HEI Stock Analysis: Heidelberg Materials | XETRA
Building Materials | XETRA, Germany | Market Cap: 30.723m EUR | 12M Return: -17.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 73.0M
EPS Trend: 90.9%
Qual. Beats: 0
Rev. Trend: -43.3%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 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 German-headquartered, globally operating producer of building materials and a constituent of the GICS Materials sector, specifically the Construction Materials sub-industry. Its core product portfolio spans cement, aggregates (sand, gravel, and crushed stone), ready-mixed concrete, and asphalt, which are key inputs for infrastructure and commercial construction projects such as tunnels, bridges, offices, and schools, as well as for precast components like stairs and structural elements. Beyond manufacturing, the company also trades in clinker, secondary cementitious materials, alternative fuels, and additives, giving it a vertically integrated position across the cement and concrete value chain. Founded in 1873 and listed on XETRA under the ticker HEI, the company rebranded from HeidelbergCement AG to its current name in May 2023.
- US infrastructure spending lifts aggregates and ready-mixed concrete volumes
- EU carbon regulations escalate cement production costs and compliance capex
- Energy input costs decline, supporting European cement margin recovery
| Net Income: 1.94b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -0.08 > 1.0 |
| NWC/Revenue: 7.62% < 20% (prev 9.16%; Δ -1.54% < -1%) |
| CFO/TA 0.14 > 3% & CFO 4.96b > 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: -0.08 (NI 1.94b - CFO 4.96b) / TA 36.1b) |
| Beneish M = -3.07 (Cap -4..+1) = AA |
As of July 10, 2026, the stock is trading at EUR 166.45 with a total of 323,545 shares traded. Over the past week, the price has changed by -3.48%, over one month by -4.64%, over three months by -7.85% and over the past year by -17.14%.
Current recommended Stop Loss: 157.80 (which is 5.2% or 1.3 ATR below the current price).
Heidelberg Materials has no consensus analysts rating.
P/E Trailing = 15.5953
P/E Forward = 13.459
P/S = 1.4255
P/B = 1.7074
P/EG = 1.8687
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 = 37.4b EUR (30.7b + Debt 9.30b - CCE 2.63b)
Interest Coverage Ratio = 11.25 (Ebit TTM 3.08b / Interest Expense TTM 273.5m)
EV/FCF = 19.79x (Enterprise Value 37.4b / FCF TTM 1.89b)
FCF Yield = 5.05% (FCF TTM 1.89b / Enterprise Value 37.4b)
FCF Margin = 8.77% (FCF TTM 1.89b / 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 = 1.03 (Enterprise Value 37.4b / 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 = 3.53 (Net Debt 6.68b / FCF TTM 1.89b)
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 = 7.06% (E(30.7b)/V(40.0b) * Re(8.53%) + D(9.30b)/V(40.0b) * Rd(2.94%) * (1-Tc(0.26)))
Discount Rate = 8.53% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -94.28 | Cagr: -1.68%
[DCF] Terminal Value 74.81% ; FCFF base≈1.93b ; Y1≈1.86b ; Y5≈1.82b
[DCF] Fair Price = 124.4 (EV 28.6b - Net Debt 6.68b = Equity 21.9b / Shares 176.4m; r=8.35% [WACC [floored]]; 5y FCF grow -4.53% → 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=4.15 | Chg30d=+1.47% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=13.15 | Chg30d=-1.58% | Revisions=+0% | GrowthEPS=+9.4% | GrowthRev=+3.1%
EPS next Year (2027-12-31): EPS=14.62 | Chg30d=-2.20% | Revisions=+12% | GrowthEPS=+11.1% | GrowthRev=+6.0%
[Analyst] Revisions Ratio: +7% (up=6, down=5)