HEINEKEN HOLDING NV (HEIO.AS) Stock Fundamental Analysis
Europe - AMS:HEIO - NL0000008977 - Common Stock
61.15 EUR
+0.5 (+0.82%)
Overall HEIO gets a fundamental rating of 3 out of 10. We evaluated HEIO against 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
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's Return On Assets of 1.80% is on the low side compared to the rest of the industry. HEIO is outperformed by 75.86% of its industry peers.
HEIO has a better Return On Equity (10.82%) than 68.97% of its industry peers.
HEIO has a better Return On Invested Capital (6.70%) than 62.07% of its industry peers.
The Average Return On Invested Capital over the past 3 years for HEIO is in line with the industry average of 8.16%.
| 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
HEIO has a worse Profit Margin (3.18%) than 75.86% of its industry peers.
In the last couple of years the Profit Margin of HEIO has declined.
The Operating Margin of HEIO (11.42%) is worse than 65.52% of its industry peers.
In the last couple of years the Operating Margin of HEIO has declined.
HEIO has a worse Gross Margin (35.12%) than 89.66% 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
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
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 89.66% of the companies in the same industry.
The Debt to FCF ratio of HEIO is 6.57, which is on the high side as it means it would take HEIO, 6.57 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 6.57, HEIO is in the better half of the industry, outperforming 62.07% of the companies in the same industry.
HEIO has a Debt/Equity ratio of 1.75. This is a high value indicating a heavy dependency on external financing.
HEIO's Debt to Equity ratio of 1.75 is on the low side compared to the rest of the industry. HEIO is outperformed by 86.21% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.75 | ||
| Debt/FCF | 6.57 | ||
| Altman-Z | 1.22 |
ROIC/WACC1.29
WACC5.21%
2.3 Liquidity
A Current Ratio of 0.75 indicates that HEIO may have some problems paying its short term obligations.
With a Current ratio value of 0.75, HEIO is not doing good in the industry: 75.86% of the companies in the same industry are doing better.
A Quick Ratio of 0.51 indicates that HEIO may have some problems paying its short term obligations.
HEIO has a Quick ratio of 0.51. This is in the lower half of the industry: HEIO underperforms 62.07% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.75 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 72.64% over the past year.
HEIO shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -14.14% yearly.
The Revenue has decreased by -4.96% in the past 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
HEIO is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 19.66% yearly.
Based on estimates for the next years, HEIO will show a small growth in Revenue. The Revenue will grow by 1.48% on average per year.
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
A Price/Earnings ratio of 18.64 indicates a rather expensive valuation of HEIO.
Compared to the rest of the industry, the Price/Earnings ratio of HEIO is on the same level as its industry peers.
HEIO's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.40.
Based on the Price/Forward Earnings ratio of 11.92, the valuation of HEIO can be described as reasonable.
Based on the Price/Forward Earnings ratio, HEIO is valued a bit cheaper than 79.31% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.94, HEIO is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.64 | ||
| Fwd PE | 11.92 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HEIO is valued cheaper than 93.10% of the companies in the same industry.
86.21% of the companies in the same industry are more expensive than HEIO, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.58 | ||
| EV/EBITDA | 5.29 |
4.3 Compensation for Growth
HEIO's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
A more expensive valuation may be justified as HEIO's earnings are expected to grow with 43.18% in the coming years.
PEG (NY)1.33
PEG (5Y)N/A
EPS Next 2Y23.84%
EPS Next 3Y43.18%
5. Dividend
5.1 Amount
HEIO has a Yearly Dividend Yield of 3.15%.
HEIO's Dividend Yield is a higher than the industry average which is at 2.83.
Compared to an average S&P500 Dividend Yield of 2.38, HEIO pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.15% |
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 2Y23.84%
EPS Next 3Y43.18%
AMS:HEIO (10/17/2025, 7:00:00 PM)
61.15
+0.5 (+0.82%)
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 Cap17.61B
Analysts85
Price Target104.04 (70.14%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.15% |
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)5.88%
PT rev (3m)13.33%
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 | 18.64 | ||
| Fwd PE | 11.92 | ||
| P/S | 0.61 | ||
| P/FCF | 6.58 | ||
| P/OCF | 3.36 | ||
| P/B | 2.06 | ||
| P/tB | N/A | ||
| EV/EBITDA | 5.29 |
EPS(TTM)3.28
EY5.36%
EPS(NY)5.13
Fwd EY8.39%
FCF(TTM)9.29
FCFY15.19%
OCF(TTM)18.22
OCFY29.8%
SpS101
BVpS29.72
TBVpS-40.47
PEG (NY)1.33
PEG (5Y)N/A
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%
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-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
WACC5.21%
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%