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Anheuser-Busch InBev SA/NV (BUD) Financials

Anheuser-Busch InBev SA/NV logo
$82.19 +1.82 (+2.27%)
Closing price 05/6/2026 03:59 PM Eastern
Extended Trading
$81.13 -1.06 (-1.29%)
As of 04:34 AM Eastern
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Annual Income Statements for Anheuser-Busch InBev SA/NV

Annual Income Statements for Anheuser-Busch InBev SA/NV

This table shows Anheuser-Busch InBev SA/NV's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders
8,325 7,500 11,518 7,201 15,686 4,551 6,983 8,989 7,548 7,416 8,918
Consolidated Net Income / (Loss)
9,867 2,769 9,166 5,688 10,414 2,202 6,114 7,597 6,891 7,416 8,477
Net Income / (Loss) Continuing Operations
8,325 5,972 8,607 4,565 15,686 902 5,539 8,989 7,548 7,416 8,918
Total Pre-Tax Income
10,919 7,585 10,265 7,150 18,472 2,834 7,889 9,524 9,124 10,568 11,328
Total Operating Income
10,330 5,135 9,997 -1,139 24,465 2,079 3,219 14,517 13,966 15,487 15,405
Total Gross Profit
26,467 27,715 33,884 33,108 31,967 27,247 31,207 31,481 31,984 33,024 33,179
Total Revenue
43,300 37,771 55,239 44,650 54,848 47,759 49,126 57,786 59,380 59,768 59,320
Operating Revenue
43,300 37,771 55,239 44,650 54,848 47,759 49,126 57,786 59,380 59,768 59,320
Total Cost of Revenue
20,279 22,346 33,697 29,194 20,362 36,260 29,137 26,305 27,396 26,744 26,141
Operating Cost of Revenue
20,279 22,346 33,697 29,194 20,362 36,260 29,137 26,305 27,396 26,744 26,141
Total Operating Expenses
12,691 10,290 11,545 16,595 10,021 9,420 16,770 16,714 17,395 17,561 17,325
Selling, General & Admin Expense
- - 3,779 3,421 - 3,404 4,394 4,414 4,738 4,983 4,667
Marketing Expense
6,913 7,745 8,265 7,774 7,348 6,861 7,292 6,752 7,158 7,156 7,374
Other Operating Expenses / (Income)
5,867 2,222 -946 5,037 2,673 -845 5,084 5,548 5,499 5,422 5,284
Total Other Income / (Expense), net
589 2,450 268 8,289 -5,993 755 4,670 -4,148 -5,102 -5,353 -4,465
Interest Expense
- - - - - 0.00 - 5,814 6,133 6,376 5,146
Interest & Investment Income
- - - - - - - 1,665 1,031 1,024 682
Other Income / (Expense), net
589 2,450 268 8,289 -5,993 755 4,670 299 295 329 378
Income Tax Expense
2,594 1,613 1,658 2,585 2,786 1,932 2,350 1,928 2,234 3,152 2,850
Basic Earnings per Share
- - $4.05 $2.21 - $0.70 $2.33 $2.97 $2.65 $2.92 $3.45
Weighted Average Basic Shares Outstanding
- - 1.69B 1.69B 1.69B 1.69B 1.74B 1.74B 1.74B 1.80B 1.80B
Diluted Earnings per Share
$4.96 - $3.98 $2.17 - $0.69 $2.28 $2.91 $2.60 $2.86 $3.39
Weighted Average Diluted Shares Outstanding
- - 1.69B 1.69B 1.69B 1.69B 1.74B 1.74B 1.74B 1.80B 1.80B
Weighted Average Basic & Diluted Shares Outstanding
- - 1.69B 1.69B 1.69B 1.69B 1.74B 1.74B 1.74B 1.80B 1.80B

Quarterly Income Statements for Anheuser-Busch InBev SA/NV

No quarterly income statements for Anheuser-Busch InBev SA/NV are available.


Annual Cash Flow Statements for Anheuser-Busch InBev SA/NV

This table details how cash moves in and out of Anheuser-Busch InBev SA/NV's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents
28,100 105,268 19,816 -3,248 17,569 8,752 -2,677 -1,942 315 21,957 20,836
Net Cash From Operating Activities
32,399 46,497 27,751 15,064 30,256 10,891 14,799 13,298 13,265 32,194 31,392
Net Cash From Continuing Operating Activities
32,399 46,497 27,751 14,230 30,256 9,079 15,422 12,805 12,560 32,194 31,392
Net Income / (Loss) Continuing Operations
9,867 2,769 0.00 5,157 0.00 147 6,114 7,597 6,891 0.00 0.00
Depreciation Expense
3,153 3,477 4,625 4,624 4,657 4,829 5,052 5,078 5,411 5,544 5,652
Non-Cash Adjustments To Reconcile Net Income
17,169 22,296 24,917 8,564 22,813 7,919 5,538 4,494 5,412 23,498 22,890
Changes in Operating Assets and Liabilities, net
2,210 17,955 -1,791 -4,115 2,786 -3,816 -1,282 -4,364 -5,154 3,152 2,850
Net Cash From Investing Activities
-4,761 4,546 11,321 -3,966 -5,239 6,336 -5,878 -4,337 -4,390 -3,735 -3,552
Net Cash From Continuing Investing Activities
-4,761 4,546 11,321 -3,877 -5,239 7,151 -5,498 -4,838 -4,482 -3,735 -3,552
Purchase of Property, Plant & Equipment
-4,749 -4,979 -4,680 -5,005 -5,174 -3,781 -5,640 -5,160 -4,638 -3,863 -3,656
Sale of Property, Plant & Equipment
809 211 538 437 320 10,932 142 322 156 128 104
Net Cash From Financing Activities
462 54,225 -19,256 -14,346 -7,448 -8,475 -11,598 -10,904 -8,560 -6,502 -7,004
Net Cash From Continuing Financing Activities
462 54,225 -19,256 -13,814 -7,448 -7,516 -11,633 -10,945 -7,697 -6,502 -7,004
Repayment of Debt
-15,780 -23,617 -23,333 -22,912 -30,592 -23,577 -9,496 -7,875 -3,878 -9,295 -6,861
Payment of Dividends
- -8,450 -9,275 -7,761 -5,015 -1,800 -2,364 -2,442 -3,013 -2,672 -4,543
Issuance of Debt
16,237 86,292 13,352 17,782 28,159 14,822 454 91 202 5,465 4,400
Cash Interest Paid
1,943 3,279 4,777 - 4,450 - - - - 3,649 3,348
Cash Interest Received
334 558 811 - 523 - - - - 594 462
Cash Income Taxes Paid
4,949 3,256 2,141 - 3,136 - - - - 3,134 3,240

Quarterly Cash Flow Statements for Anheuser-Busch InBev SA/NV

No quarterly cash flow statements for Anheuser-Busch InBev SA/NV are available.


Annual Balance Sheets for Anheuser-Busch InBev SA/NV

This table presents Anheuser-Busch InBev SA/NV's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets
256,586 248,208 233,868 236,648 226,410 217,627 212,943 219,340 206,637 218,808
Total Current Assets
26,541 21,991 18,281 18,659 26,519 23,949 23,186 23,367 22,999 24,769
Cash & Equivalents
8,579 10,472 7,074 7,238 15,252 12,097 9,973 10,332 11,174 11,638
Short-Term Investments
5,741 - 16 - 533 621 331 505 554 583
Accounts Receivable
7,220 7,400 6,375 6,994 6,494 5,046 5,330 6,024 5,270 6,161
Inventories, net
3,889 4,119 4,234 4,427 4,482 5,429 6,612 5,583 5,020 5,107
Current Deferred & Refundable Income Taxes
1,112 - 457 - - 381 813 822 727 785
Plant, Property, & Equipment, net
26,219 26,716 27,615 26,565 26,419 26,678 26,671 26,818 23,503 23,664
Plant, Property & Equipment, gross
- 26,716 27,615 26,565 -11,090 26,678 26,671 26,818 23,503 23,664
Total Noncurrent Assets
456,129 192,280 187,863 183,912 364,785 166,839 162,911 168,977 159,968 170,213
Long-Term Investments
4,324 6,667 6,136 6,063 6,143 5,874 4,656 4,872 4,612 5,002
Goodwill
135,864 140,940 133,311 128,114 120,971 115,796 113,010 117,043 110,479 117,908
Intangible Assets
44,789 45,874 44,831 42,452 41,527 40,430 40,209 41,286 40,034 41,985
Noncurrent Deferred & Refundable Income Taxes
1,261 -1,039 2,509 -649 2,019 3,106 3,183 3,779 2,963 3,152
Other Noncurrent Operating Assets
253,433 -1,911 1,076 -3,789 194,051 1,633 1,853 1,997 1,880 2,166
Total Liabilities & Shareholders' Equity
580,225 372,368 233,868 346,391 226,410 217,627 212,943 219,340 206,637 218,808
Total Liabilities
346,036 363,008 50,284 335,824 138,962 49,458 48,672 48,496 45,768 48,044
Total Current Liabilities
191,359 136,861 34,826 122,371 123,046 34,184 34,383 37,156 33,066 34,475
Accounts Payable
24,402 26,224 22,568 24,807 24,487 25,434 26,349 25,981 23,804 25,455
Current Deferred & Payable Income Tax Liabilities
3,845 - 1,220 - - 1,334 1,438 1,583 1,805 1,825
Other Current Liabilities
40,553 - 6,340 - - 5,955 5,484 5,587 6,008 6,296
Total Noncurrent Liabilities
154,677 226,147 127,153 213,453 15,916 104,104 94,282 89,508 84,871 86,596
Noncurrent Deferred & Payable Income Tax Liabilities
14,697 13,107 13,741 12,824 12,947 12,930 12,428 12,463 11,605 11,606
Noncurrent Employee Benefit Liabilities
3,014 2,971 2,681 2,834 2,964 2,261 1,534 1,673 1,296 1,275
Other Noncurrent Operating Liabilities
134,792 202,223 3,734 191,240 - 1,444 1,439 1,209 1,250 1,587
Total Equity & Noncontrolling Interests
234,189 9,360 71,889 10,567 68,024 79,340 84,278 92,676 88,700 97,736
Total Preferred & Common Equity
224,103 1,736 136,374 1,736 68,024 68,669 73,398 81,848 78,237 87,287
Preferred Stock
- - 17,620 - - 17,620 17,620 17,620 17,620 17,620
Total Common Equity
224,103 1,736 46,865 1,736 68,024 51,049 55,777 64,227 60,617 69,667
Common Stock
1,736 1,736 1,736 1,736 1,736 1,736 1,736 1,736 1,736 1,736
Retained Earnings
28,214 - 26,068 - 30,870 33,882 38,823 42,215 46,577 50,128
Other Equity Adjustments
194,153 - 19,061 - 35,418 15,431 15,218 20,276 12,304 17,803
Noncontrolling Interest
10,086 7,624 7,404 8,831 - 10,671 10,880 10,828 10,463 10,449

Quarterly Balance Sheets for Anheuser-Busch InBev SA/NV

This table presents Anheuser-Busch InBev SA/NV's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q4 2023 Q4 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets
212,943 219,340 206,637
Total Current Assets
23,186 23,367 22,999
Cash & Equivalents
9,973 10,332 11,174
Short-Term Investments
331 505 554
Accounts Receivable
5,330 6,024 5,270
Inventories, net
6,612 5,583 5,020
Current Deferred & Refundable Income Taxes
813 822 727
Plant, Property, & Equipment, net
26,671 26,818 23,503
Plant, Property & Equipment, gross
26,671 26,818 23,503
Total Noncurrent Assets
162,911 168,977 159,968
Long-Term Investments
4,656 4,872 4,612
Goodwill
113,010 117,043 110,479
Intangible Assets
40,209 41,286 40,034
Noncurrent Deferred & Refundable Income Taxes
3,183 3,779 2,963
Other Noncurrent Operating Assets
1,853 1,997 1,880
Total Liabilities & Shareholders' Equity
212,943 219,340 206,637
Total Liabilities
48,672 48,496 45,768
Total Current Liabilities
34,383 37,156 33,066
Accounts Payable
26,349 25,981 23,804
Current Deferred & Payable Income Tax Liabilities
1,438 1,583 1,805
Other Current Liabilities
5,484 5,587 6,008
Total Noncurrent Liabilities
94,282 89,508 84,871
Noncurrent Deferred & Payable Income Tax Liabilities
12,428 12,463 11,605
Noncurrent Employee Benefit Liabilities
1,534 1,673 1,296
Other Noncurrent Operating Liabilities
1,439 1,209 1,250
Total Equity & Noncontrolling Interests
84,278 92,676 88,700
Total Preferred & Common Equity
73,398 81,848 78,237
Preferred Stock
17,620 17,620 17,620
Total Common Equity
55,777 64,227 60,617
Common Stock
1,736 1,736 1,736
Retained Earnings
38,823 42,215 46,577
Other Equity Adjustments
15,218 20,276 12,304
Noncontrolling Interest
10,880 10,828 10,463

Annual Metrics And Ratios for Anheuser-Busch InBev SA/NV

This table displays calculated financial ratios and metrics derived from Anheuser-Busch InBev SA/NV's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding
- - - - - - - - - - 1,797,199,994.00
DEI Adjusted Shares Outstanding
- - - - - - - - - - 1,797,199,994.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - - - - 4.96
Growth Metrics
- - - - - - - - - - -
Profitability Metrics
- - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)
7,876 4,043 8,382 -727 20,775 662 2,260 11,578 10,546 10,868 11,529
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - - 13.74% 11.38% 12.25% 11.80%
Earnings before Interest and Taxes (EBIT)
10,919 7,585 10,265 7,150 18,472 2,834 7,889 14,816 14,261 15,816 15,783
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
14,072 11,062 14,890 11,774 23,129 7,663 12,941 19,894 19,672 21,360 21,435
Valuation Ratios
- - - - - - - - - - -
Leverage & Solvency
- - - - - - - - - - -
Liquidity Ratios
- - - - - - - - - - -
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
0.00 -248,441 281,676 -191,661 216,782 -380,786 208,684 11,710 4,699 21,616 2,753
Efficiency Ratios
- - - - - - - - - - -
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
0.00 252,484 -20,810 170,124 -25,883 355,565 149,141 149,009 154,856 144,108 152,884
Increase / (Decrease) in Invested Capital
0.00 252,484 -273,294 190,934 -196,007 381,448 -206,424 -132 5,847 -10,748 8,776
Book Value per Share
$0.00 $0.00 $1.03 $27.68 $1.03 $40.17 $30.15 $32.11 $36.97 $34.89 $38.76
Tangible Book Value per Share
$0.00 $0.00 ($109.30) ($77.53) ($99.71) ($55.79) ($62.12) ($56.09) ($54.17) ($51.75) ($50.20)
Total Capital
0.00 356,748 127,843 71,889 113,541 166,588 79,440 84,278 92,676 88,700 97,736
Total Debt
0.00 122,559 118,483 0.00 102,974 98,564 100 0.00 0.00 0.00 0.00
Total Long-Term Debt
0.00 0.00 7,846 0.00 5,410 5.00 100 0.00 0.00 0.00 0.00
Net Debt
0.00 103,915 101,344 -13,226 89,673 76,636 -18,492 -14,960 -15,709 -16,340 -17,223
Capital Expenditures (CapEx)
3,940 4,768 4,142 4,568 4,854 -7,151 5,498 4,838 4,482 3,735 3,552
Debt-free, Cash-free Net Working Capital (DFCFNWC)
0.00 -56,579 -14,705 -23,635 -13,386 -13,753 -22,953 -21,501 -24,626 -21,795 -21,927
Debt-free Net Working Capital (DFNWC)
0.00 -42,259 -4,233 -16,545 -6,148 2,032 -10,235 -11,197 -13,789 -10,067 -9,706
Net Working Capital (NWC)
0.00 -164,818 -114,870 -16,545 -103,712 -96,527 -10,235 -11,197 -13,789 -10,067 -9,706
Net Nonoperating Expense (NNE)
-1,991 1,274 -784 -6,415 10,361 -1,540 -3,854 3,981 3,655 3,452 3,052
Net Nonoperating Obligations (NNO)
0.00 18,295 -30,170 98,235 -36,450 287,541 69,801 64,731 62,180 55,408 55,148
Total Depreciation and Amortization (D&A)
3,153 3,477 4,625 4,624 4,657 4,829 5,052 5,078 5,411 5,544 5,652
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.00 $0.00 $4.06 $2.21 $0.00 $0.70 $2.33 $0.00 $2.65 $2.92 $3.45
Adjusted Weighted Average Basic Shares Outstanding
0.00 0.00 1.69B 1.69B 1.69B 1.69B 1.74B 1.74B 1.74B 1.80B 1.80B
Adjusted Diluted Earnings per Share
$0.00 $0.00 $3.98 $2.17 $0.00 $0.69 $2.28 $0.00 $2.60 $2.86 $3.39
Adjusted Weighted Average Diluted Shares Outstanding
0.00 0.00 1.69B 1.69B 1.69B 1.69B 1.74B 1.74B 1.74B 1.80B 1.80B
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 0.00 1.69B 1.69B 1.69B 1.69B 1.74B 1.74B 1.74B 1.80B 1.80B
Normalized Net Operating Profit after Tax (NOPAT)
7,808 4,297 8,757 -495 20,775 1,455 2,260 11,578 10,546 10,868 11,529
Debt Service Ratios
- - - - - - - - - - -
Payout Ratios
- - - - - - - - - - -

Quarterly Metrics And Ratios for Anheuser-Busch InBev SA/NV

No quarterly metrics and ratios for Anheuser-Busch InBev SA/NV are available.



Financials Breakdown Chart

Key Financial Trends

Here are key balance sheet trends for Anheuser-Busch InBev (BUD) based on the last four fiscal years (2022–2024). The focus is on liquidity, leverage, capitalization, and asset quality as reflected in the quarterly statements.

  • Cash position improving — Cash & equivalents rose to $11.174B in FY2024, up from $10.332B in FY2023 and $9.973B in FY2022, supporting better near-term liquidity.
  • Retained earnings growth — Retained earnings increased to $46.577B in FY2024 from $38.823B in FY2023, signaling stronger profitability retained in the business.
  • Capital base remains robust — Total equity and noncontrolling interests reached about $92.68B in FY2024, up from roughly $84.28B in FY2023, indicating a solid capitalization base.
  • Modest rise in short-term investments — Short-term investments grew to $0.554B in FY2024, up from $0.505B in FY2023, adding a small liquidity cushion.
  • Total assets show a cyclical pattern — Assets rose from FY2022 to FY2023 (roughly $212.9B to $219.3B) but declined in FY2024 to about $206.6B, reflecting a shift in asset mix rather than a consistent trend.
  • Asset mix remains dominated by intangible assets — Noncurrent assets include very large goodwill and intangible values, suggesting valuations rely heavily on brand/intangible assets rather than purely physical assets.
  • Current assets generally stable — Total current assets hovered around $23B across years (FY2022: ~$23.19B, FY2023: ~$23.37B, FY2024: ~$23.00B), indicating a relatively stable liquidity base.
  • Physical asset base contracted in 2024 — Plant, Property & Equipment (net) declined to $23.50B in FY2024 from $26.82B in FY2023, signaling a reduction in the physical asset base.
  • Working capital appears negative — Current assets ($22.999B) are well below current liabilities ($33.066B) in FY2024, implying negative working capital and tighter near-term liquidity.
  • Very large goodwill levels imply impairment risk — Goodwill remains exceptionally high (FY2024: $110.48B), which can pose impairment risk if brand/value dynamics deteriorate or macro conditions worsen.
05/07/26 04:31 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Anheuser-Busch InBev SA/NV's Financials

When does Anheuser-Busch InBev SA/NV's fiscal year end?

According to the most recent income statement we have on file, Anheuser-Busch InBev SA/NV's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Anheuser-Busch InBev SA/NV's net income changed over the last 10 years?

Anheuser-Busch InBev SA/NV's net income were at $8.48 billion at the end of 2025, a 14.3% increase from 2024, and a 14.1% decrease since 2015. View Anheuser-Busch InBev SA/NV's forecast to see where analysts expect Anheuser-Busch InBev SA/NV to go next.

What is Anheuser-Busch InBev SA/NV's operating income?
Anheuser-Busch InBev SA/NV's total operating income in 2025 was $15.41 billion, based on the following breakdown:
  • Total Gross Profit: $33.18 billion
  • Total Operating Expenses: $17.33 billion
How has Anheuser-Busch InBev SA/NV's revenue changed over the last 10 years?

Over the last 10 years, Anheuser-Busch InBev SA/NV's total revenue changed from $43.30 billion in 2015 to $59.32 billion in 2025, a change of 37.0%.

How much debt does Anheuser-Busch InBev SA/NV have?

Anheuser-Busch InBev SA/NV's total liabilities were at $48.04 billion at the end of 2025, a 5.0% increase from 2024, and a 86.1% decrease since 2016.

How much cash does Anheuser-Busch InBev SA/NV have?

In the past 9 years, Anheuser-Busch InBev SA/NV's cash and equivalents has ranged from $7.07 billion in 2018 to $15.25 billion in 2020, and is currently $11.64 billion as of their latest financial filing in 2025.

How has Anheuser-Busch InBev SA/NV's book value per share changed over the last 10 years?

Over the last 10 years, Anheuser-Busch InBev SA/NV's book value per share changed from 0.00 in 2015 to 38.76 in 2025, a change of 3,876.4%.



Financial statements for NYSE:BUD last updated on 3/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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