Anheuser-busch Inbev SA income statement

In fiscal 2025, Anheuser-busch Inbev SA reported revenue of $59.32bn, down 0.7% on the year before, operating income of $15.40bn (a 26.0% margin) and net income of $6.84bn, or $3.39 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Anheuser-busch Inbev SA: income statement, annual
Fiscal year	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	43.1	45.5	54.9	53.0	52.3	46.9	54.3	57.8	59.4	59.8	59.3
Cost of revenue	17.1	17.8	21.0	19.9	20.4	19.6	23.1	26.3	27.4	26.7	26.1
Gross profit	26.5	27.7	33.9	33.1	32.0	27.2	31.2	31.5	32.0	33.0	33.2
Research and development	0.2	0.2	0.3	0.3	0.3	0.3	0.3	—	—	—	—
Selling and marketing	4.3	4.5	5.7	5.6	5.5	5.1	5.9	6.4	6.3	6.2	6.1
General and administrative	2.6	2.9	3.8	3.4	3.5	3.4	4.4	4.4	4.7	5.0	4.7
Operating income	13.9	12.9	16.5	16.4	16.1	9.6	13.8	14.5	14.0	15.5	15.4
Interest expense	1.8	4.1	4.3	0.2	4.2	−4.0	3.7	3.6	0.3	0.3	0.3
Income before tax	12.5	4.3	10.3	7.7	12.8	2.1	8.5	9.5	9.1	10.6	11.3
Income tax	2.6	1.6	1.7	2.6	2.8	1.9	2.4	1.9	2.2	3.2	2.9
Net income	8.3	1.2	8.0	4.4	9.2	1.4	4.7	6.0	5.3	5.9	6.8
Diluted EPS	$4.96	$0.71	$3.98	$2.17	$4.53	$0.69	$2.28	$2.91	$2.60	$2.86	$3.39

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Anheuser-busch Inbev SA's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Anheuser-busch Inbev SA.