Anheuser-Busch InBev (BUD) Operating Expenses (2015 - 2025)
Anheuser-Busch InBev posted quarterly Operating Expenses of -$4786.0 for Q4 2025, down 3.98% year-on-year from -$4984.2 in Q4 2024, and down 5.53% on a QoQ basis from -$4535.0 in Q3 2025.
Anheuser-Busch InBev (BUD) has 11 years of Operating Expenses data on file, last reported at -$4786.0 in Q4 2025.
- For the quarter ending Q4 2025, Operating Expenses fell 3.98% year-over-year to -$4786.0; the trailing twelve-month figure through Dec 2025 stood at -$2.3 billion (up 10.13% YoY), and the FY2025 full-year result was -$4786.0, down 3.98% from the prior year.
- Operating Expenses for Q4 2025 stood at -$4786.0, down from -$4535.0 in the prior quarter.
- Across five years, Operating Expenses topped out at $2.0 billion in Q2 2023 and bottomed at -$17.6 billion in Q4 2021.
- The 5-year median for Operating Expenses is -$4.1 billion (2021), against an average of -$4.9 billion.
- The widest annual swing landed in 2023, when Operating Expenses surged 123.14%; it then tumbled 226.23% in 2024.
- A 5-year view of Operating Expenses shows it stood at -$17.6 billion in 2021, then surged by 73.87% to -$4.6 billion in 2022, then grew by 1.2% to -$4.5 billion in 2023, then jumped by 100.0% to -$4603.0 in 2024, then retreated by 3.98% to -$4786.0 in 2025.
- The last three Operating Expenses figures came in at -$4786.0 (Q4 2025), -$4535.0 (Q3 2025), and -$2.3 billion (Q2 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | United Breweries | 4,105.18 Bn | 3,730.53 Bn | 387.52 Bn | -58.25 Bn |
| 2 | Anheuser-Busch InBev | 144.87 Bn | 132.65 Bn | 8.61 Bn | -4,786.00 |
| 3 | Mexican Economic Development | 102.46 Bn | 96.50 Bn | - | - |
| 4 | Constellation Brands | 26.22 Bn | 26.12 Bn | 951.70 Mn | 420.50 Mn |
| 5 | Ambev | 9.36 Bn | 5.68 Bn | 2.42 Bn | -295.42 Mn |
| 6 | Molson Coors Beverage | 8.04 Bn | 7.77 Bn | 897.20 Mn | 610.00 Mn |
| 7 | Boston Beer | 1.99 Bn | 1.83 Bn | 213.96 Mn | 404.42 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -4,786.00 |
| Sep 30, 2025 | -4,535.00 |
| Jun 30, 2025 | -2.26 Bn |
| Mar 31, 2025 | -4,188.00 |
| Dec 31, 2024 | -4,603.00 |
| Sep 30, 2024 | -4,490.00 |
| Jun 30, 2024 | -2.52 Bn |
| Mar 31, 2024 | -4,435.00 |
| Dec 31, 2023 | -4.54 Bn |
| Sep 30, 2023 | -13.64 Bn |
| Jun 30, 2023 | 1.99 Bn |
| Mar 31, 2023 | -4.34 Bn |
| Dec 31, 2022 | -4.59 Bn |
| Sep 30, 2022 | -12.96 Bn |
| Jun 30, 2022 | -8.62 Bn |
| Mar 31, 2022 | -4.12 Bn |
| Dec 31, 2021 | -17.57 Bn |
| Sep 30, 2021 | -12.95 Bn |
| Jun 30, 2021 | -8.57 Bn |
| Mar 31, 2021 | -4.06 Bn |
| Dec 31, 2020 | -15.37 Bn |
| Sep 30, 2020 | -11.20 Bn |
| Jun 30, 2020 | -7.26 Bn |
| Mar 31, 2020 | -3.72 Bn |
| Dec 31, 2019 | -16.42 Bn |
| Sep 30, 2019 | -4.19 Bn |
| Jun 30, 2019 | -8.08 Bn |
| Mar 31, 2019 | -3.94 Bn |
| Dec 31, 2018 | -16.81 Bn |
| Sep 30, 2018 | -12.72 Bn |
| Jun 30, 2018 | -8.84 Bn |
| Mar 31, 2018 | -4.32 Bn |
| Dec 31, 2017 | 9.59 Bn |
| Sep 30, 2017 | -4.65 Bn |
| Jun 30, 2017 | -8.78 Bn |
| Mar 31, 2017 | -4.23 Bn |
| Sep 30, 2016 | -13.30 Bn |
| Jun 30, 2016 | -4.68 Bn |
| Mar 31, 2016 | -3.09 Bn |
| Dec 31, 2015 | -4.52 Bn |
| Sep 30, 2015 | -1.88 Bn |