A 
Anheuser-Busch Inbev ABI.BR · EUR
Consumer Staples · Beverages · Euronext Brussels · 🇧🇪 Belgium
Euro Stoxx 50
75.52
-0.24%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in USD, from our data supplier.
Revenue
$51.40bn
FY2016FY2025
Net income
$5.92bn
FY2016FY2025
Free cash flow
$10.12bn
FY2016FY2025
Shareholders' equity
$75.64bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $51.40bn | $51.79bn | $51.45bn | $50.07bn | $47.05bn | $40.62bn | $45.34bn | $45.96bn | $47.53bn | $39.44bn |
| Gross profit | $28.75bn | $28.61bn | $27.71bn | $27.28bn | $27.04bn | $23.61bn | $27.70bn | $28.69bn | $29.36bn | $24.01bn |
| Research and development | — | — | $221.8m | $232.2m | $258.2m | $256.5m | $252.1m | $239.1m | $239.1m | $211.4m |
| Operating income | $13.56bn | $13.42bn | $11.83bn | $12.05bn | $11.04bn | $8.34bn | $13.95bn | $12.25bn | $14.26bn | $7.95bn |
| Net income | $5.92bn | $5.07bn | $4.63bn | $5.17bn | $4.05bn | $1.22bn | $7.95bn | $3.79bn | $6.92bn | $1.08bn |
| Diluted earnings per share | 3.00 | 2.48 | 2.30 | 2.54 | 2.02 | 0.61 | 4.06 | 1.91 | 3.51 | 0.55 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $189.61bn | $179.05bn | $190.05bn | $184.51bn | $188.57bn | $196.18bn | $205.05bn | $201.11bn | $215.07bn | $223.88bn |
| Cash and short-term investments | $10.35bn | $9.87bn | $9.01bn | $8.66bn | $10.74bn | $13.56bn | $6.35bn | $6.20bn | $10.20bn | $12.34bn |
| Total liabilities | $104.92bn | $102.19bn | $109.75bn | $111.49bn | $119.82bn | $128.29bn | $131.79bn | $138.81bn | $145.58bn | $153.33bn |
| Debt | $73.03bn | $72.17bn | $78.17bn | $79.99bn | $88.83bn | $98.56bn | $103.04bn | $111.69bn | $116.50bn | $122.74bn |
| Shareholders' equity | $75.64bn | $67.79bn | $70.92bn | $63.60bn | $59.50bn | $58.94bn | $65.61bn | $55.88bn | $62.89bn | $61.81bn |
| Shares outstanding | 1,978m | 2,043m | 2,016m | 2,037m | 2,006m | 1,984m | 1,959m | 1,979m | 1,974m | 1,970m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $13.42bn | $13.04bn | $11.49bn | $11.52bn | $12.82bn | $12.16bn | $11.61bn | $13.05bn | $13.37bn | $8.76bn |
| Capital spending | −$3.30bn | −$3.35bn | −$4.02bn | −$4.47bn | −$4.89bn | −$4.21bn | −$4.48bn | −$4.34bn | −$4.11bn | −$4.31bn |
| Free cash flow | $10.12bn | $9.70bn | $7.48bn | $7.05bn | $7.94bn | $7.96bn | $7.12bn | $8.72bn | $9.26bn | $4.45bn |
| Dividends paid | −$4.10bn | −$2.32bn | −$2.61bn | −$2.12bn | −$2.05bn | −$4.35bn | −$4.35bn | −$6.72bn | −$8.04bn | −$7.32bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $27.11bn | $13.23bn | $13.48bn | $13.11bn | $13.00bn | $11.81bn | $12.86bn | $13.04bn |
| Gross profit | $15.47bn | $7.49bn | $7.46bn | $7.40bn | $7.32bn | $6.57bn | $7.10bn | $7.25bn |
| Operating income | $7.65bn | $3.53bn | $3.51bn | $3.64bn | $3.48bn | $2.96bn | $3.34bn | $3.54bn |
| Net income | $5.36bn | $2.22bn | $1.70bn | $913.3m | $1.45bn | $1.86bn | $1.06bn | $1.79bn |
| Diluted earnings per share | 2.71 | 1.12 | 0.86 | 0.46 | 0.73 | 0.94 | 0.52 | 0.88 |
| Cash from operations | $4.45bn | — | $10.47bn | $2.95bn | — | — | — | — |
| Capital spending | −$1.19bn | — | −$1.88bn | −$1.41bn | — | — | — | — |
| Free cash flow | $3.26bn | — | $8.59bn | $1.54bn | — | — | — | — |
| Total assets | $189.19bn | — | $189.61bn | — | $182.92bn | — | $179.05bn | — |
| Cash and short-term investments | $6.94bn | $10.35bn | $10.35bn | $6.39bn | $6.30bn | $9.87bn | $9.87bn | $6.62bn |
| Debt | $61.27bn | — | $63.28bn | — | $63.98bn | — | $61.02bn | — |
| Shareholders' equity | $81.00bn | $84.69bn | $75.64bn | $79.21bn | $69.90bn | $76.86bn | $67.79bn | $77.33bn |
Financial ratios
Data as of 6 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 55.9% | 55.3% | 53.9% | 54.5% | 57.5% | 58.1% | — | — |
| Operating margin | 26.4% | 25.9% | 23.0% | 24.1% | 23.5% | 20.5% | — | — |
| Net margin | 11.5% | 9.8% | 9.0% | 10.3% | 8.6% | 3.0% | — | — |
| Return on equity | 7.8% | 7.5% | 6.5% | 8.1% | 6.8% | 2.1% | — | — |
| Return on assets | 3.1% | 2.8% | 2.4% | 2.8% | 2.1% | 0.6% | — | — |
| Free cash flow yield | 14.1% | 13.4% | 12.9% | 13.1% | 14.8% | 13.8% | — | — |
| Revenue growth | -0.7% | 0.7% | 2.8% | 6.4% | 15.8% | -10.4% | — | — |
| Earnings growth | 16.8% | 9.6% | -10.5% | 27.8% | 232.4% | -84.7% | — | — |
| Current ratio | 0.72x | 0.70x | 0.63x | 0.67x | 0.70x | 0.82x | — | — |
| Debt to equity | 0.84x | 0.90x | 0.96x | 1.06x | 1.27x | 1.42x | — | — |
| Equity ratio | 39.9% | 37.9% | 37.3% | 34.5% | 31.6% | 30.0% | — | — |
| Interest coverage | 3.90x | 3.70x | 3.01x | 3.17x | 2.98x | 2.07x | — | — |
| R&D as a share of sales | — | — | 0.4% | 0.5% | 0.5% | 0.6% | 0.6% | 0.5% |
| Buybacks as a share of market value | 3.2% | -1.3% | 1.0% | -1.5% | -1.1% | -1.3% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.9% | 4.8% | 3.3% |
| Operating income | 4.0% | 10.2% | 1.2% |
| Net income | 4.6% | 37.2% | -1.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 55.6% | 54.9% | 55.7% | 58.2% |
| Operating margin | 26.1% | 24.8% | 24.0% | 25.7% |
| Net margin | 10.7% | 10.2% | 8.9% | 10.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 21.5 | 20.1 | 28.1 | 23.6 | 29.8 | 114.3 | 20.1 | 34.5 | 31.7 | 194.8 |
| Price to sales | 2.5 | 2.0 | 2.5 | 2.4 | 2.6 | 3.4 | 3.5 | 2.8 | 4.6 | 5.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 25 years. Last went ex-dividend on 7 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.00 | 1.15 | 0.82 | 0.75 | 0.50 | 0.50 | 0.50 | 0.80 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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