Anheuser-Busch InBev Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	8,477	7,416	6,891	7,597	6,114
Depreciation & Amortization	5,652	5,544	5,411	5,078	5,052
Stock-Based Compensation	625	644	570	448	510
Other Adjustments	952	1,848	2,353	872	1,039
Change in Receivables	-187	341	-1,147	-48	164
Changes in Inventories	87	-149	717	-1,547	-1,232
Changes in Accounts Payable	-298	-215	-1,110	1,249	3,527
Changes in Other Operating Activities	-426	-374	-419	-351	-375
Operating Cash Flow	14,883	15,055	13,265	13,298	14,799
Operating Cash Flow Growth	-1.14%	13.49%	-0.25%	-10.14%	35.88%
Capital Expenditures	-3,656	-3,863	-4,638	-5,160	-5,640
Sale of Property, Plant & Equipment	104	128	156	322	142
Proceeds from Business Divestments	18	-46	9	-70	-444
Other Investing Activities	98	523	83	288	65
Investing Cash Flow	-3,436	-3,259	-4,390	-4,620	-5,878
Long-Term Debt Issued	4,400	5,465	202	91	454
Long-Term Debt Repaid	-7,594	-10,082	-3,878	-7,875	-9,496
Net Long-Term Debt Issued (Repaid)	-3,194	-4,617	-3,676	-7,784	-9,042
Repurchase of Common Stock	-2,301	-937	-362	-	-
Net Common Stock Issued (Repurchased)	-2,301	-937	-362	-	-
Common Dividends Paid	-4,543	-2,672	-3,013	-2,442	-2,364
Other Financing Activities	-1,412	-1,629	-1,509	-394	-192
Financing Cash Flow	-11,450	-9,854	-8,560	-10,620	-11,598
Effect of Exchange Rate Changes on Cash and Cash Equivalents	452	-1,082	109	-211	-526
Net Cash Flow	-3	1,942	315	-1,942	-2,677
Free Cash Flow	11,227	11,192	8,627	8,138	9,159
Free Cash Flow Growth	0.31%	29.73%	6.01%	-11.15%	28.82%
FCF Margin	18.93%	18.73%	14.53%	14.08%	16.87%
Free Cash Flow Per Share	5.56	5.48	4.20	3.97	4.48
Levered Free Cash Flow	5,002	2,181	1,626	-2,546	-3,040
Unlevered Free Cash Flow	12,888	11,811	10,507	10,847	11,317

SEC Filings: 10-K · 10-Q