Digital Push Gains Pace: Is BEES Driving AB InBev's Incremental Value?

Anheuser-Busch InBev SA/NV BUD, alias AB InBev, is gaining meaningful traction with its digital transformation, with the BEES platform emerging as a critical driver of incremental value. The company’s push to digitize its vast ecosystem, spanning more than 6 million customers globally, is already delivering scale benefits, improved efficiencies and new revenue streams. As of 2025, BEES was live in 29 markets, with 72% of AB InBev’s revenues captured through B2B digital platforms, underscoring rapid adoption and deep integration into its route-to-market strategy.

The platform’s gross merchandise value (GMV) was $52.5 billion in 2025, growing 12% year over year, signaling strong underlying demand and increased customer engagement. Beyond digitization, the real value creation lies in monetization. BEES Marketplace, which enables third-party product sales, saw GMV surge 61% to $3.5 billion, driven by the expansion of its asset-light third-party model. This not only enhances assortment for retailers but also boosts margins and capital efficiency for AB InBev.

BEES strengthens customer stickiness by embedding ordering, payments and analytics into a single platform, improving convenience and decision-making for small and medium retailers. This data-driven ecosystem allows AB InBev to optimize pricing, promotions and inventory, reinforcing its revenue management capabilities.

While still evolving, BEES is increasingly becoming more than just a digital ordering tool; it is a scalable marketplace and a monetization engine. Coupled with the company’s growing DTC ecosystem, which generated $1.3 billion in revenues in 2025, AB InBev is building a comprehensive digital flywheel.

Overall, BEES appears well-positioned to drive incremental value through higher revenues, better margins and stronger customer relationships, making it a key pillar of AB InBev’s long-term growth strategy.

BUD’s Zacks Rank & Share Price Performance

Shares of this Zacks Rank #3 (Hold) company have rallied 13% in the past three months, outperforming the industry and the broader Consumer Staples sector’s rallies of 4.2% and 4.1%, respectively. The stock has also outpaced the S&P 500’s decline of 2% in the same period.

BUD Stock's 3-Month Performance

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AB InBev currently trades at a forward 12-month P/E ratio of 16.78X, which is higher than the industry average of 14.72X and below the sector average of 16.99X. 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.

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Stocks to Consider

Constellation Brands Inc. STZ is the third-largest beer company and a leading, high-end wine company in the United States. 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 Constellation Brands’ fiscal 2026 sales and earnings suggests declines of 10.7% and 15.5%, respectively, from the year-ago reported figures. STZ delivered a trailing four-quarter earnings surprise of 8.6%, on average.

Carlsberg CABGY 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 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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Constellation Brands Inc (STZ): Free Stock Analysis Report

Anheuser-Busch InBev SA/NV (BUD): Free Stock Analysis Report

Carlsberg AS (CABGY): Free Stock Analysis Report

Heineken NV (HEINY): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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