Anheuser-Busch InBev SA/NV (BUD) — Financial statements
Income statement, balance sheet, and cash flow for Anheuser-Busch InBev SA/NV — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 59,320↓0.7% | 59,768↑0.7% | 59,380↑2.8% | 57,786↑6.4% | 54,304 | |
| Cost of Revenue | 26,141↓2.3% | 26,744↓2.4% | 27,396↑4.1% | 26,305↑13.9% | 23,097 | |
| Gross Profit | 33,179↑0.5% | 33,024↑3.3% | 31,984↑1.6% | 31,481↑0.9% | 31,207 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 4,667↓6.3% | 4,983↑5.2% | 4,738↑7.3% | 4,414↑0.5% | 4,394 | |
| Selling & Marketing Expenses | 13,466↑0.8% | 13,357↓0.6% | 13,435↑2.2% | 13,141↓0.3% | 13,181 | |
| SG&A Expenses | 18,133↓1.1% | 18,340↑0.9% | 18,173↑3.5% | 17,555↓0.1% | 17,575 | |
| Other Expenses | -604↑24.8% | -803↓418.1% | -155↑73.8% | -591↓207.8% | -192 | |
| Operating Expenses | 17,529↓0.0% | 17,537↓2.7% | 18,018↑6.2% | 16,964↓2.4% | 17,383 | |
| Total Costs & Expenses | 43,670↓1.4% | 44,281↓2.5% | 45,414↑5.0% | 43,269↑6.9% | 40,480 | |
| Operating Results | ||||||
| Operating Income | 15,650↑1.1% | 15,487↑10.9% | 13,966↓3.8% | 14,517↑5.0% | 13,824 | |
| Depreciation & Amortization | 5,652↑2.1% | 5,535↑2.3% | 5,411↑6.6% | 5,078↑0.5% | 5,052 | |
| EBITDA | 20,844↑2.7% | 20,296↑6.4% | 19,067↑0.5% | 18,981↑6.7% | 17,788 | |
| EBIT | 15,192↑3.0% | 14,752↑8.0% | 13,656↓1.8% | 13,903↑9.2% | 12,736 | |
| Interest & Other Income | ||||||
| Net Interest Income | -3,236↑16.5% | -3,876↑7.6% | -4,193↑2.9% | -4,317↓0.8% | -4,282 | |
| Interest Income | 628↑6.4% | 590↑4.3% | 566↑92.4% | 294↑160.7% | 113 | |
| Interest Expense | 3,864↓13.5% | 4,466↓6.2% | 4,759↑3.2% | 4,612↑4.9% | 4,395 | |
| Non-Operating Income | 458↓37.7% | 735↑137.1% | 310↓49.5% | 614↓43.6% | 1,088 | |
| Other Income / Expenses | -4,322↑12.1% | -4,919↓1.6% | -4,842↑3.0% | -4,993↑6.9% | -5,361 | |
| Income Before Tax | 11,328↑7.2% | 10,568↑15.8% | 9,124↓4.2% | 9,524↑12.5% | 8,463 | |
| Income Tax Expense | 2,850↓9.6% | 3,152↑41.1% | 2,234↑15.9% | 1,928↓18.0% | 2,350 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 8,478↑14.3% | 7,416↑7.6% | 6,890↓9.3% | 7,596↑24.3% | 6,113 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 6,837↑16.8% | 5,855↑9.6% | 5,341↓10.5% | 5,969↑27.8% | 4,670 | |
| Bottom-Line Net Income | 6,837↑16.8% | 5,855↑9.6% | 5,341↓10.5% | 5,969↑27.8% | 4,670 | |
| EPS (Basic) | 3.46↑18.5% | 2.92↑10.2% | 2.65↓10.8% | 2.97↑27.5% | 2.33 | |
| EPS (Diluted) | 3.46↑21.0% | 2.86↑10.0% | 2.60↓10.7% | 2.91↑27.6% | 2.28 | |
| Weighted Average Shares | 1,984↓0.9% | 2,003↓0.6% | 2,016↑0.1% | 2,013↑0.3% | 2,007 | |
| Weighted Average Diluted Shares | 1,984↓2.9% | 2,044↓0.5% | 2,054↑0.2% | 2,050↑0.2% | 2,045 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.