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Heineken Holding NV
(HEIO)
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Rating:58Neutral
Price Target:
€63.00
▲(2.19% Upside)
Action:Downgraded
Date:02/18/26
The score is driven primarily by middling financial performance: strong cash flow and operating profitability are offset by recent revenue softness, volatile/weaker net income, and a leveraged balance sheet. Technicals are bullish but appear overbought, while valuation is neutral with only moderate dividend support.
Positive Factors
Cash generation
Consistent positive operating and free cash flow provides a durable funding source for holding-level dividends and liabilities. Sustained multi-year cash generation supports capital allocation, deleveraging potential, and resilience through industry cycles, underpinning long-term financial flexibility.
Negative Factors
High leverage
A debt-heavy capital structure materially reduces financial flexibility and increases sensitivity to earnings shocks. If operating profits or dividends from Heineken N.V. weaken, servicing high leverage could force cutbacks to payouts, constrain strategic investments, or require refinancing at higher cost.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent positive operating and free cash flow provides a durable funding source for holding-level dividends and liabilities. Sustained multi-year cash generation supports capital allocation, deleveraging potential, and resilience through industry cycles, underpinning long-term financial flexibility.
Read all positive factors
Heineken Holding NV (HEIO) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€19.22B
Dividend Yield3.13%
Average Volume (3M)198.07K
Price to Earnings (P/E)23.7
Beta (1Y)0.78
Revenue Growth-3.58%
EPS Growth91.80%
CountryNL
Employees87,870
SectorGeneral
Sector StrengthN/A
IndustryBeverages - Alcoholic
Share Statistics
EPS (TTM)2.93
Shares Outstanding282,743,600
10 Day Avg. Volume200,503
30 Day Avg. Volume198,075
Financial Highlights & Ratios
PEG Ratio0.20
Price to Book (P/B)2.03
Price to Sales (P/S)0.61
P/FCF Ratio6.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)5.71
Revenue Forecast (FY)€31.21B
Heineken Holding NV Business Overview & Revenue Model
Company Description
Operating through its diverse subsidiaries, Heineken Holding N.V. focuses on the global production and sale of both beer and cider. Its vast portfolio encompasses nearly 300 distinct brands, ranging from internationally recognized names to regiona...
How the Company Makes Money
Heineken Holding N.V. does not typically generate operating revenue from producing or selling beverages itself; instead, it functions as a holding vehicle. It makes money primarily through income and value derived from its equity stake in Heineken...
Heineken Holding NV Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
45
Neutral
Cash Flow
60
Neutral
| 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 | 10.10B | 8.41B |
| EBITDA | 6.22B | 5.29B | 5.82B | 6.67B | 6.38B |
| Net Income | 952.00M | 498.00M | 1.17B | 3.04B | 3.54B |
Balance Sheet | |||||
| Total Assets | 53.47B | 54.77B | 54.76B | 52.41B | 48.85B |
| Cash, Cash Equivalents and Short-Term Investments | 4.82B | 2.35B | 2.38B | 2.77B | 3.25B |
| Total Debt | 20.45B | 17.36B | 18.24B | 16.38B | 16.87B |
| Total Liabilities | 33.14B | 32.67B | 32.36B | 30.49B | 29.15B |
| Stockholders Equity | 8.63B | 9.55B | 9.73B | 9.69B | 8.59B |
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 | -2.28B |
| Financing Cash Flow | 196.00M | -2.57B | -816.00M | -3.13B | -2.88B |
Heineken Holding NV Technical Analysis
Positive
61.65
Price Trends
64.01
Positive
63.60
Positive
62.04
Positive
Market Momentum
1.58
Negative
65.19
Neutral
69.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:HEIO, the sentiment is Positive. The current price of 61.65 is below the 20-day moving average (MA) of 67.19, below the 50-day MA of 64.01, and below the 200-day MA of 62.04, indicating a bullish trend. The MACD of 1.58 indicates Negative momentum. The RSI at 65.19 is Neutral, neither overbought nor oversold. The STOCH value of 69.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:HEIO.
Heineken Holding NV Peers Comparison
UnderperformOutperform
Sector (55)
NL:HEIO
Heineken Holding NV
69.50
7.32
11.77%
NL:HEIA
Heineken NV
76.02
2.71
3.70%
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.