Ambev (BUE:ABEV) Cyclically Adjusted PS Ratio: (As of Jul. 30, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BUE:ABEV Ambev SA BUE:ABEV
75 GF Score
Price ARS14,640.00
GF Value ARS13,065.51
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Ambev Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Ambev  (BUE:ABEV) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Ambev Cyclically Adjusted PS Ratio Related Terms


Ambev Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Ambev's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Ambev Cyclically Adjusted PS Ratio Chart

Ambev Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.84 3.32 3.00 2.37 2.65

Ambev Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.59 2.33 2.65 2.85 0.00

BUE:ABEV vs STZ, TAP: Cyclically Adjusted PS Ratio Comparison

For the Beverages - Brewers subindustry, Ambev's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Ambev Cyclically Adjusted PS Ratio vs Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Ambev's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Ambev's Cyclically Adjusted PS Ratio falls into.


BUE:ABEV
75GF Score
Ambev SA BUE:ABEV
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Ambev Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Ambev's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Ambev's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=373.833/177.2608*177.2608
=373.833

Current CPI (Jun. 2026) = 177.2608.

Ambev Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 2.983 109.986 4.808
201612 3.881 110.802 6.209
201703 3.528 111.869 5.590
201706 3.318 112.115 5.246
201709 4.047 112.777 6.361
201712 5.263 114.068 8.179
201803 4.567 114.868 7.048
201806 4.807 117.038 7.281
201809 6.252 117.881 9.401
201812 9.788 118.340 14.661
201903 8.110 120.124 11.968
201906 8.872 120.977 13.000
201909 10.243 121.292 14.969
201912 13.978 123.436 20.073
202003 10.088 124.092 14.410
202006 9.657 123.557 13.854
202009 13.526 125.095 19.166
202012 18.476 129.012 25.386
202103 16.758 131.660 22.562
202106 18.667 133.871 24.717
202109 21.598 137.913 27.760
202112 24.798 141.992 30.957
202203 25.099 146.537 30.361
202206 27.046 149.784 32.007
202209 34.416 147.800 41.276
202212 45.801 150.207 54.050
202303 49.149 153.352 56.812
202306 58.950 154.519 67.626
202309 90.870 155.464 103.611
202312 93.065 157.148 104.976
202403 216.564 159.372 240.872
202406 210.832 161.052 232.052
202409 239.817 162.342 261.855
202412 283.430 164.740 304.971
202503 264.635 168.102 279.054
202506 274.192 169.670 286.459
202509 336.863 170.739 349.730
202512 421.626 171.765 435.116
202603 383.181 175.066 387.986
202606 373.833 177.261 373.833

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Ambev (BUE:ABEV) Overvalued in 2026?

Based on GuruFocus' analysis, Ambev stock appears to be overvalued. The current stock price of ARS14,640.00 is trading 12.1% above its estimated GF Value™ of ARS13,065.51. GuruFocus considers Ambev to be Modestly Overvalued.

Key valuation signals for BUE:ABEV:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ARS13,065.51 vs. price of ARS14,640.00 (12.1% above fair value)
  • GF Score™: 75/100 with 6 warning signs

No single metric tells the full story. See the BUE:ABEV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ambev Business Description

Address Rua Doctor Renato Paes de Barros, 1017, 4th Floor, Sao Paulo, SP, BRA, 04530-001
Ambev is the largest brewer in Latin America and the Caribbean and is Anheuser-Busch InBev's subsidiary in the region. It produces, distributes, and sells beer and PepsiCo products in Brazil and other Latin American countries and owns Argentina's largest brewer, Quinsa. Ambev was formed in 1999 through the merger of Brazil's two largest beverage companies, Brahma and Antarctica. In 2004, Ambev combined with Canadian brewer Labatt, giving AB InBev a controlling interest of 62%.
75GF Score

Get the complete analysis for BUE:ABEV

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

ARS14,640.00
Price
ARS13,065.51
GF Value