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NYSE · MALT BEVERAGES · LARGE CAP

Anheuser-Busch InBev SA/NV BUD

11 fiscal years on record · USD · FY2025 reported · SEC filings only
$59.3B
▼ 0.7% YoY
$6.8B
▲ 16.8% YoY
$11.2B
▲ 0.3% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Anheuser-Busch InBev SA/NV produces, markets, distributes and sells a portfolio of well over 400 beer and malt beverage brands. Its production and distribution facilities are located predominantly in the same geographic areas as its consumers. The company employs approximately 137,000 people across more than 40 countries worldwide. Its beer volumes totaled 484 million hectoliters for the year ended December 31, 2025. The company's operations are organized into six business segments. The segments include North America, defined as the United States and Canada; Middle Americas, spanning the Caribbean, Colombia, the Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama and Peru; and South America, covering Argentina, Bolivia, Brazil, Chile, Paraguay and Uruguay.

Written from the business description in Anheuser-Busch InBev SA/NV's annual report to the U.S. Securities and Exchange Commission, filed 3 March 2026. Every sentence was checked against that document before publication.

Growth

USD 59.3B
Revenue, FY2025 · full 11-year series below
Revenue $B Net income $B
FY2025 · Revenue 59.3 · Net income 6.8
25.0B50.0B
20152018202120242025
Compound annual growth
+0.9%
+4.8%
+3.3%
+4.6%
+37.2%
−1.9%
+5.2%
+37.5%
−3.7%
+41.0%
+30.6%
−2.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +4.8% a year over the five years to FY2025 — but profit grew faster: net income at +37.2%, earnings per share at +37.5%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

14 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 26.0% · Net 14.3%
10%20%30%
201520202025
ROE
FY2025 · ROE 8.3%
5%10%
201520202025
Three returns, three denominators.
Gross margin55.9%
Operating margin26.0%
Net margin14.3%
EBITDA·

Each USD of equity produced 8 cents of profit this year.

Cash & shareholders

USD 6.8B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 11.2
5B10B
201520202025
Net buybacks $B Dividends $B
FY2025 · Dividends 4.5 · Net buybacks 2.3
4B8BDividendsNet buybacks
201520172019202120232025
Dividends paidUSD 4.5B
Net buybacksUSD 2.3B
Share of profit100.1%
Consecutive raises·

USD 4.5B in dividends and USD 2.3B in buybacks — 100% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 218.8B
EquityUSD 87.3B
CashUSD 11.6B
Gross debtUSD 73.0B
Net debtUSD 61.4B
Current ratio0.72×

Net debt stands at 70% of equity.

The 11-year record

11 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
BUD, 11-year financial record
Metric 20252024202320222021202020192018201720162015
Revenue $B59.359.859.457.854.346.952.353.054.945.543.1
Operating income $B15.415.514.014.513.89.616.116.416.512.913.9
EBITDA $B◌◌◌◌◌◌◌◌◌◌◌
Income tax $B2.93.22.21.92.41.92.82.61.71.62.6
Net income $B6.85.95.36.04.71.49.24.48.01.28.3
Free cash flow $B11.211.28.68.19.27.18.910.110.25.19.4
EPS, diluted $3.392.862.602.912.280.694.532.173.980.714.96
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌
Payout %66465641511285517811668196
ROE %8.37.36.98.46.82.013.16.411.11.7◌
Shares out B2.022.022.022.022.022.022.022.022.022.02◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

Anheuser-Busch InBev SA/NVvsPepsiCo Inc.Same industry: Malt BeveragesAnheuser-Busch InBev SA/NVvsJBS N.v.Same industry: Malt BeveragesAnheuser-Busch InBev SA/NVvsArcher-Daniels-Midland Co.Same industry: Malt BeveragesAnheuser-Busch InBev SA/NVvsBunge Global SASame industry: Malt BeveragesAnheuser-Busch InBev SA/NVvsTyson Foods, Inc.Same industry: Malt BeveragesAnheuser-Busch InBev SA/NVvsCoca Cola Co.Same industry: Malt BeveragesAnheuser-Busch InBev SA/NVvsMondelez International, Inc.Same industry: Malt Beverages
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Provenance

Company facts, as filed

How we verify · 0 failures · 1 divergence in 42 reconciliationsAUDITED

Reconciled in 10 of the 11 fiscal years we could check. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 18 checks were skipped: the balance sheet is not tagged before 2016. Eight checks were skipped: EPS is not tagged before 2015. Eight checks were skipped: revenue is not tagged before 2015.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures1 divergent
ActivityMalt Beverages
Listed onNYSE
Incorporated inoutside the United States — SEC code C9
Fiscal year endsDecember 31
Data on record since2015

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