HEINEKEN HOLDING NV (HEIO.AS) Stock Fundamental Analysis
AMS:HEIO - Euronext Amsterdam - NL0000008977 - Common Stock - Currency: EUR
We assign a fundamental rating of 3 out of 10 to HEIO. HEIO was compared to 24 industry peers in the Beverages industry. HEIO may be in some trouble as it scores bad on both profitability and health. HEIO has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
In the past year HEIO was profitable.
In the past year HEIO had a positive cash flow from operations.
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
The Return On Assets of HEIO (0.93%) is worse than 79.17% of its industry peers.
HEIO's Return On Equity of 5.22% is on the low side compared to the rest of the industry. HEIO is outperformed by 66.67% of its industry peers.
Looking at the Return On Invested Capital, with a value of 6.51%, HEIO is in line with its industry, outperforming 45.83% of the companies in the same industry.
HEIO had an Average Return On Invested Capital over the past 3 years of 7.38%. This is in line with the industry average of 8.12%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.93% | ||
| ROE | 5.22% | ||
| ROIC | 6.51% |
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
HEIO has a Profit Margin of 1.67%. This is amonst the worse of the industry: HEIO underperforms 83.33% of its industry peers.
In the last couple of years the Profit Margin of HEIO has declined.
HEIO has a Operating Margin (11.54%) which is in line with its industry peers.
HEIO's Operating Margin has declined in the last couple of years.
The Gross Margin of HEIO (35.05%) is worse than 83.33% 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 | 11.54% | ||
| PM (TTM) | 1.67% | ||
| GM | 35.05% |
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
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so HEIO is still creating some value.
Compared to 1 year ago, HEIO has about the same amount of shares outstanding.
HEIO has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, HEIO has an improved debt to assets ratio.
2.2 Solvency
HEIO has an Altman-Z score of 1.24. This is a bad value and indicates that HEIO is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.24, HEIO is doing worse than 83.33% of the companies in the same industry.
HEIO has a debt to FCF ratio of 5.61. This is a neutral value as HEIO would need 5.61 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 5.61, HEIO is in the better half of the industry, outperforming 79.17% of the companies in the same industry.
HEIO has a Debt/Equity ratio of 1.56. This is a high value indicating a heavy dependency on external financing.
HEIO's Debt to Equity ratio of 1.56 is on the low side compared to the rest of the industry. HEIO is outperformed by 62.50% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.56 | ||
| Debt/FCF | 5.61 | ||
| Altman-Z | 1.24 |
ROIC/WACC1.21
WACC5.38%
2.3 Liquidity
HEIO has a Current Ratio of 0.77. This is a bad value and indicates that HEIO is not financially healthy enough and could expect problems in meeting its short term obligations.
HEIO has a Current ratio of 0.77. This is in the lower half of the industry: HEIO underperforms 79.17% of its industry peers.
HEIO has a Quick Ratio of 0.77. This is a bad value and indicates that HEIO is not financially healthy enough and could expect problems in meeting its short term obligations.
HEIO has a worse Quick ratio (0.51) than 66.67% 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 for HEIO have decreased strongly by -57.42% in the last year.
Measured over the past years, HEIO shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -14.14% on average per year.
The Revenue has decreased by -1.89% in the past year.
Measured over the past years, HEIO shows a small growth in Revenue. The Revenue has been growing by 4.40% on average per year.
EPS 1Y (TTM)-57.42%
EPS 3Y-32.69%
EPS 5Y-14.14%
EPS Q2Q%-6.63%
Revenue 1Y (TTM)-1.89%
Revenue growth 3Y10.66%
Revenue growth 5Y4.4%
Sales Q2Q%-5.53%
3.2 Future
The Earnings Per Share is expected to grow by 22.28% on average over the next years. This is a very strong growth
Based on estimates for the next years, HEIO will show a small growth in Revenue. The Revenue will grow by 1.92% on average per year.
EPS Next Y46.65%
EPS Next 2Y61.18%
EPS Next 3Y43.18%
EPS Next 5Y22.28%
Revenue Next Year1.62%
Revenue Next 2Y6.88%
Revenue Next 3Y6.46%
Revenue Next 5Y1.92%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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 quite expensively with a Price/Earnings ratio of 39.46.
Compared to the rest of the industry, the Price/Earnings ratio of HEIO indicates a rather expensive valuation: HEIO more expensive than 83.33% of the companies listed in the same industry.
HEIO is valuated rather expensively when we compare the Price/Earnings ratio to 28.18, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 14.16 indicates a correct valuation of HEIO.
Based on the Price/Forward Earnings ratio, HEIO is valued a bit cheaper than 66.67% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of HEIO to the average of the S&P500 Index (20.81), we can say HEIO is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 39.46 | ||
| Fwd PE | 14.16 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HEIO is valued cheaply inside the industry as 91.67% of the companies are valued more expensively.
91.67% 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 | 6.58 | ||
| EV/EBITDA | 5.56 |
4.3 Compensation for Growth
HEIO's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap 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)0.85
PEG (5Y)N/A
EPS Next 2Y61.18%
EPS Next 3Y43.18%
5. Dividend
5.1 Amount
HEIO has a Yearly Dividend Yield of 2.70%. Purely for dividend investing, there may be better candidates out there.
HEIO's Dividend Yield is comparable with the industry average which is at 2.88.
Compared to an average S&P500 Dividend Yield of 2.45, HEIO has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.7% |
5.2 History
The dividend of HEIO decreases each year by -0.04%.
Dividend Growth(5Y)-0.04%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
HEIO pays out 240.76% of its income as dividend. This is not a sustainable payout ratio.
DP240.76%
EPS Next 2Y61.18%
EPS Next 3Y43.18%
AMS:HEIO (5/5/2025, 11:51:50 AM)
69.45
+0.15 (+0.22%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)
Earnings (Next)
Inst Owners25.77%
Inst Owner ChangeN/A
Ins Owners2.35%
Ins Owner ChangeN/A
Market Cap20.00B
Analysts85.71
Price Target93.33 (34.38%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.7% |
Yearly Dividend4.24
Dividend Growth(5Y)-0.04%
DP240.76%
Div Incr Years2
Div Non Decr Years2
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)-2.66%
PT rev (3m)-3.17%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
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 | 39.46 | ||
| Fwd PE | 14.16 | ||
| P/S | 0.67 | ||
| P/FCF | 6.58 | ||
| P/OCF | 3.64 | ||
| P/B | 2.1 | ||
| P/tB | N/A | ||
| EV/EBITDA | 5.56 |
EPS(TTM)1.76
EY2.53%
EPS(NY)4.91
Fwd EY7.06%
FCF(TTM)10.55
FCFY15.19%
OCF(TTM)19.11
OCFY27.51%
SpS103.23
BVpS33.14
TBVpS-42.2
PEG (NY)0.85
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.93% | ||
| ROE | 5.22% | ||
| ROCE | 8.74% | ||
| ROIC | 6.51% | ||
| ROICexc | 6.91% | ||
| ROICexgc | 16.13% | ||
| OM | 11.54% | ||
| PM (TTM) | 1.67% | ||
| GM | 35.05% | ||
| FCFM | 10.22% |
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%
ROICexcg growth 3Y0.36%
ROICexcg 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-Score6
Asset Turnover0.56
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.56 | ||
| Debt/FCF | 5.61 | ||
| Debt/EBITDA | 2.46 | ||
| Cap/Depr | 94.63% | ||
| Cap/Sales | 8.29% | ||
| Interest Coverage | 5.13 | ||
| Cash Conversion | 91.18% | ||
| Profit Quality | 610.04% | ||
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.51 | ||
| Altman-Z | 1.24 |
F-Score6
WACC5.38%
ROIC/WACC1.21
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)-57.42%
EPS 3Y-32.69%
EPS 5Y-14.14%
EPS Q2Q%-6.63%
EPS Next Y46.65%
EPS Next 2Y61.18%
EPS Next 3Y43.18%
EPS Next 5Y22.28%
Revenue 1Y (TTM)-1.89%
Revenue growth 3Y10.66%
Revenue growth 5Y4.4%
Sales Q2Q%-5.53%
Revenue Next Year1.62%
Revenue Next 2Y6.88%
Revenue Next 3Y6.46%
Revenue Next 5Y1.92%
EBIT growth 1Y8.07%
EBIT growth 3Y5.53%
EBIT growth 5Y1.18%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y73.3%
FCF growth 3Y5.54%
FCF growth 5Y6.32%
OCF growth 1Y24.22%
OCF growth 3Y9.59%
OCF growth 5Y4.88%