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Anheuser-Busch InBev SA/NV (BUD)

Market Price (9/18/2025): $58.82 | Market Cap: $117.3 Bil
Sector: Consumer Staples | Industry: Brewers

Anheuser-Busch InBev SA/NV (BUD)

Market Price (9/18/2025): $58.82
Market Cap: $117.3 Bil
Sector: Consumer Staples
Industry: Brewers

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.9%		 Weak multi-year price returns
2Y Excs Rtn is -39%, 3Y Excs Rtn is -42%		 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.5%, Rev Chg QQuarterly Revenue Change % is -6.3%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26%		  
2 Low stock price volatility
Vol 12M is 26%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.9%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26%
2 Low stock price volatility
Vol 12M is 26%
3 Weak multi-year price returns
2Y Excs Rtn is -39%, 3Y Excs Rtn is -42%
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.5%, Rev Chg QQuarterly Revenue Change % is -6.3%

Market Valuation

 9/18/252024202320222021
Share Price CYE$58.82$49.28$62.66$57.47$57.41
Market Cap CYE ($ Bil)117.398.6126.3115.7115.4
Total Debt ($ Bil)0.072.278.280.088.8
Total Cash ($ Bil)0.011.410.410.012.4
Enterprise Value ($ Bil)0.0170.8204.5195.7204.2
Valuation Ratios     
P/S TTM2.01.72.22.12.2
P/EBIT TTM7.56.89.58.79.5
P/E TTM17.017.124.420.226.0
Sector Ratios     
P/S TTM (Sector)0.90.90.90.91.6
P/EBIT TTM (Sector)8.48.910.09.411.6
P/E TTM (Sector)12.612.114.011.616.2
 9/18/2520242023
Share Price CYE$58.82$49.28$62.66
Market Cap CYE ($ Bil)117.398.6126.3
Total Debt ($ Bil)0.072.278.2
Total Cash ($ Bil)0.011.410.4
Enterprise Value ($ Bil)0.0170.8204.5
Valuation Ratios   
P/S TTM2.01.72.2
P/EBIT TTM7.56.89.5
P/E TTM17.017.124.4
Sector Ratios   
P/S TTM (Sector)0.90.90.9
P/EBIT TTM (Sector)8.48.910.0
P/E TTM (Sector)12.612.114.0

Market Cap Chart

Business Description

Anheuser-Busch InBev SA/NV engages in the production, distribution, and sale of beer, alcoholic beverages, and soft drinks worldwide. It offers a portfolio of approximately 500 beer brands, which primarily include Budweiser, Corona, and Stella Artois; Beck's, Hoegaarden, Leffe, and Michelob Ultra; and Aguila, Antarctica, Bud Light, Brahma, Cass, Castle, Castle Lite, Cristal, Harbin, Jupiler, Modelo Especial, Quilmes, Victoria, Sedrin, and Skol brands. The company was founded in 1366 and is headquartered in Leuven, Belgium. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
BUD Return-14%-13%0%9%-21%19%-24%
Peers Return55%25%-9%29%4%-14%104%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: COKE, TAP, FIZZ, SAM. See BUD Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)

Interactive Breakdown

Anheuser-Busch InBev SA/NV Interactive Breakdown Analysis

Better Bets than Anheuser-Busch InBev SA/NV (BUD)

 BUDBetter Performance than BUD
MetricValueIndustry (Brewers)
Rev Chg LTM-1.5%SAM (2.5%)
Rev Chg 3Y Avg2.2%TAP (2.3%)
Op Mgn LTM25.7%
Total Yield5.9%TAP (15.0%)
 BUDBetter Performance than BUD
MetricValueAll Other Sectors
Rev Chg LTM-1.5%NVDA (71.6%), MSFT (14.9%), AAPL (6.0%), GOOGL (13.1%), AMZN (10.9%)
Rev Chg 3Y Avg2.2%NVDA (92.0%), MSFT (12.5%), GOOGL (10.2%), AMZN (11.3%), META (13.0%)
Op Mgn LTM25.7%NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), META (42.9%)
Total Yield5.9%BRK-B (5.9%), JPM (6.5%), XOM (9.7%), JNJ (8.1%), BAC (7.1%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1null  
2BUD Dip Buy Analysis  
3Anheuser-Busch InBev SA/NV (BUD) Valuation Ratios ComparisonFinancials 
4Anheuser-Busch InBev SA/NV Total Shareholder Return (TSR): -21.4% in 2024 and -5.0% 3-yr compounded annual returns (below peer average)  
5Anheuser-Busch InBev SA/NV (BUD) Operating Cash Flow ComparisonFinancials 
6Anheuser-Busch InBev SA/NV (BUD) Net Income ComparisonFinancials 
7Anheuser-Busch InBev SA/NV (BUD) Operating Income ComparisonFinancials 
8Anheuser-Busch InBev SA/NV (BUD) Revenue ComparisonFinancials 
9Fundamental Metrics: ...  
10Anheuser-Busch InBev (BUD) Stock Has 49% Chance Of Rise In The Next One MonthChance of Rise 
11ARTICLES  
12BUD Down 5.5% In A Day. History Shows It Can Get Worse. July 29th, 2025
13BUD Stock: Is $60 The Right Price? February 27th, 2025
14DEO Stock vs. BUD Stock January 22nd, 2025
15Why Did BUD Stock Fall 8%? November 5th, 2024
16Why Is Anheuser-Busch InBev Stock Down 10%? September 26th, 2024

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Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1ECDAECD Automotive Design3347.2%307.9%
2BDSXBiodesix1090.6%-79.7%
3CLSDClearside Biomedical987.7%-74.7%
4ATHAAthira Pharma892.1%544.3%
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6ATCHAtlasClear684.9%-83.1%
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1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
4BNGOBionano Genomics-64.0%-89.8%
5XAGELongevity Health-57.6%-86.1%
6FAASDigiAsia-55.4%-88.0%
7ASSTStrive-54.5%650.3%
8VCIGVCI Global-51.0%-98.9%
9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Anheuser-Busch InBev SA/NV

Financials

BUDCOKETAPFIZZSAMMedian
NameAnheuser.Coca-Col.Molson C.National.Boston B. 
Mkt Price58.82118.5346.8638.39225.4158.82
Mkt Cap117.310.39.43.62.59.4
Rev LTM58,8486,94811,2831,2012,0506,948
Op Inc LTM15,0959081,692235183908
FCF LTM-476961170222349
FCF 3Y Avg-4801,144159172326
CFO LTM-8451,643207286566
CFO 3Y Avg-8011,817189240521

Growth & Margins

BUDCOKETAPFIZZSAMMedian
NameAnheuser.Coca-Col.Molson C.National.Boston B. 
Rev Chg LTM-1.5%3.2%-5.5%0.8%2.5%0.8%
Rev Chg 3Y Avg2.2%5.9%2.3%1.8%1.6%2.2%
Rev Chg Q-6.3%3.3%-1.6%5.5%1.5%1.5%
QoQ Delta Rev Chg LTM-1.5%0.9%-0.5%1.4%0.4%0.4%
Op Mgn LTM25.7%13.1%15.0%19.6%8.9%15.0%
Op Mgn 3Y Avg25.3%12.8%14.1%18.0%7.3%14.1%
QoQ Delta Op Mgn LTM0.3%0.1%-0.0%0.1%0.6%0.1%
CFO/Rev LTM-12.2%14.6%17.2%14.0%14.3%
CFO/Rev 3Y Avg-11.9%15.8%15.9%11.8%13.9%
FCF/Rev LTM-6.9%8.5%14.2%10.8%9.7%
FCF/Rev 3Y Avg-7.1%10.0%13.4%8.5%9.2%

Valuation

BUDCOKETAPFIZZSAMMedian
NameAnheuser.Coca-Col.Molson C.National.Boston B. 
Mkt Cap117.310.39.43.62.59.4
P/S2.01.50.83.01.21.5
P/EBIT7.512.95.715.313.712.9
P/E17.017.69.119.231.417.6
P/CFO-12.25.717.48.710.5
Total Yield5.9%6.4%15.0%13.7%3.2%6.4%
Dividend Yield0.0%0.7%4.0%8.5%0.0%0.7%
FCF Yield 3Y Avg-5.8%10.2%3.6%6.2%6.0%
D/E0.00.20.70.00.00.0
Net D/E0.00.00.6-0.0-0.10.0

Returns

BUDCOKETAPFIZZSAMMedian
NameAnheuser.Coca-Col.Molson C.National.Boston B. 
1M Rtn-4.4%2.5%-7.5%-13.6%4.4%-4.4%
3M Rtn-17.1%11.9%-3.1%-12.8%11.8%-3.1%
6M Rtn-5.3%-10.3%-18.1%-4.1%2.9%-5.3%
12M Rtn-7.0%-5.3%-13.6%-15.9%-18.4%-13.6%
3Y Rtn24.3%184.7%1.8%-2.5%-31.1%1.8%
1M Excs Rtn-6.8%0.1%-9.8%-15.9%2.0%-6.8%
3M Excs Rtn-26.9%2.0%-14.4%-22.5%-0.6%-14.4%
6M Excs Rtn-23.5%-27.1%-36.6%-23.3%-15.9%-23.5%
12M Excs Rtn-25.2%-25.2%-29.1%-31.0%-33.6%-29.1%
3Y Excs Rtn-41.5%103.9%-64.2%-70.9%-95.5%-64.2%

Financials

$ Mil | FY: 12/312025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q32022Q2
Period End3/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/20226/30/2022
Filing Date5/8/20253/12/202510/31/20248/1/20245/8/20243/4/202410/31/20238/3/20235/4/20233/4/202410/27/20227/29/2022
Key Financials Quarterly            
Total Revenue13,62814,84115,04615,33314,54714,47315,57415,12014,21314,66815,09114,793
Ebitda4,0263,9324,1523,4633,2053,6123,6372,2493,6574,3283,5743,738
Operating Income3,5873,5124,0913,9053,6423,4914,0283,5693,5043,6084,0553,811
Net Income2,1481,2202,0711,4721,0911,8911,4723391,6392,8441,4331,597
EPS1.080.611.030.730.540.940.730.170.811.410.710.79
Key Financials TTM            
Total Revenue TTM58,84859,76759,39959,92759,71459,38059,57559,09258,76557,78757,31756,500
Ebitda TTM15,57314,75214,43213,91712,70313,15513,87113,80815,29713,67713,21612,075
Operating Income TTM15,09515,15015,12915,06614,73014,59214,70914,73614,97814,76814,57714,542
Net Income TTM6,9115,8546,5255,9264,7935,3416,2946,2557,5135,9695,0873,904
Growth Rates Quarterly            
Total Revenue Growth-6.3%2.5%-3.4%1.4%2.3%-1.3%3.2%2.2%7.4%3.3%5.7%9.3%
EBITDA Growth25.6%8.9%14.2%54.0%-12.4%-16.5%1.8%-39.8%79.5%11.9%46.9%-6.7%
Operating Income Growth-1.5%0.6%1.6%9.4%3.9%-3.2%-0.7%-6.4%6.4%5.6%0.9%4.2%
Net Income Growth96.9%-35.5%40.7%334.2%-33.4%-33.5%2.7%-78.8%1625.3%45.0%473.2%-14.3%
Margins Quarterly            
EBITDA Margin29.5%26.5%27.6%22.6%22.0%25.0%23.4%14.9%25.7%29.5%23.7%25.3%
Operating Income Margin26.3%23.7%27.2%25.5%25.0%24.1%25.9%23.6%24.7%24.6%26.9%25.8%
Net Income Margin15.8%8.2%13.8%9.6%7.5%13.1%9.5%2.2%11.5%19.4%9.5%10.8%
Cash & Debt            
Total Cash-11,395-7,548-10,399---9,997-7,361
Total Debt072,170078,200078,16800079,991083,432
Net Debt / (Cash)-60,775-70,652-67,769---69,994-76,071
Cash Flows Quarterly            
FCF from Operations------------
Cash Flows TTM            
FCF from Operations TTM------------
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC-10.6%-10.8%-11.5%---14.3%-9.9%
Return on Invested Capital (ROIC) TTM            
ROIC TTM-12.0%-11.0%-10.6%---11.7%-9.0%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Middle Americas16,34814,18012,541  
North America15,07216,56616,257  
South America12,04011,5999,494  
EMEA8,5898,1208,032  
Asia Pacific6,8246,5326,848  
Global Export and Holding companies5087901,133  
Beer and Beyond Beer   43,04447,984
Non-Beer   3,8374,345
Total59,38157,78754,30546,88152,329


Operating Income by Segment
$ Mil20242023202220212020
Middle Americas6,2015,2194,888  
North America3,6075,2205,110  
South America2,8382,6202,305  
EMEA1,4611,4781,472  
Asia Pacific1,4511,4311,569  
Global Export and Holding companies-1,592-1,451-1,520  
Total13,96614,51713,824  


Assets by Segment
$ Mil20242023202220212020
Middle Americas74,16066,26267,516  
North America62,93163,37963,722  
EMEA29,30230,91834,098  
South America14,79114,29712,917  
Asia Pacific11,98012,39713,453  
Cash and cash equivalents10,332    
Trade and other receivables6,024    
Inventories5,583    
Global Export and Holding companies2,8082,5051,973  
Income tax receivables822    
Derivatives505    
Investment securities67    
Assets classified as held for sale34    
Total219,339189,758193,679  


Price Behavior

BUD Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta0.441.060.700.280.290.49
Up Beta1.431.090.820.350.270.52
Down Beta0.99-0.160.380.040.190.37
Up Capture50%69%21%34%27%20%
Bmk +ve Days10223571142415
Stock +ve Days13243673134387
Down Capture-102%252%156%43%51%79%
Bmk -ve Days11192754106334
Stock -ve Days8172551111359

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity7,551,117
Short Interest: % Change Since 815202510.0%
Average Daily Volume1,833,931
Days-to-Cover Short Interest4.12
Basic Shares Quantity1,994,000,000
Short % of Basic Shares0.4%

SEC Filings

Expand for More

Report DateFiling DateFiling
630202573120256-K 6/30/2025
331202550820256-K 3/31/2025
12312024312202520-F 12/31/2024
9302024103120246-K 9/30/2024
630202480120246-K 6/30/2024
331202450820246-K 3/31/2024
12312023311202420-F 12/31/2023
9302023103120236-K 9/30/2023
630202380320236-K 6/30/2023
331202350420236-K 3/31/2023
12312022317202320-F 12/31/2022
9302022102720226-K 9/30/2022
630202272920226-K 6/30/2022
331202250520226-K 3/31/2022
12312021318202220-F 12/31/2021
9302021102820216-K 9/30/2021

Insider Activity

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External Quote Links


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