Anheuser-Busch InBev SA/NV (BUD) annual results, year to 31 December 2024: revenue USD 59,768 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 2024 it reported revenue of USD 59,768 million, up 0.7% on the year before. Its profit attributable to shareholders was USD 5,855 million, up 9.6%, and diluted earnings per share USD 2.86.
The year to 31 December 2024, against the year before
| Year to | Dec 2023 | Dec 2024 |
|---|---|---|
| Revenue | 59,380 | 59,768 |
| Cost of sales | 27,396 | 26,744 |
| Gross profit | 31,984 | 33,024 |
| Operating profit | 13,966 | 15,487 |
| Finance costs | 6,133 | 6,376 |
| Profit before tax | 9,124 | 10,568 |
| Income tax | 2,234 | 3,152 |
| Profit for the year | 6,891 | 7,416 |
| Profit attributable to shareholders | 5,341 | 5,855 |
| 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 2023 | Dec 2024 |
|---|---|---|
| Cash from operations | 13,265 | 15,055 |
| Purchase of property, plant and equipment | 4,638 | 3,863 |
| Free cash flow | 8,627 | 11,192 |
| Dividends paid | 3,013 | 2,672 |
| 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 2023 | Dec 2024 |
|---|---|---|
| Total assets | 219,340 | 206,637 |
| Equity attributable to shareholders | 81,848 | 78,237 |
| Cash and cash equivalents | 10,332 | 11,174 |
| Borrowings, as filed | n/a | 72,169 |
| Trade and other receivables | 6,024 | 5,270 |
| Inventories | 5,583 | 5,020 |
| Goodwill | 117,043 | 110,479 |
| Filing | 20-F | 20-F |
USD million, at each fiscal year end.
Ratios on the filed lines
| Year to | Dec 2023 | Dec 2024 |
|---|---|---|
| Gross margin | 53.9% | 55.3% |
| Operating margin | 23.5% | 25.9% |
| Net margin | 9.0% | 9.8% |
| Free cash flow margin | 14.5% | 18.7% |
| Return on year-end equity | 6.5% | 7.5% |
| Effective tax rate | 24.5% | 29.8% |
| 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, this page
- Year to 31 December 2023
- 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 2024, 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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