Back to top

To search, just start typing...



Please select which division you would like to log in to.

Investment Idea: Anheuser-Busch InBev

0 shares 0 likes

Investment Idea: Anheuser-Busch InBev

  • Our recommendation for ANH SJ is overweight.
  • We believe AB InBev is a good-quality company with an attractive and sustainable operating margin and a reliable cash conversion.
  • Operating margins across the group geographies are well ahead of peers, making further efficiency-enabled outperformance less likely.
  • Despite management believing that acquisitive growth and the extraction of synergies from acquisitions is a core competency of the group, balance sheet flexibility will likely limit such growth.
Copyright © PSG Konsult Ltd (1998-2021), All Rights Reserved. FAIS affiliates of the PSG Konsult Group are authorised financial services providers.