ANHEUSER-BUSCH INBEV-SPN ADR (BUD) Stock Fundamental Analysis

NYSE:BUD • US03524A1088

79.48 USD
+0.89 (+1.13%)
At close: Feb 26, 2026
79.48 USD
0 (0%)
After Hours: 2/26/2026, 8:13:28 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

Taking everything into account, BUD scores 4 out of 10 in our fundamental rating. BUD was compared to 33 industry peers in the Beverages industry. While BUD is still in line with the averages on profitability rating, there are concerns on its financial health. BUD has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • BUD had positive earnings in the past year.
  • BUD had a positive operating cash flow in the past year.
  • BUD had positive earnings in each of the past 5 years.
  • 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

  • BUD has a Return On Assets of 3.12%. This is comparable to the rest of the industry: BUD outperforms 45.45% of its industry peers.
  • BUD has a Return On Equity (7.83%) which is comparable to the rest of the industry.
  • BUD has a worse Return On Invested Capital (6.24%) than 60.61% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for BUD is significantly below the industry average of 11.72%.
  • 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

  • The Profit Margin of BUD (11.53%) is better than 69.70% of its industry peers.
  • In the last couple of years the Profit Margin of BUD has grown nicely.
  • With an excellent Operating Margin value of 26.73%, BUD belongs to the best of the industry, outperforming 84.85% of the companies in the same industry.
  • BUD's Operating Margin has been stable in the last couple of years.
  • Looking at the Gross Margin, with a value of 55.93%, BUD is in the better half of the industry, outperforming 75.76% of the companies in the same industry.
  • 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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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BUD is destroying value.
  • BUD has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, BUD has less shares outstanding
  • BUD has a better debt/assets ratio than last year.
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

  • An Altman-Z score of 1.83 indicates that BUD is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • BUD's Altman-Z score of 1.83 is in line compared to the rest of the industry. BUD outperforms 45.45% of its industry peers.
  • 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 54.55% of the companies in the same industry.
  • A Debt/Equity ratio of 0.83 indicates that BUD is somewhat dependend on debt financing.
  • BUD has a worse Debt to Equity ratio (0.83) than 60.61% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 6.5
Altman-Z 1.83
ROIC/WACC0.96
WACC6.51%
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

  • BUD has a Current 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's Current ratio of 0.72 is on the low side compared to the rest of the industry. BUD is outperformed by 78.79% of its industry peers.
  • A Quick Ratio of 0.57 indicates that BUD may have some problems paying its short term obligations.
  • The Quick ratio of BUD (0.57) is worse than 66.67% 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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

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.
  • BUD shows a decrease in Revenue. In the last year, the revenue decreased by -0.75%.
  • BUD shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.82% yearly.
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

  • Based on estimates for the next years, BUD will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.28% on average per year.
  • BUD is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.64% yearly.
EPS Next Y14.37%
EPS Next 2Y13.69%
EPS Next 3Y11.67%
EPS Next 5Y11.28%
Revenue Next Year6.55%
Revenue Next 2Y5.16%
Revenue Next 3Y4.96%
Revenue Next 5Y3.64%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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 2 4 6

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5

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 19.58, the valuation of BUD can be described as rather expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of BUD is on the same level as its industry peers.
  • BUD's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.21.
  • The Price/Forward Earnings ratio is 17.13, which indicates a rather expensive current valuation of BUD.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of BUD is on the same level as its industry peers.
  • When comparing the Price/Forward Earnings ratio of BUD to the average of the S&P500 Index (28.13), we can say BUD is valued slightly cheaper.
Industry RankSector Rank
PE 19.58
Fwd PE 17.13
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

  • 78.79% of the companies in the same industry are more expensive than BUD, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, BUD is valued cheaper than 84.85% of the companies in the same industry.
Industry RankSector Rank
P/FCF 13.76
EV/EBITDA 9.64
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.
PEG (NY)1.36
PEG (5Y)1.38
EPS Next 2Y13.69%
EPS Next 3Y11.67%

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

4

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 1.80%, BUD has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 1.74, BUD has a dividend in line with its industry peers.
  • BUD's Dividend Yield is comparable with the S&P500 average which is at 1.80.
Industry RankSector Rank
Dividend Yield 1.8%

5.2 History

  • On average, the dividend of BUD grows each year by 20.37%, which is quite nice.
  • BUD has been paying a dividend for at least 10 years, so it has 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 2Y13.69%
EPS Next 3Y11.67%
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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ANHEUSER-BUSCH INBEV-SPN ADR

NYSE:BUD (2/26/2026, 8:13:28 PM)

After market: 79.48 0 (0%)

79.48

+0.89 (+1.13%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)02-12
Earnings (Next)05-05
Inst Owners20.5%
Inst Owner Change-3.46%
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap154.46B
Revenue(TTM)59.32B
Net Income(TTM)6.84B
Analysts83.13
Price Target81.79 (2.91%)
Short Float %0.72%
Short Ratio3.31
Dividend
Industry RankSector Rank
Dividend Yield 1.8%
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)1.87%
PT rev (3m)1.93%
EPS NQ rev (1m)10.35%
EPS NQ rev (3m)11.69%
EPS NY rev (1m)6.57%
EPS NY rev (3m)6.6%
Revenue NQ rev (1m)1.39%
Revenue NQ rev (3m)1.57%
Revenue NY rev (1m)0.66%
Revenue NY rev (3m)0.57%
Valuation
Industry RankSector Rank
PE 19.58
Fwd PE 17.13
P/S 2.6
P/FCF 13.76
P/OCF 10.38
P/B 1.77
P/tB N/A
EV/EBITDA 9.64
EPS(TTM)4.06
EY5.11%
EPS(NY)4.64
Fwd EY5.84%
FCF(TTM)5.78
FCFY7.27%
OCF(TTM)7.66
OCFY9.64%
SpS30.52
BVpS44.92
TBVpS-37.36
PEG (NY)1.36
PEG (5Y)1.38
Graham Number64.05
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 1.83
F-Score8
WACC6.51%
ROIC/WACC0.96
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 Y14.37%
EPS Next 2Y13.69%
EPS Next 3Y11.67%
EPS Next 5Y11.28%
Revenue 1Y (TTM)-0.75%
Revenue growth 3Y0.88%
Revenue growth 5Y4.82%
Sales Q2Q%4.81%
Revenue Next Year6.55%
Revenue Next 2Y5.16%
Revenue Next 3Y4.96%
Revenue Next 5Y3.64%
EBIT growth 1Y2.54%
EBIT growth 3Y2.85%
EBIT growth 5Y5.18%
EBIT Next Year43.13%
EBIT Next 3Y16.59%
EBIT Next 5Y12.82%
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 FAQ

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

ChartMill assigns a fundamental rating of 4 / 10 to BUD.


Can you provide the valuation status for ANHEUSER-BUSCH INBEV-SPN ADR?

ChartMill assigns a valuation rating of 5 / 10 to ANHEUSER-BUSCH INBEV-SPN ADR (BUD). This can be considered as Fairly Valued.


What is the profitability of BUD stock?

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


Can you provide the expected EPS growth for BUD stock?

The Earnings per Share (EPS) of ANHEUSER-BUSCH INBEV-SPN ADR (BUD) is expected to grow by 14.37% in the next year.


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%.