HEINEKEN HOLDING NV (HEIO.AS) Stock Fundamental Analysis
Europe - AMS:HEIO - NL0000008977 - Common Stock
59.975 EUR
+0.18 (+0.29%)
Taking everything into account, HEIO scores 3 out of 10 in our fundamental rating. HEIO was compared to 25 industry peers in the Beverages industry. HEIO has a bad profitability rating. Also its financial health evaluation is rather negative. HEIO has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
HEIO had positive earnings in the past year.
HEIO had a positive operating cash flow in the past year.
Of the past 5 years HEIO 4 years were profitable.
Each year in the past 5 years HEIO had a positive operating cash flow.
1.2 Ratios
With a Return On Assets value of 1.80%, HEIO is not doing good in the industry: 76.00% of the companies in the same industry are doing better.
Looking at the Return On Equity, with a value of 10.82%, HEIO is in the better half of the industry, outperforming 72.00% of the companies in the same industry.
HEIO has a better Return On Invested Capital (6.70%) than 64.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for HEIO is in line with the industry average of 7.67%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.8% | ||
| ROE | 10.82% | ||
| ROIC | 6.7% |
ROA(3y)1.88%
ROA(5y)1.76%
ROE(3y)10.38%
ROE(5y)9.79%
ROIC(3y)7.38%
ROIC(5y)6.52%
1.3 Margins
Looking at the Profit Margin, with a value of 3.18%, HEIO is doing worse than 76.00% of the companies in the same industry.
In the last couple of years the Profit Margin of HEIO has declined.
The Operating Margin of HEIO (11.42%) is worse than 64.00% of its industry peers.
In the last couple of years the Operating Margin of HEIO has declined.
HEIO has a Gross Margin of 35.12%. This is amonst the worse of the industry: HEIO underperforms 88.00% of its industry peers.
In the last couple of years the Gross Margin of HEIO has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 11.42% | ||
| PM (TTM) | 3.18% | ||
| GM | 35.12% |
OM growth 3Y-4.64%
OM growth 5Y-3.09%
PM growth 3Y-39.54%
PM growth 5Y-18.06%
GM growth 3Y-0.99%
GM growth 5Y-1.07%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), HEIO is creating some value.
Compared to 1 year ago, HEIO has about the same amount of shares outstanding.
The number of shares outstanding for HEIO has been reduced compared to 5 years ago.
The debt/assets ratio for HEIO has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.22, we must say that HEIO is in the distress zone and has some risk of bankruptcy.
HEIO has a Altman-Z score of 1.22. This is amonst the worse of the industry: HEIO underperforms 88.00% of its industry peers.
HEIO has a debt to FCF ratio of 6.57. This is a slightly negative value and a sign of low solvency as HEIO would need 6.57 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 6.57, HEIO is doing good in the industry, outperforming 68.00% of the companies in the same industry.
A Debt/Equity ratio of 1.75 is on the high side and indicates that HEIO has dependencies on debt financing.
With a Debt to Equity ratio value of 1.75, HEIO is not doing good in the industry: 80.00% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.75 | ||
| Debt/FCF | 6.57 | ||
| Altman-Z | 1.22 |
ROIC/WACC1.29
WACC5.18%
2.3 Liquidity
HEIO has a Current Ratio of 0.75. This is a bad value and indicates that HEIO is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of HEIO (0.75) is worse than 80.00% of its industry peers.
A Quick Ratio of 0.51 indicates that HEIO may have some problems paying its short term obligations.
With a Quick ratio value of 0.51, HEIO is not doing good in the industry: 60.00% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.75 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 72.64% over the past year.
The earnings per share for HEIO have been decreasing by -14.14% on average. This is quite bad
HEIO shows a decrease in Revenue. In the last year, the revenue decreased by -4.96%.
HEIO shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.40% yearly.
EPS 1Y (TTM)72.64%
EPS 3Y-32.69%
EPS 5Y-14.14%
EPS Q2Q%892.99%
Revenue 1Y (TTM)-4.96%
Revenue growth 3Y10.66%
Revenue growth 5Y4.4%
Sales Q2Q%-4.34%
3.2 Future
HEIO is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 19.66% yearly.
HEIO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.48% yearly.
EPS Next Y14.02%
EPS Next 2Y23.84%
EPS Next 3Y43.18%
EPS Next 5Y19.66%
Revenue Next Year1.62%
Revenue Next 2Y6.88%
Revenue Next 3Y6.46%
Revenue Next 5Y1.48%
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
HEIO is valuated rather expensively with a Price/Earnings ratio of 18.29.
HEIO's Price/Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Earnings ratio of 27.00, HEIO is valued a bit cheaper.
HEIO is valuated reasonably with a Price/Forward Earnings ratio of 11.69.
Compared to the rest of the industry, the Price/Forward Earnings ratio of HEIO indicates a somewhat cheap valuation: HEIO is cheaper than 80.00% of the companies listed in the same industry.
HEIO's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.87.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.29 | ||
| Fwd PE | 11.69 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HEIO is valued cheaper than 92.00% of the companies in the same industry.
84.00% of the companies in the same industry are more expensive than HEIO, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.46 | ||
| EV/EBITDA | 5.25 |
4.3 Compensation for Growth
HEIO's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
HEIO's earnings are expected to grow with 43.18% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.3
PEG (5Y)N/A
EPS Next 2Y23.84%
EPS Next 3Y43.18%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.14%, HEIO has a reasonable but not impressive dividend return.
HEIO's Dividend Yield is a higher than the industry average which is at 2.94.
Compared to an average S&P500 Dividend Yield of 2.31, HEIO pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.14% |
5.2 History
The dividend of HEIO decreases each year by -0.04%.
Dividend Growth(5Y)-0.04%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
143.20% of the earnings are spent on dividend by HEIO. This is not a sustainable payout ratio.
DP143.2%
EPS Next 2Y23.84%
EPS Next 3Y43.18%
AMS:HEIO (10/29/2025, 1:38:53 PM)
59.975
+0.18 (+0.29%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)
Earnings (Next)
Inst Owners22.03%
Inst Owner ChangeN/A
Ins Owners2.35%
Ins Owner ChangeN/A
Market Cap17.27B
Revenue(TTM)29.09B
Net Income(TTM)926.00M
Analysts85
Price Target104.04 (73.47%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.14% |
Yearly Dividend4.24
Dividend Growth(5Y)-0.04%
DP143.2%
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)5.88%
PT rev (3m)3.03%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-22.25%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.29 | ||
| Fwd PE | 11.69 | ||
| P/S | 0.59 | ||
| P/FCF | 6.46 | ||
| P/OCF | 3.29 | ||
| P/B | 2.02 | ||
| P/tB | N/A | ||
| EV/EBITDA | 5.25 |
EPS(TTM)3.28
EY5.47%
EPS(NY)5.13
Fwd EY8.55%
FCF(TTM)9.29
FCFY15.49%
OCF(TTM)18.22
OCFY30.38%
SpS101
BVpS29.72
TBVpS-40.47
PEG (NY)1.3
PEG (5Y)N/A
Graham Number46.83
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.8% | ||
| ROE | 10.82% | ||
| ROCE | 9.11% | ||
| ROIC | 6.7% | ||
| ROICexc | 7.09% | ||
| ROICexgc | 16.24% | ||
| OM | 11.42% | ||
| PM (TTM) | 3.18% | ||
| GM | 35.12% | ||
| FCFM | 9.2% |
ROA(3y)1.88%
ROA(5y)1.76%
ROE(3y)10.38%
ROE(5y)9.79%
ROIC(3y)7.38%
ROIC(5y)6.52%
ROICexc(3y)7.86%
ROICexc(5y)7.05%
ROICexgc(3y)18.25%
ROICexgc(5y)16.48%
ROCE(3y)9.99%
ROCE(5y)8.83%
ROICexgc growth 3Y0.36%
ROICexgc growth 5Y1.38%
ROICexc growth 3Y2.47%
ROICexc growth 5Y-0.92%
OM growth 3Y-4.64%
OM growth 5Y-3.09%
PM growth 3Y-39.54%
PM growth 5Y-18.06%
GM growth 3Y-0.99%
GM growth 5Y-1.07%
F-Score7
Asset Turnover0.57
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.75 | ||
| Debt/FCF | 6.57 | ||
| Debt/EBITDA | 2.52 | ||
| Cap/Depr | 97.61% | ||
| Cap/Sales | 8.84% | ||
| Interest Coverage | 5.31 | ||
| Cash Conversion | 88.1% | ||
| Profit Quality | 288.88% | ||
| Current Ratio | 0.75 | ||
| Quick Ratio | 0.51 | ||
| Altman-Z | 1.22 |
F-Score7
WACC5.18%
ROIC/WACC1.29
Cap/Depr(3y)95.91%
Cap/Depr(5y)85.26%
Cap/Sales(3y)8.04%
Cap/Sales(5y)7.94%
Profit Quality(3y)314.8%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)72.64%
EPS 3Y-32.69%
EPS 5Y-14.14%
EPS Q2Q%892.99%
EPS Next Y14.02%
EPS Next 2Y23.84%
EPS Next 3Y43.18%
EPS Next 5Y19.66%
Revenue 1Y (TTM)-4.96%
Revenue growth 3Y10.66%
Revenue growth 5Y4.4%
Sales Q2Q%-4.34%
Revenue Next Year1.62%
Revenue Next 2Y6.88%
Revenue Next 3Y6.46%
Revenue Next 5Y1.48%
EBIT growth 1Y6.96%
EBIT growth 3Y5.53%
EBIT growth 5Y1.18%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y195.25%
FCF growth 3Y5.54%
FCF growth 5Y6.32%
OCF growth 1Y56.24%
OCF growth 3Y9.59%
OCF growth 5Y4.88%
HEINEKEN HOLDING NV / HEIO.AS FAQ
What is the fundamental rating for HEIO stock?
ChartMill assigns a fundamental rating of 3 / 10 to HEIO.AS.
What is the valuation status for HEIO stock?
ChartMill assigns a valuation rating of 6 / 10 to HEINEKEN HOLDING NV (HEIO.AS). This can be considered as Fairly Valued.
Can you provide the profitability details for HEINEKEN HOLDING NV?
HEINEKEN HOLDING NV (HEIO.AS) has a profitability rating of 3 / 10.
What are the PE and PB ratios of HEINEKEN HOLDING NV (HEIO.AS) stock?
The Price/Earnings (PE) ratio for HEINEKEN HOLDING NV (HEIO.AS) is 18.29 and the Price/Book (PB) ratio is 2.02.
Is the dividend of HEINEKEN HOLDING NV sustainable?
The dividend rating of HEINEKEN HOLDING NV (HEIO.AS) is 3 / 10 and the dividend payout ratio is 143.2%.