HEIDELBERG MATERIALS AG (HEI.DE) Stock Fundamental Analysis

FRA:HEI • DE0006047004

189.55 EUR
-0.45 (-0.24%)
Last: Feb 27, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

HEI gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 14 industry peers in the Construction Materials industry. HEI has an excellent profitability rating, but there are some minor concerns on its financial health. HEI is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • HEI had positive earnings in the past year.
  • In the past year HEI had a positive cash flow from operations.
  • Of the past 5 years HEI 4 years were profitable.
  • HEI had a positive operating cash flow in each of the past 5 years.
HEI.DE Yearly Net Income VS EBIT VS OCF VS FCFHEI.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 0 1B -1B 2B -2B 3B

1.2 Ratios

  • With a decent Return On Assets value of 5.14%, HEI is doing good in the industry, outperforming 64.29% of the companies in the same industry.
  • HEI has a Return On Equity of 10.35%. This is in the better half of the industry: HEI outperforms 64.29% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 7.73%, HEI is in the better half of the industry, outperforming 64.29% of the companies in the same industry.
  • HEI had an Average Return On Invested Capital over the past 3 years of 6.57%. This is in line with the industry average of 7.87%.
  • The last Return On Invested Capital (7.73%) for HEI is above the 3 year average (6.57%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 5.14%
ROE 10.35%
ROIC 7.73%
ROA(3y)5.01%
ROA(5y)2.72%
ROE(3y)10.11%
ROE(5y)5.12%
ROIC(3y)6.57%
ROIC(5y)6.16%
HEI.DE Yearly ROA, ROE, ROICHEI.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 -10 -15

1.3 Margins

  • HEI has a Profit Margin of 8.42%. This is in the better half of the industry: HEI outperforms 71.43% of its industry peers.
  • HEI's Profit Margin has improved in the last couple of years.
  • With a decent Operating Margin value of 13.55%, HEI is doing good in the industry, outperforming 64.29% of the companies in the same industry.
  • HEI's Operating Margin has improved in the last couple of years.
  • HEI's Gross Margin of 63.93% is fine compared to the rest of the industry. HEI outperforms 78.57% of its industry peers.
  • HEI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 13.55%
PM (TTM) 8.42%
GM 63.93%
OM growth 3Y8.85%
OM growth 5Y7.42%
PM growth 3Y-3.58%
PM growth 5Y7.79%
GM growth 3Y1.33%
GM growth 5Y1.2%
HEI.DE Yearly Profit, Operating, Gross MarginsHEI.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), HEI is creating some value.
  • Compared to 1 year ago, HEI has less shares outstanding
  • HEI has less shares outstanding than it did 5 years ago.
  • HEI has a better debt/assets ratio than last year.
HEI.DE Yearly Shares OutstandingHEI.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
HEI.DE Yearly Total Debt VS Total AssetsHEI.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

  • HEI has an Altman-Z score of 2.57. This is not the best score and indicates that HEI is in the grey zone with still only limited risk for bankruptcy at the moment.
  • HEI has a Altman-Z score (2.57) which is in line with its industry peers.
  • HEI has a debt to FCF ratio of 4.57. This is a neutral value as HEI would need 4.57 years to pay back of all of its debts.
  • The Debt to FCF ratio of HEI (4.57) is comparable to the rest of the industry.
  • A Debt/Equity ratio of 0.38 indicates that HEI is not too dependend on debt financing.
  • With a Debt to Equity ratio value of 0.38, HEI perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF 4.57
Altman-Z 2.57
ROIC/WACC1.13
WACC6.86%
HEI.DE Yearly LT Debt VS Equity VS FCFHEI.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.3 Liquidity

  • HEI has a Current Ratio of 1.13. This is a normal value and indicates that HEI is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 1.13, HEI is doing worse than 85.71% of the companies in the same industry.
  • HEI has a Quick Ratio of 1.13. This is a bad value and indicates that HEI is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Quick ratio of HEI (0.73) is worse than 78.57% of its industry peers.
Industry RankSector Rank
Current Ratio 1.13
Quick Ratio 0.73
HEI.DE Yearly Current Assets VS Current LiabilitesHEI.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

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

5

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 25.67% over the past year.
  • Measured over the past years, HEI shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.04% on average per year.
  • Looking at the last year, HEI shows a small growth in Revenue. The Revenue has grown by 4.68% in the last year.
  • The Revenue has been growing slightly by 5.34% on average over the past years.
EPS 1Y (TTM)25.67%
EPS 3Y12.66%
EPS 5Y11.04%
EPS Q2Q%N/A
Revenue 1Y (TTM)4.68%
Revenue growth 3Y10.31%
Revenue growth 5Y5.34%
Sales Q2Q%0.89%

3.2 Future

  • Based on estimates for the next years, HEI will show a quite strong growth in Earnings Per Share. The EPS will grow by 12.58% on average per year.
  • Based on estimates for the next years, HEI will show a small growth in Revenue. The Revenue will grow by 3.52% on average per year.
EPS Next Y6.17%
EPS Next 2Y9.35%
EPS Next 3Y11.32%
EPS Next 5Y12.58%
Revenue Next Year6.26%
Revenue Next 2Y-1%
Revenue Next 3Y1.22%
Revenue Next 5Y3.52%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last 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.
HEI.DE Yearly Revenue VS EstimatesHEI.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B 20B 25B
HEI.DE Yearly EPS VS EstimatesHEI.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5 10 15 20

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1

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 32.62, the valuation of HEI can be described as expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of HEI indicates a slightly more expensive valuation: HEI is more expensive than 64.29% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of HEI to the average of the S&P500 Index (27.07), we can say HEI is valued slightly more expensively.
  • A Price/Forward Earnings ratio of 27.31 indicates a quite expensive valuation of HEI.
  • 71.43% of the companies in the same industry are cheaper than HEI, based on the Price/Forward Earnings ratio.
  • HEI is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 28.05, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 32.62
Fwd PE 27.31
HEI.DE Price Earnings VS Forward Price EarningsHEI.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, HEI is valued a bit more expensive than the industry average as 78.57% of the companies are valued more cheaply.
  • HEI's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 17.66
EV/EBITDA 9.38
HEI.DE Per share dataHEI.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80 100

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates HEI does not grow enough to justify the current Price/Earnings ratio.
  • HEI has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)5.29
PEG (5Y)2.96
EPS Next 2Y9.35%
EPS Next 3Y11.32%

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

5

5. Dividend

5.1 Amount

  • HEI has a Yearly Dividend Yield of 1.74%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 2.49, HEI is paying slightly less dividend.
  • HEI's Dividend Yield is comparable with the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 1.74%

5.2 History

  • The dividend of HEI is nicely growing with an annual growth rate of 7.61%!
Dividend Growth(5Y)7.61%
Div Incr Years1
Div Non Decr Years4
HEI.DE Yearly Dividends per shareHEI.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

  • HEI pays out 33.05% of its income as dividend. This is a sustainable payout ratio.
  • HEI's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP33.05%
EPS Next 2Y9.35%
EPS Next 3Y11.32%
HEI.DE Yearly Income VS Free CF VS DividendHEI.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B -2B
HEI.DE Dividend Payout.HEI.DE Dividend Payout, showing the Payout Ratio.HEI.DE Dividend Payout.PayoutRetained Earnings

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HEIDELBERG MATERIALS AG

FRA:HEI (2/27/2026, 7:00:00 PM)

189.55

-0.45 (-0.24%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryConstruction Materials
Earnings (Last)02-25
Earnings (Next)07-30
Inst Owners43.35%
Inst Owner ChangeN/A
Ins Owners28.4%
Ins Owner ChangeN/A
Market Cap33.43B
Revenue(TTM)18.07B
Net Income(TTM)1.78B
Analysts72.14
Price Target247.52 (30.58%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.74%
Yearly Dividend3.03
Dividend Growth(5Y)7.61%
DP33.05%
Div Incr Years1
Div Non Decr Years4
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)4.21%
PT rev (3m)12.24%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.2%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)-0.26%
Revenue NY rev (3m)-0.75%
Valuation
Industry RankSector Rank
PE 32.62
Fwd PE 27.31
P/S 1.58
P/FCF 17.66
P/OCF 10.16
P/B 1.94
P/tB 4.19
EV/EBITDA 9.38
EPS(TTM)5.81
EY3.07%
EPS(NY)6.94
Fwd EY3.66%
FCF(TTM)10.73
FCFY5.66%
OCF(TTM)18.66
OCFY9.84%
SpS119.95
BVpS97.63
TBVpS45.22
PEG (NY)5.29
PEG (5Y)2.96
Graham Number112.97
Profitability
Industry RankSector Rank
ROA 5.14%
ROE 10.35%
ROCE 10.33%
ROIC 7.73%
ROICexc 8.12%
ROICexgc 12.48%
OM 13.55%
PM (TTM) 8.42%
GM 63.93%
FCFM 8.95%
ROA(3y)5.01%
ROA(5y)2.72%
ROE(3y)10.11%
ROE(5y)5.12%
ROIC(3y)6.57%
ROIC(5y)6.16%
ROICexc(3y)7.24%
ROICexc(5y)6.85%
ROICexgc(3y)11.06%
ROICexgc(5y)10.59%
ROCE(3y)8.78%
ROCE(5y)8.23%
ROICexgc growth 3Y8.18%
ROICexgc growth 5Y7.28%
ROICexc growth 3Y8.47%
ROICexc growth 5Y10.51%
OM growth 3Y8.85%
OM growth 5Y7.42%
PM growth 3Y-3.58%
PM growth 5Y7.79%
GM growth 3Y1.33%
GM growth 5Y1.2%
F-Score7
Asset Turnover0.61
Health
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF 4.57
Debt/EBITDA 1.49
Cap/Depr 94.45%
Cap/Sales 6.61%
Interest Coverage 9.11
Cash Conversion 75.7%
Profit Quality 106.26%
Current Ratio 1.13
Quick Ratio 0.73
Altman-Z 2.57
F-Score7
WACC6.86%
ROIC/WACC1.13
Cap/Depr(3y)98.1%
Cap/Depr(5y)88.57%
Cap/Sales(3y)6.42%
Cap/Sales(5y)6.47%
Profit Quality(3y)89.14%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)25.67%
EPS 3Y12.66%
EPS 5Y11.04%
EPS Q2Q%N/A
EPS Next Y6.17%
EPS Next 2Y9.35%
EPS Next 3Y11.32%
EPS Next 5Y12.58%
Revenue 1Y (TTM)4.68%
Revenue growth 3Y10.31%
Revenue growth 5Y5.34%
Sales Q2Q%0.89%
Revenue Next Year6.26%
Revenue Next 2Y-1%
Revenue Next 3Y1.22%
Revenue Next 5Y3.52%
EBIT growth 1Y8.81%
EBIT growth 3Y13.38%
EBIT growth 5Y9.93%
EBIT Next Year47.91%
EBIT Next 3Y19.54%
EBIT Next 5Y14.49%
FCF growth 1Y61.81%
FCF growth 3Y23.1%
FCF growth 5Y4.23%
OCF growth 1Y27.42%
OCF growth 3Y10.49%
OCF growth 5Y3.94%

HEIDELBERG MATERIALS AG / HEI.DE FAQ

What is the ChartMill fundamental rating of HEIDELBERG MATERIALS AG (HEI.DE) stock?

ChartMill assigns a fundamental rating of 5 / 10 to HEI.DE.


Can you provide the valuation status for HEIDELBERG MATERIALS AG?

ChartMill assigns a valuation rating of 1 / 10 to HEIDELBERG MATERIALS AG (HEI.DE). This can be considered as Overvalued.


Can you provide the profitability details for HEIDELBERG MATERIALS AG?

HEIDELBERG MATERIALS AG (HEI.DE) has a profitability rating of 7 / 10.


Can you provide the financial health for HEI stock?

The financial health rating of HEIDELBERG MATERIALS AG (HEI.DE) is 4 / 10.


What is the earnings growth outlook for HEIDELBERG MATERIALS AG?

The Earnings per Share (EPS) of HEIDELBERG MATERIALS AG (HEI.DE) is expected to grow by 6.17% in the next year.