HEINEKEN HOLDING NV (HEIO.AS) Stock Fundamental Analysis
Europe - Euronext Amsterdam - AMS:HEIO - NL0000008977 - Common Stock
61.1 EUR
+0.45 (+0.74%)
HEIO gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 27 industry peers in the Beverages industry. Both the profitability and financial health of HEIO have multiple concerns. HEIO has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year HEIO was profitable.
HEIO had a positive operating cash flow in the past year.
Of the past 5 years HEIO 4 years were profitable.
HEIO had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
HEIO has a Return On Assets of 1.80%. This is in the lower half of the industry: HEIO underperforms 74.07% of its industry peers.
HEIO's Return On Equity of 10.82% is fine compared to the rest of the industry. HEIO outperforms 70.37% of its industry peers.
With a Return On Invested Capital value of 6.70%, HEIO perfoms like the industry average, outperforming 55.56% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for HEIO is in line with the industry average of 7.71%.
| 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
Looking at the Profit Margin, with a value of 3.18%, HEIO is doing worse than 74.07% of the companies in the same industry.
HEIO's Profit Margin has declined in the last couple of years.
HEIO has a worse Operating Margin (11.42%) than 62.96% of its industry peers.
In the last couple of years the Operating Margin of HEIO has declined.
With a Gross Margin value of 35.12%, HEIO is not doing good in the industry: 81.48% of the companies in the same industry are doing better.
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
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so HEIO is still creating some value.
The number of shares outstanding for HEIO remains at a similar level compared to 1 year ago.
HEIO has less shares outstanding than it did 5 years ago.
HEIO has a better debt/assets ratio than last year.
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 81.48% 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.
With a decent Debt to FCF ratio value of 6.57, HEIO is doing good in the industry, outperforming 66.67% of the companies in the same industry.
A Debt/Equity ratio of 1.75 is on the high side and indicates that HEIO has dependencies on debt financing.
HEIO has a Debt to Equity ratio of 1.75. This is in the lower half of the industry: HEIO underperforms 74.07% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.75 | ||
| Debt/FCF | 6.57 | ||
| Altman-Z | 1.22 |
ROIC/WACC1.3
WACC5.16%
2.3 Liquidity
A Current Ratio of 0.75 indicates that HEIO may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.75, HEIO is doing worse than 74.07% of the companies in the same industry.
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.
With a Quick ratio value of 0.51, HEIO perfoms like the industry average, outperforming 40.74% of the companies in the same industry.
| 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.
Measured over the past years, HEIO shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -14.15% on average per year.
Looking at the last year, HEIO shows a decrease in Revenue. The Revenue has decreased by -4.96% 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)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
The Earnings Per Share is expected to grow by 19.92% on average over the next years. This is quite good.
The Revenue is expected to grow by 1.70% on average over the next years.
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
The Price/Earnings ratio is 18.63, which indicates a rather expensive current valuation of HEIO.
HEIO's Price/Earnings is on the same level as the industry average.
HEIO is valuated rather cheaply when we compare the Price/Earnings ratio to 26.15, which is the current average of the S&P500 Index.
HEIO is valuated reasonably with a Price/Forward Earnings ratio of 11.86.
HEIO's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. HEIO is cheaper than 77.78% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 36.12. HEIO is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.63 | ||
| Fwd PE | 11.86 |
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.
HEIO's Price/Free Cash Flow ratio is rather cheap when compared to the industry. HEIO is cheaper than 81.48% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.58 | ||
| EV/EBITDA | 5.29 |
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)2.91
PEG (5Y)N/A
EPS Next 2Y24.08%
EPS Next 3Y43.18%
5. Dividend
5.1 Amount
HEIO has a Yearly Dividend Yield of 3.16%.
HEIO's Dividend Yield is a higher than the industry average which is at 3.07.
HEIO's Dividend Yield is a higher than the S&P500 average which is at 2.41.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.16% |
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 2Y24.08%
EPS Next 3Y43.18%
AMS:HEIO (11/27/2025, 7:00:00 PM)
61.1
+0.45 (+0.74%)
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 Cap17.60B
Revenue(TTM)29.09B
Net Income(TTM)926.00M
Analysts85
Price Target106.59 (74.45%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.16% |
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)2.45%
PT rev (3m)8.48%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-6.68%
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 | 18.63 | ||
| Fwd PE | 11.86 | ||
| P/S | 0.6 | ||
| P/FCF | 6.58 | ||
| P/OCF | 3.35 | ||
| P/B | 2.06 | ||
| P/tB | N/A | ||
| EV/EBITDA | 5.29 |
EPS(TTM)3.28
EY5.37%
EPS(NY)5.15
Fwd EY8.43%
FCF(TTM)9.29
FCFY15.2%
OCF(TTM)18.22
OCFY29.82%
SpS101
BVpS29.72
TBVpS-40.47
PEG (NY)2.91
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
WACC5.16%
ROIC/WACC1.3
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 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 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 18.63 and the Price/Book (PB) ratio is 2.06.
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%.