HEINEKEN NV (HEIA.AS)
NL0000009165 - Common Stock
We assign a fundamental rating of 4 out of 10 to HEIA. HEIA was compared to 26 industry peers in the Beverages industry. While HEIA seems to be doing ok healthwise, there are quite some concerns on its profitability. HEIA has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
HEIA had positive earnings in the past year.
In the past year HEIA had a positive cash flow from operations.
HEIA had positive earnings in 4 of the past 5 years.
In the past 5 years HEIA always reported a positive cash flow from operatings.
1.2 Ratios
HEIA's Return On Assets of 1.93% is on the low side compared to the rest of the industry. HEIA is outperformed by 72.00% of its industry peers.
The Return On Equity of HEIA (5.43%) is worse than 72.00% of its industry peers.
HEIA has a better Return On Invested Capital (8.49%) than 68.00% 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 8.05%.
The 3 year average ROIC (7.71%) for HEIA is below the current ROIC(8.49%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.93% | ||
| ROE | 5.43% | ||
| ROIC | 8.49% |
ROA(3y)5.37%
ROA(5y)4.06%
ROE(3y)14.79%
ROE(5y)11.25%
ROIC(3y)7.71%
ROIC(5y)7.39%
1.3 Margins
HEIA's Profit Margin of 3.43% is on the low side compared to the rest of the industry. HEIA is outperformed by 72.00% of its industry peers.
In the last couple of years the Profit Margin of HEIA has declined.
The Operating Margin of HEIA (13.44%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of HEIA has declined.
HEIA has a Gross Margin of 19.91%. This is amonst the worse of the industry: HEIA underperforms 96.00% of its industry peers.
In the last couple of years the Gross Margin of HEIA has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 13.44% | ||
| PM (TTM) | 3.43% | ||
| GM | 19.91% |
OM growth 3Y7.69%
OM growth 5Y-2.65%
PM growth 3YN/A
PM growth 5Y-2.26%
GM growth 3Y-1.54%
GM growth 5Y-1.83%
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 has been reduced compared to 1 year ago.
Compared to 5 years ago, HEIA has less shares outstanding
Compared to 1 year ago, HEIA has a worse debt to assets ratio.
2.2 Solvency
An Altman-Z score of 1.93 indicates that HEIA is not a great score, but indicates only limited risk for bankruptcy at the moment.
HEIA has a Altman-Z score of 1.93. This is comparable to the rest of the industry: HEIA outperforms 48.00% of its industry peers.
HEIA has a debt to FCF ratio of 6.54. This is a slightly negative value and a sign of low solvency as HEIA would need 6.54 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 6.54, HEIA belongs to the best of the industry, outperforming 92.00% of the companies in the same industry.
HEIA has a Debt/Equity ratio of 0.79. This is a neutral value indicating HEIA is somewhat dependend on debt financing.
The Debt to Equity ratio of HEIA (0.79) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | 6.54 | ||
| Altman-Z | 1.93 |
ROIC/WACC1.43
WACC5.93%
2.3 Liquidity
HEIA has a Current Ratio of 0.78. 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 0.78, HEIA is doing worse than 84.00% of the companies in the same industry.
HEIA has a Quick Ratio of 0.78. 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 0.52, HEIA is not doing good in the industry: 64.00% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.78 | ||
| Quick Ratio | 0.52 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 2.97% over the past year.
HEIA shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 1.90% yearly.
Looking at the last year, HEIA shows a small growth in Revenue. The Revenue has grown by 3.04% in the last year.
HEIA shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.19% yearly.
EPS 1Y (TTM)2.97%
EPS 3Y32.67%
EPS 5Y1.9%
EPS Q2Q%5.81%
Revenue 1Y (TTM)3.04%
Revenue growth 3Y15.48%
Revenue growth 5Y6.19%
Sales Q2Q%22.8%
3.2 Future
Based on estimates for the next years, HEIA will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.21% on average per year.
HEIA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.17% yearly.
EPS Next Y1.99%
EPS Next 2Y5.52%
EPS Next 3Y6.95%
EPS Next 5Y9.21%
Revenue Next Year-0.75%
Revenue Next 2Y0.68%
Revenue Next 3Y1.92%
Revenue Next 5Y3.17%
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
Based on the Price/Earnings ratio of 14.29, the valuation of HEIA can be described as correct.
HEIA's Price/Earnings ratio is rather cheap when compared to the industry. HEIA is cheaper than 84.00% of the companies in the same industry.
When comparing the Price/Earnings ratio of HEIA to the average of the S&P500 Index (27.54), we can say HEIA is valued slightly cheaper.
HEIA is valuated correctly with a Price/Forward Earnings ratio of 13.16.
72.00% of the companies in the same industry are more expensive than HEIA, based on the Price/Forward Earnings ratio.
HEIA's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.99.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.29 | ||
| Fwd PE | 13.16 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HEIA is valued cheaper than 84.00% 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 72.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.93 | ||
| EV/EBITDA | 7.38 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)7.18
PEG (5Y)7.51
EPS Next 2Y5.52%
EPS Next 3Y6.95%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.50%, HEIA has a reasonable but not impressive dividend return.
HEIA's Dividend Yield is comparable with the industry average which is at 2.62.
HEIA's Dividend Yield is comparable with the S&P500 average which is at 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.5% |
5.2 History
The dividend of HEIA has a limited annual growth rate of 4.13%.
Dividend Growth(5Y)4.13%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
HEIA pays out 107.60% of its income as dividend. This is not a sustainable payout ratio.
The dividend of HEIA is growing, but earnings are growing more, so the dividend growth is sustainable.
DP107.6%
EPS Next 2Y5.52%
EPS Next 3Y6.95%
HEINEKEN NV
AMS:HEIA (12/24/2024, 7:00:00 PM)
68.46
+0.22 (+0.32%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)
Earnings (Next)
Inst Owners22.56%
Inst Owner ChangeN/A
Ins Owners0.06%
Ins Owner ChangeN/A
Market Cap39.43B
Analysts77.24
Price Target95.3 (39.21%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.5% |
Dividend Growth(5Y)4.13%
DP107.6%
Div Incr Years2
Div Non Decr Years2
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)-0.8%
PT rev (3m)-3.66%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-3.88%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.7%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.29 | ||
| Fwd PE | 13.16 | ||
| P/S | 1.29 | ||
| P/FCF | 13.93 | ||
| P/OCF | 7.38 | ||
| P/B | 2.03 | ||
| P/tB | N/A | ||
| EV/EBITDA | 7.38 |
EPS(TTM)4.79
EY7%
EPS(NY)5.2
Fwd EY7.6%
FCF(TTM)4.91
FCFY7.18%
OCF(TTM)9.27
OCFY13.54%
SpS53.23
BVpS33.69
TBVpS-4.1
PEG (NY)7.18
PEG (5Y)7.51
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.93% | ||
| ROE | 5.43% | ||
| ROCE | 10.49% | ||
| ROIC | 8.49% | ||
| ROICexc | 8.99% | ||
| ROICexgc | 20.69% | ||
| OM | 13.44% | ||
| PM (TTM) | 3.43% | ||
| GM | 19.91% | ||
| FCFM | 9.23% |
ROA(3y)5.37%
ROA(5y)4.06%
ROE(3y)14.79%
ROE(5y)11.25%
ROIC(3y)7.71%
ROIC(5y)7.39%
ROICexc(3y)8.28%
ROICexc(5y)7.97%
ROICexgc(3y)19.51%
ROICexgc(5y)18.09%
ROCE(3y)9.52%
ROCE(5y)9.15%
ROICexcg growth 3Y12.65%
ROICexcg growth 5Y-3.18%
ROICexc growth 3Y12.11%
ROICexc growth 5Y-2.01%
OM growth 3Y7.69%
OM growth 5Y-2.65%
PM growth 3YN/A
PM growth 5Y-2.26%
GM growth 3Y-1.54%
GM growth 5Y-1.83%
F-Score8
Asset Turnover0.56
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | 6.54 | ||
| Debt/EBITDA | 2.09 | ||
| Cap/Depr | 78.01% | ||
| Cap/Sales | 8.19% | ||
| Interest Coverage | 6.11 | ||
| Cash Conversion | 72.77% | ||
| Profit Quality | 268.76% | ||
| Current Ratio | 0.78 | ||
| Quick Ratio | 0.52 | ||
| Altman-Z | 1.93 |
F-Score8
WACC5.93%
ROIC/WACC1.43
Cap/Depr(3y)91.54%
Cap/Depr(5y)87.79%
Cap/Sales(3y)7.7%
Cap/Sales(5y)8.04%
Profit Quality(3y)82.16%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)2.97%
EPS 3Y32.67%
EPS 5Y1.9%
EPS Q2Q%5.81%
EPS Next Y1.99%
EPS Next 2Y5.52%
EPS Next 3Y6.95%
EPS Next 5Y9.21%
Revenue 1Y (TTM)3.04%
Revenue growth 3Y15.48%
Revenue growth 5Y6.19%
Sales Q2Q%22.8%
Revenue Next Year-0.75%
Revenue Next 2Y0.68%
Revenue Next 3Y1.92%
Revenue Next 5Y3.17%
EBIT growth 1Y4.43%
EBIT growth 3Y24.36%
EBIT growth 5Y3.37%
EBIT Next Year43.52%
EBIT Next 3Y17.12%
EBIT Next 5Y13.76%
FCF growth 1Y-7.36%
FCF growth 3Y5.43%
FCF growth 5Y-5.56%
OCF growth 1Y11.99%
OCF growth 3Y12.2%
OCF growth 5Y0.19%