ANHEUSER-BUSCH INBEV-SPN ADR (BUD) Fundamental Analysis & Valuation

NYSE:BUD • US03524A1088

Current stock price

75.73 USD
+0.54 (+0.72%)
At close:
75.79 USD
+0.06 (+0.08%)
After Hours:

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

6

1. BUD Profitability Analysis

1.1 Basic Checks

  • In the past year BUD was profitable.
  • In the past year BUD had a positive cash flow from operations.
  • Each year in the past 5 years BUD has been profitable.
  • Each year in the past 5 years BUD had a positive operating cash flow.
BUD Yearly Net Income VS EBIT VS OCF VS FCFBUD 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

  • Looking at the Return On Assets, with a value of 3.12%, BUD is in line with its industry, outperforming 44.12% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 7.83%, BUD is in line with its industry, outperforming 47.06% of the companies in the same industry.
  • BUD has a Return On Invested Capital (6.24%) which is comparable to the rest of the industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for BUD is significantly below the industry average of 11.81%.
  • The 3 year average ROIC (6.13%) for BUD is below the current ROIC(6.24%), indicating increased profibility in the last year.
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%
BUD Yearly ROA, ROE, ROICBUD 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%, BUD is doing good in the industry, outperforming 67.65% of the companies in the same industry.
  • In the last couple of years the Profit Margin of BUD has grown nicely.
  • Looking at the Operating Margin, with a value of 26.73%, BUD belongs to the top of the industry, outperforming 85.29% of the companies in the same industry.
  • In the last couple of years the Operating Margin of BUD has remained more or less at the same level.
  • BUD has a better Gross Margin (55.93%) than 76.47% of its industry peers.
  • In the last couple of years the Gross Margin of BUD 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%
BUD Yearly Profit, Operating, Gross MarginsBUD 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. BUD Health Analysis

2.1 Basic Checks

  • BUD has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, BUD has less shares outstanding
  • Compared to 5 years ago, BUD has less shares outstanding
  • The debt/assets ratio for BUD has been reduced compared to a year ago.
BUD Yearly Shares OutstandingBUD Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
BUD Yearly Total Debt VS Total AssetsBUD 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

  • Based on the Altman-Z score of 1.80, we must say that BUD is in the distress zone and has some risk of bankruptcy.
  • With a Altman-Z score value of 1.80, BUD perfoms like the industry average, outperforming 47.06% of the companies in the same industry.
  • The Debt to FCF ratio of BUD is 6.50, which is on the high side as it means it would take BUD, 6.50 years of fcf income to pay off all of its debts.
  • With a Debt to FCF ratio value of 6.50, BUD perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
  • BUD has a Debt/Equity ratio of 0.83. This is a neutral value indicating BUD is somewhat dependend on debt financing.
  • The Debt to Equity ratio of BUD (0.83) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 6.5
Altman-Z 1.8
ROIC/WACC0.97
WACC6.42%
BUD Yearly LT Debt VS Equity VS FCFBUD 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 BUD may have some problems paying its short term obligations.
  • BUD has a Current ratio of 0.72. This is in the lower half of the industry: BUD underperforms 76.47% of its industry peers.
  • BUD has a Quick Ratio of 0.72. This is a bad value and indicates that BUD is not financially healthy enough and could expect problems in meeting its short term obligations.
  • BUD has a worse Quick ratio (0.57) than 64.71% of its industry peers.
Industry RankSector Rank
Current Ratio 0.72
Quick Ratio 0.57
BUD Yearly Current Assets VS Current LiabilitesBUD 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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4

3. BUD Growth Analysis

3.1 Past

  • BUD shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 6.27%.
  • BUD shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 14.20% yearly.
  • The Revenue has decreased by -0.75% in the past year.
  • Measured over the past years, BUD shows a small growth in Revenue. The Revenue has been growing by 4.82% on average per year.
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

  • BUD is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.29% yearly.
  • The Revenue is expected to grow by 4.90% on average over the next years.
EPS Next Y16.01%
EPS Next 2Y14.18%
EPS Next 3Y13.09%
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.
BUD Yearly Revenue VS EstimatesBUD 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
BUD Yearly EPS VS EstimatesBUD 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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6

4. BUD Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 18.70, BUD is valued on the expensive side.
  • Compared to the rest of the industry, the Price/Earnings ratio of BUD is on the same level as its industry peers.
  • Compared to an average S&P500 Price/Earnings ratio of 26.78, BUD is valued a bit cheaper.
  • BUD is valuated correctly with a Price/Forward Earnings ratio of 16.12.
  • 64.71% of the companies in the same industry are more expensive than BUD, based on the Price/Forward Earnings ratio.
  • The average S&P500 Price/Forward Earnings ratio is at 23.54. BUD is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 18.7
Fwd PE 16.12
BUD Price Earnings VS Forward Price EarningsBUD Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • BUD's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. BUD is cheaper than 79.41% of the companies in the same industry.
  • 85.29% of the companies in the same industry are more expensive than BUD, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 13.13
EV/EBITDA 9.34
BUD Per share dataBUD EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The decent profitability rating of BUD may justify a higher PE ratio.
  • BUD's earnings are expected to grow with 13.09% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.17
PEG (5Y)1.32
EPS Next 2Y14.18%
EPS Next 3Y13.09%

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4

5. BUD Dividend Analysis

5.1 Amount

  • BUD has a Yearly Dividend Yield of 1.98%. Purely for dividend investing, there may be better candidates out there.
  • BUD's Dividend Yield is comparable with the industry average which is at 1.83.
  • BUD's Dividend Yield is comparable with the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 1.98%

5.2 History

  • On average, the dividend of BUD grows each year by 20.37%, which is quite nice.
  • BUD has paid a dividend for at least 10 years, which is a reliable track record.
  • BUD has decreased its dividend recently.
Dividend Growth(5Y)20.37%
Div Incr Years1
Div Non Decr Years1
BUD Yearly Dividends per shareBUD Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3 4

5.3 Sustainability

  • BUD pays out 66.45% of its income as dividend. This is not a sustainable payout ratio.
  • BUD's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP66.45%
EPS Next 2Y14.18%
EPS Next 3Y13.09%
BUD Yearly Income VS Free CF VS DividendBUD Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B
BUD Dividend Payout.BUD Dividend Payout, showing the Payout Ratio.BUD Dividend Payout.PayoutRetained Earnings

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BUD Fundamentals: All Metrics, Ratios and Statistics

ANHEUSER-BUSCH INBEV-SPN ADR

NYSE:BUD (4/10/2026, 8:09:07 PM)

After market: 75.79 +0.06 (+0.08%)

75.73

+0.54 (+0.72%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)02-12
Earnings (Next)05-05
Inst Owners20.7%
Inst Owner Change0.01%
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap147.44B
Revenue(TTM)59.32B
Net Income(TTM)6.84B
Analysts80.61
Price Target88.23 (16.51%)
Short Float %0.6%
Short Ratio2.58
Dividend
Industry RankSector Rank
Dividend Yield 1.98%
Yearly Dividend2.31
Dividend Growth(5Y)20.37%
DP66.45%
Div Incr Years1
Div Non Decr Years1
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)0%
PT rev (3m)10.38%
EPS NQ rev (1m)-0.45%
EPS NQ rev (3m)13.66%
EPS NY rev (1m)-0.19%
EPS NY rev (3m)8.5%
Revenue NQ rev (1m)-0.17%
Revenue NQ rev (3m)1.66%
Revenue NY rev (1m)0.05%
Revenue NY rev (3m)1.21%
Valuation
Industry RankSector Rank
PE 18.7
Fwd PE 16.12
P/S 2.49
P/FCF 13.13
P/OCF 9.91
P/B 1.69
P/tB N/A
EV/EBITDA 9.34
EPS(TTM)4.05
EY5.35%
EPS(NY)4.7
Fwd EY6.2%
FCF(TTM)5.77
FCFY7.61%
OCF(TTM)7.64
OCFY10.09%
SpS30.47
BVpS44.83
TBVpS-37.29
PEG (NY)1.17
PEG (5Y)1.32
Graham Number63.92
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 1.8
F-Score8
WACC6.42%
ROIC/WACC0.97
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 Y16.01%
EPS Next 2Y14.18%
EPS Next 3Y13.09%
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 Year45.03%
EBIT Next 3Y16.86%
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-SPN ADR / BUD Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for ANHEUSER-BUSCH INBEV-SPN ADR?

ChartMill assigns a fundamental rating of 5 / 10 to BUD.


What is the valuation status of ANHEUSER-BUSCH INBEV-SPN ADR (BUD) stock?

ChartMill assigns a valuation rating of 6 / 10 to ANHEUSER-BUSCH INBEV-SPN ADR (BUD). This can be considered as Fairly Valued.


Can you provide the profitability details for ANHEUSER-BUSCH INBEV-SPN ADR?

ANHEUSER-BUSCH INBEV-SPN ADR (BUD) has a profitability rating of 6 / 10.


What are the PE and PB ratios of ANHEUSER-BUSCH INBEV-SPN ADR (BUD) stock?

The Price/Earnings (PE) ratio for ANHEUSER-BUSCH INBEV-SPN ADR (BUD) is 18.7 and the Price/Book (PB) ratio is 1.69.


Can you provide the dividend sustainability for BUD stock?

The dividend rating of ANHEUSER-BUSCH INBEV-SPN ADR (BUD) is 4 / 10 and the dividend payout ratio is 66.45%.