Ambev (ABEV) Operating Expenses (2012 - 2025)
Ambev (ABEV) reported Operating Expenses of -$295.4 million for Q4 2025, up 9.05% on a YoY basis from -$270.9 million in Q4 2024, and down 18.79% quarter-over-quarter from -$248.7 million in Q3 2025.
Ambev (ABEV) Operating Expenses (2012 - 2025) Analysis & Trends
Ambev has reported Operating Expenses for 14 years, with the latest figure at -$295.4 million in Q4 2025.
- For the quarter ending Q4 2025, Operating Expenses rose 9.05% year-over-year to -$295.4 million; the trailing twelve-month figure through Dec 2025 stood at -$1.1 billion (up 8.62% YoY), and the FY2025 full-year result was $1.1 billion, up 3.99% from the prior year.
- Operating Expenses for Q4 2025 stood at -$295.4 million, down from -$248.7 million in the prior quarter.
- The five-year high for Operating Expenses was -$214.0 million in Q3 2021, with the low at -$324.8 million in Q4 2024.
- Historically, Operating Expenses has averaged -$258.8 million across 5 years, with a median of -$257.4 million in 2023.
- Annual changes were most pronounced in 2021 — Operating Expenses tumbled 137.11% — and 2025, when it climbed 9.87%.
- Ambev's Operating Expenses stood at -$248.1 million in 2021, then decreased by 11.41% to -$276.4 million in 2022, then slipped by 0.88% to -$278.9 million in 2023, then declined by 16.48% to -$324.8 million in 2024, then climbed by 9.05% to -$295.4 million in 2025.
- The last three Operating Expenses figures came in at -$295.4 million (Q4 2025), -$248.7 million (Q3 2025), and -$251.9 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | United Breweries | 4,105.18 Bn | 3,586.00 Bn | 387.52 Bn | -58.25 Bn |
| 2 | Anheuser-Busch InBev | 143.88 Bn | 131.66 Bn | 8.61 Bn | -4,786.00 |
| 3 | Ambev | 35.18 Bn | 31.41 Bn | 2.42 Bn | -295.42 Mn |
| 4 | Constellation Brands | 26.02 Bn | 25.92 Bn | 951.70 Mn | 420.50 Mn |
| 5 | Mexican Economic Development | 19.03 Bn | 13.06 Bn | - | - |
| 6 | Molson Coors Beverage | 7.85 Bn | 7.59 Bn | 897.20 Mn | 610.00 Mn |
| 7 | Boston Beer | 1.90 Bn | 1.74 Bn | 213.96 Mn | 404.42 Mn |
| 8 | NFiniTi | - | - | - | 73,077.00 |
| 9 | Molson Coors Beverage | - | - | 897.20 Mn | 610.00 Mn |
| 10 | Anheuser-Busch InBev | - | - | 8.61 Bn | -4,786.00 |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -295.42 Mn |
| Sep 30, 2025 | -248.69 Mn |
| Jun 30, 2025 | -251.95 Mn |
| Mar 31, 2025 | -254.08 Mn |
| Dec 31, 2024 | -324.82 Mn |
| Sep 30, 2024 | -275.92 Mn |
| Jun 30, 2024 | -279.07 Mn |
| Mar 31, 2024 | -269.44 Mn |
| Dec 31, 2023 | -278.86 Mn |
| Sep 30, 2023 | -260.67 Mn |
| Jun 30, 2023 | -265.65 Mn |
| Mar 31, 2023 | -251.42 Mn |
| Dec 31, 2022 | -276.42 Mn |
| Sep 30, 2022 | -250.88 Mn |
| Jun 30, 2022 | -264.26 Mn |
| Mar 31, 2022 | -224.53 Mn |
| Dec 31, 2021 | -248.11 Mn |
| Sep 30, 2021 | -214.04 Mn |
| Jun 30, 2021 | -215.33 Mn |
| Mar 31, 2021 | -226.08 Mn |