HEINEKEN NV (HEIA.AS)
NL0000009165 - Common Stock
Overall HEIA gets a fundamental rating of 3 out of 10. We evaluated HEIA against 24 industry peers in the Beverages industry. HEIA has a medium profitability rating, but doesn't score so well on its financial health evaluation. HEIA is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
HEIA had positive earnings in the past year.
HEIA had a positive operating cash flow in the past year.
Of the past 5 years HEIA 4 years were profitable.
In the past 5 years HEIA always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 4.18%, HEIA is in line with its industry, outperforming 52.17% of the companies in the same industry.
The Return On Equity of HEIA (11.49%) is better than 65.22% of its industry peers.
With a decent Return On Invested Capital value of 8.46%, HEIA is doing good in the industry, outperforming 69.57% of the companies in the same industry.
HEIA had an Average Return On Invested Capital over the past 3 years of 7.71%. This is in line with the industry average of 7.98%.
The 3 year average ROIC (7.71%) for HEIA is below the current ROIC(8.46%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.18% | ||
| ROE | 11.49% | ||
| ROIC | 8.46% |
ROA(3y)5.37%
ROA(5y)4.06%
ROE(3y)14.79%
ROE(5y)11.25%
ROIC(3y)7.71%
ROIC(5y)7.39%
1.3 Margins
HEIA has a worse Profit Margin (7.59%) than 60.87% of its industry peers.
HEIA's Profit Margin has declined in the last couple of years.
HEIA has a Operating Margin (13.86%) which is in line with its industry peers.
HEIA's Operating Margin has declined in the last couple of years.
HEIA has a Gross Margin of 19.54%. This is amonst the worse of the industry: HEIA underperforms 95.65% of its industry peers.
In the last couple of years the Gross Margin of HEIA has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 13.86% | ||
| PM (TTM) | 7.59% | ||
| GM | 19.54% |
OM growth 3Y7.69%
OM growth 5Y-2.65%
PM growth 3YN/A
PM growth 5Y-2.26%
GM growth 3Y-1.54%
GM growth 5Y-1.83%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), HEIA is creating some value.
The number of shares outstanding for HEIA has been reduced compared to 1 year ago.
The number of shares outstanding for HEIA has been reduced compared to 5 years ago.
The debt/assets ratio for HEIA is higher compared to a year ago.
2.2 Solvency
HEIA has an Altman-Z score of 2.13. This is not the best score and indicates that HEIA is in the grey zone with still only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.13, HEIA is in the better half of the industry, outperforming 65.22% of the companies in the same industry.
The Debt to FCF ratio of HEIA is 10.40, which is on the high side as it means it would take HEIA, 10.40 years of fcf income to pay off all of its debts.
HEIA has a Debt to FCF ratio of 10.40. This is in the better half of the industry: HEIA outperforms 60.87% of its industry peers.
A Debt/Equity ratio of 0.77 indicates that HEIA is somewhat dependend on debt financing.
HEIA has a Debt to Equity ratio of 0.77. This is comparable to the rest of the industry: HEIA outperforms 52.17% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.77 | ||
| Debt/FCF | 10.4 | ||
| Altman-Z | 2.13 |
ROIC/WACC1.34
WACC6.34%
2.3 Liquidity
A Current Ratio of 0.77 indicates that HEIA may have some problems paying its short term obligations.
The Current ratio of HEIA (0.77) is worse than 82.61% of its industry peers.
A Quick Ratio of 0.52 indicates that HEIA may have some problems paying its short term obligations.
With a Quick ratio value of 0.52, HEIA is not doing good in the industry: 65.22% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.52 |
3. Growth
3.1 Past
HEIA shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -5.14%.
Measured over the past 5 years, HEIA shows a small growth in Earnings Per Share. The EPS has been growing by 1.90% on average per year.
HEIA shows a small growth in Revenue. In the last year, the Revenue has grown by 5.72%.
HEIA shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.19% yearly.
EPS 1Y (TTM)-5.14%
EPS 3Y32.67%
EPS 5Y1.9%
EPS Q2Q%0.76%
Revenue 1Y (TTM)5.72%
Revenue growth 3Y15.48%
Revenue growth 5Y6.19%
Sales Q2Q%3.68%
3.2 Future
HEIA is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.75% yearly.
The Revenue is expected to grow by 5.47% on average over the next years.
EPS Next Y5.28%
EPS Next 2Y10.71%
EPS Next 3Y10.8%
EPS Next 5Y13.75%
Revenue Next Year4.81%
Revenue Next 2Y4.78%
Revenue Next 3Y4.81%
Revenue Next 5Y5.47%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 19.42, the valuation of HEIA can be described as rather expensive.
HEIA's Price/Earnings ratio is in line with the industry average.
HEIA's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.41.
HEIA is valuated rather expensively with a Price/Forward Earnings ratio of 18.45.
The rest of the industry has a similar Price/Forward Earnings ratio as HEIA.
Compared to an average S&P500 Price/Forward Earnings ratio of 20.59, HEIA is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.42 | ||
| Fwd PE | 18.45 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HEIA indicates a somewhat cheap valuation: HEIA is cheaper than 73.91% of the companies listed in the same industry.
HEIA's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 29.26 | ||
| EV/EBITDA | 8.92 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)3.68
PEG (5Y)10.21
EPS Next 2Y10.71%
EPS Next 3Y10.8%
5. Dividend
5.1 Amount
HEIA has a Yearly Dividend Yield of 1.93%. Purely for dividend investing, there may be better candidates out there.
HEIA's Dividend Yield is slightly below the industry average, which is at 2.51.
HEIA's Dividend Yield is comparable with the S&P500 average which is at 2.30.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.93% |
5.2 History
The dividend of HEIA has a limited annual growth rate of 4.13%.
Dividend Growth(5Y)4.13%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
HEIA pays out 57.94% of its income as dividend. This is a bit on the high side, but may be sustainable.
HEIA's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP57.94%
EPS Next 2Y10.71%
EPS Next 3Y10.8%
HEINEKEN NV
AMS:HEIA (7/26/2024, 7:00:00 PM)
90.7
+1.02 (+1.14%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap51.28B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.93% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
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EPS beat(4)
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EPS beat(8)
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EPS beat(16)
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Revenue beat(2)
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Revenue beat(8)
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Revenue beat(12)
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Revenue beat(16)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.42 | ||
| Fwd PE | 18.45 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)3.68
PEG (5Y)10.21
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.18% | ||
| ROE | 11.49% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 13.86% | ||
| PM (TTM) | 7.59% | ||
| GM | 19.54% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.55
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.77 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.52 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)-5.14%
EPS 3Y32.67%
EPS 5Y
EPS Q2Q%
EPS Next Y5.28%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)5.72%
Revenue growth 3Y15.48%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y