Heijmans N.V. (HEIJM) AI Stock Analysis

• Market Cap: €2.14B
• Dividend Yield: 2.44%
• Average Volume (3M): 97.56K
• Price to Earnings (P/E): 14.3
• Beta (1Y): 1.39
• Revenue Growth: 11.67%
• EPS Growth: 36.03%
• Country: NL
• Employees: 5,650
• Sector: General
• Sector Strength: N/A
• Industry: Engineering & Construction
• EPS (TTM): 2.59
• Shares Outstanding: 27,478,006
• 10 Day Avg. Volume: 78,796
• 30 Day Avg. Volume: 97,561
• PEG Ratio: 0.33
• Price to Book (P/B): 3.39
• Price to Sales (P/S): 0.67
• P/FCF Ratio: 7.91
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €100.00
• Price Target Upside: 41.54% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 5.98
• Revenue Forecast (FY): €3.11B

• Rating: 77 Outperform
• Price Target: €88.00 ▲(24.56% Upside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is driven primarily by strong financial performance (notably improving profitability and strong 2025 free cash flow) and supportive technical momentum with the price above key moving averages. The main offsets are a moderate valuation uplift (P/E ~16.8, ~2.1% yield) and balance-sheet/watch items, including the 2025 debt increase and historical cash flow volatility.

Positive Factors

Cash generation

Strong operating and free cash flow in 2025 provides durable internal funding for working capital, capex and debt reduction. High conversion (~0.84) signals operational efficiency, giving management flexibility to fund development pipelines and absorb project timing swings over months.

Negative Factors

Higher 2025 debt

A material step-up in reported debt raises refinancing and interest-exposure risk if cash generation softens. Even with 2025 debt-to-equity near 0.41, the rapid increase from prior year could constrain financial flexibility and elevate scrutiny on working capital and covenant headroom.

Heijmans N.V. Business Overview & Revenue Model

Company Description

Heijmans N.V. engages in the property development, construction and technical services, and infrastructure businesses in the Netherlands and internationally. The company focuses on the development of large and smaller-scale projects in urban and o...

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Heijmans N.V. engages in the property development, construction and technical services, and infrastructure businesses in the Netherlands and internationally. The company focuses on the development of large and smaller-scale projects in urban and o...

How the Company Makes Money

Heijmans makes money primarily by executing construction and infrastructure contracts and by developing and selling residential real estate. A major revenue stream comes from project-based contracting, where clients (such as municipalities, govern...

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Heijmans makes money primarily by executing construction and infrastructure contracts and by developing and selling residential real estate. A major revenue stream comes from project-based contracting, where clients (such as municipalities, govern...

Heijmans N.V. Financial Statement Overview

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.77B	2.58B	2.12B	1.81B	1.75B
Gross Profit	440.00M	338.40M	288.75M	239.85M	222.11M
EBITDA	227.00M	179.30M	135.30M	117.57M	89.62M
Net Income	130.00M	90.00M	59.73M	59.58M	50.30M
Balance Sheet
Total Assets	1.67B	1.37B	1.34B	1.10B	1.01B
Cash, Cash Equivalents and Short-Term Investments	190.00M	102.60M	37.10M	237.01M	209.57M
Total Debt	223.00M	115.20M	177.20M	86.15M	118.88M
Total Liabilities	1.12B	905.60M	952.00M	785.25M	744.17M
Stockholders Equity	548.00M	463.00M	383.66M	317.02M	267.58M
Cash Flow
Free Cash Flow	235.00M	218.80M	40.49M	86.31M	84.58M
Operating Cash Flow	279.00M	249.20M	84.50M	110.77M	110.16M
Investing Cash Flow	-110.00M	-59.10M	-313.93M	-17.68M	-33.75M
Financing Cash Flow	-85.00M	-125.10M	31.51M	-65.64M	-41.91M

Heijmans N.V. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 70.65
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:HEIJM, the sentiment is Positive. The current price of 70.65 is below the 20-day moving average (MA) of 78.08, below the 50-day MA of 78.72, and above the 200-day MA of 64.76, indicating a neutral trend. The MACD of -0.93 indicates Positive momentum. The RSI at 48.45 is Neutral, neither overbought nor oversold. The STOCH value of 76.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:HEIJM.

Heijmans N.V. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HEIJM	77 Outperform	€2.14B	14.29	25.42%	2.44%	11.67%	36.03%
VPK	75 Outperform	€5.11B	7.24	15.92%	4.27%	-3.32%	15.52%
BAMNB	74 Outperform	€2.45B	11.48	11.89%	2.69%	3.64%	-22.13%
ARCAD	66 Neutral	€2.43B	15.23	14.59%	2.85%	-2.02%	24.14%
AALB	62 Neutral	€3.24B	20.51	6.13%	4.08%	-4.31%	-50.34%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
FUR	55 Neutral	€1.17B	-47.40	-1.54%	8.99%	-7.57%	-51.86%