BUD vs. PEP: Anheuser-Busch InBev vs. PepsiCo Stock Comparison

August 16, 2026

How do Anheuser-Busch InBev (BUD) and PepsiCo (PEP) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Anheuser-Busch InBev (BUD) and PepsiCo (PEP) both belong to the Beverages industry, though BUD is classified under Brewers while PEP falls under Soft Drinks & Non-alcoholic Beverages.

PepsiCo (PEP) trades as ordinary local shares, while Anheuser-Busch InBev (BUD) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Anheuser-Busch InBev (BUD) and PepsiCo (PEP)
Profile Item	BUD	PEP
Name	Anheuser-Busch InBev S.A. ADR	PepsiCo, Inc.
Country/Region	Belgium	United States
GICS Sector	Consumer Staples	Consumer Staples
GICS Industry Group	Food, Beverage & Tobacco	Food, Beverage & Tobacco
GICS Industry	Beverages	Beverages
GICS Sub-Industry	Brewers	Soft Drinks & Non-alcoholic Beverages
Market Capitalization	157.00 billion USD	192.32 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	July 1, 2009	June 1, 1972
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

BUD

PEP

GSPC

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Anheuser-Busch InBev (BUD) and PepsiCo (PEP). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Anheuser-Busch InBev (BUD) and PepsiCo (PEP). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Anheuser-Busch InBev (BUD) and PepsiCo (PEP)
Metric	BUD	PEP
Total Return (1Y)	33.34%	-1.52%
Total Return (3Y, Annualized)	14.02%	-5.22%
Total Return (5Y, Annualized)	6.64%	1.05%

Risk Profile

Drawdown History

BUD

PEP

GSPC

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Anheuser-Busch InBev (BUD) and PepsiCo (PEP). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Anheuser-Busch InBev (BUD) and PepsiCo (PEP)
Metric	BUD	PEP
Volatility (1Y, Annualized)	23.38%	21.16%
Beta (5Y)	0.58	0.35
Max Drawdown (5Y)	-33.13%	-30.32%
Avg. Volume (3M)	1.96M	8.67M

Risk-Adjusted Performance

Risk-Return Positioning

BUD and PEP are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Anheuser-Busch InBev (BUD) and PepsiCo (PEP)
Metric	BUD	PEP
Sharpe Ratio (1Y)	1.26	-0.26
Sortino Ratio (1Y)	1.97	-0.39

Profitability

ROE (TTM)

PepsiCo (PEP) at 51.51% clears its industry range for ROE, a sharper capital-efficiency signal than Anheuser-Busch InBev (BUD) at 11.39%, which is closer to a typical peer reading.

BUD

Food, Beverage & Tobacco industry group

11.39%

Max: 34.02%
Q3: 17.32%
Median: 12.17%
BUD: 11.39%
Q1: 3.66%
Min: -16.01%

PEP

Food, Beverage & Tobacco industry group

51.51%

PEP: 51.51%
Max: 34.02%
Q3: 17.32%
Median: 12.17%
Q1: 3.66%
Min: -16.01%

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP): A comparison of their ROE against the Food, Beverage & Tobacco industry group benchmark.

Net Margin (TTM)

Anheuser-Busch InBev (BUD) at 14.90% retains a top-quartile share of revenue as profit, ahead of PepsiCo (PEP) at 10.79%, which keeps about the industry-typical share.

BUD

Food, Beverage & Tobacco industry group

14.90%

Max: 25.56%
BUD: 14.90%
Q3: 11.22%
Median: 5.94%
Q1: 1.08%
Min: -13.81%

PEP

Food, Beverage & Tobacco industry group

10.79%

Max: 25.56%
Q3: 11.22%
PEP: 10.79%
Median: 5.94%
Q1: 1.08%
Min: -13.81%

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP): A comparison of their net margin against the Food, Beverage & Tobacco industry group benchmark.

Operating Margin (TTM)

Anheuser-Busch InBev (BUD) at 27.34% operates in the top operating margin quartile, ahead of PepsiCo (PEP) at 16.84%, which runs around its industry’s norm.

BUD

Food, Beverage & Tobacco industry group

27.34%

Max: 35.93%
BUD: 27.34%
Q3: 17.10%
Median: 11.30%
Q1: 3.99%
Min: -11.04%

PEP

Food, Beverage & Tobacco industry group

16.84%

Max: 35.93%
Q3: 17.10%
PEP: 16.84%
Median: 11.30%
Q1: 3.99%
Min: -11.04%

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP): A comparison of their operating margin against the Food, Beverage & Tobacco industry group benchmark.

Profitability Metrics

Profitability metrics for Anheuser-Busch InBev (BUD) and PepsiCo (PEP)
Metric	BUD	PEP
ROE (TTM)	11.39%	51.51%
ROA (TTM)	4.88%	8.93%
Net Margin (TTM)	14.90%	10.79%
Operating Margin (TTM)	27.34%	16.84%
Gross Margin (TTM)	56.49%	54.17%

Growth

Revenue Growth

Both Anheuser-Busch InBev (BUD) at -0.75% and PepsiCo (PEP) at 2.25% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Anheuser-Busch InBev (BUD) at 16.10% and PepsiCo (PEP) at -13.67% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Anheuser-Busch InBev (BUD) and PepsiCo (PEP)
Metric	BUD	PEP
Revenue Growth (YoY)	-0.75%	2.25%
Revenue Growth (3Y CAGR)	0.88%	2.83%
EPS Growth (YoY)	16.10%	-13.67%
EPS Growth (3Y CAGR)	5.22%	-2.23%

Financial Strength

Current Ratio (MRQ)

Both Anheuser-Busch InBev (BUD) at 0.66 and PepsiCo (PEP) at 0.93 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

BUD

Food, Beverage & Tobacco industry group

0.66

Max: 4.39
Q3: 2.48
Median: 1.47
Q1: 1.00
BUD: 0.66
Min: 0.43

PEP

Food, Beverage & Tobacco industry group

0.93

Max: 4.39
Q3: 2.48
Median: 1.47
Q1: 1.00
PEP: 0.93
Min: 0.43

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP): A comparison of their current ratio against the Food, Beverage & Tobacco industry group benchmark.

Debt / Equity (MRQ)

Anheuser-Busch InBev (BUD) at 0.72 is near its industry mid-range for debt-to-equity ratio, while PepsiCo (PEP) at 2.39 sits above its benchmark range, pointing to a heavier debt load relative to equity.

BUD

Food, Beverage & Tobacco industry group

0.72

Max: 2.21
Q3: 1.13
BUD: 0.72
Median: 0.71
Q1: 0.31
Min: 0.00

PEP

Food, Beverage & Tobacco industry group

2.39

PEP: 2.39
Max: 2.21
Q3: 1.13
Median: 0.71
Q1: 0.31
Min: 0.00

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP): A comparison of their debt-to-equity ratio against the Food, Beverage & Tobacco industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Anheuser-Busch InBev (BUD) and PepsiCo (PEP)
Metric	BUD	PEP
Current Ratio (MRQ)	0.66	0.93
Debt / Equity (MRQ)	0.72	2.39
Net Debt / EBITDA	3.28	2.25

Dividends

Dividend Yield (TTM)

PepsiCo (PEP) at 4.09% delivers top-quartile income for its industry, while Anheuser-Busch InBev (BUD) at 1.46% pays a more typical yield — both are credible income propositions, PEP the richer one.

BUD

Food, Beverage & Tobacco industry group

1.46%

Max: 9.10%
Q3: 3.96%
Median: 2.53%
BUD: 1.46%
Q1: 0.00%
Min: 0.00%

PEP

Food, Beverage & Tobacco industry group

4.09%

Max: 9.10%
PEP: 4.09%
Q3: 3.96%
Median: 2.53%
Q1: 0.00%
Min: 0.00%

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP): A comparison of their dividend yield against the Food, Beverage & Tobacco industry group benchmark.

Dividend Payout Ratio (TTM)

Both Anheuser-Busch InBev (BUD) at 29.00% and PepsiCo (PEP) at 75.33% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

BUD

Food, Beverage & Tobacco industry group

29.00%

Max: 169.01%
Q3: 81.71%
Median: 46.29%
BUD: 29.00%
Q1: 0.00%
Min: 0.00%

PEP

Food, Beverage & Tobacco industry group

75.33%

Max: 169.01%
Q3: 81.71%
PEP: 75.33%
Median: 46.29%
Q1: 0.00%
Min: 0.00%

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP): A comparison of their payout ratio against the Food, Beverage & Tobacco industry group benchmark.

Dividend Metrics

Dividend metrics for Anheuser-Busch InBev (BUD) and PepsiCo (PEP)
Metric	BUD	PEP
Dividend Yield (TTM)	1.46%	4.09%
Dividend Payout Ratio (TTM)	29.00%	75.33%

Valuation

P/E Ratio (TTM)

Both Anheuser-Busch InBev (BUD) at 17.30 and PepsiCo (PEP) at 18.45 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

BUD

Food, Beverage & Tobacco industry group

17.30

Max: 43.35
Q3: 30.96
Median: 18.87
BUD: 17.30
Q1: 13.69
Min: 5.48

PEP

Food, Beverage & Tobacco industry group

18.45

Max: 43.35
Q3: 30.96
Median: 18.87
PEP: 18.45
Q1: 13.69
Min: 5.48

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP): A comparison of their P/E ratio against the Food, Beverage & Tobacco industry group benchmark.

P/S Ratio (TTM)

PepsiCo (PEP) at 1.98 is priced about in line with its industry on P/S ratio, while Anheuser-Busch InBev (BUD) at 2.51 sits in the pricier quartile — BUD costs more per dollar of sales.

BUD

Food, Beverage & Tobacco industry group

2.51

Max: 4.77
BUD: 2.51
Q3: 2.32
Median: 1.10
Q1: 0.56
Min: 0.00

PEP

Food, Beverage & Tobacco industry group

1.98

Max: 4.77
Q3: 2.32
PEP: 1.98
Median: 1.10
Q1: 0.56
Min: 0.00

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP): A comparison of their P/S ratio against the Food, Beverage & Tobacco industry group benchmark.

P/B Ratio (MRQ)

Measured against book value, both Anheuser-Busch InBev (BUD) at 10.07 and PepsiCo (PEP) at 8.70 look expensive — each P/B ratio sits above its industry’s benchmark range.

BUD

Food, Beverage & Tobacco industry group

10.07

BUD: 10.07
Max: 6.14
Q3: 3.27
Median: 1.77
Q1: 0.96
Min: 0.00

PEP

Food, Beverage & Tobacco industry group

8.70

PEP: 8.70
Max: 6.14
Q3: 3.27
Median: 1.77
Q1: 0.96
Min: 0.00

Anheuser-Busch InBev (BUD) vs. PepsiCo (PEP): A comparison of their P/B ratio against the Food, Beverage & Tobacco industry group benchmark.

Valuation Metrics

Valuation metrics for Anheuser-Busch InBev (BUD) and PepsiCo (PEP)
Metric	BUD	PEP
P/E Ratio (TTM)	17.30	18.45
P/S Ratio (TTM)	2.51	1.98
P/B Ratio (MRQ)	10.07	8.70
Free Cash Flow Yield (TTM)	6.81%	4.07%