AMBEV S.A. vs DIAGEO plc, two Food & Beverage stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Beer against spirits, and roughly the same return on equity: Ambev at 18.01%, Diageo at 18.53%. Ambev keeps more of each sale, a 12.17% net margin versus Diageo's 9.08%, and trades cheaper at 16.59 times earnings against 19.73. Diageo's reported free cash yield of 27.68% looks enormous, but a figure that far above its peers usually reflects a one-time swing in working capital rather than a durable run rate, so lean on it lightly. Neither name carries net debt. The market values Diageo's book at 3.39 times against Ambev's 2.90. Ambev is the slightly larger house at $50.4B versus $46.4B, and the cheaper one on earnings.
Comparison updated 2026-07-11.
| Metric | ABEV | DEO |
|---|---|---|
| Price | $3.07 | $81.96 |
| Market cap | $47.9B | $45.5B |
| Sector | Food & Beverage | Food & Beverage |
| Stage | Mature | Mature |
| P/E | 15.8 | 19.4 |
| P/B | 2.75 | 3.32 |
| P/S | 1.86 | 1.63 |
| EV/EBITDA | 9.7 | 10.0 |
| Revenue growth | +4.8% | +4.2% |
| Gross margin | 34.5% | 43.5% |
| Operating margin | 17.8% | 15.5% |
| Net margin | 12.2% | 9.1% |
| Return on equity | 18.0% | 18.5% |
| Return on assets | 11.0% | 5.0% |
| Return on invested capital | 20.8% | 22.7% |
| FCF yield | 8.1% | 28.2% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 0.96 | 1.60 |
| Altman Z (solvency) | 4.03 | 2.00 |
| Piotroski F (quality) | 8 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.