BUD vs JBS
Anheuser-Busch InBev SA/NV and JBS N.v., side by side — 3 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | BUD | JBS |
|---|---|---|
| Revenue | $59.3B | $86.2B |
| Net income | $6.8B | $2.0B |
| Gross margin | 55.9% | 13.1% |
| Net margin | 14.3% | 2.6% |
| Return on equity | 8.3% | 25.6% |
| Diluted EPS | $3.39 | $1.89 |
| Dividend / share | · | · |
| Payout ratio | 66.4% | 77.7% |
| Free cash flow | $11.2B | $832.7M |
| Equity | $87.3B | $8.7B |
| Net debt / equity | 0.70× | −0.50× |
| Current ratio | 0.72× | 1.60× |
| Revenue CAGR 5y | 4.8% | · |
| Profit CAGR 5y | 37.2% | · |
JBS bills 1.5× the revenue of BUD, and BUD keeps more of each dollar of revenue as profit (14.3% against 2.6%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
3 years side by side
| Fiscal year | BUD | JBS |
|---|---|---|
| FY2025 | $59.3B | $86.2B |
| FY2024 | $59.8B | $77.2B |
| FY2023 | $59.4B | $72.9B |
Bottom line
| Fiscal year | BUD | JBS |
|---|---|---|
| FY2025 | $6.8B | $2.0B |
| FY2024 | $5.9B | $1.8B |
| FY2023 | $5.3B | $-198.9M |
Standard deviation, each side
JBS's net margin has been more volatile than BUD's over the 3 comparable fiscal years — 1.3 percentage points of standard deviation against 1.1.
3 of 11 comparable fiscal years — a year missing data on either side is not counted.
Year by year
BUD led in net margin in every one of the 3 comparable fiscal years — a structural lead, not a recent swing.
3 of 11 comparable fiscal years — a year missing data on either side is not counted.