Anheuser-Busch InBev is the largest brewer in the world and one of the top five consumer product companies by EBITDA. The company's portfolio contains six of the top 10 beer brands by volume, and we estimate it distributes 23 brands with retail sales over $1 billion.
It is a $152B consumer staples company. Revenue shrank 0.7% over the last year, it keeps 12¢ of every dollar of sales as profit, and its net debt equals ~4.7 years of free cash flow. It trades at 16.3× earnings.
- Website
- ab-inbev.com
- Employees
- 137 000
- Sector
- Consumer Defensive
- Founded
- 1999
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong quality; Growth and Health lag behind.
Valuation69
- P/E vs own history43th pct · 12/25
- FCF yield9.0% · 25/25
- P/S2.4x · 20/25
- EV/EBITDA15.4x · 12/25
Growth43
- Revenue CAGR2.2% · 6/25
- Net income CAGR10.0% · 12/25
- EPS CAGR ~5Y10.4% · 20/25
- Fwd implied growth2.2% · 5/25
Profitability55
- ROIC4.1% · 5/25
- ROE6.3% · 5/25
- Net margin11.5% · 20/25
- Operating margin26.5% · 25/25
Health32
- Altman Z1.58 · 10/25
- Current ratio0.66 · 0/25
- Interest coverage4.5x · 10/25
- Net cash / debtD/A 30% · 12/25
Quality97
- Piotroski F7/9 · 22/25
- Beneish M-2.80 · 25/25
- FCF conversion201% · 25/25
- Margin stabilityσ 0.8% · 25/25
Moat68
- ROIC >12% years0/5 yrs · 0/25
- Median gross margin55.3% · 25/25
- FCF-positive years5/5 yrs · 25/25
- Worst-year net marginworst 8.6% · 18/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$6.84B net income
- FY2021FinancialProfitable every year on record5 consecutive profitable years in our data
- FY2021FinancialRevenue already above $50B$54.3B in first reported year
- FY2021FinancialPositive free cash flow every year since5-year streak
- 2015MilestoneAnheuser-Busch InBev made a bid of £70 billion, (US$107 billion when the deal closed), or £44…
- 2013AcquisitionThe company bought Grupo Modelo, Mexico's leading brewer and owner of the Corona brand
- 2012AcquisitionAB InBev bought a 51% stake of Cervecería Nacional Dominicana, a beer producer in the Dominican Republic…
- 2008AcquisitionInBev acquired Anheuser-Busch, creating Anheuser-Busch InBev (AB InBev), expanding on InBev's previous…
- 2002AcquisitionInterbrew also acquired stakes in the K.K
- 2000AcquisitionInterbrew acquired Bass and Whitbread in the UK
- 1999FoundedAmBev (short for America Beverages, formally Companhia de Bebidas das Américas, Portuguese for "Beverages Company of…
- 1995AcquisitionThe first transaction in this phase took place in Hungary, followed in 1995 by the acquisition of Labatt Brewing…
- 1987AcquisitionInterbrew was formed in 1987 from a merger of the two largest breweries in Belgium: Artois and Piedboeuf
- 1873AcquisitionThey then acquired a number of German breweries: Diebels and Beck's & Co
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (56.5%)
- Strong cash conversion — FCF is 23.2% of revenue
- Piotroski F-Score 7/9 — fundamentally strong checklist
Watch-outs
- Revenue shrinking 0.7% year over year
- Altman Z-Score 1.58 — elevated financial-distress risk
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago-0.7% YoY
- Profitable — makes more than it spends$6.84B FY2025
- Profit growing — earnings are higher than last year+5.2% YoY
- Generates cash — cash left after running and investing$13.8B FY2025
- Debt under control — could handle its obligations~4.7y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$152B market cap
- Not printing shares — share count not ballooning — you keep your slice-1.5% shares over ~5y
- Proven track record — years of profitability behind it5/5 profitable years
- Financially stable — balance sheet not near distressAltman Z 1.6 — distress
- Pays a dividend — returns cash to shareholdersyield 2.62%
- Valuation not extreme — price not wildly above earningsP/E 16.3
Peer comparisonAnheuser-Busch INBEV SA/NV vs 6 largest consumer defensive peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| BUD this company | $152.3B | 16.3 | -0.7% | 11.5% | Strained |
| WMT Walmart Inc. | $882.9B | 40.8 | +6.2% | 3.0% | Strained |
| COST Costco Wholesale Corp | $419.2B | 45.5 | +10.1% | 3.0% | Mixed |
| KO Coca-Cola Company | $379.3B | 26.5 | +6.5% | 28.6% | Mixed |
| PG Procter & Gamble Company | $351.2B | 21.9 | +3.3% | 18.4% | Solid |
| PM Philip Morris International Inc. | $313.6B | 28.8 | +8.9% | 25.6% | Strained |
| PEP PepsiCo, Inc. | $171.8B | 16.5 | +6.4% | 11.1% | Strained |
Head-to-head: BUD vs WMT · BUD vs COST · BUD vs KO
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/BUD
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Deeper analysis of BUD on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $77.33 · market cap $152B.