HEI Stock Analysis: Heidelberg Materials | XETRA
Building Materials | XETRA, Germany | Market Cap: 24.920m EUR | 12M Return: -24.6% | DE0006047004 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 75.4M
EPS Trend: 90.9%
Qual. Beats: 0
Rev. Trend: -43.3%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 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.
Heidelberg Materials AG is a Germany-headquartered, globally operating producer and distributor of building materials, with a vertically integrated portfolio spanning cement, aggregates, ready-mixed concrete, and asphalt. Its products are used across infrastructure (tunnels, bridges) and building (offices, schools) projects, as well as in precast components such as stairs, ceiling elements, and structural parts. The company also trades cement, clinker, secondary cementitious materials, alternative fuels, and additives.
Founded in 1873 and listed on XETRA under the ticker HEI, the firm was renamed from HeidelbergCement AG to Heidelberg Materials AG in May 2023. It sits within the GICS Materials sector and the Construction Materials sub-industry, where vertical integration across the cement-aggregates-concrete value chain is a common business model used to manage raw material costs and secure supply for downstream construction activity.
- US infrastructure spending lifts cement and aggregates volumes
- EU carbon emission costs pressure cement margins
- Pricing actions offset rising energy and input costs
| Net Income: 1.94b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -0.58 > 1.0 |
| NWC/Revenue: 7.62% < 20% (prev 9.16%; Δ -1.54% < -1%) |
| CFO/TA 0.09 > 3% & CFO 3.18b > Net Income 1.94b |
| Net Debt (6.68b) to EBITDA (4.12b): 1.62 < 3 |
| Current Ratio: 1.24 > 1.5 & < 3 |
| Outstanding Shares: last quarter (177.0m) vs 12m ago -1.21% < -2% |
| Gross Margin: 64.18% > 18% (prev 63.79%; Δ 0.40% > 0.5%) |
| Asset Turnover: 58.69% > 50% (prev 56.84%; Δ 1.85% > 0%) |
| Interest Coverage Ratio: 11.25 > 6 (EBIT TTM 3.08b / Interest Expense TTM 273.5m) |
| A: 0.05 (Total Current Assets 8.60b - Total Current Liabilities 6.96b) / Total Assets 36.1b |
| B: 0.38 (Retained Earnings 13.8b / Total Assets 36.1b) |
| C: 0.08 (EBIT TTM 3.08b / Avg Total Assets 36.7b) |
| D: 1.08 (Book Value of Equity 18.2b / Total Liabilities 16.8b) |
| Altman-Z'' = 3.24 = A |
| DSRI: 1.01 (Receivables 2.53b/2.46b, Revenue 21.6b/21.2b) |
| GMI: 0.99 (GM 63.79% / 64.18%) |
| AQI: 0.91 (AQ_t 0.36 / AQ_t-1 0.39) |
| SGI: 1.02 (Revenue 21.6b / 21.2b) |
| TATA: -0.03 (NI 1.94b - CFO 3.18b) / TA 36.1b) |
| Beneish M = -3.07 (Cap -4..+1) = AA |
As of October 09, 2026, the stock is trading at EUR 139.80 with a total of 450,388 shares traded. Over the past week, the price has changed by -4.05%, over one month by -13.68%, over three months by -15.73% and over the past year by -24.55%.
Current recommended Stop Loss: 133.80 (which is 4.3% or 1.3 ATR below the current price).
Heidelberg Materials has no consensus analysts rating.
P/E Trailing = 12.3368
P/E Forward = 9.9206
P/S = 1.1466
P/B = 1.3723
P/EG = 1.3009
Revenue TTM = 21.6b EUR
EBIT TTM = 3.08b EUR
EBITDA TTM = 4.12b EUR
Long Term Debt = 5.71b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.43b EUR (from shortTermDebt, last quarter)
Debt = 9.30b EUR (from shortLongTermDebtTotal, last quarter) + Leases 1.19b
Net Debt = 6.68b EUR (calculated: Debt 9.30b - CCE 2.63b)
Enterprise Value = 31.6b EUR (24.9b + Debt 9.30b - CCE 2.63b)
Interest Coverage Ratio = 11.25 (Ebit TTM 3.08b / Interest Expense TTM 273.5m)
EV/FCF = 18.59x (Enterprise Value 31.6b / FCF TTM 1.70b)
FCF Yield = 5.38% (FCF TTM 1.70b / Enterprise Value 31.6b)
FCF Margin = 7.88% (FCF TTM 1.70b / Revenue TTM 21.6b)
Net Margin = 9.01% (Net Income TTM 1.94b / Revenue TTM 21.6b)
Gross Margin = 64.18% ((Revenue TTM 21.6b - Cost of Revenue TTM 7.72b) / Revenue TTM)
Gross Margin QoQ = 65.49% (prev 65.49%)
Tobins Q-Ratio = 0.87 (Enterprise Value 31.6b / Total Assets 36.1b)
Interest Expense / Debt = 2.94% (Interest Expense 273.5m / Debt 9.30b)
Taxrate = 25.67% (750.7m / 2.92b)
NOPAT = 2.29b (EBIT 3.08b * (1 - 25.67%))
Current Ratio = 1.24 (Total Current Assets 8.60b / Total Current Liabilities 6.96b)
Debt / Equity = 0.51 (Debt 9.30b / totalStockholderEquity, last quarter 18.2b)
Debt / EBITDA = 1.62 (Net Debt 6.68b / EBITDA 4.12b)
Debt / FCF = 3.93 (Net Debt 6.68b / FCF TTM 1.70b)
Total Stockholder Equity = 17.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.29% (Net Income 1.94b / Total Assets 36.1b)
RoE = 10.87% (Net Income TTM 1.94b / Total Stockholder Equity 17.8b)
RoCE = 13.06% (EBIT 3.08b / Capital Employed (Equity 17.8b + L.T.Debt 5.71b))
RoIC = 7.75% (NOPAT 2.29b / Invested Capital 29.5b)
WACC = 6.40% (E(24.9b)/V(34.2b) * Re(7.97%) + D(9.30b)/V(34.2b) * Rd(2.94%) * (1-Tc(0.26)))
Discount Rate = 7.97% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -96.65 | Cagr: -1.68%
[DCF] Terminal Value 73.34% ; FCFF base≈1.81b ; Y1≈1.61b ; Y5≈1.33b
[DCF] Fair Price = 83.12 (EV 21.3b - Net Debt 6.68b = Equity 14.6b / Shares 175.8m; r=8.35% [WACC [floored]]; 5y FCF grow -13.68% → 2.50% )
EPS Correlation: 90.91 | EPS CAGR: 22.00% | SUE: -0.75 | # QB: 0
Revenue Correlation: -43.32 | Revenue CAGR: -2.98% | SUE: -0.57 | # QB: 0
EPS current Quarter (2026-06-30): EPS=3.67 | Chg30d=-3.67% | Revisions=-25% | Analysts=1
EPS next Quarter (2026-09-30): EPS=4.09 | Chg30d=-2.39% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=13.06 | Chg30d=+0.11% | Revisions=-50% | GrowthEPS=+8.6% | GrowthRev=+3.9%
EPS next Year (2027-12-31): EPS=14.42 | Chg30d=-0.81% | Revisions=-36% | GrowthEPS=+10.4% | GrowthRev=+5.9%
[Analyst] Revisions Ratio: -45% (up=4, down=13)