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Compania Cervecerias Unidas SA (CCU) Fair Value & Analysis

Consumer Defensive · CL · Market cap 1.9T CLP (≈ $2.1B) · ISIN CLP249051044

What is Compania Cervecerias Unidas SA really worth?

CC Compania Cervecerias Unidas SA CCU · SN
Price5,543 CLP
Fair Value5,087 CLP
Upside−8.2%
Quality50/100

A solid business, currently priced close to our fair value of 5,087 CLP.

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Strengths

Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +9.4 %/yr)
!Thin margins · 3.9% net margin
!Mixed vs. peers (7/15)
!Narrow moat 42/100
!Weak on valuation: 22 out of 100
!Weak on future: 1 out of 100

For context

·2.86% dividend yield
Evidence: High Range 3,378 CLP – 8,190 CLP

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from 5,535 CLP to 5,087 CLP (−8.1%) since Jul 15, 2026. Share price +4.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (3,378 CLP to 8,190 CLP) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

7,121 CLP 3,991 CLP Fair Value 5,087 CLP May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 3,991 CLP – 7,121 CLP · fair‑value band 3,378 CLP – 8,190 CLP · the 5,543 CLP price screens above the 5,087 CLP fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Compania Cervecerias Unidas SA (CCU) currently trades at 5,543 CLP, while our model-based Fair Value estimate is 5,087 CLP, implying the stock looks roughly 9.0% fairly valued today. The Quality Score stands at 50/100 (solid quality), in the Consumer Defensive sector. Bull case: the Multiples group reads highest at a median of 6,049 CLP per share, and 10 of the 24 models we run sit above the 5,543 CLP price. Bear case: the Earnings-Based group reads lowest at 1,937 CLP, and 14 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Compania Cervecerias Unidas SA generated revenue of 2.9T CLP at a net margin of 3.9%. Revenue grew 0.2% year over year. It earns a return on equity of 7.9%. Net debt stands at 679B CLP. Fundamentals as of Aug 13, 2026

Our scenario range runs from 3,378 CLP (bear case) to 8,190 CLP (bull case); at 5,543 CLP, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −5% fair-value upside, at −8%, CCU screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 98.92 CLP per share, which is 1.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF 1,244 CLP 2,756 CLP 5,150 CLP 76
Residual Income 3,367 CLP 3,631 CLP 4,439 CLP 76
Growth DCF 1,306 CLP 2,665 CLP 4,698 CLP 75
All 24 models by family
DCF Models
FCF DCF 1,244 CLP 2,756 CLP 5,150 CLP 76
Owner Earnings 1,252 CLP 2,768 CLP 5,170 CLP 72
5Y Revenue Exit 2,786 CLP 5,699 CLP 9,438 CLP 70
5Y EBITDA Exit 4,685 CLP 9,222 CLP 14,525 CLP 73
5Y P/E Exit 2,441 CLP 5,059 CLP 7,791 CLP 69
10Y Revenue Exit 2,059 CLP 4,631 CLP 8,110 CLP 64
10Y EBITDA Exit 3,458 CLP 7,123 CLP 12,053 CLP 66
10Y P/E Exit 1,999 CLP 4,179 CLP 6,834 CLP 62
Earnings-Based
Graham-Dodd 2,156 CLP 6,423 CLP 8,505 CLP 65
Lynch FV 1,356 CLP 1,937 CLP 2,518 CLP 61
PEG = 1.0 1,356 CLP 1,937 CLP 2,518 CLP 57
EPV 3,761 CLP 4,670 CLP 5,477 CLP 74
Multiples
P/E Multiple 4,994 CLP 6,658 CLP 8,323 CLP 63
P/S Multiple 4,042 CLP 5,390 CLP 6,737 CLP 58
P/B Multiple 4,042 CLP 5,390 CLP 6,737 CLP 55
EV/EBIT 5,906 CLP 8,338 CLP 10,770 CLP 65
EV/EBITDA 7,413 CLP 10,347 CLP 13,280 CLP 67
EV/Revenue 3,818 CLP 6,049 CLP 8,281 CLP 53
Asset-Based
NCAV (Graham) 1,992 CLP 2,669 CLP 3,984 CLP 54
Growth DCF
Growth DCF 1,306 CLP 2,665 CLP 4,698 CLP 75
Rev-Margin DCF 2,786 CLP 5,659 CLP 8,900 CLP 71
Economic Profit
Residual Income 3,367 CLP 3,631 CLP 4,439 CLP 76
ROIC Compounder 3,761 CLP 5,072 CLP 6,906 CLP 71
Growth Earnings
Growth-Adj P/E 4,068 CLP 5,811 CLP 7,555 CLP 67

Widest divergence: Multiples (6,049 CLP) versus Earnings-Based (1,937 CLP). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 18.2
P/S ratio 0.73 P/E × margin
EPS (TTM) 304.11 CLP price ÷ EPS = P/E 18.2
Dividend yield 2.9% payout 52.1%
Net margin 4.0% FY2025
Return on equity 7.9% TTM
More key figures
Profitability
Return on assets (EBIT) 7.2% avg 5y
Operating margin 11.8% TTM
Growth
Revenue (TTM) 2.9T CLP TTM
Revenue growth (YoY) +0.2% 3y avg +2.4%
EPS growth (YoY) −6.8%
Balance sheet & cash flow
Free cash flow 82.1B CLP FY2025
Net debt 679B CLP FY2025 · ≈ 8.3 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 47 · Market factors (momentum, volatility) 53

Profitability 44
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 11
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Compañía Cervecerías Unidas S.A., together with its subsidiaries, operates as a diversified beverage company in Chile, Argentina, Bolivia, Colombia, Paraguay, and Uruguay. It operates through three segments: Chile, International Business, and Wine.

Full company description

Compañía Cervecerías Unidas S.A., together with its subsidiaries, operates as a diversified beverage company in Chile, Argentina, Bolivia, Colombia, Paraguay, and Uruguay. It operates through three segments: Chile, International Business, and Wine. The company offers wines, soft, isotonic, and sports drinks, nectars, iced tea, pisco, rum, cider, liquors, beers, spirits, cocktails, coolers, and cockail wines; and spring, bottled, mineral, and saborized water. It provides its products under the Cristal, Escudo, Royal Guard, Morenita, Dorada, Andes, Bavaria, Stones, Heineken, Sol, Coors, Austral, Polar Imperial, Patagonia, Kunstmann, Guayacán, D´olbek, Mahina, Volcanes del Sur, Bilz, Pap, Kem, Kem Xtreme, Nobis, Pop, Cachantun, Mas, Mas Woman, Porvenir, Manantial, Red Bull, Rockstar, Perrier, Mistral, Tres Erres, Campanario, Horcón Quemado, Control Valle del Encanto, Espíritu de los Andes, La Serena, Iceberg, Hard Fresh, Ruta, Cocktail, Sabor Andino Sour, Horcón Quemado Sour, Sierra Morena, Cabo Viejo, Kantal, Fehrenberg, Barsol, Puklaro, Pernod Ricard, Fratelli Branca, Sidra 1888, La Pizka, Palermo, Santa Fé, Salta, Córdoba, Isenbeck, Norte, Iguana, Miller Genuine Draft, Amstel, Warsteiner, Grolsch, Blue Moon, Sidra Real, La Victoria, Pehuenia, El Abuelo, Eugenio Bustos, La Celia, Colón, Graffina, Santa Silvia, Villavicencio, Villa del Sur, Levité, Ser, Brío, Altaïr, Cabo de Hornos, Sideral, 1865, Castillo de Molina, Epica, Gato, GatoNegro, Reserva, Gran Reserva, Single Vineyard, Lot series, Misiones de Rengo Varietal, Reserva, Cuvée, Gran Reserva Black, Mision, Sparkling line, Alpaca, Reservado, Siglo de Oro Reserva de Viña Santa Helena, Viñamar, Donnaluna, Manquehuito, Graffigna, Colón, Colón Selecto, Nativa, Nix, Watt's, FullSport, 1888, Imperial, Escudo Silver, Kuntsmann, Miller, and Schneider brands. The company was founded in 1850 and is based in Santiago, Chile. Compañía Cervecerías Unidas S.A. operates as a subsidiary of Inversiones y Rentas S.A.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Compania Cervecerias Unidas SA reported revenue of 2.9T CLP in FY2025 versus 2.5T CLP in FY2021, a compound +4.0%/yr. Reported net income was 117B CLP in FY2025, compounding −12.4%/yr from FY2021.

Growth Quality 74/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.9T CLP
Latest YoY
+0.2%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.4%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.4%
Avg. revenue growth/yr (11Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.6%
Value creation/yr (5Y, in CLP) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in CLP: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+0.8% (−2.1 + 2.9)
Revenue +4.0%/yr
FY21 2.5T CLP
FY22 2.7T CLP
FY23 2.6T CLP
FY24 2.9T CLP
FY25 2.9T CLP
Net income −12.4%/yr
FY21 199B CLP
FY22 118B CLP
FY23 106B CLP
FY24 161B CLP
FY25 117B CLP

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Cite: Fair Value Calculator (2026). "Compania Cervecerias Unidas SA Fair Value". https://www.fairvalue-calculator.com/stock/CCU

Peer Group

Beverages - Brewers · 56 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 50 · Bottom 25%
Fair Value upside −8% · Below median
Return on equity (TTM) 8% · Below median
Return on assets 3% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 12% · Above median
Revenue growth 0% · Above median
Dividend yield (TTM) 2.9% · Below median
Debt / equity 0.70× · Higher than 75% of peers

Valuation Multiples vs Beverages - Brewers median · lower = cheaper

P/E (TTM) 18.2× · Pricier than median
P/B 1.31× · Cheaper than median
P/S (TTM) 0.66× · Cheaper than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 7.3× · Cheaper than median
PEG 1.67× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE22 · sector 28
FUTURE1 · sector 0
PAST32 · sector 36
HEALTH65 · sector 97
DIVIDEND57 · sector 63

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Alcohol

Similar stocks

10 more Beverages - Brewers stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Anheuser-Busch InBev SA ABI €68.28 €60.24 −12%
Heineken N.V HEIA €72.70 €65.06 −11%
Ambev S.A ABEV $2.86 $4.05 +42%
Fomento Económico Mexicano, S.A. FMX $120.41 $54.74 −55%
Constellation Brands, Inc STZ $129.09 $173.19 +34%
Carlsberg A/S CARLA kr 1,115 kr 607.30 −46%
Heineken Holding HEIO €68.25 €60.55 −11%
Tsingtao Brewery Company 600600 ¥51.63 ¥63.65 +23%
Budweiser Brewing Company 1876 HK$6.35 HK$6.05 −5%
China Resources Beer (Holdings) Company 0291 HK$22.16 HK$25.38 +15%

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Frequently asked questions

Is Compania Cervecerias Unidas SA (CCU) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 5,087 CLP versus a price of 5,543 CLP, about −8% upside (fairly valued).
What is the fair value of CCU?
Our model-based fair value for Compania Cervecerias Unidas SA is 5,087 CLP (as of Aug 13, 2026), built from audited fundamentals. The current price: 5,543 CLP.
What is the quality score of CCU?
Compania Cervecerias Unidas SA has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Compania Cervecerias Unidas SA (CCU)?
Compania Cervecerias Unidas SA reported trailing-twelve-month revenue of about 2.9T CLP (latest available figure, as of Aug 13, 2026).
What is the net profit margin of CCU?
The net profit margin of Compania Cervecerias Unidas SA is about 3.9%, meaning it keeps roughly 3.9% of revenue as net income. Based on the latest reported figures.
Does Compania Cervecerias Unidas SA pay a dividend?
Compania Cervecerias Unidas SA currently shows a dividend yield of about 2.86% relative to its recent price (as of Aug 13, 2026).
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