As a Friday list, I thought I’d post a reference of 14 of the largest listed beer brewing companies in our universe by market cap. It’s worth noting that Anheuser Busch InBev (perhaps most famous for Budweiser) is larger than the other 13 combined, it shows its economy of scale in having a higher than average return on assets (8.5% vs 4.5%) and higher than average gross margins (59% vs 44%) than other beer brewers. It is unfortunate that this economy of scale does not translate into taste, at least for a microbrew connoisseur like myself who believes larger mass-produced brews just don’t taste as good.
The 2017 list of 14 of the largest listed beer brewers by market cap:
| RIC | Name | USD Market Cap (Millions) |
| BUD / ABI.BR | Anheuser Busch Inbev SA NV | $178,951 |
| HEIN.AS / HEINY.PK | Heineken NV | $43,049 |
| TAP | Molson Coors Brewing Co | $21,351 |
| HEIO.AS | Heineken Holding NV | $20,082 |
| 2502.T | Asahi Group Holdings Ltd | $15,368 |
| 2503.T / KNBWY.PK | Kirin Holdings Co Ltd | $14,887 |
| 0168.HK | Tsingtao Brewery Co Ltd | $5,432 |
| CCU | Compania Cervecerias Unidas SA | $3,814 |
| SAM | Boston Beer Company Inc | $2,196 |
| 2501.T | Sapporo Holdings Ltd | $2,032 |
| 600132.SS | Chongqing Brewery Co Ltd | $1,285 |
| BREW.O | Craft Brew Alliance Inc | $329 |
| 0236.HK | San Miguel Brewery Hong Kong Ltd | $60 |
| GRB.AX | Gage Roads Brewing Co Ltd | $31 |
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