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Anheuser-Busch Inbev Sa
(NYSE:BUD)
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Rating:66Neutral
Price Target:
$87.00
▲(10.48% Upside)
Action:Reiterated
Date:09/06/26
The score is driven primarily by solid financial performance (strong margins and durable cash flow) but tempered by meaningful risk flags—especially the reported 2025 revenue drop and a large remaining debt load, alongside geographic concentration in the Americas per KPI insights. Valuation is supportive with a moderate P/E and modest yield, while technical signals are mixed with negative MACD and elevated Stoch limiting near-term momentum.
Positive Factors
Strong cash generation
Consistently high operating cash flow and robust free cash flow give AB InBev internal funding for marketing, innovation, debt reduction, and brewery investment. This cash-generation capacity supports resilience and preserves strategic flexibility across the next several quarters.
Negative Factors
Sharp reported revenue decline
The reported 2025 revenue contraction is a material challenge to the company’s top-line durability, even though profitability remained strong. If revenue weakness persists, it could reduce operating leverage, limit reinvestment capacity, and undermine confidence in the growth trajectory.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistently high operating cash flow and robust free cash flow give AB InBev internal funding for marketing, innovation, debt reduction, and brewery investment. This cash-generation capacity supports resilience and preserves strategic flexibility across the next several quarters.
Read all positive factors
Anheuser-Busch Inbev Sa Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyAnheuser-Busch Inbev Sa (BUD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$144.56B
Dividend Yield1.84%
Average Volume (3M)2.35M
Price to Earnings (P/E)12.3
Beta (1Y)0.31
Revenue Growth6.60%
EPS Growth31.61%
CountryUS
Employees136,805
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Alcoholic
Share Statistics
EPS (TTM)4.71
Shares Outstanding1,797,206,500
10 Day Avg. Volume2,189,474
30 Day Avg. Volume2,346,702
Financial Highlights & Ratios
PEG Ratio1.00
Price to Book (P/B)1.46
Price to Sales (P/S)2.14
P/FCF Ratio11.28
Enterprise Value/Market Cap1.64
Enterprise Value/Revenue3.80
Enterprise Value/Gross Profit6.72
Enterprise Value/Ebitda9.64
Forecast
1Y Price Target
$99.27Price Target Upside26.06% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)4.46
Revenue Forecast (FY)$64.92B
Anheuser-Busch Inbev Sa Business Overview & Revenue Model
Company Description
Anheuser-Busch InBev SA/NV (AB InBev) is a global beverage giant involved in the manufacturing, marketing, and retailing of a wide variety of beers, other alcoholic drinks, and soft drinks across the world. The company manages an expansive collect...
How the Company Makes Money
Anheuser-Busch InBev makes money primarily by selling beer and other alcoholic beverages to customers such as wholesalers, retailers, and on-premise venues (e.g., bars and restaurants), with revenue recognized from the sale of finished products. I...
Anheuser-Busch Inbev Sa Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call emphasized disciplined execution and multiple positive financial and strategic outcomes — EPS growth, EBITDA and margin expansion, strong momentum in Beyond Beer, non-alcohol and BEES Marketplace, significant buybacks and a higher dividend — while acknowledging ongoing volume headwinds, a notable revenue decline in China, and transactional FX/hedging pressures. Management highlighted improving momentum into late Q4 and early 2026 and reiterated mid-term outlook, but cautioned on near-term phasing and market-specific challenges.Positive Updates
Underlying EPS and Profit Growth
Underlying EPS of $3.73, up 6% in U.S. dollars and 9.4% in constant currency; underlying profit increased by $350 million. Dollar-based EPS has grown at a CAGR of 6.7% since 2021.
Negative Updates
Overall Volume Underperformance
Aggregate volumes for 2025 were below potential and below trend in many regions; management noted volumes underperformed through much of the year and only showed stronger momentum in December and early 2026.
Read all updates
Q4-2025 Updates
Positive
Negative
Underlying EPS and Profit Growth
Underlying EPS of $3.73, up 6% in U.S. dollars and 9.4% in constant currency; underlying profit increased by $350 million. Dollar-based EPS has grown at a CAGR of 6.7% since 2021.
Read all positive updates
Company Guidance
AB InBev guided 2026 to organic EBITDA growth of 4–8%, with net capital expenditures of $3.5–4.0 billion and a normalized effective tax rate of 26–28%, reiterating that this is in line with its medium‑term outlook; management also signalled continued margin upside after 2025’s 101 bps EBITDA margin expansion. On capital allocation, the company is executing a further $6.0 billion share buyback (after $3.2 billion completed), proposed a €1.00 final dividend (bringing total dividends to a 15% year‑over‑year increase including the interim), repurchased $2.7 billion of debt in 2025 and finished the year at 2.87x leverage despite a $2.8 billion FX headwind, with no bonds maturing in 2026 and a weighted average bond maturity of 13 years. Operational and digital targets underpin the guidance: 2025 saw revenue/hl +4.4%, revenue +2%, EBITDA +4.9%, underlying EPS $3.73 (+6% in USD, +9.4% constant currency) and underlying profit growth of $350 million; BEES GMV was $53 billion (+12%) with Marketplace GMV $3.5 billion (+61%), DTC served 12.3 million consumers (+11%), Beyond Beer revenue +23% and non‑alcohol beer revenue +34%, metrics management expects to leverage while investing behind brands and major activations (e.g., the World Cup).Anheuser-Busch Inbev Sa Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
63
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 62.53B | 59.32B | 59.77B | 59.38B | 57.79B | 54.30B |
| Gross Profit | 35.33B | 33.18B | 33.02B | 31.98B | 31.48B | 31.21B |
| EBITDA | 24.64B | 20.84B | 20.30B | 19.07B | 18.98B | 17.79B |
| Net Income | 9.32B | 6.84B | 5.86B | 5.34B | 5.97B | 4.67B |
Balance Sheet | ||||||
| Total Assets | 218.38B | 218.81B | 206.64B | 219.34B | 212.94B | 217.63B |
| Cash, Cash Equivalents and Short-Term Investments | 7.91B | 11.94B | 11.39B | 10.40B | 10.00B | 12.39B |
| Total Debt | 72.32B | 73.03B | 72.17B | 78.17B | 79.99B | 88.83B |
| Total Liabilities | 117.20B | 121.07B | 117.94B | 126.66B | 128.66B | 138.29B |
| Stockholders Equity | 93.50B | 87.29B | 78.24B | 81.85B | 73.40B | 68.67B |
Cash Flow | ||||||
| Free Cash Flow | 13.73B | 11.26B | 11.17B | 8.64B | 7.77B | 8.95B |
| Operating Cash Flow | 17.36B | 14.93B | 15.03B | 13.29B | 12.93B | 14.58B |
| Investing Cash Flow | -7.32B | -3.77B | -3.69B | -4.38B | -4.64B | -5.87B |
| Financing Cash Flow | -9.65B | -11.16B | -9.40B | -8.59B | -10.23B | -11.39B |
Anheuser-Busch Inbev Sa Technical Analysis
Negative
78.75
Price Trends
79.60
Negative
80.39
Negative
75.87
Negative
Market Momentum
-1.52
Positive
31.21
Neutral
8.30
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BUD, the sentiment is Negative. The current price of 78.75 is above the 20-day moving average (MA) of 77.48, below the 50-day MA of 79.60, and above the 200-day MA of 75.87, indicating a bearish trend. The MACD of -1.52 indicates Positive momentum. The RSI at 31.21 is Neutral, neither overbought nor oversold. The STOCH value of 8.30 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BUD.
Anheuser-Busch Inbev Sa Risk Analysis
Anheuser-Busch Inbev Sa disclosed 44 risk factors in its most recent earnings report. Anheuser-Busch Inbev Sa reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Anheuser-Busch Inbev Sa Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $46.94B | 15.23 | 18.13% | 4.04% | 4.24% | 19.95% | |
74 Outperform | $44.79B | 20.22 | 24.78% | 2.25% | 9.67% | 42.56% | |
68 Neutral | $19.28B | 10.76 | 23.13% | 3.63% | -9.99% | ― | |
66 Neutral | $144.56B | 12.28 | 12.72% | 1.84% | 6.60% | 31.61% | |
66 Neutral | $47.18B | 27.19 | 15.52% | 2.38% | -3.59% | -26.73% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
57 Neutral | $6.91B | -3.20 | -22.65% | 5.18% | -1.77% | -326.16% |
* Consumer Defensive Sector Average
BUD
Anheuser-Busch Inbev Sa
73.43
15.68
27.15%
STZ
Constellation Brands
112.87
-21.90
-16.25%
DEO
Diageo
84.75
-6.38
-7.01%
TAP
Molson Coors
36.86
-6.82
-15.61%
CCEP
Coca-Cola Europacific Partners
101.06
15.69
18.38%
ABEV
Ambev SA
2.99
0.92
44.31%
Anheuser-Busch Inbev Sa Corporate Events
AB InBev Files Amended H1 2026 Interim Report with U.S. SEC
Jul 30, 2026
Anheuser-Busch InBev has filed a Form 6-K with the U.S. Securities and Exchange Commission dated July 30, 2026, furnishing its unaudited interim report for the six‑month period ended June 30, 2026, prepared under IFRS and presented in U.S. d...
AB InBev Lifts Q2 2026 Earnings as Megabrands, No-Alcohol and Beyond Beer Power Growth
Jul 30, 2026
On July 30, 2026, AB InBev reported solid second-quarter and half-year 2026 results, highlighting broad-based growth in beer and continued momentum across its portfolio. Revenue rose 5.6% in the second quarter with beer volumes up 1.1%, while repo...
AB InBev Names Mondelēz Chief Dirk Van de Put as Board Chairman
Jun 16, 2026
On 16 June 2026, AB InBev’s board unanimously appointed independent director Dirk Van de Put as its new chairman, effective immediately, following the retirement of long-time chair Martin J. Barrington at the company’s annual sharehold...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.