it is correct - you need to read more closely + understand how...

it is correct - you need to read more closely + understand how companies are valued

Enterprise Value = market cap + debt - cash (and minority interests but those dont materially apply to BUD atm)

one has to incorporate value of debt in overall valuation of the stock

not clear to me what your basis is for that valuation. not to say it is wrong - i just dont know how you reached it.

but if they are going to pay ~$4mpa in interest you wont be able to use a simple p/s ratio (or you need to use a depressed one)