Anheuser-Busch InBev SA/NV

BUDNYSEConsumer Defensive● Active

$78.50

+$0.58(+0.74%)

Market Cap$151.9B

P/E Ratio—

52W High$84.46

52W Low$56.97

Avg Volume1.9M

Open$78.58

Beta0.79

Free Cash Flow Financials Revenue

Anheuser-Busch InBev SA/NV (BUD) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

BUD · free cash flow · updated Jun 8, 2026

Core FCF metrics

BUD · FCF · TTM · margin & CAGR

Free cash flow was $11.26B for FY2025 (fiscal year ending 2025-12-31), up 0.8% year-over-year The FCF margin was 19.0%. Five-year CAGR stands at +12.7%.

FY2025 Free Cash Flow$11.26B▲ +0.8% YoY

Trailing 12M (TTM)$22.37Btrailing 4 quarters sum

FCF Margin19.0%$11.26B ÷ revenue

3-Year CAGR+13.2%FY2022 → FY2025

5-Year CAGR+12.7%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

BUD · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$14.93B(3.67B)$11.26B▲ +0.8%19.0%

FY2024$15.03B(3.86B)$11.17B▲ +29.3%18.7%

FY2023$13.29B(4.65B)$8.64B▲ +11.2%14.6%

FY2022$12.93B(5.16B)$7.77B▼ 13.2%13.4%

FY2021$14.58B(5.63B)$8.95B▲ +44.4%16.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

BUD · P/FCF · FCF yield · FCF per share

Anheuser-Busch InBev SA/NV (BUD) trades at a FCF yield of 7.76% and a price-to-free-cash-flow ratio of 7.0x. FCF per share stands at $11.27, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

7.76%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$11.27

TTM FCF ÷ Shares Outstanding

Price / FCF

x7.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x18.1

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

BUD · cash flow statement · operating / investing / financing

For FY2025, Anheuser-Busch InBev SA/NV generated $14.93B in operating cash flow and spent 3.67B in capital expenditures, yielding $11.26B in free cash flow.

Operating Activities

+$14.93B

Cash from core business operations

2025-12-31

Investing Activities

−$3.77B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$11.16B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($14.93B) − |CapEx| (3.67B) = FCF ($11.26B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Defensive)

BUD vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Anheuser-Busch InBev SA/NVYOU

BUD

$11.26B+0.8%19.0%

75%

The Procter & Gamble Company

$14.04B-15.0%16.7%

94%

Philip Morris International Inc.

$10.66B-1.0%26.2%

71%

Costco Wholesale Corporation

COST

$7.84B+18.2%2.8%

53%

The Coca-Cola Company

$5.30B+11.7%11.0%

35%

Consumer Defensive · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Anheuser-Busch InBev SA/NV (BUD) reported free cash flow of $11.26B for FY2025 (fiscal year ending 2025-12-31), up 0.8% year-over-year. The FCF margin was 19.0%.

Based on available data, Anheuser-Busch InBev SA/NV has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $11.26B in FY2025. The 5-year CAGR stands at +12.7%.

Anheuser-Busch InBev SA/NV's FCF yield is 7.76% and price-to-FCF ratio is 7.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

BUD free cash flow · 8 questions

Anheuser-Busch InBev SA/NV free cash flow was $11.26B for FY2025, up 0.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $22.37B.

BUD free cash flowBUD FCFBUD FCF 2025BUD free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Anheuser-Busch InBev SA/NV · Anheuser-Busch InBev SA/NV SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026