Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Ambev S.A. (ABEV3.SA)

Company Dividend Discount ModelIndustry: Beverages - AlcoholicSector: Consumer Defensive

Valuation Snapshot

Stable Growth$116.59 - $202.88$190.12
Multi-Stage$33.51 - $36.62$35.03
Blended Fair Value$112.58
Current Price$12.09
Upside831.18%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-12.42%-10.32%0.260.760.780.710.440.500.560.560.660.73
YoY Growth---65.98%-2.62%10.14%62.26%-12.97%-10.70%-0.06%-14.62%-10.09%-4.72%
Dividend Yield--1.91%6.47%5.66%4.71%2.90%4.23%3.34%2.31%3.59%3.82%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)16,037.07
(-) Cash Dividends Paid (M)14,642.64
(=) Cash Retained (M)1,394.43
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3,207.412,004.631,202.78
Cash Retained (M)1,394.431,394.431,394.43
(-) Cash Required (M)-3,207.41-2,004.63-1,202.78
(=) Excess Retained (M)-1,812.99-610.20191.65
(/) Shares Outstanding (M)15,720.8315,720.8315,720.83
(=) Excess Retained per Share-0.12-0.040.01
LTM Dividend per Share0.930.930.93
(+) Excess Retained per Share-0.12-0.040.01
(=) Adjusted Dividend0.820.890.94
WACC / Discount Rate6.24%6.24%6.24%
Growth Rate5.50%6.50%7.50%
Fair Value$116.59$190.12$202.88
Upside / Downside864.39%1,472.57%1,578.04%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)16,037.0717,079.4818,189.6519,371.9720,631.1521,972.1822,631.34
Payout Ratio91.30%91.04%90.78%90.52%90.26%90.00%92.50%
Projected Dividends (M)14,642.6415,549.8416,513.1017,535.8918,621.8819,774.9620,933.99

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.24%6.24%6.24%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)14,499.3014,636.7314,774.17
Year 2 PV (M)14,357.2414,630.7114,906.75
Year 3 PV (M)14,216.4614,624.5615,040.40
Year 4 PV (M)14,076.9414,618.3015,175.13
Year 5 PV (M)13,938.6714,611.9215,310.93
PV of Terminal Value (M)455,640.69477,648.31500,498.21
Equity Value (M)526,729.31550,770.53575,705.58
Shares Outstanding (M)15,720.8315,720.8315,720.83
Fair Value$33.51$35.03$36.62
Upside / Downside177.13%189.78%202.90%

High-Yield Dividend Screener

« Prev Page 3 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
BLWBlackRock Limited Duration Income Trust11.50%$1.5893.39%
ELCEntergy Louisiana, LLC COLLATERAL TR MT11.33%$2.3457.35%
VIASPVia Renewables, Inc.11.33%$2.8849.21%
BUIBlackRock Utilities, Infrastructure & Power Opportunities Trust11.31%$2.9358.72%
JPCNuveen Preferred & Income Opportunities Fund11.24%$0.9167.43%
RILYB. Riley Financial, Inc.11.21%$0.5856.91%
PFOFlaherty & Crumrine Preferred Income Opportunity Fund Inc.11.06%$1.0543.18%
OXLCIOxford Lane Capital Corp.11.05%$2.8369.26%
USB-PSU.S. Bancorp Depositary Shares,10.98%$2.0243.68%
FLCFlaherty & Crumrine Total Return Fund Inc.10.93%$1.9242.77%
UTGReaves Utility Income Fund10.78%$4.0043.20%
CEMClearBridge MLP and Midstream Fund Inc10.77%$5.6046.76%
AIVApartment Investment and Management Company10.76%$0.6336.20%
DCFBNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.10.71%$0.9942.71%
CALMCal-Maine Foods, Inc.10.70%$8.4032.04%
EMOClearBridge Energy Midstream Opportunity Fund Inc10.65%$4.7926.74%
CTRClearBridge MLP and Midstream Total Return Fund Inc.10.63%$5.0047.43%
EIMEaton Vance Municipal Bond Fund10.57%$1.0364.33%
VZAVerizon Communications, 5.9% 15 Feb 205410.57%$2.7049.90%
BPOPMPopular Capital Trust II PFD GTD 6.125%10.45%$2.6726.93%
RITMRithm Capital Corp.10.45%$1.1571.36%
IHTAInvesco High Income 2024 Target Term Fund10.33%$0.7826.82%
WUThe Western Union Company10.30%$0.9540.76%
ERHAllspring Utilities and High Income Fund10.26%$1.2231.06%
GDVThe Gabelli Dividend & Income Trust10.25%$2.8539.93%
CIIBlackRock Enhanced Capital and Income Fund, Inc.10.23%$2.3844.19%
GBDCGolub Capital BDC, Inc.10.19%$1.3897.76%
PVCMXPalm Valley Capital Fund Investor Class10.19%$1.2483.81%
AEDVXEmerging Markets Debt Fund - Investor Class9.95%$0.9476.80%
HYTBlackRock Corporate High Yield Fund, Inc.9.83%$0.8799.09%
FFCFlaherty & Crumrine Preferred Securities Income Fund Inc.9.79%$1.6337.81%
WENThe Wendy's Company9.78%$0.8082.75%
CMSACMS Energy Corporation 5.6% JRSUB NT 789.77%$2.1762.27%
HIEMiller/Howard High Income Equity Fund9.63%$1.2198.11%
NMSNuveen Minnesota Quality Municipal Income Fund9.54%$1.1237.02%
CMSCCMS Energy Corporation 5.875% J9.48%$2.1762.27%
NEE-PNNextEra Energy, Inc. Series N J9.24%$2.2170.10%
CMSDCMS Energy Corporation 5.875% Junior Subordinated Notes due 20799.20%$2.1762.27%
VFLabrdn National Municipal Income Fund9.06%$0.9334.18%
UANCVR Partners, LP8.96%$9.0975.52%
GGZThe Gabelli Global Small and Mid Cap Value Trust8.95%$1.3448.03%
SUNSSunrise Realty Trust, Inc.8.95%$0.8388.91%
PTYPIMCO Corporate & Income Opportunity Fund8.93%$1.1588.40%
ATHSAthene Holding Ltd. 7.250% Fixe8.86%$2.2214.14%
APAMArtisan Partners Asset Management Inc.8.83%$3.6697.93%
VLTInvesco High Income Trust II8.83%$0.9846.97%
VTNInvesco Trust for Investment Grade New York Municipals8.75%$1.0165.99%
JEQAbrdn Japan Equity Fund Inc8.73%$0.6943.45%
MOAltria Group, Inc.8.69%$4.9894.54%
JGGCJaguar Global Growth Corporation I8.63%$0.1563.08%