CCU

MKT CAP:$2B

Compañía Cervecerías Unidas S.A.

Market Cap

$2B

Consumer Defensive·Beverages - Alcoholic· Chile·NYSE

Consumer Def.·Beverages·NYSE

Stock Price

$12.30-$0.37 (-2.92%)

Apr 17, 2026

Company Details

Compañía Cervecerías Unidas S.A. operates as a beverage company in Chile, Argentina, Bolivia, Colombia, Paraguay, and Uruguay. The company operates through three segments: Chile, International Business, and Wine. It produces and sells alcoh...

CEO

Patricio Jottar Nasrallah

IPO Date

Sep 24, 1992

Website

www.ccu.cl

Key Metrics TTM

Revenue

$3.6B

+27.2% YoY

Net Income

$196M

EPS (Diluted)

$1.04

Free Cash Flow

$258M

Revenue / Share

$19.44

Gross Margin

45.8%

Operating Margin

9.6%

Net Margin

5.5%

FCF Margin

7.2%

P/S

0.6x

P/E

10.8x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Dec 30, 2025

$3.1B-4.7%EPS $0.68

Q4 2025

Feb 24, 2026

$930M-14.7%EPS $0.33

Q2 2025

Aug 8, 2025

$653M+10.5%EPS -$0.07

Q1 2025

May 7, 2025

$920M+9.6%EPS $0.33

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 20	$358M	$151M	-$11M
Q3 20	$482M	$214M	$32M
Q1 21	$641M	$326M	$111M
Q1 22	$788M	$364M	$109M
Q3 22	$770M	$329M	$39M
Q1 23	$824M	$399M	$109M
Q2 23	$646M	$281M	$11M
Q3 23	$773M	$358M	$63M
Q4 23	$644M	$297M	$87M
Q1 24	$840M	$396M	$101M
Q2 24	$590M	$236M	-$3M
Q3 24	$749M	$324M	$33M
Q4 24	$1.1B	$521M	$164M
Q1 25	$920M	$430M	$95M
Q2 25	$653M	$267M	-$30M
Q4 25	$930M	$428M	$117M

Valuation

Quarter	P/S	P/E
Q2 20	1.0x	20.3x
Q3 20	1.0x	19.6x
Q1 21	1.0x	17.8x
Q1 22	0.9x	13.7x
Q3 22	0.8x	11.9x
Q1 23	0.7x	9.2x
Q2 23	0.7x	13.8x
Q3 23	0.7x	23.2x
Q4 23	0.7x	17.8x
Q1 24	0.7x	18.9x
Q2 24	0.7x	17.4x
Q3 24	0.8x	14.6x
Q4 24	0.6x	11.7x
Q1 25	0.6x	11.3x
Q2 25	0.6x	12.5x
Q4 25	0.6x	10.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 20	-$51M	-$83M
Q3 20	$81M	$47M
Q1 21	$125M	$93M
Q1 22	$57M	$27M
Q3 22	-$23M	-$86M
Q1 23	$105M	$81M
Q2 23	$60M	$26M
Q3 23	$66M	$15M
Q4 23	$100M	$66M
Q1 24	$136M	$86M
Q2 24	-$39M	-$80M
Q3 24	$53M	$14M
Q4 24	$173M	$127M
Q1 25	$147M	$115M
Q2 25	-$36M	-$73M
Q4 25	$132M	$90M

Capital Expenditures

Quarter	CapEx
Q2 20	$32M
Q3 20	$33M
Q1 21	$32M
Q1 22	$31M
Q3 22	$63M
Q1 23	$25M
Q2 23	$34M
Q3 23	$51M
Q4 23	$34M
Q1 24	$50M
Q2 24	$41M
Q3 24	$39M
Q4 24	$47M
Q1 25	$32M
Q2 25	$37M
Q4 25	$42M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 20	-15.6%	-7.0%
Q3 20	+9.8%	+13.5%
Q1 21	-1.5%	-7.4%
Q1 22	+37.0%	+36.7%
Q3 22	+114.9%	+98.1%
Q1 23	+70.9%	+58.9%
Q2 23	+0.8%	+19.8%
Q3 23	-2.0%	+4.5%
Q4 23	-16.3%	-23.7%
Q1 24	+1.9%	+3.3%
Q2 24	-8.6%	-6.5%
Q3 24	-3.0%	+0.9%
Q4 24	+69.1%	+65.8%
Q1 25	+9.6%	+11.8%
Q2 25	+10.5%	+15.0%
Q4 25	+24.1%	+13.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 20	$0	0.0%
Q3 20	$0	0.0%
Q1 21	$0	0.0%
Q1 22	$0	0.0%
Q3 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q2 20	$37M	$76M	—
Q3 20	$36M	$87M	—
Q1 21	$37M	$108M	—
Q1 22	$40M	$138M	—
Q3 22	$62M	$149M	—
Q1 23	$36M	$156M	—
Q2 23	$59M	$131M	—
Q3 23	$70M	$137M	—
Q4 23	$56M	$104M	—
Q1 24	$48M	$152M	—
Q2 24	$64M	$127M	—
Q3 24	$65M	$142M	—
Q4 24	$81M	$183M	—
Q1 25	$59M	$167M	—
Q2 25	$62M	$137M	—
Q4 25	—	—	$225M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1M	$20.2K	$1M
Q2 22	$773.6K	$58.1K	$831.7K
Q3 22	$746.6K	$61.6K	$808.1K
Q4 22	$672M	$13M	$685M
Q1 23	$814.6K	$53.3K	$868.0K
Q2 23	$829.2K	$35.9K	$865.1K
Q3 23	$789.3K	$11.0K	$800.3K
Q4 23	$696M	$4M	$699M
Q1 24	$779M	$5M	$784M
Q2 24	$716M	$840.0K	$717M
Q3 24	$674M	$904.6K	$675M
Q4 24	$796M	$925.4K	$797M
Q1 25	$868M	$1M	$869M
Q2 25	$575M	$0	$575M
Q3 25	$561M	$0	$561M
Q4 25	$586M	$11M	$597M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 20	185M	0.0%	0.0%
Q3 20	185M	0.0%	0.0%
Q1 21	185M	0.0%	0.0%
Q1 22	185M	0.0%	0.0%
Q3 22	185M	0.0%	0.0%
Q1 23	185M	0.0%	0.0%
Q2 23	185M	0.0%	0.0%
Q3 23	185M	+0.0%	+0.0%
Q4 23	185M	0.0%	+0.0%
Q1 24	185M	0.0%	+0.0%
Q2 24	185M	0.0%	+0.0%
Q3 24	185M	0.0%	0.0%
Q4 24	185M	0.0%	0.0%
Q1 25	185M	0.0%	0.0%
Q2 25	185M	0.0%	0.0%
Q4 25	185M	0.0%	0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 20	$40.0K	9K
Q3 20	$53.8K	9K
Q1 21	$72.9K	9K
Q1 22	$88.0K	9K
Q3 22	$85.9K	9K
Q1 23	$91.0K	9K
Q2 23	$71.4K	9K
Q3 23	$85.4K	9K
Q4 23	$68.9K	9K
Q1 24	$89.8K	9K
Q2 24	$63.2K	9K
Q3 24	$80.2K	9K
Q4 24	$116.5K	9K
Q1 25	$98.4K	9K
Q2 25	$69.8K	9K
Q4 25	$99.4K	9K

Revenue / Employee