ABEV vs. PM
ABEV (Ambev S.A.) and PM (Philip Morris International Inc.) are both stocks. Both are in the Consumer Defensive sector — ABEV in Beverages - Brewers, PM in Tobacco. Over the past 10 years, ABEV returned -1.25%/yr vs 11.15%/yr for PM. At a 0.28 correlation, their price movements are largely independent.
Performance
ABEV vs. PM - Performance Comparison
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Returns By Period
In the year-to-date period, ABEV achieves a 27.13% return, which is significantly higher than PM's 8.93% return. Over the past 10 years, ABEV has underperformed PM with an annualized return of -1.25%, while PM has yielded a comparatively higher 11.15% annualized return.
ABEV
- 1D
- 0.64%
- 1M
- -1.88%
- YTD
- 27.13%
- 6M
- 36.52%
- 1Y
- 40.23%
- 3Y*
- 5.92%
- 5Y*
- 3.03%
- 10Y*
- -1.25%
PM
- 1D
- -2.93%
- 1M
- -8.37%
- YTD
- 8.93%
- 6M
- 10.40%
- 1Y
- -2.17%
- 3Y*
- 26.58%
- 5Y*
- 17.02%
- 10Y*
- 11.15%
ABEV vs. PM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ABEV Ambev S.A. | 27.13% | 45.11% | -30.10% | 8.41% | 2.38% | -4.39% | -32.61% | 21.92% | -37.29% | 35.34% |
PM Philip Morris International Inc. | 8.93% | 37.99% | 34.34% | -1.85% | 12.31% | 20.78% | 3.69% | 35.02% | -33.30% | 19.85% |
Correlation
The correlation between ABEV and PM is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2008 | 0.28 |
Fundamentals
ABEV:
$49.22B
PM:
$270.63B
ABEV:
R$0.99
PM:
$7.12
ABEV:
16.28
PM:
24.33
ABEV:
3.07
PM:
2.64
ABEV:
2.88
PM:
6.51
ABEV:
R$88.21B
PM:
$41.49B
ABEV:
R$45.41B
PM:
$27.93B
ABEV:
R$28.97B
PM:
$17.74B
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Return for Risk
ABEV vs. PM — Risk / Return Rank
ABEV
PM
ABEV vs. PM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ambev S.A. (ABEV) and Philip Morris International Inc. (PM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ABEV | PM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.35 | ||
| Sortino ratioReturn per unit of downside risk | +1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.01 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | -0.11 | +2.62 |
| Martin ratioReturn relative to average drawdown | 5.57 | -0.20 | +5.77 |
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Drawdowns
ABEV vs. PM - Drawdown Comparison
The maximum ABEV drawdown since its inception was -74.04%, which is greater than PM's maximum drawdown of -42.87%. Use the drawdown chart below to compare losses from any high point for ABEV and PM.
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Drawdown Indicators
| ABEV | PM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.04% | -42.87% | -31.17% |
Max Drawdown (1Y)Largest decline over 1 year | -16.10% | -20.64% | +4.54% |
Max Drawdown (3Y)Largest decline over 3 years | -38.37% | -20.64% | -17.73% |
Max Drawdown (5Y)Largest decline over 5 years | -40.63% | -22.78% | -17.85% |
Max Drawdown (10Y)Largest decline over 10 years | -72.26% | -42.87% | -29.39% |
Current DrawdownCurrent decline from peak | -42.50% | -9.74% | -32.76% |
Average DrawdownAverage peak-to-trough decline | -31.85% | -10.02% | -21.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.25% | 10.85% | -3.60% |
Volatility
ABEV vs. PM - Volatility Comparison
The current volatility for Ambev S.A. (ABEV) is 7.54%, while Philip Morris International Inc. (PM) has a volatility of 8.19%. This indicates that ABEV experiences smaller price fluctuations and is considered to be less risky than PM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ABEV | PM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.54% | 8.19% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 25.19% | 21.28% | +3.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.75% | 28.11% | +3.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.31% | 22.82% | +7.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.30% | 24.51% | +9.79% |
Dividends
ABEV vs. PM - Dividend Comparison
ABEV's dividend yield for the trailing twelve months is around 4.97%, more than PM's 3.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ABEV Ambev S.A. | 4.97% | 8.10% | 6.10% | 5.26% | 5.36% | 4.38% | 2.67% | 2.51% | 3.79% | 2.57% | 3.41% | 4.32% |
PM Philip Morris International Inc. | 3.33% | 3.52% | 4.40% | 5.46% | 4.98% | 5.16% | 5.73% | 5.43% | 6.73% | 3.99% | 4.50% | 4.60% |
Financials
ABEV vs. PM - Financials Comparison
This section allows you to compare key financial metrics between Ambev S.A. and Philip Morris International Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ABEV vs. PM - Profitability Comparison
ABEV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ambev S.A. reported a gross profit of 11.58B and revenue of 22.46B. Therefore, the gross margin over that period was 51.6%.
PM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Philip Morris International Inc. reported a gross profit of 6.91B and revenue of 10.15B. Therefore, the gross margin over that period was 68.1%.
ABEV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ambev S.A. reported an operating income of 5.87B and revenue of 22.46B, resulting in an operating margin of 26.1%.
PM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Philip Morris International Inc. reported an operating income of 3.89B and revenue of 10.15B, resulting in an operating margin of 38.4%.
ABEV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ambev S.A. reported a net income of 3.77B and revenue of 22.46B, resulting in a net margin of 16.8%.
PM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Philip Morris International Inc. reported a net income of 2.44B and revenue of 10.15B, resulting in a net margin of 24.0%.
Frequently Asked Questions
ABEV and PM have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PM has higher volatility (8.19%) compared to ABEV (7.54%). In terms of maximum drawdown, ABEV dropped -74.04% vs PM's -42.87%.
ABEV currently has the higher Sharpe Ratio (1.28 vs -0.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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