HEINEKEN NV (HNK1.DE) Fundamental Analysis & Valuation

FRA:HNK1 • NL0000009165

71.6 EUR
-0.14 (-0.2%)
Last: Mar 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This HNK1.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

HNK1 gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 31 industry peers in the Beverages industry. There are concerns on the financial health of HNK1 while its profitability can be described as average. HNK1 has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

5

1. HNK1.DE Profitability Analysis

1.1 Basic Checks

  • In the past year HNK1 was profitable.
  • In the past year HNK1 had a positive cash flow from operations.
  • In the past 5 years HNK1 has always been profitable.
  • HNK1 had a positive operating cash flow in each of the past 5 years.
HNK1.DE Yearly Net Income VS EBIT VS OCF VS FCFHNK1.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B 2B 3B 4B 5B

1.2 Ratios

  • HNK1 has a Return On Assets (3.51%) which is in line with its industry peers.
  • HNK1 has a better Return On Equity (10.49%) than 61.29% of its industry peers.
  • The Return On Invested Capital of HNK1 (6.10%) is comparable to the rest of the industry.
  • HNK1 had an Average Return On Invested Capital over the past 3 years of 6.07%. This is below the industry average of 8.20%.
  • The 3 year average ROIC (6.07%) for HNK1 is below the current ROIC(6.10%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.51%
ROE 10.49%
ROIC 6.1%
ROA(3y)3.17%
ROA(5y)4.29%
ROE(3y)8.99%
ROE(5y)11.97%
ROIC(3y)6.07%
ROIC(5y)5.99%
HNK1.DE Yearly ROA, ROE, ROICHNK1.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 10 15

1.3 Margins

  • Looking at the Profit Margin, with a value of 6.56%, HNK1 is doing worse than 64.52% of the companies in the same industry.
  • In the last couple of years the Profit Margin of HNK1 has declined.
  • HNK1 has a Operating Margin (13.39%) which is comparable to the rest of the industry.
  • HNK1's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 20.21%, HNK1 is doing worse than 90.32% of the companies in the same industry.
  • HNK1's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 13.39%
PM (TTM) 6.56%
GM 20.21%
OM growth 3Y-3.01%
OM growth 5Y4.62%
PM growth 3Y-11.12%
PM growth 5YN/A
GM growth 3Y-0.31%
GM growth 5Y0.02%
HNK1.DE Yearly Profit, Operating, Gross MarginsHNK1.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30 40 50

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. HNK1.DE Health Analysis

2.1 Basic Checks

  • HNK1 has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • HNK1 has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, HNK1 has less shares outstanding
  • Compared to 1 year ago, HNK1 has a worse debt to assets ratio.
HNK1.DE Yearly Shares OutstandingHNK1.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
HNK1.DE Yearly Total Debt VS Total AssetsHNK1.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B 50B

2.2 Solvency

  • An Altman-Z score of 2.00 indicates that HNK1 is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • HNK1 has a Altman-Z score (2.00) which is in line with its industry peers.
  • The Debt to FCF ratio of HNK1 is 7.39, which is on the high side as it means it would take HNK1, 7.39 years of fcf income to pay off all of its debts.
  • With a decent Debt to FCF ratio value of 7.39, HNK1 is doing good in the industry, outperforming 61.29% of the companies in the same industry.
  • HNK1 has a Debt/Equity ratio of 0.95. This is a neutral value indicating HNK1 is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.95, HNK1 perfoms like the industry average, outperforming 48.39% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.95
Debt/FCF 7.39
Altman-Z 2
ROIC/WACC1.04
WACC5.84%
HNK1.DE Yearly LT Debt VS Equity VS FCFHNK1.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

2.3 Liquidity

  • HNK1 has a Current Ratio of 0.93. This is a bad value and indicates that HNK1 is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 0.93, HNK1 is doing worse than 67.74% of the companies in the same industry.
  • HNK1 has a Quick Ratio of 0.93. This is a bad value and indicates that HNK1 is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Quick ratio of HNK1 (0.69) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 0.93
Quick Ratio 0.69
HNK1.DE Yearly Current Assets VS Current LiabilitesHNK1.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. HNK1.DE Growth Analysis

3.1 Past

  • HNK1 shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -2.15%.
  • HNK1 shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 19.04% yearly.
  • Looking at the last year, HNK1 shows a decrease in Revenue. The Revenue has decreased by -3.58% in the last year.
  • The Revenue has been growing slightly by 7.83% on average over the past years.
EPS 1Y (TTM)-2.15%
EPS 3Y-0.98%
EPS 5Y19.04%
EPS Q2Q%-1.35%
Revenue 1Y (TTM)-3.58%
Revenue growth 3Y0.03%
Revenue growth 5Y7.83%
Sales Q2Q%-2.83%

3.2 Future

  • The Earnings Per Share is expected to grow by 12.00% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 4.87% on average over the next years.
EPS Next Y10.21%
EPS Next 2Y9.34%
EPS Next 3Y8.67%
EPS Next 5Y12%
Revenue Next Year6.37%
Revenue Next 2Y5.17%
Revenue Next 3Y4.53%
Revenue Next 5Y4.87%

3.3 Evolution

  • Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
HNK1.DE Yearly Revenue VS EstimatesHNK1.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B
HNK1.DE Yearly EPS VS EstimatesHNK1.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6 8

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5

4. HNK1.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 14.98, HNK1 is valued correctly.
  • 67.74% of the companies in the same industry are more expensive than HNK1, based on the Price/Earnings ratio.
  • The average S&P500 Price/Earnings ratio is at 26.29. HNK1 is valued slightly cheaper when compared to this.
  • A Price/Forward Earnings ratio of 13.59 indicates a correct valuation of HNK1.
  • 64.52% of the companies in the same industry are more expensive than HNK1, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.60, HNK1 is valued a bit cheaper.
Industry RankSector Rank
PE 14.98
Fwd PE 13.59
HNK1.DE Price Earnings VS Forward Price EarningsHNK1.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 80.65% of the companies in the same industry are more expensive than HNK1, based on the Enterprise Value to EBITDA ratio.
  • 64.52% of the companies in the same industry are more expensive than HNK1, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 15.8
EV/EBITDA 8.48
HNK1.DE Per share dataHNK1.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40

4.3 Compensation for Growth

  • HNK1's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.47
PEG (5Y)0.79
EPS Next 2Y9.34%
EPS Next 3Y8.67%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. HNK1.DE Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.64%, HNK1 has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.60, HNK1 has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, HNK1 pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.64%

5.2 History

  • On average, the dividend of HNK1 grows each year by 9.98%, which is quite nice.
Dividend Growth(5Y)9.98%
Div Incr YearsN/A
Div Non Decr YearsN/A
HNK1.DE Yearly Dividends per shareHNK1.DE Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2026 0.5 1 1.5

5.3 Sustainability

  • 67.69% of the earnings are spent on dividend by HNK1. This is not a sustainable payout ratio.
  • HNK1's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP67.69%
EPS Next 2Y9.34%
EPS Next 3Y8.67%
HNK1.DE Yearly Income VS Free CF VS DividendHNK1.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B 2B 3B
HNK1.DE Dividend Payout.HNK1.DE Dividend Payout, showing the Payout Ratio.HNK1.DE Dividend Payout.PayoutRetained Earnings

More info and screens

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HNK1.DE Fundamentals: All Metrics, Ratios and Statistics

HEINEKEN NV

FRA:HNK1 (3/6/2026, 7:00:00 PM)

71.6

-0.14 (-0.2%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)02-11
Earnings (Next)04-23
Inst Owners24.54%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap41.24B
Revenue(TTM)28.75B
Net Income(TTM)1.89B
Analysts78.71
Price Target91 (27.09%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.64%
Yearly Dividend2.27
Dividend Growth(5Y)9.98%
DP67.69%
Div Incr YearsN/A
Div Non Decr YearsN/A
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)5.64%
PT rev (3m)3.68%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)2.17%
EPS NY rev (3m)1.07%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)1.5%
Revenue NY rev (3m)1.28%
Valuation
Industry RankSector Rank
PE 14.98
Fwd PE 13.59
P/S 1.43
P/FCF 15.8
P/OCF 8.23
P/B 2.29
P/tB N/A
EV/EBITDA 8.48
EPS(TTM)4.78
EY6.68%
EPS(NY)5.27
Fwd EY7.36%
FCF(TTM)4.53
FCFY6.33%
OCF(TTM)8.7
OCFY12.15%
SpS49.92
BVpS31.21
TBVpS-3.53
PEG (NY)1.47
PEG (5Y)0.79
Graham Number57.94
Profitability
Industry RankSector Rank
ROA 3.51%
ROE 10.49%
ROCE 9.67%
ROIC 6.1%
ROICexc 6.91%
ROICexgc 15.55%
OM 13.39%
PM (TTM) 6.56%
GM 20.21%
FCFM 9.08%
ROA(3y)3.17%
ROA(5y)4.29%
ROE(3y)8.99%
ROE(5y)11.97%
ROIC(3y)6.07%
ROIC(5y)5.99%
ROICexc(3y)6.58%
ROICexc(5y)6.49%
ROICexgc(3y)14.91%
ROICexgc(5y)15.08%
ROCE(3y)9.67%
ROCE(5y)9.58%
ROICexgc growth 3Y-3.49%
ROICexgc growth 5Y8.38%
ROICexc growth 3Y-1.96%
ROICexc growth 5Y7.93%
OM growth 3Y-3.01%
OM growth 5Y4.62%
PM growth 3Y-11.12%
PM growth 5YN/A
GM growth 3Y-0.31%
GM growth 5Y0.02%
F-Score6
Asset Turnover0.53
Health
Industry RankSector Rank
Debt/Equity 0.95
Debt/FCF 7.39
Debt/EBITDA 2.66
Cap/Depr 92.07%
Cap/Sales 8.35%
Interest Coverage 6.2
Cash Conversion 77.59%
Profit Quality 138.46%
Current Ratio 0.93
Quick Ratio 0.69
Altman-Z 2
F-Score6
WACC5.84%
ROIC/WACC1.04
Cap/Depr(3y)91.05%
Cap/Depr(5y)92.26%
Cap/Sales(3y)8.47%
Cap/Sales(5y)7.94%
Profit Quality(3y)175.06%
Profit Quality(5y)139.12%
High Growth Momentum
Growth
EPS 1Y (TTM)-2.15%
EPS 3Y-0.98%
EPS 5Y19.04%
EPS Q2Q%-1.35%
EPS Next Y10.21%
EPS Next 2Y9.34%
EPS Next 3Y8.67%
EPS Next 5Y12%
Revenue 1Y (TTM)-3.58%
Revenue growth 3Y0.03%
Revenue growth 5Y7.83%
Sales Q2Q%-2.83%
Revenue Next Year6.37%
Revenue Next 2Y5.17%
Revenue Next 3Y4.53%
Revenue Next 5Y4.87%
EBIT growth 1Y0.76%
EBIT growth 3Y-2.98%
EBIT growth 5Y12.81%
EBIT Next Year67.04%
EBIT Next 3Y22.66%
EBIT Next 5Y14.86%
FCF growth 1Y-14.09%
FCF growth 3Y1.65%
FCF growth 5Y11.77%
OCF growth 1Y-8.92%
OCF growth 3Y3.69%
OCF growth 5Y9.83%

HEINEKEN NV / HNK1.DE FAQ

What is the fundamental rating for HNK1 stock?

ChartMill assigns a fundamental rating of 4 / 10 to HNK1.DE.


Can you provide the valuation status for HEINEKEN NV?

ChartMill assigns a valuation rating of 5 / 10 to HEINEKEN NV (HNK1.DE). This can be considered as Fairly Valued.


How profitable is HEINEKEN NV (HNK1.DE) stock?

HEINEKEN NV (HNK1.DE) has a profitability rating of 5 / 10.


What are the PE and PB ratios of HEINEKEN NV (HNK1.DE) stock?

The Price/Earnings (PE) ratio for HEINEKEN NV (HNK1.DE) is 14.98 and the Price/Book (PB) ratio is 2.29.


Can you provide the expected EPS growth for HNK1 stock?

The Earnings per Share (EPS) of HEINEKEN NV (HNK1.DE) is expected to grow by 10.21% in the next year.