Latest Ratios: P/E Ratio 17.3x · EV/EBITDA 7.8x · ROE 6.8%. (1998–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.1B | $2.4B | $2.1B | $2.3B | $2.4B | $3.0B | $2.7B | $3.5B | $4.6B | $5.5B | $3.9B |
| Enterprise Value | $3.0B | $809.3B | $709.5B | $713.4B | $777.9B | $311.1B | $2.9B | $3.7B | $-43735652413 | $24.5B | $30.6B |
| P/E Ratio → | 17.35 | 0.02 | 0.01 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.02 | 0.04 | 0.03 |
| P/S Ratio | 0.70 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| P/B Ratio | 1.20 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.37 | 1.83 | 0.00 | 0.00 | 0.00 |
| P/FCF | 21.12 | 0.03 | 0.02 | 0.01 | — | 0.02 | 0.02 | 0.03 | 0.03 | 0.04 | 0.00 |
| P/OCF | 8.54 | 0.01 | 0.01 | 0.01 | 0.05 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.00 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.29 | 0.24 | 0.28 | 0.29 | 0.13 | 0.00 | 0.00 | -0.02 | 0.01 | 0.02 |
| EV / EBITDA | 7.83 | 2.31 | 1.71 | 2.07 | 2.25 | 0.68 | 0.01 | 0.01 | -0.08 | 0.08 | 0.11 |
| EV / EBIT | 13.53 | 4.47 | 2.70 | 2.99 | 3.67 | 0.94 | 0.02 | 0.02 | -0.09 | 0.11 | 0.16 |
| EV / FCF | — | 8.80 | 5.57 | 4.33 | — | 2.56 | 0.02 | 0.04 | -0.25 | 0.18 | 0.00 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.4% | 44.4% | 45.2% | 46.3% | 44.1% | 48.0% | 47.0% | 50.2% | 51.8% | 53.0% | 52.4% |
| Operating Margin | 7.3% | 7.3% | 9.0% | 9.4% | 8.1% | 13.3% | 9.4% | 12.8% | 26.5% | 13.4% | 12.3% |
| Net Profit Margin | 4.0% | 4.0% | 5.5% | 4.1% | 4.4% | 8.0% | 5.2% | 7.1% | 17.2% | 7.6% | 7.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.8% | 6.8% | 10.7% | 7.6% | 8.3% | 27.9% | 4928.7% | 18.7% | 23.5% | 10.7% | 9.9% |
| ROA | 2.9% | 2.9% | 4.3% | 3.0% | 3.7% | 14.0% | 2876.9% | 10.8% | 14.0% | 6.7% | 6.4% |
| ROIC | 6.3% | 6.3% | 8.9% | 8.4% | 8.3% | 28.6% | 6236.2% | 26.1% | 27.4% | 13.8% | 12.1% |
| ROCE | 6.7% | 6.7% | 9.0% | 8.7% | 9.0% | 32.0% | 6601.0% | 26.5% | 28.9% | 15.5% | 13.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.82 | 0.82 | 0.85 | 0.99 | 0.96 | 0.40 | 0.36 | 0.22 | 0.19 | 0.15 | 0.13 |
| Debt / EBITDA | 3.78 | 3.78 | 3.40 | 3.85 | 3.98 | 1.26 | 0.00 | 0.00 | 0.48 | 0.59 | 0.58 |
| Net Debt / Equity | — | 0.50 | 0.42 | 0.53 | 0.54 | 0.22 | 0.08 | 0.08 | -0.03 | 0.02 | 0.02 |
| Net Debt / EBITDA | 2.30 | 2.30 | 1.70 | 2.06 | 2.25 | 0.68 | 0.00 | 0.00 | -0.09 | 0.06 | 0.10 |
| Debt / FCF | — | 8.78 | 5.55 | 4.32 | — | 2.54 | 0.00 | 0.00 | -0.28 | 0.14 | 0.00 |
| Interest Coverage | 2.38 | 2.38 | 2.70 | 3.10 | 2.79 | 9.25 | 6.00 | 7.70 | 20.45 | 9.13 | 9.39 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.90 | 1.90 | 2.06 | 2.33 | 2.08 | 1.40 | 1.84 | 1.63 | 1.46 | 1.56 | 1.54 |
| Quick Ratio | 1.34 | 1.34 | 1.50 | 1.69 | 1.46 | 0.93 | 1.37 | 1.12 | 1.09 | 1.11 | 1.07 |
| Cash Ratio | 0.66 | 0.66 | 0.82 | 0.90 | 0.76 | 0.36 | 0.78 | 0.43 | 0.51 | 0.39 | 0.32 |
| Asset Turnover | — | 0.74 | 0.73 | 0.75 | 0.75 | 0.87 | 522.63 | 582.26 | 0.74 | 0.86 | 0.83 |
| Inventory Turnover | 3.43 | 3.43 | 3.33 | 3.12 | 3.04 | 3.52 | 2866.17 | 2738.15 | 3.63 | 3.79 | 3.57 |
| Days Sales Outstanding | — | 65.95 | 68.20 | 69.03 | 67.22 | 57.18 | 0.08 | 0.08 | 69.89 | 56.71 | 58.73 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.8% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Payout Ratio | 66.9% | 66.9% | 50.8% | 62.1% | 134.0% | 137.6% | 106.2% | 167.5% | 24.4% | 58.0% | 58.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.8% | 4747.5% | 7688.8% | 4560.3% | 4875.0% | 6569.2% | 3540.4% | 3713.3% | 6610.0% | 2371.6% | 3056.1% |
| FCF Yield | 4.7% | 3899.3% | 6087.7% | 7106.8% | — | 4007.6% | 5813.4% | 2905.6% | 3779.0% | 2495.8% | 4898898.2% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.8% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Shares Outstanding | — | $185M | $185M | $185M | $185M | $185M | $185M | $185M | $185M | $185M | $185M |
Regional Macroeconomic Volatility
Based on reported figures, CCU's P/E ratio of 17.35 and EV/EBITDA of 7.83 suggest that the market is pricing in significant earnings volatility, likely due to the difficulty in normalizing results across hyperinflationary environments and seasonal demand cycles inherent in the Southern Cone beverage market.
The current valuation appears to reflect a cautious outlook, as the PEG ratio of 5.63 indicates that investors are paying a premium for growth that has recently turned negative. This valuation may be misaligned with the company's historical performance, suggesting that the market is struggling to assign a stable multiple until regional macroeconomic conditions stabilize.
According to recent financial statements, CCU's ROIC has struggled to maintain positive momentum, fluctuating between a low of -0.9% in 2025Q2 and a peak of 5.6% in 2023Q4, which indicates that the company is currently failing to consistently generate returns above its likely cost of capital.
The decay in ROIC appears driven by compressed operating margins rather than asset turnover, suggesting that the core business is facing structural headwinds in pricing power. Investors should monitor whether management can improve capital allocation efficiency, as the current trend suggests a period of value destruction rather than compounding.
As reported in quarterly filings, CCU's cash conversion cycle has been highly erratic, ranging from 51 days in 2023Q4 to 112 days in 2024Q2, which highlights significant challenges in managing inventory levels and supplier payment terms amidst volatile regional demand and inflationary pressures.
The wide variance in the CCC suggests that the company's logistics backbone, while structurally sound, is currently struggling to optimize working capital. This inefficiency may be exacerbating the company's cash flow volatility, as capital remains tied up in inventory for longer periods than historical norms would suggest.
Based on the company's reported figures, the debt-to-equity ratio has trended downward from 0.99 in 2023Q4 to 0.72 in 2026Q1, which may indicate a strategic effort to reduce financial risk in a high-interest rate environment, despite the ongoing pressure on operating income and interest coverage.
While the reduction in leverage appears positive on the surface, the interest coverage ratio has remained volatile, dropping to negative levels during periods of operational loss. This suggests that the company's ability to service debt remains highly sensitive to earnings shocks, warranting further investigation into the sustainability of this deleveraging path.
As noted in recent institutional research, the P/E ratio is frequently misapplied to CCU because it fails to account for the non-cash distortions caused by IAS 29 hyperinflationary accounting, which can artificially inflate or deflate net income without reflecting the underlying cash-generating capacity of the business.
Investors should instead focus on EV/EBITDA or free cash flow yields to better assess the company's operational performance. Relying on P/E in this context may lead to erroneous conclusions about the company's true earnings power, as the metric is heavily influenced by accounting adjustments that do not represent actual cash flows.
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying CCU stock.
Compañía Cervecerías Unidas S.A.'s current P/E ratio is 17.3x. The historical average is 0.0x. This places it at the 100th percentile of its historical range.
Compañía Cervecerías Unidas S.A.'s current EV/EBITDA is 7.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.0x.
Compañía Cervecerías Unidas S.A.'s return on equity (ROE) is 6.8%. The historical average is 13.5%.
Based on historical data, Compañía Cervecerías Unidas S.A. is trading at a P/E of 17.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Compañía Cervecerías Unidas S.A.'s current dividend yield is 3.84% with a payout ratio of 66.9%.
Compañía Cervecerías Unidas S.A. has 44.4% gross margin and 7.3% operating margin.
Compañía Cervecerías Unidas S.A.'s Debt/EBITDA ratio is 3.8x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.