HEIDELBERG MATERIALS AG (HEI.DE) Stock Fundamental Analysis

FRA:HEI • DE0006047004

200.8 EUR
-2.7 (-1.33%)
Last: Feb 24, 2026, 05:36 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

Taking everything into account, HEI scores 5 out of 10 in our fundamental rating. HEI was compared to 14 industry peers in the Construction Materials industry. Both the profitability and the financial health of HEI get a neutral evaluation. Nothing too spectacular is happening here. HEI is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year HEI was profitable.
  • HEI had a positive operating cash flow in the past year.
  • 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 Return On Assets value of 5.14%, HEI perfoms like the industry average, outperforming 57.14% of the companies in the same industry.
  • With a Return On Equity value of 10.35%, HEI perfoms like the industry average, outperforming 57.14% of the companies in the same industry.
  • HEI has a Return On Invested Capital (7.73%) which is in line with its industry peers.
  • 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 7.90%.
  • The 3 year average ROIC (6.57%) for HEI is below the current ROIC(7.73%), indicating increased profibility in the last year.
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

  • With a decent Profit Margin value of 8.42%, HEI is doing good in the industry, outperforming 64.29% of the companies in the same industry.
  • In the last couple of years the Profit Margin of HEI has grown nicely.
  • Looking at the Operating Margin, with a value of 13.55%, HEI is in line with its industry, outperforming 57.14% of the companies in the same industry.
  • HEI's Operating Margin has improved in the last couple of years.
  • HEI has a Gross Margin of 63.93%. This is in the better half of the industry: HEI outperforms 71.43% 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.
  • The debt/assets ratio for HEI has been reduced compared to a year ago.
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

  • An Altman-Z score of 2.65 indicates that HEI is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • HEI has a Altman-Z score (2.65) which is comparable to the rest of the industry.
  • 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.
  • HEI has a worse Debt to FCF ratio (4.57) than 64.29% of its industry peers.
  • HEI has a Debt/Equity ratio of 0.38. This is a healthy value indicating a solid balance between debt and equity.
  • HEI has a Debt to Equity ratio of 0.38. This is comparable to the rest of the industry: HEI outperforms 42.86% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF 4.57
Altman-Z 2.65
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 92.86% of the companies in the same industry.
  • A Quick Ratio of 0.73 indicates that HEI may have some problems paying its short term obligations.
  • The Quick ratio of HEI (0.73) is worse than 85.71% 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

  • HEI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 25.67%, which is quite impressive.
  • 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.
  • HEI shows a small growth in Revenue. In the last year, the Revenue has grown by 4.68%.
  • HEI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.34% yearly.
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

  • The Earnings Per Share is expected to grow by 12.58% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 3.52% on average over the next years.
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.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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 34.56, the valuation of HEI can be described as expensive.
  • Based on the Price/Earnings ratio, HEI is valued a bit more expensive than 71.43% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.64, HEI is valued a bit more expensive.
  • HEI is valuated quite expensively with a Price/Forward Earnings ratio of 28.93.
  • Based on the Price/Forward Earnings ratio, HEI is valued a bit more expensive than the industry average as 78.57% of the companies are valued more cheaply.
  • HEI is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 27.75, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 34.56
Fwd PE 28.93
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

  • HEI's Enterprise Value to EBITDA ratio is rather expensive when compared to the industry. HEI is more expensive than 85.71% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of HEI indicates a slightly more expensive valuation: HEI is more expensive than 64.29% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 18.71
EV/EBITDA 9.94
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)5.6
PEG (5Y)3.13
EPS Next 2Y9.35%
EPS Next 3Y11.32%

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

6

5. Dividend

5.1 Amount

  • HEI has a Yearly Dividend Yield of 1.74%.
  • Compared to an average industry Dividend Yield of 2.76, HEI has a dividend in line with its industry peers.
  • HEI's Dividend Yield is comparable with the S&P500 average which is at 1.80.
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

  • 33.05% of the earnings are spent on dividend by HEI. This is a low number and sustainable payout ratio.
  • The dividend of HEI is growing, but earnings are growing more, so the dividend growth is 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 (2/24/2026, 5:36:15 PM)

200.8

-2.7 (-1.33%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryConstruction Materials
Earnings (Last)11-06
Earnings (Next)02-25
Inst Owners43.35%
Inst Owner ChangeN/A
Ins Owners28.4%
Ins Owner ChangeN/A
Market Cap35.42B
Revenue(TTM)18.07B
Net Income(TTM)1.78B
Analysts72.14
Price Target247.28 (23.15%)
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)4.11%
PT rev (3m)12.13%
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%
Revenue NY rev (3m)-0.49%
Valuation
Industry RankSector Rank
PE 34.56
Fwd PE 28.93
P/S 1.67
P/FCF 18.71
P/OCF 10.76
P/B 2.06
P/tB 4.44
EV/EBITDA 9.94
EPS(TTM)5.81
EY2.89%
EPS(NY)6.94
Fwd EY3.46%
FCF(TTM)10.73
FCFY5.35%
OCF(TTM)18.66
OCFY9.29%
SpS119.95
BVpS97.63
TBVpS45.22
PEG (NY)5.6
PEG (5Y)3.13
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 2.65
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 3Y19.75%
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 6 / 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.