` ABEV (Ambev SA) vs CARL B (Carlsberg A/S) Comparison - Alpha Spread
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ABEV
vs
CARL B

Over the past 12 months, ABEV has significantly outperformed CARL B, delivering a return of +28% compared to the CARL B's 6% drop.

Valuation Growth Profitability Solvency Stocks Performance
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ABEV
CARL B
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Stocks Compared:
ABEV CARL B
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Valuation Comparison

ABEV Intrinsic Value
2.424 USD
Overvaluation 21%
Intrinsic Value
Price $3.065
CARL B Intrinsic Value
1 393.63 DKK
Undervaluation 40%
Intrinsic Value
Price kr840.6
Company Last Price Intrinsic Value DCF Value Multiples-Based Value Wall St Target
Ambev SA
NYSE:ABEV
3.065 USD
Carlsberg A/S
CSE:CARL B
840.6 DKK
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Valuation Scenario:
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Growth Comparison

Growth Over Time
ABEV, CARL B

ABEV
CARL B
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
Ambev SA
Revenue
Carlsberg A/S
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
ABEV, CARL B

ABEV
CARL B
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
Ambev SA
NYSE:ABEV
Carlsberg A/S
CSE:CARL B
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What is Free Cash Flow?

Gross Margin

ABEV
51.4%
CARL B
45.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Ambev SA
Carlsberg A/S

Operating Margin

ABEV
25.6%
CARL B
14.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Ambev SA
Carlsberg A/S

Net Margin

ABEV
17.6%
CARL B
6.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Ambev SA
Carlsberg A/S

FCF Margin

ABEV
22.5%
CARL B
7.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Ambev SA
Carlsberg A/S

ROE

ABEV
16.6%
CARL B
21.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Ambev SA
Carlsberg A/S

ROA

ABEV
10.1%
CARL B
4.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Ambev SA
Carlsberg A/S

ROIC

ABEV
17.8%
CARL B
9.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Ambev SA
Carlsberg A/S

ROCE

ABEV
21.3%
CARL B
14.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Ambev SA
Carlsberg A/S

Solvency Comparison

Ambev SA
Equity Waterfall
Assets
Liabilities
Equity
What is Equity Waterfall?
Carlsberg A/S
Equity Waterfall
Assets
Liabilities
Equity
What is Equity Waterfall?
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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
ABEV, CARL B

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CARL B
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1Y 3Y 5Y 10Y 15Y 20Y
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Performance Gap
ABEV, CARL B

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ABEV
CARL B
Difference
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1Y 3Y 5Y 10Y 15Y 20Y

Performance By Year
ABEV, CARL B

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ABEV
CARL B
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