HEINEKEN NV (HEIA.AS) Stock Fundamental Analysis
Europe - Euronext Amsterdam - AMS:HEIA - NL0000009165 - Common Stock
68.26 EUR
+1.38 (+2.06%)
Overall HEIA gets a fundamental rating of 3 out of 10. We evaluated HEIA 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 is valued correctly, 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.
- 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 53.33% of its industry peers.
- HEIA's Return On Equity of 10.26% is in line compared to the rest of the industry. HEIA outperforms 56.67% of its industry peers.
- With a decent Return On Invested Capital value of 7.88%, HEIA is doing good in the industry, outperforming 70.00% 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 8.24%.
- 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.
- HEIA's Profit Margin has declined in the last couple of years.
- HEIA has a Operating Margin of 13.57%. This is comparable to the rest of the industry: HEIA outperforms 46.67% of its industry peers.
- In the last couple of years the Operating Margin of HEIA has declined.
- HEIA has a Gross Margin of 20.20%. This is amonst the worse of the industry: HEIA underperforms 90.00% 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 | 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
- The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so HEIA is still 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
- HEIA has an Altman-Z score of 1.99. This is not the best score and indicates that HEIA is in the grey zone with still only limited risk for bankruptcy at the moment.
- HEIA has a Altman-Z score (1.99) which is comparable to the rest of the industry.
- 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.
- With a decent Debt to FCF ratio value of 6.57, HEIA is doing good in the industry, outperforming 70.00% of the companies in the same industry.
- HEIA has a Debt/Equity ratio of 0.86. This is a neutral value indicating HEIA is somewhat dependend on debt financing.
- Looking at the Debt to Equity ratio, with a value of 0.86, HEIA is in line with its industry, outperforming 56.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | 6.57 | ||
| Altman-Z | 1.99 |
ROIC/WACC1.31
WACC6.03%
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.
- The Current ratio of HEIA (0.75) is worse than 80.00% of its industry peers.
- A Quick Ratio of 0.51 indicates that HEIA may have some problems paying its short term obligations.
- HEIA has a Quick ratio of 0.51. This is in the lower half of the industry: HEIA underperforms 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%.
- 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.
- 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-2.93%
EPS Next 2Y3.19%
EPS Next 3Y5.05%
EPS Next 5Y6.19%
Revenue Next Year-3.53%
Revenue Next 2Y0.38%
Revenue Next 3Y1.69%
Revenue Next 5Y3.03%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better 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.
4. Valuation
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 14.16, which indicates a correct valuation of HEIA.
- Based on the Price/Earnings ratio, HEIA is valued a bit cheaper than the industry average as 70.00% of the companies are valued more expensively.
- HEIA is valuated rather cheaply when we compare the Price/Earnings ratio to 27.33, which is the current average of the S&P500 Index.
- With a Price/Forward Earnings ratio of 13.12, HEIA is valued correctly.
- Based on the Price/Forward Earnings ratio, HEIA is valued a bit cheaper than the industry average as 70.00% of the companies are valued more expensively.
- Compared to an average S&P500 Price/Forward Earnings ratio of 24.12, HEIA is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.16 | ||
| Fwd PE | 13.12 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, HEIA is valued a bit cheaper than 80.00% of the companies in the same industry.
- Based on the Price/Free Cash Flow ratio, HEIA is valued a bit cheaper than 66.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14.7 | ||
| EV/EBITDA | 7.94 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)6.42
EPS Next 2Y3.19%
EPS Next 3Y5.05%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 2.75%, HEIA has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 2.77, HEIA has a dividend in line with its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.91, HEIA pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.75% |
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 2Y3.19%
EPS Next 3Y5.05%
AMS:HEIA (1/14/2026, 7:00:00 PM)
68.26
+1.38 (+2.06%)
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 Cap39.32B
Revenue(TTM)29.18B
Net Income(TTM)1.82B
Analysts80.67
Price Target87.63 (28.38%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.75% |
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)-0.17%
PT rev (3m)-2.25%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.05%
EPS NY rev (3m)-2.56%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.04%
Revenue NY rev (3m)-0.38%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.16 | ||
| Fwd PE | 13.12 | ||
| P/S | 1.35 | ||
| P/FCF | 14.7 | ||
| P/OCF | 7.49 | ||
| P/B | 2.22 | ||
| P/tB | N/A | ||
| EV/EBITDA | 7.94 |
EPS(TTM)4.82
EY7.06%
EPS(NY)5.2
Fwd EY7.62%
FCF(TTM)4.64
FCFY6.8%
OCF(TTM)9.11
OCFY13.35%
SpS50.65
BVpS30.75
TBVpS-4.35
PEG (NY)N/A
PEG (5Y)6.42
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 | 1.99 |
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-2.93%
EPS Next 2Y3.19%
EPS Next 3Y5.05%
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 -2.93% 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%.