Ambev (ABEV) Return on Capital Employed (2013 - 2025)
Ambev posted quarterly Return on Capital Employed of 23.38% for Q4 2025, up 193.0% year-on-year from 7.98% in Q4 2024, and up 4.36% on a QoQ basis from 22.41% in Q3 2025.
Ambev (ABEV) has 13 years of Return on Capital Employed data on file, last reported at 23.38% in Q4 2025.
- For the quarter ending Q4 2025, Return on Capital Employed rose 193.0% year-over-year to 23.38%; the trailing twelve-month figure through Dec 2025 stood at 23.38% (up 193.0% YoY), and the FY2025 full-year result was 22.79%, up 292.0% from the prior year.
- Return on Capital Employed for Q4 2025 stood at 23.38%, up from 22.41% in the prior quarter.
- Across five years, Return on Capital Employed topped out at 23.38% in Q4 2025 and bottomed at 15.95% in Q3 2022.
- The 5-year median for Return on Capital Employed is 18.81% (2024), against an average of 19.06%.
- The widest annual swing landed in 2022, when Return on Capital Employed plunged 336 bps; it then jumped 370 bps in 2025.
- A 5-year view of Return on Capital Employed shows it stood at 17.18% in 2021, then rose by 5 bps to 18.07% in 2022, then climbed by 8 bps to 19.6% in 2023, then climbed by 9 bps to 21.45% in 2024, then gained by 9 bps to 23.38% in 2025.
- The last three Return on Capital Employed figures came in at 23.38% (Q4 2025), 22.41% (Q3 2025), and 21.52% (Q2 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | United Breweries | 4,105.18 Bn | 3,730.53 Bn | 387.52 Bn | 32.36% |
| 2 | Anheuser-Busch InBev | 144.87 Bn | 132.65 Bn | 8.61 Bn | - |
| 3 | Mexican Economic Development | 102.46 Bn | 96.50 Bn | - | - |
| 4 | Constellation Brands | 26.22 Bn | 26.12 Bn | 951.70 Mn | 14.25% |
| 5 | Ambev | 9.36 Bn | 5.68 Bn | 2.42 Bn | 23.38% |
| 6 | Molson Coors Beverage | 8.04 Bn | 7.77 Bn | 897.20 Mn | -12.99% |
| 7 | Boston Beer | 1.99 Bn | 1.83 Bn | 213.96 Mn | -10.81% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 23.38% |
| Sep 30, 2025 | 22.41% |
| Jun 30, 2025 | 21.52% |
| Mar 31, 2025 | 20.23% |
| Dec 31, 2024 | 21.45% |
| Sep 30, 2024 | 5,477,773.83% |
| Jun 30, 2024 | 5,471,038.38% |
| Mar 31, 2024 | 5,691,007.02% |
| Dec 31, 2023 | 5,875,130.91% |
| Sep 30, 2023 | 17.78% |
| Jun 30, 2023 | 17.56% |
| Mar 31, 2023 | 18.51% |
| Dec 31, 2022 | 18.07% |
| Sep 30, 2022 | 15.95% |
| Jun 30, 2022 | 17.27% |
| Mar 31, 2022 | 17.68% |
| Dec 31, 2021 | 17.18% |
| Sep 30, 2021 | 19.31% |
| Jun 30, 2021 | 18.96% |
| Mar 31, 2021 | 17.44% |
| Dec 31, 2020 | 17.95% |
| Sep 30, 2020 | 17.16% |
| Jun 30, 2020 | 16.70% |
| Mar 31, 2020 | 18.85% |
| Dec 31, 2019 | 21.18% |
| Sep 30, 2019 | 22.07% |
| Jun 30, 2019 | 22.80% |
| Mar 31, 2019 | 23.95% |
| Dec 31, 2018 | 26.02% |
| Sep 30, 2018 | 27.47% |
| Jun 30, 2018 | 29.95% |
| Mar 31, 2018 | 27.07% |
| Dec 31, 2017 | 29.01% |
| Sep 30, 2017 | 27.15% |
| Jun 30, 2017 | 27.63% |
| Mar 31, 2017 | 27.43% |
| Dec 31, 2016 | 30.53% |
| Sep 30, 2016 | 29.72% |
| Jun 30, 2016 | 34.07% |
| Mar 31, 2016 | 31.59% |
| Dec 31, 2015 | 34.00% |
| Sep 30, 2015 | 36.93% |
| Jun 30, 2015 | 34.91% |
| Mar 31, 2015 | 33.98% |
| Dec 31, 2014 | 33.30% |
| Sep 30, 2014 | 31.18% |
| Jun 30, 2014 | 33.04% |
| Mar 31, 2014 | 32.28% |
| Dec 31, 2013 | 34.41% |