Heineken N.V.

BMV:HEIA N Stock Report

Market Cap: Mex$857.8b

Heineken Valuation

Is HEIA N undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HEIA N when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HEIA N (MX$1642) is trading below our estimate of fair value (MX$4355.66)

Significantly Below Fair Value: HEIA N is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HEIA N?

Key metric: As HEIA N is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for HEIA N. This is calculated by dividing HEIA N's market cap by their current earnings.
What is HEIA N's PE Ratio?
PE Ratio38x
Earnings€1.05b
Market Cap€39.97b

Price to Earnings Ratio vs Peers

How does HEIA N's PE Ratio compare to its peers?

The above table shows the PE ratio for HEIA N vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.8x
FEMSA UBD Fomento Económico Mexicano. de
21.2x8.6%Mex$609.8b
AC * Arca Continental. de
15.3x8.0%Mex$288.2b
BIMBO A Grupo Bimbo. de
21.5x14.6%Mex$272.8b
CUERVO * Becle. de
21.3x21.1%Mex$92.8b
HEIA N Heineken
38x25.2%Mex$40.0b

Price-To-Earnings vs Peers: HEIA N is expensive based on its Price-To-Earnings Ratio (38x) compared to the peer average (19.8x).

Price to Earnings Ratio vs Industry

How does HEIA N's PE Ratio compare vs other companies in the Global Beverage Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
HEIA N 38.0xIndustry Avg. 18.2xNo. of Companies32PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HEIA N is expensive based on its Price-To-Earnings Ratio (38x) compared to the Global Beverage industry average (18.2x).

Price to Earnings Ratio vs Fair Ratio

What is HEIA N's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HEIA N PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio38x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate HEIA N's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HEIA N forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
Mex$2,047.48
0%
12.2%Mex$2,606.38Mex$1,403.54n/a21
Nov ’25n/a
Mex$2,047.48
0%
12.2%Mex$2,606.38Mex$1,403.54n/a21
Oct ’25Mex$1,795.32
Mex$2,072.44
+15.4%
13.5%Mex$2,800.65Mex$1,402.93n/a21
Sep ’25n/a
Mex$2,098.19
0%
12.6%Mex$2,781.44Mex$1,499.39n/a21
Aug ’25Mex$1,806.70
Mex$1,969.82
+9.0%
13.3%Mex$2,723.40Mex$1,402.86n/a21
Jul ’25n/a
Mex$1,988.83
0%
13.6%Mex$2,677.86Mex$1,379.39n/a21
Jun ’25Mex$1,711.74
Mex$1,823.44
+6.5%
13.5%Mex$2,456.33Mex$1,265.28n/a21
May ’25n/a
Mex$1,823.44
0%
13.5%Mex$2,456.33Mex$1,265.28n/a21
Apr ’25n/a
Mex$1,767.32
0%
12.7%Mex$2,205.80Mex$1,247.08n/a21
Mar ’25n/a
Mex$1,818.17
0%
13.5%Mex$2,268.80Mex$1,282.70n/a22
Feb ’25n/a
Mex$1,888.71
0%
12.7%Mex$2,271.96Mex$1,284.49n/a22
Jan ’25n/a
Mex$1,907.06
0%
12.3%Mex$2,230.33Mex$1,303.34n/a22
Dec ’24n/a
Mex$1,964.43
0%
13.5%Mex$2,589.46Mex$1,333.86n/a23
Nov ’24n/a
Mex$1,964.43
0%
13.5%Mex$2,589.46Mex$1,333.86n/a23
Oct ’24n/a
Mex$1,950.71
0%
13.7%Mex$2,487.77Mex$1,281.48Mex$1,795.3224
Sep ’24Mex$1,662.39
Mex$1,974.17
+18.8%
13.6%Mex$2,470.88Mex$1,272.78n/a25
Aug ’24n/a
Mex$2,005.61
0%
14.1%Mex$2,500.03Mex$1,287.79Mex$1,806.7025
Jul ’24n/a
Mex$2,053.00
0%
15.8%Mex$2,696.71Mex$1,293.30n/a22
Jun ’24n/a
Mex$2,108.25
0%
16.2%Mex$2,741.07Mex$1,314.58Mex$1,711.7422
May ’24n/a
Mex$2,169.85
0%
16.5%Mex$2,884.27Mex$1,383.26n/a22
Apr ’24n/a
Mex$2,073.94
0%
14.4%Mex$2,541.39Mex$1,359.45n/a21
Mar ’24n/a
Mex$2,035.97
0%
14.1%Mex$2,516.71Mex$1,346.24n/a23
Feb ’24Mex$1,870.56
Mex$2,119.40
+13.3%
13.4%Mex$2,632.88Mex$1,430.39n/a23
Jan ’24n/a
Mex$2,063.60
0%
13.4%Mex$2,466.82Mex$1,429.52n/a23
Dec ’23n/a
Mex$2,009.31
0%
12.9%Mex$2,415.53Mex$1,399.80n/a23
Nov ’23n/a
Mex$1,992.14
0%
13.0%Mex$2,367.05Mex$1,371.70n/a24

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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