Heineken NV (HEIAN) Ratios
Heineken NV Ratios
MX:HEIAN's free cash flow for Q2 2026 was $1.48B. For the 2026 fiscal year, MX:HEIAN's free cash flow was decreased by $-1.00B and operating cash flow was $2.48B. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 0.93 | 0.77 | 0.77 | 0.78 | 0.79 |
| Quick Ratio | 0.69 | 0.51 | 0.52 | 0.55 | 0.59 |
| Cash Ratio | 0.34 | 0.17 | 0.16 | 0.19 | 0.27 |
| Solvency Ratio | 0.13 | 0.11 | 0.13 | 0.15 | 0.17 |
| Operating Cash Flow Ratio | 0.36 | 0.39 | 0.30 | 0.32 | 0.35 |
| Short-Term Operating Cash Flow Coverage | 1.83 | 1.68 | 1.14 | 1.43 | 1.40 |
| Net Current Asset Value | $ -21.45B | $ -21.77B | $ -22.20B | $ -20.48B | $ -20.54B |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.37 | 0.32 | 0.32 | 0.31 | 0.34 |
| Debt-to-Equity Ratio | 1.14 | 0.89 | 0.91 | 0.84 | 0.97 |
| Debt-to-Capital Ratio | 0.53 | 0.47 | 0.48 | 0.46 | 0.49 |
| Long-Term Debt-to-Capital Ratio | 0.47 | 0.39 | 0.39 | 0.38 | 0.42 |
| Financial Leverage Ratio | 3.06 | 2.81 | 2.81 | 2.73 | 2.87 |
| Debt Service Coverage Ratio | 1.58 | 1.13 | 1.11 | 1.46 | 1.62 |
| Interest Coverage Ratio | 5.29 | 5.17 | 5.05 | 8.91 | 7.15 |
| Debt to Market Cap | 0.49 | 0.42 | 0.33 | 0.30 | 0.28 |
| Interest Debt Per Share | 37.88 | 32.21 | 33.50 | 29.25 | 30.11 |
| Net Debt to EBITDA | 2.53 | 2.84 | 3.08 | 2.12 | 2.13 |
| Profitability Margins | |||||
| Gross Profit Margin | 35.78% | 35.24% | 35.25% | 39.56% | 38.72% |
| EBIT Margin | 12.66% | 9.01% | 9.70% | 15.34% | 20.54% |
| EBITDA Margin | 21.58% | 17.75% | 16.95% | 22.32% | 28.85% |
| Operating Profit Margin | 11.85% | 11.79% | 10.64% | 14.21% | 14.93% |
| Pretax Profit Margin | 10.42% | 6.73% | 8.31% | 13.74% | 18.45% |
| Net Profit Margin | 6.56% | 3.28% | 7.59% | 9.34% | 15.02% |
| Continuous Operations Profit Margin | 7.44% | 3.89% | 7.91% | 10.58% | 15.97% |
| Net Income Per EBT | 62.94% | 48.73% | 91.36% | 67.95% | 81.39% |
| EBT Per EBIT | 87.93% | 57.07% | 78.10% | 96.72% | 123.57% |
| Return on Assets (ROA) | 3.43% | 1.78% | 4.09% | 5.02% | 6.67% |
| Return on Equity (ROE) | 10.49% | 4.99% | 11.49% | 13.72% | 19.15% |
| Return on Capital Employed (ROCE) | 8.30% | 8.61% | 7.77% | 10.40% | 8.76% |
| Return on Invested Capital (ROIC) | 5.51% | 4.58% | 6.72% | 6.82% | 6.49% |
| Return on Tangible Assets | 5.39% | 2.93% | 6.66% | 13.57% | 19.27% |
| Earnings Yield | 4.85% | 2.54% | 4.49% | 5.30% | 5.84% |
| Efficiency Ratios | |||||
| Receivables Turnover | 6.86 | 7.12 | 8.99 | 9.20 | 6.80 |
| Payables Turnover | 3.17 | 3.23 | 3.43 | 2.97 | 2.93 |
| Inventory Turnover | 5.66 | 5.41 | 5.28 | 5.34 | 5.56 |
| Fixed Asset Turnover | 1.98 | 2.03 | 2.06 | 2.11 | 1.79 |
| Asset Turnover | 0.52 | 0.54 | 0.54 | 0.54 | 0.44 |
| Working Capital Turnover Ratio | -13.14 | -8.82 | -9.20 | -10.09 | -10.15 |
| Cash Conversion Cycle | 2.50 | 5.67 | 3.19 | -15.06 | -5.35 |
| Days of Sales Outstanding | 53.24 | 51.30 | 40.58 | 39.65 | 53.65 |
| Days of Inventory Outstanding | 64.50 | 67.51 | 69.09 | 68.34 | 65.60 |
| Days of Payables Outstanding | 115.24 | 113.13 | 106.48 | 123.06 | 124.60 |
| Operating Cycle | 117.74 | 118.80 | 109.67 | 108.00 | 119.25 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | 9.00 | 9.82 | 7.86 | 7.81 | 7.26 |
| Free Cash Flow Per Share | 4.69 | 5.42 | 3.11 | 4.32 | 4.49 |
| Dividend Paid and CapEx Coverage Ratio | 1.36 | 1.50 | 1.10 | 1.45 | 1.75 |
| Capital Expenditure Coverage Ratio | 2.09 | 2.23 | 1.65 | 2.24 | 2.62 |
| Operating Cash Flow Coverage Ratio | 0.25 | 0.32 | 0.24 | 0.27 | 0.25 |
| Operating Cash Flow to Sales Ratio | 0.17 | 0.18 | 0.15 | 0.16 | 0.19 |
| Free Cash Flow Yield | 6.72% | 7.89% | 3.42% | 4.91% | 4.54% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | 20.57 | 39.26 | 22.27 | 18.86 | 17.12 |
| Price-to-Sales (P/S) Ratio | 1.35 | 1.29 | 1.69 | 1.76 | 2.57 |
| Price-to-Book (P/B) Ratio | 2.16 | 1.97 | 2.56 | 2.59 | 3.28 |
| Price-to-Free Cash Flow (P/FCF) Ratio | 14.88 | 12.67 | 29.27 | 20.35 | 22.03 |
| Price-to-Operating Cash Flow Ratio | 7.75 | 6.99 | 11.58 | 11.25 | 13.61 |
| Price-to-Earnings Growth (PEG) Ratio | 0.22 | -0.69 | -1.82 | -0.98 | -0.01 |
| Enterprise Value Multiple | 8.78 | 10.11 | 13.05 | 10.01 | 11.05 |
| Enterprise Value | 54.51B | 53.50B | 67.17B | 64.19B | 70.54B |
| EV to EBITDA | 8.78 | 10.11 | 13.05 | 10.01 | 11.05 |
| EV to Sales | 1.90 | 1.79 | 2.21 | 2.24 | 3.19 |
| EV to Free Cash Flow | 20.88 | 17.61 | 38.32 | 25.83 | 27.30 |
| EV to Operating Cash Flow | 10.87 | 9.72 | 15.16 | 14.28 | 16.87 |
| Tangible Book Value Per Share | 1.08 | 1.25 | 1.79 | -20.39 | -22.36 |
| Shareholders’ Equity Per Share | 32.29 | 34.95 | 35.60 | 33.97 | 30.15 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | 0.29 | 0.42 | 0.05 | 0.29 | 0.20 |
| Revenue Per Share | 51.64 | 53.23 | 53.89 | 49.90 | 38.45 |
| Net Income Per Share | 3.39 | 1.75 | 4.09 | 4.66 | 5.77 |
| Tax Burden | 0.63 | 0.49 | 0.91 | 0.68 | 0.81 |
| Interest Burden | 0.82 | 0.75 | 0.86 | 0.90 | 0.90 |
| Research & Development to Revenue | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 |
| SG&A to Revenue | 0.24 | 0.24 | 0.00 | 0.00 | 0.00 |
| Stock-Based Compensation to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Quality | 2.34 | 4.74 | 1.92 | 1.68 | 1.26 |
Currency in EUR