Heijmans N.V. (NL:HEIJM)
:HEIJM
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Heijmans N.V.
(HEIJM)
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Rating:77Outperform
Price Target:
€88.00
▲(24.56% Upside)
Action:ReiteratedDate: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
Heijmans' strong 2025 operating and free cash flows indicate high cash conversion from operations. Durable cash generation supports reinvestment in projects, working-capital cushions for long contracts, debt servicing and potential shareholder distributions, improving financial resilience over months.
Negative Factors
Step-up in debt
A significant rise in total debt in 2025 increases interest and refinancing exposure. If project timing or margins deteriorate, higher debt could constrain flexibility, amplify covenant or liquidity risks, and limit capacity to invest without further leverage over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Heijmans' strong 2025 operating and free cash flows indicate high cash conversion from operations. Durable cash generation supports reinvestment in projects, working-capital cushions for long contracts, debt servicing and potential shareholder distributions, improving financial resilience over months.
Read all positive factors
Heijmans N.V. (HEIJM) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€2.30B
Dividend Yield2.44%
Average Volume (3M)97.56K
Price to Earnings (P/E)14.3
Beta (1Y)1.44
Revenue Growth7.27%
EPS Growth44.67%
CountryNL
Employees5,650
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)2.59
Shares Outstanding27,478,006
10 Day Avg. Volume78,796
30 Day Avg. Volume97,561
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)3.39
Price to Sales (P/S)0.67
P/FCF Ratio7.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€100.00Price Target Upside41.54% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)5.89
Revenue Forecast (FY)€3.11B
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...
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...
Heijmans N.V. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
84
Very Positive
| 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
Positive
70.65
Price Trends
81.50
Positive
74.00
Positive
66.26
Positive
Market Momentum
2.39
Negative
64.95
Neutral
91.00
Negative
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 80.68, below the 50-day MA of 81.50, and above the 200-day MA of 66.26, indicating a bullish trend. The MACD of 2.39 indicates Negative momentum. The RSI at 64.95 is Neutral, neither overbought nor oversold. The STOCH value of 91.00 is Negative, 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | €2.30B | 14.29 | 25.42% | 2.44% | 7.27% | 44.67% | |
75 Outperform | €4.55B | 7.24 | 15.92% | 4.27% | -1.27% | 67.83% | |
74 Outperform | €2.47B | 11.48 | 11.89% | 2.69% | 9.06% | 160.53% | |
66 Neutral | €2.62B | 15.23 | 14.59% | 2.85% | -2.40% | -13.52% | |
62 Neutral | €3.41B | 20.51 | 6.13% | 4.08% | -1.84% | -15.89% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €1.28B | -47.40 | -1.54% | 8.99% | -18.78% | -107.52% |
* General Sector Average
NL:HEIJM
Heijmans N.V.
86.05
40.99
90.97%
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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.