Obermatt
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Heineken

AEX:HEIA · NL0000009165
BeveragesXX-Large

360

27
EV / EBIT71
Price / Owner Earnings42
Owner Earnings Yield47
Dividend Yield57
Price/Sales62
EV / Gross Profit46
Price/Book60
Return on Capital24
Cash Return on Capital41
Return on Equity41
EBIT Margin30
Gross Profitability14
Cash Conversion91
Accruals49
Owner Earnings Margin34
Sales growth4
Profit Growth96
Long-Term EPS Growth78
Owner Earnings Growth92
Reinvestment39
Price momentum26
Debt load29
Refinancing16
Debt Payback23
Liquidity39
Analyst ratings54
Opinion Changes38
Price Target Upside65
Market mood65
Value Creation8/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Heineken clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryNetherlands
IndustryBeverages
SizeXX-Large
TypePublic Company
ExchangeENXTAM
Founded1864
Employees21,783
Websitetheheinekencompany.com
ISINNL0000009165
Last UpdateApr 2, 2026
Indices
AEX (Netherlands)
Themes
DistilleryBrewingCraft BeerFood and BeverageLifestyle

Description

Heineken N.V. engages in the production, distribution and marketing of beer and cider worldwide. The company is a subsidiary of Heineken Holding N.V. The company operates through Europe, Americas, Africa, Middle East & Eastern Europe, and Asia Pacif…

Analysis

Middle-of-the-road

Heineken N.V. sits in the middle of our grid: average quality, average price, no obvious signal in either direction.

On valuation, the picture is fair. The owner-earnings multiple stands at 24.0×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 9% a year, against analyst forecasts of 11%. The price, in other words, assumes less than the experts do.

Growth is moderate; the safety picture is stretched. The company scores 8/20 on our value-creation score: creating some value. Analyst sentiment is cautious.

Flags to be aware of: The financial cushion is thinner than comfortable. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
32
2023202420252026

All-time high

67

Jan 2023

All-time low

12

Feb 2026

Average rank

40

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
62
38
26
24
Price/Earnings
86
47
37
25
Price/Book
60
41
29
26
Dividend Yield
57
40
37
25
Value (overall)
82
51
39
26

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →