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 β 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 moderate signals.
π§πͺBelgium48NEUTRALView Belgium risk detail βπConsumer22NEUTRAL| Ticker | Company | Score | Gap | Signal Ξ | Action |
|---|---|---|---|---|---|
| JD | JD.com Inc | 28 | +13% | β2% | EARLY |
| NIO | NIO Inc | 28 | -10% | β2% | AVOID |
| LI | Li Auto Inc | 28 | +7% | β2% | NEUTRAL |
| BTI | British American Tobacco PLC | 28 | +14% | β2% | EARLY |
| DEO | Diageo PLC | 28 | +8% | β2% | NEUTRAL |
| RACE | Ferrari NV | 28 | +17% | β2% | EARLY |
| TM | Toyota Motor Corporation | 28 | +12% | β2% | EARLY |
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 β¬200M revenue in first full year
Estimates Β· Yahoo Finance Β· Not audited figures