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Heineken Holding N.V. (HEIO.AS)
EUR69.50
+0.25 (+0.36%)
NL AMS Consumer Defensive Beverages - Alcoholic
Address
Tweede Weteringplantsoen 5 1017 ZD
Amsterdam, NL
Amsterdam, NL
CEO
Martha Bulhak
Website
heinekenholding.com
IPO
2004-05-04
ISIN NL0000008977
Also trades on
Euronext Amsterdam · HEIO.AS (EUR)
Other OTC · HKHHF (USD)
Other OTC · HKHHY (USD)
Vienna Stock Exchange · HEIO.VI (EUR)
Description
Operating through its diverse subsidiaries, Heineken Holding N.V. focuses on the global production and sale of both beer and cider. Its vast portfolio encompasses nearly 300 distinct brands, ranging from internationally recognized names to regional, local, and specialized beverage options. The company maintains a significant market presence across various continents, including Africa, the Middle East, Europe, the Americas, and the Asia Pacific. Established in Amsterdam, the Netherlands, it traces its origins back to 1864. Ultimately, Heineken Holding N.V. functions as a subsidiary of L'Arche Green N.V.
Market Cap & Enterprise Value
Merger & Acquisition History
No mergers or acquisitions recorded for this company.
Technical Outlook
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Signal Summary
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| Indicator | 1D | 1W | 2W | 3W | 1M |
|---|
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
EUR69.50
+0.25 (+0.36%)
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Volume Profile
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Liquidity & share structure
Average Volume
221.8K
Beta
0.62
Float Shares
120.82M
Free Float %
43.7%
Price Performance
| 1D | 5D | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Max |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.20% | -2.29% | +2.48% | -15.44% | +0.57% | -0.80% | -9.77% | -23.15% | -24.97% | -15.79% | +153.90% |
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From
To
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Annual Monthly Returns
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Daily Returns Distribution
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Revenue flow
Revenue by geography
Revenue by segment
From
To
Revenue composition
From
To
By product
By geography
Financial Statements
Select metrics from the tables below to build your comparison.
Income Statement
Balance Sheet
Cash Flow Statement
Key Metrics
Financial Ratios
Employees
Financial Growth (CAGR)
Market Data
Price Targets & DCF
Current price
69.50
DCF (Unlevered)
244.47
+251.8%
DCF (Levered)
186.76
+168.7%
DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.
Ratings Trend (MoM)
50% Bullish
| Rating | 2026-05 | Change |
|---|---|---|
| Strong Buy | 0 | 0 |
| Buy | 1 | 0 |
| Hold | 1 | 0 |
| Sell | 0 | 0 |
| Strong Sell | 0 | 0 |
Quality scores
Altman Z-Score
2.10
Grey zone
Piotroski F-Score
7 / 9
Strong
MOAT Score
5 / 10
Developing
Composite Rating
B
Overall Score
3 / 5
Medium
DCF Score
5 / 5
High
ROE Score
4 / 5
High
ROA Score
3 / 5
Medium
D/E Score
1 / 5
Low
P/E Score
2 / 5
Medium
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
-
Revenue growth Beverages - Alcoholic: +1.2%-3.6% Q4'25: -8.0% (vs Q4'23)
-
EPS growth Beverages - Alcoholic: +10.7%+92.6% ★ Q4'25: -23.7% (vs Q4'23)
-
FCF margin FCF growth · Beverages - Alcoholic: -4.0%+9.6% ★ Q4'25: +17.1% (vs Q4'23)
-
EBIT margin Beverages - Alcoholic: +13.7%+12.6% Q4'25: +15.6% (vs Q4'23)
-
ROIC Beverages - Alcoholic: +6.8%+7.2% ★ Q4'25: +18.3% (vs Q4'23)
-
Share dilution Beverages - Alcoholic: +0.0%-0.6% ★ Q4'25: +28.2% (vs Q4'23)
-
Debt / EBITDA Net debt/EBITDA · Beverages - Alcoholic: -0.12×3.29× Q4'25: 1.62× (vs Q4'23)
Valuation Multiples
From
To
Price Forecast (3Y)
From
To
Theoretical Return — If Invested Today
* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.
Consensus Estimates
| Metric |
Dec 2003 actual |
Dec 2004 actual |
Dec 2005 actual |
Dec 2006 actual |
Dec 2007 actual |
Dec 2008 actual |
Dec 2009 actual |
Dec 2010 actual |
Dec 2011 actual |
Dec 2012 actual |
Dec 2013 actual |
Dec 2014 actual |
Dec 2015 actual |
Dec 2016 actual |
Dec 2017 actual |
Dec 2018 actual |
Dec 2019 actual |
Dec 2020 actual |
Dec 2021 actual |
Dec 2022 actual |
Dec 2023 actual |
Dec 2024 actual |
Dec 2025 actual |
Dec 2026 1 Rev. Ana. 1 EPS Ana. |
Dec 2027 1 Rev. Ana. 1 EPS Ana. |
Dec 2028 1 Rev. Ana. 1 EPS Ana. |
Dec 2029 1 Rev. Ana. 1 EPS Ana. |
Dec 2030 1 Rev. Ana. 1 EPS Ana. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
9.88B
est.
|
10.06B
est: 10.16B (-0.9%)
|
10.80B
est: 10.68B (+1.1%)
|
11.83B
est: 10.92B (+8.3%)
|
12.56B
est: 12.90B (-2.6%)
|
14.32B
est: 14.27B (+0.3%)
|
14.70B
est: 15.08B (-2.5%)
|
16.13B
est: 17.13B (-5.8%)
|
17.12B
est: 17.34B (-1.3%)
|
18.38B
est: 18.39B (0.0%)
|
19.20B
est: 19.64B (-2.2%)
|
19.26B
est: 20.24B (-4.9%)
|
20.51B
est: 20.57B (-0.3%)
|
20.79B
est: 20.94B (-0.7%)
|
21.89B
est: 22.23B (-1.5%)
|
22.47B
est: 22.38B (+0.4%)
|
23.97B
est: 23.81B (+0.7%)
|
19.72B
est: 20.16B (-2.2%)
|
21.94B
est: 21.42B (+2.4%)
|
28.72B
est: 28.51B (+0.7%)
|
30.36B
est: 30.28B (+0.3%)
|
29.82B
est: 30.07B (-0.8%)
|
28.75B
est: 28.67B (+0.3%)
|
31.21B
31.21B – 31.21B
+8.9% YoY
|
32.79B
32.79B – 32.79B
+5.1% YoY
|
34.30B
34.26B – 34.34B
+4.6% YoY
|
35.89B
35.89B – 35.89B
+4.7% YoY
|
37.63B
37.63B – 37.63B
+4.8% YoY
|
| EBITDA |
2.02B
est.
|
1.93B
est: 1.67B (+15.7%)
|
2.11B
est: 2.14B (-1.4%)
|
2.63B
est: 2.19B (+20.2%)
|
1.80B
est: 2.58B (-30.3%)
|
2.27B
est: 2.86B (-20.6%)
|
3.14B
est: 1.14B (+175.7%)
|
3.69B
est: 1.66B (+122.1%)
|
3.69B
est: 1.96B (+88.4%)
|
3.81B
est: 2.30B (+66.1%)
|
4.09B
est: 3.49B (+17.1%)
|
4.12B
est: 2.41B (+70.8%)
|
4.32B
est: 2.66B (+62.3%)
|
4.21B
est: 3.04B (+38.4%)
|
4.85B
est: 3.14B (+54.2%)
|
4.67B
est: 2.96B (+57.7%)
|
5.54B
est: 3.35B (+65.0%)
|
2.56B
est: 3.32B (-22.8%)
|
6.38B
est: 3.69B (+73.0%)
|
6.67B
est: 3.84B (+73.9%)
|
5.82B
est: 4.09B (+42.5%)
|
5.29B
est: 6.67B (-20.6%)
|
6.22B
est: 6.36B (-2.1%)
|
6.92B
6.92B – 6.92B
+8.9% YoY
|
7.27B
7.27B – 7.27B
+5.1% YoY
|
7.60B
7.60B – 7.61B
+4.6% YoY
|
7.96B
7.96B – 7.96B
+4.7% YoY
|
8.34B
8.34B – 8.34B
+4.8% YoY
|
| EBIT |
1.17B
est.
|
1.28B
est: 1.18B (+9.0%)
|
1.37B
est: 1.24B (+10.6%)
|
1.90B
est: 1.28B (+48.4%)
|
1.48B
est: 1.49B (-1.1%)
|
1.06B
est: 1.66B (-36.0%)
|
2.06B
est: 1.25B (+65.0%)
|
2.57B
est: 1.85B (+38.9%)
|
2.53B
est: 2.31B (+9.3%)
|
4.19B
est: 2.35B (+78.5%)
|
2.75B
est: 3.94B (-30.3%)
|
2.95B
est: 2.63B (+12.1%)
|
3.30B
est: 2.85B (+15.8%)
|
2.68B
est: 3.10B (-13.6%)
|
3.29B
est: 2.95B (+11.8%)
|
3.13B
est: 3.40B (-8.1%)
|
3.65B
est: 3.30B (+10.6%)
|
685.00M
est: 3.31B (-79.3%)
|
4.54B
est: 3.68B (+23.2%)
|
4.66B
est: 3.83B (+21.6%)
|
2.94B
est: 4.08B (-27.9%)
|
2.69B
est: 4.10B (-34.5%)
|
3.62B
est: 3.91B (-7.5%)
|
4.26B
4.26B – 4.26B
+8.9% YoY
|
4.47B
4.47B – 4.47B
+5.1% YoY
|
4.68B
4.67B – 4.68B
+4.6% YoY
|
4.89B
4.89B – 4.89B
+4.7% YoY
|
5.13B
5.13B – 5.13B
+4.8% YoY
|
| Net Income |
477.81M
est.
|
321.00M
est: 465.13M (-31.0%)
|
381.00M
est: 433.55M (-12.1%)
|
606.00M
est: 485.23M (+24.9%)
|
404.00M
est: 628.79M (-35.7%)
|
347.00M
est: 620.17M (-44.0%)
|
1.14B
est: 110.96M (+929.2%)
|
1.57B
est: 579.16M (+170.7%)
|
1.56B
est: 728.98M (+114.0%)
|
1.48B
est: 760.22M (+94.3%)
|
683.00M
est: 1.58B (-56.7%)
|
760.00M
est: 703.78M (+8.0%)
|
957.00M
est: 778.63M (+22.9%)
|
779.00M
est: 965.38M (-19.3%)
|
977.00M
est: 833.43M (+17.2%)
|
961.00M
est: 991.78M (-3.1%)
|
2.37B
est: 1.02B (+132.5%)
|
-88.00M
est: 990.91M (-108.9%)
|
3.54B
est: 1.10B (+220.9%)
|
3.04B
est: 1.30B (+133.9%)
|
1.17B
est: 3.02B (-61.1%)
|
498.00M
est: 918.00M (-45.8%)
|
952.00M
est: 1.34B (-29.2%)
|
1.60B
1.60B – 1.60B
+19.3% YoY
|
1.78B
1.78B – 1.78B
+10.8% YoY
|
2.00B
2.00B – 2.00B
+12.6% YoY
|
2.24B
2.24B – 2.24B
+12.2% YoY
|
2.52B
2.52B – 2.52B
+12.5% YoY
|
| SGA |
1.74B
est.
|
—
est: 3.89B (-100.0%)
|
—
est: 1.84B (-100.0%)
|
—
est: 1.88B (-100.0%)
|
—
est: 2.22B (-100.0%)
|
—
est: 2.46B (-100.0%)
|
—
est: 6.04B (-100.0%)
|
—
est: 6.35B (-100.0%)
|
—
est: 6.63B (-100.0%)
|
2.25B
est: 7.45B (-69.8%)
|
2.42B
est: 8.12B (-70.2%)
|
2.45B
est: 7.84B (-68.8%)
|
2.76B
est: 7.77B (-64.5%)
|
2.84B
est: 8.29B (-65.8%)
|
2.91B
est: 8.72B (-66.6%)
|
2.49B
est: 10.31B (-75.8%)
|
6.05B
est: 11.15B (-45.7%)
|
5.02B
est: 9.76B (-48.6%)
|
5.11B
est: 10.84B (-52.9%)
|
7.10B
est: 11.28B (-37.1%)
|
4.39B
est: 12.02B (-63.5%)
|
—
est: 3.76B (-100.0%)
|
—
est: 3.58B (-100.0%)
|
3.90B
3.90B – 3.90B
+8.9% YoY
|
4.10B
4.10B – 4.10B
+5.1% YoY
|
4.29B
4.28B – 4.29B
+4.6% YoY
|
4.49B
4.49B – 4.49B
+4.7% YoY
|
4.70B
4.70B – 4.70B
+4.8% YoY
|
| EPS |
1.69
est.
|
1.31
est: 1.65 (-20.7%)
|
1.55
est: 1.54 (+0.6%)
|
2.47
est: 1.72 (+43.3%)
|
1.65
est: 2.23 (-26.1%)
|
0.43
est: 2.20 (-80.5%)
|
2.08
est: 2.20 (-5.4%)
|
2.65
est: 2.85 (-7.0%)
|
2.49
est: 2.75 (-9.3%)
|
5.07
est: 2.91 (+74.4%)
|
2.37
est: 2.79 (-15.2%)
|
2.64
est: 3.20 (-17.6%)
|
3.32
est: 3.31 (+0.3%)
|
2.70
est: 3.42 (-21.0%)
|
3.39
est: 3.37 (+0.5%)
|
3.41
est: 4.05 (-15.9%)
|
8.26
est: 4.46 (+85.0%)
|
-0.31
est: 1.75 (-117.7%)
|
12.29
est: 3.29 (+273.6%)
|
10.58
est: 4.67 (+126.6%)
|
4.13
est: 3.98 (+3.8%)
|
1.76
est: 3.27 (-46.1%)
|
3.39
est: 4.78 (-29.1%)
|
5.71
5.71 – 5.71
+19.3% YoY
|
6.32
6.32 – 6.32
+10.8% YoY
|
7.12
7.12 – 7.12
+12.6% YoY
|
7.99
7.99 – 7.99
+12.2% YoY
|
8.98
8.98 – 8.98
+12.5% YoY
|
Historical Ratings (3M)
| Date | Rating | Overall | DCF | ROE | ROA | D/E | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
| 2026-05-29 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-28 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-27 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-26 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-25 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-22 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-21 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-20 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-19 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-18 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-15 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-14 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-13 | B | 3/5 | 5/5 | 3/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-12 | B | 3/5 | 5/5 | 3/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-11 | B | 3/5 | 5/5 | 4/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-08 | B | 3/5 | 5/5 | 3/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-07 | B | 3/5 | 5/5 | 3/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-06 | B | 3/5 | 5/5 | 3/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-05 | B | 3/5 | 5/5 | 3/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-05-04 | B | 3/5 | 5/5 | 3/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-04-30 | B | 3/5 | 5/5 | 3/5 | 3/5 | 1/5 | 2/5 | 2/5 |
| 2026-04-29 | B | 3/5 | 5/5 | 3/5 | 4/5 | 1/5 | 2/5 | 2/5 |
| 2026-04-28 | B | 3/5 | 5/5 | 3/5 | 4/5 | 1/5 | 2/5 | 2/5 |
| 2026-04-27 | B | 3/5 | 5/5 | 3/5 | 4/5 | 1/5 | 2/5 | 2/5 |
| 2026-04-24 | B | 3/5 | 5/5 | 3/5 | 4/5 | 1/5 | 2/5 | 2/5 |
| 2026-04-23 | B | 3/5 | 5/5 | 3/5 | 4/5 | 1/5 | 2/5 | 2/5 |
| 2026-04-22 | B | 3/5 | 5/5 | 3/5 | 4/5 | 1/5 | 2/5 | 2/5 |
| 2026-04-21 | B | 3/5 | 5/5 | 3/5 | 4/5 | 1/5 | 2/5 | 2/5 |
| 2026-04-20 | B | 3/5 | 5/5 | 3/5 | 4/5 | 1/5 | 2/5 | 2/5 |
| 2026-04-17 | B | 3/5 | 5/5 | 3/5 | 4/5 | 1/5 | 2/5 | 2/5 |
| 2026-04-16 | B | 3/5 | 5/5 | 3/5 | 4/5 | 1/5 | 2/5 | 2/5 |
| 2026-04-15 | B | 3/5 | 5/5 | 3/5 | 4/5 | 1/5 | 2/5 | 2/5 |
Owner Earnings
Owner's Earnings (history)
From
To
Owner alignment
Owner's Earnings TTM
5.94B
OE per share TTM
19.90
Owner's Yield
26.43%
Maintenance CapEx ratio
261.11%
Maint CapEx / Avg PPE
51.7%
Ownership Overview
Ownership breakdown
At a glance
Institutional holders
4
Total invested
651.79M
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)
No beneficial ownership filings recorded.
Institutional Activity (13F)
Institutional ownership trend
From
To
13F snapshot — 2026 Q1
Investors holding
4
-1 vs prev Q
New positions
0
Closed positions
1
Increased
0
Reduced
2
Put/Call ratio
0.00
Calls held
—
Puts held
—
Top institutional holders
| # | Investor | Shares / Δ | Mkt value / Δ | Own% / Δ | Weight% / Δ | Avg px / Perf. | Hold / Status |
|---|---|---|---|---|---|---|---|
| 1 | GARDNER RUSSO & QUINN LLC | 9.20M -85.6K (-0.9%) | 674.25M +37.6M (+5.9%) | 3.26% -0.030 pp | 7.28% +0.453 pp | EUR46.03 +35.6% | 60 qtrs — |
| 2 | BANYAN CAPITAL MANAGEMENT, INC. | 137.6K -519.0 (-0.4%) | 10.08M +627.6K (+6.6%) | 0.05% 0.000 pp | 4.38% +0.088 pp | EUR73.77 -15.4% | 12 qtrs — |
| 3 | RBO & CO LLC | 126.6K -33.3K (-20.9%) | 9.27M -1.7M (-15.4%) | 0.04% -0.012 pp | 1.48% -0.239 pp | EUR74.43 -16.2% | 18 qtrs — |
| 4 | SAYBROOK CAPITAL /NC | 10.3K +— (+0.0%) | 754.7K +48.6K (+6.9%) | 0.00% +0.000 pp | 0.19% +0.003 pp | EUR56.41 +10.6% | 52 qtrs — |
| 5 | BOIT C F DAVID | 3.5K +— (+0.0%) | 255.0K +16.9K (+7.1%) | 0.00% +0.000 pp | 0.11% +0.003 pp | EUR71.82 -13.1% | 9 qtrs — |
Ownership breakdown by holder
Insider Activity
Insider Activity — Latest Quarter
No insider activity available.
Insider buys vs sells (history)
Insider history not available.
Recent insider transactions
No recent insider transactions.
Executive team
Top executives
EBIT / Employee
40.8K
Shares Outstanding
276.33M
Executive compensation
Executive compensation (annual)
Executive compensation not available.
CEO compensation breakdown
No CEO compensation history available.
Proxy statements
Proxy statements (DEF 14A)
No proxy statements available for this company yet.
Recent SEC filings
Recent SEC filings
No SEC filings available for this company yet.
Executive team
| Name | Title | Compensation | Gender |
|---|---|---|---|
| Charlene Lucille de Carvalho-Heineken | Executive Director | 4M | female |
| Michel R. de Carvalho | Executive Director | 4M | male |
| Christiaan Prins | Director of Global Communication | — | male |
| Martha Bulhak | Chief Executive Officer of Pivovarna Lasko Union (PLU) | — | female |
| Raoul-Tristan Van Strien | Global Director of Investor Relations | — | male |
ESG Score History
No data available for this company.
Senate Trading Activity
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Community Opinion for HEIO.AS
Short-term intention
Target Price Distribution
These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.
