United BreweriesNSE:UBL -0.58%74 ROE % is 9.00% as of Mar. 2026, which is 11% below its 10-year median of 10.16. GuruFocus rates NSE:UBL with a GF Score™ of 74/100 and a GF Value™ of ₹2,162.20 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 207 Beverages - Alcoholic companies, United Breweries ranks better than 61.84% on this metric.
The historical rank and industry rank for United Breweries's ROE % or its related term are showing as below:
NSE:UBL'
s ROE % Range Over the Past 10 Years
Min: 3.19 Med: 10.16 Max: 19.17
Current: 9.37
During the past 13 years, United Breweries's highest ROE % was 19.17%. The lowest was 3.19%. And the median was 10.16%.
NSE:UBL's ROE % is ranked better than 61.84% of 207
companies
in the Beverages - Alcoholic industry
Industry Median: 5.38
vs NSE:UBL: 9.37
United Breweries (NSE:UBL) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
United Breweries ROE % Related Terms
United Breweries ROE % Historical Data
* Premium members only.
The historical data trend for United Breweries's ROE % 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.
For the Beverages - Brewers subindustry, United Breweries's ROE %, along with its competitors' market caps and ROE % 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.
United Breweries ROE % vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, United Breweries's ROE % distribution charts can be found below:
* The bar in red indicates where United Breweries's ROE % falls into.
* 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
United Breweries (NSE:UBL) has a ROE % of 9.00% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on United Breweries and its competitors. This is 11% below median its historical median of 10.16. Over the past decade, United Breweries' ROE % has ranged from 3.19 to 19.17. According to the industry distribution chart, United Breweries ranks #79 out of 207 companies in the Beverages - Alcoholic industry, placing it in the top 38.2%.
Is United Breweries' ROE % too high?
United Breweries' current ROE % of 9.00% is 11% below median its 10-year median of 10.16. Over the past 10 years, this metric has ranged from a low of 3.19 to a high of 19.17. The Beverages - Alcoholic industry median ROE % is 5.38. United Breweries' value of 9.00% is 67.3% above this industry median. Based on the distribution chart, United Breweries ranks #79 out of 207 companies in the Beverages - Alcoholic industry, which is above the industry midpoint. Overall, United Breweries has a GF Score™ of 74/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does United Breweries' ROE % compare to BUD and STZ?
According to the Beverages - Alcoholic industry distribution chart, United Breweries ranks #79 out of 207 companies for ROE %. This puts United Breweries in the upper half of its industry. The industry median ROE % is 5.38. United Breweries' value of 9.00% is 67.3% above this benchmark. Historically, United Breweries' own ROE % has ranged from 3.19 to 19.17 over the past decade. While the company's 10-year median is 10.16 vs. the industry median of 5.38, United Breweries has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Beverages - Alcoholic company?
The median ROE % among Beverages - Alcoholic companies is 5.38, based on 207 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. United Breweries's current ROE % of 9.00% is 67.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on United Breweries and its competitors. For the Beverages - Alcoholic industry, the median ROE % is 5.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. United Breweries's current ROE % is 9.00%, which is 11% below median its own 10-year median of 10.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Breweries stock overvalued right now?
Based on GuruFocus' analysis, United Breweries (NSE:UBL) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹2,162.20, compared to a current price of ₹1,328.80 — trading 38.5% below its estimated fair value. The current ROE % is 9.00%, which is 11% below median its 10-year median of 10.16 and 67.3% above the Beverages - Alcoholic industry median of 5.38. United Breweries' overall GF Score™ is 74/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For United Breweries (NSE:UBL), the current ROE % is 9.00% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is United Breweries (NSE:UBL) Overvalued in 2026?
Based on GuruFocus' analysis, United Breweries stock appears to be undervalued.
The current stock price of ₹1,328.80 is trading 38.5% below its estimated GF Value™ of ₹2,162.20.
GuruFocus considers United Breweries to be Significantly Undervalued.
Key valuation signals for NSE:UBL:
ROE %: 9.00% (11% below median its 10-year median of 10.16)
GF Value™: ₹2,162.20 vs. price of ₹1,328.80 (38.5% below fair value)
Industry Position: 67.3% above the Beverages - Alcoholic median (#79 of 207)
No single metric tells the full story. See the NSE:UBL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
United Breweries Ltd brews and sells beer and flavored malt beverages in India. The company has dozens of production facilities in India, and it licenses its brands to be manufactured in the United Kingdom, Australia, and New Zealand. The company's flagship brand is Kingfisher, which is prominent in India and is sold in dozens of countries around the world. It has two segments Beer and Non-alcoholic beverages. It derives the majority of its revenue from the Beer segment. The company's other brands include Bullet, Cannon 10000, Kalyani, UB Export, Zingaro, London Pilsner, and Heineken among others. Geographically, it derives key revenue from its business in India and the rest from other regions.
74GF Score
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