Anheuser-Busch Inbev Sa (BUD) AI Stock Analysis

• Market Cap: $157.54B
• Dividend Yield: 1.83%
• Average Volume (3M): 2.34M
• Price to Earnings (P/E): 22.8
• Beta (1Y): 0.22
• Revenue Growth: -2.06%
• EPS Growth: 21.03%
• Country: US
• Employees: 144,000
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Beverages - Alcoholic
• EPS (TTM): 0.95
• Shares Outstanding: 1,797,203,200
• 10 Day Avg. Volume: 2,694,603
• 30 Day Avg. Volume: 2,336,837
• PEG Ratio: 1.00
• Price to Book (P/B): 1.46
• Price to Sales (P/S): 2.14
• P/FCF Ratio: 11.28
• Enterprise Value/Market Cap: 1.37
• Enterprise Value/Revenue: 3.64
• Enterprise Value/Gross Profit: 6.37
• Enterprise Value/Ebitda: 10.45
• 1Y Price Target: $98.84
• Price Target Upside: 25.88% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 4.33
• Revenue Forecast (FY): $63.44B

• Rating: 68 Neutral
• Price Target: $88.00 ▲(12.07% Upside)
• Action: Downgraded Date: 02/18/26
• Date: Action: Downgraded 02/18/26

The score is primarily supported by strong profitability and durable cash generation alongside improving leverage, reinforced by favorable 2026 EBITDA growth guidance and significant buybacks/dividend growth. Offsetting factors are the reported 2025 revenue decline and high absolute debt, while technicals show an extended rally (RSI/Stoch very overbought) and valuation/income metrics are only average-to-modest.

Positive Factors

Durable free cash flow generation

Consistently large operating cash flow (~$13–15B) and ~$11.3B free cash flow provide sustainable internal funding for capex, innovation, buybacks and dividends, enabling deleveraging and strategic investments that strengthen long-term competitive position despite cyclical demand swings.

High and improving margins

EBIT/EBITDA margins near 25%/35% reflect structural pricing power, premiumization and cost discipline. Higher margins increase cash conversion and resilience to volume weakness, supporting durable profitability and the ability to fund brand investment and shareholder returns over the medium term.

Regained packaging asset control (US)

Restoring full ownership of US metal container plants consolidates a critical supply‑chain asset, improving cost control, quality and innovation speed. This structural move reduces supplier risk, supports margin management in a key market and enhances long‑term operational flexibility.

Negative Factors

High absolute debt burden

Absolute net debt near $73B leaves the company exposed to interest rate and FX volatility and constrains strategic optionality. Even with improving leverage ratios, elevated nominal debt increases refinancing, covenant and funding risks under adverse macro scenarios and limits aggressive M&A or capex pacing.

Reported sharp 2025 revenue decline

A reported steep revenue drop in 2025 signals significant top‑line instability or structural reporting/headline effects that reduce visibility. Persistent or recurring top‑line volatility undermines planning, makes returns on brand and platform investments harder to predict, and increases execution risk for growth strategies.

China weakness and volume underperformance

China is a large, strategic market; low‑teens revenue declines and broader volume underperformance indicate structural demand and channel challenges. Rebuilding on‑trade and share in China will be a multi‑period effort and may cap growth and economies of scale, limiting long‑term upside.

Anheuser-Busch Inbev Sa Business Overview & Revenue Model

Company Description

Anheuser-Busch InBev SA/NV engages in the production, distribution, and sale of beer, alcoholic beverages, and soft drinks worldwide. It offers a portfolio of approximately 500 beer brands, which primarily include Budweiser, Corona, and Stella Artois; Beck's, Hoegaarden, Leffe, and Michelob Ultra; and Aguila, Antarctica, Bud Light, Brahma, Cass, Castle, Castle Lite, Cristal, Harbin, Jupiler, Modelo Especial, Quilmes, Victoria, Sedrin, and Skol brands. The company was founded in 1366 and is headquartered in Leuven, Belgium.

How the Company Makes Money

Anheuser-Busch InBev primarily generates revenue through the sale of beer and other alcoholic beverages. Its revenue model is based on selling both packaged and draught beer to wholesalers, retailers, and directly to consumers. Key revenue streams include sales from its extensive portfolio of brands, which cater to various consumer preferences and regional tastes. Additionally, the company benefits from economies of scale, allowing it to optimize production and distribution costs. Significant partnerships with distributors, retailers, and hospitality businesses enhance its market reach and contribute to earnings. Seasonal promotions and marketing campaigns also play a crucial role in driving sales, particularly during peak consumption periods. Furthermore, Anheuser-Busch InBev invests in innovation and product development, introducing new flavors and alternative beverages, which helps to capture a broader market audience and sustain revenue growth.

Anheuser-Busch Inbev Sa Financial Statement Overview

Summary

Profitability and cash generation are strong (2025 EBIT/EBITDA margins ~25%/~35%, operating cash flow ~$13–15B, free cash flow ~$11.3B). Balance sheet leverage is improving (debt-to-equity down to ~0.84x), but absolute debt remains high (~$73B) and the reported 2025 revenue decline is a key top-line risk.

Income Statement

Profitability is solid and improving: net margin rose from ~3.0% (2020) to ~11.5% (2025), and EBIT/EBITDA margins have strengthened to ~25%/~35% in 2025. Revenue has largely been stable in the high-$50B range since 2021, but growth has been modest and turned sharply negative in 2025 (reported -65.4%), which is a clear risk flag and creates uncertainty around the top-line trajectory despite strong margins.

Balance Sheet

Leverage has improved versus earlier years: debt-to-equity declined from ~1.45x (2020) to ~0.84x (2025), indicating a healthier capital structure trend. However, absolute debt remains high (~$73B in 2025), and returns on equity are only moderate (~7–8% recently), suggesting profitability is good but not exceptional relative to the equity base and leverage still matters.

Cash Flow

Cash generation is consistently strong: operating cash flow has been roughly $13–15B (2022–2025) and free cash flow is robust at ~$11.3B in 2025. Free cash flow conversion is decent but not perfect (free cash flow is ~75% of net income in 2024–2025), and free cash flow growth is volatile (notably negative in 2025), which points to some variability in cash efficiency year to year.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	59.50B	59.77B	59.38B	57.79B	54.30B
Gross Profit	33.28B	33.02B	31.98B	31.48B	31.21B
EBITDA	20.76B	20.30B	19.07B	18.98B	17.79B
Net Income	6.86B	5.86B	5.34B	5.97B	4.67B
Balance Sheet
Total Assets	218.81B	206.64B	219.34B	212.94B	217.63B
Cash, Cash Equivalents and Short-Term Investments	11.94B	11.39B	10.40B	10.00B	12.39B
Total Debt	73.03B	72.17B	78.17B	79.99B	88.83B
Total Liabilities	121.07B	117.94B	126.66B	128.66B	138.29B
Stockholders Equity	87.29B	78.24B	81.85B	73.40B	68.67B
Cash Flow
Free Cash Flow	11.26B	11.17B	8.64B	7.77B	8.95B
Operating Cash Flow	14.93B	15.03B	13.29B	12.93B	14.58B
Investing Cash Flow	-3.77B	-3.69B	-4.38B	-4.64B	-5.87B
Financing Cash Flow	-11.16B	-9.40B	-8.59B	-10.23B	-11.39B

Anheuser-Busch Inbev Sa Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 78.52
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BUD, the sentiment is Positive. The current price of 78.52 is above the 20-day moving average (MA) of 74.93, above the 50-day MA of 69.07, and above the 200-day MA of 65.23, indicating a bullish trend. The MACD of 3.10 indicates Negative momentum. The RSI at 74.90 is Negative, neither overbought nor oversold. The STOCH value of 58.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BUD.

Anheuser-Busch Inbev Sa Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ABEV	80 Outperform	$48.78B	17.16	17.42%	8.22%	-0.68%	4.29%
CCU	70 Outperform	$2.59B	18.67	9.07%	2.53%	16.59%	1.72%
BUD	68 Neutral	$157.54B	22.82	8.29%	1.83%	-2.06%	21.03%
STZ	67 Neutral	$27.10B	24.64	14.29%	2.92%	-5.57%	119.49%
FMX	65 Neutral	$22.59B	50.59	5.48%	4.33%	1.44%	-38.87%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
TAP	54 Neutral	$10.07B	―	-18.35%	4.08%	-4.01%	-339.22%

Anheuser-Busch Inbev Sa Corporate Events

AB InBev Posts Higher 2025 Earnings, Raises Payout Amid Premium and No-Alcohol Growth

On 12 February 2026, AB InBev reported its fourth-quarter and full-year 2025 results, showing revenue growth of 2.5% in Q4 and 2.0% for the year, despite volume declines of 1.5% in the quarter and 2.3% for 2025 amid a constrained consumer environment and adverse weather in some markets. Normalized EBITDA rose 4.9% for the year with a 101-basis-point margin expansion to 35.8%, underlying EPS increased 6% to 3.73 USD, free cash flow reached 11.3 billion USD, and net debt to EBITDA edged down to 2.87x, underlining improved profitability and balance sheet resilience.

The brewer highlighted strong momentum in its premium, Beyond Beer and no-alcohol portfolios, noting that revenue per hectoliter grew 4.4% in 2025, driven by price/mix and premiumization, while marketing investments of 7.4 billion USD supported share gains in roughly two-thirds of its markets. The board proposed a final dividend of 1.00 EUR per share for 2025, bringing the total annual payout to 1.15 EUR, and confirmed progress on a previously announced 6 billion USD share buyback, signaling confidence in future cash generation and a shareholder-friendly capital allocation stance.

The most recent analyst rating on (BUD) stock is a Buy with a $85.00 price target. To see the full list of analyst forecasts on Anheuser-Busch Inbev Sa stock, see the BUD Stock Forecast page.

AB InBev Reclaims Full Ownership of US Metal Container Plants in $2.9 Billion Deal

On 30 January 2026, AB InBev completed the previously announced reacquisition of the 49.9% minority stake in its US-based metal container plants from a consortium of institutional investors led and/or advised by affiliates of Apollo Global Management, in a transaction valued at approximately 2.9 billion USD. The deal restores full ownership of the packaging assets to AB InBev, consolidating control over a critical part of its US supply chain and cost base, and potentially enhancing operational flexibility and margin management in one of its most important beer markets.

The most recent analyst rating on (BUD) stock is a Hold with a $76.00 price target. To see the full list of analyst forecasts on Anheuser-Busch Inbev Sa stock, see the BUD Stock Forecast page.

AB InBev to Reacquire $3 Billion Minority Stake in US Metal Container Plants

On 6 January 2026, AB InBev announced it had exercised its right to reacquire the 49.9% minority stake in its US-based metal container plants from a consortium of institutional investors led or advised by Apollo Global Management, in a deal valued at approximately $3 billion. The company’s seven US metal container facilities, spread across six states, are described as strategically important for quality control, cost efficiency, innovation speed and supply security for AB InBev’s brands, while also supporting manufacturing employment and local economic growth. The repurchase, to be funded entirely with cash on hand, is positioned as aligned with AB InBev’s capital allocation framework focused on long-term shareholder value and is expected to be earnings-per-share accretive in the first year after closing, with completion targeted for the first quarter of 2026 subject to customary conditions.

The most recent analyst rating on (BUD) stock is a Buy with a $75.00 price target. To see the full list of analyst forecasts on Anheuser-Busch Inbev Sa stock, see the BUD Stock Forecast page.