HEINEKEN HOLDING NV (HEIO.AS) Stock Fundamental Analysis
AMS:HEIO - Euronext Amsterdam - NL0000008977 - Common Stock - Currency: EUR
HEIO gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 23 industry peers in the Beverages industry. Both the profitability and financial health of HEIO have multiple concerns. HEIO has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year HEIO was profitable.
HEIO had a positive operating cash flow in the past year.
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
Looking at the Return On Assets, with a value of 0.93%, HEIO is doing worse than 78.26% of the companies in the same industry.
The Return On Equity of HEIO (5.22%) is worse than 69.57% of its industry peers.
HEIO has a Return On Invested Capital (6.51%) which is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for HEIO is in line with the industry average of 7.90%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.93% | ||
| ROE | 5.22% | ||
| ROIC | 6.51% |
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 1.67%, HEIO is not doing good in the industry: 78.26% 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 (11.54%) is worse than 65.22% of its industry peers.
In the last couple of years the Operating Margin of HEIO has declined.
Looking at the Gross Margin, with a value of 35.05%, HEIO is doing worse than 86.96% of the companies in the same industry.
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 | 11.54% | ||
| PM (TTM) | 1.67% | ||
| GM | 35.05% |
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
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), HEIO 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
HEIO has an Altman-Z score of 1.22. This is a bad value and indicates that HEIO is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.22, HEIO is doing worse than 82.61% of the companies in the same industry.
The Debt to FCF ratio of HEIO is 5.61, which is a neutral value as it means it would take HEIO, 5.61 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of HEIO (5.61) is better than 82.61% of its industry peers.
A Debt/Equity ratio of 1.56 is on the high side and indicates that HEIO has dependencies on debt financing.
With a Debt to Equity ratio value of 1.56, HEIO is not doing good in the industry: 69.57% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.56 | ||
| Debt/FCF | 5.61 | ||
| Altman-Z | 1.22 |
ROIC/WACC1.24
WACC5.24%
2.3 Liquidity
HEIO has a Current Ratio of 0.77. 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's Current ratio of 0.77 is on the low side compared to the rest of the industry. HEIO is outperformed by 73.91% of its industry peers.
HEIO has a Quick Ratio of 0.77. 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 65.22% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
The earnings per share for HEIO have decreased strongly by -57.42% in the last year.
Measured over the past years, HEIO shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -14.14% on average per year.
Looking at the last year, HEIO shows a decrease in Revenue. The Revenue has decreased by -1.89% in the last year.
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)-57.42%
EPS 3Y-32.69%
EPS 5Y-14.14%
EPS Q2Q%-6.63%
Revenue 1Y (TTM)-1.89%
Revenue growth 3Y10.66%
Revenue growth 5Y4.4%
Sales Q2Q%-5.53%
3.2 Future
HEIO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 20.61% yearly.
HEIO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.86% yearly.
EPS Next Y46.65%
EPS Next 2Y61.18%
EPS Next 3Y43.18%
EPS Next 5Y20.61%
Revenue Next Year1.62%
Revenue Next 2Y6.88%
Revenue Next 3Y6.46%
Revenue Next 5Y0.86%
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
With a Price/Earnings ratio of 36.96, HEIO can be considered very expensive at the moment.
HEIO's Price/Earnings ratio is a bit more expensive when compared to the industry. HEIO is more expensive than 78.26% of the companies in the same industry.
When comparing the Price/Earnings ratio of HEIO to the average of the S&P500 Index (27.45), we can say HEIO is valued slightly more expensively.
HEIO is valuated correctly with a Price/Forward Earnings ratio of 13.26.
69.57% of the companies in the same industry are more expensive than HEIO, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of HEIO to the average of the S&P500 Index (21.90), we can say HEIO is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.96 | ||
| Fwd PE | 13.26 |
4.2 Price Multiples
HEIO's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. HEIO is cheaper than 91.30% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, HEIO is valued cheaper than 91.30% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.17 | ||
| EV/EBITDA | 5.35 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap 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)0.79
PEG (5Y)N/A
EPS Next 2Y61.18%
EPS Next 3Y43.18%
5. Dividend
5.1 Amount
HEIO has a Yearly Dividend Yield of 2.87%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 3.04, HEIO pays a bit more dividend than its industry peers.
HEIO's Dividend Yield is comparable with the S&P500 average which is at 2.42.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.87% |
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
240.76% of the earnings are spent on dividend by HEIO. This is not a sustainable payout ratio.
DP240.76%
EPS Next 2Y61.18%
EPS Next 3Y43.18%
AMS:HEIO (7/4/2025, 7:00:00 PM)
65.05
+0.25 (+0.39%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)
Earnings (Next)
Inst Owners20.58%
Inst Owner ChangeN/A
Ins Owners2.35%
Ins Owner ChangeN/A
Market Cap18.74B
Analysts85.71
Price Target91.8 (41.12%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.87% |
Yearly Dividend4.24
Dividend Growth(5Y)-0.04%
DP240.76%
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)-4.26%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
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 | 36.96 | ||
| Fwd PE | 13.26 | ||
| P/S | 0.63 | ||
| P/FCF | 6.17 | ||
| P/OCF | 3.4 | ||
| P/B | 1.96 | ||
| P/tB | N/A | ||
| EV/EBITDA | 5.35 |
EPS(TTM)1.76
EY2.71%
EPS(NY)4.91
Fwd EY7.54%
FCF(TTM)10.55
FCFY16.21%
OCF(TTM)19.11
OCFY29.37%
SpS103.23
BVpS33.14
TBVpS-42.2
PEG (NY)0.79
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.93% | ||
| ROE | 5.22% | ||
| ROCE | 8.74% | ||
| ROIC | 6.51% | ||
| ROICexc | 6.91% | ||
| ROICexgc | 16.13% | ||
| OM | 11.54% | ||
| PM (TTM) | 1.67% | ||
| GM | 35.05% | ||
| FCFM | 10.22% |
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%
ROICexcg growth 3Y0.36%
ROICexcg 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-Score6
Asset Turnover0.56
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.56 | ||
| Debt/FCF | 5.61 | ||
| Debt/EBITDA | 2.46 | ||
| Cap/Depr | 94.63% | ||
| Cap/Sales | 8.29% | ||
| Interest Coverage | 5.13 | ||
| Cash Conversion | 91.18% | ||
| Profit Quality | 610.04% | ||
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.51 | ||
| Altman-Z | 1.22 |
F-Score6
WACC5.24%
ROIC/WACC1.24
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)-57.42%
EPS 3Y-32.69%
EPS 5Y-14.14%
EPS Q2Q%-6.63%
EPS Next Y46.65%
EPS Next 2Y61.18%
EPS Next 3Y43.18%
EPS Next 5Y20.61%
Revenue 1Y (TTM)-1.89%
Revenue growth 3Y10.66%
Revenue growth 5Y4.4%
Sales Q2Q%-5.53%
Revenue Next Year1.62%
Revenue Next 2Y6.88%
Revenue Next 3Y6.46%
Revenue Next 5Y0.86%
EBIT growth 1Y8.07%
EBIT growth 3Y5.53%
EBIT growth 5Y1.18%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y73.3%
FCF growth 3Y5.54%
FCF growth 5Y6.32%
OCF growth 1Y24.22%
OCF growth 3Y9.59%
OCF growth 5Y4.88%