HEINEKEN NV (HEIA.AS) Stock Fundamental Analysis
Europe - AMS:HEIA - NL0000009165 - Common Stock
70.54 EUR
-0.34 (-0.48%)
We assign a fundamental rating of 4 out of 10 to HEIA. HEIA was compared to 26 industry peers in the Beverages industry. While HEIA is still in line with the averages on profitability rating, there are concerns on its financial health. HEIA is valued correctly, but it does not seem to be growing.
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
The Return On Assets of HEIA (3.52%) is comparable to the rest of the industry.
With a decent Return On Equity value of 10.26%, HEIA is doing good in the industry, outperforming 61.54% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 7.88%, HEIA is in the better half of the industry, outperforming 76.92% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for HEIA is in line with the industry average of 7.35%.
The 3 year average ROIC (7.43%) for HEIA is below the current ROIC(7.88%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.52% | ||
| ROE | 10.26% | ||
| ROIC | 7.88% |
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 has a Profit Margin of 6.23%. This is in the lower half of the industry: HEIA underperforms 61.54% of its industry peers.
HEIA's Profit Margin has declined in the last couple of years.
HEIA has a Operating Margin (13.57%) which is comparable to the rest of the industry.
HEIA's Operating Margin has declined in the last couple of years.
HEIA has a Gross Margin of 20.20%. This is amonst the worse of the industry: HEIA underperforms 96.15% 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 | 13.57% | ||
| PM (TTM) | 6.23% | ||
| GM | 20.2% |
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.
The number of shares outstanding for HEIA remains at a similar level compared to 1 year ago.
Compared to 5 years ago, HEIA has less shares outstanding
Compared to 1 year ago, HEIA has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 2.03 indicates that HEIA is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.03, HEIA is in line with its industry, outperforming 46.15% of the companies in the same industry.
The Debt to FCF ratio of HEIA is 6.57, which is on the high side as it means it would take HEIA, 6.57 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of HEIA (6.57) is better than 69.23% of its industry peers.
HEIA has a Debt/Equity ratio of 0.86. This is a neutral value indicating HEIA is somewhat dependend on debt financing.
HEIA has a Debt to Equity ratio of 0.86. This is comparable to the rest of the industry: HEIA outperforms 50.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | 6.57 | ||
| Altman-Z | 2.03 |
ROIC/WACC1.29
WACC6.13%
2.3 Liquidity
A Current Ratio of 0.75 indicates that HEIA may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.75, HEIA is doing worse than 84.62% of the companies in the same industry.
HEIA has a Quick Ratio of 0.75. 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 65.38% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.75 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
HEIA shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 0.61%.
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 -4.84% in the past year.
HEIA shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.53% yearly.
EPS 1Y (TTM)0.61%
EPS 3Y11.33%
EPS 5Y2.21%
EPS Q2Q%-3.17%
Revenue 1Y (TTM)-4.84%
Revenue growth 3Y10.88%
Revenue growth 5Y4.53%
Sales Q2Q%-5.04%
3.2 Future
The Earnings Per Share is expected to grow by 4.73% on average over the next years.
HEIA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.35% yearly.
EPS Next Y-0.38%
EPS Next 2Y3.8%
EPS Next 3Y5.3%
EPS Next 5Y4.73%
Revenue Next Year-3.17%
Revenue Next 2Y0.29%
Revenue Next 3Y1.61%
Revenue Next 5Y2.35%
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
The Price/Earnings ratio is 14.63, which indicates a correct valuation of HEIA.
Compared to the rest of the industry, the Price/Earnings ratio of HEIA indicates a rather cheap valuation: HEIA is cheaper than 80.77% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.69, HEIA is valued a bit cheaper.
The Price/Forward Earnings ratio is 13.40, which indicates a correct valuation of HEIA.
Based on the Price/Forward Earnings ratio, HEIA is valued a bit cheaper than the industry average as 73.08% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 23.18. HEIA is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.63 | ||
| Fwd PE | 13.4 |
4.2 Price Multiples
HEIA's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. HEIA is cheaper than 76.92% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, HEIA is valued a bit cheaper than 61.54% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 15.19 | ||
| EV/EBITDA | 8.29 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)6.63
EPS Next 2Y3.8%
EPS Next 3Y5.3%
5. Dividend
5.1 Amount
HEIA has a Yearly Dividend Yield of 2.75%.
HEIA's Dividend Yield is comparable with the industry average which is at 2.82.
HEIA's Dividend Yield is comparable with the S&P500 average which is at 2.34.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.75% |
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
72.98% of the earnings are spent on dividend by HEIA. This is not a sustainable payout ratio.
DP72.98%
EPS Next 2Y3.8%
EPS Next 3Y5.3%
AMS:HEIA (10/21/2025, 4:26:14 PM)
70.54
-0.34 (-0.48%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)
Earnings (Next)
Inst Owners22.94%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap40.63B
Analysts80
Price Target89.64 (27.08%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.75% |
Yearly Dividend2.12
Dividend Growth(5Y)-0.14%
DP72.98%
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)-0.97%
PT rev (3m)-2.6%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.49%
EPS NY rev (3m)-3.69%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.67%
Revenue NY rev (3m)-1.74%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.63 | ||
| Fwd PE | 13.4 | ||
| P/S | 1.39 | ||
| P/FCF | 15.19 | ||
| P/OCF | 7.74 | ||
| P/B | 2.29 | ||
| P/tB | N/A | ||
| EV/EBITDA | 8.29 |
EPS(TTM)4.82
EY6.83%
EPS(NY)5.26
Fwd EY7.46%
FCF(TTM)4.64
FCFY6.58%
OCF(TTM)9.11
OCFY12.92%
SpS50.65
BVpS30.75
TBVpS-4.35
PEG (NY)N/A
PEG (5Y)6.63
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.52% | ||
| ROE | 10.26% | ||
| ROCE | 10.77% | ||
| ROIC | 7.88% | ||
| ROICexc | 8.33% | ||
| ROICexgc | 18.77% | ||
| OM | 13.57% | ||
| PM (TTM) | 6.23% | ||
| GM | 20.2% | ||
| FCFM | 9.17% |
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-Score7
Asset Turnover0.57
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | 6.57 | ||
| Debt/EBITDA | 2.3 | ||
| Cap/Depr | 97.61% | ||
| Cap/Sales | 8.82% | ||
| Interest Coverage | 6.33 | ||
| Cash Conversion | 79.58% | ||
| Profit Quality | 147.22% | ||
| Current Ratio | 0.75 | ||
| Quick Ratio | 0.51 | ||
| Altman-Z | 2.03 |
F-Score7
WACC6.13%
ROIC/WACC1.29
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)0.61%
EPS 3Y11.33%
EPS 5Y2.21%
EPS Q2Q%-3.17%
EPS Next Y-0.38%
EPS Next 2Y3.8%
EPS Next 3Y5.3%
EPS Next 5Y4.73%
Revenue 1Y (TTM)-4.84%
Revenue growth 3Y10.88%
Revenue growth 5Y4.53%
Sales Q2Q%-5.04%
Revenue Next Year-3.17%
Revenue Next 2Y0.29%
Revenue Next 3Y1.61%
Revenue Next 5Y2.35%
EBIT growth 1Y-3.93%
EBIT growth 3Y8.75%
EBIT growth 5Y1.06%
EBIT Next Year55.93%
EBIT Next 3Y19.94%
EBIT Next 5Y14.36%
FCF growth 1Y195.25%
FCF growth 3Y5.54%
FCF growth 5Y6.32%
OCF growth 1Y56.24%
OCF growth 3Y9.59%
OCF growth 5Y4.88%