Heineken Holding N.V. (AMS:HEIO)

Heineken Holding Financials Overview

Financials in millions EUR. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	29,414	28,753	29,821	30,362	28,719	21,941
Revenue Growth	2.30%	-3.58%	-1.78%	5.72%	30.89%	11.29%
Gross Profit Gross Profit Growth	10,878	10,625	10,796	10,703	10,397	8,615
Operating Income Operating Income Growth	4,078	3,802	3,836	3,864	4,041	3,256
Net Income Net Income Growth	1,140	952	498	1,174	1,343	1,663
Earnings Per Share EPS Growth	4.10	3.39	1.76	4.12	4.66	5.77
EPS Growth	21.16%	92.42%	-57.28%	-11.59%	-19.24%	-

Revenue by Geography

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Europe Europe Growth	14,091	14,108	14,615	14,988	14,222	12,168
Americas Americas Growth	10,378	9,744	10,637	10,705	9,626	7,400
Africa, Middle East & Eastern Europe Africa, Middle East & Eastern Europe Growth	5,377	5,261	5,004	5,260	4,868	3,828
Asia Pacific Asia Pacific Growth	5,563	5,656	6,347	6,179	6,706	3,931
Other/Eliminations Other/Eliminations Growth	-517	-512	-648	-757	-746	-744
Revenue (Total) Revenue (Total) Growth	30,096	28,958	29,901	30,755	28,866	23,462

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	2,844	4,816	2,350	2,377	2,765	3,248
Total Debt Total Debt Growth	20,644	19,279	17,049	18,238	16,377	16,873
Net Cash (Debt) Net Cash Growth	-17,800	-14,463	-14,699	-15,861	-13,612	-13,625
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-64.11	-51.45	-51.96	-55.86	-47.26	-47.30

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	5,808	5,012	5,503	4,430	4,496	4,181
Capital Expenditures CapEx Growth	-1,840	-2,133	-2,184	-2,434	-1,791	-1,324
Free Cash Flow Free Cash Flow Growth	3,968	2,879	3,319	1,996	2,705	2,857
Free Cash Flow Growth	37.83%	-13.26%	66.28%	-26.21%	-5.32%	74.74%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	36.98%	36.95%	36.20%	35.25%	36.20%	39.26%
Operating Margin	13.86%	13.22%	12.86%	12.73%	14.07%	14.84%
Pretax Margin	11.85%	10.42%	6.73%	8.31%	14.52%	19.75%
Profit Margin	3.88%	3.31%	1.67%	3.87%	4.68%	7.58%
FCF Margin	13.49%	10.01%	11.13%	6.57%	9.42%	13.02%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	1.900	1.900	1.860	1.730	1.730	1.240
Dividend Per Share Growth	9.25%	2.15%	7.51%	0%	39.52%	77.14%
Dividend Yield	2.50%	3.03%	3.21%	2.22%	2.40%	1.53%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	18.50	18.29	32.86	18.79	15.45	14.06
Forward PE	13.93	11.87	13.07	14.34	13.36	20.87
P/FCF Ratio	5.29	6.05	4.93	11.05	7.67	8.18
PS Ratio	0.71	0.61	0.55	0.73	0.72	1.07

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Aug 5, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every six months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Semi-annually

Last checked:

Oct 31, 2026

Data Sources Report a data error