Heineken Future Growth

Future criteria checks 3/6

Heineken is forecast to grow earnings and revenue by 24.2% and 3.1% per annum respectively. EPS is expected to grow by 26.4% per annum. Return on equity is forecast to be 13.3% in 3 years.

Key information

24.2%

Earnings growth rate

26.4%

EPS growth rate

Beverage earnings growth	11.0%
Revenue growth rate	3.1%
Future return on equity	13.3%
Analyst coverage	Good
Last updated	18 Dec 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

ENXTAM:HEIA - Analysts future estimates and past financials data (EUR Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	32,091	2,869	3,131	5,748	17
12/31/2025	30,770	2,611	2,663	5,258	18
12/31/2024	30,061	1,488	2,266	4,622	19
6/30/2024	30,662	1,053	2,830	5,341	N/A
3/31/2024	30,512	1,679	2,292	4,886	N/A
12/31/2023	30,362	2,304	1,753	4,430	N/A
9/30/2023	30,060	2,439	1,330	3,895	N/A
6/30/2023	29,758	2,573	906	3,359	N/A
3/31/2023	29,239	2,628	1,696	3,928	N/A
12/31/2022	28,719	2,682	2,485	4,496	N/A
9/30/2022	27,068	3,119	2,770	4,633	N/A
6/30/2022	25,416	3,555	3,055	4,769	N/A
3/31/2022	23,679	3,440	2,820	4,475	N/A
12/31/2021	21,941	3,324	2,584	4,181	N/A
9/30/2021	21,212	2,226	2,772	4,282	N/A
6/30/2021	20,482	1,127	2,959	4,382	N/A
3/31/2021	20,099	462	2,228	3,759	N/A
12/31/2020	19,715	-204	1,496	3,136	N/A
9/30/2020	20,742	365	1,153	3,063	N/A
6/30/2020	21,769	933	809	2,990	N/A
3/31/2020	22,869	1,550	1,523	3,664	N/A
12/31/2019	23,969	2,166	2,236	4,337	N/A
9/30/2019	23,553	2,033	2,115	4,182	N/A
6/30/2019	23,137	1,900	1,994	4,026	N/A
3/31/2019	22,813	1,907	2,164	4,207	N/A
12/31/2018	22,489	1,913	2,333	4,388	N/A
9/30/2018	22,276	1,963	N/A	N/A	N/A
6/30/2018	22,062	2,013	2,240	4,232	N/A
3/31/2018	21,836	1,974	N/A	4,057	N/A
12/31/2017	21,609	1,935	N/A	3,882	N/A
9/30/2017	21,325	1,880	N/A	N/A	N/A
6/30/2017	21,040	1,825	N/A	4,077	N/A
3/31/2017	20,916	1,683	N/A	3,898	N/A
12/31/2016	20,792	1,540	N/A	3,718	N/A
9/30/2016	20,751	1,437	N/A	3,701	N/A
6/30/2016	20,709	1,334	N/A	3,684	N/A
3/31/2016	20,610	1,613	N/A	3,587	N/A
12/31/2015	20,511	1,892	N/A	3,489	N/A
9/30/2015	20,195	1,961	N/A	3,282	N/A
6/30/2015	19,879	2,029	N/A	3,075	N/A
3/31/2015	19,568	1,773	N/A	3,067	N/A
12/31/2014	19,257	1,516	N/A	3,058	N/A
9/30/2014	19,190	1,436	N/A	3,185	N/A
6/30/2014	19,123	1,356	N/A	3,312	N/A
3/31/2014	19,163	1,360	N/A	3,113	N/A
12/31/2013	19,203	1,364	N/A	2,914	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: HEIA's forecast earnings growth (24.2% per year) is above the savings rate (1.2%).

Earnings vs Market: HEIA's earnings (24.2% per year) are forecast to grow faster than the Dutch market (15.7% per year).

High Growth Earnings: HEIA's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: HEIA's revenue (3.1% per year) is forecast to grow slower than the Dutch market (8.8% per year).

High Growth Revenue: HEIA's revenue (3.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: HEIA's Return on Equity is forecast to be low in 3 years time (13.3%).

Discover growth companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/30 22:16
End of Day Share Price	2024/12/30 00:00
Earnings	2024/06/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Heineken N.V. is covered by 58 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Robert Jan Vos	ABN AMRO Bank N.V.
Pierre-Yves Gauthier	AlphaValue
Juan Correas Rubio	Banco Santander

Heineken Future Growth

Future criteria checks 3/6

Key information

Recent future growth updates

Heineken N.V. Provides Earnings Guidance for the Full Year 2024

Consensus EPS estimates fall by 10%

Heineken N.V. Provides Earnings Guidance for the Year 2023

Heineken N.V. Provides Earnings Guidance for the Year 2023

Consensus EPS estimates increase by 16%

Consensus forecasts updated

Recent updates

Heineken N.V. Announces Board Changes

With Heineken N.V. (AMS:HEIA) It Looks Like You'll Get What You Pay For

Does Heineken (AMS:HEIA) Have A Healthy Balance Sheet?

Heineken's (AMS:HEIA) Returns Have Hit A Wall

New minor risk - Dividend sustainability

Investors Still Waiting For A Pull Back In Heineken N.V. (AMS:HEIA)

First half 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

New minor risk - Profit margin trend

Heineken N.V. to Report Fiscal Year 2024 Results on Feb 12, 2025

Here's Why Heineken (AMS:HEIA) Can Manage Its Debt Responsibly

Return Trends At Heineken (AMS:HEIA) Aren't Appealing

Heineken N.V. Approves Final Dividend for the Year 2023, Payable on 7 May 2024

Heineken's (AMS:HEIA) Dividend Will Be €1.04

Heineken N.V. Provides Earnings Guidance for the Full Year 2024

Upcoming dividend of €1.04 per share

Getting In Cheap On Heineken N.V. (AMS:HEIA) Is Unlikely

Heineken (AMS:HEIA) Will Pay A Dividend Of €1.04

Full year 2023 earnings: EPS misses analyst expectations

Heineken's (AMS:HEIA) Conservative Accounting Might Explain Soft Earnings

Consensus EPS estimates fall by 10%

Is Heineken (AMS:HEIA) Using Too Much Debt?

Full year 2023 earnings: EPS misses analyst expectations

Heineken N.V. to Report Fiscal Year 2023 Final Results on Feb 22, 2024

Heineken N.V., Annual General Meeting, Apr 25, 2024

Heineken N.V. Appoints New President of the Europe Region

Heineken N.V. Provides Earnings Guidance for the Year 2023

Arnest Open Joint-Stock Company acquired Russia business from Heineken N.V. (ENXTAM:HEIA).

Heineken N.V. Announces Interim Dividend 2023, Payable on 10 August 2023

First half 2023 earnings: EPS and revenues exceed analyst expectations

New major risk - Financial position

Heineken N.V. to Report Fiscal Year 2023 Results on Feb 14, 2024

Heineken N.V. Announces Executive Changes

Heineken N.V. (ENXTAM:HEIA) acquired remaining unknown stake in Oedipus Brewing B.V.

Heineken N.V. Announces Executive Changes

Upcoming dividend of €1.23 per share at 1.7% yield

Full year 2022 earnings: EPS and revenues exceed analyst expectations

Heineken N.V. Provides Earnings Guidance for the Year 2023

Heineken N.V. Announces Retirement of Ingrid–Helen Arnold from Supervisory Board

Heineken N.V. to Report Q2, 2023 Results on Jul 31, 2023

Insider recently sold €953k worth of stock

Consensus EPS estimates increase by 16%

Heineken N.V. to Report Fiscal Year 2022 Results on Feb 15, 2023

Heineken N.V. (ENXTAM:HEIA) reached an agreement to acquire Long Chuan Zuan Co., Ltd. from Sanyo Whisbih Group.

Upcoming dividend of €0.96 per share

Heineken N.V. to Report Fiscal Year 2021 Final Results on Feb 25, 2022

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Heineken N.V. Proposes Final Dividend for the Year 2021, Payable on 3 May 2022

Heineken N.V. to Report First Half, 2022 Results on Aug 01, 2022

Consensus forecasts updated

Insider recently sold €964k worth of stock

Heineken and Distell to Conclude Takeover Talks by End September

Heineken N.V. Provides Financial Guidance for the Full Year 2021

First half 2021 earnings released: EPS €1.80 (vs €0.52 loss in 1H 2020)

Independent Member of Supervisory Board has left the company

CFO & Member of the Executive Board has left the company

Upcoming dividend of €0.70 per share

Heineken N.V. Announces Executive Changes

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings per Share Growth Forecasts

Future Return on Equity

Discover growth companies

Company Analysis and Financial Data Status

Data Sources

Analysis Model and Snowflake

Industry and Sector Metrics

Analyst Sources