
Ambev SA
NYSE:ABEV

Relative Value
The Relative Value of one
ABEV
stock under the Base Case scenario is
3.55
USD.
Compared to the current market price of 2.83 USD,
Ambev SA
is
Undervalued by 20%.
Relative valuation is one of two methods of placing a monetary value on a company; the other is Discounted Cash Flow valuation method. We use a combination of these two methods to calculate the Intrinsic Value of stock as accurately as possible.

Valuation Multiples
Multiples Across Competitors
ABEV Competitors Multiples
Ambev SA Competitors
Market Cap | P/S | P/E | EV/EBITDA | EV/EBIT | ||||
---|---|---|---|---|---|---|---|---|
BR |
![]() |
Ambev SA
NYSE:ABEV
|
228B USD | 2.8 | 15.5 | 8.8 | 11.7 | |
BE |
![]() |
Anheuser Busch Inbev SA
XETRA:1NBA
|
99.2B EUR | 1.8 | 14 | 8.8 | 11.7 | |
NL |
![]() |
Heineken NV
AEX:HEIA
|
54.6B EUR | 1.9 | 20.2 | 11 | 16 | |
HK |
B
|
Budweiser Brewing Company APAC Ltd
HKEX:1876
|
260B HKD | 4.9 | 32.4 | 22.3 | 22.3 | |
NL |
![]() |
Heineken Holding NV
AEX:HEIO
|
22.9B EUR | 0.8 | 17.1 | 5.7 | 8.1 | |
DK |
![]() |
Carlsberg A/S
OTC:CABJF
|
21.5B USD | 2.1 | -141.2 | 11.2 | 15.6 | |
HK |
C
|
China Resources Beer Holdings Co Ltd
HKEX:291
|
160B HKD | 4.1 | 33.3 | 27.4 | 27.7 | |
JP |
![]() |
Asahi Group Holdings Ltd
TSE:2502
|
2.7T JPY | 1 | 16.1 | 10.5 | 16.7 | |
CN |
T
|
Tsingtao Brewery Co Ltd
SSE:600600
|
131B CNY | 3.9 | 32.6 | 23.4 | 23.4 | |
US |
![]() |
Molson Coors Beverage Co
NYSE:TAP
|
13.1B USD | 1.2 | -51.4 | 11.7 | 20.2 | |
JP |
![]() |
Kirin Holdings Co Ltd
TSE:2503
|
1.7T JPY | 0.8 | 17 | 7.3 | 10.5 |
P/S Multiple | Revenue Growth | |||
---|---|---|---|---|
BR |
![]() |
Ambev SA
NYSE:ABEV
|
2.8
|
26%
|
BE |
![]() |
Anheuser Busch Inbev SA
XETRA:1NBA
|
1.8
|
19%
|
NL |
![]() |
Heineken NV
AEX:HEIA
|
1.9
|
27%
|
HK |
B
|
Budweiser Brewing Company APAC Ltd
HKEX:1876
|
4.9
|
20%
|
NL |
![]() |
Heineken Holding NV
AEX:HEIO
|
0.8
|
21%
|
DK |
![]() |
Carlsberg A/S
OTC:CABJF
|
2.1
|
16%
|
HK |
C
|
China Resources Beer Holdings Co Ltd
HKEX:291
|
4.1
|
35%
|
JP |
![]() |
Asahi Group Holdings Ltd
TSE:2502
|
1
|
12%
|
CN |
T
|
Tsingtao Brewery Co Ltd
SSE:600600
|
3.9
|
21%
|
US |
![]() |
Molson Coors Beverage Co
NYSE:TAP
|
1.2
|
6%
|
JP |
![]() |
Kirin Holdings Co Ltd
TSE:2503
|
0.8
|
8%
|
P/E Multiple | Earnings Growth | |||
---|---|---|---|---|
BR |
![]() |
Ambev SA
NYSE:ABEV
|
15.5
|
23%
|
BE |
![]() |
Anheuser Busch Inbev SA
XETRA:1NBA
|
14
|
39%
|
NL |
![]() |
Heineken NV
AEX:HEIA
|
20.2
|
46%
|
HK |
B
|
Budweiser Brewing Company APAC Ltd
HKEX:1876
|
32.4
|
43%
|
NL |
![]() |
Heineken Holding NV
AEX:HEIO
|
17.1
|
62%
|
DK |
![]() |
Carlsberg A/S
OTC:CABJF
|
Negative Multiple: -141.2 | N/A |
HK |
C
|
China Resources Beer Holdings Co Ltd
HKEX:291
|
33.3
|
84%
|
JP |
![]() |
Asahi Group Holdings Ltd
TSE:2502
|
16.1
|
36%
|
CN |
T
|
Tsingtao Brewery Co Ltd
SSE:600600
|
32.6
|
56%
|
US |
![]() |
Molson Coors Beverage Co
NYSE:TAP
|
Negative Multiple: -51.4 | N/A |
JP |
![]() |
Kirin Holdings Co Ltd
TSE:2503
|
17
|
29%
|
EV/EBITDA Multiple | EBITDA Growth | |||
---|---|---|---|---|
BR |
![]() |
Ambev SA
NYSE:ABEV
|
8.8
|
36%
|
BE |
![]() |
Anheuser Busch Inbev SA
XETRA:1NBA
|
8.8
|
20%
|
NL |
![]() |
Heineken NV
AEX:HEIA
|
11
|
34%
|
HK |
B
|
Budweiser Brewing Company APAC Ltd
HKEX:1876
|
22.3
|
25%
|
NL |
![]() |
Heineken Holding NV
AEX:HEIO
|
5.7
|
23%
|
DK |
![]() |
Carlsberg A/S
OTC:CABJF
|
11.2
|
20%
|
HK |
C
|
China Resources Beer Holdings Co Ltd
HKEX:291
|
27.4
|
158%
|
JP |
![]() |
Asahi Group Holdings Ltd
TSE:2502
|
10.5
|
16%
|
CN |
T
|
Tsingtao Brewery Co Ltd
SSE:600600
|
23.4
|
94%
|
US |
![]() |
Molson Coors Beverage Co
NYSE:TAP
|
11.7
|
29%
|
JP |
![]() |
Kirin Holdings Co Ltd
TSE:2503
|
7.3
|
20%
|
EV/EBIT Multiple | EBIT Growth | |||
---|---|---|---|---|
BR |
![]() |
Ambev SA
NYSE:ABEV
|
11.7
|
40%
|
BE |
![]() |
Anheuser Busch Inbev SA
XETRA:1NBA
|
11.7
|
26%
|
NL |
![]() |
Heineken NV
AEX:HEIA
|
16
|
39%
|
HK |
B
|
Budweiser Brewing Company APAC Ltd
HKEX:1876
|
22.3
|
35%
|
NL |
![]() |
Heineken Holding NV
AEX:HEIO
|
8.1
|
29%
|
DK |
![]() |
Carlsberg A/S
OTC:CABJF
|
15.6
|
24%
|
HK |
C
|
China Resources Beer Holdings Co Ltd
HKEX:291
|
27.7
|
115%
|
JP |
![]() |
Asahi Group Holdings Ltd
TSE:2502
|
16.7
|
-7%
|
CN |
T
|
Tsingtao Brewery Co Ltd
SSE:600600
|
23.4
|
71%
|
US |
![]() |
Molson Coors Beverage Co
NYSE:TAP
|
20.2
|
45%
|
JP |
![]() |
Kirin Holdings Co Ltd
TSE:2503
|
10.5
|
10%
|