Valuation Heineken N.V.

Equities

Market Closed - Euronext Amsterdam Other stock markets 09:25:00 20/04/2026 pm IST			5-day change	1st Jan Change
69.08 ^EUR	+0.64%		+2.22%	-0.95%

13/04	From Walmart to Nestle, CEO churn sweeps global consumer goods makers	RE
13/04	Chinese electric truck maker Windrose completes first South America delivery	RE

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	56,918	50,583	52,101	38,487	38,598	37,560	-	-
Change	-	-11.13%	3%	-26.13%	0.29%	-2.69%	-	-
Enterprise Value (EV) ¹	70,543	64,114	67,936	53,138	53,077	54,104	53,104	51,726
Change	-	-9.11%	5.96%	-21.78%	-0.11%	1.93%	-1.85%	-2.59%
P/E ratio	17.1x	18.9x	22.5x	39.5x	20.6x	15.2x	13.9x	12.7x
PBR	3.28x	2.59x	2.58x	1.72x	2.16x	2.01x	1.86x	1.71x
PEG	-	-1x	-1.9x	-0.7x	0.2x	0.4x	1.5x	1.36x
Capitalization / Revenue	2.6x	1.76x	1.72x	1.07x	1.13x	1.23x	1.18x	1.14x
EV / Revenue	3.22x	2.23x	2.24x	1.48x	1.55x	1.76x	1.67x	1.57x
EV / EBITDA	13.9x	10.6x	9.5x	7.84x	7.97x	7.81x	7.3x	6.83x
EV / EBIT	20.7x	14.2x	15.3x	11.8x	12.1x	11.3x	10.5x	9.74x
EV / FCF	24.7x	23.7x	34x	17.5x	20.3x	18.7x	17.4x	16.2x
FCF Yield	4.05%	4.22%	2.94%	5.72%	4.92%	5.34%	5.74%	6.19%
Dividend per Share ²	1.24	1.73	1.73	1.86	1.9	2.004	2.137	2.243
Rate of return	1.25%	1.97%	1.88%	2.71%	2.72%	2.9%	3.09%	3.25%
EPS ²	5.77	4.65	4.09	1.74	3.38	4.548	4.97	5.433
Distribution rate	21.5%	37.2%	42.3%	107%	56.2%	44.1%	43%	41.3%
Net sales ¹	21,901	28,694	30,308	35,955	34,257	30,657	31,804	32,954
EBITDA ¹	5,087	6,055	7,154	6,780	6,658	6,923	7,275	7,575
EBIT ¹	3,414	4,502	4,443	4,512	4,385	4,802	5,052	5,308
Net income ¹	3,324	2,682	2,304	978	1,885	2,578	2,790	2,959
Net Debt ¹	13,625	13,531	15,835	14,651	14,479	16,543	15,544	14,166
Reference price ²	98.86	87.88	91.94	68.70	69.74	69.08	69.08	69.08
Nbr of stocks (in thousands)	5,75,740	5,75,595	5,66,680	5,60,214	5,53,454	5,43,721	-	-
Announcement Date	16/02/22	15/02/23	14/02/24	12/02/25	11/02/26	-	-	-

¹EUR in Million²EUR

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
HEINEKEN N.V.	15.09x	1.78x	7.89x	2.92%	4.49TCr
ANHEUSER-BUSCH INBEV SA/NV	17.48x	3.27x	9.01x	1.88%	15TCr
AMBEV S.A.	15.25x	2.38x	7.18x	5.91%	4.79TCr
CONSTELLATION BRANDS, INC.	15.71x	4.29x	11.64x	2.52%	2.81TCr
HEINEKEN HOLDING N.V.	12.57x	-	-	-	2.08TCr
CARLSBERG A/S	13.91x	1.87x	8.74x	3.7%	1.83TCr
ASAHI GROUP HOLDINGS, LTD.	15.56x	1.26x	9.06x	3.06%	1.53TCr
KIRIN HOLDINGS COMPANY, LIMITED	11.98x	1.16x	8.04x	3.07%	1.33TCr
TSINGTAO BREWERY COMPANY LIMITED	17.39x	1.7x	8.01x	4.05%	1.07TCr
Average	14.99x	2.21x	8.70x	3.39%	3.87TCr
Weighted average by Cap.	15.94x	2.71x	8.73x	2.94%