HEINEKEN HOLDING NV (HEIO.AS) Stock Fundamental Analysis
Europe • Euronext Amsterdam • AMS:HEIO • NL0000008977
62.3 EUR
+0.1 (+0.16%)
Last: Jan 30, 2026, 07:00 PM
HEIO gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals 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.
- 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.
- HEIO has a Return On Equity of 10.82%. This is in the better half of the industry: HEIO outperforms 68.97% of its industry peers.
- Looking at the Return On Invested Capital, with a value of 6.70%, HEIO is in line with its industry, outperforming 51.72% 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 7.93%.
| 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's Profit Margin of 3.18% is on the low side compared to the rest of the industry. HEIO is outperformed by 75.86% of its industry peers.
- HEIO's Profit Margin has declined in the last couple of years.
- 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 82.76% 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.
- HEIO has a better debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 1.23, we must say that HEIO is in the distress zone and has some risk of bankruptcy.
- Looking at the Altman-Z score, with a value of 1.23, HEIO is doing worse than 86.21% 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.
- With a decent Debt to FCF ratio value of 6.57, HEIO is doing good in the industry, outperforming 65.52% 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.
- With a Debt to Equity ratio value of 1.75, HEIO is not doing good in the industry: 75.86% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.75 | ||
| Debt/FCF | 6.57 | ||
| Altman-Z | 1.23 |
ROIC/WACC1.29
WACC5.19%
2.3 Liquidity
- A Current Ratio of 0.75 indicates that HEIO may have some problems paying its short term obligations.
- HEIO's Current ratio of 0.75 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 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's Quick ratio of 0.51 is on the low side compared to the rest of the industry. HEIO is outperformed by 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.
- The earnings per share for HEIO have been decreasing by -14.14% on average. This is quite bad
- HEIO shows a decrease in Revenue. In the last year, the revenue decreased by -4.96%.
- 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
- Based on estimates for the next years, HEIO will show a quite strong growth in Earnings Per Share. The EPS will grow by 19.98% on average per year.
- HEIO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.55% yearly.
EPS Next Y5.79%
EPS Next 2Y23.84%
EPS Next 3Y43.18%
EPS Next 5Y19.98%
Revenue Next Year1.62%
Revenue Next 2Y6.88%
Revenue Next 3Y6.46%
Revenue Next 5Y1.55%
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
- Based on the Price/Earnings ratio of 18.99, the valuation of HEIO can be described as rather expensive.
- 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 (28.32), we can say HEIO is valued slightly cheaper.
- With a Price/Forward Earnings ratio of 12.14, HEIO is valued correctly.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of HEIO indicates a somewhat cheap valuation: HEIO is cheaper than 75.86% of the companies listed in the same industry.
- The average S&P500 Price/Forward Earnings ratio is at 25.57. HEIO is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.99 | ||
| Fwd PE | 12.14 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HEIO indicates a rather cheap valuation: HEIO is cheaper than 93.10% of the companies listed in the same industry.
- 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 | 6.71 | ||
| EV/EBITDA | 5.37 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive 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)3.28
PEG (5Y)N/A
EPS Next 2Y23.84%
EPS Next 3Y43.18%
5. Dividend
5.1 Amount
- HEIO has a Yearly Dividend Yield of 3.07%. Purely for dividend investing, there may be better candidates out there.
- Compared to an average industry Dividend Yield of 2.72, HEIO pays a bit more dividend than its industry peers.
- HEIO's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.07% |
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%
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 of HEINEKEN HOLDING NV (HEIO.AS) 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.
Can you provide the financial health for HEIO stock?
The financial health rating of HEINEKEN HOLDING NV (HEIO.AS) is 2 / 10.
How sustainable is the dividend of HEINEKEN HOLDING NV (HEIO.AS) stock?
The dividend rating of HEINEKEN HOLDING NV (HEIO.AS) is 3 / 10 and the dividend payout ratio is 143.2%.