Heineken NV (HEINY)
OTHER OTC:HEINY
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Heineken
(OTC:HEINY)
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Rating:59Neutral
Price Target:
$43.00
â–²(7.58% Upside)
Action:ReiteratedDate:03/13/26
The score is driven mainly by solid (but not peak) financial performance—stable revenue with lower-than-prior margins, rising leverage, and steady but slightly softer free cash flow—offset by weak technical momentum (below major moving averages with negative MACD and low RSI/Stoch). Valuation is neutral, with a moderate P/E and a modest dividend yield.
Positive Factors
Brand & distribution scale
Heineken's global brand portfolio and deep route-to-market relationships (retail, on-trade, logistics partners) create durable shelf and tap advantages. This structural distribution strength supports premiumization, pricing power and steady volume recovery across cycles, sustaining long-term revenue resilience.
Negative Factors
Rising leverage
Leverage rising to roughly parity with equity reduces financial flexibility and heightens interest cost risk. In a capital-intensive, cyclical beverage industry this constrains capacity for M&A, marketing or capex during downturns and increases vulnerability if operating cash flow weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Brand & distribution scale
Heineken's global brand portfolio and deep route-to-market relationships (retail, on-trade, logistics partners) create durable shelf and tap advantages. This structural distribution strength supports premiumization, pricing power and steady volume recovery across cycles, sustaining long-term revenue resilience.
Read all positive factors
Heineken (HEINY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$44.12B
Dividend Yield2.04%
Average Volume (3M)9.21K
Price to Earnings (P/E)8.6
Beta (1Y)0.43
Revenue Growth-4.32%
EPS Growth74.30%
CountryUS
Employees89,264
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Alcoholic
Share Statistics
EPS (TTM)1.60
Shares Outstanding1,152,005,200
10 Day Avg. Volume0
30 Day Avg. Volume9,215
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)2.15
Price to Sales (P/S)1.34
P/FCF Ratio14.82
Enterprise Value/Market Cap1.21
Enterprise Value/Revenue1.87
Enterprise Value/Gross Profit7.86
Enterprise Value/Ebitda9.14
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.05
Revenue Forecast (FY)$35.95B
Heineken Business Overview & Revenue Model
Company Description
Heineken N.V. engages in the brewing and selling of beer and cider. It also provides soft drinks and water. It offers its beers under the Heineken, Amstel, Desperados, Sol, Tiger, Birra Moretti, Affligem, Lagunitas, and Mort Subite brands, as well...
How the Company Makes Money
Heineken makes money primarily by selling beer and other alcoholic beverages to distributors, retailers, and on-trade outlets. Revenue is generated from (1) packaged product sales through off-trade channels such as supermarkets, convenience stores...
Heineken Earnings Call Summary
Earnings Call Date:Jul 28, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Aug 03, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a resilient performance with strong profit growth and positive momentum in key markets like APAC and AME. However, challenges such as volume declines, currency impacts, and operational issues in Europe weigh on the overall outlook. Strategic initiatives and sustainability progress provide a positive long-term outlook.Positive Updates
Strong Profit Growth
Operating profit (beia) grew by 7.4%, with a margin increase of 26 basis points to 14.3%. Net profit (beia) increased by 7.5% organically.
Negative Updates
Decline in Beer Volume
Total beer volume was down by 1.2%, with Europe experiencing a 4.7% decline due to prolonged retail negotiations.
Read all updates
Q2-2025 Updates
Positive
Negative
Strong Profit Growth
Operating profit (beia) grew by 7.4%, with a margin increase of 26 basis points to 14.3%. Net profit (beia) increased by 7.5% organically.
Read all positive updates
Company Guidance
In the 2025 half-year results call, Heineken reiterated its robust profit growth, despite facing macroeconomic challenges. The company reported a 7.4% increase in operating profit (beia) and a 2.1% organic growth in net revenue (beia) to €14.2 billion. Volume growth was slightly negative at -1.2%, but net revenue per liter (beia) improved by 3.3%. The Heineken brand showed a 4.5% volume growth, while operating margin increased by 26 basis points to 14.3%. Notably, Africa and the Middle East contributed significantly with a 19.8% organic net revenue rise and over 50% growth in operating profit (beia) in euros. The guidance for the full-year operating profit (beia) remains at an organic growth range of 4% to 8%.Heineken Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
62
Positive
Cash Flow
68
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 28.75B | 29.82B | 30.36B | 28.72B | 21.94B |
| Gross Profit | 10.29B | 10.51B | 10.70B | 11.36B | 8.57B |
| EBITDA | 5.80B | 5.29B | 5.15B | 6.41B | 6.39B |
| Net Income | 1.89B | 978.00M | 2.30B | 2.68B | 3.32B |
Balance Sheet | |||||
| Total Assets | 53.75B | 53.77B | 55.15B | 53.42B | 49.82B |
| Cash, Cash Equivalents and Short-Term Investments | 4.77B | 2.35B | 2.38B | 2.77B | 3.25B |
| Total Debt | 19.28B | 17.05B | 18.24B | 16.38B | 16.87B |
| Total Liabilities | 33.14B | 31.37B | 32.36B | 31.50B | 30.12B |
| Stockholders Equity | 17.98B | 19.58B | 20.06B | 19.55B | 17.36B |
Cash Flow | |||||
| Free Cash Flow | 2.61B | 3.04B | 1.75B | 2.48B | 2.58B |
| Operating Cash Flow | 5.01B | 5.50B | 4.43B | 4.50B | 4.18B |
| Investing Cash Flow | -2.46B | -2.44B | -3.58B | -2.29B | -2.29B |
| Financing Cash Flow | 153.00M | -2.57B | -816.00M | -3.13B | -2.87B |
Heineken Technical Analysis
Negative
39.97
Price Trends
41.93
Negative
41.10
Negative
40.90
Negative
Market Momentum
-1.13
Negative
41.92
Neutral
83.34
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HEINY, the sentiment is Negative. The current price of 39.97 is above the 20-day moving average (MA) of 39.38, below the 50-day MA of 41.93, and below the 200-day MA of 40.90, indicating a bearish trend. The MACD of -1.13 indicates Negative momentum. The RSI at 41.92 is Neutral, neither overbought nor oversold. The STOCH value of 83.34 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HEINY.
Heineken Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $46.69B | 13.63 | 16.90% | 8.22% | -0.68% | 4.29% | |
70 Outperform | $22.79B | 35.40 | 7.60% | 4.33% | 1.44% | -38.87% | |
68 Neutral | $140.75B | 18.53 | 8.17% | 1.83% | -2.06% | 21.03% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
59 Neutral | $44.12B | 8.59 | 8.48% | 2.04% | -4.32% | 74.30% | |
53 Neutral | $2.20B | 19.13 | 7.86% | 2.53% | 16.59% | 1.72% | |
49 Neutral | $8.71B | -4.26 | -18.18% | 4.08% | -4.01% | -339.22% |
* Consumer Defensive Sector Average
HEINY
Heineken
39.07
-0.46
-1.16%
BUD
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71.30
11.28
18.79%
CCU
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11.73
-2.71
-18.75%
FMX
Fomento Economico Mexicano
114.74
24.59
27.28%
TAP
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44.04
-14.76
-25.10%
ABEV
Ambev SA
2.93
0.78
36.34%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.