Return Trends At Heineken (AMS:HEIA) Aren't Appealing
Jun 11
Dutch (AEX) Market Analysis & Valuation
UpdatedJun 15, 2024
DataAggregated Company Financials
Companies101
- 7D-1.3%
- 3M6.8%
- 1Y18.7%
- YTD18.4%
Over the last 7 days, the market has dropped 1.3%, driven by a loss of 3.8% in the Financials sector. As for the longer term, the market has actually risen by 19% in the last year. As for the next few years, earnings are expected to grow by 16% 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 |
|---|---|---|---|---|---|---|
| Sat, 15 Jun 2024 | €1.1t | €562.5b | €44.6b | 17.6x | 24.9x | 2x |
| Mon, 13 May 2024 | €1.1t | €561.8b | €44.3b | 18.7x | 24.5x | 1.9x |
| Wed, 10 Apr 2024 | €1.0t | €565.6b | €45.2b | 16.8x | 23.1x | 1.8x |
| Fri, 08 Mar 2024 | €1.0t | €566.6b | €48.7b | 16.8x | 21.4x | 1.8x |
| Sun, 04 Feb 2024 | €973.4b | €579.8b | €52.7b | 16.2x | 18.5x | 1.7x |
| Tue, 02 Jan 2024 | €917.1b | €594.0b | €60.0b | 16.8x | 15.3x | 1.5x |
| Thu, 30 Nov 2023 | €874.4b | €596.5b | €59.2b | 15.6x | 14.8x | 1.5x |
| Sat, 28 Oct 2023 | €796.9b | €592.6b | €52.8b | 15.6x | 15.1x | 1.3x |
| Mon, 25 Sep 2023 | €825.9b | €592.0b | €50.3b | 16.7x | 16.4x | 1.4x |
| Wed, 23 Aug 2023 | €868.2b | €573.2b | €46.7b | 16.3x | 18.6x | 1.5x |
| Fri, 21 Jul 2023 | €914.5b | €580.5b | €51.5b | 17.1x | 17.7x | 1.6x |
| Sun, 18 Jun 2023 | €921.0b | €585.4b | €48.2b | 17x | 19.1x | 1.6x |
| Tue, 16 May 2023 | €888.0b | €574.1b | €47.6b | 17.3x | 18.7x | 1.5x |
| Thu, 13 Apr 2023 | €888.2b | €566.8b | €47.4b | 16.5x | 18.7x | 1.6x |
| Sat, 11 Mar 2023 | €877.5b | €546.3b | €43.7b | 15.7x | 20.1x | 1.6x |
| Mon, 06 Feb 2023 | €934.1b | €543.3b | €53.7b | 15.2x | 17.4x | 1.7x |
| Wed, 04 Jan 2023 | €836.6b | €543.5b | €54.4b | 14.8x | 15.4x | 1.5x |
| Fri, 02 Dec 2022 | €871.4b | €544.6b | €54.6b | 14.9x | 16x | 1.6x |
| Sun, 30 Oct 2022 | €758.6b | €511.7b | €77.7b | 13.5x | 9.8x | 1.5x |
| Tue, 27 Sep 2022 | €747.6b | €515.1b | €74.6b | 12.4x | 10x | 1.5x |
| Thu, 25 Aug 2022 | €849.2b | €509.9b | €73.5b | 14.1x | 11.6x | 1.7x |
| Sat, 23 Jul 2022 | €868.6b | €519.4b | €75.6b | 15.6x | 11.5x | 1.7x |
| Mon, 20 Jun 2022 | €854.4b | €515.3b | €76.3b | 14.4x | 11.2x | 1.7x |
| Wed, 18 May 2022 | €907.9b | €514.4b | €75.5b | 15.7x | 12x | 1.8x |
| Fri, 15 Apr 2022 | €949.7b | €520.1b | €74.1b | 16.6x | 12.8x | 1.8x |
| Sun, 13 Mar 2022 | €1.1t | €716.7b | €73.6b | 16.4x | 14.9x | 1.5x |
| Tue, 08 Feb 2022 | €1.4t | €931.3b | €77.2b | 19.9x | 18.3x | 1.5x |
| Thu, 06 Jan 2022 | €1.3t | €701.6b | €59.5b | 21.6x | 22.1x | 1.9x |
| Sat, 04 Dec 2021 | €1.3t | €704.9b | €59.6b | 20.8x | 21.9x | 1.9x |
| Mon, 01 Nov 2021 | €1.4t | €693.3b | €41.8b | 22.1x | 33.1x | 2x |
| Wed, 29 Sep 2021 | €1.3t | €667.1b | €40.5b | 21.4x | 33.2x | 2x |
| Fri, 27 Aug 2021 | €1.3t | €663.5b | €40.3b | 22.9x | 32.6x | 2x |
| Sat, 03 Jul 2021 | €1.1t | €663.2b | €40.2b | 21.6x | 28x | 1.7x |
Price to Earnings Ratio
28x
Current Market PE
- Investors are optimistic on the Dutch market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 24.9x which is higher than its 3-year average PE of 18.6x.
Past Earnings Growth
- The earnings for Dutch listed companies have grown 3.6% per year over the last three years.
- Meanwhile revenues for these companies have declined 5.3% per year.
- This means that less sales are being generated overall, but since the cost of doing business is lower, profits are increasing.
Sector Trends
Which sectors have driven the changes within the Dutch Market?
| NL Market | -1.27% | |
| Telecom | 1.02% | |
| Consumer Discretionary | -0.17% | |
| Consumer Staples | -0.24% | |
| Tech | -0.59% | |
| Industrials | -1.07% | |
| Healthcare | -1.44% | |
| Real Estate | -1.59% | |
| Financials | -3.82% | |
| Energy | -3.97% | |
| Materials | -3.99% | |
| Utilities | -5.56% | |
Sector PE
- Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 69.2x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 45.9% which is higher than its past year's earnings decline of 19.0% per year.
Forecasted Growth
- Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 51% over the next 5 years.
- In contrast, the Consumer Discretionary sector is expected to see its earnings decline by 7.5% 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 | |
|---|---|---|---|---|---|---|
| WKL Wolters Kluwer | €152.70 | 2.1% +€750.6m | 31.5% | PE36.1x | Industrials | |
| UMG Universal Music Group | €28.63 | 1.4% +€731.4m | 42.0% | PE41.6x | Telecom | |
| BESI BE Semiconductor Industries | €153.60 | 4.0% +€450.5m | 54.9% | PE67x | Tech | |
| HEIA Heineken | €94.84 | 0.4% +€191.6m | -0.7% | PE23.2x | Consumer Staples | |
| PNL PostNL | €1.38 | 6.4% +€41.4m | -15.5% | PE22.2x | Industrials |
