Anheuser-Busch InBev SA/NV ADR Dossier
Financial Snapshot
Revenue, profitability, returns, debt, and capital allocation
Revenue $59.3B-0.7% YoYTTM through 31 Dec 2025
Net Income $8.5B+14.3% YoYTTM through 31 Dec 2025
Free Cash Flow $11.2BTTM through 31 Dec 2025
Margins
| Current | |
|---|---|
| Operating Margin | 26.0% |
| Net Margin | 14.3% |
Returns
8.7%ROE
3.9%ROA
5.3%ROIC
Balance Sheet Health
Debt / Equity0.75x
Current Ratio0.72x
Net Debt$61.4B
Cash & Equivalents$11.6B
Quality Metrics
Piotroski F-Score6 / 9
FCF Margin18.9%
Rule of 4028.0
Earnings-Beat Rate100.0%
Multi-Year Trend
RevenueFY2025: $59.3B
Diluted EPSFY2025: $3.39
Dividend
$1.17Per share, FY20261.50%Yield4 yrsStreak+14.5%5-yr growth
Capital Allocation
Capex Intensity6.2%
Segment Performance
| Segment | Revenue | YoY | Outlook |
|---|---|---|---|
| Megabrands | +4.1% | View detailsLed by Corona, which grew by 8.3% outside of Mexico in FY25 | |
| Beyond Beer | +23.0% | View detailsPerformance led by Cutwater in the US | |
| No-alcohol beer | +34.0% | View detailsStrong double-digit volume growth |
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