Heineken NV (NL:HEIA)
:HEIA
Want to see NL:HEIA full AI Analyst Report?
Top Page
Heineken NV
(HEIA)
Select Model
Select Model
Rating:63Neutral
Price Target:
€69.00
▲(0.52% Upside)
Action:DowngradedDate:02/18/26
The score is primarily supported by durable cash generation and a strong uptrend in the share price versus key moving averages. Offsetting these positives are material recent margin compression, meaningful leverage with reduced equity in 2025, and a valuation that is not especially cheap at a 23.1 P/E despite a moderate 2.45% dividend yield.
Positive Factors
Durable cash generation
Consistent operating cash flow and repeatedly positive free cash flow provide structural funding for dividends, capex and debt repayment. Over a multi‑year horizon this durable cash generation cushions earnings volatility and preserves strategic optionality for reinvestment or deleveraging.
Negative Factors
Margin compression
Substantial erosion in net margins indicates persistent pressure on earnings conversion from costs, pricing or mix. If margins remain compressed, long‑term returns on capital and cash available for shareholders and debt reduction will be structurally weaker, limiting financial resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Durable cash generation
Consistent operating cash flow and repeatedly positive free cash flow provide structural funding for dividends, capex and debt repayment. Over a multi‑year horizon this durable cash generation cushions earnings volatility and preserves strategic optionality for reinvestment or deleveraging.
Read all positive factors
Heineken NV (HEIA) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€36.02B
Dividend Yield2.8%
Average Volume (3M)882.48K
Price to Earnings (P/E)8.6
Beta (1Y)0.74
Revenue Growth-3.58%
EPS Growth94.66%
CountryNL
Employees89,264
SectorGeneral
Sector StrengthN/A
IndustryBeverages - Alcoholic
Share Statistics
EPS (TTM)2.70
Shares Outstanding565,430,400
10 Day Avg. Volume976,406
30 Day Avg. Volume882,477
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)2.16
Price to Sales (P/S)1.35
P/FCF Ratio14.88
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€90.22Price Target Upside31.44% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)5.24
Revenue Forecast (FY)€30.76B
Heineken NV 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 brewing and selling alcoholic and non-alcoholic beverages, with revenue largely generated from the sale of beer under its portfolio of brands. Its core revenue stream is net revenue from selling finished products ...
Heineken NV Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
58
Neutral
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 28.75B | 29.82B | 30.36B | 28.72B | 22.14B |
| Gross Profit | 10.29B | 10.51B | 10.70B | 11.36B | 8.57B |
| EBITDA | 6.25B | 5.29B | 5.15B | 6.41B | 6.39B |
| Net Income | 1.89B | 978.00M | 2.30B | 2.68B | 3.32B |
Balance Sheet | |||||
| Total Assets | 54.96B | 55.07B | 56.39B | 53.42B | 49.82B |
| Cash, Cash Equivalents and Short-Term Investments | 4.77B | 2.35B | 2.38B | 2.77B | 3.25B |
| Total Debt | 20.45B | 17.36B | 18.24B | 16.38B | 16.87B |
| Total Liabilities | 34.34B | 32.67B | 33.60B | 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 | -2.68B | -2.29B |
| Financing Cash Flow | 153.00M | -2.57B | -816.00M | -2.74B | -2.87B |
Heineken NV Technical Analysis
Neutral
68.64
Price Trends
71.60
Negative
70.25
Negative
69.75
Negative
Market Momentum
-0.67
Negative
50.32
Neutral
36.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:HEIA, the sentiment is Neutral. The current price of 68.64 is above the 20-day moving average (MA) of 67.06, below the 50-day MA of 71.60, and below the 200-day MA of 69.75, indicating a neutral trend. The MACD of -0.67 indicates Negative momentum. The RSI at 50.32 is Neutral, neither overbought nor oversold. The STOCH value of 36.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NL:HEIA.
Heineken NV Peers Comparison
UnderperformOutperform
Sector (55)
NL:HEIA
Heineken NV
64.92
-11.62
-15.18%
NL:HEIO
Heineken Holding NV
59.30
-7.18
-10.80%
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.