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General information

Sector: Consumer Goods

The company is not available at Interactive Brokers

With centuries of brewing history and operations in more than 50 countries, Anheuser-Busch Inbev (JSE:ANH) exists to bring people together and create meaningful experiences. The company has seen countless new friendships, connections and experiences built on a shared love of beer. The company's diverse portfolio offers more than 500 brands and eight of the top 10 most valuable beer brands worldwide, according to BrandZ 2122. By brewing beer and building brands that consumers love, Anheuser-Busch Inbev will continue to bring people together for the next 100 years and beyond.



  • Pretty weak financial results growth rate 4.2% (average between last period year over year growth for revenue and EBITDA), there is acceleration compared to average historical growth rates (0.1%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield 7.4% (LTM)
  • Share price is 45.4% higher than minimum and 5.0% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (10.3x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (+4.8%)1176.87
Share price, USD: 63.25
Common stocks: 1 798 753 339

Dividend Yield:  0.0%
FCF Yield LTM: 7.4%
EV / LTM EBITDA: 10.3x
Last revenue growth (y/y):  +4.7%
Last growth of EBITDA (y/y):  +3.6%
Historical revenue growth:  +8.3%
Historical growth of EBITDA:  +4.8%
Target EV / EBITDA (hist percentile):
Fundamental value created in LTM:
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 113 767
Net Debt ($m): 85 308
EV (Enterprise Value): 199 074
EBITDA LTM ($m): 19 332
EV / LTM EBITDA: 10.3x
Price to Book: 1.29x

Revenue and EBITDA

Semi-Annual values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

EV / EBITDA

Potential dynamics

TechCentral Headlines

Naspers: A fish still too big for its JSE pond

Whenever Naspers and Prosus management address any of their stakeholders, somebody will ask what they’re doing to address the discount of the Naspers share price to its underlying net asset value.

2021-02-19 08:08 +02:00
by Adriaan Kruger

JSE:ANH JSE:PRX JSE:NPN JSE:AVI JSE:JSE JSE:HUG JSE:ISA

As if he’s not busy enough, Eskom’s Mabuza joins MultiChoice

Jabu Mabuza, chairman of the South African power utility regarded as the biggest risk to the nation’s economy, has taken on a non-executive director role at pay-television company MultiChoice Group.

2019-07-09 05:54 +02:00
by Agency Staff

JSE:ANH JSE:MCG JSE:TKG JSE:SUI

Prospects brighten for MTN in South Sudan

MTN Group’s South Sudan unit said it’s investing at least R430-million in revitalising and expanding its operations as a new deal to end a five-year civil war brings relative peace to much of the country.

2019-03-22 12:01 +02:00
by Agency Staff

JSE:ANH JSE:MTN JSE:SPP

Reuters Headlines

South African Breweries may require staff to have COVID-19 vaccines

South African Breweries (SAB), part of Anheuser-Busch InBev, said on Tuesday it was looking at making COVID-19 vaccinations mandatory for staff across its operations, the latest company in South Africa to consider such a move.

2022-01-04

JSE:ANH JSE:MTN JSE:DSY JSE:OMU JSE:DCP JSE:AVI

Exclusive-Investors launch fresh attempt to exit S.African bottle maker Consol - sources

A consortium led by South African investment company Brait Plc has revived plans to exit glass bottle maker Consol Glass, two sources said, possibly via an initial public offering (IPO) three years after a previous failed attempt.

2021-09-17

JSE:ANH JSE:FSR JSE:SLM JSE:OMU JSE:MPT JSE:ISA

South African Breweries turns investment taps back on for home market

South African Breweries (SAB), part of Anheuser-Busch InBev, has reinstated its investment programme that was cancelled last year, allocating 2 billion rand ($148.12 million)for its home operations, the company said on Monday.

2021-06-07

JSE:ANH JSE:AVI

South Africa`s wine industry heads to court to fight alcohol ban

South Africa`s wine industry said on Wednesday it had asked a court to allow the main wine-growing region to exempt itself from a ban on the sale of alcohol that was reinstated last month to ease pressure on hospitals during the COVID-19 pandemic.

2021-01-27

JSE:ANH JSE:AVI

South African barley farmers face bleak outlook as alcohol ban hurts demand

South African barley farmers are bracing for a tough market ahead as demand for the grain used to make beer falls and stockpiles grow after a ban on the sale of alcohol was reinstated as the country battles a surge in COVID-19 cases.

2021-01-27

JSE:ANH JSE:ABG JSE:AVI JSE:MPT

South African Breweries lays off 550 temporary workers- Business Times

South African Breweries (SAB), a unit of Anheuser-Busch InBev, has suspended the contracts of 550 temporary workers indefinitely with immediate effect due to the latest ban on alcohol sales, Business Times reported on Sunday.

2021-01-25

JSE:ANH JSE:AVI JSE:MPT JSE:ISA

Heineken South Africa to cut jobs, put investments on hold

The South African arm of Heineken will cut 70 jobs and put new investments on hold in the country due to the significant impact of bans on alcohol sales and COVID-19 trading restrictions, it said on Wednesday.

2021-01-20

JSE:ANH JSE:MPT JSE:ISA

S.Africa`s glass packagers face $100 million hit from alcohol ban - Consol

South Africa`s glass packaging industry could lose a further 1.5 billion rand ($98 million) in sales if the latest ban on alcohol sales continues for long, the CEO of glass bottle maker Consol said on Monday.

2021-01-18

JSE:ANH

South African Breweries cancels $165 million investment after latest alcohol ban

South African Breweries, part of Anheuser-Busch InBev, has cancelled a further 2.5 billion rand ($165 million) of investment earmarked for 2021 following a third local ban on alcohol sales in the country, it said on Friday.

2021-01-15

JSE:ANH JSE:MPT

AB InBev`s S.African brewer suspends commitments on jobs, investment

The South African Breweries (SAB) has suspended commitments to retain workers and investments, agreed as part of its merger with Anheuser-Busch InBev, due to the country`s decision to ban alcohol sales to curb the coronavirus, it revealed in court papers.

2021-01-08

JSE:ANH JSE:AVI

UPDATE 1-SAB dumps $290 mln investment plans after South Africa alcohol ban

South African Breweries (SAB) said on Monday it was cancelling 5 billion rand ($290 million) of planned investments as a result of revenue losses sustained during a near three-month ban on alcohol sales during the coronavirus crisis.

2020-08-03

JSE:ANH JSE:AVI

Distell accuses AB InBev, SABMiller merger of breach: South Africa regulator

South Africa`s Competition Tribunal on Wednesday said it was looking into allegations by South African alcoholic drinks firm Distell Group that the entity formed from the 2016 merger of the world`s largest brewer Anheuser-Busch InBev with SABMiller breached merger conditions.

2019-09-11

JSE:ANH JSE:DGH

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Releases

2022-08-11
Disclosure Made According to the Requirements of the Royal Decree of 29 April 2019
2022-07-28
Second Quarter and Half Year 2022 Results
2022-07-05
Dealing in Securities by Directors
2022-06-20
Dealing in Securities by a Director
2022-05-17
Dealings by Directors and an Associate of a Director
2022-05-05
Anheuser-Busch InBev Reports Q1 2022 Results - Short Form Announcement
2022-04-29
Notice of Currency Exchange Rate Dividend No. 30
2022-04-28
Approval of Dividend and Results of Annual General Meeting
2022-04-22
Press Release - Decision to Sell Interest in Russian JV
2022-04-22
Press Release
2022-03-25
Notice of annual general meeting
2022-02-24
Anheuser-Busch Inbev Reports Fourth Quarter and Full Year 2021 Results
2022-01-10
Anheuser-Busch InBev Announces Redemption of USD 3.1 Billion
2021-12-06
Anheuser-Busch inbev Hosts Its 2021 Investor Seminar; Provides Medium-Term Outlook
2021-11-30
Disclosure made according to the Requirements of the Royal Decree of 29 April 2019
2021-11-18
Disclosure Made According to the Requirements of the Royal Decree of 29 April 2019
2021-11-10
Dealings by a Director
2021-11-09
Disclosure made according to the Requirements of the Royal Decree of 29 April 2019
2021-10-28
Anheuser-Busch InBev reports Third Quarter 2021 Results

Documents

SENS Announcements

2024-05-08
AB InBev Reports Q1 2024 Results Short Form Announcement
2024-04-29
Notice of Currency Exchange Rate Dividend No. 32
2024-04-24
AB InBev General Shareholders’ Meeting approves dividend payment for 2023
2024-04-04
AB InBev Announces Pricing of Cash Tender Offers for up to USD 2.5 Billion Aggregate Purchase Price
2024-04-03
AB InBev Announces Early Results and Upsizing of Cash Tender Offers
2024-03-22
Notice of Annual General Meeting
2024-03-20
AB InBev Announces Pricing of USD 1 Billion Notes
2024-03-20
AB InBev Announces Pricing of EUR 4 Billion Notes
2024-03-20
AB InBev Announces Closing of Buyback and Secondary Global Offering by Altria
2024-03-19
AB InBev Launches Cash Tender Offers
2024-03-14
AB InBev Announces Pricing of Secondary Global Offering by Altria and Buyback
2024-03-14
CANCELLATION OF S486945 AB InBev Announces Pricing of Secondary Global Offering by Altria and Buyback
2024-03-14
AB InBev Announces Pricing of Secondary Global Offering by Altria and Buyback
2024-03-14
AB InBev Announces Expected Secondary Global Offering by Altria and Buyback
2024-03-12
AB InBev Files its Annual Report on Form 20-F for the Year Ended 31 December 2023
2024-03-12
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2024-03-05
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2024-02-29
AB InBev Reports Fourth Quarter and Full Year 2023 Results Short Form Announcement
2024-02-27
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2024-02-20
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2024-02-13
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2024-02-06
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2024-01-30
ABInBev Reports on its Share Buy-back Program announced on 31 October 2023
2024-01-23
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2024-01-16
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2024-01-09
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2024-01-03
AB InBev Reports on the Progress of its Share Buy-back Program announced on 31 October 2023
2023-12-29
Disclosure Made According with the Requirements of the Law of 2 May 2007
2023-12-27
AB InBev Reports on the Progress of its Share Buy-back Program Announced on 31 October 2023
2023-12-19
Anadolu Efes to Aquire ABI's Non-controlling Interest in Joint Venture
2023-12-19
AB InBev Reports on the Progress of its Share Buy-back Program Announced on 31 October 2023
2023-12-12
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2023-12-05
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2023-11-28
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2023-11-21
AB InBev reports on the progress of its share buy-back program announced on 31 October 2023
2023-11-16
Anheuser-Busch InBev Announces Pricing of Cash Tender Offers for up to USD 3 Billion Aggregate Purchase Price
2023-11-15
Anheuser-Busch InBev Announces Early Results of Cash Tender Offers for up to USD 3 Billion Aggregate Purchase Price
2023-10-31
AB InBev Launches Cash Tender Offers for up to USD 3 Billion Aggregate Purchase Price
2023-10-31
AB InBev Reports Q3 2023 Results Short Form Announcement
2023-08-03
AB InBev Reports Second Quarter and Half Year 2023 Results Short Form Announcement
2023-05-04
AB InBev Reports Q1 2023 Results Short Form Announcement
2023-04-28
Notice of Currency Exchange Rate Dividend No. 31
2023-04-28
AB InBev General Shareholders’ Meeting approves dividend payment for 2022
2023-03-24
Notice of Annual General Meeting
2023-03-20
AB InBev Files its Annual Report on Form 20-F for the Year Ended 31 December 2022
2023-03-09
Dealings by a director
2023-03-02
Anheuser-Busch InBev reports Fourth Quarter and Full Year 2022 Results
2022-12-02
Anheuser-Busch InBev Announces Pricing of Cash Tender Offers for up to USD 3.5 Billion Aggregate Purchase Price
2022-12-01
AB InBev Announces Early Results of Cash Tender Offers for up to USD 3.5 Billion Aggregate Purchase Price
2022-11-16
Anheuser-Busch InBev Launches Cash Tender Offers for up to USD 3.5 Billion Aggregate Purchase Price
2022-11-15
Dealings by a director
2022-10-27
Anheuser-Busch InBev Reports Third Quarter 2022 Results
2022-09-15
Disclosure Made According to the Requirements of the Royal Decree of 29 April 2019
2022-09-02
Disclosure Made According to the Requirements of the Royal Decree of 29 April 2019
2022-08-11
Disclosure Made According to the Requirements of the Royal Decree of 29 April 2019
2022-07-28
Second Quarter and Half Year 2022 Results
2022-07-05
Dealing in Securities by Directors
2022-06-29
Disclosure made according to the Requirements of the Royal Decree of 29 April 2019
2022-06-20
Dealing in Securities by a Director
2022-05-17
Dealings by Directors and an Associate of a Director