Anheuser-Busch InBev SA/NV (BUD) annual results, year to 31 December 2023: revenue USD 59,380 million, from the 20-F
Anheuser-Busch InBev SA/NV files a 20-F with the SEC once a year, in US dollars. In the year to 31 December 2023 it reported revenue of USD 59,380 million, up 2.8% on the year before. Its profit attributable to shareholders was USD 5,341 million, down 10.5%, and diluted earnings per share USD 2.60.
The year to 31 December 2023, against the year before
| Year to | Dec 2022 † | Dec 2023 |
|---|---|---|
| Revenue | 57,786 | 59,380 |
| Cost of sales | 26,305 | 27,396 |
| Gross profit | 31,481 | 31,984 |
| Operating profit | 14,517 | 13,966 |
| Finance costs | 5,814 | 6,133 |
| Profit before tax | 9,524 | 9,124 |
| Income tax | 1,928 | 2,234 |
| Profit for the year | 7,597 | 6,891 |
| Profit attributable to shareholders | 5,969 | 5,341 |
| Filing | 20-F | 20-F |
USD million, from the 20-F on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed. A line the company does not file under the standard tag is left out rather than estimated.
USD per ordinary share, as filed.
Cash flow
| Year to | Dec 2022 † | Dec 2023 |
|---|---|---|
| Cash from operations | 13,298 | 13,265 |
| Purchase of property, plant and equipment | 5,160 | 4,638 |
| Free cash flow | 8,138 | 8,627 |
| Dividends paid | 2,442 | 3,013 |
| Filing | 20-F | 20-F |
USD million. Free cash flow is cash from operations less the purchase of property, plant and equipment, arithmetic on the two filed lines.
Balance sheet at year end
| Year to | Dec 2022 † | Dec 2023 |
|---|---|---|
| Total assets | 212,943 | 219,340 |
| Equity attributable to shareholders | 73,398 | 81,848 |
| Cash and cash equivalents | 9,973 | 10,332 |
| Trade and other receivables | 5,330 | 6,024 |
| Inventories | 6,612 | 5,583 |
| Goodwill | 113,010 | 117,043 |
| Filing | 20-F | 20-F |
USD million, at each fiscal year end.
Ratios on the filed lines
| Year to | Dec 2022 † | Dec 2023 |
|---|---|---|
| Gross margin | 54.5% | 53.9% |
| Operating margin | 25.1% | 23.5% |
| Net margin | 10.3% | 9.0% |
| Free cash flow margin | 14.1% | 14.5% |
| Return on year-end equity | 8.1% | 6.5% |
| Effective tax rate | 20.2% | 24.5% |
| Filing | 20-F | 20-F |
Arithmetic on the filed lines of the same year.
Every annual report here
- Year to 31 December 2025
- Year to 31 December 2024
- Year to 31 December 2023, this page
- Year to 31 December 2022
- Year to 31 December 2021
- Year to 31 December 2020
- Year to 31 December 2019
- Year to 31 December 2018
- Year to 31 December 2017
- Year to 31 December 2016
- Year to 31 December 2015
Source
20-F for the year to 31 December 2023, filed 3 March 2026, accession 0001193125-26-088105: the filing on EDGAR. All of Anheuser-Busch InBev SA/NV's filings: EDGAR company page. The figures are in US dollars as filed.
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