HEINEKEN HOLDING NV (HEIO.AS) Stock Fundamental Analysis
Europe - AMS:HEIO - NL0000008977 - Common Stock
60.75 EUR
+0.45 (+0.75%)
Overall HEIO gets a fundamental rating of 4 out of 10. We evaluated HEIO against 27 industry peers in the Beverages industry. While HEIO is still in line with the averages on profitability rating, there are concerns on its financial health. HEIO has a correct valuation and a medium 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.
Of the past 5 years HEIO 4 years were profitable.
Each year in the past 5 years HEIO had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 1.80%, HEIO is doing worse than 66.67% of the companies in the same industry.
HEIO's Return On Equity of 10.82% is fine compared to the rest of the industry. HEIO outperforms 74.07% of its industry peers.
HEIO has a Return On Invested Capital of 6.70%. This is in the better half of the industry: HEIO outperforms 62.96% of its industry peers.
HEIO had an Average Return On Invested Capital over the past 3 years of 7.38%. This is in line with the industry average of 7.77%.
| 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
With a Profit Margin value of 3.18%, HEIO is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
In the last couple of years the Profit Margin of HEIO has declined.
The Operating Margin of HEIO (11.42%) is comparable to the rest of the industry.
HEIO's Operating Margin has declined in the last couple of years.
With a Gross Margin value of 35.12%, HEIO is not doing good in the industry: 85.19% of the companies in the same industry are doing better.
In the last couple of years the Gross Margin of HEIO has remained more or less at the same level.
| 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.
HEIO has about the same amout of shares outstanding than it did 1 year ago.
HEIO has less shares outstanding than it did 5 years ago.
The debt/assets ratio for HEIO has been reduced compared to a year ago.
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.
HEIO has a Altman-Z score of 1.22. This is amonst the worse of the industry: HEIO underperforms 85.19% 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 Debt to FCF ratio of 6.57. This is in the better half of the industry: HEIO outperforms 62.96% 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.
The Debt to Equity ratio of HEIO (1.75) is worse than 81.48% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.75 | ||
| Debt/FCF | 6.57 | ||
| Altman-Z | 1.22 |
ROIC/WACC1.29
WACC5.2%
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.
HEIO has a worse Current ratio (0.75) than 81.48% 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.
The Quick ratio of HEIO (0.51) is worse than 62.96% 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 72.64%, which is quite impressive.
The earnings per share for HEIO have been decreasing by -14.14% on average. This is quite bad
Looking at the last year, HEIO shows a decrease in Revenue. The Revenue has decreased by -4.96% in the last year.
HEIO shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.40% yearly.
EPS 1Y (TTM)72.64%
EPS 3Y-32.69%
EPS 5Y-14.14%
EPS Q2Q%892.99%
Revenue 1Y (TTM)-4.96%
Revenue growth 3Y10.66%
Revenue growth 5Y4.4%
Sales Q2Q%-4.34%
3.2 Future
The Earnings Per Share is expected to grow by 19.66% on average over the next years. This is quite good.
The Revenue is expected to grow by 1.48% on average over the next years.
EPS Next Y14.02%
EPS Next 2Y23.84%
EPS Next 3Y43.18%
EPS Next 5Y19.66%
Revenue Next Year1.62%
Revenue Next 2Y6.88%
Revenue Next 3Y6.46%
Revenue Next 5Y1.48%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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
Based on the Price/Earnings ratio of 18.52, the valuation of HEIO can be described as rather expensive.
HEIO's Price/Earnings is on the same level as the industry average.
The average S&P500 Price/Earnings ratio is at 25.83. HEIO is valued slightly cheaper when compared to this.
HEIO is valuated reasonably with a Price/Forward Earnings ratio of 11.84.
Compared to the rest of the industry, the Price/Forward Earnings ratio of HEIO indicates a somewhat cheap valuation: HEIO is cheaper than 77.78% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 32.68, HEIO is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.52 | ||
| Fwd PE | 11.84 |
4.2 Price Multiples
92.59% of the companies in the same industry are more expensive than HEIO, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of HEIO indicates a rather cheap valuation: HEIO is cheaper than 85.19% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.54 | ||
| EV/EBITDA | 5.27 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
HEIO's earnings are expected to grow with 43.18% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.32
PEG (5Y)N/A
EPS Next 2Y23.84%
EPS Next 3Y43.18%
5. Dividend
5.1 Amount
HEIO has a Yearly Dividend Yield of 3.25%.
HEIO's Dividend Yield is a higher than the industry average which is at 2.81.
Compared to an average S&P500 Dividend Yield of 2.39, HEIO pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.25% |
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
143.20% of the earnings are spent on dividend by HEIO. This is not a sustainable payout ratio.
DP143.2%
EPS Next 2Y23.84%
EPS Next 3Y43.18%
AMS:HEIO (11/7/2025, 7:00:00 PM)
60.75
+0.45 (+0.75%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)
Earnings (Next)
Inst Owners22.03%
Inst Owner ChangeN/A
Ins Owners2.35%
Ins Owner ChangeN/A
Market Cap17.50B
Revenue(TTM)29.09B
Net Income(TTM)926.00M
Analysts85
Price Target106.59 (75.46%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.25% |
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)8.48%
PT rev (3m)5.56%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-22.25%
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 | 18.52 | ||
| Fwd PE | 11.84 | ||
| P/S | 0.6 | ||
| P/FCF | 6.54 | ||
| P/OCF | 3.33 | ||
| P/B | 2.04 | ||
| P/tB | N/A | ||
| EV/EBITDA | 5.27 |
EPS(TTM)3.28
EY5.4%
EPS(NY)5.13
Fwd EY8.45%
FCF(TTM)9.29
FCFY15.29%
OCF(TTM)18.22
OCFY29.99%
SpS101
BVpS29.72
TBVpS-40.47
PEG (NY)1.32
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
WACC5.2%
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)72.64%
EPS 3Y-32.69%
EPS 5Y-14.14%
EPS Q2Q%892.99%
EPS Next Y14.02%
EPS Next 2Y23.84%
EPS Next 3Y43.18%
EPS Next 5Y19.66%
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 5Y1.48%
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 4 / 10 to HEIO.AS.
What is the valuation status for HEIO stock?
ChartMill assigns a valuation rating of 6 / 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 4 / 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 18.52 and the Price/Book (PB) ratio is 2.04.
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%.