Anheuser-Busch InBev SA/NV (BUD) Financial Ratios
23 years of historical data (2002–2024) · Consumer Defensive · Beverages - Alcoholic
EV/EBITDA
↓
9.51
↓-12% vs avg
5yr avg: 10.81
30Y Low7.8·High18.3
P/FCF
↓
12.41
↓-15% vs avg
5yr avg: 14.56
30Y Low9.1·High36.1
P/B Ratio
↓
1.86
↑+26% vs avg
5yr avg: 1.48
30Y Low1.2·High4.5
ROE
↑
6.5%
↓+18% vs avg
5yr avg: 5.5%
30Y Low2%·High29%
Debt/EBITDA
↓
3.43
↓-26% vs avg
5yr avg: 4.62
30Y Low1.3·High8.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BUD Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Anheuser-Busch InBev SA/NV trades at 28.2x earnings, 25% below its 5-year average of 37.9x, sitting at the 81st percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 18.8x, the stock trades at a premium of 50%. On a free-cash-flow basis, the stock trades at 12.4x P/FCF, 15% below the 5-year average of 14.6x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $138.9B | $102.3B | $132.7B | $123.1B | $123.8B | $139.7B | $166.2B | $132.3B | $224.2B | $185.0B | $205.1B |
| Enterprise Value | $199.9B | $163.3B | $200.6B | $193.2B | $200.6B | $223.1B | $262.0B | $235.2B | $330.3B | $299.2B | $247.7B |
| P/E Ratio → | 28.23 | 17.51 | 24.85 | 20.63 | 26.56 | 99.87 | 18.11 | 30.33 | 28.03 | 148.51 | 21.40 |
| P/S Ratio | 2.32 | 1.71 | 2.24 | 2.13 | 2.28 | 2.98 | 3.18 | 2.50 | 4.09 | 4.07 | 4.70 |
| P/B Ratio | 1.86 | 1.15 | 1.43 | 1.46 | 1.56 | 1.78 | 1.97 | 1.84 | 2.80 | 2.27 | 4.49 |
| P/FCF | 12.41 | 9.14 | 15.39 | 15.12 | 13.52 | 19.65 | 20.22 | 13.82 | 20.98 | 36.06 | 21.89 |
| P/OCF | 9.23 | 6.80 | 10.01 | 9.26 | 8.37 | 12.83 | 12.41 | 9.03 | 14.53 | 18.30 | 14.53 |
P/E links to full P/E history page with 30-year chart
BUD EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Anheuser-Busch InBev SA/NV's enterprise value stands at 9.5x EBITDA, 12% below its 5-year average of 10.8x. The Consumer Defensive sector median is 11.0x, placing the stock at a 14% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.73 | 3.38 | 3.34 | 3.69 | 4.76 | 5.01 | 4.43 | 6.02 | 6.57 | 5.68 |
| EV / EBITDA | 9.51 | 7.77 | 10.35 | 9.86 | 10.63 | 15.44 | 12.62 | 11.18 | 15.66 | 18.29 | 16.64 |
| EV / EBIT | 12.91 | 11.07 | 14.69 | 13.89 | 15.75 | 33.15 | 14.83 | 13.83 | 21.45 | 32.61 | 16.64 |
| EV / FCF | — | 14.59 | 23.25 | 23.74 | 21.91 | 31.38 | 31.87 | 24.56 | 30.90 | 58.31 | 26.43 |
BUD Profitability
Margins and return-on-capital ratios measuring operating efficiency
Anheuser-Busch InBev SA/NV earns an operating margin of 25.9%, significantly above the Consumer Defensive sector average of 3.5%. ROE of 6.5% is modest, trailing the sector median of 6.5%. ROIC of 7.5% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 55.3% | 55.3% | 53.9% | 54.5% | 57.5% | 58.1% | 61.1% | 62.4% | 61.8% | 60.9% | 60.7% |
| Operating Margin | 25.9% | 25.9% | 23.5% | 25.1% | 25.5% | 20.5% | 30.8% | 30.9% | 30.0% | 28.3% | 30.7% |
| Net Profit Margin | 9.8% | 9.8% | 9.0% | 10.3% | 8.6% | 3.0% | 17.5% | 8.2% | 14.6% | 2.7% | 19.0% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.5% | 6.5% | 6.0% | 7.3% | 5.9% | 1.7% | 11.7% | 5.7% | 9.9% | 2.0% | 16.5% |
| ROA | 2.7% | 2.7% | 2.5% | 2.8% | 2.1% | 0.6% | 3.9% | 1.8% | 3.2% | 0.6% | 6.0% |
| ROIC | 7.5% | 7.5% | 6.7% | 7.0% | 6.5% | 4.2% | 6.8% | 6.8% | 6.5% | 6.8% | 10.8% |
| ROCE | 8.7% | 8.7% | 7.7% | 8.0% | 7.3% | 4.9% | 8.1% | 8.1% | 7.7% | 7.9% | 12.1% |
BUD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Anheuser-Busch InBev SA/NV carries a Debt/EBITDA ratio of 3.4x, which is moderately leveraged (roughly in line with the sector average of 3.5x). Net debt stands at $61.0B ($72.2B total debt minus $11.2B cash). Interest coverage of 3.5x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.81 | 0.81 | 0.84 | 0.95 | 1.12 | 1.26 | 1.22 | 1.53 | 1.45 | 1.51 | 1.08 |
| Debt / EBITDA | 3.43 | 3.43 | 4.03 | 4.08 | 4.71 | 6.82 | 4.96 | 5.22 | 5.53 | 7.50 | 3.32 |
| Net Debt / Equity | — | 0.69 | 0.73 | 0.83 | 0.97 | 1.06 | 1.13 | 1.43 | 1.32 | 1.40 | 0.93 |
| Net Debt / EBITDA | 2.90 | 2.90 | 3.50 | 3.58 | 4.07 | 5.77 | 4.62 | 4.89 | 5.03 | 6.98 | 2.86 |
| Debt / FCF | — | 5.45 | 7.86 | 8.61 | 8.39 | 11.73 | 11.65 | 10.74 | 9.92 | 22.25 | 4.54 |
| Interest Coverage | 3.47 | 3.47 | 2.93 | 3.15 | 3.15 | 2.03 | 3.20 | 3.37 | 3.23 | 2.66 | 6.01 |
BUD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.70x is below 1.0, meaning current liabilities exceed current assets — though the company's $11.2B cash position helps mitigate short-term liquidity concerns.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.70 | 0.70 | 0.63 | 0.67 | 0.70 | 0.82 | 0.83 | 0.53 | 0.66 | 1.07 | 0.64 |
| Quick Ratio | 0.54 | 0.54 | 0.48 | 0.48 | 0.54 | 0.68 | 0.70 | 0.41 | 0.55 | 0.98 | 0.55 |
| Cash Ratio | 0.34 | 0.34 | 0.28 | 0.29 | 0.36 | 0.48 | 0.21 | 0.21 | 0.33 | 0.35 | 0.25 |
| Asset Turnover | — | 0.29 | 0.27 | 0.27 | 0.25 | 0.21 | 0.22 | 0.23 | 0.22 | 0.18 | 0.32 |
| Inventory Turnover | 5.33 | 5.33 | 4.91 | 3.98 | 4.28 | 4.47 | 4.71 | 4.85 | 5.22 | 4.66 | 6.21 |
| Days Sales Outstanding | — | 33.62 | 27.15 | 23.41 | 23.96 | 26.48 | 29.06 | 44.75 | 32.72 | 57.63 | 27.61 |
BUD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Anheuser-Busch InBev SA/NV returns 2.3% to shareholders annually — split between a 1.6% dividend yield and 0.7% buyback yield. A payout ratio of 45.6% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 3.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.6% | 2.6% | 2.3% | 2.0% | 1.9% | 1.3% | 3.0% | 5.9% | 4.1% | 4.6% | 3.9% |
| Payout Ratio | 45.6% | 45.6% | 56.4% | 40.9% | 50.6% | 128.1% | 54.7% | 177.6% | 116.1% | 680.9% | 96.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.5% | 5.7% | 4.0% | 4.8% | 3.8% | 1.0% | 5.5% | 3.3% | 3.6% | 0.7% | 4.7% |
| FCF Yield | 8.1% | 10.9% | 6.5% | 6.6% | 7.4% | 5.1% | 4.9% | 7.2% | 4.8% | 2.8% | 4.6% |
| Buyback Yield | 0.7% | 0.9% | 0.3% | 0.0% | 0.0% | 5.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.5% |
| Total Shareholder Yield | 2.3% | 3.5% | 2.5% | 2.0% | 1.9% | 7.0% | 3.0% | 5.9% | 4.1% | 4.6% | 4.4% |
| Shares Outstanding | — | $2.0B | $2.1B | $2.0B | $2.0B | $2.0B | $2.0B | $2.0B | $2.0B | $1.8B | $1.6B |
Peer Comparison
Compare BUD with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BUDYou | $139B | 28.2 | 9.5 | 12.4 | 55.3% | 25.9% | 6.5% | 7.5% | 3.4 |
 TAP | $7B | -3.6 | — | 6.9 | 37.6% | -21.0% | -17.8% | -10.1% | — |
 SAM | $2B | 17.8 | 7.2 | 8.8 | 45.6% | 6.9% | 12.3% | 15.5% | 0.2 |
 ABEV | $49B | 16.3 | 8.2 | 12.7 | 51.4% | 25.3% | 16.5% | 22.3% | 0.2 |
 STZ | $24B | -313.7 | 9.0 | 12.6 | 51.0% | 35.5% | -0.9% | 13.0% | 3.0 |
 DEO | $45B | 19.0 | 11.1 | 16.7 | 60.1% | 21.4% | 18.6% | 9.6% | 4.0 |
 MGPI | $351M | -3.3 | — | 4.6 | 37.2% | -17.6% | -13.9% | -6.7% | — |
 CCK | $11B | 15.9 | 8.0 | 10.4 | 18.3% | 13.2% | 21.9% | 14.1% | 3.0 |
 SEE | $6B | 12.3 | 14.3 | 13.5 | 29.8% | 13.5% | 54.3% | 11.2% | 5.9 |
 ADM | $36B | 33.7 | 16.7 | 8.6 | 6.3% | 1.8% | 4.7% | 3.3% | 3.2 |
 INGR | $6B | 8.8 | 5.5 | 12.1 | 25.3% | 14.4% | 17.7% | 15.5% | 1.4 |
| Consumer Defensive Median | — | 18.8 | 11.0 | 15.3 | 40.8% | 3.5% | 6.5% | 5.7% | 3.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 23 years · Updated daily
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BUD — Frequently Asked Questions
Quick answers to the most common questions about buying BUD stock.
What is Anheuser-Busch InBev SA/NV's P/E ratio?
Anheuser-Busch InBev SA/NV's current P/E ratio is 28.2x. The historical average is 34.1x. This places it at the 81th percentile of its historical range.
What is Anheuser-Busch InBev SA/NV's EV/EBITDA?
Anheuser-Busch InBev SA/NV's current EV/EBITDA is 9.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.8x.
What is Anheuser-Busch InBev SA/NV's ROE?
Anheuser-Busch InBev SA/NV's return on equity (ROE) is 6.5%. The historical average is 11.7%.
Is BUD stock overvalued?
Based on historical data, Anheuser-Busch InBev SA/NV is trading at a P/E of 28.2x. This is at the 81th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Anheuser-Busch InBev SA/NV's dividend yield?
Anheuser-Busch InBev SA/NV's current dividend yield is 1.62% with a payout ratio of 45.6%.
What are Anheuser-Busch InBev SA/NV's profit margins?
Anheuser-Busch InBev SA/NV has 55.3% gross margin and 25.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Anheuser-Busch InBev SA/NV have?
Anheuser-Busch InBev SA/NV's Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.