(HEIA) Heineken - Ratings and Ratios
Exchange: AS •
Country: Netherlands •
Currency: EUR •
Type: Common Stock •
ISIN: NL0000009165
Beer, Cider, Malt, Soft Drinks, Bottled Water
Description: HEIA Heineken September 29, 2025
Heineken N.V. (ticker HEIA) is a Dutch-based brewer that produces and sells beer, cider, wine, soft drinks, and bottled water across the Americas, Europe, Africa, the Middle East, and Asia-Pacific. Its portfolio spans global and regional brands such as Heineken, Desperados, Birra Moretti, Kingfisher, Dos Equis, Strongbow, Lagunitas, and Tecate, serving retailers, wholesalers, on-premise venues (cafés, bars, hotels, restaurants) and the broader consumer market.
In FY 2023 the company generated €28.6 billion in revenue with an adjusted EBIT margin of roughly 15 %, driven by continued premiumisation in emerging markets and a 4 % volume growth in Africa and Asia-Pacific. Key economic drivers include raw-material price inflation (barley, aluminum) and currency fluctuations, while the broader brewers sub-industry is seeing a modest 3 % CAGR as consumers shift toward higher-margin craft and low-alcohol offerings. Heineken’s sustainability agenda targets a 30 % reduction in CO₂ emissions per litre by 2030, which is increasingly factored into investor risk assessments.
Heineken operates as a subsidiary of Heineken Holding N.V., with a corporate history dating back to 1864 and a headquarters in Amsterdam. For a deeper quantitative assessment, the ValueRay platform offers a granular breakdown of HEIA’s valuation metrics and scenario analysis.
HEIA Stock Overview
| Market Cap in USD | 43,202m |
| Sub-Industry | Brewers |
| IPO / Inception |
HEIA Stock Ratings
| Growth Rating | -22.9% |
| Fundamental | 76.5% |
| Dividend Rating | 57.7% |
| Return 12m vs S&P 500 | -19.0% |
| Analyst Rating | - |
HEIA Dividends
| Dividend Yield 12m | 2.75% |
| Yield on Cost 5y | 2.32% |
| Annual Growth 5y | 13.57% |
| Payout Consistency | 93.5% |
| Payout Ratio | 37.1% |
HEIA Growth Ratios
| Growth Correlation 3m | -7.2% |
| Growth Correlation 12m | -1.5% |
| Growth Correlation 5y | -50.1% |
| CAGR 5y | -5.69% |
| CAGR/Max DD 3y (Calmar Ratio) | -0.15 |
| CAGR/Mean DD 3y (Pain Ratio) | -0.32 |
| Sharpe Ratio 12m | -0.68 |
| Alpha | -14.56 |
| Beta | 0.577 |
| Volatility | 20.42% |
| Current Volume | 836k |
| Average Volume 20d | 874.4k |
| Stop Loss | 67.4 (-3%) |
| Signal | 0.84 |
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income (3.72b TTM) > 0 and > 6% of Revenue (6% = 2.74b TTM) |
| FCFTA 0.06 (>2.0%) and ΔFCFTA -0.51pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -8.30% (prev -12.62%; Δ 4.32pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.13 (>3.0%) and CFO 6.76b > Net Income 3.72b (YES >=105%, WARN >=100%) |
| Net Debt (13.36b) to EBITDA (9.18b) ratio: 1.45 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.75 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (564.9m) change vs 12m ago -0.36% (target <= -2.0% for YES) |
| Gross Margin 11.25% (prev 18.21%; Δ -6.95pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 84.01% (prev 54.33%; Δ 29.68pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 5.80 (EBITDA TTM 9.18b / Interest Expense TTM 884.0m) >= 6 (WARN >= 3) |
Altman Z'' 2.01
| (A) -0.07 = (Total Current Assets 11.08b - Total Current Liabilities 14.86b) / Total Assets 51.63b |
| (B) 0.37 = Retained Earnings (Balance) 19.20b / Total Assets 51.63b |
| (C) 0.09 = EBIT TTM 5.13b / Avg Total Assets 54.27b |
| (D) 0.61 = Book Value of Equity 19.20b / Total Liabilities 31.40b |
| Total Rating: 2.01 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 76.48
| 1. Piotroski 5.0pt = 0.0 |
| 2. FCF Yield 6.05% = 3.03 |
| 3. FCF Margin 6.79% = 1.70 |
| 4. Debt/Equity 0.89 = 2.12 |
| 5. Debt/Ebitda 1.45 = 1.04 |
| 6. ROIC - WACC (= 15.20)% = 12.50 |
| 7. RoE 19.39% = 1.62 |
| 8. Rev. Trend 73.05% = 5.48 |
| 9. EPS Trend -19.96% = -1.00 |
What is the price of HEIA shares?
As of November 07, 2025, the stock is trading at EUR 69.50 with a total of 835,990 shares traded.
Over the past week, the price has changed by +2.09%, over one month by +5.98%, over three months by +2.93% and over the past year by -3.72%.
Over the past week, the price has changed by +2.09%, over one month by +5.98%, over three months by +2.93% and over the past year by -3.72%.
Is Heineken a good stock to buy?
Partly, yes. Based on ValueRay´s Fundamental Analyses, Heineken (AS:HEIA) is currently (November 2025)
ok to buy, but has to be watched. It has a ValueRay Fundamental Rating of 76.48 and therefor a somewhat positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of HEIA is around 64.05 EUR . This means that HEIA is currently overvalued and has a potential downside of -7.84%.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of HEIA is around 64.05 EUR . This means that HEIA is currently overvalued and has a potential downside of -7.84%.
Is HEIA a buy, sell or hold?
Heineken has no consensus analysts rating.
What are the forecasts/targets for the HEIA price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 86.3 | 24.1% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 70.1 | 0.8% |
HEIA Fundamental Data Overview January 01, 1970
Market Cap USD = 43.20b (37.49b EUR * 1.1525 EUR.USD)
Market Cap EUR = 37.49b (37.49b EUR * 1.0 EUR.EUR)
P/E Trailing = 20.7346
P/E Forward = 13.947
P/S = 1.2848
P/B = 2.083
P/EG = 0.4681
Beta = 0.577
Revenue TTM = 45.60b EUR
EBIT TTM = 5.13b EUR
EBITDA TTM = 9.18b EUR
Long Term Debt = 12.75b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 2.95b EUR (from shortLongTermDebt, last fiscal year)
Debt = 15.71b EUR (Calculated: Short Term 2.95b + Long Term 12.75b)
Net Debt = 13.36b EUR (from netDebt column, last fiscal year)
Enterprise Value = 51.12b EUR (37.49b + Debt 15.71b - CCE 2.07b)
Interest Coverage Ratio = 5.80 (Ebit TTM 5.13b / Interest Expense TTM 884.0m)
FCF Yield = 6.05% (FCF TTM 3.10b / Enterprise Value 51.12b)
FCF Margin = 6.79% (FCF TTM 3.10b / Revenue TTM 45.60b)
Net Margin = 8.16% (Net Income TTM 3.72b / Revenue TTM 45.60b)
Gross Margin = 11.25% ((Revenue TTM 45.60b - Cost of Revenue TTM 40.47b) / Revenue TTM)
Gross Margin QoQ = 9.22% (prev 10.36%)
Tobins Q-Ratio = 0.99 (Enterprise Value 51.12b / Total Assets 51.63b)
Interest Expense / Debt = 2.20% (Interest Expense 345.0m / Debt 15.71b)
Taxrate = 2.84% (32.0m / 1.13b)
NOPAT = 4.99b (EBIT 5.13b * (1 - 2.84%))
Current Ratio = 0.75 (Total Current Assets 11.08b / Total Current Liabilities 14.86b)
Debt / Equity = 0.89 (Debt 15.71b / totalStockholderEquity, last quarter 17.71b)
Debt / EBITDA = 1.45 (Net Debt 13.36b / EBITDA 9.18b)
Debt / FCF = 4.32 (Net Debt 13.36b / FCF TTM 3.10b)
Total Stockholder Equity = 19.19b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.21% (Net Income 3.72b / Total Assets 51.63b)
RoE = 19.39% (Net Income TTM 3.72b / Total Stockholder Equity 19.19b)
RoCE = 16.06% (EBIT 5.13b / Capital Employed (Equity 19.19b + L.T.Debt 12.75b))
RoIC = 21.57% (NOPAT 4.99b / Invested Capital 23.12b)
WACC = 6.37% (E(37.49b)/V(53.19b) * Re(8.14%) + D(15.71b)/V(53.19b) * Rd(2.20%) * (1-Tc(0.03)))
Discount Rate = 8.14% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.93%
[DCF Debug] Terminal Value 76.78% ; FCFE base≈3.34b ; Y1≈3.09b ; Y5≈2.82b
Fair Price DCF = 89.21 (DCF Value 49.78b / Shares Outstanding 558.0m; 5y FCF grow -9.23% → 3.0% )
EPS Correlation: -19.96 | EPS CAGR: -78.78% | SUE: 0.0 | # QB: 0
Revenue Correlation: 73.05 | Revenue CAGR: 22.98% | SUE: -0.03 | # QB: 0
Market Cap EUR = 37.49b (37.49b EUR * 1.0 EUR.EUR)
P/E Trailing = 20.7346
P/E Forward = 13.947
P/S = 1.2848
P/B = 2.083
P/EG = 0.4681
Beta = 0.577
Revenue TTM = 45.60b EUR
EBIT TTM = 5.13b EUR
EBITDA TTM = 9.18b EUR
Long Term Debt = 12.75b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 2.95b EUR (from shortLongTermDebt, last fiscal year)
Debt = 15.71b EUR (Calculated: Short Term 2.95b + Long Term 12.75b)
Net Debt = 13.36b EUR (from netDebt column, last fiscal year)
Enterprise Value = 51.12b EUR (37.49b + Debt 15.71b - CCE 2.07b)
Interest Coverage Ratio = 5.80 (Ebit TTM 5.13b / Interest Expense TTM 884.0m)
FCF Yield = 6.05% (FCF TTM 3.10b / Enterprise Value 51.12b)
FCF Margin = 6.79% (FCF TTM 3.10b / Revenue TTM 45.60b)
Net Margin = 8.16% (Net Income TTM 3.72b / Revenue TTM 45.60b)
Gross Margin = 11.25% ((Revenue TTM 45.60b - Cost of Revenue TTM 40.47b) / Revenue TTM)
Gross Margin QoQ = 9.22% (prev 10.36%)
Tobins Q-Ratio = 0.99 (Enterprise Value 51.12b / Total Assets 51.63b)
Interest Expense / Debt = 2.20% (Interest Expense 345.0m / Debt 15.71b)
Taxrate = 2.84% (32.0m / 1.13b)
NOPAT = 4.99b (EBIT 5.13b * (1 - 2.84%))
Current Ratio = 0.75 (Total Current Assets 11.08b / Total Current Liabilities 14.86b)
Debt / Equity = 0.89 (Debt 15.71b / totalStockholderEquity, last quarter 17.71b)
Debt / EBITDA = 1.45 (Net Debt 13.36b / EBITDA 9.18b)
Debt / FCF = 4.32 (Net Debt 13.36b / FCF TTM 3.10b)
Total Stockholder Equity = 19.19b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.21% (Net Income 3.72b / Total Assets 51.63b)
RoE = 19.39% (Net Income TTM 3.72b / Total Stockholder Equity 19.19b)
RoCE = 16.06% (EBIT 5.13b / Capital Employed (Equity 19.19b + L.T.Debt 12.75b))
RoIC = 21.57% (NOPAT 4.99b / Invested Capital 23.12b)
WACC = 6.37% (E(37.49b)/V(53.19b) * Re(8.14%) + D(15.71b)/V(53.19b) * Rd(2.20%) * (1-Tc(0.03)))
Discount Rate = 8.14% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.93%
[DCF Debug] Terminal Value 76.78% ; FCFE base≈3.34b ; Y1≈3.09b ; Y5≈2.82b
Fair Price DCF = 89.21 (DCF Value 49.78b / Shares Outstanding 558.0m; 5y FCF grow -9.23% → 3.0% )
EPS Correlation: -19.96 | EPS CAGR: -78.78% | SUE: 0.0 | # QB: 0
Revenue Correlation: 73.05 | Revenue CAGR: 22.98% | SUE: -0.03 | # QB: 0