Anheuser-Busch InBev SA/NV

ENXTBR:ABI Stock Report

Market Cap: €111.1b

Anheuser-Busch InBev Valuation

Is ABI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ABI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ABI (€56.04) is trading below our estimate of fair value (€128.94)

Significantly Below Fair Value: ABI is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for ABI?

Other financial metrics that can be useful for relative valuation.

ABI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue3.3x
Enterprise Value/EBITDA10.7x
PEG Ratio1.6x

Price to Earnings Ratio vs Peers

How does ABI's PE Ratio compare to its peers?

The above table shows the PE ratio for ABI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average28.2x
HEIA Heineken
22.7x11.5%€52.3b
ABEV3 Ambev
13.1x6.3%R$189.6b
LOTB Lotus Bakeries
58.4x10.8%€7.5b
HEIO Heineken Holding
18.5xn/a€21.7b
ABI Anheuser-Busch InBev
22.3x13.9%€111.1b

Price-To-Earnings vs Peers: ABI is good value based on its Price-To-Earnings Ratio (22.3x) compared to the peer average (28.2x).


Price to Earnings Ratio vs Industry

How does ABI's PE Ratio compare vs other companies in the European Beverage Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a10.1%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a10.1%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: ABI is expensive based on its Price-To-Earnings Ratio (22.3x) compared to the European Beverage industry average (18x).


Price to Earnings Ratio vs Fair Ratio

What is ABI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ABI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.3x
Fair PE Ratio40.7x

Price-To-Earnings vs Fair Ratio: ABI is good value based on its Price-To-Earnings Ratio (22.3x) compared to the estimated Fair Price-To-Earnings Ratio (40.7x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ABI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€56.04
€67.52
+20.5%
9.9%€84.59€55.97n/a24
Apr ’25€56.46
€66.44
+17.7%
10.1%€84.96€54.52n/a23
Mar ’25€55.78
€65.21
+16.9%
10.6%€84.79€53.64n/a24
Feb ’25€57.43
€65.26
+13.6%
10.1%€82.72€53.67n/a25
Jan ’25€58.42
€62.82
+7.5%
10.8%€81.11€48.62n/a25
Dec ’24€58.25
€62.95
+8.1%
11.1%€81.66€48.95n/a25
Nov ’24€53.38
€64.41
+20.7%
10.9%€84.78€48.73n/a26
Oct ’24€52.51
€66.07
+25.8%
10.8%€85.96€52.04n/a28
Sep ’24€51.96
€64.10
+23.4%
11.3%€83.22€50.38n/a28
Aug ’24€51.52
€63.51
+23.3%
11.6%€82.08€50.00n/a28
Jul ’24€51.83
€63.91
+23.3%
10.7%€82.95€52.89n/a26
Jun ’24€50.32
€65.30
+29.8%
12.7%€84.35€40.52n/a27
May ’24€59.10
€64.04
+8.4%
13.0%€81.96€39.47n/a27
Apr ’24€61.33
€62.81
+2.4%
13.6%€82.44€39.70€56.4626
Mar ’24€56.62
€64.22
+13.4%
14.0%€88.65€40.61€55.7828
Feb ’24€55.02
€62.16
+13.0%
13.9%€86.04€39.42€57.4328
Jan ’24€56.27
€60.66
+7.8%
12.6%€75.08€40.44€58.4228
Dec ’23€56.89
€61.60
+8.3%
14.3%€80.13€41.14€58.2529
Nov ’23€51.59
€63.90
+23.9%
16.2%€85.39€43.28€53.3828
Oct ’23€46.75
€67.17
+43.7%
16.1%€87.03€44.11€52.5128
Sep ’23€47.95
€66.05
+37.8%
15.4%€84.80€44.24€51.9628
Aug ’23€51.53
€64.20
+24.6%
15.2%€82.24€42.90€51.5228
Jul ’23€52.28
€65.68
+25.6%
15.9%€86.03€43.04€51.8328
Jun ’23€51.50
€64.14
+24.5%
15.7%€84.32€42.60€50.3228
May ’23€55.40
€65.29
+17.8%
14.7%€85.18€44.90€59.1028
Apr ’23€54.95
€64.54
+17.5%
15.9%€83.36€42.99€61.3328

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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