Projected Income Statement: Anheuser-Busch InBev SA/NV

Forecast Balance Sheet: Anheuser-Busch InBev SA/NV

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 76,162 69,713 67,573 60,600 60,900 57,774 52,677 47,193
Change - -8.47% -3.07% -10.32% 0.5% -5.13% -8.82% -10.41%
Announcement Date 24/02/22 02/03/23 29/02/24 26/02/25 12/02/26 - - -
1USD in Million
Estimates

Cash Flow Forecast: Anheuser-Busch InBev SA/NV

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 5,640 5,160 4,638 3,863 3,656 3,879 4,064 4,218
Change - -8.51% -10.12% -16.71% -5.36% 6.11% 4.75% 3.8%
Free Cash Flow (FCF) 1 9,159 8,138 8,627 11,192 12,227 12,380 12,854 13,397
Change - -11.15% 6.01% 29.73% 9.25% 1.25% 3.83% 4.22%
Announcement Date 24/02/22 02/03/23 29/02/24 26/02/25 12/02/26 - - -
1USD in Million
Estimates

Forecast Financial Ratios: Anheuser-Busch InBev SA/NV

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 35.37% 34.34% 33.64% 35.07% 35.78% 36.34% 36.97% 37.27%
EBIT Margin (%) 26.59% 25.56% 24.57% 25.87% 26.73% 27.52% 28.35% 28.7%
EBT Margin (%) 15.58% 16.48% 15.37% 17.68% 19.09% 21.28% 22.59% 23.53%
Net margin (%) 8.6% 10.33% 8.99% 9.8% 11.53% 14.04% 14.37% 14.95%
FCF margin (%) 16.87% 14.08% 14.53% 18.73% 20.61% 19.48% 19.49% 19.52%
FCF / Net Income (%) 196.12% 136.34% 161.52% 191.15% 178.84% 138.76% 135.56% 130.56%

Profitability

        
ROA 2.58% 2.77% 2.47% 2.75% 3.21% 3.77% 4.17% 4.52%
ROE 8.37% 8.4% 6.88% 7.31% 8.26% 9.55% 10.35% 11.02%

Financial Health

        
Leverage (Debt/EBITDA) 3.96x 3.51x 3.38x 2.89x 2.87x 2.5x 2.16x 1.85x
Debt / Free cash flow 8.32x 8.57x 7.83x 5.41x 4.98x 4.67x 4.1x 3.52x

Capital Intensity

        
CAPEX / Current Assets (%) 10.39% 8.93% 7.81% 6.46% 6.16% 6.11% 6.16% 6.15%
CAPEX / EBITDA (%) 29.36% 26% 23.22% 18.43% 17.23% 16.8% 16.66% 16.49%
CAPEX / FCF (%) 61.58% 63.41% 53.76% 34.52% 29.9% 31.34% 31.61% 31.48%

Items per share

        
Cash flow per share 1 7.37 6.61 6.58 7.516 7.502 7.724 8.494 9.262
Change - -10.31% -0.45% 14.23% -0.2% 2.97% 9.97% 9.04%
Dividend per Share 1 0.557 0.795 0.8864 1.05 1.365 1.434 1.647 1.852
Change - 42.73% 11.5% 18.46% 29.97% 5.05% 14.87% 12.47%
Book Value Per Share 1 34.21 36.46 40.6 39.06 44 45.95 48.37 50.27
Change - 6.57% 11.35% -3.79% 12.64% 4.45% 5.25% 3.94%
EPS 1 2.28 2.91 2.65 2.92 3.45 4.375 4.825 5.32
Change - 27.63% -8.93% 10.19% 18.15% 26.8% 10.3% 10.26%
Nbr of stocks (in thousands) 2,023,621 1,982,782 1,986,774 1,971,987 1,952,642 1,950,752 1,950,752 1,950,752
Announcement Date 24/02/22 02/03/23 29/02/24 26/02/25 12/02/26 - - -
1USD
Estimates
2026 *2027 *
P/E ratio 16.6x 15x
PBR 1.58x 1.5x
EV / Sales 3.14x 2.94x
Yield 1.98% 2.27%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AA
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
26
Last Close Price
72.55USD
Average target price
89.37USD
Spread / Average Target
+23.18%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. ABI Stock
  4. Financials Anheuser-Busch InBev SA/NV
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