Anheuser-Busch Inbev SA (MIL:ABI)

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Price: 57.48 EUR 1.48%

Market Cap: 114B EUR

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Section:

Relative Value

The Relative Value of one ABI stock under the Base Case scenario is 100.83 EUR. Compared to the current market price of 57.48 EUR, Anheuser-Busch Inbev SA is Undervalued by 43%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

What is Relative Valuation?

How is Relative Value calculated?

ABI Relative Value

Base Case

Worst Case

Base Case

Best Case

Valuation Multiples

P/S

vs History	73
vs Industry	40

Median 5Y

2.1

Industry

1.7

Forward

1.8

More Details

24.7

P/E

vs History	36
vs Industry	22

Median 5Y

Industry

19.9

Forward

17.4

More Details

8.9

P/OCF

vs History	57
vs Industry	46

Median 5Y

Industry

13.6

More Details

55.1

P/FCFE

vs History	31
vs Industry	10

Median 5Y

-9.5

Industry

21.4

More Details

1.4

P/B

vs History	80
vs Industry	53

Median 5Y

1.6

Industry

2.2

More Details

3.1

EV/S

vs History	90
vs Industry	27

Median 5Y

3.4

Industry

1.9

Forward

2.8

More Details

5.7

EV/GP

vs History	84
vs Industry	39

Median 5Y

Industry

5.1

More Details

9.1

EV/EBITDA

vs History	85
vs Industry	46

Median 5Y

9.6

Industry

12.2

Forward

8.1

More Details

12.4

EV/EBIT

vs History	77
vs Industry	45

Median 5Y

Industry

15.7

Forward

10.6

More Details

13.7

EV/OCF

vs History	76
vs Industry	35

Median 5Y

14.3

Industry

14.6

More Details

21.1

EV/FCFF

vs History	82
vs Industry	24

Median 5Y

22.4

Industry

20.3

More Details

EV/IC

vs History	85
vs Industry	59

Median 5Y

Industry

1.6

More Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

		Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
BE	Anheuser-Busch Inbev SA MIL:ABI	114B EUR	2	24.7	9.1	12.4
BE	Anheuser Busch Inbev SA XETRA:1NBA	95.1B EUR	1.7	15.2	8.1	11.1
NL	Heineken NV AEX:HEIA	38.7B EUR	1.3	36.8	7	12.6
BR	Ambev SA BOVESPA:ABEV3	192.2B BRL	2.3	13.8	27.1	0
NL	Heineken Holding NV AEX:HEIO	16.3B EUR	0.5	30.3	4.6	9.4
JP	Asahi Group Holdings Ltd TSE:2502	2.5T JPY	0.9	14.4	8.9	14.5
CN	Tsingtao Brewery Co Ltd SSE:600600	106.4B CNY	3.3	24.5	16.4	16.4
CA	Molson Coors Canada Inc OTC:MXGBF	13.3B USD	0	0	0	0
DK	Carlsberg A/S CSE:CARL B	90.6B DKK	1.2	-2.2	7.5	10.4
HK	Budweiser Brewing Company APAC Ltd HKEX:1876	96.8B HKD	1.9	17.3	4.7	8.5
US	Molson Coors Beverage Co NYSE:TAP	12.1B USD	1	12.9	7	9.7

			Revenue Growth	P/S to Growth
BE	Anheuser-Busch Inbev SA MIL:ABI	Average P/S: 1.6 2	19%	0.1
BE	Anheuser Busch Inbev SA XETRA:1NBA	1.7	12%	0.1
NL	Heineken NV AEX:HEIA	1.3	8%	0.2
BR	Ambev SA BOVESPA:ABEV3	2.3	26%	0.1
NL	Heineken Holding NV AEX:HEIO	0.5	29%	0
JP	Asahi Group Holdings Ltd TSE:2502	0.9	12%	0.1
CN	Tsingtao Brewery Co Ltd SSE:600600	3.3	4%	0.9
CA	Molson Coors Canada Inc OTC:MXGBF	Not Available	N/A	N/A
DK	Carlsberg A/S CSE:CARL B	1.2	27%	0
HK	Budweiser Brewing Company APAC Ltd HKEX:1876	1.9	11%	0.2
US	Molson Coors Beverage Co NYSE:TAP	1	1%	1.9

			Earnings Growth	P/E to Growth
BE	Anheuser-Busch Inbev SA MIL:ABI	Average P/E: 21.1 24.7	60%	0.4
BE	Anheuser Busch Inbev SA XETRA:1NBA	15.2	45%	0.3
NL	Heineken NV AEX:HEIA	36.8	40%	0.9
BR	Ambev SA BOVESPA:ABEV3	13.8	19%	0.7
NL	Heineken Holding NV AEX:HEIO	30.3	109%	0.3
JP	Asahi Group Holdings Ltd TSE:2502	14.4	46%	0.3
CN	Tsingtao Brewery Co Ltd SSE:600600	24.5	27%	0.9
CA	Molson Coors Canada Inc OTC:MXGBF	Not Available	N/A	N/A
DK	Carlsberg A/S CSE:CARL B	Negative Multiple: -2.2	N/A	N/A
HK	Budweiser Brewing Company APAC Ltd HKEX:1876	17.3	34%	0.5
US	Molson Coors Beverage Co NYSE:TAP	12.9	30%	0.4

			EBITDA Growth	EV/EBITDA to Growth
BE	Anheuser-Busch Inbev SA MIL:ABI	Average EV/EBITDA: 10 9.1	28%	0.3
BE	Anheuser Busch Inbev SA XETRA:1NBA	8.1	14%	0.6
NL	Heineken NV AEX:HEIA	7	5%	1.5
BR	Ambev SA BOVESPA:ABEV3	27.1	25%	1.1
NL	Heineken Holding NV AEX:HEIO	4.6	N/A	N/A
JP	Asahi Group Holdings Ltd TSE:2502	8.9	20%	0.5
CN	Tsingtao Brewery Co Ltd SSE:600600	16.4	51%	0.3
CA	Molson Coors Canada Inc OTC:MXGBF	Not Available	N/A	N/A
DK	Carlsberg A/S CSE:CARL B	7.5	39%	0.2
HK	Budweiser Brewing Company APAC Ltd HKEX:1876	4.7	12%	0.4
US	Molson Coors Beverage Co NYSE:TAP	7	11%	0.7

			EBIT Growth	EV/EBIT to Growth
BE	Anheuser-Busch Inbev SA MIL:ABI	Average EV/EBIT: 11.7 12.4	35%	0.4
BE	Anheuser Busch Inbev SA XETRA:1NBA	11.1	21%	0.5
NL	Heineken NV AEX:HEIA	12.6	40%	0.3
BR	Ambev SA BOVESPA:ABEV3	Not Available	28%	N/A
NL	Heineken Holding NV AEX:HEIO	9.4	80%	0.1
JP	Asahi Group Holdings Ltd TSE:2502	14.5	N/A	N/A
CN	Tsingtao Brewery Co Ltd SSE:600600	16.4	27%	0.6
CA	Molson Coors Canada Inc OTC:MXGBF	Not Available	N/A	N/A
DK	Carlsberg A/S CSE:CARL B	10.4	45%	0.2
HK	Budweiser Brewing Company APAC Ltd HKEX:1876	8.5	15%	0.6
US	Molson Coors Beverage Co NYSE:TAP	9.7	13%	0.7

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Anheuser-Busch Inbev SA
MIL:ABI

Relative Value

Valuation Multiples

Multiples Across Competitors

ABI Competitors Multiples
Anheuser-Busch Inbev SA Competitors

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Company

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52 Week Range	55.68 60.61
Price Target

Anheuser-Busch Inbev SA MIL:ABI

Relative Value

Valuation Multiples

Multiples Across Competitors

ABI Competitors Multiples Anheuser-Busch Inbev SA Competitors

See Also

Company

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Anheuser-Busch Inbev SA
MIL:ABI

ABI Competitors Multiples
Anheuser-Busch Inbev SA Competitors