BUD
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | 17.15 | 24.38 | 20.22 | 25.99 |
| Price to Sales | 1.68 | 2.19 | 2.09 | 2.24 |
| Book Value Per Common Share | 39.61 | 41.26 | 37.00 | 34.66 |
| Price to Book | 1.26 | 1.57 | 1.62 | 1.75 |
| Price to Operating Cash Flow | 6.66 | 9.82 | 9.09 | 8.21 |
| Price to Free Cash Flow | 8.96 | 15.10 | 14.85 | 13.27 |
| Enterprise Value to EBITDA | 48736.68 | 67237.49 | 62754.08 | 67437.98 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-06-30 |
|---|---|---|---|
| Price to Earnings | 82.08 | 79.66 | |
| Price to Sales | 8.94 | 6.76 | |
| Book Value Per Common Share | 41.31 | 39.61 | 39.82 |
| Price to Book | 1.66 | 1.26 | 1.46 |
| Price to Operating Cash Flow | |||
| Price to Free Cash Flow | |||
| Enterprise Value to EBITDA | 310271.41 | 251566.53 |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | 10.19 | -10.77 | 27.47 | |
| Revenue YoY | 0.65 | 2.76 | 6.41 | |
| EBITDA YoY | 6.45 | 0.45 | 6.71 | |
| Net Profit YoY | 9.62 | -10.52 | 27.82 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-06-30 |
|---|---|---|---|
| Earning YoY | -40.78 | ||
| Revenue YoY | 10.10 | -1.36 | |
| EBITDA YoY | 20.57 | -4.52 | |
| Net Profit YoY | -21.97 | -41.09 |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 5.69 | 5.16 | 4.97 | 6.17 |
| Quick Ratio | 0.51 | 0.45 | 0.46 | 0.51 |
| Current Ratio | 0.70 | 0.63 | 0.67 | 0.70 |
| Debt to Equity | 1.33 | 1.37 | 1.53 | 1.74 |
| Long-Term Debt to Equity | 0.96 | 0.97 | 1.12 | 1.31 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-06-30 |
|---|---|---|---|
| Cash Per Common Share | 3.72 | 5.69 | 3.76 |
| Quick Ratio | 0.43 | 0.51 | 0.47 |
| Current Ratio | 0.64 | 0.70 | 0.69 |
| Debt to Equity | 1.31 | 1.33 | 1.36 |
| Long-Term Debt to Equity | 0.95 | 0.96 | 1.02 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | 2.83 | 2.44 | 2.80 | 2.15 |
| ROE | 6.60 | 5.76 | 7.08 | 5.89 |
| Gross Margin | 55.25 | 53.86 | 54.48 | 57.47 |
| Operating Margin | 24.68 | 23.00 | 24.06 | 23.45 |
| EBITDA Margin | 33.96 | 32.11 | 32.85 | 32.76 |
| Net Profit Margin | 9.80 | 8.99 | 10.33 | 8.60 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-06-30 |
|---|---|---|---|
| ROA | 0.79 | 0.59 | |
| ROE | 1.83 | 1.38 | |
| Gross Margin | 56.29 | 55.23 | |
| Operating Margin | 28.83 | 26.49 | |
| EBITDA Margin | 28.83 | 26.49 | |
| Net Profit Margin | 11.17 | 8.22 |
Dividends
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Dividend Yield | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend Payout Ratio | 45.64 | 56.41 | 40.91 | 50.62 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-06-30 |
|---|---|---|---|
| Dividend Yield | |||
| Dividend Payout Ratio |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 206,637,000.00 | 219,340,000.00 | 212,943,000.00 | 217,627,000.00 |
| Current Assets | 22,999,000.00 | 23,367,000.00 | 23,186,000.00 | 23,949,000.00 |
| Cash and Short-Term Investments | 11,395,000.00 | 10,399,000.00 | 9,997,000.00 | 12,393,000.00 |
| Cash and Cash Equivalents | 11,174,000.00 | 10,332,000.00 | 9,900,000.00 | 12,019,000.00 |
| Short-Term Investments | 221,000.00 | 67,000.00 | 97,000.00 | 374,000.00 |
| Net Receivables | 5,505,000.00 | 6,372,000.00 | 5,734,000.00 | 5,077,000.00 |
| Inventory | 4,940,000.00 | 5,463,000.00 | 6,525,000.00 | 5,284,000.00 |
| Other Current Assets | 1,159,000.00 | 1,133,000.00 | 930,000.00 | 1,195,000.00 |
| Non-Current Assets | 183,637,000.00 | 195,973,000.00 | 189,757,000.00 | 193,678,000.00 |
| Property, Plant, Equipment Net | 23,503,000.00 | 26,818,000.00 | 26,671,000.00 | 26,677,000.00 |
| Goodwill | 110,479,000.00 | 117,043,000.00 | 113,010,000.00 | 115,796,000.00 |
| Intangible Assets | 40,035,000.00 | 41,286,000.00 | 40,210,000.00 | 40,430,000.00 |
| Long-Term Investments | 4,780,000.00 | 5,050,000.00 | 4,831,000.00 | 6,035,000.00 |
| Non-Current Deferred Assets | 2,493,000.00 | 2,935,000.00 | 2,300,000.00 | 1,969,000.00 |
| Other Non-Current Assets | 2,347,000.00 | 2,841,000.00 | 2,735,000.00 | 2,771,000.00 |
| Liabilities | 117,937,000.00 | 126,664,000.00 | 128,665,000.00 | 138,287,000.00 |
| Current Liabilities | 33,066,000.00 | 37,156,000.00 | 34,383,000.00 | 34,184,000.00 |
| Payables and Expenses | 25,540,000.00 | 27,123,000.00 | 27,473,000.00 | 26,576,000.00 |
| Account Payables | 16,010,000.00 | 17,729,000.00 | 18,589,000.00 | 17,810,000.00 |
| Current Accrued Liabilities | 1,336,000.00 | 1,407,000.00 | 1,428,000.00 | 1,501,000.00 |
| Short-Term Debt | 1,449,000.00 | 4,004,000.00 | 1,111,000.00 | 1,461,000.00 |
| Other Current Liabilities | 6,077,000.00 | 6,029,000.00 | 5,799,000.00 | 6,147,000.00 |
| Non-Current Liabilities | 84,871,000.00 | 89,508,000.00 | 94,282,000.00 | 104,103,000.00 |
| Long-Term Debt | 70,721,000.00 | 74,164,000.00 | 78,880,000.00 | 87,369,000.00 |
| Other Non-Current Liabilities | 14,150,000.00 | 15,344,000.00 | 15,402,000.00 | 16,734,000.00 |
| Equity | 88,700,000.00 | 92,676,000.00 | 84,278,000.00 | 79,340,000.00 |
| Shareholders Equity | 78,237,000.00 | 81,848,000.00 | 73,398,000.00 | 68,669,000.00 |
| Capital Stock | 1,736,000.00 | 1,736,000.00 | 1,736,000.00 | 1,736,000.00 |
| Share Premium | 17,620,000.00 | 17,620,000.00 | 17,620,000.00 | 17,620,000.00 |
| Retained Earnings | 46,577,000.00 | 42,215,000.00 | 38,823,000.00 | 33,882,000.00 |
| Treasury Shares | 3,886,000.00 | 3,465,000.00 | 3,706,000.00 | 3,994,000.00 |
| Accumulated Other Comprehensive Income | 16,190,000.00 | 23,741,000.00 | 18,924,000.00 | 19,424,000.00 |
| Minority Interest | 10,463,000.00 | 10,828,000.00 | 10,880,000.00 | 10,671,000.00 |
| Debt | 72,170,000.00 | 78,168,000.00 | 79,991,000.00 | 88,830,000.00 |
| Net Debt | 58,692,000.00 | 65,007,000.00 | 67,599,000.00 | 74,534,000.00 |
| Common Shares Outstanding | 1,975,432.02 | 1,983,827.78 | 1,983,786.14 | 1,981,024.59 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 59,768,000.00 | 59,380,000.00 | 57,786,000.00 | 54,304,000.00 |
| Cost Of Revenue | 26,744,000.00 | 27,396,000.00 | 26,305,000.00 | 23,097,000.00 |
| Interest Income | 733,000.00 | 733,000.00 | 462,000.00 | 231,000.00 |
| Interest Expense | 4,184,000.00 | 4,532,000.00 | 4,379,000.00 | 4,273,000.00 |
| Non-Interest Expense | 18,340,000.00 | 18,173,000.00 | 17,555,000.00 | 17,575,000.00 |
| Gross Profit | 33,024,000.00 | 31,984,000.00 | 31,481,000.00 | 31,207,000.00 |
| Operating Expenses | 17,875,000.00 | 17,724,000.00 | 17,016,000.00 | 17,002,000.00 |
| Selling, General and Administrative Expenses | 18,340,000.00 | 18,173,000.00 | 17,555,000.00 | 17,575,000.00 |
| Other Operating Expenses | -416,000.00 | -405,000.00 | -338,000.00 | -347,000.00 |
| Operating Income | 15,149,000.00 | 14,260,000.00 | 14,465,000.00 | 14,205,000.00 |
| Net Non-Operating Income | 226,000.00 | 256,000.00 | 220,000.00 | 167,000.00 |
| EBT | 10,568,000.00 | 9,124,000.00 | 9,524,000.00 | 8,463,000.00 |
| Income Tax | 3,152,000.00 | 2,234,000.00 | 1,928,000.00 | 2,350,000.00 |
| Net Income Including Non-Controlling Interests | 7,416,000.00 | 6,890,000.00 | 7,596,000.00 | 6,113,000.00 |
| Net Income Non-Controlling Interests | -1,561,000.00 | -1,550,000.00 | -1,628,000.00 | -1,444,000.00 |
| Net Income | 5,855,000.00 | 5,341,000.00 | 5,969,000.00 | 4,670,000.00 |
| EBIT | 14,752,000.00 | 13,656,000.00 | 13,903,000.00 | 12,736,000.00 |
| Deprecation and Amortization | 5,544,000.00 | 5,411,000.00 | 5,078,000.00 | 5,052,000.00 |
| EBITDA | 20,296,000.00 | 19,067,000.00 | 18,981,000.00 | 17,788,000.00 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 2,003,000.00 | 2,016,000.00 | 2,013,000.00 | 2,007,000.00 |
| Average Shares Outstanding Diluted | 2,003,000.00 | 2,016,000.00 | 2,050,000.00 | 2,045,000.00 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | 15,055,000.00 | 13,265,000.00 | 13,298,000.00 | 14,799,000.00 |
| Operating Net Income | 7,416,000.00 | 6,891,000.00 | 7,597,000.00 | 6,114,000.00 |
| Deprecation and Amortization | 5,544,000.00 | 5,411,000.00 | 5,078,000.00 | 5,052,000.00 |
| Deferred Income Tax | 3,152,000.00 | 2,234,000.00 | 1,928,000.00 | 2,350,000.00 |
| Share Based Compensation | 644,000.00 | 570,000.00 | 448,000.00 | 510,000.00 |
| Change in Working Capital | -23,000.00 | -1,540,000.00 | -346,000.00 | 2,459,000.00 |
| Other Operating Activities | -1,678,000.00 | -301,000.00 | -1,407,000.00 | -1,686,000.00 |
| Investing Cash Flow | -3,259,000.00 | -4,390,000.00 | -4,337,000.00 | -5,878,000.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -3,735,000.00 | -4,482,000.00 | -4,838,000.00 | -5,498,000.00 |
| Net Purchase/Sale of Investments Net | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Business | -46,000.00 | 9,000.00 | -70,000.00 | -444,000.00 |
| Other Investing Activities | 522,000.00 | 83,000.00 | 571,000.00 | 64,000.00 |
| Financing Cash Flow | -9,854,000.00 | -8,560,000.00 | -10,904,000.00 | -11,598,000.00 |
| Net Issuance/Repayment of Debt | -4,617,000.00 | -3,676,000.00 | -7,784,000.00 | -9,042,000.00 |
| Net Issuance/Repurchase of Equity | -937,000.00 | -362,000.00 | 0 | 0 |
| Dividends Paid | -2,672,000.00 | -3,013,000.00 | -2,442,000.00 | -2,364,000.00 |
| Other Financing Activities | -1,628,000.00 | -1,509,000.00 | -678,000.00 | -192,000.00 |
| Net Change in Cash | 1,942,000.00 | 315,000.00 | -1,942,000.00 | -2,678,000.00 |
| Cash at Beginning of Period | 10,314,000.00 | 9,890,000.00 | 12,043,000.00 | 15,247,000.00 |
| Cash at End of Period | 11,174,000.00 | 10,314,000.00 | 9,890,000.00 | 12,043,000.00 |
| Free Cash Flow | 11,192,000.00 | 8,627,000.00 | 8,138,000.00 | 9,159,000.00 |
| Breakdown | 2025-06-30 | 2024-12-31 | 2024-06-30 |
|---|---|---|---|
| Assets | 211,107,000.00 | 206,637,000.00 | 210,720,000.00 |
| Current Assets | 21,215,000.00 | 22,999,000.00 | 21,026,000.00 |
| Cash and Short-Term Investments | 7,267,000.00 | 11,395,000.00 | 7,548,000.00 |
| Cash and Cash Equivalents | 7,062,000.00 | 11,174,000.00 | 7,296,000.00 |
| Short-Term Investments | 205,000.00 | 221,000.00 | 252,000.00 |
| Net Receivables | 7,079,000.00 | 5,505,000.00 | 6,682,000.00 |
| Inventory | 5,475,000.00 | 4,940,000.00 | 5,567,000.00 |
| Other Current Assets | 1,394,000.00 | 1,159,000.00 | 1,229,000.00 |
| Non-Current Assets | 189,892,000.00 | 183,637,000.00 | 189,694,000.00 |
| Property, Plant, Equipment Net | 23,857,000.00 | 23,503,000.00 | 25,086,000.00 |
| Goodwill | 114,782,000.00 | 110,479,000.00 | 113,451,000.00 |
| Intangible Assets | 41,098,000.00 | 40,035,000.00 | 40,702,000.00 |
| Long-Term Investments | 5,030,000.00 | 4,780,000.00 | 5,050,000.00 |
| Non-Current Deferred Assets | 2,730,000.00 | 2,493,000.00 | 2,771,000.00 |
| Other Non-Current Assets | 2,395,000.00 | 2,347,000.00 | 2,634,000.00 |
| Liabilities | 119,693,000.00 | 117,937,000.00 | 121,478,000.00 |
| Current Liabilities | 33,009,000.00 | 33,066,000.00 | 30,566,000.00 |
| Payables and Expenses | 23,574,000.00 | 25,540,000.00 | 22,852,000.00 |
| Account Payables | 22,188,000.00 | 16,010,000.00 | 21,708,000.00 |
| Current Accrued Liabilities | 0 | 1,336,000.00 | 0 |
| Short-Term Debt | 3,600,000.00 | 1,449,000.00 | 2,257,000.00 |
| Other Current Liabilities | 5,835,000.00 | 6,077,000.00 | 5,457,000.00 |
| Non-Current Liabilities | 86,684,000.00 | 84,871,000.00 | 90,912,000.00 |
| Long-Term Debt | 71,980,000.00 | 70,721,000.00 | 75,943,000.00 |
| Other Non-Current Liabilities | 14,704,000.00 | 14,150,000.00 | 14,969,000.00 |
| Equity | 91,414,000.00 | 88,700,000.00 | 89,242,000.00 |
| Shareholders Equity | 80,671,000.00 | 78,237,000.00 | 78,517,000.00 |
| Capital Stock | 1,736,000.00 | 1,736,000.00 | 1,736,000.00 |
| Share Premium | 17,620,000.00 | 17,620,000.00 | 17,620,000.00 |
| Retained Earnings | 47,641,000.00 | 46,577,000.00 | 43,543,000.00 |
| Treasury Shares | 4,158,000.00 | 3,886,000.00 | 4,158,000.00 |
| Accumulated Other Comprehensive Income | 17,832,000.00 | 16,190,000.00 | 19,774,000.00 |
| Minority Interest | 10,743,000.00 | 10,463,000.00 | 10,725,000.00 |
| Debt | 75,580,000.00 | 72,170,000.00 | 78,200,000.00 |
| Net Debt | 66,184,000.00 | 58,692,000.00 | 68,385,000.00 |
| Common Shares Outstanding | 1,952,641.91 | 1,975,432.02 | 1,971,986.64 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|
| Revenues | 15,133,000.00 | 15,004,000.00 | 13,628,000.00 | 14,841,000.00 | 15,046,000.00 | 0 |
| Cost Of Revenue | 6,596,000.00 | 6,558,000.00 | 6,044,000.00 | 6,644,000.00 | 6,680,000.00 | 0 |
| Interest Income | 0 | 0 | 30,000.00 | 638,000.00 | 34,000.00 | 25,000.00 |
| Interest Expense | 903,000.00 | 0 | 818,000.00 | 1,393,000.00 | 870,000.00 | 960,000.00 |
| Non-Interest Expense | 4,535,000.00 | 4,624,000.00 | 4,188,000.00 | 4,602,000.00 | 4,490,000.00 | 0 |
| Gross Profit | 8,537,000.00 | 8,446,000.00 | 7,583,000.00 | 8,197,000.00 | 8,366,000.00 | 0 |
| Operating Expenses | 4,332,000.00 | 4,433,000.00 | 3,996,000.00 | 4,685,000.00 | 4,275,000.00 | 0 |
| Selling, General and Administrative Expenses | 4,535,000.00 | 4,624,000.00 | 4,188,000.00 | 4,602,000.00 | 4,490,000.00 | 0 |
| Other Operating Expenses | -203,000.00 | -191,000.00 | -192,000.00 | 132,000.00 | -215,000.00 | 0 |
| Operating Income | 4,205,000.00 | 4,013,000.00 | 3,587,000.00 | 3,512,000.00 | 4,091,000.00 | 0 |
| Net Non-Operating Income | 0 | 0 | 0 | 0 | 0 | -90,000.00 |
| EBT | 2,259,000.00 | 2,434,000.00 | 3,538,000.00 | 2,539,000.00 | 3,248,000.00 | 0 |
| Income Tax | 726,000.00 | 0 | 664,000.00 | 848,000.00 | 758,000.00 | 752,000.00 |
| Net Income Including Non-Controlling Interests | 1,533,000.00 | 1,030,000.00 | 3,538,000.00 | 1,691,000.00 | 2,490,000.00 | 0 |
| Net Income Non-Controlling Interests | -478,000.00 | -348,000.00 | -396,000.00 | -471,000.00 | -418,000.00 | 0 |
| Net Income | 1,054,000.00 | 1,676,000.00 | 2,148,000.00 | 1,220,000.00 | 2,071,000.00 | 0 |
| EBIT | 3,162,000.00 | 4,325,000.00 | 3,587,000.00 | 3,932,000.00 | 4,118,000.00 | 0 |
| EBITDA | 3,162,000.00 | 4,325,000.00 | 3,587,000.00 | 3,932,000.00 | 4,118,000.00 | 0 |
| EPS | 0.00 | 0 | 0.00 | 0.00 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0 | 0.00 | 0.00 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 1,986,000.00 | 0 | 1,994,000.00 | 2,003,000.00 | 2,004,000.00 | 2,005,000.00 |
| Average Shares Outstanding Diluted | 1,986,000.00 | 0 | 1,994,000.00 | 2,003,000.00 | 2,004,000.00 | 2,005,000.00 |
| Breakdown |
|---|
| Operating Cash Flow |
| Operating Net Income |
| Deprecation and Amortization |
| Deferred Income Tax |
| Share Based Compensation |
| Change in Working Capital |
| Other Operating Activities |
| Investing Cash Flow |
| Capital Expenditure |
| Net Purchase/Sale of PPE |
| Net Purchase/Sale of Investments Net |
| Net Purchase/Sale of Business |
| Other Investing Activities |
| Financing Cash Flow |
| Net Issuance/Repayment of Debt |
| Net Issuance/Repurchase of Equity |
| Dividends Paid |
| Other Financing Activities |
| Net Change in Cash |
| Cash at Beginning of Period |
| Cash at End of Period |
| Free Cash Flow |