HEINEKEN NV (HEIA.AS) Stock Fundamental Analysis
Europe • Euronext Amsterdam • AMS:HEIA • NL0000009165
69.34 EUR
+0.54 (+0.78%)
Last: Jan 30, 2026, 07:00 PM
Overall HEIA gets a fundamental rating of 3 out of 10. We evaluated HEIA against 29 industry peers in the Beverages industry. There are concerns on the financial health of HEIA while its profitability can be described as average. HEIA is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
- In the past year HEIA was profitable.
- HEIA had a positive operating cash flow in the past year.
- HEIA had positive earnings in 4 of the past 5 years.
- Each year in the past 5 years HEIA had a positive operating cash flow.
1.2 Ratios
- HEIA has a Return On Assets of 3.52%. This is comparable to the rest of the industry: HEIA outperforms 51.72% of its industry peers.
- Looking at the Return On Equity, with a value of 10.26%, HEIA is in line with its industry, outperforming 55.17% of the companies in the same industry.
- HEIA has a better Return On Invested Capital (7.88%) than 68.97% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for HEIA is in line with the industry average of 7.93%.
- 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
- HEIA's Profit Margin of 6.23% is on the low side compared to the rest of the industry. HEIA is outperformed by 65.52% of its industry peers.
- In the last couple of years the Profit Margin of HEIA has declined.
- HEIA has a Operating Margin (13.57%) which is in line with its industry peers.
- In the last couple of years the Operating Margin of HEIA has declined.
- With a Gross Margin value of 20.20%, HEIA is not doing good in the industry: 93.10% of the companies in the same industry are doing better.
- 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.
- 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.
- HEIA has a better debt/assets ratio than last year.
2.2 Solvency
- An Altman-Z score of 2.01 indicates that HEIA is not a great score, but indicates only limited risk for bankruptcy at the moment.
- HEIA has a Altman-Z score (2.01) which is in line with 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 68.97% of its industry peers.
- HEIA has a Debt/Equity ratio of 0.86. This is a neutral value indicating HEIA is somewhat dependend on debt financing.
- HEIA's Debt to Equity ratio of 0.86 is in line compared to the rest of the industry. HEIA outperforms 51.72% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | 6.57 | ||
| Altman-Z | 2.01 |
ROIC/WACC1.31
WACC6.04%
2.3 Liquidity
- HEIA has a Current Ratio of 0.75. This is a bad value and indicates that HEIA is not financially healthy enough and could expect problems in meeting its short term obligations.
- Looking at the Current ratio, with a value of 0.75, HEIA is doing worse than 82.76% of the companies in the same industry.
- HEIA has a Quick Ratio of 0.75. This is a bad value and indicates that HEIA is not financially healthy enough and could expect problems in meeting its short term obligations.
- HEIA has a Quick ratio of 0.51. This is in the lower half of the industry: HEIA underperforms 68.97% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.75 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
- The Earnings Per Share has been growing slightly by 0.61% 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.
- The Revenue has decreased by -4.84% in the past year.
- HEIA shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.53% yearly.
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
- HEIA is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.19% yearly.
- The Revenue is expected to grow by 3.03% on average over the next years.
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
- With a Price/Earnings ratio of 14.39, HEIA is valued correctly.
- Compared to the rest of the industry, the Price/Earnings ratio of HEIA indicates a somewhat cheap valuation: HEIA is cheaper than 68.97% of the companies listed in the same industry.
- Compared to an average S&P500 Price/Earnings ratio of 28.30, HEIA is valued a bit cheaper.
- HEIA is valuated correctly with a Price/Forward Earnings ratio of 13.45.
- Based on the Price/Forward Earnings ratio, HEIA is valued a bit cheaper than the industry average as 65.52% of the companies are valued more expensively.
- The average S&P500 Price/Forward Earnings ratio is at 25.57. HEIA is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.39 | ||
| Fwd PE | 13.45 |
4.2 Price Multiples
- HEIA's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. HEIA is cheaper than 75.86% of the companies in the same industry.
- HEIA's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. HEIA is cheaper than 65.52% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14.93 | ||
| EV/EBITDA | 8.11 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)6.52
EPS Next 2Y2.74%
EPS Next 3Y4.74%
5. Dividend
5.1 Amount
- HEIA has a Yearly Dividend Yield of 2.81%.
- Compared to an average industry Dividend Yield of 2.70, HEIA has a dividend in line with its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.82, HEIA pays a better dividend.
| 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
- HEIA pays out 72.98% of its income as dividend. This is not a sustainable payout ratio.
DP72.98%
EPS Next 2Y2.74%
EPS Next 3Y4.74%
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%.