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Anheuser-Busch InBev vs Jbs: revenue, profit, margins and growth compared

Anheuser-Busch InBev brought in $59.3B of revenue in fiscal 2025, Jbs $86.2B in fiscal 2025. Revenue changed by -0.7% at Anheuser-Busch InBev and +11.7% at Jbs on the year before, so Jbs grew faster. Anheuser-Busch InBev kept 11.5% of its revenue as net profit, Jbs 2.3%. Free cash flow was $11.2B at Anheuser-Busch InBev and $832.7M at Jbs.

Side by side, latest fiscal year

BUDJBS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$59.3B$86.2B
Revenue growth-0.7%+11.7%
Net income$6.8B$2B
Net margin11.5%2.3%
Free cash flow$11.2B$832.7M
Free cash flow margin18.9%1.0%
Earnings per share (diluted)$3.39$1.89
Cash$11.6B$4.6B
Debt$73B$191M
Price to earningsn/an/a
Market value$168.6B$13.2B
Dividend yieldn/an/a
Rank by revenue in sector#8 of 160 · Consumer staples#4 of 160 · Consumer staples

Over the years

Revenue
BUD FY2018: $53BBUD FY2019: $52.3BBUD FY2020: $46.9BBUD FY2021: $54.3BBUD FY2022: $57.8BBUD FY2023: $59.4BBUD FY2024: $59.8BBUD FY2025: $59.3BJBS FY2023: $72.9BJBS FY2025: $77.2BJBS FY2025: $86.2BFY18FY19FY20FY21FY22FY23FY24FY25
BUD $59.3BJBS $86.2B
Net income
BUD FY2018: $4.4BBUD FY2019: $9.2BBUD FY2020: $1.4BBUD FY2021: $4.7BBUD FY2022: $6BBUD FY2023: $5.3BBUD FY2024: $5.9BBUD FY2025: $6.8BJBS FY2023: -$198.9MJBS FY2025: $1.8BJBS FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25
BUD $6.8BJBS $2B
Net margin
BUD FY2018: 8.2%BUD FY2019: 17.5%BUD FY2020: 3.0%BUD FY2021: 8.6%BUD FY2022: 10.3%BUD FY2023: 9.0%BUD FY2024: 9.8%BUD FY2025: 11.5%JBS FY2023: -0.3%JBS FY2025: 2.3%JBS FY2025: 2.3%FY18FY19FY20FY21FY22FY23FY24FY25
BUD 11.5%JBS 2.3%
Revenue growth
BUD FY2019: -1.3%BUD FY2020: -10.4%BUD FY2021: +15.8%BUD FY2022: +6.4%BUD FY2023: +2.8%BUD FY2024: +0.7%BUD FY2025: -0.7%JBS FY2025: +5.8%JBS FY2025: +11.7%FY19FY20FY21FY22FY23FY24FY25
BUD -0.7%JBS +11.7%
Free cash flow
BUD FY2018: $10.1BBUD FY2019: $8.9BBUD FY2020: $7.1BBUD FY2021: $9.2BBUD FY2022: $8.1BBUD FY2023: $8.6BBUD FY2024: $11.2BBUD FY2025: $11.2BJBS FY2023: $876.6MJBS FY2025: $2.7BJBS FY2025: $832.7MFY18FY19FY20FY21FY22FY23FY24FY25
BUD $11.2BJBS $832.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Anheuser-Busch InBev and Jbs

Which is bigger by revenue, Anheuser-Busch InBev or Jbs?

Jbs is bigger by revenue: $86.2B in fiscal 2025, against $59.3B for Anheuser-Busch InBev in fiscal 2025.

Which keeps more of its revenue as profit, Anheuser-Busch InBev or Jbs?

Anheuser-Busch InBev had a net margin of 11.5% in fiscal 2025; Jbs had 2.3% in fiscal 2025.

Which grew revenue faster, Anheuser-Busch InBev or Jbs?

In their latest fiscal years revenue changed by -0.7% at Anheuser-Busch InBev and +11.7% at Jbs.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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