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?
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.
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.
If Anheuser-Busch InBev has sharpened your focus on quality opportunities, do not stop here. Broaden your watchlist now and give your future self more options.
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