ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) Fundamental Analysis & Valuation

EBR:ABI • BE0974293251

Current stock price

64.44 EUR
+0.78 (+1.23%)
Last:

This ABI.BR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. ABI.BR Profitability Analysis

1.1 Basic Checks

  • In the past year ABI was profitable.
  • In the past year ABI had a positive cash flow from operations.
  • In the past 5 years ABI has always been profitable.
  • Each year in the past 5 years ABI had a positive operating cash flow.
ABI.BR Yearly Net Income VS EBIT VS OCF VS FCFABI.BR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

1.2 Ratios

  • ABI has a Return On Assets (3.12%) which is in line with its industry peers.
  • ABI has a Return On Equity of 7.83%. This is comparable to the rest of the industry: ABI outperforms 40.74% of its industry peers.
  • The Return On Invested Capital of ABI (6.24%) is comparable to the rest of the industry.
  • ABI had an Average Return On Invested Capital over the past 3 years of 6.13%. This is in line with the industry average of 7.49%.
  • The last Return On Invested Capital (6.24%) for ABI is above the 3 year average (6.13%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 3.12%
ROE 7.83%
ROIC 6.24%
ROA(3y)2.8%
ROA(5y)2.67%
ROE(3y)7.28%
ROE(5y)7.36%
ROIC(3y)6.13%
ROIC(5y)5.97%
ABI.BR Yearly ROA, ROE, ROICABI.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

1.3 Margins

  • With a decent Profit Margin value of 11.53%, ABI is doing good in the industry, outperforming 74.07% of the companies in the same industry.
  • In the last couple of years the Profit Margin of ABI has grown nicely.
  • ABI's Operating Margin of 26.73% is amongst the best of the industry. ABI outperforms 88.89% of its industry peers.
  • In the last couple of years the Operating Margin of ABI has remained more or less at the same level.
  • ABI has a Gross Margin of 55.93%. This is in the better half of the industry: ABI outperforms 62.96% of its industry peers.
  • In the last couple of years the Gross Margin of ABI has remained more or less at the same level.
Industry RankSector Rank
OM 26.73%
PM (TTM) 11.53%
GM 55.93%
OM growth 3Y1.96%
OM growth 5Y0.34%
PM growth 3Y3.72%
PM growth 5Y30.92%
GM growth 3Y0.88%
GM growth 5Y-0.76%
ABI.BR Yearly Profit, Operating, Gross MarginsABI.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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3

2. ABI.BR Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so ABI is still creating some value.
  • Compared to 1 year ago, ABI has less shares outstanding
  • The number of shares outstanding for ABI has been reduced compared to 5 years ago.
  • Compared to 1 year ago, ABI has an improved debt to assets ratio.
ABI.BR Yearly Shares OutstandingABI.BR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
ABI.BR Yearly Total Debt VS Total AssetsABI.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B 200B 250B

2.2 Solvency

  • ABI has an Altman-Z score of 1.75. This is a bad value and indicates that ABI is not financially healthy and even has some risk of bankruptcy.
  • With a Altman-Z score value of 1.75, ABI is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
  • ABI has a debt to FCF ratio of 6.50. This is a slightly negative value and a sign of low solvency as ABI would need 6.50 years to pay back of all of its debts.
  • ABI has a better Debt to FCF ratio (6.50) than 70.37% of its industry peers.
  • A Debt/Equity ratio of 0.83 indicates that ABI is somewhat dependend on debt financing.
  • The Debt to Equity ratio of ABI (0.83) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 6.5
Altman-Z 1.75
ROIC/WACC1.01
WACC6.17%
ABI.BR Yearly LT Debt VS Equity VS FCFABI.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B

2.3 Liquidity

  • A Current Ratio of 0.72 indicates that ABI may have some problems paying its short term obligations.
  • The Current ratio of ABI (0.72) is worse than 92.59% of its industry peers.
  • A Quick Ratio of 0.57 indicates that ABI may have some problems paying its short term obligations.
  • ABI has a worse Quick ratio (0.57) than 74.07% of its industry peers.
Industry RankSector Rank
Current Ratio 0.72
Quick Ratio 0.57
ABI.BR Yearly Current Assets VS Current LiabilitesABI.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. ABI.BR Growth Analysis

3.1 Past

  • ABI shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 6.27%.
  • ABI shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 14.20% yearly.
  • Looking at the last year, ABI shows a decrease in Revenue. The Revenue has decreased by -0.75% in the last year.
  • The Revenue has been growing slightly by 4.82% on average over the past years.
EPS 1Y (TTM)6.27%
EPS 3Y5.8%
EPS 5Y14.2%
EPS Q2Q%7.95%
Revenue 1Y (TTM)-0.75%
Revenue growth 3Y0.88%
Revenue growth 5Y4.82%
Sales Q2Q%4.81%

3.2 Future

  • The Earnings Per Share is expected to grow by 13.29% on average over the next years. This is quite good.
  • Based on estimates for the next years, ABI will show a small growth in Revenue. The Revenue will grow by 4.90% on average per year.
EPS Next Y15.46%
EPS Next 2Y13.89%
EPS Next 3Y12.89%
EPS Next 5Y13.29%
Revenue Next Year7.12%
Revenue Next 2Y5.45%
Revenue Next 3Y4.86%
Revenue Next 5Y4.9%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
ABI.BR Yearly Revenue VS EstimatesABI.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 20B 40B 60B
ABI.BR Yearly EPS VS EstimatesABI.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6

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5

4. ABI.BR Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 20.20, ABI is valued on the expensive side.
  • ABI's Price/Earnings ratio is in line with the industry average.
  • Compared to an average S&P500 Price/Earnings ratio of 26.86, ABI is valued a bit cheaper.
  • A Price/Forward Earnings ratio of 17.52 indicates a rather expensive valuation of ABI.
  • ABI's Price/Forward Earnings ratio is in line with the industry average.
  • ABI's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 37.39.
Industry RankSector Rank
PE 20.2
Fwd PE 17.52
ABI.BR Price Earnings VS Forward Price EarningsABI.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ABI indicates a somewhat cheap valuation: ABI is cheaper than 70.37% of the companies listed in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ABI indicates a somewhat cheap valuation: ABI is cheaper than 74.07% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 12.08
EV/EBITDA 8.84
ABI.BR Per share dataABI.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40

4.3 Compensation for Growth

  • ABI's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • ABI has a very decent profitability rating, which may justify a higher PE ratio.
  • ABI's earnings are expected to grow with 12.89% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.31
PEG (5Y)1.42
EPS Next 2Y13.89%
EPS Next 3Y12.89%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. ABI.BR Dividend Analysis

5.1 Amount

  • ABI does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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ABI.BR Fundamentals: All Metrics, Ratios and Statistics

ANHEUSER-BUSCH INBEV SA/NV

EBR:ABI (4/9/2026, 12:34:48 PM)

64.44

+0.78 (+1.23%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)02-12
Earnings (Next)05-05
Inst Owners21.17%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap115.81B
Revenue(TTM)59.32B
Net Income(TTM)6.84B
Analysts80.61
Price Target75.88 (17.75%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly Dividend1.98
Dividend Growth(5Y)20.37%
DP66.45%
Div Incr Years3
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)4.18%
Min EPS beat(2)2.28%
Max EPS beat(2)6.07%
EPS beat(4)4
Avg EPS beat(4)4.38%
Min EPS beat(4)1.01%
Max EPS beat(4)8.16%
EPS beat(8)8
Avg EPS beat(8)7.33%
EPS beat(12)12
Avg EPS beat(12)5.97%
EPS beat(16)14
Avg EPS beat(16)6.5%
Revenue beat(2)0
Avg Revenue beat(2)-1.55%
Min Revenue beat(2)-1.88%
Max Revenue beat(2)-1.22%
Revenue beat(4)0
Avg Revenue beat(4)-2.12%
Min Revenue beat(4)-3.28%
Max Revenue beat(4)-1.22%
Revenue beat(8)2
Avg Revenue beat(8)-1.07%
Revenue beat(12)2
Avg Revenue beat(12)-1.73%
Revenue beat(16)4
Avg Revenue beat(16)-1.64%
PT rev (1m)1.53%
PT rev (3m)10.33%
EPS NQ rev (1m)-3.35%
EPS NQ rev (3m)3.3%
EPS NY rev (1m)-0.47%
EPS NY rev (3m)1.27%
Revenue NQ rev (1m)-1.68%
Revenue NQ rev (3m)0.12%
Revenue NY rev (1m)0.05%
Revenue NY rev (3m)1.21%
Valuation
Industry RankSector Rank
PE 20.2
Fwd PE 17.52
P/S 2.29
P/FCF 12.08
P/OCF 9.11
P/B 1.55
P/tB N/A
EV/EBITDA 8.84
EPS(TTM)3.19
EY4.95%
EPS(NY)3.68
Fwd EY5.71%
FCF(TTM)5.33
FCFY8.28%
OCF(TTM)7.07
OCFY10.97%
SpS28.19
BVpS41.47
TBVpS-34.5
PEG (NY)1.31
PEG (5Y)1.42
Graham Number54.56
Profitability
Industry RankSector Rank
ROA 3.12%
ROE 7.83%
ROCE 8.6%
ROIC 6.24%
ROICexc 6.67%
ROICexgc 91.9%
OM 26.73%
PM (TTM) 11.53%
GM 55.93%
FCFM 18.93%
ROA(3y)2.8%
ROA(5y)2.67%
ROE(3y)7.28%
ROE(5y)7.36%
ROIC(3y)6.13%
ROIC(5y)5.97%
ROICexc(3y)6.54%
ROICexc(5y)6.37%
ROICexgc(3y)88.01%
ROICexgc(5y)80.35%
ROCE(3y)8.45%
ROCE(5y)8.23%
ROICexgc growth 3Y9.81%
ROICexgc growth 5Y12.22%
ROICexc growth 3Y2.06%
ROICexc growth 5Y6.07%
OM growth 3Y1.96%
OM growth 5Y0.34%
PM growth 3Y3.72%
PM growth 5Y30.92%
GM growth 3Y0.88%
GM growth 5Y-0.76%
F-Score8
Asset Turnover0.27
Health
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 6.5
Debt/EBITDA 3.35
Cap/Depr 64.69%
Cap/Sales 6.16%
Interest Coverage 4.74
Cash Conversion 69.2%
Profit Quality 164.21%
Current Ratio 0.72
Quick Ratio 0.57
Altman-Z 1.75
F-Score8
WACC6.17%
ROIC/WACC1.01
Cap/Depr(3y)73.36%
Cap/Depr(5y)86.67%
Cap/Sales(3y)6.81%
Cap/Sales(5y)7.95%
Profit Quality(3y)172.3%
Profit Quality(5y)169.87%
High Growth Momentum
Growth
EPS 1Y (TTM)6.27%
EPS 3Y5.8%
EPS 5Y14.2%
EPS Q2Q%7.95%
EPS Next Y15.46%
EPS Next 2Y13.89%
EPS Next 3Y12.89%
EPS Next 5Y13.29%
Revenue 1Y (TTM)-0.75%
Revenue growth 3Y0.88%
Revenue growth 5Y4.82%
Sales Q2Q%4.81%
Revenue Next Year7.12%
Revenue Next 2Y5.45%
Revenue Next 3Y4.86%
Revenue Next 5Y4.9%
EBIT growth 1Y2.54%
EBIT growth 3Y2.85%
EBIT growth 5Y5.18%
EBIT Next Year44.73%
EBIT Next 3Y16.82%
EBIT Next 5Y12.12%
FCF growth 1Y0.31%
FCF growth 3Y11.32%
FCF growth 5Y9.57%
OCF growth 1Y-1.14%
OCF growth 3Y3.82%
OCF growth 5Y6.44%

ANHEUSER-BUSCH INBEV SA/NV / ABI.BR Fundamental Analysis FAQ

What is the ChartMill fundamental rating of ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) stock?

ChartMill assigns a fundamental rating of 4 / 10 to ABI.BR.


What is the valuation status of ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) stock?

ChartMill assigns a valuation rating of 5 / 10 to ANHEUSER-BUSCH INBEV SA/NV (ABI.BR). This can be considered as Fairly Valued.


What is the profitability of ABI stock?

ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) has a profitability rating of 7 / 10.


What is the expected EPS growth for ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) stock?

The Earnings per Share (EPS) of ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) is expected to grow by 15.46% in the next year.


Is the dividend of ANHEUSER-BUSCH INBEV SA/NV sustainable?

The dividend rating of ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) is 0 / 10 and the dividend payout ratio is 66.45%.