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Is AB InBev's Beyond Beer Push a Meaningful Growth Driver?
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Anheuser-Busch InBev SA/NV (BUD - Free Report) , alias AB InBev, is pushing into the Beyond Beer category, which is emerging as a meaningful growth lever as the company adapts to evolving consumer preferences. Traditionally known for its global beer portfolio, the brewer is expanding into adjacent categories, such as ready-to-drink (RTD) cocktails, hard seltzers and flavored alcoholic beverages to capture demand beyond traditional beer consumption. According to the company’s recent update, the Beyond Beer portfolio gained strong momentum, with revenues rising 23% in 2025, supported by brands such as Cutwater, Nutrl and Mike’s Hard Lemonade.
The expansion reflects AB InBev’s broader strategy of participating across more drinking occasions and consumer segments. Demand for convenient, flavored and lower-alcohol beverages has been growing globally, particularly among younger consumers. By strengthening its Beyond Beer lineup, the company aims to capture this shift while complementing its core beer offerings. The strategy also aligns with AB InBev’s premiumization focus, as many RTD and spirit-based products command higher price points and can enhance the overall revenue mix.
Beyond Beer products are also helping the brewer maintain portfolio relevance in markets where beer consumption growth has moderated. Strong performances from brands like Cutwater and Mike’s Hard Lemonade contributed to portfolio momentum, while innovations in spirits-based RTDs further expanded the company’s presence in fast-growing beverage segments.
However, the category still represents a smaller portion of AB InBev’s overall business compared with its core beer operations. Sustaining growth will require continued innovation, strong brand investment and effective distribution through the company’s global network.
Overall, AB InBev’s Beyond Beer push appears to be more than a diversification experiment. With double-digit revenue growth and rising consumer interest in alternative alcoholic beverages, the segment is shaping up as a promising complementary growth driver, alongside the brewer’s traditional beer portfolio.
BUD’s Zacks Rank & Share Price Performance
Shares of this Zacks Rank #3 (Hold) company have rallied 14.8% in the past three months, outperforming both the industry and the broader Consumer Staples sector’s rallies of 5.7% and 6.3%, respectively. The stock has also outpaced the S&P 500’s decline of 0.5% in the same period.
BUD Stock's 3-Month Performance
Image Source: Zacks Investment Research
Is BUD a Value Play Stock?
AB InBev currently trades at a forward 12-month P/E ratio of 16.87X, which is higher than the industry average of 15.17X and below the sector average of 17.35X. This valuation positions the stock at a premium relative to its industry peers, suggesting that investors may be pricing in stronger growth prospects, brand strength or operational efficiency compared with competitors.
The Zacks Consensus Estimate for Keurig’s 2026 sales and earnings suggests growth of 57.5% and 5.9%, respectively, from the year-ago reported figures. KDP delivered a trailing four-quarter earnings surprise of 3.1%, on average.
Carlsberg (CABGY - Free Report) is a brewing company and has operations in Northern and Western Europe, Eastern Europe, and Asia. The company currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for Carlsberg’s 2026 sales and earnings indicates growth of 34.9% and 17.8%, respectively, from the year-ago reported numbers.
Heineken (HEINY - Free Report) is engaged in producing and distributing beverages, including beer, cider, soft drinks, and other beverages. The company currently has a Zacks Rank of 2.
The Zacks Consensus Estimate for Heineken’s 2026 sales implies a decline of 6.3% from the previous year’s reported number, while the consensus mark for EPS suggests growth of 18.2%.
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Is AB InBev's Beyond Beer Push a Meaningful Growth Driver?
Anheuser-Busch InBev SA/NV (BUD - Free Report) , alias AB InBev, is pushing into the Beyond Beer category, which is emerging as a meaningful growth lever as the company adapts to evolving consumer preferences. Traditionally known for its global beer portfolio, the brewer is expanding into adjacent categories, such as ready-to-drink (RTD) cocktails, hard seltzers and flavored alcoholic beverages to capture demand beyond traditional beer consumption. According to the company’s recent update, the Beyond Beer portfolio gained strong momentum, with revenues rising 23% in 2025, supported by brands such as Cutwater, Nutrl and Mike’s Hard Lemonade.
The expansion reflects AB InBev’s broader strategy of participating across more drinking occasions and consumer segments. Demand for convenient, flavored and lower-alcohol beverages has been growing globally, particularly among younger consumers. By strengthening its Beyond Beer lineup, the company aims to capture this shift while complementing its core beer offerings. The strategy also aligns with AB InBev’s premiumization focus, as many RTD and spirit-based products command higher price points and can enhance the overall revenue mix.
Beyond Beer products are also helping the brewer maintain portfolio relevance in markets where beer consumption growth has moderated. Strong performances from brands like Cutwater and Mike’s Hard Lemonade contributed to portfolio momentum, while innovations in spirits-based RTDs further expanded the company’s presence in fast-growing beverage segments.
However, the category still represents a smaller portion of AB InBev’s overall business compared with its core beer operations. Sustaining growth will require continued innovation, strong brand investment and effective distribution through the company’s global network.
Overall, AB InBev’s Beyond Beer push appears to be more than a diversification experiment. With double-digit revenue growth and rising consumer interest in alternative alcoholic beverages, the segment is shaping up as a promising complementary growth driver, alongside the brewer’s traditional beer portfolio.
BUD’s Zacks Rank & Share Price Performance
Shares of this Zacks Rank #3 (Hold) company have rallied 14.8% in the past three months, outperforming both the industry and the broader Consumer Staples sector’s rallies of 5.7% and 6.3%, respectively. The stock has also outpaced the S&P 500’s decline of 0.5% in the same period.
BUD Stock's 3-Month Performance
Image Source: Zacks Investment Research
Is BUD a Value Play Stock?
AB InBev currently trades at a forward 12-month P/E ratio of 16.87X, which is higher than the industry average of 15.17X and below the sector average of 17.35X. This valuation positions the stock at a premium relative to its industry peers, suggesting that investors may be pricing in stronger growth prospects, brand strength or operational efficiency compared with competitors.
Image Source: Zacks Investment Research
Stocks to Consider
Keurig Dr Pepper Inc. (KDP - Free Report) is a prominent integrated brand owner, manufacturer, and distributor of beverages across the United States, Canada, Mexico and the Caribbean. The company currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Keurig’s 2026 sales and earnings suggests growth of 57.5% and 5.9%, respectively, from the year-ago reported figures. KDP delivered a trailing four-quarter earnings surprise of 3.1%, on average.
Carlsberg (CABGY - Free Report) is a brewing company and has operations in Northern and Western Europe, Eastern Europe, and Asia. The company currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for Carlsberg’s 2026 sales and earnings indicates growth of 34.9% and 17.8%, respectively, from the year-ago reported numbers.
Heineken (HEINY - Free Report) is engaged in producing and distributing beverages, including beer, cider, soft drinks, and other beverages. The company currently has a Zacks Rank of 2.
The Zacks Consensus Estimate for Heineken’s 2026 sales implies a decline of 6.3% from the previous year’s reported number, while the consensus mark for EPS suggests growth of 18.2%.