HEINEKEN NV (HEIA.AS)
NL0000009165 - Common Stock
Overall HEIA gets a fundamental rating of 3 out of 10. We evaluated HEIA against 22 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 quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year HEIA was profitable.
In the past year HEIA had a positive cash flow from operations.
Of the past 5 years HEIA 4 years were profitable.
Each year in the past 5 years HEIA had a positive operating cash flow.
1.2 Ratios
HEIA has a Return On Assets (4.18%) which is comparable to the rest of the industry.
HEIA's Return On Equity of 11.49% is fine compared to the rest of the industry. HEIA outperforms 61.90% of its industry peers.
HEIA's Return On Invested Capital of 8.02% is fine compared to the rest of the industry. HEIA outperforms 76.19% of its industry peers.
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 7.40%.
The last Return On Invested Capital (8.02%) for HEIA is above the 3 year average (7.71%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.18% | ||
| ROE | 11.49% | ||
| ROIC | 8.02% |
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 Profit Margin (7.59%) which is in line with its industry peers.
In the last couple of years the Profit Margin of HEIA has declined.
HEIA's Operating Margin of 13.13% is in line compared to the rest of the industry. HEIA outperforms 42.86% of 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 19.54%, HEIA is doing worse than 95.24% of the companies in the same industry.
HEIA's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 13.13% | ||
| 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.
HEIA has less shares outstanding than it did 5 years ago.
The debt/assets ratio for HEIA is higher compared to a year ago.
2.2 Solvency
An Altman-Z score of 2.10 indicates that HEIA is not a great score, but indicates only limited risk for bankruptcy at the moment.
HEIA's Altman-Z score of 2.10 is in line compared to the rest of the industry. HEIA outperforms 57.14% of its industry peers.
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's Debt to FCF ratio of 10.40 is fine compared to the rest of the industry. HEIA outperforms 66.67% of its industry peers.
HEIA has a Debt/Equity ratio of 0.77. This is a neutral value indicating HEIA is somewhat dependend on debt financing.
HEIA has a Debt to Equity ratio (0.77) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.77 | ||
| Debt/FCF | 10.4 | ||
| Altman-Z | 2.1 |
ROIC/WACC1.29
WACC6.2%
2.3 Liquidity
A Current Ratio of 0.77 indicates that HEIA may have some problems paying its short term obligations.
HEIA has a worse Current ratio (0.77) than 85.71% of its industry peers.
A Quick Ratio of 0.52 indicates that HEIA may have some problems paying its short term obligations.
HEIA has a Quick ratio of 0.52. This is in the lower half of the industry: HEIA underperforms 66.67% of its industry peers.
| 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%.
HEIA shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 1.90% yearly.
HEIA shows a small growth in Revenue. In the last year, the Revenue has grown by 5.72%.
Measured over the past years, HEIA shows a small growth in Revenue. The Revenue has been growing by 6.19% on average per year.
EPS 1Y (TTM)-5.14%
EPS 3Y32.67%
EPS 5Y1.9%
EPS growth Q2Q0.76%
Revenue 1Y (TTM)5.72%
Revenue growth 3Y15.48%
Revenue growth 5Y6.19%
Revenue growth Q2Q3.96%
3.2 Future
Based on estimates for the next years, HEIA will show a quite strong growth in Earnings Per Share. The EPS will grow by 16.52% on average per year.
Based on estimates for the next years, HEIA will show a small growth in Revenue. The Revenue will grow by 4.44% on average per year.
EPS Next Y7.08%
EPS Next 2Y11.92%
EPS Next 3Y11.49%
EPS Next 5Y16.52%
Revenue Next Year4.75%
Revenue Next 2Y4.71%
Revenue Next 3Y4.82%
Revenue Next 5Y4.44%
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
HEIA is valuated rather expensively with a Price/Earnings ratio of 19.19.
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 24.76.
With a Price/Forward Earnings ratio of 17.93, HEIA is valued on the expensive side.
The rest of the industry has a similar Price/Forward Earnings ratio as HEIA.
HEIA is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 21.26, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.19 | ||
| Fwd PE | 17.93 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HEIA is valued a bit cheaper than 66.67% of the companies 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 | 28.91 | ||
| EV/EBITDA | 9.06 |
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)2.71
PEG (5Y)10.09
EPS Next 2Y11.92%
EPS Next 3Y11.49%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.97%, HEIA has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 2.33, HEIA is paying slightly less dividend.
HEIA's Dividend Yield is comparable with the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.97% |
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.
The dividend of HEIA is growing, but earnings are growing more, so the dividend growth is sustainable.
DP57.94%
EPS Next 2Y11.92%
EPS Next 3Y11.49%
HEINEKEN NV
AMS:HEIA (4/19/2024, 7:00:00 PM)
89.64
+1.64 (+1.86%)
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 Cap50.68B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.97% |
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)
Max EPS beat(2)
EPS beat(4)
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EPS beat(8)
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EPS beat(12)
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EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
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Revenue beat(4)
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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 | 19.19 | ||
| Fwd PE | 17.93 | ||
| 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)2.71
PEG (5Y)10.09
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.18% | ||
| ROE | 11.49% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 13.13% | ||
| 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)
Growth
EPS 1Y (TTM)-5.14%
EPS 3Y32.67%
EPS 5Y
EPS growth Q2Q
EPS Next Y7.08%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)5.72%
Revenue growth 3Y15.48%
Revenue growth 5Y
Revenue growth 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