(HEIJM) Koninklijke Heijmans - Ratings and Ratios
Exchange: AS •
Country: Netherlands •
Currency: EUR •
Type: Common Stock •
ISIN: NL0009269109
Residential Property, Infrastructure, Construction, Renovation, Public Space
Dividends
| Dividend Yield | 4.26% |
| Yield on Cost 5y | 19.52% |
| Yield CAGR 5y | 22.43% |
| Payout Consistency | 64.4% |
| Payout Ratio | 40.4% |
| Risk via 5d forecast | |
|---|---|
| Volatility | 36.9% |
| Value at Risk 5%th | 52.6% |
| Relative Tail Risk | -13.21% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 2.40 |
| Alpha | 134.42 |
| CAGR/Max DD | 4.98 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.512 |
| Beta | 0.291 |
| Beta Downside | 0.547 |
| Drawdowns 3y | |
|---|---|
| Max DD | 19.40% |
| Mean DD | 5.39% |
| Median DD | 4.01% |
Description: HEIJM Koninklijke Heijmans January 16, 2026
Koninklijke Heijmans N.V. (HEIJM) is a Dutch-based integrated contractor that develops, builds, renovates and maintains residential, commercial and infrastructure assets across the Netherlands and selected international markets. Its activities span urban and out-of-town residential development, large-scale construction for health-care, government and high-tech clean-industry clients, as well as road, public-space and utility infrastructure projects.
Key metrics from the most recent fiscal year show revenue of roughly €5.5 billion, an order backlog of about €2.2 billion, and an adjusted EBIT margin near 6 %. The company’s earnings are highly sensitive to Dutch government capital-expenditure plans-particularly the “Infrastructure Investment Programme” targeting 1 % of GDP annually-and to the persistent housing shortage that fuels demand for new and refurbished dwellings. Heijmans is also expanding its clean-tech construction franchise, positioning itself to capture growth in renewable-energy facilities and energy-efficient building retrofits.
For a deeper, data-driven view of Heijmans’ valuation dynamics, you may find ValueRay’s analytical platform worth a quick look.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income (149.7m TTM) > 0 and > 6% of Revenue (6% = 282.1m TTM) |
| FCFTA 0.21 (>2.0%) and ΔFCFTA 12.33pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 1.04% (prev 5.08%; Δ -4.03pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.23 (>3.0%) and CFO 335.5m > Net Income 149.7m (YES >=105%, WARN >=100%) |
| Net Debt (12.6m) to EBITDA (265.1m) ratio: 0.05 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.06 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last fiscal year (27.2m) change vs prev FY 8.99% (target <= -2.0% for YES) |
| Gross Margin 13.34% (prev 12.93%; Δ 0.41pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 370.9% (prev 170.2%; Δ 200.8pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 19.63 (EBITDA TTM 265.1m / Interest Expense TTM 8.91m) >= 6 (WARN >= 3) |
Altman Z'' 1.86
| (A) 0.03 = (Total Current Assets 869.0m - Total Current Liabilities 820.0m) / Total Assets 1.47b |
| (B) 0.15 = Retained Earnings (Balance) 219.0m / Total Assets 1.47b |
| (C) 0.14 = EBIT TTM 175.0m / Avg Total Assets 1.27b |
| (D) 0.22 = Book Value of Equity 219.0m / Total Liabilities 995.0m |
| Total Rating: 1.86 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 84.17
| 1. Piotroski 6.0pt |
| 2. FCF Yield 15.82% |
| 3. FCF Margin 6.46% |
| 4. Debt/Equity 0.24 |
| 5. Debt/Ebitda 0.05 |
| 6. ROIC - WACC (= 21.85)% |
| 7. RoE 34.59% |
| 8. Rev. Trend 81.01% |
| 9. EPS Trend 10.24% |
What is the price of HEIJM shares?
As of January 19, 2026, the stock is trading at EUR 70.95 with a total of 62,538 shares traded.
Over the past week, the price has changed by +0.50%, over one month by +7.91%, over three months by +19.04% and over the past year by +142.58%.
Over the past week, the price has changed by +0.50%, over one month by +7.91%, over three months by +19.04% and over the past year by +142.58%.
Is HEIJM a buy, sell or hold?
Koninklijke Heijmans has no consensus analysts rating.
What are the forecasts/targets for the HEIJM price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 70.4 | -0.8% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 122.6 | 72.7% |
HEIJM Fundamental Data Overview January 14, 2026
Market Cap USD = 2.19b (1.88b EUR * 1.1624 EUR.USD)
P/E Trailing = 16.8428
P/E Forward = 13.0039
P/S = 0.7036
P/B = 4.0841
Revenue TTM = 4.70b EUR
EBIT TTM = 175.0m EUR
EBITDA TTM = 265.1m EUR
Long Term Debt = 9.00m EUR (from longTermDebt, last quarter)
Short Term Debt = 1.00m EUR (from shortLongTermDebt, last quarter)
Debt = 115.2m EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 12.6m EUR (from netDebt column, last fiscal year)
Enterprise Value = 1.92b EUR (1.88b + Debt 115.2m - CCE 78.0m)
Interest Coverage Ratio = 19.63 (Ebit TTM 175.0m / Interest Expense TTM 8.91m)
EV/FCF = 6.32x (Enterprise Value 1.92b / FCF TTM 303.8m)
FCF Yield = 15.82% (FCF TTM 303.8m / Enterprise Value 1.92b)
FCF Margin = 6.46% (FCF TTM 303.8m / Revenue TTM 4.70b)
Net Margin = 3.18% (Net Income TTM 149.7m / Revenue TTM 4.70b)
Gross Margin = 13.34% ((Revenue TTM 4.70b - Cost of Revenue TTM 4.07b) / Revenue TTM)
Gross Margin QoQ = 12.24% (prev 14.05%)
Tobins Q-Ratio = 1.31 (Enterprise Value 1.92b / Total Assets 1.47b)
Interest Expense / Debt = 2.78% (Interest Expense 3.20m / Debt 115.2m)
Taxrate = 23.41% (14.0m / 59.8m)
NOPAT = 134.0m (EBIT 175.0m * (1 - 23.41%))
Current Ratio = 1.06 (Total Current Assets 869.0m / Total Current Liabilities 820.0m)
Debt / Equity = 0.24 (Debt 115.2m / totalStockholderEquity, last quarter 475.0m)
Debt / EBITDA = 0.05 (Net Debt 12.6m / EBITDA 265.1m)
Debt / FCF = 0.04 (Net Debt 12.6m / FCF TTM 303.8m)
Total Stockholder Equity = 432.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 11.81% (Net Income 149.7m / Total Assets 1.47b)
RoE = 34.59% (Net Income TTM 149.7m / Total Stockholder Equity 432.9m)
RoCE = 39.60% (EBIT 175.0m / Capital Employed (Equity 432.9m + L.T.Debt 9.00m))
RoIC = 28.56% (NOPAT 134.0m / Invested Capital 469.3m)
WACC = 6.71% (E(1.88b)/V(2.00b) * Re(6.99%) + D(115.2m)/V(2.00b) * Rd(2.78%) * (1-Tc(0.23)))
Discount Rate = 6.99% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 8.01%
[DCF Debug] Terminal Value 76.50% ; FCFF base≈217.8m ; Y1≈143.0m ; Y5≈65.2m
Fair Price DCF = 60.12 (EV 1.66b - Net Debt 12.6m = Equity 1.65b / Shares 27.5m; r=6.71% [WACC]; 5y FCF grow -40.0% → 2.90% )
[DCF Warning] FCF declining rapidly (-40.0%), DCF may be unreliable
EPS Correlation: 10.24 | EPS CAGR: 53.60% | SUE: 4.0 | # QB: 1
Revenue Correlation: 81.01 | Revenue CAGR: 22.74% | SUE: 0.18 | # QB: 0
EPS next Year (2026-12-31): EPS=6.15 | Chg30d=+0.000 | Revisions Net=+2 | Growth EPS=+18.7% | Growth Revenue=+4.7%
P/E Trailing = 16.8428
P/E Forward = 13.0039
P/S = 0.7036
P/B = 4.0841
Revenue TTM = 4.70b EUR
EBIT TTM = 175.0m EUR
EBITDA TTM = 265.1m EUR
Long Term Debt = 9.00m EUR (from longTermDebt, last quarter)
Short Term Debt = 1.00m EUR (from shortLongTermDebt, last quarter)
Debt = 115.2m EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 12.6m EUR (from netDebt column, last fiscal year)
Enterprise Value = 1.92b EUR (1.88b + Debt 115.2m - CCE 78.0m)
Interest Coverage Ratio = 19.63 (Ebit TTM 175.0m / Interest Expense TTM 8.91m)
EV/FCF = 6.32x (Enterprise Value 1.92b / FCF TTM 303.8m)
FCF Yield = 15.82% (FCF TTM 303.8m / Enterprise Value 1.92b)
FCF Margin = 6.46% (FCF TTM 303.8m / Revenue TTM 4.70b)
Net Margin = 3.18% (Net Income TTM 149.7m / Revenue TTM 4.70b)
Gross Margin = 13.34% ((Revenue TTM 4.70b - Cost of Revenue TTM 4.07b) / Revenue TTM)
Gross Margin QoQ = 12.24% (prev 14.05%)
Tobins Q-Ratio = 1.31 (Enterprise Value 1.92b / Total Assets 1.47b)
Interest Expense / Debt = 2.78% (Interest Expense 3.20m / Debt 115.2m)
Taxrate = 23.41% (14.0m / 59.8m)
NOPAT = 134.0m (EBIT 175.0m * (1 - 23.41%))
Current Ratio = 1.06 (Total Current Assets 869.0m / Total Current Liabilities 820.0m)
Debt / Equity = 0.24 (Debt 115.2m / totalStockholderEquity, last quarter 475.0m)
Debt / EBITDA = 0.05 (Net Debt 12.6m / EBITDA 265.1m)
Debt / FCF = 0.04 (Net Debt 12.6m / FCF TTM 303.8m)
Total Stockholder Equity = 432.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 11.81% (Net Income 149.7m / Total Assets 1.47b)
RoE = 34.59% (Net Income TTM 149.7m / Total Stockholder Equity 432.9m)
RoCE = 39.60% (EBIT 175.0m / Capital Employed (Equity 432.9m + L.T.Debt 9.00m))
RoIC = 28.56% (NOPAT 134.0m / Invested Capital 469.3m)
WACC = 6.71% (E(1.88b)/V(2.00b) * Re(6.99%) + D(115.2m)/V(2.00b) * Rd(2.78%) * (1-Tc(0.23)))
Discount Rate = 6.99% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 8.01%
[DCF Debug] Terminal Value 76.50% ; FCFF base≈217.8m ; Y1≈143.0m ; Y5≈65.2m
Fair Price DCF = 60.12 (EV 1.66b - Net Debt 12.6m = Equity 1.65b / Shares 27.5m; r=6.71% [WACC]; 5y FCF grow -40.0% → 2.90% )
[DCF Warning] FCF declining rapidly (-40.0%), DCF may be unreliable
EPS Correlation: 10.24 | EPS CAGR: 53.60% | SUE: 4.0 | # QB: 1
Revenue Correlation: 81.01 | Revenue CAGR: 22.74% | SUE: 0.18 | # QB: 0
EPS next Year (2026-12-31): EPS=6.15 | Chg30d=+0.000 | Revisions Net=+2 | Growth EPS=+18.7% | Growth Revenue=+4.7%