Anheuser-Busch InBev SA/NV (BUD) Key Metrics
BUD valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $162.63B
- Enterprise value
- $216.43B
- P/E (TTM)
- 17.8 10-yr median 25.7
- Forward P/E
- 15.6
- PEG ratio
- 1.58
- Price / sales
- 2.6 10-yr median 2.4
- Price / book
- 1.6 10-yr median 1.8
- EV / EBITDA
- 9.1 10-yr median 11.1
- Dividend yield
- 1.45% $1.35 a year
- Beta
- 0.78
BUD key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBUD valuation Price multiples at each fiscal year-end price.
BUD returns How much profit the business earns on the capital it uses.
BUD per-share figures Results divided by the shares outstanding at year-end.
BUD financial health Debt, liquidity and how easily interest is covered.
BUD efficiency & capital use Working capital cycle and where the cash goes.
BUD valuation history
BUD returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BUD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BUD cash returned to shareholders
BUD price vs earnings per share
BUD key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $127.06B | $102.34B | $132.73B | $123.08B | $123.82B | $139.68B | $166.21B | $132.34B | $224.24B | $185.05B |
| Enterprise value | $188.14B | $163.12B | $200.50B | $193.08B | $200.26B | $222.68B | $261.92B | $236.51B | $328.96B | $293.55B |
| P/E ratio | 18.6 | 17.5 | 24.9 | 20.6 | 26.5 | 99.4 | 18.1 | 30.3 | 28.1 | 149.1 |
| Price / sales | 2.1 | 1.7 | 2.2 | 2.1 | 2.3 | 3.0 | 3.2 | 2.5 | 4.1 | 4.1 |
| Price / book | 1.5 | 1.3 | 1.6 | 1.7 | 1.8 | 2.1 | 2.2 | 1.8 | 3.1 | 2.6 |
| Price / free cash flow | 11.3 | 9.2 | 15.4 | 15.1 | 13.5 | 15.2 | 20.2 | 15.3 | 20.8 | 36.1 |
| Price / operating cash flow | 8.5 | 6.8 | 10.0 | 9.3 | 8.4 | 10.0 | 12.4 | 9.7 | 14.4 | 18.3 |
| EV / sales | 3.2 | 2.7 | 3.4 | 3.3 | 3.7 | 4.7 | 5.0 | 4.5 | 6.0 | 6.4 |
| EV / EBITDA | 9.0 | 8.0 | 10.5 | 10.2 | 11.3 | 19.6 | 11.7 | 10.9 | 16.6 | 23.2 |
| EV / free cash flow | 16.7 | 14.6 | 23.2 | 23.7 | 21.9 | 24.3 | 31.9 | 27.3 | 30.5 | 57.3 |
| Earnings yield | 5.4% | 5.7% | 4.0% | 4.8% | 3.8% | 1.0% | 5.5% | 3.3% | 3.6% | 0.7% |
| Free cash flow yield | 8.9% | 10.9% | 6.5% | 6.6% | 7.4% | 6.6% | 4.9% | 6.5% | 4.8% | 2.8% |
| Dividend yield | 3.6% | 2.6% | 2.3% | 2.0% | 1.9% | 3.6% | 3.0% | 5.9% | 4.2% | 4.6% |
| Shareholder yield (dividends + buybacks) | 5.4% | 3.5% | 2.5% | 2.0% | 1.9% | 9.3% | 3.0% | 5.9% | 4.2% | 4.6% |
| Share price at fiscal year-end | $64.04 | $50.07 | $64.62 | $60.04 | $60.55 | $69.91 | $82.04 | $65.81 | $111.56 | $105.44 |
| Per share | ||||||||||
| Revenue per share | $29.90 | $29.24 | $28.91 | $28.19 | $26.55 | $23.46 | $25.83 | $26.38 | $27.29 | $25.94 |
| Earnings per share | $3.45 | $2.86 | $2.60 | $2.91 | $2.28 | $0.70 | $4.53 | $2.17 | $3.98 | $0.71 |
| Operating cash flow per share | $7.52 | $7.35 | $6.47 | $6.49 | $7.24 | $7.03 | $6.61 | $6.79 | $7.76 | $5.75 |
| Free cash flow per share | $5.68 | $5.47 | $4.21 | $3.97 | $4.48 | $4.60 | $4.06 | $4.30 | $5.37 | $2.92 |
| Cash per share | $6.02 | $5.57 | $5.06 | $4.88 | $6.06 | $7.79 | $3.62 | $3.56 | $5.86 | $8.11 |
| Book value per share | $44.00 | $38.28 | $39.85 | $35.80 | $33.58 | $34.05 | $37.38 | $35.76 | $36.11 | $40.65 |
| Tangible book value per share | −$36.60 | −$35.36 | −$37.24 | −$38.94 | −$42.82 | −$47.28 | −$46.81 | −$52.83 | −$56.83 | −$62.54 |
| Dividends per share | $2.30 | $1.30 | $1.47 | $1.19 | $1.16 | $2.51 | $2.48 | $3.86 | $4.66 | $4.80 |
| Capex per share | $1.85 | $1.89 | $2.26 | $2.52 | $2.76 | $2.43 | $2.55 | $2.49 | $2.38 | $2.83 |
| Debt per share | $36.81 | $35.31 | $38.06 | $39.02 | $43.44 | $49.33 | $50.86 | $55.36 | $57.96 | $69.94 |
| Shares outstanding | 1.98B | 2.04B | 2.05B | 2.05B | 2.04B | 2.00B | 2.03B | 2.01B | 2.01B | 1.75B |
| Change in shares outstanding | −2.9% | −0.5% | +0.2% | +0.2% | +2.4% | −1.4% | +0.7% | +0.0% | +14.5% | +6.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 8.3% | 7.3% | 6.9% | 8.4% | 6.8% | 2.0% | 12.4% | 6.0% | 11.1% | 2.2% |
| Return on invested capital (ROIC) | 8.2% | 7.5% | 7.2% | 8.0% | 6.7% | 3.0% | 7.2% | 6.2% | 7.7% | 6.1% |
| Return on assets (ROA) | 3.2% | 2.7% | 2.5% | 2.8% | 2.1% | 0.6% | 3.9% | 1.8% | 3.2% | 0.6% |
| Return on tangible assets | 11.6% | 10.4% | 8.8% | 10.0% | 7.6% | 2.2% | 13.9% | 8.1% | 13.5% | 1.6% |
| Free cash flow margin | 19.0% | 18.7% | 14.6% | 14.1% | 16.9% | 19.6% | 15.7% | 16.3% | 19.7% | 11.2% |
| Income quality (OCF / net income) | 2.18 | 2.57 | 2.49 | 2.23 | 3.17 | 9.99 | 1.46 | 3.12 | 1.95 | 8.13 |
| Financial health | ||||||||||
| Total debt | $73.03B | $72.17B | $78.17B | $79.99B | $88.83B | $98.56B | $103.04B | $111.33B | $116.50B | $122.74B |
| Cash & short-term investments | $11.94B | $11.39B | $10.40B | $10.00B | $12.39B | $15.56B | $7.33B | $7.16B | $11.78B | $14.24B |
| Net debt | $61.08B | $60.77B | $67.77B | $69.99B | $76.44B | $83.00B | $95.71B | $104.17B | $104.72B | $108.50B |
| Debt / equity | 0.84 | 0.92 | 0.96 | 1.09 | 1.29 | 1.45 | 1.36 | 1.55 | 1.61 | 1.72 |
| Debt / assets | 0.33 | 0.35 | 0.36 | 0.38 | 0.41 | 0.44 | 0.44 | 0.48 | 0.47 | 0.48 |
| Net debt / EBITDA | 2.93 | 2.99 | 3.55 | 3.69 | 4.30 | 7.31 | 4.29 | 4.82 | 5.29 | 8.58 |
| Current ratio | 0.72 | 0.70 | 0.63 | 0.67 | 0.70 | 0.82 | 0.83 | 0.53 | 0.66 | 1.07 |
| Quick ratio | 0.57 | 0.54 | 0.48 | 0.48 | 0.54 | 0.68 | 0.70 | 0.41 | 0.55 | 0.98 |
| Interest coverage | 4.1 | 3.5 | 2.9 | 3.1 | 3.1 | 2.0 | 3.2 | 3.4 | 3.2 | 2.7 |
| Working capital | −$9.71B | −$10.07B | −$13.79B | −$11.20B | −$10.23B | −$5.83B | −$6.03B | −$16.18B | −$12.25B | $2.94B |
| Invested capital | $148.37B | $139.01B | $149.62B | $143.39B | $145.11B | $151.03B | $171.43B | $176.07B | $177.31B | $179.84B |
| Tangible asset value | −$62.16B | −$61.81B | −$65.65B | −$68.94B | −$76.89B | −$84.15B | −$86.01B | −$106.24B | −$106.59B | −$99.68B |
| Net current asset value | −$96.30B | −$94.94B | −$103.30B | −$105.48B | −$114.34B | −$121.54B | −$123.28B | −$141.92B | −$141.95B | −$133.90B |
| Graham number | $58.41 | $49.67 | $48.28 | $48.43 | $41.54 | $23.21 | $61.70 | $41.81 | $56.83 | $25.43 |
| Graham net-net per share | −$51.30 | −$48.88 | −$53.63 | −$54.20 | −$58.93 | −$63.92 | −$68.84 | −$72.65 | −$73.85 | −$88.56 |
| Capital allocation | ||||||||||
| Dividends paid | $4.56B | $2.67B | $3.02B | $2.44B | $2.36B | $5.01B | $5.01B | $7.75B | $9.37B | $8.43B |
| Share buybacks (net) | $2.31B | $935.3M | $362.6M | $0 | $0 | $8.03B | $0 | $0 | $0 | $0 |
| Dividend payout ratio | 66.7% | 45.6% | 56.5% | 40.9% | 50.6% | 356.9% | 54.7% | 177.4% | 117.3% | 679.4% |
| Dividends + buybacks / free cash flow | 61.0% | 32.2% | 39.1% | 30.0% | 25.8% | 142.1% | 61.0% | 89.6% | 86.8% | 164.7% |
| Capex / revenue | 6.2% | 6.5% | 7.8% | 8.9% | 10.4% | 10.4% | 9.9% | 9.4% | 8.7% | 10.9% |
| Capex / operating cash flow | 24.6% | 25.7% | 35.0% | 38.8% | 38.1% | 34.6% | 38.6% | 36.6% | 30.7% | 49.2% |
| Capex / depreciation | 0.65 | 0.70 | 0.86 | 1.02 | 1.12 | 1.01 | 1.11 | 1.08 | 1.08 | 1.43 |
| Stock-based compensation / revenue | 1.1% | 1.1% | 1.0% | 0.8% | 0.9% | 0.4% | 0.6% | 0.6% | 0.6% | 0.5% |
| R&D / revenue | — | 0.4% | 0.4% | 0.5% | 0.5% | 0.6% | 0.6% | 0.5% | 0.5% | 0.5% |
| SG&A / revenue | 7.9% | 8.3% | 8.0% | 7.6% | 8.1% | 32.8% | 6.8% | 6.4% | 6.9% | 6.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 36.6 | 30.3 | 31.2 | 29.4 | 23.4 | 29.5 | 37.2 | 39.3 | 40.3 | 42.0 |
| Days of inventory on hand | 70.7 | 72.4 | 80.7 | 82.7 | 78.1 | 81.8 | 75.6 | 74.4 | 68.2 | 67.5 |
| Days payables outstanding | 230.8 | 230.2 | 241.9 | 252.5 | 266.3 | 295.3 | 281.3 | 281.6 | 255.0 | 263.3 |
| Cash conversion cycle (days) | -123.6 | -127.6 | -130.1 | -140.4 | -164.9 | -184.1 | -168.5 | -167.8 | -146.5 | -153.8 |
| Receivables turnover | 9.98 | 12.05 | 11.70 | 12.43 | 15.59 | 12.39 | 9.81 | 9.29 | 9.06 | 8.68 |
| Payables turnover | 1.58 | 1.59 | 1.51 | 1.45 | 1.37 | 1.24 | 1.30 | 1.30 | 1.43 | 1.39 |
| Inventory turnover | 5.16 | 5.04 | 4.53 | 4.41 | 4.68 | 4.46 | 4.83 | 4.90 | 5.35 | 5.41 |
| Asset turnover | 0.28 | 0.28 | 0.27 | 0.27 | 0.24 | 0.20 | 0.22 | 0.22 | 0.22 | 0.23 |
| Average receivables | $5.94B | $4.96B | $5.08B | $4.65B | $3.48B | $3.78B | $5.33B | $5.71B | $6.05B | $5.24B |
| Average payables | $16.53B | $16.87B | $18.16B | $18.20B | $16.85B | $15.89B | $15.69B | $15.38B | $14.66B | $12.84B |
| Average inventory | $5.06B | $5.30B | $6.05B | $5.96B | $4.94B | $4.40B | $4.22B | $4.06B | $3.92B | $3.29B |
| Intangibles / total assets | 73.1% | 72.8% | 72.2% | 72.0% | 71.8% | 71.8% | 72.1% | 76.8% | 75.9% | 70.1% |
Computed from BUD's annual financial statements (latest annual report filed March 3, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BUD valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Anheuser-Busch InBev SA/NV traded at 18.6 times earnings, against a 10-year median of 25.7. Based on the latest twelve months, the trailing P/E is 17.8 and the forward P/E is 15.6. Anheuser-Busch InBev SA/NV earned a return on equity of 8.3% and a return on invested capital of 8.2% in fiscal 2025. It ended the year with $73.0 billion of debt and $11.9 billion in cash and short-term investments, net debt of $61.1 billion. It returned $6.9 billion to shareholders: $4.6 billion in dividends and $2.3 billion in share buybacks, 61% of free cash flow. The share count rose 13.0% from 1.75B to 1.98B over 9 years.
See the BUD income statement, the BUD chart for price history, or the BUD stock overview for the latest quote and news.
BUD key metrics FAQ
What is Anheuser-Busch InBev SA/NV's P/E ratio?
Anheuser-Busch InBev SA/NV's trailing P/E ratio is 17.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 15.6. At the end of fiscal 2025 it was 18.6, compared with a 10-year median of 25.7.
What is Anheuser-Busch InBev SA/NV's EV/EBITDA?
Anheuser-Busch InBev SA/NV's enterprise value was 9.0 times EBITDA at the end of fiscal 2025 (enterprise value $188.1 billion, EBITDA $20.8 billion); the current EV/EBITDA is 9.1.
What is Anheuser-Busch InBev SA/NV's return on equity?
Anheuser-Busch InBev SA/NV's return on equity (ROE) was 8.3% in fiscal 2025: net income of $6.8 billion on average shareholders' equity of $82.8 billion.
What is Anheuser-Busch InBev SA/NV's ROIC?
Anheuser-Busch InBev SA/NV's return on invested capital was 8.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Anheuser-Busch InBev SA/NV have?
Anheuser-Busch InBev SA/NV had total debt of $73.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.84 and $61.1 billion of net debt (2.93 times EBITDA).
What is Anheuser-Busch InBev SA/NV's dividend yield?
Anheuser-Busch InBev SA/NV's forward dividend yield is 1.45%. Anheuser-Busch InBev SA/NV paid $4.6 billion in dividends in fiscal 2025 ($2.30 per share), a payout ratio of 66.7%.
Does Anheuser-Busch InBev SA/NV buy back its shares?
Yes. Anheuser-Busch InBev SA/NV spent $2.3 billion on net share repurchases in fiscal 2025 Shares outstanding changed −2.9% over the year, to 1.98B..
What is Anheuser-Busch InBev SA/NV's free cash flow yield?
Anheuser-Busch InBev SA/NV generated $11.3 billion of free cash flow in fiscal 2025, a free cash flow yield of 8.9% on its market value at year-end ($127.1 billion).
What is Anheuser-Busch InBev SA/NV's current ratio?
Anheuser-Busch InBev SA/NV's current ratio was 0.72 at the end of fiscal 2025: current assets were 0.72 times current liabilities.