Anheuser-Busch InBev SA/NV

Fundamental analysis
Anheuser-Busch InBev SA/NV also known as AB InBev is a Belgian international beverage and beer producer. It owns more than 400 beer brands, including the American Budweiser and other brands such as Corona and Stella Artois.
The company is now benefiting from the growing demand for beers and beverages. In general, the demand for tourism is growing, people are traveling on vacation in large numbers (see Ryanair’s analysis). Related to this is the expected increase in the consumption of beverages and alcohol on a global scale.
The company’s turnover has been growing steadily since Covid. For 2022, it increased its turnover by 11.2%. It grew both in the beer segment (+ 1.8%) and in the beverage segment (+ 5.2%). Already in 2021, it achieved a turnover that was higher than before covid in 2019. The company sells both draft and bottled beer.
Geographically, the company’s sales are distributed evenly:

• 29% North America
• 31% Central America
• 17% South America
• 13 Europe, Middle East and Africa (EMEA)
• 10% Asia-Pacific
  In 2022, major sporting events, especially the World Cup in Qatar, helped the company achieve good results. The next big football events will be Afcon and Euro in 2024.
  The results
  In the first quarter of 2023, the company is doing well. Turnover managed to increase again by 13.2%. EBITDA grows by 13.6%. The company is experiencing a large increase especially in South America (EBITDA + 52.6%). The improving results led the rating agencies Moody’s and S&P Global to improve the company’s rating to A3, respectively. AND-.
  The company is very successful in developing its products directly for end customers (direct-to-customer products). The turnover exceeded more than 100 million USD. These are the delivery services Zé Delivery and TaDa Delivery and a network of custom pipes for PerfectDraft customers.
  The company’s PE is 14, the current industry average is 44. The company also has higher product margins than its competitors due to the many premium brands in its portfolio.
  Technical analysis
  According to moving averages, the company is in an upward trend. A few days ago, there was a bounce from resistance at $67.7 and a subsequent fall to support at $53. Support withstood this fall.
  At the same time, thanks to the sell-off, the RSI fell into a buy signal.
  The first major resistance is at $62.
  Conclusion
  From the point of view of technical analysis, Anheuser-Busch InBev SA/NV offers an interesting setup. Two buy signals (rebound from support and RSI) are supported by the long-term uptrend of the moving averages. Technical analysis gives the same signals that do not contradict each other.
  From a fundamental analysis, the company is doing well, increasing volumes and maintaining a higher margin with a lower valuation of economic indicators such as PE. This supports the company’s positive outlook for the future.
  In the longer term, however, it must be taken into account that there is no major sporting event this year that would increase turnover, and the events held in 2024 are outside the company’s main markets. Europe and Africa have the smallest share of the company’s EBIDTA, and therefore the scope for a jump in sales and share price is smaller.
  Resources:
  https://finance.yahoo.com/quote/BUD?p=BUD
  https://www.ab-inbev.com/investors/
  https://cdn.builder.io/o/assets%2F2e5c7fb020194c1a8ee80f743d0b923e%2F940123faf68a448b847668ec1e986c0e?alt=media&token=305163a1-c761-4ae0-a9d1-10aca656f862&api Key=2e5c7fb020194c1a8ee80f743d0b923e
  https://cdn.builder.io/o/assets%2F2e5c7fb020194c1a8ee80f743d0b923e%2F8d5e433b53d84a189a1bc5b1fffd1454?alt=media&token=490ccbcc-7217-4640-9031-17742bdbdb18&apiKey= 2e5c7fb020194c1a8ee80f743d0b923e
  https://en.wikipedia.org/wiki/AB_InBev
  https://simplywall.st/stocks/us/food-beverage-tobacco/nyse-bud/anheuser-busch-inbev
  https://seekingalpha.com/symbol/BUD