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Anheuser-Busch InBev (ENXTBR:ABI) Lifts Dividend After Solid Q3 As Value Case Holds

Simply Wall St·11/01/2026 02:32:10
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Anheuser-Busch InBev (ENXTBR:ABI) just paired a higher interim dividend of €0.40 per share with solid Q3 2026 earnings, including revenue of US$16,512 million and net income of US$1,597 million.

Against this backdrop, Anheuser-Busch InBev’s share price has climbed 10.91% over the past month and 32.28% year to date. The 1 year total shareholder return of 37.67% and 5 year total shareholder return of 44.22% point to momentum that has been building rather than fading.

Scan how Anheuser-Busch InBev’s latest dividend move compares with other income-focused opportunities by reviewing our hand-picked 222 dividend fortresses across global markets.

Anheuser-Busch InBev is clearly generating cash and returning it to shareholders through a higher dividend and share buybacks. After this run in the share price, is that strong backdrop already fully reflected in the valuation, or not yet?

Most Popular Narrative: 14% Undervalued

The most followed narrative for Anheuser-Busch InBev pegs fair value at €83.36, above the last close at €71.96. This frames the recent dividend lift and buybacks as part of a broader value story rather than just a short-term pop.

The shift in capital allocation from a focus on deleveraging, after net debt to EBITDA moved from almost 5x to 2.86x and roughly US$25b of debt reduction, toward higher dividends, a US$5.5b share repurchase already completed and US$3.7b remaining on the current buyback, can support EPS growth and improve return on equity.

See why 55 investors see Anheuser-Busch InBev as 14% undervalued.

Result: Fair Value of €83.36 (UNDERVALUED)

Still, the bullish narrative on Anheuser-Busch InBev hinges on China stabilising and on capital returns not stretching the balance sheet just as conditions turn less friendly.

Find out about the key risks to this Anheuser-Busch InBev narrative.

Next Steps

Conflicted by the mix of optimism and risk around Anheuser-Busch InBev right now? Consider acting promptly, evaluate the thesis for yourself in detail, then weigh the 4 key rewards and 1 important warning sign.

Looking for more investment ideas beyond Anheuser-Busch InBev?

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