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Heineken sold 243 million hectoliters of beer in 2023, and 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, and its portfolio also includes brands in the nonalcoholic, Belgian, and craft beer categories.
1864
88.5K+
LTM Revenue $38.1B
LTM EBITDA $7.2B
$64.6B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Heineken has a last 12-month revenue of $38.1B and a last 12-month EBITDA of $7.2B.
In the most recent fiscal year, Heineken achieved revenue of $32.6B and an EBITDA of $5.8B.
Heineken expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Heineken valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $33.2B | $32.6B | XXX | XXX | XXX |
| Gross Profit | $11.0B | $11.2B | XXX | XXX | XXX |
| Gross Margin | 33% | 34% | XXX | XXX | XXX |
| EBITDA | $6.6B | $5.8B | XXX | XXX | XXX |
| EBITDA Margin | 20% | 18% | XXX | XXX | XXX |
| Net Profit | $2.9B | $2.5B | XXX | XXX | XXX |
| Net Margin | 9% | 8% | XXX | XXX | XXX |
| Net Debt | $13.5B | $15.9B | XXX | XXX | XXX |
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As of March 14, 2025, Heineken's stock price is EUR 79 (or $86).
Heineken has current market cap of EUR 44.4B (or $48.5B), and EV of EUR 59.1B (or $64.6B).
See Heineken trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $64.6B | $48.5B | XXX | XXX | XXX | XXX | $5.40 |
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Sign UpAs of March 14, 2025, Heineken has market cap of $48.5B and EV of $64.6B.
Heineken's trades at 1.7x LTM EV/Revenue multiple, and 8.9x LTM EBITDA.
Analysts estimate Heineken's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Heineken and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $64.6B | XXX | XXX | XXX |
| EV/Revenue | 2.0x | XXX | XXX | XXX |
| EV/EBITDA | 11.1x | XXX | XXX | XXX |
| P/E | 45.4x | XXX | XXX | XXX |
| P/E/Growth | 0.6x | XXX | XXX | XXX |
| EV/FCF | 19.5x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpHeineken's NTM/LTM revenue growth is -11%
Heineken's revenue per employee for the last fiscal year averaged $0.4M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, Heineken's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Heineken's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Heineken and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -2% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -12% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 7% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.4M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 24% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Endeavour Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Treasury Wine Estates | XXX | XXX | XXX | XXX | XXX | XXX |
| United Spirits | XXX | XXX | XXX | XXX | XXX | XXX |
| United Breweries | XXX | XXX | XXX | XXX | XXX | XXX |
| Radico Khaitan | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Heineken acquired XXX companies to date.
Last acquisition by Heineken was XXXXXXXX, XXXXX XXXXX XXXXXX . Heineken acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| 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 88.5K+ employees. |
| Is Heineken publicy listed? | Yes, Heineken is a public company listed on AMS. |
| 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? | Similar companies to Heineken include e.g. Endeavour Group, Treasury Wine Estates, United Spirits, United Breweries. |
| What is the current market cap of Heineken? | Heineken's current market cap is $48.5B |
| What is the current revenue of Heineken? | Heineken's last 12-month revenue is $38.1B. |
| What is the current EBITDA of Heineken? | Heineken's last 12-month EBITDA is $7.2B. |
| What is the current EV/Revenue multiple of Heineken? | Current revenue multiple of Heineken is 1.7x. |
| What is the current EV/EBITDA multiple of Heineken? | Current EBITDA multiple of Heineken is 8.9x. |
| What is the current revenue growth of Heineken? | Heineken revenue growth between 2023 and 2024 was -2%. |
| Is Heineken profitable? | Yes, Heineken is EBITDA-positive (as of the last 12 months). |
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