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BUD · NYSE · United States · Malt Beverages
In shortAnheuser-Busch InBev SA/NV is profitable, generates cash and carries moderate debt, with revenue stable (−0.7% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 26.0% | 100/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 11.5% | 66/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 8.3% | 41/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 7.2% | 48/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.72× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.84× | 65/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 2.91× | 31/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 2.99× | 14/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 1.63 | 13/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 18.9% | 96/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.64× | 100/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 5 | 67/100 |
| Revenue growth volatility | 6.6% | 87/100 |
| Operating margin volatility | 1.0% | 100/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 0.9% | 22/100 |
|---|---|---|
| EPS growth, 3-year average | 5.2% | 51/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 54,304 | 57,786 | 59,380 | 59,768 | 59,320 |
| Cost of revenue | 23,097 | 26,305 | 27,396 | 26,744 | 26,141 |
| Gross profit | 31,207 | 31,481 | 31,984 | 33,024 | 33,179 |
| Research & development | 298 | – | – | – | – |
| Operating income | 13,824 | 14,517 | 13,966 | 15,487 | 15,405 |
| Interest expense | 6,040 | 5,814 | 6,133 | 6,376 | 5,146 |
| Pre-tax income | 8,463 | 9,524 | 9,124 | 10,568 | 11,328 |
| Income tax | 2,350 | 1,928 | 2,234 | 3,152 | 2,850 |
| Net income | 4,670 | 5,969 | 5,341 | 5,855 | 6,837 |
| Diluted EPS | $2.28 | $2.91 | $2.60 | $2.86 | $3.39 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
1.63 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
7/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Mar 3, 2026