(HEIO) Heineken Holding - Overview
Exchange: AS •
Country: Netherlands •
Currency: EUR •
Type: Common Stock •
ISIN: NL0000008977
Stock: Beer, Cider
Total Rating 52
Risk 71
Buy Signal -0.16
Dividends
| Dividend Yield | 2.95% |
| Yield on Cost 5y | 2.80% |
| Yield CAGR 5y | 18.15% |
| Payout Consistency | 95.6% |
| Payout Ratio | 58.4% |
| Risk 5d forecast | |
|---|---|
| Volatility | 18.6% |
| Relative Tail Risk | -11.3% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.03 |
| Alpha | 13.11 |
| Character TTM | |
|---|---|
| Beta | -0.102 |
| Beta Downside | 0.053 |
| Drawdowns 3y | |
|---|---|
| Max DD | 35.05% |
| CAGR/Max DD | -0.11 |
Description: HEIO Heineken Holding January 03, 2026
Heineken Holding N.V. (ticker HEIO) is a Dutch holding company that, together with its subsidiaries, brews and sells a diversified portfolio of roughly 340 beer and cider brands worldwide, ranging from global flagship labels to regional and specialty offerings. Established in 1864 and headquartered in Amsterdam, the firm operates under the umbrella of LArche Green N.V.
Key financial and market indicators (2023) include revenue of €27.1 billion, an EBIT margin of about 14 %, and a dividend yield near 4.5 %. The business is driven by premium-segment growth, expanding demand for low- and no-alcohol variants, and ongoing cost pressures from raw-material inflation and sustainability initiatives. In the broader brewers sub-industry, consolidation and shifting consumer preferences toward craft and premium products remain primary sector dynamics.
For a deeper, data-driven valuation framework, you might explore the detailed analyst models on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 1.46b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA 7.87 > 1.0 |
| NWC/Revenue: -6.31% < 20% (prev -9.03%; Δ 2.72% < -1%) |
| CFO/TA 0.21 > 3% & CFO 10.59b > Net Income 1.46b |
| Net Debt (15.51b) to EBITDA (12.38b): 1.25 < 3 |
| Current Ratio: 0.75 > 1.5 & < 3 |
| Outstanding Shares: last quarter (282.4m) vs 12m ago -0.89% < -2% |
| Gross Margin: 16.58% > 18% (prev 0.13%; Δ 1645 % > 0.5%) |
| Asset Turnover: 111.0% > 50% (prev 76.53%; Δ 34.46% > 0%) |
| Interest Coverage Ratio: 4.94 > 6 (EBITDA TTM 12.38b / Interest Expense TTM 1.32b) |
Altman Z'' 1.18
| A: -0.07 (Total Current Assets 11.09b - Total Current Liabilities 14.86b) / Total Assets 51.32b |
| B: 0.18 (Retained Earnings 9.34b / Total Assets 51.32b) |
| C: 0.12 (EBIT TTM 6.52b / Avg Total Assets 53.91b) |
| D: 0.25 (Book Value of Equity 7.78b / Total Liabilities 31.40b) |
| Altman-Z'' Score: 1.18 = BB |
Beneish M -3.42
| DSRI: 0.66 (Receivables 5.42b/5.89b, Revenue 59.84b/43.24b) |
| GMI: 0.78 (GM 16.58% / 12.95%) |
| AQI: 0.98 (AQ_t 0.51 / AQ_t-1 0.52) |
| SGI: 1.38 (Revenue 59.84b / 43.24b) |
| TATA: -0.18 (NI 1.46b - CFO 10.59b) / TA 51.32b) |
| Beneish M-Score: -3.42 (Cap -4..+1) = AA |
What is the price of HEIO shares?
As of February 08, 2026, the stock is trading at EUR 66.40 with a total of 132,357 shares traded.
Over the past week, the price has changed by +6.58%, over one month by +7.79%, over three months by +10.12% and over the past year by +16.62%.
Over the past week, the price has changed by +6.58%, over one month by +7.79%, over three months by +10.12% and over the past year by +16.62%.
Is HEIO a buy, sell or hold?
Heineken Holding has no consensus analysts rating.
What are the forecasts/targets for the HEIO price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 107 | 61.1% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 66.2 | -0.4% |
HEIO Fundamental Data Overview February 03, 2026
Market Cap USD = 20.81b (17.64b EUR * 1.1801 EUR.USD)
P/E Trailing = 19.419
P/E Forward = 12.5471
P/S = 0.6045
P/B = 2.017
Revenue TTM = 59.84b EUR
EBIT TTM = 6.52b EUR
EBITDA TTM = 12.38b EUR
Long Term Debt = 12.75b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 4.09b EUR (from shortTermDebt, last quarter)
Debt = 17.59b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 15.51b EUR (from netDebt column, last quarter)
Enterprise Value = 33.14b EUR (17.64b + Debt 17.59b - CCE 2.08b)
Interest Coverage Ratio = 4.94 (Ebit TTM 6.52b / Interest Expense TTM 1.32b)
EV/FCF = 5.62x (Enterprise Value 33.14b / FCF TTM 5.90b)
FCF Yield = 17.81% (FCF TTM 5.90b / Enterprise Value 33.14b)
FCF Margin = 9.86% (FCF TTM 5.90b / Revenue TTM 59.84b)
Net Margin = 2.44% (Net Income TTM 1.46b / Revenue TTM 59.84b)
Gross Margin = 16.58% ((Revenue TTM 59.84b - Cost of Revenue TTM 49.91b) / Revenue TTM)
Gross Margin QoQ = 9.60% (prev 13.02%)
Tobins Q-Ratio = 0.65 (Enterprise Value 33.14b / Total Assets 51.32b)
Interest Expense / Debt = 1.68% (Interest Expense 295.0m / Debt 17.59b)
Taxrate = 29.88% (366.0m / 1.23b)
NOPAT = 4.57b (EBIT 6.52b * (1 - 29.88%))
Current Ratio = 0.75 (Total Current Assets 11.09b / Total Current Liabilities 14.86b)
Debt / Equity = 2.05 (Debt 17.59b / totalStockholderEquity, last quarter 8.56b)
Debt / EBITDA = 1.25 (Net Debt 15.51b / EBITDA 12.38b)
Debt / FCF = 2.63 (Net Debt 15.51b / FCF TTM 5.90b)
Total Stockholder Equity = 9.31b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.71% (Net Income 1.46b / Total Assets 51.32b)
RoE = 15.71% (Net Income TTM 1.46b / Total Stockholder Equity 9.31b)
RoCE = 29.55% (EBIT 6.52b / Capital Employed (Equity 9.31b + L.T.Debt 12.75b))
RoIC = 34.54% (NOPAT 4.57b / Invested Capital 13.24b)
WACC = 3.36% (E(17.64b)/V(35.22b) * Re(5.54%) + D(17.59b)/V(35.22b) * Rd(1.68%) * (1-Tc(0.30)))
Discount Rate = 5.54% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -0.11%
[DCF Debug] Terminal Value 87.56% ; FCFF base≈4.36b ; Y1≈4.99b ; Y5≈6.90b
Fair Price DCF = 675.0 (EV 202.88b - Net Debt 15.51b = Equity 187.37b / Shares 277.6m; r=5.90% [WACC]; 5y FCF grow 16.75% → 2.90% )
EPS Correlation: -17.46 | EPS CAGR: -45.20% | SUE: 0.0 | # QB: 0
Revenue Correlation: 88.10 | Revenue CAGR: 14.42% | SUE: -0.36 | # QB: 0
EPS next Year (2026-12-31): EPS=5.44 | Chg30d=+0.005 | Revisions Net=+0 | Growth EPS=+15.4% | Growth Revenue=+6.2%
P/E Trailing = 19.419
P/E Forward = 12.5471
P/S = 0.6045
P/B = 2.017
Revenue TTM = 59.84b EUR
EBIT TTM = 6.52b EUR
EBITDA TTM = 12.38b EUR
Long Term Debt = 12.75b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 4.09b EUR (from shortTermDebt, last quarter)
Debt = 17.59b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 15.51b EUR (from netDebt column, last quarter)
Enterprise Value = 33.14b EUR (17.64b + Debt 17.59b - CCE 2.08b)
Interest Coverage Ratio = 4.94 (Ebit TTM 6.52b / Interest Expense TTM 1.32b)
EV/FCF = 5.62x (Enterprise Value 33.14b / FCF TTM 5.90b)
FCF Yield = 17.81% (FCF TTM 5.90b / Enterprise Value 33.14b)
FCF Margin = 9.86% (FCF TTM 5.90b / Revenue TTM 59.84b)
Net Margin = 2.44% (Net Income TTM 1.46b / Revenue TTM 59.84b)
Gross Margin = 16.58% ((Revenue TTM 59.84b - Cost of Revenue TTM 49.91b) / Revenue TTM)
Gross Margin QoQ = 9.60% (prev 13.02%)
Tobins Q-Ratio = 0.65 (Enterprise Value 33.14b / Total Assets 51.32b)
Interest Expense / Debt = 1.68% (Interest Expense 295.0m / Debt 17.59b)
Taxrate = 29.88% (366.0m / 1.23b)
NOPAT = 4.57b (EBIT 6.52b * (1 - 29.88%))
Current Ratio = 0.75 (Total Current Assets 11.09b / Total Current Liabilities 14.86b)
Debt / Equity = 2.05 (Debt 17.59b / totalStockholderEquity, last quarter 8.56b)
Debt / EBITDA = 1.25 (Net Debt 15.51b / EBITDA 12.38b)
Debt / FCF = 2.63 (Net Debt 15.51b / FCF TTM 5.90b)
Total Stockholder Equity = 9.31b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.71% (Net Income 1.46b / Total Assets 51.32b)
RoE = 15.71% (Net Income TTM 1.46b / Total Stockholder Equity 9.31b)
RoCE = 29.55% (EBIT 6.52b / Capital Employed (Equity 9.31b + L.T.Debt 12.75b))
RoIC = 34.54% (NOPAT 4.57b / Invested Capital 13.24b)
WACC = 3.36% (E(17.64b)/V(35.22b) * Re(5.54%) + D(17.59b)/V(35.22b) * Rd(1.68%) * (1-Tc(0.30)))
Discount Rate = 5.54% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -0.11%
[DCF Debug] Terminal Value 87.56% ; FCFF base≈4.36b ; Y1≈4.99b ; Y5≈6.90b
Fair Price DCF = 675.0 (EV 202.88b - Net Debt 15.51b = Equity 187.37b / Shares 277.6m; r=5.90% [WACC]; 5y FCF grow 16.75% → 2.90% )
EPS Correlation: -17.46 | EPS CAGR: -45.20% | SUE: 0.0 | # QB: 0
Revenue Correlation: 88.10 | Revenue CAGR: 14.42% | SUE: -0.36 | # QB: 0
EPS next Year (2026-12-31): EPS=5.44 | Chg30d=+0.005 | Revisions Net=+0 | Growth EPS=+15.4% | Growth Revenue=+6.2%