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Anheuser-Busch InBev SA/NV

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Anheuser-Busch InBev SA/NV • NYSE
$61.53 ▼ -0.52% (-0.32)
Market Cap $120.53 B
52w High $72.13
52w Low $45.94
Dividend Yield 1.17%
P/E 20.44
Volume 1.30M
Outstanding Shares 1.96B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $30.008B ▲ $1.88B ▲ $3.352B ▲ 11.17% $1.68 ▲ $9.725B ▲
Q2-2025 $15.004B ▲ $940M ▼ $1.676B ▼ 11.17% ▼ $0.84 ▼ $4.862B ▲
Q1-2025 $13.628B ▼ $4.17B ▼ $2.148B ▼ 15.762% ▲ $1.08 ▼ $4.573B ▼
Q4-2024 $29.887B ▲ $8.623B ▲ $3.291B ▲ 11.011% ▼ $1.64 ▲ $8.084B ▲
Q3-2024 $15.046B $4.275B $2.071B 13.764% $1.03 $5.026B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $7.372B ▲ $0 ▼ $-91.414B ▼ $91.414B ▲
Q2-2025 $7.267B ▼ $211.107B ▲ $119.693B ▲ $80.671B ▼
Q1-2025 $11.395B $0 ▼ $-88.7B ▼ $88.7B ▲
Q4-2024 $11.395B ▲ $206.637B ▲ $117.937B ▲ $78.237B ▼
Q3-2024 $7.644B $0 $-89.242B $89.242B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $3.855B $2.726B $-1.633B $-5.567B $-4.007B $1.31B
Q2-2025 $3.855B ▲ $2.726B ▲ $-1.633B ▼ $-5.567B ▼ $-4.007B ▼ $1.31B ▲
Q1-2025 $2.148B ▼ $0 ▼ $0 ▲ $0 ▲ $0 ▼ $0 ▼
Q4-2024 $5.855B ▲ $12.476B ▲ $-1.545B ▼ $-6.513B ▼ $3.782B ▲ $10.351B ▲
Q3-2024 $2.071B $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past several years, recovering well from the pandemic dip and then moving up at a more modest pace. Profitability at the operating level has improved meaningfully, suggesting the company has been able to manage costs and use its scale effectively. Earnings at the bottom line are healthy but a bit more uneven, likely reflecting swings in interest costs, taxes, and currency effects rather than core business weakness. Overall, the income statement shows a mature but still growing business with solid margins and some volatility in net profit that bears watching.

Balance Sheet

Balance Sheet The balance sheet shows a slow but clear strengthening trend. Debt has been coming down over time, which reduces financial risk, while shareholders’ equity has been building, indicating retained value in the business. Cash on hand is comfortable rather than excessive, which fits a company focused on paying down debt and investing in its operations. Even with the progress, the company still carries a sizable debt load, so continued discipline around leverage remains important.

Cash Flow

Cash Flow Cash generation from the core business is strong and consistent, which is a key support for everything else the company wants to do. After funding routine investment in breweries, technology, and equipment, there is still meaningful free cash left over. That surplus gives management flexibility to reduce debt, support the dividend, and selectively pursue acquisitions or new growth projects. The main risk would be any downturn in volumes or pricing that weakens this cash engine, but recent trends look resilient.

Competitive Edge

Competitive Edge Anheuser-Busch InBev holds a dominant global position, supported by a portfolio of some of the world’s most recognizable beer brands and a deep presence in many local markets. Its massive scale gives it cost advantages and strong bargaining power with suppliers and distributors, which smaller rivals struggle to match. A long-established distribution network helps keep its products highly visible and widely available, creating a real barrier to entry. At the same time, the company faces pressure from shifting consumer tastes toward craft, spirits, and healthier options, along with regulatory scrutiny in many countries, so defending this strong position requires constant adaptation.

Innovation and R&D

Innovation and R&D Innovation at AB InBev is less about traditional lab research and more about digitalization, process improvement, and new product development. The BEES platform and direct-to-consumer apps deepen relationships with retailers and consumers, while AI-driven “smart breweries” aim to lift efficiency, quality, and sustainability. The company is pushing into sustainable packaging and circular-economy initiatives like upcycling brewing byproducts, which can strengthen its brand and meet rising environmental expectations. On the product side, a growing focus on non-alcoholic beer, ready-to-drink cocktails, and premium offerings shows it is actively repositioning for changing tastes, though success will depend on execution and differentiation in very crowded categories.

Summary

Taken together, the numbers and strategy paint a picture of a global beverage giant that has largely completed a post-acquisition cleanup phase and is now gradually strengthening its financial footing. Revenues and operating profits are trending upward, cash flows are robust, and debt is being worked down, all of which add resilience. Strategically, the company is leaning on its powerful brands and distribution while trying to reinvent parts of the business through digital tools, sustainability, and expansion beyond traditional beer. Key factors to monitor going forward include the pace of debt reduction, stability of earnings given currency and interest rate exposure, and how well new products and digital initiatives offset evolving consumer preferences and regulatory challenges.