HEINEKEN NV (HEIA.AS)
NL0000009165 - Common Stock
Taking everything into account, HEIA scores 4 out of 10 in our fundamental rating. HEIA was compared to 26 industry peers in the Beverages industry. HEIA scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. 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.
In the past year HEIA had a positive cash flow from operations.
HEIA had positive earnings in 4 of the past 5 years.
HEIA had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
HEIA has a Return On Assets of 1.93%. This is in the lower half of the industry: HEIA underperforms 76.00% of its industry peers.
HEIA has a Return On Equity of 5.43%. This is in the lower half of the industry: HEIA underperforms 76.00% of its industry peers.
With a decent Return On Invested Capital value of 8.49%, HEIA is doing good in the industry, outperforming 64.00% 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 8.54%.
The last Return On Invested Capital (8.49%) for HEIA is above the 3 year average (7.71%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.93% | ||
| ROE | 5.43% | ||
| ROIC | 8.49% |
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 of 3.43%. This is in the lower half of the industry: HEIA underperforms 76.00% of its industry peers.
HEIA's Profit Margin has declined in the last couple of years.
HEIA has a worse Operating Margin (13.44%) than 60.00% of its industry peers.
HEIA's Operating Margin has declined in the last couple of years.
HEIA's Gross Margin of 19.91% is on the low side compared to the rest of the industry. HEIA is outperformed by 96.00% of its industry peers.
HEIA's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 13.44% | ||
| PM (TTM) | 3.43% | ||
| GM | 19.91% |
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.
HEIA has less shares outstanding than it did 1 year ago.
The number of shares outstanding for HEIA has been reduced compared to 5 years ago.
Compared to 1 year ago, HEIA has a worse debt to assets ratio.
2.2 Solvency
An Altman-Z score of 1.92 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 1.92, HEIA perfoms like the industry average, outperforming 48.00% of the companies in the same industry.
The Debt to FCF ratio of HEIA is 6.54, which is on the high side as it means it would take HEIA, 6.54 years of fcf income to pay off all of its debts.
HEIA has a better Debt to FCF ratio (6.54) than 92.00% of its industry peers.
HEIA has a Debt/Equity ratio of 0.79. This is a neutral value indicating HEIA is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.79, HEIA is in line with its industry, outperforming 60.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | 6.54 | ||
| Altman-Z | 1.92 |
ROIC/WACC1.44
WACC5.91%
2.3 Liquidity
HEIA has a Current Ratio of 0.78. This is a bad value and indicates that HEIA is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.78, HEIA is not doing good in the industry: 84.00% of the companies in the same industry are doing better.
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 64.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.78 | ||
| Quick Ratio | 0.52 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 2.97% over the past year.
The Earnings Per Share has been growing slightly by 1.90% on average over the past years.
The Revenue has been growing slightly by 3.04% in the past year.
The Revenue has been growing slightly by 6.19% on average over the past years.
EPS 1Y (TTM)2.97%
EPS 3Y32.67%
EPS 5Y1.9%
EPS Q2Q%5.81%
Revenue 1Y (TTM)3.04%
Revenue growth 3Y15.48%
Revenue growth 5Y6.19%
Sales Q2Q%22.8%
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 13.75% on average per year.
Based on estimates for the next years, HEIA will show a small growth in Revenue. The Revenue will grow by 5.47% on average per year.
EPS Next Y1.99%
EPS Next 2Y5.52%
EPS Next 3Y6.95%
EPS Next 5Y13.75%
Revenue Next Year-0.75%
Revenue Next 2Y0.68%
Revenue Next 3Y1.92%
Revenue Next 5Y5.47%
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
A Price/Earnings ratio of 14.47 indicates a correct valuation of HEIA.
84.00% of the companies in the same industry are more expensive than HEIA, based on the Price/Earnings ratio.
HEIA's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 29.48.
Based on the Price/Forward Earnings ratio of 13.33, the valuation of HEIA can be described as correct.
Based on the Price/Forward Earnings ratio, HEIA is valued a bit cheaper than 76.00% of the companies in the same industry.
HEIA is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 23.95, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.47 | ||
| Fwd PE | 13.33 |
4.2 Price Multiples
84.00% of the companies in the same industry are more expensive than HEIA, based on the Enterprise Value to EBITDA ratio.
72.00% of the companies in the same industry are more expensive than HEIA, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.85 | ||
| EV/EBITDA | 7.27 |
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)7.27
PEG (5Y)7.61
EPS Next 2Y5.52%
EPS Next 3Y6.95%
5. Dividend
5.1 Amount
HEIA has a Yearly Dividend Yield of 2.47%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 2.64, HEIA has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.19, HEIA has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.47% |
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 107.60% of its income as dividend. This is not a sustainable payout ratio.
HEIA's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP107.6%
EPS Next 2Y5.52%
EPS Next 3Y6.95%
HEINEKEN NV
AMS:HEIA (12/6/2024, 7:00:00 PM)
69.32
+1.02 (+1.49%)
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 Cap39.20B
Analysts
Price Target
Short Float %
Short Ratio
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.47% |
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)
Avg EPS beat(4)
Min EPS beat(4)
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EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
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Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
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 | 14.47 | ||
| Fwd PE | 13.33 | ||
| 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)7.27
PEG (5Y)7.61
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.93% | ||
| ROE | 5.43% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 13.44% | ||
| PM (TTM) | 3.43% | ||
| GM | 19.91% | ||
| 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 Turnover0.56
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.78 | ||
| 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)2.97%
EPS 3Y32.67%
EPS 5Y
EPS Q2Q%
EPS Next Y1.99%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)3.04%
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