Valuation Heineken Holding N.V.

Equities

Market Closed - Euronext Amsterdam Other stock markets 16:55:00 17/02/2026 GMT			5-day change	1st Jan Change
71.30 ^EUR	+0.49%		+6.02%	+14.26%

02-17	Heineken Launches EUR1 Billion Dual-tranche Notes Placement	MT
02-13	Heineken Forecasts Updated as Berenberg Notes 'Cause for Optimism' in FY26	MT

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	23,374	20,753	22,063	16,364	17,412	19,790	-	-
Change	-	-11.21%	6.32%	-25.83%	6.41%	13.65%	-	-
Enterprise Value (EV)	36,999	34,050	22,063	16,364	17,412	19,790	19,790	19,790
Change	-	-7.97%	-35.2%	-25.83%	6.41%	13.65%	0%	0%
P/E ratio	14.1x	15.5x	18.6x	32.9x	18.4x	14.1x	12.6x	11x
PBR	2.72x	2.12x	-	-	-	-	-	-
PEG	-	-0.8x	-1.6x	-0.6x	0.2x	0.3x	1x	0.8x
Capitalization / Revenue	0.88x	0.6x	-	-	0.51x	0.64x	0.62x	0.58x
EV / Revenue	0x	0x	-	-	0x	0.64x	0.62x	0.58x
EV / EBITDA	0x	0x	-	-	0x	2.77x	2.64x	-
EV / EBIT	0x	0x	-	-	0x	4.22x	3.89x	3.58x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Dividend per Share ²	1.24	1.73	-	-	-	2.05	2.15	-
Rate of return	1.53%	2.4%	-	-	-	2.88%	3.02%	-
EPS ²	5.77	4.66	4.12	1.76	3.39	5.05	5.67	6.5
Distribution rate	21.5%	37.1%	-	-	-	40.6%	37.9%	-
Net sales ¹	26,583	34,676	-	-	34,395	30,760	32,008	34,391
EBITDA ¹	5,373	6,388	-	-	6,247	7,134	7,502	-
EBIT ¹	3,414	4,502	-	-	3,406	4,688	5,093	5,523
Net income ¹	1,663	1,343	-	-	952	2,739	2,974	3,233
Net Debt	13,625	13,297	-	-	-	-	-	-
Reference price ²	81.15	72.05	76.60	57.85	62.40	71.30	71.30	71.30
Nbr of stocks (in thousands)	288,030	288,030	288,030	282,873	279,046	277,557	-	-
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 (N)	EV / Sales (N)	EV / EBITDA (N)	Dividend Yield (N)	Capi.($)
HEINEKEN HOLDING N.V.	14.05x	-	-	2.89%	23.34B
ANHEUSER-BUSCH INBEV SA/NV	18.07x	3.36x	9.25x	1.74%	155B
HEINEKEN N.V.	17.02x	1.96x	8.67x	2.55%	51.41B
AMBEV S.A.	16.21x	2.55x	7.75x	5.3%	48.76B
CONSTELLATION BRANDS, INC.	14.5x	4.05x	10.98x	2.74%	25.89B
CARLSBERG A/S	16.49x	2.08x	9.7x	3.11%	21.49B
ASAHI GROUP HOLDINGS, LTD.	14.67x	1.26x	8.89x	3.04%	15.96B
KIRIN HOLDINGS COMPANY, LIMITED	14.57x	1.21x	9.16x	2.81%	14.15B
BUDWEISER BREWING COMPANY APAC LIMITED	21.91x	1.86x	6.74x	5.22%	13.36B
Average	16.39x	2.29x	8.89x	3.27%	41.08B
Weighted average by Cap.	16.94x	2.77x	8.99x	2.77%