The Return Trends At Heineken (AMS:HEIA) Look Promising
Aug 22
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Dutch (AEX) Market Analysis & Valuation
UpdatedAug 24, 2025
DataAggregated Company Financials
Companies99
- 7D1.5%
- 3M0.4%
- 1Y-0.2%
- YTD5.2%
The market is up 1.5% in the last 7 days, led by the Financials and all sectors gaining ground. In the last 12 months, the market has been flat. As for the next few years, earnings are expected to grow by 8.5% per annum.
Market Valuation and Performance
Has the Dutch Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 24 Aug 2025 | €1.0t | €549.0b | €66.7b | 16.5x | 15.4x | 1.9x |
| Tue, 22 Jul 2025 | €1.0t | €544.0b | €62.7b | 19x | 16.4x | 1.9x |
| Thu, 19 Jun 2025 | €1.0t | €543.6b | €58.3b | 18.3x | 17.6x | 1.9x |
| Sat, 17 May 2025 | €1.0t | €545.0b | €58.6b | 18.8x | 17.8x | 1.9x |
| Mon, 14 Apr 2025 | €903.9b | €541.2b | €57.1b | 16x | 15.8x | 1.7x |
| Wed, 12 Mar 2025 | €1.0t | €561.2b | €58.2b | 18.3x | 17.2x | 1.8x |
| Fri, 07 Feb 2025 | €1.0t | €568.1b | €52.6b | 17.2x | 19.6x | 1.8x |
| Sun, 05 Jan 2025 | €988.6b | €563.6b | €51.7b | 16.3x | 19.1x | 1.8x |
| Tue, 03 Dec 2024 | €987.5b | €561.9b | €50.6b | 16.8x | 19.5x | 1.8x |
| Thu, 31 Oct 2024 | €979.9b | €562.7b | €52.8b | 17.7x | 18.5x | 1.7x |
| Sat, 28 Sep 2024 | €1.1t | €560.3b | €52.6b | 17.7x | 20.1x | 1.9x |
| Mon, 26 Aug 2024 | €1.0t | €566.1b | €40.0b | 15.7x | 26.2x | 1.9x |
| Wed, 24 Jul 2024 | €1.1t | €560.3b | €40.8b | 16.3x | 26x | 1.9x |
| Fri, 21 Jun 2024 | €1.1t | €562.5b | €44.6b | 17.4x | 25.4x | 2x |
| Sun, 19 May 2024 | €1.1t | €561.3b | €44.5b | 18.9x | 24.8x | 2x |
| Tue, 16 Apr 2024 | €1.0t | €567.5b | €46.0b | 17.1x | 22.8x | 1.8x |
| Thu, 14 Mar 2024 | €1.0t | €562.2b | €45.5b | 16.8x | 22.3x | 1.8x |
| Sat, 10 Feb 2024 | €1.0t | €568.0b | €49.5b | 16.3x | 20.4x | 1.8x |
| Mon, 08 Jan 2024 | €893.0b | €590.4b | €60.1b | 16.2x | 14.8x | 1.5x |
| Wed, 06 Dec 2023 | €888.8b | €598.1b | €60.5b | 15.5x | 14.7x | 1.5x |
| Fri, 03 Nov 2023 | €826.9b | €593.8b | €53.7b | 15.7x | 15.4x | 1.4x |
| Sun, 01 Oct 2023 | €824.1b | €592.7b | €50.4b | 16.8x | 16.4x | 1.4x |
| Tue, 29 Aug 2023 | €905.9b | €573.6b | €46.6b | 17.3x | 19.4x | 1.6x |
| Thu, 27 Jul 2023 | €945.4b | €583.3b | €52.0b | 17.2x | 18.2x | 1.6x |
| Sat, 24 Jun 2023 | €891.2b | €583.9b | €48.1b | 16.8x | 18.5x | 1.5x |
| Mon, 22 May 2023 | €913.7b | €576.2b | €47.7b | 17.1x | 19.2x | 1.6x |
| Wed, 19 Apr 2023 | €891.9b | €567.1b | €47.4b | 16.9x | 18.8x | 1.6x |
| Fri, 17 Mar 2023 | €869.2b | €567.6b | €51.0b | 15.7x | 17x | 1.5x |
| Sun, 12 Feb 2023 | €902.0b | €543.1b | €50.2b | 15.1x | 18x | 1.7x |
| Tue, 10 Jan 2023 | €886.4b | €541.6b | €54.0b | 14.8x | 16.4x | 1.6x |
| Thu, 08 Dec 2022 | €854.1b | €544.7b | €54.6b | 14.7x | 15.6x | 1.6x |
| Sat, 05 Nov 2022 | €774.6b | €546.2b | €72.4b | 12.8x | 10.7x | 1.4x |
| Mon, 03 Oct 2022 | €740.5b | €513.2b | €73.9b | 12.3x | 10x | 1.4x |
| Wed, 31 Aug 2022 | €814.3b | €513.7b | €73.5b | 13.5x | 11.1x | 1.6x |
Price to Earnings Ratio
11.1x
Current Market PE
- Investors are pessimistic on the Dutch market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 15.4x which is lower than its 3-year average PE of 18.3x.
Past Earnings Growth
- The earnings for Dutch listed companies have declined 3.2% per year over the last three years.
- Meanwhile revenues for these companies have grown 2.2% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Sector Trends
Which sectors have driven the changes within the Dutch Market?
| NL Market | 1.46% | |
| Real Estate | 3.02% | |
| Healthcare | 2.90% | |
| Energy | 2.80% | |
| Consumer Staples | 1.92% | |
| Industrials | 1.69% | |
| Materials | 1.54% | |
| Financials | 1.50% | |
| Tech | 1.26% | |
| Telecom | 0.96% | |
| Consumer Discretionary | 0.93% | |
| Utilities | 0% | 0 |
Sector PE
- Investors favour the Tech sector the most for future growth even though it's trading below its 3-year average PE ratio of 39.1x.
- Analysts are expecting annual earnings growth of 11.0%, which is lower than the prior year's growth of 23.0% per year.
Forecasted Growth
- Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 34% over the next 5 years.
- In contrast, the Telecom sector is expected to see its earnings decline by 2.8% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| ASML ASML Holding | €646.20 | 1.5% +€3.7b | -21.1% | PE26.6x | Tech | |
| ADYEN Adyen | €1.47k | 5.6% +€2.5b | 11.2% | PE46.6x | Financials | |
| HEIA Heineken | €70.86 | 3.7% +€1.4b | -11.2% | PE21.8x | Consumer Staples | |
| PRX Prosus | €53.61 | 0.9% +€989.7m | 60.4% | PE11.2x | Consumer Discretionary | |
| AKZA Akzo Nobel | €60.92 | 7.9% +€759.4m | 8.4% | PE25.1x | Materials |
