HEINEKEN NV (HEIA.AS) Stock Fundamental Analysis
AMS:HEIA - Euronext Amsterdam - NL0000009165 - Common Stock - Currency: EUR
Taking everything into account, HEIA scores 4 out of 10 in our fundamental rating. HEIA was compared to 25 industry peers in the Beverages industry. The financial health of HEIA is average, but there are quite some concerns on its profitability. HEIA is not valued too expensively and it also shows 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
HEIA has a Return On Assets of 1.82%. This is in the lower half of the industry: HEIA underperforms 72.00% of its industry peers.
Looking at the Return On Equity, with a value of 4.99%, HEIA is doing worse than 72.00% of the companies in the same industry.
HEIA's Return On Invested Capital of 7.20% is fine compared to the rest of the industry. HEIA outperforms 64.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for HEIA is in line with the industry average of 7.60%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.82% | ||
| ROE | 4.99% | ||
| ROIC | 7.2% |
ROA(3y)3.7%
ROA(5y)3.49%
ROE(3y)10.07%
ROE(5y)9.57%
ROIC(3y)7.43%
ROIC(5y)6.62%
1.3 Margins
The Profit Margin of HEIA (3.28%) is worse than 68.00% of its industry peers.
HEIA's Profit Margin has declined in the last couple of years.
HEIA has a Operating Margin (12.82%) which is in line with its industry peers.
In the last couple of years the Operating Margin of HEIA has declined.
Looking at the Gross Margin, with a value of 20.26%, HEIA is doing worse than 92.00% of the companies in the same industry.
In the last couple of years the Gross Margin of HEIA has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 12.82% | ||
| PM (TTM) | 3.28% | ||
| GM | 20.26% |
OM growth 3Y-1.92%
OM growth 5Y-3.32%
PM growth 3Y-40.01%
PM growth 5Y-18.4%
GM growth 3Y-0.45%
GM growth 5Y-1.01%
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.
Compared to 1 year ago, HEIA has about the same amount of shares outstanding.
The number of shares outstanding for HEIA has been reduced compared to 5 years ago.
Compared to 1 year ago, HEIA has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 2.02 indicates that HEIA is not a great score, but indicates only limited risk for bankruptcy at the moment.
HEIA's Altman-Z score of 2.02 is in line compared to the rest of the industry. HEIA outperforms 52.00% of its industry peers.
HEIA has a debt to FCF ratio of 5.61. This is a neutral value as HEIA would need 5.61 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 5.61, HEIA belongs to the top of the industry, outperforming 84.00% of the companies in the same industry.
A Debt/Equity ratio of 0.76 indicates that HEIA is somewhat dependend on debt financing.
The Debt to Equity ratio of HEIA (0.76) is better than 64.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.76 | ||
| Debt/FCF | 5.61 | ||
| Altman-Z | 2.02 |
ROIC/WACC1.18
WACC6.12%
2.3 Liquidity
HEIA has a Current Ratio of 0.77. This is a bad value and indicates that HEIA is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of HEIA (0.77) is worse than 80.00% of its industry peers.
HEIA has a Quick Ratio of 0.77. This is a bad value and indicates that HEIA is not financially healthy enough and could expect problems in meeting its short term obligations.
HEIA has a Quick ratio of 0.51. This is in the lower half of the industry: HEIA underperforms 72.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 4.60% over the past year.
The Earnings Per Share has been growing slightly by 2.21% on average over the past years.
HEIA shows a decrease in Revenue. In the last year, the revenue decreased by -1.78%.
Measured over the past years, HEIA shows a small growth in Revenue. The Revenue has been growing by 4.53% on average per year.
EPS 1Y (TTM)4.6%
EPS 3Y11.33%
EPS 5Y2.21%
EPS Q2Q%3.67%
Revenue 1Y (TTM)-1.78%
Revenue growth 3Y10.88%
Revenue growth 5Y4.53%
Sales Q2Q%-23.13%
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 8.29% yearly.
The Revenue is expected to grow by 3.52% on average over the next years.
EPS Next Y3.44%
EPS Next 2Y6.31%
EPS Next 3Y6.96%
EPS Next 5Y8.29%
Revenue Next Year-1.45%
Revenue Next 2Y1.05%
Revenue Next 3Y2.16%
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 accelerating.
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.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 15.37, HEIA is valued correctly.
Based on the Price/Earnings ratio, HEIA is valued a bit cheaper than 80.00% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.34, HEIA is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 14.88, the valuation of HEIA can be described as correct.
HEIA's Price/Forward Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.03, HEIA is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.37 | ||
| Fwd PE | 14.88 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HEIA is valued a bit cheaper than the industry average as 72.00% of the companies are valued more expensively.
HEIA's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. HEIA is cheaper than 72.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14.25 | ||
| EV/EBITDA | 8.8 |
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)4.47
PEG (5Y)6.97
EPS Next 2Y6.31%
EPS Next 3Y6.96%
5. Dividend
5.1 Amount
HEIA has a Yearly Dividend Yield of 2.50%. Purely for dividend investing, there may be better candidates out there.
HEIA's Dividend Yield is comparable with the industry average which is at 2.88.
HEIA's Dividend Yield is comparable with the S&P500 average which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.5% |
5.2 History
The dividend of HEIA decreases each year by -0.14%.
Dividend Growth(5Y)-0.14%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
122.60% of the earnings are spent on dividend by HEIA. This is not a sustainable payout ratio.
DP122.6%
EPS Next 2Y6.31%
EPS Next 3Y6.96%
AMS:HEIA (6/23/2025, 4:38:20 PM)
75.17
+0.61 (+0.82%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)
Earnings (Next)
Inst Owners21.77%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap43.30B
Analysts79.33
Price Target92.03 (22.43%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.5% |
Yearly Dividend2.12
Dividend Growth(5Y)-0.14%
DP122.6%
Div Incr Years0
Div Non Decr Years0
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)0.11%
PT rev (3m)-2.43%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-3.51%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.96%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.37 | ||
| Fwd PE | 14.88 | ||
| P/S | 1.45 | ||
| P/FCF | 14.25 | ||
| P/OCF | 7.87 | ||
| P/B | 2.21 | ||
| P/tB | N/A | ||
| EV/EBITDA | 8.8 |
EPS(TTM)4.89
EY6.51%
EPS(NY)5.05
Fwd EY6.72%
FCF(TTM)5.27
FCFY7.02%
OCF(TTM)9.55
OCFY12.71%
SpS51.77
BVpS33.99
TBVpS-3.68
PEG (NY)4.47
PEG (5Y)6.97
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.82% | ||
| ROE | 4.99% | ||
| ROCE | 9.67% | ||
| ROIC | 7.2% | ||
| ROICexc | 7.64% | ||
| ROICexgc | 17.65% | ||
| OM | 12.82% | ||
| PM (TTM) | 3.28% | ||
| GM | 20.26% | ||
| FCFM | 10.19% |
ROA(3y)3.7%
ROA(5y)3.49%
ROE(3y)10.07%
ROE(5y)9.57%
ROIC(3y)7.43%
ROIC(5y)6.62%
ROICexc(3y)7.92%
ROICexc(5y)7.16%
ROICexgc(3y)18.24%
ROICexgc(5y)16.63%
ROCE(3y)10.06%
ROCE(5y)8.96%
ROICexcg growth 3Y2.8%
ROICexcg growth 5Y0.89%
ROICexc growth 3Y5.31%
ROICexc growth 5Y-1.19%
OM growth 3Y-1.92%
OM growth 5Y-3.32%
PM growth 3Y-40.01%
PM growth 5Y-18.4%
GM growth 3Y-0.45%
GM growth 5Y-1.01%
F-Score6
Asset Turnover0.55
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.76 | ||
| Debt/FCF | 5.61 | ||
| Debt/EBITDA | 2.31 | ||
| Cap/Depr | 94.63% | ||
| Cap/Sales | 8.27% | ||
| Interest Coverage | 5.72 | ||
| Cash Conversion | 85.62% | ||
| Profit Quality | 310.63% | ||
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.51 | ||
| Altman-Z | 2.02 |
F-Score6
WACC6.12%
ROIC/WACC1.18
Cap/Depr(3y)95.91%
Cap/Depr(5y)85.26%
Cap/Sales(3y)8.02%
Cap/Sales(5y)7.93%
Profit Quality(3y)159.79%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)4.6%
EPS 3Y11.33%
EPS 5Y2.21%
EPS Q2Q%3.67%
EPS Next Y3.44%
EPS Next 2Y6.31%
EPS Next 3Y6.96%
EPS Next 5Y8.29%
Revenue 1Y (TTM)-1.78%
Revenue growth 3Y10.88%
Revenue growth 5Y4.53%
Sales Q2Q%-23.13%
Revenue Next Year-1.45%
Revenue Next 2Y1.05%
Revenue Next 3Y2.16%
Revenue Next 5Y3.52%
EBIT growth 1Y-9.15%
EBIT growth 3Y8.75%
EBIT growth 5Y1.06%
EBIT Next Year58.51%
EBIT Next 3Y20.67%
EBIT Next 5Y14.9%
FCF growth 1Y73.3%
FCF growth 3Y5.54%
FCF growth 5Y6.32%
OCF growth 1Y24.22%
OCF growth 3Y9.59%
OCF growth 5Y4.88%