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Budweiser Brewing Company (1876) Fair Value & Analysis

Consumer Defensive · HK · Market cap HK$80.4B (≈ $10.3B) · ISIN KYG1674K1013

What is Budweiser Brewing Company really worth?

BB Budweiser Brewing Company 1876 · HK
PriceHK$5.93
Fair ValueHK$6.05
Upside+2.1%
Quality64/100

A solid business, currently priced close to our fair value of HK$6.05.

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Strengths

✓Low debt · generates free cash flow
✓Ranks above peers (10/14)

Risks

!Weak Growth (revenue 5y +0.7 %/yr)
!Thin margins · 8.3% net margin
!Moderate moat 46/100
!Evidence only low, so the estimate is less certain
!Weak on future: 11 out of 100
!Weak on past: 20 out of 100
Evidence: Low Range HK$4.54 – HK$7.56

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 22 days ago

Share price −8.8% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

HK$22.89 HK$5.68 Fair Value HK$6.05 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$5.68 – HK$22.89 · fair‑value band HK$4.54 – HK$7.56 · the HK$5.93 price screens below the HK$6.05 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Budweiser Brewing Company (1876) currently trades at HK$5.93, while our model-based Fair Value estimate is HK$6.05, implying the stock looks roughly 2.1% fairly valued today. The Quality Score stands at 64/100 (solid quality), in the Consumer Defensive sector. Bull case: the DCF Models group reads highest at a median of HK$6.84 per share, and 14 of the 24 models we run sit above the HK$5.93 price. Bear case: the Earnings-Based group reads lowest at HK$2.39, and 10 of the 24 models stay below the price. Evidence for this calculation is low.

Revenue grew 2.2% year over year. It earns a return on equity of 5.1%. The balance sheet holds a net cash position of HK$20.4B. The stock trades on a trailing P/E of 21.0 (as of Jul 2, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$4.54 (bear case) to HK$7.56 (bull case); at HK$5.93, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 33% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 15% fair-value upside, at 2%, 1876 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly HK$0.0204 per share, which is 0.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF HK$5.39 HK$6.84 HK$9.52 81
Growth DCF HK$5.56 HK$6.96 HK$9.37 80
Owner Earnings HK$6.21 HK$7.98 HK$11.27 77
All 24 models by family
DCF Models
FCF DCF HK$5.39 HK$6.84 HK$9.52 81
Owner Earnings HK$6.21 HK$7.98 HK$11.27 77
5Y Revenue Exit HK$5.13 HK$6.70 HK$8.98 74
5Y EBITDA Exit HK$7.68 HK$11.10 HK$15.65 75
5Y P/E Exit HK$5.51 HK$7.35 HK$9.56 72
10Y Revenue Exit HK$5.11 HK$6.29 HK$7.55 68
10Y EBITDA Exit HK$6.75 HK$9.01 HK$11.47 70
10Y P/E Exit HK$5.43 HK$6.69 HK$7.89 65
Earnings-Based
Graham-Dodd HK$1.96 HK$2.39 HK$2.69 67
EPV HK$4.34 HK$4.78 HK$5.16 74
Dividend Discount
Gordon GGM HK$4.05 HK$4.43 HK$5.01 69
DDM Multi-Stage HK$4.05 HK$5.08 HK$6.52 67
Multiples
P/E Multiple HK$4.54 HK$6.05 HK$7.56 63
P/S Multiple HK$3.67 HK$4.90 HK$6.12 58
P/B Multiple HK$3.67 HK$4.90 HK$6.12 55
EV/EBIT HK$8.47 HK$10.73 HK$12.98 66
EV/EBITDA HK$10.36 HK$13.24 HK$16.13 67
EV/Revenue HK$5.27 HK$6.79 HK$8.32 54
Asset-Based
NCAV (Graham) HK$3.02 HK$4.05 HK$6.04 54
Growth DCF
Growth DCF HK$5.56 HK$6.96 HK$9.37 80
Rev-Margin DCF HK$5.13 HK$6.78 HK$8.81 74
Economic Profit
Residual Income HK$4.65 HK$4.74 HK$4.54 76
ROIC Compounder HK$4.34 HK$4.78 HK$5.16 72
Growth Earnings
Growth-Adj P/E HK$3.20 HK$4.58 HK$5.95 67

Widest divergence: DCF Models (HK$6.84) versus Earnings-Based (HK$2.39). Highest evidence: FCF DCF (81).

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Key figures & financial health

P/E ratio 21.0 as of Jul 2, 2026
P/S ratio 1.78 P/E × margin
EPS (TTM) HK$0.0300 price ÷ EPS = P/E 21.0
Dividend yield 7.2%
Net margin 8.5% FY2025
Return on equity 5.1% TTM
More key figures
Profitability
Return on assets (EBIT) 7.5% avg 5y
Operating margin 21.1% TTM
Growth
Revenue growth (YoY) +2.2% 3y avg −4.0%
EPS growth (YoY) −4.0%
Balance sheet & cash flow
Free cash flow HK$5.0B FY2025
Net cash HK$20.4B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 63 · Market factors (momentum, volatility) 35

Profitability 32
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 79
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Budweiser Brewing Company APAC Limited, an investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, Southeast Asia, and internationally.

Full company description

Budweiser Brewing Company APAC Limited, an investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, Southeast Asia, and internationally. It brews, imports, markets, distributes, and sells a portfolio of beer brands, including Budweiser, Stella Artois, Corona, Harbin, Hoegaarden, and Cass. The company was founded in 1876 and is headquartered in Causeway Bay, Hong Kong. Budweiser Brewing Company APAC Limited operates as a subsidiary of AB InBev Brewing Company (APAC) Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Budweiser Brewing Company reported revenue of $44.9B in FY2025 versus $52.8B in FY2021, a compound −3.9%/yr. Reported net income was $3.8B in FY2025, compounding −15.2%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$44.9B
Latest YoY
−7.4%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−4.0%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.7%
Avg. revenue growth/yr (8Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−0.7%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−4.4% (−11.6 + 7.2)
Revenue −3.9%/yr
FY21 $52.8B
FY22 $50.7B
FY23 $53.5B
FY24 $48.5B
FY25 $44.9B
Net income −15.2%/yr
FY21 $7.4B
FY22 $7.1B
FY23 $852M
FY24 $5.6B
FY25 $3.8B

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Cite: Fair Value Calculator (2026). "Budweiser Brewing Company Fair Value". https://www.fairvalue-calculator.com/stock/1876

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Beverages - Brewers · 56 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 64 · Above median
Fair Value upside +2% · Above median
Return on equity (TTM) 5% · Below median
Return on assets 4% · Below median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 21% · Top 25%
Revenue growth 2% · Above median
Dividend yield (TTM) 7.2% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Beverages - Brewers median · lower = cheaper

P/E (TTM) 21.0× · Pricier than median
P/B 0.13× · Cheaper than 75% of peers
P/S (TTM) 1.77× · Pricier than median
P/FCF 2.0× · Cheaper than median
PEG 0.97× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE36 · sector 28
FUTURE11 · sector 0
PAST20 · sector 36
HEALTH100 · sector 97
DIVIDEND100 · sector 63

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Alcohol

Similar stocks

10 more Beverages - Brewers stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Anheuser-Busch InBev SA ABI €68.28 €60.24 −12%
Heineken N.V HEIA €72.70 €65.06 −11%
Ambev S.A ABEV $2.86 $4.05 +42%
Fomento Económico Mexicano, S.A. FMX $120.41 $54.74 −55%
Constellation Brands, Inc STZ $129.09 $173.19 +34%
Carlsberg A/S CARLA kr 1,115 kr 607.30 −46%
Heineken Holding HEIO €68.25 €60.55 −11%
Tsingtao Brewery Company 600600 ¥51.63 ¥63.65 +23%
China Resources Beer (Holdings) Company 0291 HK$22.16 HK$25.38 +15%
Molson Coors Canada Inc TPXA C$63.00 C$105.41 +67%

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Frequently asked questions

Is Budweiser Brewing Company (1876) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$6.05 versus a price of HK$5.93, about +2% upside (fairly valued).
What is the fair value of 1876?
Our model-based fair value for Budweiser Brewing Company is HK$6.05 (as of Aug 13, 2026), built from audited fundamentals. The current price: HK$5.93.
What is the quality score of 1876?
Budweiser Brewing Company has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the net profit margin of 1876?
The net profit margin of Budweiser Brewing Company is about 8.3%, meaning it keeps roughly 8.3% of revenue as net income. Based on the latest reported figures.
Does Budweiser Brewing Company pay a dividend?
Budweiser Brewing Company currently shows a dividend yield of about 7.25% relative to its recent price (as of Aug 13, 2026).
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