ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) Stock Fundamental Analysis

EBR:ABI • BE0974293251

66.95 EUR
+0.03 (+0.04%)
Last: Feb 23, 2026, 12:35 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to ABI. ABI was compared to 30 industry peers in the Beverages industry. ABI has a medium profitability rating, but doesn't score so well on its financial health evaluation. ABI has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • ABI had positive earnings in the past year.
  • ABI had a positive operating cash flow in the past year.
  • Each year in the past 5 years ABI has been profitable.
  • Each year in the past 5 years ABI had a positive operating cash flow.
ABI.BR Yearly Net Income VS EBIT VS OCF VS FCFABI.BR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

1.2 Ratios

  • ABI has a Return On Assets (3.12%) which is comparable to the rest of the industry.
  • The Return On Equity of ABI (7.83%) is comparable to the rest of the industry.
  • Looking at the Return On Invested Capital, with a value of 6.24%, ABI is doing worse than 60.00% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for ABI is in line with the industry average of 7.64%.
  • The 3 year average ROIC (6.13%) for ABI is below the current ROIC(6.24%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.12%
ROE 7.83%
ROIC 6.24%
ROA(3y)2.8%
ROA(5y)2.67%
ROE(3y)7.28%
ROE(5y)7.36%
ROIC(3y)6.13%
ROIC(5y)5.97%
ABI.BR Yearly ROA, ROE, ROICABI.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

1.3 Margins

  • ABI's Profit Margin of 11.53% is fine compared to the rest of the industry. ABI outperforms 73.33% of its industry peers.
  • ABI's Profit Margin has improved in the last couple of years.
  • The Operating Margin of ABI (26.73%) is better than 83.33% of its industry peers.
  • In the last couple of years the Operating Margin of ABI has remained more or less at the same level.
  • ABI's Gross Margin of 55.93% is fine compared to the rest of the industry. ABI outperforms 66.67% of its industry peers.
  • In the last couple of years the Gross Margin of ABI has remained more or less at the same level.
Industry RankSector Rank
OM 26.73%
PM (TTM) 11.53%
GM 55.93%
OM growth 3Y1.96%
OM growth 5Y0.34%
PM growth 3Y3.72%
PM growth 5Y30.92%
GM growth 3Y0.88%
GM growth 5Y-0.76%
ABI.BR Yearly Profit, Operating, Gross MarginsABI.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ABI is destroying value.
  • The number of shares outstanding for ABI has been reduced compared to 1 year ago.
  • ABI has less shares outstanding than it did 5 years ago.
  • ABI has a better debt/assets ratio than last year.
ABI.BR Yearly Shares OutstandingABI.BR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
ABI.BR Yearly Total Debt VS Total AssetsABI.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B 200B 250B

2.2 Solvency

  • ABI has an Altman-Z score of 1.83. This is not the best score and indicates that ABI is in the grey zone with still only limited risk for bankruptcy at the moment.
  • With a Altman-Z score value of 1.83, ABI is not doing good in the industry: 73.33% of the companies in the same industry are doing better.
  • ABI has a debt to FCF ratio of 6.50. This is a slightly negative value and a sign of low solvency as ABI would need 6.50 years to pay back of all of its debts.
  • ABI has a Debt to FCF ratio of 6.50. This is in the better half of the industry: ABI outperforms 70.00% of its industry peers.
  • A Debt/Equity ratio of 0.83 indicates that ABI is somewhat dependend on debt financing.
  • ABI has a Debt to Equity ratio (0.83) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 6.5
Altman-Z 1.83
ROIC/WACC0.99
WACC6.33%
ABI.BR Yearly LT Debt VS Equity VS FCFABI.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B

2.3 Liquidity

  • A Current Ratio of 0.72 indicates that ABI may have some problems paying its short term obligations.
  • The Current ratio of ABI (0.72) is worse than 83.33% of its industry peers.
  • A Quick Ratio of 0.57 indicates that ABI may have some problems paying its short term obligations.
  • ABI has a worse Quick ratio (0.57) than 60.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.72
Quick Ratio 0.57
ABI.BR Yearly Current Assets VS Current LiabilitesABI.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • ABI shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 6.27%.
  • ABI shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 14.20% yearly.
  • ABI shows a decrease in Revenue. In the last year, the revenue decreased by -0.75%.
  • The Revenue has been growing slightly by 4.82% on average over the past years.
EPS 1Y (TTM)6.27%
EPS 3Y5.8%
EPS 5Y14.2%
EPS Q2Q%7.95%
Revenue 1Y (TTM)-0.75%
Revenue growth 3Y0.88%
Revenue growth 5Y4.82%
Sales Q2Q%4.81%

3.2 Future

  • Based on estimates for the next years, ABI will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.28% on average per year.
  • Based on estimates for the next years, ABI will show a small growth in Revenue. The Revenue will grow by 3.64% on average per year.
EPS Next Y14.37%
EPS Next 2Y13.69%
EPS Next 3Y11.67%
EPS Next 5Y11.28%
Revenue Next Year6.55%
Revenue Next 2Y5.16%
Revenue Next 3Y4.96%
Revenue Next 5Y3.64%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
ABI.BR Yearly Revenue VS EstimatesABI.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 20B 40B 60B
ABI.BR Yearly EPS VS EstimatesABI.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1 2 3 4 5

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4

4. Valuation

4.1 Price/Earnings Ratio

  • ABI is valuated rather expensively with a Price/Earnings ratio of 21.12.
  • ABI's Price/Earnings is on the same level as the industry average.
  • The average S&P500 Price/Earnings ratio is at 26.99. ABI is valued slightly cheaper when compared to this.
  • With a Price/Forward Earnings ratio of 18.47, ABI is valued on the expensive side.
  • ABI's Price/Forward Earnings ratio is in line with the industry average.
  • ABI is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 28.02, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 21.12
Fwd PE 18.47
ABI.BR Price Earnings VS Forward Price EarningsABI.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ABI indicates a somewhat cheap valuation: ABI is cheaper than 66.67% of the companies listed in the same industry.
  • ABI's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. ABI is cheaper than 73.33% of the companies in the same industry.
Industry RankSector Rank
P/FCF 13.64
EV/EBITDA 9.65
ABI.BR Per share dataABI.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • ABI has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.47
PEG (5Y)1.49
EPS Next 2Y13.69%
EPS Next 3Y11.67%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. Dividend

5.1 Amount

  • ABI does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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ANHEUSER-BUSCH INBEV SA/NV

EBR:ABI (2/23/2026, 12:35:54 PM)

66.95

+0.03 (+0.04%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)02-12
Earnings (Next)05-05
Inst Owners20.5%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap130.11B
Revenue(TTM)59.32B
Net Income(TTM)6.84B
Analysts83.13
Price Target69 (3.06%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly Dividend1.97
Dividend Growth(5Y)20.37%
DP66.45%
Div Incr Years3
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)4.18%
Min EPS beat(2)2.28%
Max EPS beat(2)6.07%
EPS beat(4)4
Avg EPS beat(4)4.38%
Min EPS beat(4)1.01%
Max EPS beat(4)8.16%
EPS beat(8)8
Avg EPS beat(8)7.33%
EPS beat(12)12
Avg EPS beat(12)5.97%
EPS beat(16)14
Avg EPS beat(16)6.5%
Revenue beat(2)0
Avg Revenue beat(2)-1.55%
Min Revenue beat(2)-1.88%
Max Revenue beat(2)-1.22%
Revenue beat(4)0
Avg Revenue beat(4)-2.12%
Min Revenue beat(4)-3.28%
Max Revenue beat(4)-1.22%
Revenue beat(8)2
Avg Revenue beat(8)-1.07%
Revenue beat(12)2
Avg Revenue beat(12)-1.73%
Revenue beat(16)4
Avg Revenue beat(16)-1.64%
PT rev (1m)0.48%
PT rev (3m)0.31%
EPS NQ rev (1m)3.54%
EPS NQ rev (3m)4.42%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.33%
Revenue NQ rev (1m)1.39%
Revenue NQ rev (3m)1.57%
Revenue NY rev (1m)0.66%
Revenue NY rev (3m)0.57%
Valuation
Industry RankSector Rank
PE 21.12
Fwd PE 18.47
P/S 2.58
P/FCF 13.64
P/OCF 10.29
P/B 1.75
P/tB N/A
EV/EBITDA 9.65
EPS(TTM)3.17
EY4.73%
EPS(NY)3.63
Fwd EY5.42%
FCF(TTM)4.91
FCFY7.33%
OCF(TTM)6.51
OCFY9.72%
SpS25.94
BVpS38.17
TBVpS-31.75
PEG (NY)1.47
PEG (5Y)1.49
Graham Number52.18
Profitability
Industry RankSector Rank
ROA 3.12%
ROE 7.83%
ROCE 8.6%
ROIC 6.24%
ROICexc 6.67%
ROICexgc 91.9%
OM 26.73%
PM (TTM) 11.53%
GM 55.93%
FCFM 18.93%
ROA(3y)2.8%
ROA(5y)2.67%
ROE(3y)7.28%
ROE(5y)7.36%
ROIC(3y)6.13%
ROIC(5y)5.97%
ROICexc(3y)6.54%
ROICexc(5y)6.37%
ROICexgc(3y)88.01%
ROICexgc(5y)80.35%
ROCE(3y)8.45%
ROCE(5y)8.23%
ROICexgc growth 3Y9.81%
ROICexgc growth 5Y12.22%
ROICexc growth 3Y2.06%
ROICexc growth 5Y6.07%
OM growth 3Y1.96%
OM growth 5Y0.34%
PM growth 3Y3.72%
PM growth 5Y30.92%
GM growth 3Y0.88%
GM growth 5Y-0.76%
F-Score8
Asset Turnover0.27
Health
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 6.5
Debt/EBITDA 3.35
Cap/Depr 64.69%
Cap/Sales 6.16%
Interest Coverage 4.74
Cash Conversion 69.2%
Profit Quality 164.21%
Current Ratio 0.72
Quick Ratio 0.57
Altman-Z 1.83
F-Score8
WACC6.33%
ROIC/WACC0.99
Cap/Depr(3y)73.36%
Cap/Depr(5y)86.67%
Cap/Sales(3y)6.81%
Cap/Sales(5y)7.95%
Profit Quality(3y)172.3%
Profit Quality(5y)169.87%
High Growth Momentum
Growth
EPS 1Y (TTM)6.27%
EPS 3Y5.8%
EPS 5Y14.2%
EPS Q2Q%7.95%
EPS Next Y14.37%
EPS Next 2Y13.69%
EPS Next 3Y11.67%
EPS Next 5Y11.28%
Revenue 1Y (TTM)-0.75%
Revenue growth 3Y0.88%
Revenue growth 5Y4.82%
Sales Q2Q%4.81%
Revenue Next Year6.55%
Revenue Next 2Y5.16%
Revenue Next 3Y4.96%
Revenue Next 5Y3.64%
EBIT growth 1Y2.54%
EBIT growth 3Y2.85%
EBIT growth 5Y5.18%
EBIT Next Year43.13%
EBIT Next 3Y16.59%
EBIT Next 5Y12.82%
FCF growth 1Y0.31%
FCF growth 3Y11.32%
FCF growth 5Y9.57%
OCF growth 1Y-1.14%
OCF growth 3Y3.82%
OCF growth 5Y6.44%

ANHEUSER-BUSCH INBEV SA/NV / ABI.BR FAQ

What is the ChartMill fundamental rating of ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) stock?

ChartMill assigns a fundamental rating of 4 / 10 to ABI.BR.


What is the valuation status of ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) stock?

ChartMill assigns a valuation rating of 4 / 10 to ANHEUSER-BUSCH INBEV SA/NV (ABI.BR). This can be considered as Fairly Valued.


Can you provide the profitability details for ANHEUSER-BUSCH INBEV SA/NV?

ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) has a profitability rating of 6 / 10.


What is the valuation of ANHEUSER-BUSCH INBEV SA/NV based on its PE and PB ratios?

The Price/Earnings (PE) ratio for ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) is 21.12 and the Price/Book (PB) ratio is 1.75.


How financially healthy is ANHEUSER-BUSCH INBEV SA/NV?

The financial health rating of ANHEUSER-BUSCH INBEV SA/NV (ABI.BR) is 3 / 10.