HEINEKEN HOLDING NV (HEIO.AS) Stock Fundamental Analysis
AMS:HEIO - Euronext Amsterdam - NL0000008977 - Common Stock - Currency: EUR
HEIO gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 24 industry peers in the Beverages industry. HEIO may be in some trouble as it scores bad on both profitability and health. HEIO is not valued too expensively and it also shows a decent growth rate.
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.
HEIO had positive earnings in 4 of the past 5 years.
Each year in the past 5 years HEIO had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 0.93%, HEIO is doing worse than 79.17% of the companies in the same industry.
The Return On Equity of HEIO (5.22%) is worse than 66.67% of its industry peers.
HEIO's Return On Invested Capital of 6.51% is in line compared to the rest of the industry. HEIO outperforms 54.17% 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 8.00%.
| 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's Profit Margin of 1.67% is on the low side compared to the rest of the industry. HEIO is outperformed by 79.17% of its industry peers.
In the last couple of years the Profit Margin of HEIO has declined.
The Operating Margin of HEIO (11.54%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of HEIO has declined.
HEIO has a Gross Margin of 35.05%. This is in the lower half of the industry: HEIO underperforms 79.17% 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
HEIO has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for HEIO remains at a similar level compared to 1 year ago.
The number of shares outstanding for HEIO has been reduced compared to 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 1.22. This is a bad value and indicates that HEIO is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 1.22, HEIO is not doing good in the industry: 83.33% of the companies in the same industry are doing better.
The Debt to FCF ratio of HEIO is 5.61, which is a neutral value as it means it would take HEIO, 5.61 years of fcf income to pay off all of its debts.
HEIO's Debt to FCF ratio of 5.61 is amongst the best of the industry. HEIO outperforms 83.33% of its industry peers.
A Debt/Equity ratio of 1.56 is on the high side and indicates that HEIO has dependencies on debt 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 66.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.56 | ||
| Debt/FCF | 5.61 | ||
| Altman-Z | 1.22 |
ROIC/WACC1.26
WACC5.17%
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.
Looking at the Current ratio, with a value of 0.77, HEIO is doing worse than 70.83% of the companies in the same industry.
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 perfoms like the industry average, outperforming 45.83% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
HEIO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -57.42%.
HEIO shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -14.14% yearly.
HEIO shows a decrease in Revenue. In the last year, the revenue decreased by -1.89%.
The Revenue has been growing slightly by 4.40% on average over the past years.
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
HEIO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 43.18% yearly.
The Revenue is expected to grow by 6.46% on average over the next years.
EPS Next Y46.65%
EPS Next 2Y61.18%
EPS Next 3Y43.18%
EPS Next 5YN/A
Revenue Next Year1.62%
Revenue Next 2Y6.88%
Revenue Next 3Y6.46%
Revenue Next 5YN/A
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 accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
HEIO is valuated quite expensively with a Price/Earnings ratio of 38.27.
Based on the Price/Earnings ratio, HEIO is valued a bit more expensive than the industry average as 79.17% of the companies are valued more cheaply.
HEIO is valuated rather expensively when we compare the Price/Earnings ratio to 28.80, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 13.73, HEIO is valued correctly.
HEIO's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. HEIO is cheaper than 70.83% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of HEIO to the average of the S&P500 Index (21.91), we can say HEIO is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 38.27 | ||
| Fwd PE | 13.73 |
4.2 Price Multiples
HEIO's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. HEIO is cheaper than 87.50% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, HEIO is valued cheaply inside the industry as 91.67% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.39 | ||
| EV/EBITDA | 5.41 |
4.3 Compensation for Growth
The 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)0.82
PEG (5Y)N/A
EPS Next 2Y61.18%
EPS Next 3Y43.18%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.73%, HEIO has a reasonable but not impressive dividend return.
HEIO's Dividend Yield is a higher than the industry average which is at 2.71.
Compared to an average S&P500 Dividend Yield of 2.39, HEIO has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.73% |
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 (3/28/2025, 2:30:01 PM)
67.35
+1.15 (+1.74%)
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 Cap19.40B
Analysts82.5
Price Target96.39 (43.12%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.73% |
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)0%
PT rev (3m)0%
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 | 38.27 | ||
| Fwd PE | 13.73 | ||
| P/S | 0.65 | ||
| P/FCF | 6.39 | ||
| P/OCF | 3.53 | ||
| P/B | 2.03 | ||
| P/tB | N/A | ||
| EV/EBITDA | 5.41 |
EPS(TTM)1.76
EY2.61%
EPS(NY)4.91
Fwd EY7.28%
FCF(TTM)10.55
FCFY15.66%
OCF(TTM)19.11
OCFY28.37%
SpS103.23
BVpS33.14
TBVpS-42.2
PEG (NY)0.82
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 | 1.22 |
F-Score6
WACC5.17%
ROIC/WACC1.26
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 5YN/A
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 5YN/A
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%