Anheuser-Busch InBev SA/NV (BUD): gross margin, 10 filed years
Gross margin at Anheuser-Busch InBev SA/NV was 55.9% in FY2025, the newest filed year. Across the 10 computed years from FY2016 it ranged from 53.9% (FY2023) to 62.4% (FY2018), with a median of 57.8%.
Tonight's figure on the company page: 55.9%, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | Gross margin | Read from |
|---|---|---|
| FY2016 | 60.9% | 20-F/A, filed 2018-04-04 |
| FY2017 | 61.8% | 20-F/A, filed 2018-04-04 |
| FY2018 | 62.4% | 20-F, filed 2019-03-22 |
| FY2019 | 61.1% | 20-F, filed 2020-03-24 |
| FY2020 | 58.1% | 20-F, filed 2021-03-19 |
| FY2021 | 57.5% | 20-F, filed 2022-03-18 |
| FY2022 | 54.5% | 20-F, filed 2023-03-17 |
| FY2023 | 53.9% | 20-F, filed 2024-03-11 |
| FY2024 | 55.3% | 20-F, filed 2025-03-12 |
| FY2025 | 55.9% | 20-F, filed 2026-03-03 |
How each year is computed
Gross profit / revenue x 100
Each year is a ratio of lines in that year's filed annual report, with the nightly recompute's own rules for what counts as a filed line. Nothing is estimated, smoothed or filled in: a year that cannot be computed says why.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.