Anheuser Busch Inbev SA NV (ABI) Fair Value & Analysis
Consumer Defensive · BE · Market cap €137B · ISIN BE0974293251
What is Anheuser Busch Inbev SA NV really worth?
A solid business, but trading 15% above our fair value of €60.24.
Strengths
Risks
Fair value as of: Sep 1, 2026
From 23 valuation models · updated 4 days ago
Fair value updated Sep 1, 2026, revised from €60.02 to €60.24 (+0.4%) since Aug 27, 2026. Share price −6.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (€36.14 to €78.91) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range €43.48 – €75.20 · fair‑value band €36.14 – €78.91 · the €69.04 price screens above the €60.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Anheuser Busch Inbev SA NV (ABI) currently trades at €69.04, while our model-based Fair Value estimate is €60.24, implying the stock looks roughly 14.6% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Defensive sector. Bull case: the Growth Earnings group reads highest at a median of €70.50 per share, and 9 of the 23 models we run sit above the €69.04 price. Bear case: the Asset-Based group reads lowest at €34.20, and 14 of the 23 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Anheuser Busch Inbev SA NV generated revenue of €61.0B at a net margin of 11.9%. Revenue grew 12.0% year over year. It earns a return on equity of 9.1%. Net debt stands at €61.4B. Fundamentals as of Sep 1, 2026
Our scenario range runs from €36.14 (bear case) to €78.91 (bull case); at €69.04, 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 share trades about 5% below its 52-week high and 44% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 15% fair-value upside, at −13%, ABI 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 €2.11 per share, which is 3.5 % 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.
All 23 models by family
Widest divergence: Growth Earnings (€70.50) versus Asset-Based (€34.20). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 71
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
Anheuser-Busch InBev SA/NV produces and sells beer in North America, Middle Americas, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through North America, Middle Americas, South America, EMEA, Asia Pacific, and Global Export and Holding Companies segments.
Full company description
Anheuser-Busch InBev SA/NV produces and sells beer in North America, Middle Americas, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through North America, Middle Americas, South America, EMEA, Asia Pacific, and Global Export and Holding Companies segments. The company also offers flavored malt beverages, soft drinks, spirit-based ready-to-drink cocktails and beverages, and energy drinks. In addition, it operates BEES, a business-to-business digital commerce platform; on-demand delivery platforms under the Zé Delivery and TaDa Delivery brands; and premium at-home draft system under the PerfectDraft brand. The company provides a portfolio of approximately 500 beer brands, which primarily include Budweiser, Corona Extra, Michelob Ultra, and Stella Artois; Aguila, Brahma, Carling Black Label, Cass Fresh, Jupiler, Quilmes, SKOL, and Victoria; Beck's, Hoegaarden, and Leffe; Antarctica, Bud Light, Castle, Castle Lite, Cristal, Harbin, Modelo Especial, Sedrin, and Skol brands, as well as non-beer brands comprising Brutal Fruit, Cutwater, and NÜTRL brands. The company was formerly known as InBev SA and changed its name to Anheuser-Busch InBev SA/NV in November 2008. Anheuser-Busch InBev SA/NV was founded in 1366 and is headquartered in Leuven, Belgium.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Anheuser Busch Inbev SA NV reported revenue of $59.3B in FY2025 versus $54.3B in FY2021, a compound +2.2%/yr. Reported net income was $6.8B in FY2025, compounding +10.0%/yr from FY2021.
of which total revenue +3.1 % · buybacks/dilution −1.9 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
ABI screens 15% overvalued. Compare with Heineken N.V →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Anheuser-Busch Inbev (BUD) Upgraded to Buy: What Does It Mean for the Stock?
- 3 Reasons Why Growth Investors Shouldn't Overlook Anheuser-Busch Inbev (BUD)
- Are Consumer Staples Stocks Lagging AnheuserBusch InBev (BUD) This Year?
- Tunnel to Towers Foundation & Anheuser-Busch Expand Longstanding Partnership in Honor of the 25th Anniversary of 9/11
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.
Valuation Multiples vs Beverages - Brewers median · lower = cheaper
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.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Beverages - Brewers stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| 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% |
| Budweiser Brewing Company 1876 | HK$6.35 | HK$6.05 | −5% |
| 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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