AB InBev is the undisputed global beer market leader with Budweiser, Corona, Stella Artois, and hundreds of local brands. The post-SABMiller leverage is still the main investment debate — net debt/EBITDA near 3.5x is declining but slowly. Premium mix (Michelob Ultra, Corona Cero non-alcoholic) is performing well and offsetting volume pressure in the US value segment. Brazil (40% of profits) is the key growth market and has been resilient. The Bud Light controversy impact has faded and US market share has stabilised.
Thesis reviewed May 29, 2026
Anheuser-Busch InBev SA/NV is headquartered in Belgium, which is currently showing elevated risk signals.
🇧🇪Belgium72NEUTRALView Belgium risk detail →🛍Consumer22NEUTRAL| Ticker | Company | Score | Gap | Signal Δ | Action |
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Investors who hold ABI.BR may also have indirect exposure through these country funds.
AB InBev Q4 revenue per hectolitre +5.2% on premium mix gains; volume +1.8%
Brazil operations deliver 12% revenue growth; Dominican Republic and Colombia strong
Corona Cero non-alcoholic brand reaches €200M revenue in first full year
Estimates · Yahoo Finance · Not audited figures