BUD

Anheuser-Busch INBEV SA/NV
D

BUD

Arincen70/100B

Anheuser-Busch INBEV SA financials

Yes. Anheuser-Busch INBEV SA/NV earned 7.91B USD of net income over the last twelve months, 16.3% of its revenue. It made a profit in 24 of its 24 fiscal years since 2002.

Revenue (TTM)
48.44B USD
Net income (TTM)
7.91B USD
Free cash flow (TTM)
13.73B USD
Cash and short-term investments
7.91B USD
Total debt
72.32B USD
Shareholders' equity
93.50B USD

Cash, debt and equity as of 30 Jun 2026.

Anheuser-Busch INBEV SA earnings

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
H2 FY20261.090.81-25.69%-18.18%15.91B16.51B+3.78%-44.97%
H1 FY20261.141.21+6.14%+49.38%16.41B31.93B+94.55%+6.83%
H1 FY20260.900.97+7.78%+19.75%14.69B30.61B+108.39%+2.41%
H2 FY20250.970.99+2.06%+1.02%15.60B30.01B+92.42%+0.43%
H1 FY20250.770.81+5.19%+8.00%15.54B29.89B+92.28%-0.53%
H2 FY20240.890.98+10.11%+13.95%14.79B29.88B+102.02%+1.86%

Anheuser-Busch INBEV SA growth and profitability

Full income statement
Revenue (TTM)
48.44B USD
Net income (TTM)
7.91B USD
Gross margin
56.83%
Operating margin
27.31%
Net margin
16.33%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY202559.32B-0.75%6.84B+16.77%55.93%26.38%11.53%20.84B+2.70%
FY202459.77B+0.65%5.86B+9.62%55.25%25.91%9.80%20.30B+6.45%
FY202359.38B+2.76%5.34B-10.52%53.86%23.52%8.99%19.07B+0.45%
FY202257.79B+6.41%5.97B+27.82%54.48%25.12%10.33%18.98B+6.71%
FY202154.30B+15.83%4.67B+232.38%57.47%25.46%8.60%17.79B+56.61%

How Anheuser-Busch INBEV SA makes its money

Beer business53.05B 89.4%
Non-beer business6.27B 10.6%
Revenue59.32B 100.0%
Cost of revenue26.14B 44.1%
Gross profit33.18B 55.9%
Selling and administration18.13B 30.6%
Operating income15.65B 26.4%
Tax2.85B 4.8%
Other expense5.96B 10.1%
Net income6.84B 11.5%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Anheuser-Busch INBEV SA revenue breakdown

By product

FY2025
Beer business: 89.4%Non-beer business: 10.6%89.4%Beer business10.6%Non-beer business
SegmentRevenueShare of revenueChange on the year
Beer business53.05B89.4%—
Non-beer business6.27B10.6%—

By region

FY2025
United States: 56.7%Brazil: 40.1%Belgium: 3.2%56.7%United States40.1%Brazil3.2%Belgium
RegionRevenueShare of revenueChange on the year
United States12.38B56.7%—
Brazil8.77B40.1%—
Belgium696.00M3.2%—

Operating and free cash flow

Full cash flow statement
Operating cash flow Free cash flow
Fiscal yearOperating cash flowFree cash flow
FY202514.93B11.26B
FY202415.03B11.17B
FY202313.29B8.64B
FY202212.93B7.77B
FY202114.58B8.95B
FY202010.00B6.20B
FY201912.55B7.38B
FY201813.65B8.65B
FY201715.59B10.80B
FY201610.09B5.12B

Anheuser-Busch INBEV SA financial health

Full balance sheet
Cash and short-term investments
7.91B USD
Total debt
72.32B USD
Net cash
-64.41B USD
Free cash flow (TTM)
13.73B USD
Current ratio
0.66
Debt to equity
0.77
Piotroski score
7 / 9
Altman Z-score
1.58

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY202511.94B73.03B11.26B
FY202411.40B72.17B11.17B
FY202310.40B78.17B8.64B
FY202210.00B79.99B7.77B
FY202112.39B88.83B8.95B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity
Fiscal yearTotal assetsTotal liabilitiesShareholders' equity
FY2025218.81B121.07B87.29B
FY2024206.64B117.94B78.24B
FY2023219.34B126.66B81.85B
FY2022212.94B128.67B73.40B
FY2021217.63B138.29B68.67B
FY2020226.41B148.06B68.02B
FY2019236.65B152.10B75.72B
FY2018232.10B160.20B64.49B
FY2017246.13B165.91B72.59B
FY2016258.38B176.96B71.34B

Anheuser-Busch INBEV SA valuation

Price to earnings ratio (TTM)
20.99
Forward P/E (FY2026)
18.93
Price to sales (TTM)
3.41
Price to book
1.77
EV / EBITDA (TTM)
13.01

Capital structure

Market capitalization
165.31B USD
+
Total debt
72.32B USD
−
Cash and short-term investments
7.91B USD
=
Enterprise value
229.72B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2029 (est.)13.97————
FY2028 (est.)15.5613.97———
FY2027 (est.)17.0815.56———
Now (TTM)20.9917.333.411.7713.01
FY202518.5114.442.141.469.04
FY202417.1513.711.681.287.95
FY202324.3819.402.191.5910.39
FY202220.2220.282.091.6510.06
FY202125.9920.042.241.7711.15

Anheuser-Busch INBEV SA against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: PepsiCo, Altria Group, Monster Beverage, Mondelez International, Philip Morris International, and Colgate-Palmolive, the US Consumer Defensive companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Above its median21.0
    15.526.9
  • Gross marginAbove its median55.9%
    53.9%57.5%
    Against its peers: 4 of 7Peers' median 58.0%
  • Operating marginHighest in 5 years26.4%
    23.5%26.4%
    Against its peers: 4 of 7Peers' median 22.7%
  • Net marginHighest in 5 years11.5%
    8.6%11.5%
    Against its peers: 4 of 7Peers' median 16.7%
  • Return on equityAbove its median7.8%
    6.5%8.1%
    Against its peers: 5 of 5Peers' median 31.7%
  • Free cash flow marginHighest in 5 years19.0%
    13.4%19.0%
    Against its peers: 4 of 7Peers' median 20.8%
  • Revenue growthLowest in 5 years-0.7%
    -0.7%15.8%
    Against its peers: 6 of 7Peers' median 4.0%
  • EPS growthAt its median21.0%
    -10.7%225.7%
    Against its peers: 3 of 7Peers' median -19.4%
  • Debt to EBITDALowest in 5 years3.50×
    3.50×4.99×
    Against its peers: 6 of 7Peers' median 2.49×
  • Current ratioHighest in 5 years0.72
    0.630.72
    Against its peers: 5 of 7Peers' median 0.84

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Anheuser-Busch INBEV SA dividends

Annual dividend
2.35 USD
Dividend yield (indicated)
2.80%
Payout ratio
33.69%
Years of dividend growth
4
Frequency
Semi-annual
Last payment
1.17 USD
Last ex-dividend date
8 May 2026
Last payment date
5 Jun 2026

Dividends per share

Year2025202420232022202120202019201820172016
Dividends per share1.300.880.820.530.600.552.013.393.974.01

Anheuser-Busch INBEV SA ownership

Institutions
4.85%
Institutional holders
654 (+71)
Free float
88.85%

Who owns the shares

Institutions 4.9% Others 95.1%
As of 30 Jun 2026

Shares free to trade

Free float 1.75B shares ·88.8% Closely held 219.63M shares ·11.2%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY20251.98B1.98B-2.93%
FY20242.00B2.04B-0.49%
FY20232.02B2.05B+0.20%
FY20222.01B2.05B+0.24%
FY20212.01B2.05B+2.35%

Common questions about Anheuser-Busch INBEV SA's financials

Source: Financial Modeling Prep

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