Heineken NV

Heineken NV maintains a capital structure characterized by significant leverage, with long-term debt of €19.28 billion against total equity of €17.98 billion, resulting in a debt-to-equity ratio of 1.07. The company holds €4.77 billion in cash and equivalents, which is insufficient to cover total liabilities of €35.78 billion, leading to a negative net cash position. Liquidity is assessed as medium risk, supported by a current ratio of 0.93, indicating that current liabilities slightly exceed current assets,. Operating cash flow stands at €5.01 billion, but free cash flow is compressed to €693 million due to capital expenditures of €2.40 billion.

Profitability metrics show a return on equity of 10.49% and a return on assets of 3.51%. The company generated €28.75 billion in revenue, with a gross profit of €13.83 billion and operating income of €3.46 billion, yielding a net income of €1.89 billion. The price-to-earnings ratio is 21.94, and the enterprise value-to-EBITDA multiple is 16.15, suggesting a premium valuation relative to earnings. Without cohort median data provided, these returns are evaluated in isolation, though the net margin of approximately 6.6% reflects the typical thin-margin nature of the beverage industry.

Segment and geographic revenue mix data is not available in the provided input, preventing a detailed analysis of revenue concentration or regional exposure,. The company’s business activity is broadly defined as unclassified within the specific activity field, though the sector classification code confirms its position in the Beverages industry.

Historical period data for revenue and net income trends is absent, limiting the ability to assess growth trajectory or momentum over the past five years. The current financial snapshot provides a static view of performance, with no quarterly or annual trend lines to contextualize the latest results.

Risk assessment highlights medium liquidity risk and low dilution risk. A key flag notes that net cash is negative after subtracting total debt, emphasizing the reliance on debt financing. The current ratio below 1.0 further underscores potential short-term liquidity pressures, although the substantial operating cash flow provides a buffer,.

Recent observations include analyst estimates with a mean price target of €86.08 and a median of €85.00, implying upside from the current market price of €73.78. The mean recommendation is 2.16, with 7 strong buys and 8 buys, indicating positive sentiment among analysts. News event observations reference a system-level refusal recovery event, which does not constitute a fundamental business event.

Revenue €6.85B, +4,7% YoY.

• ▍Revenue €6.85B, +4,7% YoY

Revenue €7.33B, −4,6% YoY.

• ▍Revenue €7.33B, −4,6% YoY

Revenue €6.54B.

• ▍Revenue €6.54B

Revenue €7.68B.

• ▍Revenue €7.68B

Revenue €28.75B, −3,9% YoY; Operating income −1,9% YoY.

• ▍Revenue €28.75B, −3,9% YoY
• ▍Operating income −1,9% YoY
• ▍Net income +92,7% YoY
• ▍Free cash flow +222,9% YoY
• ▍Net margin 6.6%

Revenue €29.91B, −1,7% YoY; Operating income +6,6% YoY.

• ▍Revenue €29.91B, −1,7% YoY
• ▍Operating income +6,6% YoY
• ▍Net income −57,5% YoY
• ▍Free cash flow −193,2% YoY
• ▍Net margin 3.3%

Revenue €30.42B, +5,9% YoY; Operating income −24,4% YoY.

• ▍Revenue €30.42B, +5,9% YoY
• ▍Operating income −24,4% YoY
• ▍Net income −14,1% YoY
• ▍Free cash flow −68,8% YoY
• ▍Net margin 7.6%

Revenue €28.72B, +30,9% YoY; Operating income −4,5% YoY.

• ▍Revenue €28.72B, +30,9% YoY
• ▍Operating income −4,5% YoY
• ▍Net income −19,3% YoY
• ▍Free cash flow −35,4% YoY
• ▍Net margin 9.3%

Revenue €21.94B; Operating income €4.58B.

• ▍Revenue €21.94B
• ▍Operating income €4.58B
• ▍Net margin 15.1%