Heineken N.V.
Built from real-time financials, refreshed daily. For a full Analyst Grade with bull/bear case, price targets, and qualitative risk analysis, generate a HEINY research report →
Price Chart
About the company
Heineken N. V. specializes in the production and global distribution of alcoholic beverages, primarily beer and cider, supplemented by non-alcoholic options such as soft drinks and water.
- CEO
- Rudolf Gijsbert Servaas van den Brink
- IPO
- 1996
- Employees
- 87,160
- HQ
- Amsterdam, NH, NL
Get TickerSpark's AI analysis on HEINY
Create an account to generate AI analysis on any ticker — technical setup, analyst consensus, earnings watch, insider pulse, financial health, and peer context. Ready in about a minute.
Get Pro Access →Already have an account? Log in
Similar companies
Peers in the same neighborhood.
- Market Cap
- $46.72B
- P/E
- 17.55
- Fwd P/E
- 16.23
- PEG
- 0.30
- P/S
- 1.09
- P/B
- 2.06
- EV/EBITDA
- 9.67
- Div Yield
- 1.06%
- Gross Margin
- 25.83%
- Op Margin
- 11.79%
- Net Margin
- 6.21%
- ROE
- 12.22%
- ROIC
- 6.77%
Latest fiscal year · YoY change
- Revenue
- $28.75B-3.6%
- Gross Profit
- $10.29B-2.1%
- Op Income
- $3.41B
- Net Income
- $1.89B+92.7%
- EPS
- $1.63+85.7%
- OCF Growth
- -8.9%
- FCF Growth
- -14.1%
- 52W High
- $47.63
- 52W Low
- $37.03
- 50D MA
- $43.00
- 200D MA
- $41.08
- Beta
- 0.57
- RSI (14)
- 39
- Avg Volume
- 122.81K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Heineken delivered solid first-half profit growth and reaffirmed full-year operating profit guidance, but expects tougher second-half comps from tariffs, FX and Europe recovery timing.· July 28, 2025
- H1 organic net revenue rose 2.1% to EUR 14.2 billion, operating profit grew 7.4% to EUR 2 billion, and operating margin improved to 14.3%.
- Volume trends improved in Q2, with total consolidated volume broadly flat in the quarter after a weaker Q1; full-year volumes are now expected to be broadly stable.
- Heineken brand volume grew 4.5%, with strength in Nigeria and APAC; Amstel and 0.0 also remained strategic focus areas.
- Africa/Middle East drove outsized profit growth, while Europe was pressured by prolonged customer negotiations that are now resolved.
- Management raised 2025 gross savings ambition from EUR 400 million to over EUR 500 million and kept full-year operating profit growth guidance at 4% to 8%.
For H1 2025, Heineken reported organic net revenue growth of 2.1% to EUR 14.2 billion, operating profit (beia) growth of 7.4% to EUR 2 billion, operating margin of 14.3% (up 26 bps), and net profit (beia) growth of 7.5% to EUR 1.64 billion. Diluted EPS (beia) was EUR 2.08 for the half year. Total consolidated volume declined 1.1% in the first half, but Q2 was broadly flat; Heineken brand volume rose 4.5%, and price/mix was up 3.7% on a constant geographic basis. Looking ahead, management reaffirmed full-year 2025 operating profit (beia) organic growth guidance of 4% to 8%, expects net profit to grow broadly in line, and now expects full-year volumes to be broadly stable. The company also raised its 2025 gross savings target to over EUR 500 million, kept full-year capex guidance unchanged, and expects free operating cash flow to be materially better in the second half after H1 free operating cash inflow of EUR 257 million.
Dolf van den Brink framed the quarter as solid execution in a turbulent environment, emphasizing that Heineken is progressing on EverGreen and using its global footprint to balance growth across regions. He highlighted improving volume momentum in Q2, a strong Heineken brand, and ongoing investment in brands, innovation and digital transformation. His tone was confident but cautious, repeatedly stressing that macro conditions remain challenging and that the company is focused on quality growth rather than chasing volume at any cost.
Harold van den Broek detailed the H1 financial bridge: EUR 14.2 billion of net revenue, EUR 2 billion of operating profit, EUR 1.64 billion of net profit, and a 14.3% operating margin. He said FX translation reduced reported revenue growth by EUR 918 million, gross savings reached over EUR 300 million in H1, and free operating cash flow was EUR 257 million versus EUR 655 million a year ago due to FX, working capital timing and project-related capex. He also noted net debt/EBITDA was 2.3x, below the long-term target of below 2.5x, and said the interim dividend is EUR 0.74 per share, up 7.2%.
Analysts focused on why H2 volume should improve, why full-year guidance was not narrowed despite better Q2 trends and higher savings, and what changed in management’s execution. Management pointed to resolved Europe retailer negotiations, stronger weather and on-trade trends, continued momentum in APAC and AME, and a more agile planning process with scenario-based resource allocation and reserved productivity savings. They also said H2 profit should be pressured by U.S. tariffs, rolling off hedges in Mexico and Brazil, and the fact that Africa’s exceptional H1 profit contribution will not repeat.
The bullish case is that Heineken is still posting solid profit growth while navigating a weak consumer backdrop, and that volume trends improved meaningfully in Q2. Management sees strength across APAC, resilience in the Americas, and a recovery path in Europe now that retailer disputes are resolved, while Heineken, Amstel and 0.0 remain long-term growth engines. The higher savings target and the strong balance sheet also support the idea that the company can keep funding growth and margin protection.
The main risks are that H2 will face more pressure from tariffs, FX headwinds, and easier comparisons from Africa’s exceptional performance in H1. Europe remains fragile, with management still cautious on the speed of volume recovery and profitability improvement, while the U.S. beer market is described as challenging. Cash flow was also weaker year over year because of working capital and capex timing, showing that the first-half earnings strength did not translate one-for-one into cash.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 92.7%
- Shares Outstanding
- 1.11B
- Float Shares
- 1.03B
of shares held by institutions
13 13F filers
Congressional trading
Senate and House stock disclosures for HEINY, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Daniel GoldmanHouse · NY10 | Sell | Jul 10, 23 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| First Horizon Advisors, Inc. | 845 | ▲ 361 |
| Financial Gravity Asset Management, Inc. | 382 | 0 |
Our HEINY coverage
Recent articles, reports, and earnings notes.
No research on HEINY yet
For a full analyst-grade research report — grades, price targets, financials, chart analysis — generate one on demand.
Generate HEINY report →Heineken: The Turnaround Is Brewing, But The Upside Looks Limited
seekingalpha.com · Aug 6
HEINEKEN N.V. GENERAL MEETING APPROVES APPOINTMENT RAFAEL OLIVEIRA AS MEMBER OF THE EXECUTIVE BOARD
globenewswire.com · Aug 5
Heineken first-half profit rises as 3,000 jobs slashed
reuters.com · Aug 5
F1 BUSINESS SUMMIT RETURNS TO FORMULA 1 HEINEKEN LAS VEGAS GRAND PRIX WEEKEND, NOVEMBER 19
prnewswire.com · Jul 28
Heineken is Trying a Heat Battery to Generate Steam for its Brewing
wsj.com · Jul 17
Heineken N.V. reports the progress of transactions under its current share buyback programme
globenewswire.com · Jul 13
Heineken N.V. reports the progress of transactions under its current share buyback programme
globenewswire.com · Jul 6
Heineken Calls on Brandon Burgess, Max Verstappen and Other Famous F1 Faces to Launch Search for the 2027 Heineken® x F1® Season Ticket Holder
globenewswire.com · Jul 2
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.