HEIDELBERG MATERIALS AG (HEI.DE) Stock Fundamental Analysis

FRA:HEI • DE0006047004

190 EUR
-9.9 (-4.95%)
Last: Feb 26, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

Taking everything into account, HEI scores 5 out of 10 in our fundamental rating. HEI was compared to 14 industry peers in the Construction Materials industry. While HEI belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. While showing a medium growth rate, HEI is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • HEI had positive earnings in the past year.
  • In the past year HEI had a positive cash flow from operations.
  • Of the past 5 years HEI 4 years were profitable.
  • In the past 5 years HEI always reported a positive cash flow from operatings.
HEI.DE Yearly Net Income VS EBIT VS OCF VS FCFHEI.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B -2B 3B

1.2 Ratios

  • With a decent Return On Assets value of 5.14%, HEI is doing good in the industry, outperforming 64.29% of the companies in the same industry.
  • The Return On Equity of HEI (10.35%) is better than 64.29% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 7.73%, HEI is in the better half of the industry, outperforming 64.29% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for HEI is in line with the industry average of 7.90%.
  • The 3 year average ROIC (6.57%) for HEI is below the current ROIC(7.73%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 5.14%
ROE 10.35%
ROIC 7.73%
ROA(3y)5.01%
ROA(5y)2.72%
ROE(3y)10.11%
ROE(5y)5.12%
ROIC(3y)6.57%
ROIC(5y)6.16%
HEI.DE Yearly ROA, ROE, ROICHEI.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 -10 -15

1.3 Margins

  • Looking at the Profit Margin, with a value of 8.42%, HEI is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
  • HEI's Profit Margin has improved in the last couple of years.
  • The Operating Margin of HEI (13.55%) is better than 64.29% of its industry peers.
  • In the last couple of years the Operating Margin of HEI has grown nicely.
  • The Gross Margin of HEI (63.93%) is better than 78.57% of its industry peers.
  • In the last couple of years the Gross Margin of HEI has remained more or less at the same level.
Industry RankSector Rank
OM 13.55%
PM (TTM) 8.42%
GM 63.93%
OM growth 3Y8.85%
OM growth 5Y7.42%
PM growth 3Y-3.58%
PM growth 5Y7.79%
GM growth 3Y1.33%
GM growth 5Y1.2%
HEI.DE Yearly Profit, Operating, Gross MarginsHEI.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

2.1 Basic Checks

  • HEI has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • The number of shares outstanding for HEI has been reduced compared to 1 year ago.
  • HEI has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, HEI has an improved debt to assets ratio.
HEI.DE Yearly Shares OutstandingHEI.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
HEI.DE Yearly Total Debt VS Total AssetsHEI.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

  • HEI has an Altman-Z score of 2.63. This is not the best score and indicates that HEI is in the grey zone with still only limited risk for bankruptcy at the moment.
  • The Altman-Z score of HEI (2.63) is comparable to the rest of the industry.
  • The Debt to FCF ratio of HEI is 4.57, which is a neutral value as it means it would take HEI, 4.57 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 4.57, HEI is in line with its industry, outperforming 42.86% of the companies in the same industry.
  • A Debt/Equity ratio of 0.38 indicates that HEI is not too dependend on debt financing.
  • The Debt to Equity ratio of HEI (0.38) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF 4.57
Altman-Z 2.63
ROIC/WACC1.13
WACC6.85%
HEI.DE Yearly LT Debt VS Equity VS FCFHEI.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.3 Liquidity

  • A Current Ratio of 1.13 indicates that HEI should not have too much problems paying its short term obligations.
  • HEI has a Current ratio of 1.13. This is amonst the worse of the industry: HEI underperforms 85.71% of its industry peers.
  • A Quick Ratio of 0.73 indicates that HEI may have some problems paying its short term obligations.
  • The Quick ratio of HEI (0.73) is worse than 78.57% of its industry peers.
Industry RankSector Rank
Current Ratio 1.13
Quick Ratio 0.73
HEI.DE Yearly Current Assets VS Current LiabilitesHEI.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 25.67% over the past year.
  • Measured over the past years, HEI shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.04% on average per year.
  • The Revenue has been growing slightly by 4.68% in the past year.
  • HEI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.34% yearly.
EPS 1Y (TTM)25.67%
EPS 3Y12.66%
EPS 5Y11.04%
EPS Q2Q%N/A
Revenue 1Y (TTM)4.68%
Revenue growth 3Y10.31%
Revenue growth 5Y5.34%
Sales Q2Q%0.89%

3.2 Future

  • Based on estimates for the next years, HEI will show a quite strong growth in Earnings Per Share. The EPS will grow by 12.58% on average per year.
  • The Revenue is expected to grow by 3.52% on average over the next years.
EPS Next Y6.17%
EPS Next 2Y9.35%
EPS Next 3Y11.32%
EPS Next 5Y12.58%
Revenue Next Year6.26%
Revenue Next 2Y-1%
Revenue Next 3Y1.22%
Revenue Next 5Y3.52%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
HEI.DE Yearly Revenue VS EstimatesHEI.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B 20B 25B
HEI.DE Yearly EPS VS EstimatesHEI.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5 10 15 20

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1

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 32.70, which means the current valuation is very expensive for HEI.
  • Based on the Price/Earnings ratio, HEI is valued a bit more expensive than the industry average as 64.29% of the companies are valued more cheaply.
  • When comparing the Price/Earnings ratio of HEI to the average of the S&P500 Index (27.21), we can say HEI is valued slightly more expensively.
  • Based on the Price/Forward Earnings ratio of 27.37, the valuation of HEI can be described as expensive.
  • Based on the Price/Forward Earnings ratio, HEI is valued a bit more expensive than 71.43% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of HEI to the average of the S&P500 Index (28.13), we can say HEI is valued inline with the index average.
Industry RankSector Rank
PE 32.7
Fwd PE 27.37
HEI.DE Price Earnings VS Forward Price EarningsHEI.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HEI indicates a slightly more expensive valuation: HEI is more expensive than 78.57% of the companies listed in the same industry.
  • HEI's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 17.7
EV/EBITDA 9.8
HEI.DE Per share dataHEI.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80 100

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates HEI does not grow enough to justify the current Price/Earnings ratio.
  • HEI has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)5.3
PEG (5Y)2.96
EPS Next 2Y9.35%
EPS Next 3Y11.32%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 1.74%, HEI has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.76, HEI is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.80, HEI has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.74%

5.2 History

  • On average, the dividend of HEI grows each year by 7.61%, which is quite nice.
Dividend Growth(5Y)7.61%
Div Incr Years1
Div Non Decr Years4
HEI.DE Yearly Dividends per shareHEI.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

  • 33.05% of the earnings are spent on dividend by HEI. This is a low number and sustainable payout ratio.
  • HEI's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP33.05%
EPS Next 2Y9.35%
EPS Next 3Y11.32%
HEI.DE Yearly Income VS Free CF VS DividendHEI.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B -2B
HEI.DE Dividend Payout.HEI.DE Dividend Payout, showing the Payout Ratio.HEI.DE Dividend Payout.PayoutRetained Earnings

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HEIDELBERG MATERIALS AG

FRA:HEI (2/26/2026, 7:00:00 PM)

190

-9.9 (-4.95%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryConstruction Materials
Earnings (Last)11-06
Earnings (Next)02-25
Inst Owners43.35%
Inst Owner ChangeN/A
Ins Owners28.4%
Ins Owner ChangeN/A
Market Cap33.51B
Revenue(TTM)18.07B
Net Income(TTM)1.78B
Analysts72.14
Price Target247.28 (30.15%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.74%
Yearly Dividend3.03
Dividend Growth(5Y)7.61%
DP33.05%
Div Incr Years1
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)4.11%
PT rev (3m)12.13%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.2%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.49%
Valuation
Industry RankSector Rank
PE 32.7
Fwd PE 27.37
P/S 1.58
P/FCF 17.7
P/OCF 10.18
P/B 1.95
P/tB 4.2
EV/EBITDA 9.8
EPS(TTM)5.81
EY3.06%
EPS(NY)6.94
Fwd EY3.65%
FCF(TTM)10.73
FCFY5.65%
OCF(TTM)18.66
OCFY9.82%
SpS119.95
BVpS97.63
TBVpS45.22
PEG (NY)5.3
PEG (5Y)2.96
Graham Number112.97
Profitability
Industry RankSector Rank
ROA 5.14%
ROE 10.35%
ROCE 10.33%
ROIC 7.73%
ROICexc 8.12%
ROICexgc 12.48%
OM 13.55%
PM (TTM) 8.42%
GM 63.93%
FCFM 8.95%
ROA(3y)5.01%
ROA(5y)2.72%
ROE(3y)10.11%
ROE(5y)5.12%
ROIC(3y)6.57%
ROIC(5y)6.16%
ROICexc(3y)7.24%
ROICexc(5y)6.85%
ROICexgc(3y)11.06%
ROICexgc(5y)10.59%
ROCE(3y)8.78%
ROCE(5y)8.23%
ROICexgc growth 3Y8.18%
ROICexgc growth 5Y7.28%
ROICexc growth 3Y8.47%
ROICexc growth 5Y10.51%
OM growth 3Y8.85%
OM growth 5Y7.42%
PM growth 3Y-3.58%
PM growth 5Y7.79%
GM growth 3Y1.33%
GM growth 5Y1.2%
F-Score7
Asset Turnover0.61
Health
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF 4.57
Debt/EBITDA 1.49
Cap/Depr 94.45%
Cap/Sales 6.61%
Interest Coverage 9.11
Cash Conversion 75.7%
Profit Quality 106.26%
Current Ratio 1.13
Quick Ratio 0.73
Altman-Z 2.63
F-Score7
WACC6.85%
ROIC/WACC1.13
Cap/Depr(3y)98.1%
Cap/Depr(5y)88.57%
Cap/Sales(3y)6.42%
Cap/Sales(5y)6.47%
Profit Quality(3y)89.14%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)25.67%
EPS 3Y12.66%
EPS 5Y11.04%
EPS Q2Q%N/A
EPS Next Y6.17%
EPS Next 2Y9.35%
EPS Next 3Y11.32%
EPS Next 5Y12.58%
Revenue 1Y (TTM)4.68%
Revenue growth 3Y10.31%
Revenue growth 5Y5.34%
Sales Q2Q%0.89%
Revenue Next Year6.26%
Revenue Next 2Y-1%
Revenue Next 3Y1.22%
Revenue Next 5Y3.52%
EBIT growth 1Y8.81%
EBIT growth 3Y13.38%
EBIT growth 5Y9.93%
EBIT Next Year47.91%
EBIT Next 3Y19.75%
EBIT Next 5Y14.49%
FCF growth 1Y61.81%
FCF growth 3Y23.1%
FCF growth 5Y4.23%
OCF growth 1Y27.42%
OCF growth 3Y10.49%
OCF growth 5Y3.94%

HEIDELBERG MATERIALS AG / HEI.DE FAQ

What is the ChartMill fundamental rating of HEIDELBERG MATERIALS AG (HEI.DE) stock?

ChartMill assigns a fundamental rating of 5 / 10 to HEI.DE.


Can you provide the valuation status for HEIDELBERG MATERIALS AG?

ChartMill assigns a valuation rating of 1 / 10 to HEIDELBERG MATERIALS AG (HEI.DE). This can be considered as Overvalued.


Can you provide the profitability details for HEIDELBERG MATERIALS AG?

HEIDELBERG MATERIALS AG (HEI.DE) has a profitability rating of 7 / 10.


Can you provide the financial health for HEI stock?

The financial health rating of HEIDELBERG MATERIALS AG (HEI.DE) is 4 / 10.


What is the earnings growth outlook for HEIDELBERG MATERIALS AG?

The Earnings per Share (EPS) of HEIDELBERG MATERIALS AG (HEI.DE) is expected to grow by 6.17% in the next year.