Anheuser-Busch InBev (ADR)
Brews global and local beer brands through an acquisition-built international distribution network.
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Profile
Brews and distributes Budweiser, Corona, Stella Artois, and locally established beer brands across international markets, supported by retailer and direct-to-consumer platforms. The acquisition-built portfolio pairs local distribution scale with selected premium brands expanded across borders, while regulation, distributor relationships, brand relevance, and debt reduction shape execution.
Brews and distributes beer through global brands Budweiser, Corona, and Stella Artois, international labels such as Beck's, Leffe, and Hoegaarden, and local champions across numerous markets. Digital channels include the BEES retailer platform and direct-to-consumer services Zé Delivery, TaDa Delivery, and PerfectDraft.
Combines locally established brands and distribution systems with selected premium labels expanded across borders. The portfolio was assembled through successive combinations spanning Belgian, Brazilian, U.S., Mexican, and SABMiller lineages, giving the group broad international reach.
Relies on local brand relevance, distributor relationships, disciplined costs, and cross-market execution. Antitrust remedies removed MillerCoors and multiple European businesses from the SABMiller perimeter, while acquisition financing left debt reduction as a continuing capital priority. The Bud Light backlash also showed that individual brands can retain material local-market exposure inside a geographically diversified portfolio.
Company facts
Categories
Key statistics
Year to date +25.8% · Average volume (30d) 1.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 31, 2026 | Wells Fargo | Reiterate | Overweight | $85 | $97 | |
| Jul 27, 2026 | Barclays | Downgrade | Overweight | Equal Weight | ||
| Jul 1, 2026 | Morgan Stanley | Target | $82 | $84.50 | ||
| Apr 8, 2026 | Morgan Stanley | Target | $63 | $82 | ||
| Feb 13, 2026 | Evercore ISI | Target | $100 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $1.09 | $1.21 | +11.0% | $16.23B | $31.93B | +96.7% | +1.50% |
| May 5, 2026 | $0.90 | $0.97 | +7.8% | $14.69B | $30.61B | +108.4% | +2.14% |
| Oct 30, 2025 | $0.97 | $0.99 | +2.1% | $15.60B | $30.01B | +92.4% | +1.48% |
| Jul 31, 2025Q2 FY25 | $0.94 | $0.98 | +4.3% | $15.67B | — | — | −0.99% |
Financial highlights
| 12 quarters | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $30.05B | $29.88B | $29.89B | $30.01B | $30.61B | $31.93B | |
| Gross profit | $16.19B | $16.46B | $16.56B | $16.89B | $17.10B | $18.23B | |
| Operating income | $7.52B | $7.55B | $7.94B | $15.01B | $7.81B | $8.69B | |
| Net income | $3.36B | $2.56B | $3.29B | $3.35B | $3.01B | $6.31B | |
| Diluted EPS | $1.67 | $1.27 | $1.64 | $1.68 | $1.52 | $3.19 | |
| Gross margin | 53.9% | 55.1% | 55.4% | 56.3% | 55.9% | 57.1% | |
| Operating margin | 25.0% | 25.3% | 26.6% | 50.0% | 25.5% | 27.2% |
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $7.91B · Total debt $72.32B · Total assets $218.39B · Shareholders' equity $93.50B
Dividends
Raised for 3 straight years — most recently to $1.1749 from $0.1728 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| May 8, 2026 | May 8 | Jun 5 | $1.1749 | raised from $0.1728 |
| Nov 19, 2025 | Nov 19 | Dec 17 | $0.1728 | cut from $1.1282 |
| May 7, 2025 | May 7 | Jun 6 | $1.1282 | raised from $0.8802 |
| May 3, 2024 | May 6 | Jun 7 | $0.8802 | raised from $0.8245 |
| May 3, 2023 | May 4 | Jun 14 | $0.8245 | raised from $0.5276 |
| May 3, 2022 | May 4 | Jun 2 | $0.5276 |
Ownership
Shares outstanding 1.97B · Float 1.75B · 88.8% free float
Insiders — no current Form 4 position.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Jorge Paulo Lemann | 1.03B | 52.30% | 13D | May 15, 2026 |
| Altria Group, Inc. | 1.02B | 51.90% | 13D | Feb 7, 2025 |
| Dodge & Cox | 29.48M | 1.50% | 13F | Aug 13, 2026 |
| Fisher Asset Management, LLC | 12.45M | 0.63% | 13F | Aug 4, 2026 |
| Morgan Stanley | 3.96M | 0.20% | 13F | Aug 13, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Constellation Brands
Direct U.S. beer rival led by Modelo, Corona, and Pacifico
- Molson Coors Class B
Major North American lager rival with additional European overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Anheuser-Busch InBev (ADR) | $80.25 | +0.12% | $157.81B | 13.5 | — | 2.0 | — |
| Constellation Brands | $130.80 | +0.08% | $22.32B | 12.5 | 11.0 | 2.5 | −3.3% |
| Molson Coors Class B | $41.46 | −0.06% | $7.78B | — | 8.7 | 0.7 | −3.3% |
| Median | 12.5 | 9.9 | 1.6 | −3.3% |