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Heineken Overview
About Heineken
Heineken is the world’s second-largest brewer behind Anheuser-Busch InBev. It has the leading position in many European markets, including the Netherlands, Austria, Greece, and Italy. Its flagship brand, Heineken, is the world's leading international premium lager by volume and has spawned several brand extensions including Heineken 0.0 and Heineken Silver. Heineken is the world's biggest cider producer. Its portfolio also includes brands in the nonalcoholic, Belgian, and craft beer categories.
Founded
1864
HQ
Employees
87.9K
Website
Sectors
Financials (LTM)
EV
$66B
Heineken Financials
Heineken reported last 12-month revenue of $34B and EBITDA of $8B.
In the same LTM period, Heineken generated $23B in gross profit, $8B in EBITDA, and $2B in net income.
Revenue (LTM)
Heineken P&L
In the most recent fiscal year, Heineken reported revenue of $34B and EBITDA of $8B.
Heineken expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $34B | XXX | $34B | XXX | XXX | XXX |
| Gross Profit | $23B | XXX | $12B | XXX | XXX | XXX |
| Gross Margin | 67% | XXX | 35% | XXX | XXX | XXX |
| EBITDA | $8B | XXX | $8B | XXX | XXX | XXX |
| EBITDA Margin | 22% | XXX | 22% | XXX | XXX | XXX |
| EBIT Margin | 15% | XXX | 15% | XXX | XXX | XXX |
| Net Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Net Margin | 7% | XXX | 7% | XXX | XXX | XXX |
| Net Debt | — | — | $15B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Heineken Stock Performance
Heineken has current market cap of $50B, and enterprise value of $66B.
Market Cap Evolution
Heineken's stock price is $88.47.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $66B | $50B | (0.6%) | XXX | XXX | XXX | $3.99 |
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Start Free TrialHeineken Valuation Multiples
Heineken trades at 1.9x EV/Revenue multiple, and 8.6x EV/EBITDA.
EV / Revenue (LTM)
Heineken Financial Valuation Multiples
As of March 13, 2026, Heineken has market cap of $50B and EV of $66B.
Equity research analysts estimate Heineken's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Heineken has a P/E ratio of 20.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $50B | XXX | $50B | XXX | XXX | XXX |
| EV (current) | $66B | XXX | $66B | XXX | XXX | XXX |
| EV/Revenue | 1.9x | XXX | 1.9x | XXX | XXX | XXX |
| EV/EBITDA | 8.6x | XXX | 8.7x | XXX | XXX | XXX |
| EV/EBIT | 12.6x | XXX | 12.7x | XXX | XXX | XXX |
| EV/Gross Profit | 2.9x | XXX | 5.6x | XXX | XXX | XXX |
| P/E | 20.7x | XXX | 22.2x | XXX | XXX | XXX |
| EV/FCF | 19.9x | XXX | 20.2x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Heineken Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Heineken Margins & Growth Rates
Heineken's revenue in the last 12 month grew by 4%.
Heineken's revenue per employee in the last FY averaged $0.4M.
Heineken's rule of 40 is 26% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Heineken's rule of X is 32% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Heineken Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4% | XXX | 4% | XXX | XXX | XXX |
| EBITDA Margin | 22% | XXX | 22% | XXX | XXX | XXX |
| EBITDA Growth | 6% | XXX | 6% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 26% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 32% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 16% | XXX | — | XXX | XXX | XXX |
| G&A Expenses to Revenue | 21% | XXX | — | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 24% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Heineken Public Comps
See public comps and valuation multiples for other Alcohol comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Ambev | XXX | XXX | XXX | XXX | XXX | XXX |
| Diageo | XXX | XXX | XXX | XXX | XXX | XXX |
| Wuliangye | XXX | XXX | XXX | XXX | XXX | XXX |
| Backus | XXX | XXX | XXX | XXX | XXX | XXX |
| Xinghuacun Fenjiu | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Heineken M&A Activity
Heineken acquired XXX companies to date.
Last acquisition by Heineken was on XXXXXXXX, XXXXX. Heineken acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Heineken
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialHeineken Investment Activity
Heineken invested in XXX companies to date.
Heineken made its latest investment on XXXXXXXX, XXXXX. Heineken invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Heineken
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Heineken
| When was Heineken founded? | Heineken was founded in 1864. |
| Where is Heineken headquartered? | Heineken is headquartered in Netherlands. |
| How many employees does Heineken have? | As of today, Heineken has over 87K employees. |
| Is Heineken publicly listed? | Yes, Heineken is a public company listed on Euronext Amsterdam. |
| What is the stock symbol of Heineken? | Heineken trades under HEIA ticker. |
| When did Heineken go public? | Heineken went public in 1939. |
| Who are competitors of Heineken? | Heineken main competitors are Ambev, Diageo, Wuliangye, Backus. |
| What is the current market cap of Heineken? | Heineken's current market cap is $50B. |
| What is the current revenue of Heineken? | Heineken's last 12 months revenue is $34B. |
| What is the current revenue growth of Heineken? | Heineken revenue growth (NTM/LTM) is 4%. |
| What is the current EV/Revenue multiple of Heineken? | Current revenue multiple of Heineken is 1.9x. |
| Is Heineken profitable? | Yes, Heineken is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Heineken? | Heineken's last 12 months EBITDA is $8B. |
| What is Heineken's EBITDA margin? | Heineken's last 12 months EBITDA margin is 22%. |
| What is the current EV/EBITDA multiple of Heineken? | Current EBITDA multiple of Heineken is 8.6x. |
| What is the current FCF of Heineken? | Heineken's last 12 months FCF is $3B. |
| What is Heineken's FCF margin? | Heineken's last 12 months FCF margin is 10%. |
| What is the current EV/FCF multiple of Heineken? | Current FCF multiple of Heineken is 19.9x. |
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