HEIJM Stock Analysis: Koninklijke Heijmans | AS
Engineering & Construction | AS, Netherlands | Market Cap: 2.514m EUR | 12M Return: 42.8% | NL0009269109 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 3.57M
Rev. Trend: 97.3%
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Koninklijke Heijmans N.V. is a Dutch integrated construction and engineering company operating in real estate, construction, and infrastructure, primarily in the Netherlands with some international activity. The company operates across the full construction value chain, combining property development, building services, and civil infrastructure under one roof-a common structure for large European contractors in the Construction & Engineering sub-industry.
Its activities include initiating, developing, and selling residential properties, as well as the restoration, renovation, and maintenance of existing housing stock. It also designs, installs, and maintains electro-technical and mechanical systems, and delivers complex building projects across healthcare, government, commercial real estate, datacentres, and high-tech clean industry segments such as laboratories. Additionally, Heijmans is involved in the construction, improvement, and maintenance of road infrastructure and public spaces, including related installations and on-site objects.
The company was founded in 1923 and is headquartered in Rosmalen, the Netherlands. It was formerly known as Heijmans N.V. and adopted the name Koninklijke Heijmans N.V. in September 2023.
- Dutch housing shortage fuels residential development revenue growth
- Infrastructure orders rise on increased Dutch public sector spending
- Construction margins face pressure from labor and material cost inflation
| Net Income: 144.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA -0.18 > 1.0 |
| NWC/Revenue: 0.27% < 20% (prev 1.83%; Δ -1.56% < -1%) |
| CFO/TA 0.18 > 3% & CFO 319.0m > Net Income 144.0m |
| Net Debt (78.0m) to EBITDA (245.0m): 0.32 < 3 |
| Current Ratio: 1.01 > 1.5 & < 3 |
| Outstanding Shares: last quarter (27.5m) vs 12m ago 3.22% < -2% |
| Gross Margin: 16.41% > 18% (prev 14.21%; Δ 2.21% > 0.5%) |
| Asset Turnover: 184.4% > 50% (prev 182.1%; Δ 2.28% > 0%) |
| Interest Coverage Ratio: 44.75 > 6 (EBIT TTM 179.0m / Interest Expense TTM 4.00m) |
| A: 0.00 (Total Current Assets 1.02b - Total Current Liabilities 1.02b) / Total Assets 1.76b |
| B: 0.17 (Retained Earnings 297.0m / Total Assets 1.76b) |
| C: 0.11 (EBIT TTM 179.0m / Avg Total Assets 1.62b) |
| D: 0.46 (Book Value of Equity 554.0m / Total Liabilities 1.21b) |
| Altman-Z'' = 1.81 = BBB |
| DSRI: 0.96 (Receivables 294.0m/276.0m, Revenue 2.98b/2.68b) |
| GMI: 0.87 (GM 14.21% / 16.41%) |
| AQI: 1.06 (AQ_t 0.26 / AQ_t-1 0.25) |
| SGI: 1.11 (Revenue 2.98b / 2.68b) |
| TATA: -0.10 (NI 144.0m - CFO 319.0m) / TA 1.76b) |
| Beneish M = -3.08 (Cap -4..+1) = AA |
As of August 24, 2026, the stock is trading at EUR 87.70 with a total of 59,478 shares traded. Over the past week, the price has changed by -4.15%, over one month by -9.77%, over three months by -13.17% and over the past year by +42.79%.
Current recommended Stop Loss: 84.30 (which is 3.9% or 1.2 ATR below the current price).
Koninklijke Heijmans has no consensus analysts rating.
P/E Trailing = 17.4618
P/E Forward = 15.4321
P/S = 0.8439
P/B = 4.5433
P/EG = 2.0673
Revenue TTM = 2.98b EUR
EBIT TTM = 179.0m EUR
EBITDA TTM = 245.0m EUR
Long Term Debt = 9.00m EUR (from longTermDebt, last quarter)
Short Term Debt = 39.0m EUR (from shortTermDebt, last quarter)
Debt = 267.0m EUR (from shortLongTermDebtTotal, last quarter) + Leases 129.0m
Net Debt = 78.0m EUR (calculated: Debt 267.0m - CCE 189.0m)
Enterprise Value = 2.59b EUR (2.51b + Debt 267.0m - CCE 189.0m)
Interest Coverage Ratio = 44.75 (Ebit TTM 179.0m / Interest Expense TTM 4.00m)
EV/FCF = 11.03x (Enterprise Value 2.59b / FCF TTM 235.0m)
FCF Yield = 9.07% (FCF TTM 235.0m / Enterprise Value 2.59b)
FCF Margin = 7.89% (FCF TTM 235.0m / Revenue TTM 2.98b)
Net Margin = 4.83% (Net Income TTM 144.0m / Revenue TTM 2.98b)
Gross Margin = 16.41% ((Revenue TTM 2.98b - Cost of Revenue TTM 2.49b) / Revenue TTM)
Gross Margin QoQ = 17.27% (prev 15.53%)
Tobins Q-Ratio = 1.47 (Enterprise Value 2.59b / Total Assets 1.76b)
Interest Expense / Debt = 1.50% (Interest Expense 4.00m / Debt 267.0m)
Taxrate = 24.87% (48.0m / 193.0m)
NOPAT = 134.5m (EBIT 179.0m * (1 - 24.87%))
Current Ratio = 1.01 (Total Current Assets 1.02b / Total Current Liabilities 1.02b)
Debt / Equity = 0.48 (Debt 267.0m / totalStockholderEquity, last quarter 554.0m)
Debt / EBITDA = 0.32 (Net Debt 78.0m / EBITDA 245.0m)
Debt / FCF = 0.33 (Net Debt 78.0m / FCF TTM 235.0m)
Total Stockholder Equity = 510.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 8.91% (Net Income 144.0m / Total Assets 1.76b)
RoE = 28.24% (Net Income TTM 144.0m / Total Stockholder Equity 510.0m)
RoCE = 34.49% (EBIT 179.0m / Capital Employed (Equity 510.0m + L.T.Debt 9.00m))
RoIC = 21.21% (NOPAT 134.5m / Invested Capital 634.0m)
WACC = 7.41% (E(2.51b)/V(2.78b) * Re(8.08%) + D(267.0m)/V(2.78b) * Rd(1.50%) * (1-Tc(0.25)))
Discount Rate = 8.08% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 93.53 | Cagr: 8.43%
[DCF] Terminal Value 77.97% ; FCFF base≈220.5m ; Y1≈252.8m ; Y5≈372.0m
[DCF] Fair Price = 200.9 (EV 5.60b - Net Debt 78.0m = Equity 5.52b / Shares 27.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 97.29 | Revenue CAGR: 13.25% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=5.99 | Chg30d=-7.99% | Revisions=+25% | GrowthEPS=+9.1% | GrowthRev=+12.6%
EPS next Year (2027-12-31): EPS=7.85 | Chg30d=+6.51% | Revisions=+25% | GrowthEPS=+31.1% | GrowthRev=+6.7%