ScoreWhy is Heineken NV ?
1
The company is Net-Debt Free
- Poor long term growth as Operating profit has grown by an annual rate 12.67% of over the last 5 years
- The company is Net-Debt Free
- The company has been able to generate a Return on Capital Employed (avg) of 9.95% signifying low profitability per unit of total capital (equity and debt)
2
Poor long term growth as Operating profit has grown by an annual rate 12.67% of over the last 5 years
3
Positive results in Dec 25
- OPERATING CASH FLOW(Y) Highest at EUR 10,515 MM
- INTEREST COVERAGE RATIO(Q) Highest at 970.77
- RAW MATERIAL COST(Y) Fallen by -45.13% (YoY)
4
With ROE of 13.64%, it has a Expensive valuation with a 2.25 Price to Book Value
- Over the past year, while the stock has generated a return of -19.33%, its profits have risen by 16.1% ; the PEG ratio of the company is 1
5
Consistent Underperformance against the benchmark over the last 3 years
- Along with generating -19.33% returns in the last 1 year, the stock has also underperformed Netherlands AEX in each of the last 3 annual periods
Real-Time Research ReportHow much should you hold?
- Overall Portfolio exposure to Heineken NV should be less than 10%
- Overall Portfolio exposure to Beverages should be less than 30%
(If sector exposure > 30%, please use optimiser tool to see which are the best stocks to hold in Beverages)
When to exit? - We will constantly monitor the company and suggest at the appropriate time to exit from the stock
Is Heineken NV for you?
Low Risk, Low Return
Absolute
Risk Adjusted
Volatility
Heineken NV
-17.38%
-1.58
22.75%
Netherlands AEX
13.29%
0.95
14.04%
Quality
Management Risk
Growth
Capital StructureQuality key factors
Factor
Value
Sales Growth (5y)
7.84%
EBIT Growth (5y)
12.67%
EBIT to Interest (avg)
5.80
Debt to EBITDA (avg)
2.54
Net Debt to Equity (avg)
0.70
Sales to Capital Employed (avg)
0.78
Tax Ratio
46.03%
Dividend Payout Ratio
56.12%
Pledged Shares
0
Institutional Holding
0.11%
ROCE (avg)
9.95%
ROE (avg)
13.16%
ValuationValuation Key Factors 
Factor
Value
P/E Ratio
17
Industry P/E
Price to Book Value
2.25
EV to EBIT
14.69
EV to EBITDA
9.11
EV to Capital Employed
1.72
EV to Sales
1.87
PEG Ratio
1.03
Dividend Yield
2.71%
ROCE (Latest)
11.71%
ROE (Latest)
13.64%
TechnicalsTechnical key factors
Indicator
Weekly
Monthly
MACD
Mildly Bullish
Bearish
RSI
No Signal
Bearish
Bollinger Bands
Sideways
Bearish
Moving Averages
Bearish (Daily)
KST
Bullish
Mildly Bullish
Dow Theory
No Trend
No Trend
OBV
No Trend
No Trend
Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned 
Financial Trend9What is working for the Company
OPERATING CASH FLOW(Y)
Highest at EUR 10,515 MM
INTEREST COVERAGE RATIO(Q)
Highest at 970.77
RAW MATERIAL COST(Y)
Fallen by -45.13% (YoY
CASH AND EQV(HY)
Highest at EUR 4,773 MM
OPERATING PROFIT MARGIN(Q)
Highest at 21.65 %
EPS(Q)
Highest at EUR 2.04
0What is not working for the Company
NO KEY NEGATIVE TRIGGERS
Here's what is working for Heineken NV
Operating Cash Flow
Highest at EUR 10,515 MM and Grown
In each year in the last three yearsMOJO Watch
The company has generated higher cash revenues from business operations
Operating Cash Flows (EUR MM)
Interest Coverage Ratio
Highest at 970.77
in the last five periodsMOJO Watch
The company's ability to manage interest payments is improving
Operating Profit to Interest
Operating Profit Margin
Highest at 21.65 %
in the last five periodsMOJO Watch
Company's profit margin has improved
Operating Profit to Sales
EPS
Highest at EUR 2.04
in the last five periodsMOJO Watch
Increasing profitability; company has created higher earnings for shareholders
EPS (EUR)
Cash and Eqv
Highest at EUR 4,773 MM
in the last six Semi-Annual periodsMOJO Watch
Short Term liquidity is improving
Cash and Cash Equivalents
Raw Material Cost
Fallen by -45.13% (YoY)
MOJO Watch
The company's ability to pass on the cost of raw materials to customers has improved; this may lead to a rise in profit margin
Raw Material Cost as a percentage of Sales
Depreciation
At EUR 1,271 MM has Grown at 30.23%
period on period (QoQ)MOJO Watch
The expenditure on assets done by the company has gone into productive use which should positively reflect in the future sales
Depreciation (EUR MM)
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