HEINEKEN HOLDING NV (HEIO.AS) Stock Fundamental Analysis
Europe - Euronext Amsterdam - AMS:HEIO - NL0000008977 - Common Stock
61.9 EUR
+0.65 (+1.06%)
We assign a fundamental rating of 3 out of 10 to HEIO. HEIO was compared to 29 industry peers in the Beverages industry. Both the profitability and financial health of HEIO have multiple concerns. HEIO is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
HEIO had positive earnings in the past year.
In the past year HEIO had a positive cash flow from operations.
HEIO had positive earnings in 4 of the past 5 years.
In the past 5 years HEIO always reported a positive cash flow from operatings.
1.2 Ratios
HEIO has a worse Return On Assets (1.80%) than 79.31% of its industry peers.
With a decent Return On Equity value of 10.82%, HEIO is doing good in the industry, outperforming 68.97% of the companies in the same industry.
HEIO has a Return On Invested Capital (6.70%) which is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for HEIO is in line with the industry average of 7.95%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.8% | ||
| ROE | 10.82% | ||
| ROIC | 6.7% |
ROA(3y)1.88%
ROA(5y)1.76%
ROE(3y)10.38%
ROE(5y)9.79%
ROIC(3y)7.38%
ROIC(5y)6.52%
1.3 Margins
The Profit Margin of HEIO (3.18%) is worse than 75.86% of its industry peers.
In the last couple of years the Profit Margin of HEIO has declined.
HEIO has a worse Operating Margin (11.42%) than 65.52% of its industry peers.
In the last couple of years the Operating Margin of HEIO has declined.
HEIO has a Gross Margin of 35.12%. This is amonst the worse of the industry: HEIO underperforms 86.21% of its industry peers.
HEIO's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 11.42% | ||
| PM (TTM) | 3.18% | ||
| GM | 35.12% |
OM growth 3Y-4.64%
OM growth 5Y-3.09%
PM growth 3Y-39.54%
PM growth 5Y-18.06%
GM growth 3Y-0.99%
GM growth 5Y-1.07%
2. Health
2.1 Basic Checks
HEIO 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, HEIO has about the same amount of shares outstanding.
The number of shares outstanding for HEIO has been reduced compared to 5 years ago.
Compared to 1 year ago, HEIO has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.22, we must say that HEIO is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of HEIO (1.22) is worse than 89.66% of its industry peers.
HEIO has a debt to FCF ratio of 6.57. This is a slightly negative value and a sign of low solvency as HEIO would need 6.57 years to pay back of all of its debts.
HEIO has a better Debt to FCF ratio (6.57) than 65.52% of its industry peers.
HEIO has a Debt/Equity ratio of 1.75. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.75, HEIO is doing worse than 79.31% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.75 | ||
| Debt/FCF | 6.57 | ||
| Altman-Z | 1.22 |
ROIC/WACC1.29
WACC5.18%
2.3 Liquidity
HEIO has a Current Ratio of 0.75. This is a bad value and indicates that HEIO is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of HEIO (0.75) is worse than 79.31% of its industry peers.
HEIO has a Quick Ratio of 0.75. This is a bad value and indicates that HEIO is not financially healthy enough and could expect problems in meeting its short term obligations.
HEIO has a Quick ratio of 0.51. This is in the lower half of the industry: HEIO underperforms 65.52% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.75 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
HEIO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 72.89%, which is quite impressive.
The earnings per share for HEIO have been decreasing by -14.15% on average. This is quite bad
HEIO shows a decrease in Revenue. In the last year, the revenue decreased by -4.96%.
Measured over the past years, HEIO shows a small growth in Revenue. The Revenue has been growing by 4.40% on average per year.
EPS 1Y (TTM)72.89%
EPS 3Y-32.7%
EPS 5Y-14.15%
EPS Q2Q%894.12%
Revenue 1Y (TTM)-4.96%
Revenue growth 3Y10.66%
Revenue growth 5Y4.4%
Sales Q2Q%-4.34%
3.2 Future
Based on estimates for the next years, HEIO will show a quite strong growth in Earnings Per Share. The EPS will grow by 19.92% on average per year.
Based on estimates for the next years, HEIO will show a small growth in Revenue. The Revenue will grow by 1.70% on average per year.
EPS Next Y6.4%
EPS Next 2Y24.08%
EPS Next 3Y43.18%
EPS Next 5Y19.92%
Revenue Next Year1.62%
Revenue Next 2Y6.88%
Revenue Next 3Y6.46%
Revenue Next 5Y1.7%
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
With a Price/Earnings ratio of 18.87, HEIO is valued on the expensive side.
HEIO's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of HEIO to the average of the S&P500 Index (26.56), we can say HEIO is valued slightly cheaper.
HEIO is valuated correctly with a Price/Forward Earnings ratio of 12.02.
Compared to the rest of the industry, the Price/Forward Earnings ratio of HEIO indicates a somewhat cheap valuation: HEIO is cheaper than 72.41% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of HEIO to the average of the S&P500 Index (23.79), we can say HEIO is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.87 | ||
| Fwd PE | 12.02 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HEIO is valued cheaply inside the industry as 93.10% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, HEIO is valued cheaply inside the industry as 82.76% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.67 | ||
| EV/EBITDA | 5.35 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates HEIO does not grow enough to justify the current Price/Earnings ratio.
HEIO's earnings are expected to grow with 43.18% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.95
PEG (5Y)N/A
EPS Next 2Y24.08%
EPS Next 3Y43.18%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.12%, HEIO has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 2.83, HEIO pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 1.87, HEIO pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.12% |
5.2 History
The dividend of HEIO decreases each year by -0.04%.
Dividend Growth(5Y)-0.04%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
HEIO pays out 143.20% of its income as dividend. This is not a sustainable payout ratio.
DP143.2%
EPS Next 2Y24.08%
EPS Next 3Y43.18%
AMS:HEIO (12/12/2025, 7:00:00 PM)
61.9
+0.65 (+1.06%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)
Earnings (Next)
Inst Owners22.34%
Inst Owner ChangeN/A
Ins Owners2.35%
Ins Owner ChangeN/A
Market Cap17.83B
Revenue(TTM)29.09B
Net Income(TTM)926.00M
Analysts85
Price Target106.59 (72.2%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.12% |
Yearly Dividend4.24
Dividend Growth(5Y)-0.04%
DP143.2%
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%
PT rev (3m)8.48%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-6.68%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.87 | ||
| Fwd PE | 12.02 | ||
| P/S | 0.61 | ||
| P/FCF | 6.67 | ||
| P/OCF | 3.4 | ||
| P/B | 2.08 | ||
| P/tB | N/A | ||
| EV/EBITDA | 5.35 |
EPS(TTM)3.28
EY5.3%
EPS(NY)5.15
Fwd EY8.32%
FCF(TTM)9.29
FCFY15%
OCF(TTM)18.22
OCFY29.44%
SpS101
BVpS29.72
TBVpS-40.47
PEG (NY)2.95
PEG (5Y)N/A
Graham Number46.83
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.8% | ||
| ROE | 10.82% | ||
| ROCE | 9.11% | ||
| ROIC | 6.7% | ||
| ROICexc | 7.09% | ||
| ROICexgc | 16.24% | ||
| OM | 11.42% | ||
| PM (TTM) | 3.18% | ||
| GM | 35.12% | ||
| FCFM | 9.2% |
ROA(3y)1.88%
ROA(5y)1.76%
ROE(3y)10.38%
ROE(5y)9.79%
ROIC(3y)7.38%
ROIC(5y)6.52%
ROICexc(3y)7.86%
ROICexc(5y)7.05%
ROICexgc(3y)18.25%
ROICexgc(5y)16.48%
ROCE(3y)9.99%
ROCE(5y)8.83%
ROICexgc growth 3Y0.36%
ROICexgc growth 5Y1.38%
ROICexc growth 3Y2.47%
ROICexc growth 5Y-0.92%
OM growth 3Y-4.64%
OM growth 5Y-3.09%
PM growth 3Y-39.54%
PM growth 5Y-18.06%
GM growth 3Y-0.99%
GM growth 5Y-1.07%
F-Score7
Asset Turnover0.57
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.75 | ||
| Debt/FCF | 6.57 | ||
| Debt/EBITDA | 2.52 | ||
| Cap/Depr | 97.61% | ||
| Cap/Sales | 8.84% | ||
| Interest Coverage | 5.31 | ||
| Cash Conversion | 88.1% | ||
| Profit Quality | 288.88% | ||
| Current Ratio | 0.75 | ||
| Quick Ratio | 0.51 | ||
| Altman-Z | 1.22 |
F-Score7
WACC5.18%
ROIC/WACC1.29
Cap/Depr(3y)95.91%
Cap/Depr(5y)85.26%
Cap/Sales(3y)8.04%
Cap/Sales(5y)7.94%
Profit Quality(3y)314.8%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)72.89%
EPS 3Y-32.7%
EPS 5Y-14.15%
EPS Q2Q%894.12%
EPS Next Y6.4%
EPS Next 2Y24.08%
EPS Next 3Y43.18%
EPS Next 5Y19.92%
Revenue 1Y (TTM)-4.96%
Revenue growth 3Y10.66%
Revenue growth 5Y4.4%
Sales Q2Q%-4.34%
Revenue Next Year1.62%
Revenue Next 2Y6.88%
Revenue Next 3Y6.46%
Revenue Next 5Y1.7%
EBIT growth 1Y6.96%
EBIT growth 3Y5.53%
EBIT growth 5Y1.18%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
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 HOLDING NV / HEIO.AS FAQ
What is the fundamental rating for HEIO stock?
ChartMill assigns a fundamental rating of 3 / 10 to HEIO.AS.
What is the valuation status for HEIO stock?
ChartMill assigns a valuation rating of 5 / 10 to HEINEKEN HOLDING NV (HEIO.AS). This can be considered as Fairly Valued.
Can you provide the profitability details for HEINEKEN HOLDING NV?
HEINEKEN HOLDING NV (HEIO.AS) has a profitability rating of 3 / 10.
What are the PE and PB ratios of HEINEKEN HOLDING NV (HEIO.AS) stock?
The Price/Earnings (PE) ratio for HEINEKEN HOLDING NV (HEIO.AS) is 18.87 and the Price/Book (PB) ratio is 2.08.
Is the dividend of HEINEKEN HOLDING NV sustainable?
The dividend rating of HEINEKEN HOLDING NV (HEIO.AS) is 3 / 10 and the dividend payout ratio is 143.2%.