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Anheuser Busch Inbev NV ADR (BUD) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

CONSUMER DEFENSIVE · BEVERAGES - BREWERS · DATA UPDATED 2026-07-19

Anheuser Busch Inbev NV ADR (BUD) operates in the BEVERAGES - BREWERS industry and is headquartered in Leuven, Belgium with about 137,000 employees. Its market capitalization is roughly $158 billion. In the fiscal year ended 2025-12-31, BUD reported $59.3B in revenue and $6.8B in net income.

Anheuser-Busch InBev SA/NV produces and sells beer in North America, Middle Americas, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through North America, Middle Americas, South America, EMEA, Asia Pacific, and Global Export and Holding Companies segments.

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BUD Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$91.0B	$59.3B	$59.8B	$59.4B	$57.8B	$54.3B	$46.9B	$52.3B	$53.0B	$54.9B	$45.5B	$43.6B	$47.1B	$43.2B	$39.8B	$39.0B	$36.3B	$36.8B	$23.5B	$19.7B	$17.6B
Gross Profit	$51.2B	$33.2B	$33.0B	$32.0B	$31.5B	$31.2B	$27.2B	$32.0B	$33.1B	$33.9B	$27.7B	$26.5B	$28.3B	$25.6B	$23.3B	$22.4B	$20.1B	$19.6B	$13.2B	$11.6B	$10.3B
Gross Margin %	56.2%	55.9%	55.2%	53.9%	54.5%	57.5%	58.1%	61.1%	62.4%	61.8%	60.9%	60.7%	60.2%	59.3%	58.7%	57.5%	55.5%	53.2%	56.0%	58.9%	58.8%
Operating Income (EBIT)	$31.1B	$15.7B	$15.5B	$14.0B	$14.5B	$13.8B	$9.6B	$16.1B	$16.4B	$16.5B	$12.9B	$13.4B	$15.1B	$20.4B	$12.7B	$12.3B	$10.9B	$10.2B	$5.3B	$5.9B	$4.1B
Operating Margin %	34.2%	26.4%	25.9%	23.5%	25.1%	25.5%	20.5%	30.8%	30.9%	30.0%	28.3%	30.7%	32.1%	47.3%	32.1%	31.6%	30.0%	27.9%	22.7%	29.8%	23.5%
Net Income	$10.0B	$6.8B	$5.9B	$5.3B	$6.0B	$4.7B	$1.4B	$9.2B	$4.4B	$8.0B	$1.2B	$8.3B	$9.2B	$14.4B	$7.2B	$5.8B	$4.0B	$4.6B	$1.9B	$3.0B	$2.8B
Net Margin %	11.0%	11.5%	9.8%	9.0%	10.3%	8.6%	3.0%	17.5%	8.2%	14.6%	2.7%	19.0%	19.6%	33.3%	18.0%	14.8%	11.1%	12.6%	8.2%	15.2%	16.0%
EBITDA	$23.5B	$20.8B	$20.3B	$19.1B	$19.0B	$17.8B	$11.6B	$22.3B	$21.6B	$20.0B	$12.7B	$17.9B	$19.6B	$24.0B	$16.2B	$15.5B	$13.7B	$13.1B	$7.6B	$7.4B	$5.8B
Earnings Per Share (EPS)	$3.73	$3.45	$2.86	$2.60	$2.91	$2.28	$0.70	$4.53	$2.17	$3.98	$0.71	$5.04	$5.54	$8.72	$4.40	$3.58	$2.50	$2.91	$1.93	$3.06	$2.86
Shares Outstanding (M)	1,978M	1,984M	2,044M	2,054M	2,050M	2,045M	1,998M	2,026M	2,011M	2,010M	1,755M	1,641M	1,665M	1,650M	1,628M	1,614M	1,611M	1,585M	1,000M	981M	981M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

BUD Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$15.3B	$30.6B	$15.1B	$30.0B	$13.6B	$29.9B	$15.0B	$15.3B
Gross Profit	$8.6B	$17.1B	$8.5B	$16.9B	$7.6B	$16.6B	$8.4B	$16.5B
Gross Margin %	56.6%	55.9%	56.4%	56.3%	55.6%	55.4%	55.6%	107.4%
Operating Income (EBIT)	$4.1B	$7.8B	$4.2B	$15.0B	$3.5B	$7.9B	$4.1B	$3.9B
Operating Margin %	26.7%	25.5%	27.8%	50.0%	26.0%	26.6%	27.2%	25.5%
Net Income	$2.6B	$3.0B	$1.1B	$3.4B	$2.1B	$3.3B	$2.1B	$1.5B
Net Margin %	16.8%	9.8%	7.0%	11.2%	15.8%	11.0%	13.8%	9.6%
EBITDA	—	$10.7B	$3.2B	$9.7B	$3.6B	$11.0B	$4.2B	$9.4B
Earnings Per Share (EPS)	—	$1.52	$0.53	$1.68	$1.08	$1.64	$1.01	$0.72
Shares Outstanding (M)	—	1,978M	1,986M	1,994M	1,994M	2,003M	2,043M	2,043M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

BUD Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$14.8B	$14.9B	$15.0B	$13.3B	$13.3B	$14.8B	$14.0B	$13.4B	$13.7B	$15.6B	$10.1B	$14.1B	$14.1B	$13.9B	$13.3B	$12.6B	$9.9B	$9.2B	$6.1B	$5.6B	$4.1B
Capital Expenditures (CapEx)	$3.6B	$3.7B	$3.9B	$4.6B	$5.2B	$5.6B	$4.9B	$5.2B	$5.0B	$4.8B	$5.0B	$4.7B	$4.4B	$3.9B	$3.3B	$3.4B	$2.3B	$1.7B	$2.6B	$2.0B	$1.6B
Free Cash Flow (FCF)	$11.2B	$11.3B	$11.2B	$8.6B	$8.1B	$9.2B	$9.2B	$8.2B	$8.7B	$10.8B	$5.1B	$9.3B	$9.7B	$10.0B	$10.1B	$9.2B	$7.6B	$7.4B	$3.5B	$3.5B	$2.5B
FCF Margin %	12.3%	19.0%	18.7%	14.5%	14.1%	16.9%	19.6%	15.7%	16.3%	19.7%	11.2%	21.4%	20.6%	23.2%	25.3%	23.5%	20.8%	20.2%	14.9%	17.9%	14.4%
Dividends Paid	$4.5B	$4.6B	$2.7B	$3.0B	$2.4B	$2.4B	$5.0B	$5.0B	$7.8B	$9.4B	$8.4B	$7.9B	$7.4B	$6.3B	$3.7B	$3.1B	$1.9B	$1.3B	$3.1B	$1.1B	$774M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

BUD Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2025-12-31	2025-06-30	2024-12-31	2024-06-30
Cash from Operations (CFO)	$12.1B	$2.7B	$12.5B	$2.6B
Capital Expenditures (CapEx)	$2.2B	$1.4B	$2.1B	$1.7B
Free Cash Flow (FCF)	$9.9B	$1.3B	$10.3B	$832M
FCF Margin %	32.3%	4.4%	34.6%	5.4%
Dividends Paid	$1.4B	$3.2B	$528M	$2.1B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

BUD Balance Sheet History

Balance sheet	2025-12-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$218.8B	$218.8B	$206.6B	$219.3B	$212.9B	$217.6B	$226.4B	$236.6B	$232.1B	$246.1B	$258.4B	$134.6B	$142.6B	$141.7B	$122.6B	$112.4B	$114.3B	$112.5B	$113.2B	$41.8B	$34.6B
Cash & Cash Equivalents	$11.6B	$11.6B	$11.2B	$10.3B	$9.9B	$12.0B	$15.2B	$7.2B	$7.1B	$10.5B	$8.6B	$6.9B	$8.4B	$9.8B	$7.1B	$5.3B	$4.5B	$3.7B	$2.9B	$1.9B	$826M
Total Liabilities	$121.1B	$121.1B	$117.9B	$126.7B	$128.7B	$138.3B	$148.1B	$152.1B	$160.2B	$165.9B	$177.0B	$88.9B	$88.3B	$86.4B	$77.2B	$71.4B	$75.5B	$79.4B	$88.7B	$20.1B	$16.1B
Total Debt (Short + Long-Term)	$71.3B	$71.3B	$70.4B	$78.2B	$78.2B	$87.0B	$97.0B	$101.4B	$109.8B	$117.3B	$122.5B	$49.6B	$51.1B	$49.1B	$44.3B	$40.2B	$44.9B	$49.1B	$60.1B	$9.8B	$1.7B
Total Shareholders' Equity	$87.3B	$87.3B	$78.2B	$81.8B	$73.4B	$68.7B	$68.0B	$75.7B	$71.9B	$72.6B	$71.3B	$42.1B	$50.0B	$50.4B	$41.1B	$37.5B	$35.3B	$30.3B	$22.4B	$21.7B	$15.0B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive BUD viewer.

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