HEIJM Stock Analysis: Koninklijke Heijmans | AS
Engineering & Construction | AS, Netherlands | Market Cap: 3.122m EUR | 12M Return: 113.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.58M
Rev. Trend: 96.7%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 years of data
Average return per month, with how dependable it is below — did the month move the same way every year (high) or randomly (low). Above 60 is a pattern worth trusting; under 40 is noise.
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: 130.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.14 > 0.02 and ΔFCF/TA -1.88 > 1.0 |
| NWC/Revenue: 0.72% < 20% (prev 2.02%; Δ -1.29% < -1%) |
| CFO/TA 0.17 > 3% & CFO 279.0m > Net Income 130.0m |
| Net Debt (66.6m) to EBITDA (206.0m): 0.32 < 3 |
| Current Ratio: 1.02 > 1.5 & < 3 |
| Outstanding Shares: last quarter (27.5m) vs 12m ago 7.09% < -2% |
| Gross Margin: 15.87% > 18% (prev 13.09%; Δ 2.78% > 0.5%) |
| Asset Turnover: 182.7% > 50% (prev 188.8%; Δ -6.13% > 0%) |
| Interest Coverage Ratio: 41.50 > 6 (EBIT TTM 166.0m / Interest Expense TTM 4.00m) |
| A: 0.01 (Total Current Assets 947.0m - Total Current Liabilities 927.0m) / Total Assets 1.67b |
| B: 0.17 (Retained Earnings 290.0m / Total Assets 1.67b) |
| C: 0.11 (EBIT TTM 166.0m / Avg Total Assets 1.52b) |
| D: 0.49 (Book Value of Equity 548.0m / Total Liabilities 1.12b) |
| Altman-Z'' = 1.90 = BBB |
| DSRI: 1.11 (Receivables 245.0m/205.0m, Revenue 2.77b/2.58b) |
| GMI: 0.82 (GM 13.09% / 15.87%) |
| AQI: 1.06 (AQ_t 0.27 / AQ_t-1 0.26) |
| SGI: 1.07 (Revenue 2.77b / 2.58b) |
| TATA: -0.09 (NI 130.0m - CFO 279.0m) / TA 1.67b) |
| Beneish M = -3.01 (Cap -4..+1) = AA |
As of July 01, 2026, the stock is trading at EUR 114.00 with a total of 63,507 shares traded. Over the past week, the price has changed by -0.35%, over one month by +9.20%, over three months by +53.14% and over the past year by +113.48%.
Current recommended Stop Loss: 107.10 (which is 6.1% or 2.1 ATR below the current price).
Koninklijke Heijmans has no consensus analysts rating.
P/E Trailing = 24.0169
P/E Forward = 19.3424
P/S = 1.1399
P/B = 5.7632
P/EG = 2.0673
Revenue TTM = 2.77b EUR
EBIT TTM = 166.0m EUR
EBITDA TTM = 206.0m EUR
Long Term Debt = 8.30m EUR (from longTermDebt, last quarter)
Short Term Debt = 34.6m EUR (from shortTermDebt, last quarter)
Debt = 256.6m EUR (from shortLongTermDebtTotal, last quarter) + Leases 124.1m
Net Debt = 66.6m EUR (calculated: Debt 256.6m - CCE 190.0m)
Enterprise Value = 3.19b EUR (3.12b + Debt 256.6m - CCE 190.0m)
Interest Coverage Ratio = 41.50 (Ebit TTM 166.0m / Interest Expense TTM 4.00m)
EV/FCF = 13.57x (Enterprise Value 3.19b / FCF TTM 235.0m)
FCF Yield = 7.37% (FCF TTM 235.0m / Enterprise Value 3.19b)
FCF Margin = 8.48% (FCF TTM 235.0m / Revenue TTM 2.77b)
Net Margin = 4.69% (Net Income TTM 130.0m / Revenue TTM 2.77b)
Gross Margin = 15.87% ((Revenue TTM 2.77b - Cost of Revenue TTM 2.33b) / Revenue TTM)
Gross Margin QoQ = 15.53% (prev 16.26%)
Tobins Q-Ratio = 1.91 (Enterprise Value 3.19b / Total Assets 1.67b)
Interest Expense / Debt = 1.56% (Interest Expense 4.00m / Debt 256.6m)
Taxrate = 25.57% (45.0m / 176.0m)
NOPAT = 123.6m (EBIT 166.0m * (1 - 25.57%))
Current Ratio = 1.02 (Total Current Assets 947.0m / Total Current Liabilities 927.0m)
Debt / Equity = 0.47 (Debt 256.6m / totalStockholderEquity, last quarter 548.0m)
Debt / EBITDA = 0.32 (Net Debt 66.6m / EBITDA 206.0m)
Debt / FCF = 0.28 (Net Debt 66.6m / FCF TTM 235.0m)
Total Stockholder Equity = 474.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 8.57% (Net Income 130.0m / Total Assets 1.67b)
RoE = 27.43% (Net Income TTM 130.0m / Total Stockholder Equity 474.0m)
RoCE = 34.42% (EBIT 166.0m / Capital Employed (Equity 474.0m + L.T.Debt 8.30m))
RoIC = 19.46% (NOPAT 123.6m / Invested Capital 635.0m)
WACC = 7.36% (E(3.12b)/V(3.38b) * Re(7.87%) + D(256.6m)/V(3.38b) * Rd(1.56%) * (1-Tc(0.26)))
Discount Rate = 7.87% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 84.11 | Cagr: 8.46%
[DCF] Terminal Value 76.37% ; FCFF base≈228.5m ; Y1≈243.5m ; Y5≈290.6m
[DCF] Fair Price = 160.1 (EV 4.46b - Net Debt 66.6m = Equity 4.40b / Shares 27.5m; r=8.35% [WACC [floored]]; 5y FCF grow 7.40% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 96.71 | Revenue CAGR: 16.73% | SUE: -0.02 | # QB: 0
EPS current Year (2026-12-31): EPS=6.51 | Chg30d=+7.07% | Revisions=+20% | GrowthEPS=+18.6% | GrowthRev=+12.3%
EPS next Year (2027-12-31): EPS=7.37 | Chg30d=+6.35% | Revisions=+20% | GrowthEPS=+13.2% | GrowthRev=+6.4%