Market Pulse50Neutral

Anheuser-Busch InBev SA/NVOpportunity Rank #87(BUD) Intrinsic Value & DCF Analysis (2026)

Current Price

$68.55

Last updated: Mar 24, 2026

Price vs Intrinsic Value

$68.55
Price
$219.09
Intrinsic Value
Undervalued by 220%MOS: $175.27

Fundamental Score

72/100
Bullish

Weighted across 6 signals

Narrative Score

57/100
Improving

-1 vs previous

The intrinsic value of Anheuser-Busch InBev SA/NV (BUD) is estimated at $219.09 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $68.55, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 3.49% long-term growth rate and a 10.37% discount rate, reflecting expected future free cash flow and cost of capital.

The intrinsic value of Anheuser-Busch InBev SA/NV (BUD) is estimated at $219.09 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $68.55, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 3.49% long-term growth rate and a 10.37% discount rate, reflecting expected future free cash flow and cost of capital.

Valuation Details

$219.09
▲ 219.61% upside
20% margin of safety: $175.27
Years: 10Growth Rate: 3.49%
Want to create your own valuation? Create a free account.

Capital Efficiency

Average Quarterly ROIC
3.83%
Cost of Capital (estimated)9%
Value StatusUnderperforming Capital

The company is earning below its required return. This may indicate inefficient use of capital or excess cash that isn't being reinvested.

Complete historical ROIC is available with
.

Fundamental Details

72/100
BullishWeighted across 6 signals
DCF Discount
219.6% discount to price
100
FCF Yield
27.6% trailing FCF yield
100
ROIC vs WACC
ROIC 3.8% vs WACC 9.0% (0.4x)
21
Net Debt / FCF
1.6x net debt to FCF
41
Buybacks
Share count shrinking
80
FCF CAGR (5Y)
22.0% 5Y FCF CAGR
100
Strengths: DCF Discount, FCF Yield. Concerns: ROIC vs WACC.

Narrative Details

57/100
Improving
-1 vs previousVs 6-Month Baseline:Below Avg (28th pct)Weighted across 5 recent drivers
Trend: StableConfidence: 87%Updated: 3h ago
Sources: 41 (38 News · 3 Analyst)
Drivers(last 30 days)
28 news sentiment+0.5
7 regulatory scrutiny+0.2
2 earnings beat+0.0
Macro headwinds+0.0
3 analyst reiterations0.0

Investment Coach

Updated 12h ago
BUYConfidence: 62%
Thesis
Anheuser-Busch InBev SA/NV (BUD) is significantly undervalued with an estimated fair value 227% above its current price, supported by a strong fundamental score of 72 and a healthy free cash flow yield of 27.6%. Despite trailing returns relative to its cost of capital, the company’s robust buybacks and cash flow growth underpin a bullish investment case.
Key Risk
The primary risk is the negative spread between ROIC and WACC, indicating returns are currently below the company’s cost of capital.
Signals To Watch
  • Monitor whether the valuation discount remains above 10%.
  • Track ROIC versus WACC spread for sustained improvement.
  • Follow narrative trend for meaningful shifts in the score direction.
Ask the Coach - Available with
Historical Growth Rates
Free Cash Flow- - -Trend CAGR: 3.49%5 Year CAGR: 13.08%

Free Cash Flow (in millions)

TTM20252024202320222021202020192018201720162015201420132012201120102009200820072006
$37,372$18,596$18,885$17,931$18,094$20,216$13,810$17,722$18,653$20,379$15,056$18,780$18,468$17,767$16,626$15,968$12,235$10,878$8,755$7,590$5,715

How Intrinziq Estimates Fair Value

Intrinziq estimates Anheuser-Busch InBev SA/NV's intrinsic value using a discounted cash flow (DCF) model based on free cash flow trends and a market-based discount rate. The model projects future cash flows over ten years and discounts them using a market return assumption to estimate fair value.

Anheuser-Busch InBev SA/NVConsumer Defensive

Anheuser-Busch InBev SA/NV engages in the production, distribution, and sale of beer, alcoholic beverages, and soft drinks worldwide. It offers a portfolio of approximately 500 beer brands, which primarily include Budweiser, Corona, and Stella Artois; Beck's, Hoegaarden, Leffe, and Michelob Ultra; and Aguila, Antarctica, Bud Light, Brahma, Cass, Castle, Castle Lite, Cristal, Harbin, Jupiler, Modelo Especial, Quilmes, Victoria, Sedrin, and Skol brands. The company was founded in 1366 and is headquartered in Leuven, Belgium.