Anheuser-Busch InBev SA/NV (EBR:ABI)

Anheuser-Busch InBev Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	58,605	59,768	59,380	57,786	54,304	46,881
Revenue Growth (YoY)	-1.34%	0.65%	2.76%	6.41%	15.83%	-10.41%
Cost of Revenue	25,842	26,744	27,396	26,305	23,097	19,634
Gross Profit	32,763	33,024	31,984	31,481	31,207	27,247
Selling, General & Admin	18,038	18,429	18,263	17,628	17,648	15,451
Other Operating Expenses	-688	-651	-661	-558	-514	-308
Operating Expenses	17,350	17,778	17,602	17,070	17,134	15,143
Operating Income	15,413	15,246	14,382	14,411	14,073	12,104
Interest Expense	-3,442	-3,632	-3,906	-3,807	-3,851	-4,161
Interest & Investment Income	591	591	565	294	113	150
Earnings From Equity Investments	349	329	295	299	248	156
Currency Exchange Gain (Loss)	-147	-147	-353	-363	-101	43
Other Non Operating Income (Expenses)	-1,145	-1,145	-1,432	-1,481	-1,159	-2,300
EBT Excluding Unusual Items	11,619	11,242	9,551	9,353	9,323	5,992
Merger & Restructuring Charges	-156	-156	-142	-111	-189	-182
Impairment of Goodwill	-	-	-20	-	-	-2,500
Gain (Loss) on Sale of Assets	88	88	73	82	65	56
Asset Writedown	-9	-9	-	-176	-258	-
Legal Settlements	191	191	193	369	344	796
Other Unusual Items	-964	-788	-530	8	-821	-2,083
Pretax Income	10,769	10,568	9,125	9,525	8,464	2,079
Income Tax Expense	2,978	3,152	2,234	1,928	2,350	1,932
Earnings From Continuing Operations	7,791	7,416	6,891	7,597	6,114	147
Earnings From Discontinued Operations	-	-	-	-	-	2,055
Net Income to Company	7,791	7,416	6,891	7,597	6,114	2,202
Minority Interest in Earnings	-1,693	-1,561	-1,550	-1,628	-1,444	-797
Net Income	6,098	5,855	5,341	5,969	4,670	1,405
Net Income to Common	6,098	5,855	5,341	5,969	4,670	1,405
Net Income Growth	-6.56%	9.62%	-10.52%	27.82%	232.38%	-84.68%
Shares Outstanding (Basic)	1,953	2,003	2,016	2,013	2,007	1,998
Shares Outstanding (Diluted)	1,953	2,044	2,054	2,050	2,045	1,998
Shares Change (YoY)	-4.52%	-0.49%	0.19%	0.24%	2.35%	-1.38%
EPS (Basic)	3.12	2.92	2.65	2.97	2.33	0.70
EPS (Diluted)	3.12	2.86	2.60	2.91	2.28	0.70
EPS Growth	-2.28%	10.00%	-10.65%	27.63%	226.40%	-84.58%
Free Cash Flow	-	11,192	8,627	8,138	9,159	7,110
Free Cash Flow Per Share	-	5.48	4.20	3.97	4.48	3.56
Dividend Per Share	-	1.035	0.906	0.802	0.569	0.612
Dividend Growth	-	14.22%	13.08%	40.96%	-7.03%	-58.08%
Gross Margin	55.91%	55.25%	53.86%	54.48%	57.47%	58.12%
Operating Margin	26.30%	25.51%	24.22%	24.94%	25.91%	25.82%
Profit Margin	10.41%	9.80%	9.00%	10.33%	8.60%	3.00%
Free Cash Flow Margin	-	18.73%	14.53%	14.08%	16.87%	15.17%
EBITDA	18,901	19,113	18,755	18,684	18,193	16,933
EBITDA Margin	32.25%	31.98%	31.59%	32.33%	33.50%	36.12%
D&A For EBITDA	3,488	3,867	4,373	4,273	4,120	4,829
EBIT	15,413	15,246	14,382	14,411	14,073	12,104
EBIT Margin	26.30%	25.51%	24.22%	24.94%	25.91%	25.82%
Effective Tax Rate	27.65%	29.83%	24.48%	20.24%	27.77%	92.93%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.