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Investlytic score: 2/5 criteria met.
- ❌ Price trend failed
- ⚠️ Mixed growth
- ❌ Debt failed
- ✅ P/E passed
- ✅ Correction passed
Price trend
Overall trend (8 years): insufficient progression (less than x1.5).
Price change 2018 → 2019: 22.95%
Price change 2019 → 2020: -3.90%
Price change 2020 → 2021: 8.38%
Price change 2021 → 2022: -11.11%
Price change 2022 → 2023: 4.62%
Price change 2023 → 2024: -25.28%
Price change 2024 → 2025: 1.51%
Price change 2025 → 2026: -1.03%
Price change 2026 (year to date): 0.03%
Financial growth
Revenue CAGR (8 years): 3.57%
Earnings CAGR (8 years): -0.14%
Growth status: positive trend (>1%/yr) in revenue OR earnings, but not both.
Debt
Debt-to-equity ratio: 1.14
Debt/equity > 0.5 (maximum threshold).
P/E (Price/Earnings)
P/E ratio: 17.22
P/E < 25.0 (maximum threshold).
Correction (6 months)
Current correction: 13.75% from the high over 6 months.
Correction between 10.0% and 20.0% (target range).
Criteria of the Investlytic model
- / 5Free with the Investlytic logo. Paste this line into your page: options.
<script src="https://investlytic.co/encart.js" data-symbole="HEIA.AS" data-lang="en"></script>Price trend
Price & trend
Interactive chart →💰 Dividend
Dividend ranking →⚖️ Comparison with the market
All stocks →| Stock | P/E | Dette/FP | Revenue growth | Rating |
|---|---|---|---|---|
| Heineken N.V. | 19.5 | 1.14 | +3.9 % | 🔒 |
| Danone S.A. | 21.6 | 0.89 | +3.2 % | – |
| Ambev S.A. | 14.8 | 0.06 | +8.7 % | – |
| Constellation Brands, Inc. | 11.3 | 1.76 | +6.5 % | – |
| Pernod Ricard S.A. | 14.2 | 0.83 | +1.8 % | – |
Data from the Investlytic screener. The rating of the stock being viewed is reserved for members.
Detailed analysis · Price trend
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Revenues & profits
Revenue and net income
Financial indicators
Annual financial statements
| Fiscal year | Revenue | Net income | Net margin | EPS | Revenue growth |
|---|
Key reported figures
Revenue, net income and net margin reported by Heineken N.V. over the latest fiscal years.
| Fiscal year | Revenue | Net income | Net margin | Revenue growth |
|---|---|---|---|---|
| 2020 | 22.0 bn | -227 m | -1.0 % | n/a |
| 2021 | 24.7 bn | 3.7 bn | 15.0 % | +12.3 % |
| 2022 | 32.0 bn | 3.0 bn | 9.3 % | +29.7 % |
| 2023 | 33.8 bn | 2.6 bn | 7.6 % | +5.7 % |
| 2024 | 33.2 bn | 1.1 bn | 3.3 % | -1.8 % |
| 2025 | 32.1 bn | 2.1 bn | 6.6 % | -3.6 % |
Amounts converted to USD. Source: published annual accounts, collected on 06/11/2026.
Accounts and financial health
Balance sheet and cash flow published by Heineken N.V. over the last fiscal years, strength scores and valuation by discounted cash flow (DCF).
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and investments | 3.2 bn | 2.8 bn | 2.4 bn | 2.4 bn | 4.8 bn |
| Total Debt | 16.9 bn | 16.4 bn | 18.2 bn | 17.4 bn | 20.4 bn |
| Net Debt | 13.6 bn | 13.6 bn | 15.9 bn | 15.0 bn | 15.7 bn |
| Equity | 17.4 bn | 19.6 bn | 20.1 bn | 19.6 bn | 18.0 bn |
| Total assets | 49.8 bn | 53.4 bn | 56.4 bn | 55.1 bn | 55.0 bn |
| Operating cash flow | 4.2 bn | 4.5 bn | 4.4 bn | 5.5 bn | 5.0 bn |
| Investments (capex) | 1.6 bn | 2.0 bn | 2.4 bn | 2.5 bn | 2.4 bn |
| Free cash-flow | 2.6 bn | 2.5 bn | 1.8 bn | 3.3 bn | 2.6 bn |
| Share buybacks | 0 | 43.0 m | 942 m | 5.0 m | 701 m |
| Dividends paid | 796 m | 1.1 bn | 1.3 bn | 1.2 bn | 1.3 bn |
Amounts in EUR, currency of the published accounts.
Trailing 12-month ratios
Altman Z: default risk estimated from the balance sheet and earnings. Piotroski: 9 tests on profitability, debt and efficiency. DCF: estimated value from discounted future cash flows, a model and not a forecast. Source: annual accounts published by the company, data as of 09/11/2026.
Valuation and competitors
Heineken N.V. compared with its sector on the same exchange and with its main competitors.
Direct competitors
| Company | Market cap (USD) | P/E | Net margin |
|---|---|---|---|
| Heineken N.V. | 49.2 bn | 19.5 | 6.6 % |
| Anheuser-Busch InBev SA/NV ABI.BR | 141 bn | 20.6 | 11.5 % |
| Carlsberg A/S CARL-B.CO | 19.2 bn | 20.2 | 6.7 % |
| Constellation Brands, Inc. STZ | 22.9 bn | 11.3 | -0.8 % |
| Pernod Ricard S.A. RI.PA | 19.1 bn | 14.2 | 14.8 % |
| Brown-Forman Corporation BF-B | 13.3 bn | 18.8 | 21.9 % |
Trailing 12-month P/E. Sector: median of companies in the same sector listed on the same exchange, collected on 06/11/2026. Competitors: comparable companies named by the data provider.
Analyst consensus and forecasts
What the financial analysts covering Heineken N.V. publish: ratings, price targets and earnings forecasts.
Breakdown of ratings
Price targets: published for companies listed in the United States only.
Analyst forecasts
| Fiscal year | Revenue | Net income | Expected EPS (range) | P/E on this EPS | Analysts |
|---|---|---|---|---|---|
| 2026 | 30.9 bn | 2.9 bn | 5.26 (5.09 / 5.43) | 15.1 | 16 |
| 2027 | 32.1 bn | 3.1 bn | 5.69 (5.38 / 6.28) | 14.0 | 16 |
| 2028 | 33.2 bn | 3.3 bn | 6.14 (5.41 / 7.48) | 12.9 | 11 |
Amounts in EUR, the reporting currency.
Track record against expectations: reported EPS above consensus 7 times over the last 12 releases.
Source: ratings and forecasts published by analysts, collected on 07/11/2026. An analyst rating or target is not a guarantee.
Dividends and earnings
Heineken N.V.: dividend history, last distributions, stock splits and earnings releases.
Annual dividend per share (EUR), adjusted for splits. Light bar: current year, incomplete. Red bar: lower than the previous year.
Latest ex-dividend dates
| Ex-dividend | Amount | Payment |
|---|---|---|
| 07/08/2026 | 0.760 EUR | 17/08/2026 |
| 27/04/2026 | 1.16 EUR | 05/05/2026 |
| 30/07/2025 | 0.740 EUR | 07/08/2025 |
| 23/04/2025 | 1.17 EUR | 02/05/2025 |
| 31/07/2024 | 0.690 EUR | 08/08/2024 |
| 29/04/2024 | 1.04 EUR | 07/05/2024 |
| 02/08/2023 | 0.690 EUR | 10/08/2023 |
| 24/04/2023 | 1.23 EUR | 02/05/2023 |
Earnings releases
| Date | Published EPS | Expected EPS | Surprise |
|---|---|---|---|
| 05/08/2026 | 2.03 | 2.23 | -9.0 % |
| 11/02/2026 | 2.67 | 2.58 | +3.5 % |
| 28/07/2025 | 2.12 | 2.12 | 0.0 % |
| 15/02/2025 | 2.71 | 2.41 | +12.4 % |
| 23/10/2024 | 2.15 | 2.16 | -0.5 % |
| 29/07/2024 | 2.10 | 2.11 | -0.5 % |
Stock splits
| Date | Operation |
|---|---|
| 04/05/2004 | split: 5 shares for 4 |
Factual data: ex-dividend history and earnings calendar, as of 05/11/2026. A past dividend does not guarantee the next one.
Who owns the stock
Free float, institutional investors, large funds, executives and elected officials: declared positions in Heineken N.V.
Sources: 13F filings (quarter shown), executives' Form 4 filings and US Congress members' disclosures, collected on 07/11/2026. Detailed disclosure obligations mainly apply to companies listed in the United States.
PEA and practical information
Rule applied: the French PEA accepts shares of companies headquartered in the European Union or the European Economic Area and subject to corporate income tax; ADRs and tax-exempt property companies (SIIC) are excluded. The institution holding the PEA confirms eligibility.
Frequently asked questions about Heineken N.V.
What is the Heineken N.V. share price?
Latest recorded price: 83.58 EUR on 06/11/2026, for a market cap of 51.5 bn USD.
What is the revenue of Heineken N.V.?
32.1 bn USD for fiscal year 2025, with net income of 2.1 bn USD (net margin 6.6 %).
Does Heineken N.V. pay a dividend?
Yes. Latest dividend: 0.760 EUR per share, ex-dividend on 07/08/2026. Over 12 months: 1.92 EUR. Yield on the latest known price: 3.3 %.
When does Heineken N.V. report its next earnings?
The next release is expected on 10/02/2027. EPS expected by analysts: 2.99.
What do analysts say about Heineken N.V.?
Out of 6 analysts: 4 buy or strong buy, 1 hold, 1 sell or strong sell.
What is the P/E ratio of Heineken N.V.?
Trailing 12-month P/E of 20.4.
Is Heineken N.V. stock eligible for the French PEA?
Likely: the company is headquartered in the European Union or the European Economic Area (ISIN NL0000009165) and the stock is listed on a European exchange. The institution holding the PEA confirms eligibility.
How many employees does Heineken N.V. have?
89,264 full-time employees according to the latest published profile.
Who runs Heineken N.V.?
Rudolf Gijsbert Servaas van den Brink is the company's chief executive.