HEINEKEN HOLDING NV (HEIO.AS) Stock Fundamental Analysis
Europe - Euronext Amsterdam - AMS:HEIO - NL0000008977 - Common Stock
61.1 EUR
+0.1 (+0.16%)
Taking everything into account, HEIO scores 4 out of 10 in our fundamental rating. HEIO was compared to 27 industry peers in the Beverages industry. HEIO has a bad profitability rating. Also its financial health evaluation is rather negative. 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.
In the past 5 years HEIO always reported a positive cash flow from operatings.
1.2 Ratios
With a Return On Assets value of 1.80%, HEIO is not doing good in the industry: 74.07% of the companies in the same industry are doing better.
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.
HEIO has a Return On Invested Capital (6.70%) 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 7.71%.
| 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
HEIO has a worse Profit Margin (3.18%) than 74.07% of its industry peers.
HEIO's Profit Margin has declined in the last couple of years.
With a Operating Margin value of 11.42%, HEIO is not doing good in the industry: 62.96% of the companies in the same industry are doing better.
HEIO's Operating Margin has declined in the last couple of years.
HEIO's Gross Margin of 35.12% is on the low side compared to the rest of the industry. HEIO is outperformed by 81.48% 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.
Compared to 1 year ago, HEIO has about the same amount of shares outstanding.
HEIO has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, HEIO has an improved debt to assets ratio.
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.
HEIO has a Debt to FCF ratio of 6.57. This is in the better half of the industry: HEIO outperforms 66.67% 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.
HEIO has a worse Debt to Equity ratio (1.75) than 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.
HEIO has a worse Current ratio (0.75) than 74.07% 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 has a Quick ratio (0.51) which is in line with 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 72.89% over the past year.
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.
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)72.89%
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
Based on estimates for the next years, HEIO will show a quite strong growth in Earnings Per Share. The EPS will grow by 19.92% on average per year.
Based on estimates for the next years, HEIO will show a small growth in Revenue. The Revenue will grow by 1.70% on average per year.
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
HEIO is valuated rather expensively with a Price/Earnings ratio of 18.63.
HEIO's Price/Earnings ratio is in line with the industry average.
HEIO is valuated rather cheaply when we compare the Price/Earnings ratio to 25.65, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 11.86, the valuation of HEIO can be described as very reasonable.
Based on the Price/Forward Earnings ratio, HEIO is valued a bit cheaper than 77.78% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of HEIO to the average of the S&P500 Index (34.45), we can say HEIO is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.63 | ||
| Fwd PE | 11.86 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HEIO is valued cheaper than 92.59% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, HEIO is valued cheaper than 85.19% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.58 | ||
| EV/EBITDA | 5.3 |
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.
A more expensive valuation may be justified as HEIO's earnings are expected to grow with 43.18% in the coming years.
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%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 3.07, HEIO pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.41, HEIO pays a bit more dividend than the S&P500 average.
| 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 (11/25/2025, 11:18:08 AM)
61.1
+0.1 (+0.16%)
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 | 5.3 |
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%.