Anheuser-Busch InBev Sa/nv (BUD) Financial Statements
Anheuser-Busch InBev Sa/nv financial statements at a glance
Anheuser-Busch InBev Sa/nv reported revenue of $59.32 billion for fiscal year 2025 (ended December 31, 2025), down 0.7% from fiscal year 2024. Net income was $6.84 billion, a net margin of 11.5%, and diluted earnings per share were $3.39.
At the end of fiscal year 2025 it had total assets of $218.81 billion, total liabilities of $121.07 billion and shareholders' equity of $87.29 billion, with cash and short-term investments of $11.84 billion and total debt of $73.03 billion.
Its operations brought in $14.88 billion of cash; capital spending was $3.66 billion, leaving free cash flow of $11.23 billion.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
Anheuser-Busch InBev Sa/nv
Income Statement
Annual • USD
Anheuser-Busch InBev Sa/nv key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $59.3B | $59.8B | $59.4B | $57.8B | $54.3B |
| Gross profit | $33.2B | $33.0B | $32.0B | $31.5B | $31.2B |
| Operating income | $15.7B | $15.1B | $14.3B | $14.5B | $14.2B |
| Net income | $6.8B | $5.9B | $5.3B | $6.0B | $4.7B |
| Diluted EPS | $3.39 | $2.92 | $2.65 | $2.91 | $2.28 |
| Total assets | $218.8B | $206.6B | $219.3B | $212.9B | $217.6B |
| Total liabilities | $121.1B | $117.9B | $126.7B | $128.7B | $138.3B |
| Shareholders' equity | $87.3B | $78.2B | $81.8B | $73.4B | $68.7B |
| Cash and short-term investments | $11.8B | $11.4B | $10.4B | $10.0B | $12.4B |
| Total debt | $73.0B | $72.2B | $78.2B | $80.0B | $88.8B |
| Operating cash flow | $14.9B | $15.1B | $13.3B | $13.3B | $14.8B |
| Capital spending | $3.7B | $3.9B | $4.6B | $5.2B | $5.6B |
| Free cash flow | $11.2B | $11.2B | $8.6B | $8.1B | $9.2B |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Anheuser-Busch InBev Sa/nv's revenue in fiscal year 2025?
$59.32 billion, down 0.7% from $59.77 billion in fiscal year 2024.
How much profit does Anheuser-Busch InBev Sa/nv make?
Anheuser-Busch InBev Sa/nv reported net income of $6.84 billion for fiscal year 2025 (11.5% of revenue); operating income was $15.65 billion.
How much cash and debt does Anheuser-Busch InBev Sa/nv have?
At the end of fiscal year 2025: cash and short-term investments of $11.84 billion and total debt of $73.03 billion.
What is Anheuser-Busch InBev Sa/nv's free cash flow?
$11.23 billion in fiscal year 2025 (operating cash flow of $14.88 billion minus capital spending of $3.66 billion).
