HEINEKEN NV (HEIA.AS) Stock Fundamental Analysis
AMS:HEIA - Euronext Amsterdam - NL0000009165 - Common Stock - Currency: EUR
Overall HEIA gets a fundamental rating of 4 out of 10. We evaluated HEIA against 24 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
In the past year HEIA was profitable.
HEIA had a positive operating cash flow in the past year.
HEIA had positive earnings in 4 of the past 5 years.
In the past 5 years HEIA always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of HEIA (1.82%) is worse than 70.37% of its industry peers.
The Return On Equity of HEIA (4.99%) is worse than 70.37% of its industry peers.
HEIA has a Return On Invested Capital (7.20%) which is in line with 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 7.67%.
| 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
HEIA's Profit Margin of 3.28% is on the low side compared to the rest of the industry. HEIA is outperformed by 66.67% of its industry peers.
In the last couple of years the Profit Margin of HEIA has declined.
HEIA has a Operating Margin of 12.82%. This is comparable to the rest of the industry: HEIA outperforms 40.74% of its industry peers.
HEIA's Operating Margin has declined in the last couple of years.
HEIA's Gross Margin of 20.26% is on the low side compared to the rest of the industry. HEIA is outperformed by 92.59% of its industry peers.
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
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so HEIA is still creating some value.
HEIA has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, HEIA has less shares outstanding
The debt/assets ratio for HEIA has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 2.06 indicates that HEIA is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 2.06, HEIA perfoms like the industry average, outperforming 48.15% of the companies in the same industry.
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.
The Debt to FCF ratio of HEIA (5.61) is better than 81.48% of its industry peers.
A Debt/Equity ratio of 0.76 indicates that HEIA is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.76, HEIA is doing good in the industry, outperforming 62.96% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.76 | ||
| Debt/FCF | 5.61 | ||
| Altman-Z | 2.06 |
ROIC/WACC1.15
WACC6.26%
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.
Looking at the Current ratio, with a value of 0.77, HEIA is doing worse than 81.48% of the companies in the same industry.
A Quick Ratio of 0.51 indicates that HEIA may have some problems paying its short term obligations.
HEIA has a Quick ratio of 0.51. This is in the lower half of the industry: HEIA underperforms 74.07% 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.
Measured over the past 5 years, HEIA shows a small growth in Earnings Per Share. The EPS has been growing by 2.21% on average per year.
The Revenue has decreased by -1.78% in the past year.
The Revenue has been growing slightly by 4.53% on average over the past years.
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
Based on estimates for the next years, HEIA will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.58% on average per year.
Based on estimates for the next years, HEIA will show a small growth in Revenue. The Revenue will grow by 3.83% on average per year.
EPS Next Y3.44%
EPS Next 2Y6.31%
EPS Next 3Y6.96%
EPS Next 5Y9.58%
Revenue Next Year-1.45%
Revenue Next 2Y1.05%
Revenue Next 3Y2.16%
Revenue Next 5Y3.83%
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 stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 16.04, which indicates a correct valuation of HEIA.
Based on the Price/Earnings ratio, HEIA is valued a bit cheaper than the industry average as 77.78% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 26.25, HEIA is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 15.52, the valuation of HEIA can be described as correct.
HEIA's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of HEIA to the average of the S&P500 Index (22.15), we can say HEIA is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.04 | ||
| Fwd PE | 15.52 |
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.
Based on the Price/Free Cash Flow ratio, HEIA is valued a bit cheaper than the industry average as 74.07% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14.87 | ||
| EV/EBITDA | 9.15 |
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)4.66
PEG (5Y)7.27
EPS Next 2Y6.31%
EPS Next 3Y6.96%
5. Dividend
5.1 Amount
HEIA has a Yearly Dividend Yield of 2.40%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 2.86, HEIA has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.38, HEIA has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.4% |
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
HEIA pays out 122.60% of its income as dividend. This is not a sustainable payout ratio.
DP122.6%
EPS Next 2Y6.31%
EPS Next 3Y6.96%
AMS:HEIA (5/30/2025, 7:00:00 PM)
78.42
+0.8 (+1.03%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)
Earnings (Next)
Inst Owners23.56%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap45.17B
Analysts79.33
Price Target91.94 (17.24%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.4% |
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)-0.73%
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)-0.33%
Revenue NY rev (3m)-4%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.04 | ||
| Fwd PE | 15.52 | ||
| P/S | 1.51 | ||
| P/FCF | 14.87 | ||
| P/OCF | 8.21 | ||
| P/B | 2.31 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.15 |
EPS(TTM)4.89
EY6.24%
EPS(NY)5.05
Fwd EY6.44%
FCF(TTM)5.27
FCFY6.73%
OCF(TTM)9.55
OCFY12.18%
SpS51.77
BVpS33.99
TBVpS-3.68
PEG (NY)4.66
PEG (5Y)7.27
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 | 2.06 |
F-Score6
WACC6.26%
ROIC/WACC1.15
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 5Y9.58%
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 5Y3.83%
EBIT growth 1Y-9.15%
EBIT growth 3Y8.75%
EBIT growth 5Y1.06%
EBIT Next Year58.51%
EBIT Next 3Y20.67%
EBIT Next 5Y14.83%
FCF growth 1Y73.3%
FCF growth 3Y5.54%
FCF growth 5Y6.32%
OCF growth 1Y24.22%
OCF growth 3Y9.59%
OCF growth 5Y4.88%