HEINEKEN NV (HEIA.AS) Stock Fundamental Analysis
Europe - Euronext Amsterdam - AMS:HEIA - NL0000009165 - Common Stock
67.62 EUR
-0.5 (-0.73%)
HEIA gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 30 industry peers in the Beverages industry. While HEIA is still in line with the averages on profitability rating, there are concerns on its financial health. HEIA has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
- In the past year HEIA was profitable.
- In the past year HEIA had a positive cash flow from operations.
- 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
- HEIA's Return On Assets of 3.52% is in line compared to the rest of the industry. HEIA outperforms 53.33% of its industry peers.
- With a Return On Equity value of 10.26%, HEIA perfoms like the industry average, outperforming 56.67% of the companies in the same industry.
- HEIA's Return On Invested Capital of 7.88% is fine compared to the rest of the industry. HEIA outperforms 70.00% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for HEIA is in line with the industry average of 8.18%.
- The 3 year average ROIC (7.46%) for HEIA is below the current ROIC(7.88%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.52% | ||
| ROE | 10.26% | ||
| ROIC | 7.88% |
ROA(3y)3.7%
ROA(5y)3.49%
ROE(3y)10.07%
ROE(5y)9.57%
ROIC(3y)7.46%
ROIC(5y)6.64%
1.3 Margins
- With a Profit Margin value of 6.23%, HEIA is not doing good in the industry: 63.33% 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 Operating Margin of 13.57%. This is in the lower half of the industry: HEIA underperforms 60.00% of its industry peers.
- In the last couple of years the Operating Margin of HEIA has declined.
- HEIA's Gross Margin of 20.20% is on the low side compared to the rest of the industry. HEIA is outperformed by 93.33% of its industry peers.
- HEIA's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 13.57% | ||
| PM (TTM) | 6.23% | ||
| GM | 20.2% |
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
- HEIA has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
- Compared to 1 year ago, HEIA has about the same amount of shares outstanding.
- Compared to 5 years ago, HEIA has less shares outstanding
- HEIA has a better debt/assets ratio than last year.
2.2 Solvency
- An Altman-Z score of 2.00 indicates that HEIA is not a great score, but indicates only limited risk for bankruptcy at the moment.
- HEIA's Altman-Z score of 2.00 is in line compared to the rest of the industry. HEIA outperforms 50.00% of its industry peers.
- HEIA has a debt to FCF ratio of 6.57. This is a slightly negative value and a sign of low solvency as HEIA would need 6.57 years to pay back of all of its debts.
- HEIA has a Debt to FCF ratio of 6.57. This is in the better half of the industry: HEIA outperforms 63.33% of its industry peers.
- A Debt/Equity ratio of 0.86 indicates that HEIA is somewhat dependend on debt financing.
- HEIA has a Debt to Equity ratio (0.86) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | 6.57 | ||
| Altman-Z | 2 |
ROIC/WACC1.31
WACC6.03%
2.3 Liquidity
- A Current Ratio of 0.75 indicates that HEIA may have some problems paying its short term obligations.
- Looking at the Current ratio, with a value of 0.75, HEIA is doing worse than 80.00% of the companies in the same industry.
- A Quick Ratio of 0.51 indicates that HEIA may have some problems paying its short term obligations.
- HEIA's Quick ratio of 0.51 is on the low side compared to the rest of the industry. HEIA is outperformed by 66.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.75 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
- HEIA shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 0.61%.
- HEIA shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 2.21% yearly.
- HEIA shows a decrease in Revenue. In the last year, the revenue decreased by -4.84%.
- 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)0.61%
EPS 3Y11.33%
EPS 5Y2.21%
EPS Q2Q%-3.17%
Revenue 1Y (TTM)-4.84%
Revenue growth 3Y10.88%
Revenue growth 5Y4.53%
Sales Q2Q%-20.43%
3.2 Future
- Based on estimates for the next years, HEIA will show a small growth in Earnings Per Share. The EPS will grow by 6.19% on average per year.
- Based on estimates for the next years, HEIA will show a small growth in Revenue. The Revenue will grow by 3.03% on average per year.
EPS Next Y-3.15%
EPS Next 2Y2.74%
EPS Next 3Y4.74%
EPS Next 5Y6.19%
Revenue Next Year-3.53%
Revenue Next 2Y0.38%
Revenue Next 3Y1.69%
Revenue Next 5Y3.03%
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.
- 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
- A Price/Earnings ratio of 14.03 indicates a correct valuation of HEIA.
- HEIA's Price/Earnings ratio is a bit cheaper when compared to the industry. HEIA is cheaper than 66.67% of the companies in the same industry.
- Compared to an average S&P500 Price/Earnings ratio of 27.38, HEIA is valued a bit cheaper.
- The Price/Forward Earnings ratio is 13.11, which indicates a correct valuation of HEIA.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of HEIA indicates a somewhat cheap valuation: HEIA is cheaper than 63.33% of the companies listed in the same industry.
- HEIA's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.29.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.03 | ||
| Fwd PE | 13.11 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, HEIA is valued a bit cheaper than 73.33% of the companies in the same industry.
- 63.33% of the companies in the same industry are more expensive than HEIA, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14.56 | ||
| EV/EBITDA | 8.05 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)6.36
EPS Next 2Y2.74%
EPS Next 3Y4.74%
5. Dividend
5.1 Amount
- HEIA has a Yearly Dividend Yield of 2.81%. Purely for dividend investing, there may be better candidates out there.
- Compared to an average industry Dividend Yield of 2.61, HEIA has a dividend in line with its industry peers.
- HEIA's Dividend Yield is rather good when compared to the S&P500 average which is at 1.85.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.81% |
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
- 72.98% of the earnings are spent on dividend by HEIA. This is not a sustainable payout ratio.
DP72.98%
EPS Next 2Y2.74%
EPS Next 3Y4.74%
AMS:HEIA (1/19/2026, 10:11:05 AM)
67.62
-0.5 (-0.73%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)10-22 2025-10-22
Earnings (Next)02-11 2026-02-11/amc
Inst Owners24.68%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap38.95B
Revenue(TTM)29.18B
Net Income(TTM)1.82B
Analysts80.67
Price Target86.71 (28.23%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.81% |
Yearly Dividend2.12
Dividend Growth(5Y)-0.14%
DP72.98%
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)-1.22%
PT rev (3m)-3.28%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.22%
EPS NY rev (3m)-2.78%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.38%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.03 | ||
| Fwd PE | 13.11 | ||
| P/S | 1.33 | ||
| P/FCF | 14.56 | ||
| P/OCF | 7.42 | ||
| P/B | 2.2 | ||
| P/tB | N/A | ||
| EV/EBITDA | 8.05 |
EPS(TTM)4.82
EY7.13%
EPS(NY)5.16
Fwd EY7.63%
FCF(TTM)4.64
FCFY6.87%
OCF(TTM)9.11
OCFY13.47%
SpS50.65
BVpS30.75
TBVpS-4.35
PEG (NY)N/A
PEG (5Y)6.36
Graham Number57.75
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.52% | ||
| ROE | 10.26% | ||
| ROCE | 10.77% | ||
| ROIC | 7.88% | ||
| ROICexc | 8.33% | ||
| ROICexgc | 18.77% | ||
| OM | 13.57% | ||
| PM (TTM) | 6.23% | ||
| GM | 20.2% | ||
| FCFM | 9.17% |
ROA(3y)3.7%
ROA(5y)3.49%
ROE(3y)10.07%
ROE(5y)9.57%
ROIC(3y)7.46%
ROIC(5y)6.64%
ROICexc(3y)7.95%
ROICexc(5y)7.18%
ROICexgc(3y)18.32%
ROICexgc(5y)16.68%
ROCE(3y)10.11%
ROCE(5y)8.99%
ROICexgc growth 3Y2.8%
ROICexgc 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-Score7
Asset Turnover0.57
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | 6.57 | ||
| Debt/EBITDA | 2.3 | ||
| Cap/Depr | 97.61% | ||
| Cap/Sales | 8.82% | ||
| Interest Coverage | 6.33 | ||
| Cash Conversion | 79.58% | ||
| Profit Quality | 147.22% | ||
| Current Ratio | 0.75 | ||
| Quick Ratio | 0.51 | ||
| Altman-Z | 2 |
F-Score7
WACC6.03%
ROIC/WACC1.31
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)0.61%
EPS 3Y11.33%
EPS 5Y2.21%
EPS Q2Q%-3.17%
EPS Next Y-3.15%
EPS Next 2Y2.74%
EPS Next 3Y4.74%
EPS Next 5Y6.19%
Revenue 1Y (TTM)-4.84%
Revenue growth 3Y10.88%
Revenue growth 5Y4.53%
Sales Q2Q%-20.43%
Revenue Next Year-3.53%
Revenue Next 2Y0.38%
Revenue Next 3Y1.69%
Revenue Next 5Y3.03%
EBIT growth 1Y-3.93%
EBIT growth 3Y8.75%
EBIT growth 5Y1.06%
EBIT Next Year54.53%
EBIT Next 3Y20.18%
EBIT Next 5Y13.84%
FCF growth 1Y195.25%
FCF growth 3Y5.54%
FCF growth 5Y6.32%
OCF growth 1Y56.24%
OCF growth 3Y9.59%
OCF growth 5Y4.88%
HEINEKEN NV / HEIA.AS FAQ
What is the fundamental rating for HEIA stock?
ChartMill assigns a fundamental rating of 3 / 10 to HEIA.AS.
Can you provide the valuation status for HEINEKEN NV?
ChartMill assigns a valuation rating of 4 / 10 to HEINEKEN NV (HEIA.AS). This can be considered as Fairly Valued.
How profitable is HEINEKEN NV (HEIA.AS) stock?
HEINEKEN NV (HEIA.AS) has a profitability rating of 4 / 10.
What is the expected EPS growth for HEINEKEN NV (HEIA.AS) stock?
The Earnings per Share (EPS) of HEINEKEN NV (HEIA.AS) is expected to decline by -3.15% in the next year.
Can you provide the dividend sustainability for HEIA stock?
The dividend rating of HEINEKEN NV (HEIA.AS) is 3 / 10 and the dividend payout ratio is 72.98%.