(HEIA) Heineken - Overview
Sector: Consumer Defensive | Industry: Beverages - Brewers | Exchange: AS (Netherlands) | Market Cap: 36.867m EUR | Total Return: -13.3% in 12m
Beer, Cider, Soft Drinks, Wholesale, Pub Management
Total Rating 43
Safety 77
Buy Signal -0.18
Beverages - Brewers
Industry Rotation: +9.5
Industry Rotation: +9.5
Market Cap:
42.9B
Avg Turnover: 52.9M
Avg Turnover: 52.9M
Risk 3d forecast
Volatility19.7%
VaR 5th Pctl3.29%
VaR vs Median1.13%
Reward TTM
Sharpe Ratio-0.72
Rel. Str. IBD21.4
Rel. Str. Peer Group46
Character TTM
Beta-0.178
Beta Downside-0.167
Hurst Exponent0.595
Drawdowns 3y
Max DD33.38%
CAGR/Max DD-0.27
CAGR/Mean DD-0.51
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Description: HEIA Heineken
Heineken N.V. is a global beverage company headquartered in Amsterdam, operating primarily in the brewing and distribution of beer and cider. The company maintains an expansive portfolio of over 300 international, regional, and local brands, including Heineken, Amstel, and Tiger. Beyond its core brewing operations, the firm manages soft drink production, wholesale activities, and pub management services across Europe, the Americas, Africa, the Middle East, and Asia Pacific.
The brewing industry is characterized by high barriers to entry due to extensive distribution networks and the significant marketing capital required to maintain brand equity. Heineken utilizes a vertically integrated business model in several markets, controlling aspects of the value chain from production to the ownership and leasing of retail hospitality venues. For deeper insights into these operational structures, investors can explore the data sets on ValueRay.
Heineken functions as a subsidiary of Heineken Holding N.V., a structure designed to preserve the founding familys controlling interest while accessing public equity markets. Its multi-channel distribution strategy targets a diverse customer base ranging from global retailers and wholesalers to individual hotels, cafes, and restaurants.
- Premium brand volume growth in emerging markets drives revenue and margin expansion
- Input cost volatility for barley and aluminum impacts operating profit margins
- Non-alcoholic segment expansion through Heineken 0.0 captures shifting consumer health preferences
- Currency fluctuations in Asia Pacific and Africa affect consolidated earnings reports
- Cost saving initiatives through the EverGreen strategy mitigate inflationary pressures on overheads
Piotroski VR‑10 (Strict)
6.0
| Net Income: 2.49b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 5.43 > 1.0 |
| NWC/Revenue: -2.02% < 20% (prev -7.51%; Δ 5.50% < -1%) |
| CFO/TA 0.19 > 3% & CFO 10.52b > Net Income 2.49b |
| Net Debt (15.68b) to EBITDA (9.65b): 1.63 < 3 |
| Current Ratio: 0.93 > 1.5 & < 3 |
| Outstanding Shares: last quarter (560.6m) vs 12m ago -0.86% < -2% |
| Gross Margin: 22.33% > 18% (prev 0.11%; Δ 2.22k% > 0.5%) |
| Asset Turnover: 92.48% > 50% (prev 80.86%; Δ 11.61% > 0%) |
| Interest Coverage Ratio: 4.06 > 6 (EBITDA TTM 9.65b / Interest Expense TTM 1.30b) |
Altman Z''
2.19
| A: -0.02 (Total Current Assets 12.89b - Total Current Liabilities 13.93b) / Total Assets 54.96b |
| B: 0.36 (Retained Earnings 19.75b / Total Assets 54.96b) |
| C: 0.09 (EBIT TTM 5.28b / Avg Total Assets 55.67b) |
| D: 0.48 (Book Value of Equity 16.59b / Total Liabilities 34.34b) |
| Altman-Z'' Score: 2.19 = BBB |
Beneish M
-3.71
| DSRI: 0.83 (Receivables 4.19b/4.49b, Revenue 51.48b/45.60b) |
| GMI: 0.50 (GM 22.33% / 11.25%) |
| AQI: 0.93 (AQ_t 0.50 / AQ_t-1 0.54) |
| SGI: 1.13 (Revenue 51.48b / 45.60b) |
| TATA: -0.15 (NI 2.49b - CFO 10.52b) / TA 54.96b) |
| Beneish M-Score: -3.71 (Cap -4..+1) = AAA |
What is the price of HEIA shares?
As of May 19, 2026, the stock is trading at EUR 66.34 with a total of 976,490 shares traded.
Over the past week, the price has changed by +2.44%, over one month by -2.02%, over three months by -12.03% and over the past year by -13.26%.
Over the past week, the price has changed by +2.44%, over one month by -2.02%, over three months by -12.03% and over the past year by -13.26%.
Is HEIA a buy, sell or hold?
Heineken has no consensus analysts rating.
What are the forecasts/targets for the HEIA price?
| Analysts Target Price | - | - |
Heineken (HEIA) - Fundamental Data Overview
as of 18 May 2026
Market Cap USD = 42.86b (36.87b EUR * 1.1626 EUR.USD)P/E Trailing = 19.5503
P/E Forward = 12.6904
P/S = 1.2822
P/B = 2.0346
P/EG = 1.1845
Revenue TTM = 51.48b EUR
EBIT TTM = 5.28b EUR
EBITDA TTM = 9.65b EUR
Long Term Debt = 15.02b EUR (from longTermDebt, last quarter)
Short Term Debt = 3.09b EUR (from shortTermDebt, last quarter)
Debt = 20.45b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 15.68b EUR (from netDebt column, last quarter)
Enterprise Value = 52.54b EUR (36.87b + Debt 20.45b - CCE 4.77b)
Interest Coverage Ratio = 4.06 (Ebit TTM 5.28b / Interest Expense TTM 1.30b)
EV/FCF = 8.76x (Enterprise Value 52.54b / FCF TTM 6.00b)
FCF Yield = 11.42% (FCF TTM 6.00b / Enterprise Value 52.54b)
FCF Margin = 11.66% (FCF TTM 6.00b / Revenue TTM 51.48b)
Net Margin = 4.84% (Net Income TTM 2.49b / Revenue TTM 51.48b)
Gross Margin = 22.33% ((Revenue TTM 51.48b - Cost of Revenue TTM 39.99b) / Revenue TTM)
Gross Margin QoQ = 12.93% (prev 34.87%)
Tobins Q-Ratio = 0.96 (Enterprise Value 52.54b / Total Assets 54.96b)
Interest Expense / Debt = 1.59% (Interest Expense 325.0m / Debt 20.45b)
Taxrate = 27.74% (491.0m / 1.77b)
NOPAT = 3.82b (EBIT 5.28b * (1 - 27.74%))
Current Ratio = 0.93 (Total Current Assets 12.89b / Total Current Liabilities 13.93b)
Debt / Equity = 1.14 (Debt 20.45b / totalStockholderEquity, last quarter 17.98b)
Debt / EBITDA = 1.63 (Net Debt 15.68b / EBITDA 9.65b)
Debt / FCF = 2.61 (Net Debt 15.68b / FCF TTM 6.00b)
Total Stockholder Equity = 18.67b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.47% (Net Income 2.49b / Total Assets 54.96b)
RoE = 13.34% (Net Income TTM 2.49b / Total Stockholder Equity 18.67b)
RoCE = 15.68% (EBIT 5.28b / Capital Employed (Equity 18.67b + L.T.Debt 15.02b))
RoIC = 14.12% (NOPAT 3.82b / Invested Capital 27.04b)
WACC = 3.86% (E(36.87b)/V(57.32b) * Re(5.36%) + D(20.45b)/V(57.32b) * Rd(1.59%) * (1-Tc(0.28)))
Discount Rate = 5.36% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares (quarterly) Correlation: -67.42 | Cagr: -1.20%
[DCF] Terminal Value 85.55% ; FCFF base≈4.84b ; Y1≈4.49b ; Y5≈4.09b
[DCF] Fair Price = 191.7 (EV 122.65b - Net Debt 15.68b = Equity 106.97b / Shares 557.9m; r=6.0% [WACC]; 5y FCF grow -9.23% → 3.0% )
EPS Correlation: -38.48 | EPS CAGR: 5.62% | SUE: N/A | # QB: 0
Revenue Correlation: 54.51 | Revenue CAGR: 42.66% | SUE: -0.03 | # QB: 0
EPS current Year (2026-12-31): EPS=5.24 | Chg30d=+0.19% | Revisions=-9% | GrowthEPS=+9.7% | GrowthRev=-10.2%
EPS next Year (2027-12-31): EPS=5.63 | Chg30d=-0.31% | Revisions=-27% | GrowthEPS=+7.4% | GrowthRev=+3.8%
[Analyst] Revisions Ratio: -27%