ENXTAM:HEIO

Stock Analysis Report

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Executive Summary

Heineken Holding N.V., through its subsidiaries, brews and sells beer and cider. More Details


Snowflake Analysis

Moderate growth potential with worrying balance sheet.


Similar Companies

Share Price & News

How has Heineken Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: HEIO has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.9%

HEIO

-3.5%

NL Beverage

-2.9%

NL Market


1 Year Return

-21.1%

HEIO

-25.7%

NL Beverage

-8.8%

NL Market

Return vs Industry: HEIO exceeded the Dutch Beverage industry which returned -24.3% over the past year.

Return vs Market: HEIO underperformed the Dutch Market which returned -8.3% over the past year.


Shareholder returns

HEIOIndustryMarket
7 Day-2.9%-3.5%-2.9%
30 Day2.2%1.3%3.7%
90 Day-9.6%-4.8%-4.1%
1 Year-19.9%-21.1%-24.3%-25.7%-6.5%-8.8%
3 Year-7.2%-11.9%-19.7%-24.4%-0.8%-10.8%
5 Year2.4%-6.3%-9.4%-18.4%27.0%3.9%

Price Volatility Vs. Market

How volatile is Heineken Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Heineken Holding undervalued compared to its fair value and its price relative to the market?

42.25x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: HEIO (€68.5) is trading above our estimate of fair value (€25.3)

Significantly Below Fair Value: HEIO is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: HEIO is poor value based on its PE Ratio (42.2x) compared to the XE Beverage industry average (21.9x).

PE vs Market: HEIO is poor value based on its PE Ratio (42.2x) compared to the Dutch market (21.4x).


Price to Earnings Growth Ratio

PEG Ratio: HEIO is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: HEIO is overvalued based on its PB Ratio (2.9x) compared to the XE Beverage industry average (2.3x).


Next Steps

Future Growth

How is Heineken Holding forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

26.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HEIO's forecast earnings growth (26.9% per year) is above the savings rate (0.4%).

Earnings vs Market: HEIO's earnings (26.9% per year) are forecast to grow faster than the Dutch market (26.4% per year).

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

Revenue vs Market: HEIO's revenue (5.8% per year) is forecast to grow slower than the Dutch market (9.1% per year).

High Growth Revenue: HEIO's revenue (5.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HEIO's Return on Equity is forecast to be low in 3 years time (13%).


Next Steps

Past Performance

How has Heineken Holding performed over the past 5 years?

-0.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HEIO has a large one-off loss of €609.0M impacting its June 30 2020 financial results.

Growing Profit Margin: HEIO's current net profit margins (2.1%) are lower than last year (4.1%).


Past Earnings Growth Analysis

Earnings Trend: HEIO's earnings have declined by 0.4% per year over the past 5 years.

Accelerating Growth: HEIO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: HEIO had negative earnings growth (-51.3%) over the past year, making it difficult to compare to the Beverage industry average (-8.7%).


Return on Equity

High ROE: HEIO's Return on Equity (7.3%) is considered low.


Next Steps

Financial Health

How is Heineken Holding's financial position?


Financial Position Analysis

Short Term Liabilities: HEIO's short term assets (€10.8B) do not cover its short term liabilities (€12.6B).

Long Term Liabilities: HEIO's short term assets (€10.8B) do not cover its long term liabilities (€18.7B).


Debt to Equity History and Analysis

Debt Level: HEIO's debt to equity ratio (134.4%) is considered high.

Reducing Debt: HEIO's debt to equity ratio has increased from 78.3% to 134.4% over the past 5 years.

Debt Coverage: HEIO's debt is not well covered by operating cash flow (15.3%).

Interest Coverage: HEIO's interest payments on its debt are well covered by EBIT (6.4x coverage).


Balance Sheet


Next Steps

Dividend

What is Heineken Holding current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate HEIO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate HEIO's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if HEIO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if HEIO's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: HEIO is not paying a notable dividend for the Dutch market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of HEIO's dividend in 3 years as they are not forecast to pay a notable one for the Dutch market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.6yrs

Average management tenure


CEO

Heineken Holding has no CEO, or we have no data on them.


Leadership Team

NamePositionTenureCompensationOwnership
Charlene de Carvalho-Heineken
Executive Director32.75yrsno data0.030%
€ 5.9m
Michel de Carvalho
Executive Director5.5yrsno datano data
Jean-Francois M. Van Boxmeer
Director0.33yr€3.73mno data
Laurence Debroux
Executive Directorno data€7.11mno data
Federico Martinez
Director of Investor Relationsno datano datano data
Maarten Schuurman
Senior Director of Global Sales Execution & Capabilitiesno datano datano data
David Forde
Managing Director of UK7.42yrsno datano data
Jacco Van Der Linden
Managing Director of China Business5.17yrsno datano data
Etienne Strijp
Managing Director of Mexico2.08yrsno datano data
Boudewijn Haarsma
Managing Director of Russia2.08yrsno datano data

3.6yrs

Average Tenure

62.5yo

Average Age

Experienced Management: HEIO's management team is considered experienced (3.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Charlene de Carvalho-Heineken
Executive Director32.75yrsno data0.030%
€ 5.9m
Michel de Carvalho
Executive Director5.5yrsno datano data
Jean-Francois M. Van Boxmeer
Director0.33yr€3.73mno data
Jose Antonio Vicente Fernandez Carbajal
Non-Executive Director10.75yrsno datano data
Maarten Das
Non-Executive Chairmanno datano datano data
Alexander Alfred de Carvalho
Non-Executive Director7.5yrsno datano data
Charlotte Kwist
Non-Executive Director9.5yrsno datano data
L.L.H. Brassey
Non-Executive Director2.5yrsno datano data
A.M. van Vlissingen
Independent Non Executive Director2.5yrsno datano data

6.5yrs

Average Tenure

59yo

Average Age

Experienced Board: HEIO's board of directors are considered experienced (6.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: HEIO insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Heineken Holding N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Heineken Holding N.V.
  • Ticker: HEIO
  • Exchange: ENXTAM
  • Founded: 1864
  • Industry: Brewers
  • Sector: Food, Beverage & Tobacco
  • Market Cap: €19.730b
  • Shares outstanding: 288.03m
  • Website: https://www.theheinekencompany.com

Number of Employees


Location

  • Heineken Holding N.V.
  • Tweede Weteringplantsoen 5
  • Amsterdam
  • Noord-Holland
  • 1017 ZD
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HKHH.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
HEIOENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURJan 1992
0NBDLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
4H5DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
HEIOABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
HKHH.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDDec 2012

Biography

Heineken Holding N.V., through its subsidiaries, brews and sells beer and cider. The company sells its beers under, including Heineken, Amstel, Desperados, Sol, Tiger, Tecate, Red Stripe, Krušovice, Birra ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/21 20:49
End of Day Share Price2020/10/21 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.