HEINEKEN NV (HEIA.AS) Stock Fundamental Analysis
AMS:HEIA - Euronext Amsterdam - NL0000009165 - Common Stock - Currency: EUR
Taking everything into account, HEIA scores 4 out of 10 in our fundamental rating. HEIA was compared to 23 industry peers in the Beverages industry. HEIA scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. HEIA is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year HEIA was profitable.
HEIA had a positive operating cash flow in the past year.
Of the past 5 years HEIA 4 years were profitable.
In the past 5 years HEIA always reported a positive cash flow from operatings.
1.2 Ratios
With a Return On Assets value of 1.82%, HEIA is not doing good in the industry: 73.91% of the companies in the same industry are doing better.
HEIA's Return On Equity of 4.99% is on the low side compared to the rest of the industry. HEIA is outperformed by 73.91% of its industry peers.
With a decent Return On Invested Capital value of 7.20%, HEIA is doing good in the industry, outperforming 65.22% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for HEIA is in line with the industry average of 7.90%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.82% | ||
| ROE | 4.99% | ||
| ROIC | 7.2% |
ROA(3y)3.7%
ROA(5y)3.49%
ROE(3y)10.07%
ROE(5y)9.57%
ROIC(3y)7.43%
ROIC(5y)6.62%
1.3 Margins
With a Profit Margin value of 3.28%, HEIA is not doing good in the industry: 69.57% of the companies in the same industry are doing better.
In the last couple of years the Profit Margin of HEIA has declined.
HEIA has a worse Operating Margin (12.82%) than 60.87% of its industry peers.
In the last couple of years the Operating Margin of HEIA has declined.
HEIA's Gross Margin of 20.26% is on the low side compared to the rest of the industry. HEIA is outperformed by 91.30% of its industry peers.
In the last couple of years the Gross Margin of HEIA has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 12.82% | ||
| PM (TTM) | 3.28% | ||
| GM | 20.26% |
OM growth 3Y-1.92%
OM growth 5Y-3.32%
PM growth 3Y-40.01%
PM growth 5Y-18.4%
GM growth 3Y-0.45%
GM growth 5Y-1.01%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), HEIA is creating some value.
The number of shares outstanding for HEIA remains at a similar level compared to 1 year ago.
The number of shares outstanding for HEIA has been reduced compared to 5 years ago.
Compared to 1 year ago, HEIA has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 2.04 indicates that HEIA is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 2.04, HEIA perfoms like the industry average, outperforming 47.83% of the companies in the same industry.
HEIA has a debt to FCF ratio of 5.61. This is a neutral value as HEIA would need 5.61 years to pay back of all of its debts.
HEIA has a Debt to FCF ratio of 5.61. This is amongst the best in the industry. HEIA outperforms 86.96% of its industry peers.
HEIA has a Debt/Equity ratio of 0.76. This is a neutral value indicating HEIA is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.76, HEIA is doing good in the industry, outperforming 69.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.76 | ||
| Debt/FCF | 5.61 | ||
| Altman-Z | 2.04 |
ROIC/WACC1.18
WACC6.1%
2.3 Liquidity
A Current Ratio of 0.77 indicates that HEIA may have some problems paying its short term obligations.
HEIA has a worse Current ratio (0.77) than 78.26% of its industry peers.
HEIA has a Quick Ratio of 0.77. This is a bad value and indicates that HEIA is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.51, HEIA is not doing good in the industry: 69.57% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 4.60% over the past year.
Measured over the past 5 years, HEIA shows a small growth in Earnings Per Share. The EPS has been growing by 2.21% on average per year.
Looking at the last year, HEIA shows a decrease in Revenue. The Revenue has decreased by -1.78% in the last year.
Measured over the past years, HEIA shows a small growth in Revenue. The Revenue has been growing by 4.53% on average per year.
EPS 1Y (TTM)4.6%
EPS 3Y11.33%
EPS 5Y2.21%
EPS Q2Q%3.67%
Revenue 1Y (TTM)-1.78%
Revenue growth 3Y10.88%
Revenue growth 5Y4.53%
Sales Q2Q%-23.13%
3.2 Future
The Earnings Per Share is expected to grow by 8.29% 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 Y3.44%
EPS Next 2Y6.31%
EPS Next 3Y6.96%
EPS Next 5Y8.29%
Revenue Next Year-1.45%
Revenue Next 2Y1.05%
Revenue Next 3Y2.16%
Revenue Next 5Y3.52%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 15.79, the valuation of HEIA can be described as correct.
Based on the Price/Earnings ratio, HEIA is valued cheaply inside the industry as 82.61% of the companies are valued more expensively.
HEIA's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.45.
Based on the Price/Forward Earnings ratio of 15.28, the valuation of HEIA can be described as correct.
Compared to the rest of the industry, the Price/Forward Earnings ratio of HEIA indicates a somewhat cheap valuation: HEIA is cheaper than 60.87% of the companies listed in the same industry.
HEIA is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 21.90, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.79 | ||
| Fwd PE | 15.28 |
4.2 Price Multiples
HEIA's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. HEIA is cheaper than 73.91% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of HEIA indicates a somewhat cheap valuation: HEIA is cheaper than 73.91% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14.64 | ||
| EV/EBITDA | 9.01 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates HEIA does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)4.59
PEG (5Y)7.16
EPS Next 2Y6.31%
EPS Next 3Y6.96%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.54%, HEIA has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 3.04, HEIA has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.42, HEIA has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.54% |
5.2 History
The dividend of HEIA decreases each year by -0.14%.
Dividend Growth(5Y)-0.14%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
HEIA pays out 122.60% of its income as dividend. This is not a sustainable payout ratio.
DP122.6%
EPS Next 2Y6.31%
EPS Next 3Y6.96%
AMS:HEIA (7/4/2025, 12:09:37 PM)
77.22
+0.32 (+0.42%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)
Earnings (Next)
Inst Owners21.77%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap44.48B
Analysts79.33
Price Target92.03 (19.18%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.54% |
Yearly Dividend2.12
Dividend Growth(5Y)-0.14%
DP122.6%
Div Incr Years0
Div Non Decr Years0
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)0.11%
PT rev (3m)-2.43%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-3.51%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.96%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.79 | ||
| Fwd PE | 15.28 | ||
| P/S | 1.49 | ||
| P/FCF | 14.64 | ||
| P/OCF | 8.08 | ||
| P/B | 2.27 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.01 |
EPS(TTM)4.89
EY6.33%
EPS(NY)5.05
Fwd EY6.54%
FCF(TTM)5.27
FCFY6.83%
OCF(TTM)9.55
OCFY12.37%
SpS51.77
BVpS33.99
TBVpS-3.68
PEG (NY)4.59
PEG (5Y)7.16
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.82% | ||
| ROE | 4.99% | ||
| ROCE | 9.67% | ||
| ROIC | 7.2% | ||
| ROICexc | 7.64% | ||
| ROICexgc | 17.65% | ||
| OM | 12.82% | ||
| PM (TTM) | 3.28% | ||
| GM | 20.26% | ||
| FCFM | 10.19% |
ROA(3y)3.7%
ROA(5y)3.49%
ROE(3y)10.07%
ROE(5y)9.57%
ROIC(3y)7.43%
ROIC(5y)6.62%
ROICexc(3y)7.92%
ROICexc(5y)7.16%
ROICexgc(3y)18.24%
ROICexgc(5y)16.63%
ROCE(3y)10.06%
ROCE(5y)8.96%
ROICexcg growth 3Y2.8%
ROICexcg growth 5Y0.89%
ROICexc growth 3Y5.31%
ROICexc growth 5Y-1.19%
OM growth 3Y-1.92%
OM growth 5Y-3.32%
PM growth 3Y-40.01%
PM growth 5Y-18.4%
GM growth 3Y-0.45%
GM growth 5Y-1.01%
F-Score6
Asset Turnover0.55
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.76 | ||
| Debt/FCF | 5.61 | ||
| Debt/EBITDA | 2.31 | ||
| Cap/Depr | 94.63% | ||
| Cap/Sales | 8.27% | ||
| Interest Coverage | 5.72 | ||
| Cash Conversion | 85.62% | ||
| Profit Quality | 310.63% | ||
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.51 | ||
| Altman-Z | 2.04 |
F-Score6
WACC6.1%
ROIC/WACC1.18
Cap/Depr(3y)95.91%
Cap/Depr(5y)85.26%
Cap/Sales(3y)8.02%
Cap/Sales(5y)7.93%
Profit Quality(3y)159.79%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)4.6%
EPS 3Y11.33%
EPS 5Y2.21%
EPS Q2Q%3.67%
EPS Next Y3.44%
EPS Next 2Y6.31%
EPS Next 3Y6.96%
EPS Next 5Y8.29%
Revenue 1Y (TTM)-1.78%
Revenue growth 3Y10.88%
Revenue growth 5Y4.53%
Sales Q2Q%-23.13%
Revenue Next Year-1.45%
Revenue Next 2Y1.05%
Revenue Next 3Y2.16%
Revenue Next 5Y3.52%
EBIT growth 1Y-9.15%
EBIT growth 3Y8.75%
EBIT growth 5Y1.06%
EBIT Next Year58.51%
EBIT Next 3Y20.67%
EBIT Next 5Y14.9%
FCF growth 1Y73.3%
FCF growth 3Y5.54%
FCF growth 5Y6.32%
OCF growth 1Y24.22%
OCF growth 3Y9.59%
OCF growth 5Y4.88%