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

Anheuser-Busch InBev brought in $59.3B of revenue in fiscal 2025, Kroger $147.6B in fiscal 2025. Revenue changed by -0.7% at Anheuser-Busch InBev and +0.4% at Kroger on the year before, so Kroger grew faster. Anheuser-Busch InBev kept 11.5% of its revenue as net profit, Kroger 0.7%. Free cash flow was $11.2B at Anheuser-Busch InBev and $3.5B at Kroger.

Side by side, latest fiscal year

BUDKR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (January 31, 2026)
Revenue$59.3B$147.6B
Revenue growth-0.7%+0.4%
Net income$6.8B$1B
Net margin11.5%0.7%
Free cash flow$11.2B$3.5B
Free cash flow margin18.9%2.3%
Earnings per share (diluted)$3.39$1.54
Cash$11.6B$3.3B
Debt$73B$15.9B
Price to earningsn/a38.1
Market value$153.8B$36B
Dividend yieldn/a2.33%
Rank by revenue in sector#8 of 125 · Consumer staples#2 of 125 · 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: $59.3BKR FY2018: $121.9BKR FY2019: $122.3BKR FY2020: $132.5BKR FY2021: $137.9BKR FY2022: $148.3BKR FY2024: $150BKR FY2025: $147.1BKR FY2025: $147.6BFY18FY19FY20FY21FY22FY23FY24FY25
BUD $59.3BKR $147.6B
Net income
BUD FY2018: $4.4BBUD FY2019: $9.2BBUD FY2020: $1.4BBUD FY2021: $4.7BBUD FY2022: $6BBUD FY2023: $5.3BBUD FY2024: $5.9BBUD FY2025: $6.8BKR FY2018: $3.1BKR FY2019: $1.7BKR FY2020: $2.6BKR FY2021: $1.7BKR FY2022: $2.2BKR FY2024: $2.2BKR FY2025: $2.7BKR FY2025: $1BFY18FY19FY20FY21FY22FY23FY24FY25
BUD $6.8BKR $1B
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%KR FY2018: 2.6%KR FY2019: 1.4%KR FY2020: 2.0%KR FY2021: 1.2%KR FY2022: 1.5%KR FY2024: 1.4%KR FY2025: 1.8%KR FY2025: 0.7%FY18FY19FY20FY21FY22FY23FY24FY25
BUD 11.5%KR 0.7%
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%KR FY2019: +0.4%KR FY2020: +8.4%KR FY2021: +4.1%KR FY2022: +7.5%KR FY2024: +1.2%KR FY2025: -1.9%KR FY2025: +0.4%FY19FY20FY21FY22FY23FY24FY25
BUD -0.7%KR +0.4%
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: $11.2BKR FY2018: $1.2BKR FY2019: $1.5BKR FY2020: $4BKR FY2021: $3.6BKR FY2022: $1.4BKR FY2024: $2.9BKR FY2025: $1.8BKR FY2025: $3.5BFY18FY19FY20FY21FY22FY23FY24FY25
BUD $11.2BKR $3.5B

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

Questions about Anheuser-Busch InBev and Kroger

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

Kroger is bigger by revenue: $147.6B 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 Kroger?

Anheuser-Busch InBev had a net margin of 11.5% in fiscal 2025; Kroger had 0.7% in fiscal 2025.

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

In their latest fiscal years revenue changed by -0.7% at Anheuser-Busch InBev and +0.4% at Kroger.

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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