As of September 2025, BP PLC (BP.L) enters the next three years balancing income appeal with cyclical risks. The shares trade near 415.65, within a 52‑week range of 329.20–472.25, and exhibit a low 5‑year beta of 0.42. Fundamentals show scale (revenue ttm 184.81B) but thin accounting profitability (profit margin 0.31%; operating margin 9.13%) alongside robust cash generation (operating cash flow 23.29B; levered free cash flow 9.31B). The balance sheet holds 35.31B cash against 74.98B debt (debt/equity 93.99%) with a 1.21 current ratio. Income investors focus on a forward dividend yield of 5.74% (rate 0.25), though the high payout ratio reflects low reported EPS. With quarterly revenue down 1.30% year over year and sector conditions in flux, the base case hinges on disciplined capex, steady operations and commodity price stability.

Reckitt Benckiser (RKT.L) heads into the next three years from a position of relative strength but with clear trade‑offs. The shares recently closed at 5,710, near a 52‑week high of 5,722 and up 25.12% over 12 months, sitting above the 50‑day and 200‑day moving averages. Fundamentals show resilient profitability (21.46% operating margin; 8.88% net margin) on trailing‑twelve‑month revenue of 13.98B, yet near‑term momentum has softened: quarterly revenue fell 2.60% year over year and quarterly earnings declined 16.10%. Balance‑sheet flexibility is serviceable but not unconstrained, with 9.4B total debt, 963M cash, a 0.56 current ratio and debt/equity of 148.11%. The defensive profile (beta 0.07) and a forward dividend yield of 3.63% support the case for patience, though a 110.14% payout ratio puts the onus on cash generation and an earnings recovery to sustain current distributions.

AB InBev (ABI.BR) enters late 2025 with resilient profitability, large‑scale cash generation, and a mixed top‑line backdrop. Over the past six months, the share price recovered from early‑2025 lows yet remains below its 52‑week high, reflecting cautious sentiment on beer demand and currency swings. The company’s trailing‑twelve‑month revenue is 58.52B with a 26.38% operating margin and 12.16% profit margin, and levered free cash flow of 10.16B supports deleveraging and dividends (forward yield 1.96%). Near term, Morgan Stanley trimmed its price target by EUR 1, while AB InBev announced a $15 million U.S. brewery investment and continued adjustments around its Russia JV. This three‑year outlook weighs margin durability, balance‑sheet progress, and brand momentum against input‑cost volatility and volume uncertainty.

Unilever (UNA.AS) enters the next three years from a position of scale but with mixed momentum. As of , the shares trade near 55.4, roughly 7.3% lower year over year, and within a 52‑week range of 50.88–59.66. The company’s trailing twelve‑month revenue is 59.77B with a 9.29% profit margin and 18.85% operating margin, supported by 11.83B of EBITDA and 5.47B in levered free cash flow. Valuation sits at 24.47x trailing earnings and 16.58x forward earnings, with a 3.28% forward dividend yield. Balance‑sheet leverage is elevated (total debt 32.02B; debt/equity 160.68%) and liquidity is tight (current ratio 0.76). Against this backdrop, Unilever’s brand investment and marketing transformation—highlighted in recent coverage—will be central to sustaining growth while defending margins. This report frames a three‑year outlook, risks, scenarios, and catalysts to watch.