Anheuser-Busch InBev (BUDFF) Operating Margin (2015 - 2025)
Anheuser-Busch InBev (BUDFF) reported Operating Margin of 23.39% for Q4 2025, down 419.0% on a YoY basis from 7.33% in Q4 2024, and down 16.91% quarter-over-quarter from 28.15% in Q3 2025.
Anheuser-Busch InBev (BUDFF) Operating Margin (2015 - 2025) Analysis & Trends
Anheuser-Busch InBev has reported Operating Margin for 11 years, with the latest figure at 23.39% in Q4 2025.
- For the quarter ending Q4 2025, Operating Margin fell 419.0% year-over-year to 23.39%; the trailing twelve-month figure through Dec 2025 stood at 25.97% (up 6.0% YoY), and the FY2025 full-year result was 25.97%, up 6.0% from the prior year.
- Operating Margin for Q4 2025 stood at 23.39%, down from 28.15% in the prior quarter.
- The five-year high for Operating Margin was 28.15% in Q3 2025, with the low at 22.97% in Q4 2023.
- Historically, Operating Margin has averaged 25.19% across 5 years, with a median of 24.86% in 2024.
- The largest YoY upside for Operating Margin was 3031 bps in 2021 against a maximum downside of 518 bps in 2021.
- Anheuser-Busch InBev's Operating Margin stood at 23.43% in 2021, then increased by 6 bps to 24.73% in 2022, then dropped by 7 bps to 22.97% in 2023, then rose by 20 bps to 27.58% in 2024, then declined by 15 bps to 23.39% in 2025.
- The last three Operating Margin figures came in at 23.39% (Q4 2025), 28.15% (Q3 2025), and 26.45% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Breweries | 4,105.18 Bn | 3,586.00 Bn | 387.52 Bn | 54.39% |
| 2 | Anheuser-Busch InBev | 140.72 Bn | 128.50 Bn | 8.61 Bn | 23.39% |
| 3 | Ambev | 33.67 Bn | 29.90 Bn | 2.42 Bn | 27.83% |
| 4 | Constellation Brands | 24.55 Bn | 24.45 Bn | 951.70 Mn | 23.00% |
| 5 | Mexican Economic Development | 19.03 Bn | 13.06 Bn | - | - |
| 6 | Molson Coors Beverage | 7.65 Bn | 7.39 Bn | 897.20 Mn | 9.50% |
| 7 | Boston Beer | 1.83 Bn | 1.66 Bn | 213.96 Mn | -43.89% |
| 8 | NFiniTi | - | - | - | - |
| 9 | Molson Coors Beverage | - | - | 897.20 Mn | 9.50% |
| 10 | Anheuser-Busch InBev | - | - | 8.61 Bn | 23.39% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 23.39% |
| Sep 30, 2025 | 28.15% |
| Jun 30, 2025 | 26.45% |
| Mar 31, 2025 | 25.96% |
| Dec 31, 2024 | 27.58% |
| Sep 30, 2024 | 26.36% |
| Jun 30, 2024 | 24.88% |
| Mar 31, 2024 | 24.84% |
| Dec 31, 2023 | 22.97% |
| Sep 30, 2023 | 23.60% |
| Jun 30, 2023 | 23.20% |
| Mar 31, 2023 | 24.32% |
| Dec 31, 2022 | 24.73% |
| Sep 30, 2022 | 25.78% |
| Jun 30, 2022 | 25.70% |
| Mar 31, 2022 | 24.16% |
| Dec 31, 2021 | 23.43% |
| Sep 30, 2021 | 27.65% |
| Jun 30, 2021 | 25.90% |
| Mar 31, 2021 | 24.77% |