BUD
Anheuser Busch Inbev NV ADR
NYSE: BUD · CONSUMER DEFENSIVE · BEVERAGES - BREWERS
$75.55
+3.76% today
Updated 2026-04-30
Market cap
$140.73B
P/E ratio
21.41
P/S ratio
2.37x
EPS (TTM)
$3.39
Dividend yield
1.79%
52W range
$57 – $82
Volume
2.0M
Anheuser Busch Inbev NV ADR (BUD) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.56B | $19.73B | $23.51B | $36.76B | $36.30B | $39.05B | $39.76B | $43.20B | $47.06B | $43.60B | $45.52B | $54.86B | $53.04B | $52.33B | $46.88B | $54.30B | $57.79B | $59.38B | $59.77B | $59.50B |
| Revenue growth (YoY) | — | +12.4% | +19.1% | +56.4% | -1.3% | +7.6% | +1.8% | +8.6% | +9.0% | -7.3% | +4.4% | +20.5% | -3.3% | -1.3% | -10.4% | +15.8% | +6.4% | +2.8% | +0.7% | -0.4% |
| Cost of revenue | $7.23B | $8.12B | $10.34B | $17.20B | $16.15B | $16.61B | $16.42B | $17.59B | $18.76B | $17.14B | $17.80B | $20.98B | $19.93B | $20.36B | $19.63B | $23.10B | $26.30B | $27.40B | $26.74B | $26.22B |
| Gross profit | $10.34B | $11.62B | $13.17B | $19.56B | $20.15B | $22.44B | $23.34B | $25.60B | $28.31B | $26.47B | $27.71B | $33.88B | $33.11B | $31.97B | $27.25B | $31.21B | $31.48B | $31.98B | $33.02B | $33.28B |
| Gross margin | 58.8% | 58.9% | 56.0% | 53.2% | 55.5% | 57.5% | 58.7% | 59.3% | 60.1% | 60.7% | 60.9% | 61.8% | 62.4% | 61.1% | 58.1% | 57.5% | 54.5% | 53.9% | 55.3% | 55.9% |
| R&D | — | $27.00M | $75.00M | $159.00M | $184.00M | $175.00M | $182.00M | $185.00M | $217.00M | $207.00M | $244.00M | $276.00M | $276.00M | $291.00M | $296.00M | $298.00M | $268.00M | $256.00M | $222.00M | — |
| SG&A | $1.42B | $3.70B | $4.20B | $4.98B | $1.96B | $2.06B | $2.20B | $2.54B | $2.79B | $2.56B | $2.88B | $3.78B | $3.42B | $3.55B | $3.40B | $4.39B | $4.41B | $4.74B | $4.98B | $15.85B |
| Operating income | $4.13B | $5.87B | $5.34B | $10.25B | $10.90B | $12.35B | $12.75B | $20.44B | $15.11B | $13.39B | $12.88B | $16.46B | $16.41B | $16.10B | $9.62B | $13.82B | $14.52B | $13.97B | $15.49B | $15.09B |
| Operating margin | 23.5% | 29.8% | 22.7% | 27.9% | 30.0% | 31.6% | 32.1% | 47.3% | 32.1% | 30.7% | 28.3% | 30.0% | 30.9% | 30.8% | 20.5% | 25.5% | 25.1% | 23.5% | 25.9% | 25.4% |
| EBITDA | $5.79B | $7.44B | $7.60B | $13.07B | $13.66B | $15.48B | $16.19B | $24.04B | $19.61B | $14.88B | $12.65B | $20.02B | $21.63B | $22.33B | $11.56B | $17.79B | $18.98B | $19.07B | $20.30B | $20.76B |
| EBITDA margin | 33.0% | 37.7% | 32.3% | 35.5% | 37.6% | 39.6% | 40.7% | 55.7% | 41.7% | 34.1% | 27.8% | 36.5% | 40.8% | 42.7% | 24.7% | 32.8% | 32.8% | 32.1% | 34.0% | 34.9% |
| EBIT | $4.35B | $6.03B | $5.69B | $10.25B | $10.87B | $12.70B | $13.44B | $21.05B | $16.26B | $13.78B | $9.18B | $15.39B | $17.00B | $17.67B | $6.73B | $12.74B | $13.90B | $13.66B | $14.76B | $15.09B |
| Interest expense | $617.56M | $338.10M | $812.09M | $4.92B | $1.95B | $2.89B | $2.29B | $2.37B | $2.63B | $2.23B | $4.85B | $5.10B | $4.87B | $5.02B | $4.73B | $4.40B | $4.61B | $4.76B | $4.47B | $3.40B |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $2.81B | $3.00B | $1.93B | $4.61B | $4.03B | $5.78B | $7.16B | $14.39B | $9.22B | $8.27B | $1.24B | $7.99B | $4.37B | $9.17B | $1.41B | $4.67B | $5.97B | $5.34B | $5.86B | $6.86B |
| Net income growth (YoY) | — | +7.1% | -35.9% | +139.4% | -12.7% | +43.5% | +23.9% | +101.0% | -36.0% | -10.2% | -85.0% | +543.8% | -45.3% | +109.9% | -84.7% | +232.4% | +27.8% | -10.5% | +9.6% | +17.1% |
| Profit margin | 16.0% | 15.2% | 8.2% | 12.5% | 11.1% | 14.8% | 18.0% | 33.3% | 19.6% | 19.0% | 2.7% | 14.6% | 8.2% | 17.5% | 3.0% | 8.6% | 10.3% | 9.0% | 9.8% | 11.5% |