Beer Business was Anheuser-Busch InBev’s largest segment in fiscal 2025, bringing in $53.05B of $59.32B (89%).
| Segments [axis] | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Beer Business | $51.54B | $53.87B | $53.66B | $53.05B | |||||||
| North America | — | — | — | — | |||||||
| Middle America | — | — | — | — | |||||||
| South America | — | — | — | — | |||||||
| C- E- Carter | — | — | — | — | |||||||
| Latin America North | — | — | — | — | |||||||
| Emea | — | — | — | — | |||||||
| Asia Pacific | — | — | — | — | |||||||
| Non-Beer Business | $6.24B | $5.52B | $6.11B | $6.27B | |||||||
| Latin America West | — | — | — | — | |||||||
| Latin America South | — | — | — | — | |||||||
| Global Export & Holding Companies | — | — | — | — | |||||||
| Total | $57.79B | $59.38B | $59.77B | $59.32B |
Anheuser-Busch InBev brought in $59.32B from its two segments in fiscal 2025, the year ended December 31, 2025. That was down 0.8% from $59.77B in fiscal 2024. Beer Business was the largest at $53.05B (89.4%), ahead of Non-Beer Business at $6.27B (10.6%).
Compared with fiscal 2024, Non-Beer Business grew 2.5% to $6.27B, while Beer Business fell 1.1% to $53.05B. From fiscal 2022 to 2025, combined revenue from these segments grew from $57.79B to $59.32B, a compound annual growth rate of 0.9%. Beer Business' share held steady at about 89.4%.
Middle America was Anheuser-Busch InBev’s largest segment in fiscal 2025, bringing in $17.38B of $59.32B (29%).
| Segment | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| North America | $16.57B | $15.07B | $14.66B | $14.21B | |||
| Middle America | $14.18B | $16.35B | $17.07B | $17.38B | |||
| South America | $11.60B | $12.04B | $12.42B | $11.95B | |||
| Emea | $8.12B | $8.59B | $9.00B | $9.50B | |||
| Asia Pacific | $6.53B | $6.82B | $6.20B | $5.69B | |||
| Global Export & Holding Companies | $790.00M | $508.00M | $418.00M | $588.00M | |||
| Total | $57.79B | $59.38B | $59.77B | $59.32B |
Anheuser-Busch InBev brought in $59.32B from its six segments in fiscal 2025, the year ended December 31, 2025. That was down 0.7% from $59.77B in fiscal 2024. Middle America was the largest at $17.38B (29.3%), ahead of North America at $14.21B (23.9%) and South America at $11.95B (20.2%). The other three segments brought in $15.78B combined.
Compared with fiscal 2024, Emea grew fastest, up 5.5% to $9.50B, while Asia Pacific fell the most, down 8.1% to $5.69B. From fiscal 2022 to 2025, combined revenue from these segments grew from $57.79B to $59.32B, a compound annual growth rate of 0.9%. Middle America's share of the total rose from 24.5% to 29.3%.
Non-Guarantors was Anheuser-Busch InBev’s largest revenue line in fiscal 2015, bringing in $31.06B of $43.50B (71%).
| Consolidated and separate financial statements [axis] | FY 2015 |
|---|---|
| Non-Guarantors | $31.06B |
| Subsidiary Guarantors | $14.10B |
| Eliminations | -$1.66B |
| Total | $43.50B |
Anheuser-Busch InBev brought in $43.50B from its three revenue lines in fiscal 2015, the year ended December 31, 2015. Non-Guarantors was the largest at $31.06B (71.4%), ahead of Subsidiary Guarantors at $14.10B (32.4%).
The total is net of Eliminations, which took $1.66B off revenue in fiscal 2015.
Anheuser-Busch InBev (BUD) reports its revenue by segments [axis], by segment and by consolidated and separate financial statements [axis]. In fiscal 2025, Beer Business was its largest segment, bringing in $53.05B (89.4% of the total), followed by Non-Beer Business at $6.27B (10.6%).
Beer Business was Anheuser-Busch InBev's largest segment in fiscal 2025, bringing in $53.05B, or 89.4% of the $59.32B total across its two segments.
Non-Guarantors was Anheuser-Busch InBev's largest revenue line in fiscal 2015, bringing in $31.06B, or 71.4% of the $43.50B total across its three revenue lines.
Non-Beer Business grew faster than Beer Business in fiscal 2025, up 2.5% from $6.11B to $6.27B. Beer Business fell 1.1% to $53.05B.
Every figure comes from Anheuser-Busch InBev's annual financial filings, as reported. Each line keeps the name Anheuser-Busch InBev gives it, and years follow its fiscal calendar.
Anheuser-Busch InBev's revenue by segments [axis] goes back to fiscal 2015, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.