Anheuser-Busch InBev SA/NV (BUD) Fundamental Analysis: Bull vs. Bear Case

BUD

Anheuser-Busch InBev SA/NV

Fundamental data last updated:September 4, 2026

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company profile

SECTOR

Consumer Defensive

industry

Beverages - Alcoholic

Exchange

NYSE

County of HQ

BE

Next Earnings Date

Pending Announcement

Business Summary

Anheuser-Busch InBev SA/NV engages in the production, distribution, and sale of beer, alcoholic beverages, and soft drinks worldwide. It offers a portfolio of approximately 500 beer brands, which primarily include Budweiser, Corona, and Stella Artois; Beck's, Hoegaarden, Leffe, and Michelob Ultra; and Aguila, Antarctica, Bud Light, Brahma, Cass, Castle, Castle Lite, Cristal, Harbin, Jupiler, Modelo Especial, Quilmes, Victoria, Sedrin, and Skol brands. The company was founded in 1366 and is headquartered in Leuven, Belgium.

VALUATION

P/E

22.00 Market Cap ($M USD)

$156.12B

Forward P/E

11.08 PEG

0.11 PRICE TO SALES

2.56 PRICE TO BOOK

1.82 EV / EBITDA

13.56 5-Year Average P/E

Free Cash Flow Yield

7.49%

DCF Value

$86.50

Graham Number

$60.34

Price to FCF

13.35 EV to FCF

18.60 Earnings Yield

4.55%

FCF Yield

7.49%

DIVIDEND

Yield

1.67%

Annual Payout

$1.34

Payout Ratio

65.20%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$3.67

Next Year EPS Growth Estimate

$7.28

Next Year Revenue Growth Estimate

$77.29B

Return on Equity (ROE)

8.66%

FREE CASH FLOW

Operating Margin

26.81%

Debt-to-Equity

0.84 Piotroski F-Score

8 Altman Z-Score

2.07 Return on Invested Capital (ROIC)

8.86%

Current Ratio

0.72 Quick Ratio

0.57 Net Debt to EBITDA

3.83 Interest Coverage

4.41 Gross Profit margin

56.17%

FCF PER SHARE

$5.91

REVENUE PER SHARE

$30.82

Gainseekers Quantitative Analysis

Summary

The market seems to be undervaluing Anheuser-Busch InBev SA/NV. With a DCF value slightly above its snapshot price, there’s a hint of mispricing. The Forward P/E suggests significant earnings growth potential, while the low Earnings Yield indicates a premium valuation. However, the Altman Z-score reflects moderate financial distress, hinting at some underlying risks. Overall, the stock presents a mixed bag of opportunity and caution.

AI Exposure / Tech Reliance

In the alcoholic beverages industry, AI and tech shifts are less disruptive compared to other sectors. Anheuser-Busch's focus remains on brand strength and distribution efficiency rather than tech innovation. However, leveraging AI for supply chain optimization could enhance operational resilience.

The Bull Case

For the value-driven investor, Anheuser-Busch offers compelling reasons to buy. A robust ROIC of 8.86% and a high Piotroski F-Score of 8 indicate strong operational efficiency and financial health. The company's FCF Yield, though modest, combined with an impressive operating margin of 26.81%, showcases its pricing power and ability to generate cash. These metrics suggest a well-managed company with a solid foundation for growth.

The Bear Case

Despite its strengths, Anheuser-Busch faces structural challenges. The Price/Book and Price/Sales ratios suggest the stock is not cheap, potentially overvalued relative to its assets and revenue. The Current and Quick Ratios indicate liquidity concerns, with the company struggling to cover short-term obligations. Additionally, trading close to its 52-week high raises questions about its technical overextension.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$89.00

Institutional Ownership %

1-Year Beta

0.79 Insider Buying % (6 Mo)

Distance to 52-Week High

4.72%

Distance to 52-Week Low

29.36%

EARNINGS SURPRISE %

7.78%

50-DAY SMA

$75.40

200-DAY SMA

$67.88

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.