Anheuser-Busch InBev
BUD Β· Distillers & Vintners
$84.26
οΏ½οΏ½Boston Beer
SAM Β· Distillers & Vintners
$202.28
3.4%The short version
- Anheuser-Busch InBev is the larger business, with $59.3B of revenue in fiscal 2025 against $2.0B for Boston Beer, about 30 times as much.
- Anheuser-Busch InBev grew revenue faster (β0.8%, against β2.4%).
- Anheuser-Busch InBev kept more of each dollar of sales as operating profit (26.0% operating margin, against 7.4% operating margin).
- Anheuser-Busch InBev turned more of its sales into free cash flow (18.9% FCF margin, against 11.0% FCF margin).
| Latest fiscal year | BUD Β· FY25 | SAM Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | β | $2.1B |
| Revenue | $59.3B | $2.0B |
| Free cash flow | $11.2B | $216M |
| Net income | $6.8B | $109M |
| Growth | ||
| Revenue growth | β0.8% | β2.4% |
| 5-year growth | 4.8% | 2.5% |
| Share count change | β | β7.1% |
| Profitability | ||
| Gross margin | 55.9% | 48.5% |
| Operating margin | 26.0% | 7.4% |
| Net margin | 11.5% | 5.5% |
| FCF margin | 18.9% | 11.0% |
| Return on capital | β | 15.4% |
| Return on equity | 8.3% | 12.3% |
| Balance sheet | ||
| Net debt | β | β$222M |
| Net debt / EBITDA | β | β0.9x |
| Dividends and buybacks | $6.8B | $202M |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | β | 7 |
FY16
BUD $45.5B
SAM $906M
FY17
BUD $54.9B
SAM $863M
FY18
BUD $53.0B
SAM $996M
FY19
BUD $52.3B
SAM $1.2B
FY20
BUD $46.9B
SAM $1.7B
FY21
BUD $54.3B
SAM $2.1B
FY22
BUD $57.8B
SAM $2.1B
FY23
BUD $59.4B
SAM $2.0B
FY24
BUD $59.8B
SAM $2.0B
FY25
BUD $59.3B
SAM $2.0B
BUD
SAM
FY16
BUD 28.3%
SAM 15.2%
FY17
BUD 30.0%
SAM 13.4%
FY18
BUD 31.0%
SAM 11.6%
FY19
BUD 30.8%
SAM 11.6%
FY20
BUD 20.5%
SAM 14.1%
FY21
BUD 25.5%
SAM 0.4%
FY22
BUD 25.1%
SAM 4.3%
FY23
BUD 23.5%
SAM 5.0%
FY24
BUD 25.9%
SAM 3.8%
FY25
BUD 26.0%
SAM 7.4%
BUD
SAM
FY16
BUD $5.1B
SAM $104M
FY17
BUD $10.2B
SAM $103M
FY18
BUD $10.1B
SAM $108M
FY19
BUD $8.9B
SAM $85.0M
FY20
BUD $7.1B
SAM $113M
FY21
BUD $9.2B
SAM β$91.6M
FY22
BUD $8.1B
SAM $109M
FY23
BUD $8.6B
SAM $201M
FY24
BUD $11.2B
SAM $173M
FY25
BUD $11.2B
SAM $216M
BUD
SAM
FY16
BUD β
SAM 24.2%
FY17
BUD β
SAM 27.6%
FY18
BUD β
SAM 26.0%
FY19
BUD β
SAM 21.0%
FY20
BUD β
SAM 25.6%
FY21
BUD β
SAM 0.9%
FY22
BUD β
SAM 7.2%
FY23
BUD β
SAM 8.3%
FY24
BUD β
SAM 7.0%
FY25
BUD β
SAM 15.4%
BUD
SAM
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