HEINEKEN HOLDING NV (HEIO.AS) Stock Fundamental Analysis
AMS:HEIO - Euronext Amsterdam - NL0000008977 - Common Stock - Currency: EUR
Taking everything into account, HEIO scores 3 out of 10 in our fundamental rating. HEIO was compared to 27 industry peers in the Beverages industry. HEIO may be in some trouble as it scores bad on both profitability and health. HEIO is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year HEIO was profitable.
HEIO had a positive operating cash flow in the past year.
Of the past 5 years HEIO 4 years were profitable.
HEIO had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
HEIO has a worse Return On Assets (0.93%) than 74.07% of its industry peers.
The Return On Equity of HEIO (5.22%) is worse than 62.96% of its industry peers.
With a Return On Invested Capital value of 6.51%, HEIO perfoms like the industry average, outperforming 44.44% 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 8.68%.
| 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
The Profit Margin of HEIO (1.67%) is worse than 77.78% of its industry peers.
HEIO's Profit Margin has declined in the last couple of years.
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.
With a Gross Margin value of 35.05%, HEIO is not doing good in the industry: 85.19% of the companies in the same industry are doing better.
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.
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 1.23. 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 1.23, HEIO is not doing good in the industry: 85.19% 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.
With a decent Debt to FCF ratio value of 5.61, HEIO is doing good in the industry, outperforming 77.78% of the companies in the same industry.
A Debt/Equity ratio of 1.56 is on the high side and indicates that HEIO has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.56, HEIO is doing worse than 66.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.56 | ||
| Debt/FCF | 5.61 | ||
| Altman-Z | 1.23 |
ROIC/WACC1.21
WACC5.37%
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 amonst the worse of the industry: HEIO underperforms 81.48% 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 Quick ratio of 0.51. This is in the lower half of the industry: HEIO underperforms 70.37% of its industry peers.
| 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%.
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.
HEIO shows a decrease in Revenue. In the last year, the revenue decreased by -1.89%.
HEIO shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.40% yearly.
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 22.28% yearly.
HEIO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.92% yearly.
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
The Price/Earnings ratio is 38.98, which means the current valuation is very expensive for HEIO.
Compared to the rest of the industry, the Price/Earnings ratio of HEIO indicates a rather expensive valuation: HEIO more expensive than 81.48% of the companies listed in the same industry.
HEIO's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 26.25.
A Price/Forward Earnings ratio of 13.98 indicates a correct valuation of HEIO.
Compared to the rest of the industry, the Price/Forward Earnings ratio of HEIO indicates a somewhat cheap valuation: HEIO is cheaper than 70.37% of the companies listed in the same industry.
HEIO is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.15, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 38.98 | ||
| Fwd PE | 13.98 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HEIO indicates a rather cheap valuation: HEIO is cheaper than 92.59% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, HEIO is valued cheaper than 92.59% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.5 | ||
| EV/EBITDA | 5.5 |
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)0.84
PEG (5Y)N/A
EPS Next 2Y61.18%
EPS Next 3Y43.18%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.70%, HEIO has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 2.78, HEIO pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.40, 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
240.76% of the earnings are spent on dividend by HEIO. This is not a sustainable payout ratio.
DP240.76%
EPS Next 2Y61.18%
EPS Next 3Y43.18%
AMS:HEIO (5/30/2025, 7:00:00 PM)
68.6
+0.65 (+0.96%)
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 Cap19.76B
Analysts85.71
Price Target91.8 (33.82%)
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)-4.26%
PT rev (3m)-4.76%
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 | 38.98 | ||
| Fwd PE | 13.98 | ||
| P/S | 0.66 | ||
| P/FCF | 6.5 | ||
| P/OCF | 3.59 | ||
| P/B | 2.07 | ||
| P/tB | N/A | ||
| EV/EBITDA | 5.5 |
EPS(TTM)1.76
EY2.57%
EPS(NY)4.91
Fwd EY7.15%
FCF(TTM)10.55
FCFY15.38%
OCF(TTM)19.11
OCFY27.85%
SpS103.23
BVpS33.14
TBVpS-42.2
PEG (NY)0.84
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 | 1.23 |
F-Score6
WACC5.37%
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%