AMBEV S.A. vs Mondelez International, Inc., two Food & Beverage stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Snacks against beer, and the beer looks cheaper on every line. Mondelez trades at 30.06 times earnings, nearly double Ambev's 16.59, despite earning less on equity, 10.11% versus 18.01%. Ambev also keeps far more of each sale, a 12.17% net margin against Mondelez's 6.64%, and generates a 7.72% free cash yield where Mondelez manages 3.3%. Their book multiples sit closer, 3.03 for Mondelez and 2.90 for Ambev, and both run light debt loads. Size is where Mondelez pulls ahead: $78.1B against Ambev's $50.4B, the reach of a global confection portfolio versus a regional brewer. Investors pay a growth premium for the snack maker that its current returns do not yet earn.
Comparison updated 2026-07-11.
| Metric | ABEV | MDLZ |
|---|---|---|
| Price | $3.07 | $58.81 |
| Market cap | $47.9B | $75.6B |
| Sector | Food & Beverage | Food & Beverage |
| Stage | Mature | Mature |
| Implied growth (priced in) | — | +9.8% |
| P/E | 15.8 | 29.1 |
| P/B | 2.75 | 2.93 |
| P/S | 1.86 | 1.92 |
| EV/EBITDA | 9.7 | 15.5 |
| Revenue growth | +4.8% | +7.8% |
| Gross margin | 34.5% | 27.8% |
| Operating margin | 17.8% | 8.0% |
| Net margin | 12.2% | 6.6% |
| Return on equity | 18.0% | 10.1% |
| Return on assets | 11.0% | 3.7% |
| Return on invested capital | 20.8% | 10.1% |
| FCF yield | 8.1% | 3.4% |
| Dividend yield | — | 3.3% |
| Debt / equity | 0.00 | 0.11 |
| Current ratio | 0.96 | 0.54 |
| Altman Z (solvency) | 4.03 | 2.13 |
| Piotroski F (quality) | 8 / 9 | 5 / 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.