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Compania Cervecerias Unidas SA
(NYSE:CCU)
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Rating:60Neutral
Price Target:
$12.50
▲(9.17% Upside)
Action:Reiterated
Date:08/11/26
The score is primarily driven by solid top-line momentum and a stable (improving) balance-sheet profile, but it is capped by compressed profitability and mixed cash-flow conversion. Technicals are moderately positive (price above key short- and mid-term averages and positive MACD), while valuation appears neutral with a modest dividend yield.
Positive Factors
Sustained Revenue Growth
Nearly doubling TTM revenue signals durable demand and successful pricing/revenue management across CCU’s beverage portfolio. Persistent top-line expansion improves scale economies, supports investment in brand and distribution, and creates headroom to offset cyclical shocks over the medium term.
Negative Factors
Compressed Profitability
Margins have materially thinned versus historical levels, reducing the company’s earnings buffer against input cost inflation, excise taxes, or volume softness. Sustained lower margins weaken return on capital and limit internal funding for growth or de-leveraging over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Nearly doubling TTM revenue signals durable demand and successful pricing/revenue management across CCU’s beverage portfolio. Persistent top-line expansion improves scale economies, supports investment in brand and distribution, and creates headroom to offset cyclical shocks over the medium term.
Read all positive factors
Compania Cervecerias Unidas SA (CCU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.18B
Dividend Yield2.42%
Average Volume (3M)180.92K
Price to Earnings (P/E)19.2
Beta (1Y)0.56
Revenue Growth0.56%
EPS Growth-28.00%
CountryUS
Employees9,251
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Alcoholic
Share Statistics
EPS (TTM)552.72
Shares Outstanding184,751,430
10 Day Avg. Volume169,199
30 Day Avg. Volume180,916
Financial Highlights & Ratios
PEG Ratio-0.63
Price to Book (P/B)1.44
Price to Sales (P/S)0.77
P/FCF Ratio23.19
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$10.53Price Target Upside-8.08% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering2
EPS Forecast (FY)702.62
Revenue Forecast (FY)$3.05T
Compania Cervecerias Unidas SA Business Overview & Revenue Model
Company Description
Compañía Cervecerías Unidas S.A. (CCU) functions as a prominent beverage enterprise, active throughout Chile, Argentina, Bolivia, Colombia, Paraguay, and Uruguay. The company's operations are organized into three distinct divisions: Chile, Interna...
How the Company Makes Money
CCU makes money primarily by manufacturing and selling beverages to retail and on-premise customers (e.g., supermarkets, convenience stores, bars, restaurants) and, where applicable, through direct distribution using its logistics network. The cor...
Compania Cervecerias Unidas SA Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call presented a materially positive operational quarter at the consolidated level — highlighted by a 59.4% increase in consolidated EBITDA, strong performance and margin expansion in Chile, improved results in the international business, and strategic progress including full ownership of the water JV and a new company-wide strategic agenda. Offsetting these positives were significant weaknesses in the wine segment (large revenue, margin and EBITDA declines), a substantial one-time impairment related to Bolivia (CLP 6,068 million) that hurt net income, restructuring charges, distribution cost pressures from higher oil prices, and a rise in leverage after the water acquisition. Management emphasized efficiency initiatives, digital transformation, and a medium-term plan to drive synergies and margin recovery, while noting ongoing macro uncertainty in Argentina and challenges in Bolivia.Positive Updates
Strong Consolidated EBITDA Growth
Consolidated EBITDA expanded 59.4% year-over-year, driven by strong operational performance in Chile and improvements in the international business.
Negative Updates
Sharp Wine Segment Weakness
Wine operating segment EBITDA contracted 61.9% year-over-year. Revenue fell 14.1% (volumes down 13.7%, average prices down 0.5%), gross profit declined 26.9%, and the segment incurred restructuring expenses of CLP 1,633 million. Management cited unfavorable global wine category trends and higher cost of wine.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Consolidated EBITDA Growth
Consolidated EBITDA expanded 59.4% year-over-year, driven by strong operational performance in Chile and improvements in the international business.
Read all positive updates
Company Guidance
Management’s guidance focused on executing the new “Vamos por Más” 4‑pillar strategy and a new 4‑year plan to 2030 with KPIs, keeping the hedging policy unchanged and maintaining a dividend policy to distribute at least 50% of net income; they expect a gradual recovery in Argentina volumes in H2‑2026 (month‑on‑month improvement since March), see the Chile water industry expanding low double‑digit as of June 2026, and will pursue synergies, restructuring and high‑margin innovation (including RTD expansion). Key metrics cited: consolidated Q2 — net sales +4.8%, average prices +6.4% (CLP), volumes -1.5%, gross profit +6.8% (+76 bps margin), MSD&A +3.3% (‑62 bps as % of sales), EBITDA +59.4%; Chile segment — net sales +1.5%, volumes +2.5%, avg prices -1%, gross profit +9.4%, EBITDA +26.2% (EBITDA margin +264 bps); International — net sales +15.7%, avg prices +24.9%, volumes -7.4%, gross profit +20.8%, EBITDA loss reduced 25.8%; Wine — revenue -14.1%, volumes -13.7%, avg prices -0.5%, gross profit -26.9%, EBITDA -61.9%. They disclosed restructuring charges of CLP 1,408m (Argentina) and CLP 1,633m (wine), an earlier nonrecurring impairment of CLP 6,068m (Q2‑2025), completion of the Nestlé Chile water transaction to reach 100% ownership (accretive), and that net debt/EBITDA moved from ~1.7x to ~2.4x with a target range around 1.5–2.5x over time.Compania Cervecerias Unidas SA Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
63
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.94T | 2.77T | 2.90T | 2.57T | 2.71T | 2.48T |
| Gross Profit | 1.31T | 1.23T | 1.31T | 1.19T | 1.20T | 1.19T |
| EBITDA | 321.44B | 328.57B | 416.02B | 344.05B | 338.18B | 454.00B |
| Net Income | 103.74B | 111.40B | 160.94B | 105.65B | 118.17B | 199.16B |
Balance Sheet | ||||||
| Total Assets | 3.46T | 3.76T | 3.99T | 3.42T | 3.60T | 2.85T |
| Cash, Cash Equivalents and Short-Term Investments | 346.97B | 530.62B | 707.95B | 621.47B | 609.04B | 279.58B |
| Total Debt | 1.29T | 1.33T | 1.41T | 1.33T | 1.37T | 573.65B |
| Total Liabilities | 1.91T | 2.14T | 2.32T | 2.09T | 2.16T | 1.42T |
| Stockholders Equity | 1.43T | 1.48T | 1.53T | 1.22T | 1.32T | 1.31T |
Cash Flow | ||||||
| Free Cash Flow | 146.45B | 91.92B | 127.43B | 164.65B | -157.67B | 121.50B |
| Operating Cash Flow | 301.39B | 227.31B | 287.52B | 294.10B | 45.94B | 293.36B |
| Investing Cash Flow | -360.49B | -156.23B | -118.29B | -137.23B | -236.46B | -178.99B |
| Financing Cash Flow | -93.34B | -196.43B | -125.04B | -118.04B | 537.10B | -233.64B |
Compania Cervecerias Unidas SA Technical Analysis
Positive
11.45
Price Trends
11.41
Positive
11.52
Positive
12.32
Negative
Market Momentum
0.12
Positive
54.33
Neutral
38.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CCU, the sentiment is Positive. The current price of 11.45 is below the 20-day moving average (MA) of 11.69, above the 50-day MA of 11.41, and below the 200-day MA of 12.32, indicating a neutral trend. The MACD of 0.12 indicates Positive momentum. The RSI at 54.33 is Neutral, neither overbought nor oversold. The STOCH value of 38.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CCU.
Compania Cervecerias Unidas SA Risk Analysis
Compania Cervecerias Unidas SA disclosed 31 risk factors in its most recent earnings report. Compania Cervecerias Unidas SA reported the most risks in the "Macro & Political" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Compania Cervecerias Unidas SA Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $44.54B | 14.18 | 18.13% | 4.28% | 4.24% | 19.95% | |
71 Outperform | $23.80B | 19.71 | 13.60% | 6.08% | 18.16% | 89.79% | |
65 Neutral | $157.69B | 13.34 | 12.72% | 1.65% | 6.60% | 31.61% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | $2.18B | 19.24 | 6.96% | 2.49% | 0.56% | -28.00% | |
57 Neutral | $7.99B | -3.71 | -22.65% | 4.64% | -1.77% | -326.16% | |
55 Neutral | $1.91B | -27.36 | -8.89% | ― | -6.06% | -195.51% |
* Consumer Defensive Sector Average
CCU
Compania Cervecerias Unidas SA
11.79
-0.60
-4.86%
BUD
Anheuser-Busch Inbev Sa
79.73
18.98
31.24%
SAM
Boston Beer
185.77
-30.19
-13.98%
FMX
Fomento Economico Mexicano
118.27
38.26
47.83%
TAP
Molson Coors
42.77
-6.25
-12.75%
ABEV
Ambev SA
2.80
0.70
33.21%
Compania Cervecerias Unidas SA Corporate Events
Compañía Cervecerías Unidas Reports June 30, 2026 Interim Financial Position
Aug 6, 2026
Compañía Cervecerías Unidas S.A. filed its interim consolidated financial statements for the six-month period ended June 30, 2026, detailing its financial position and performance in thousands of Chilean pesos. The filing shows tota...
CCU posts strong EBITDA but deeper loss in Q2 2026 as new CEO launches “Vamos por Más” strategy
Aug 5, 2026
Compañía Cervecerías Unidas S.A. (CCU), headquartered in Santiago, Chile, is a leading beverage producer with operations in beer, spirits, non-alcoholic drinks, and wine across Chile and international markets such as Argentina. The ...
CCU Takes Full Control of Aguas CCU-Nestlé in CLP 164.6 Billion Deal
Jun 5, 2026
On June 5, 2026, CCU disclosed that, following unanimous board approval on May 6, 2026, it executed a share purchase agreement to acquire Nestlé Chile’s 49.9% stake in Aguas CCU-Nestlé Chile S.A. The deal makes CCU the direct and i...
CCU Announces Major Board and CEO Transition as Heineken Executive Joins Leadership
May 29, 2026
On May 29, 2026, CCU announced a sweeping leadership reshuffle, with Vice-chairman and director Carlos Molina resigning effective July 31, 2026, to be replaced by Heineken Americas president Alexandre Othenio Carreteiro from August 1. Director Rod...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.