Heineken Holding NVFRA:4H5 -1.52%83 EV-to-FCF is 17.30 as of Jul. 13, 2026, which is 15% below its 10-year median of 20.46. GuruFocus rates FRA:4H5 with a GF Score™ of 83/100 and a GF Value™ of €71.13 (Fairly Valued). The stock has 7 warning signs investors should review. Among 137 Beverages - Alcoholic companies, Heineken Holding NV ranks worse than 51.09% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Heineken Holding NV's Enterprise Value is €45,148 Mil.
Heineken Holding NV's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was €2,610 Mil. Therefore, Heineken Holding NV's EV-to-FCF for today is 17.30.
The historical rank and industry rank for Heineken Holding NV's EV-to-FCF or its related term are showing as below:
FRA:4H5'
s EV-to-FCF Range Over the Past 10 Years
Min: 14.15 Med: 20.46 Max: 31.25
Current: 17.3
During the past 13 years, the highest EV-to-FCF of Heineken Holding NV was 31.25. The lowest was 14.15. And the median was 20.46.
FRA:4H5's EV-to-FCF is ranked worse than 51.09% of 137
companies
in the Beverages - Alcoholic industry
Industry Median: 17.11
vs FRA:4H5: 17.30
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Heineken Holding NV's PE Ratio (TTM) for today is calculated as:
Heineken Holding NV's share price for today is €68.20.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Heineken Holding NV's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was €3.390.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Heineken Holding NV EV-to-FCF Related Terms
Heineken Holding NV EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Heineken Holding NV's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Beverages - Brewers subindustry, Heineken Holding NV's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Heineken Holding NV EV-to-FCF vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Heineken Holding NV's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Heineken Holding NV's EV-to-FCF falls into.
Heineken Holding NV's current Enterprise Value is €45,148 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Heineken Holding NV's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was €2,610 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Heineken Holding NV (FRA:4H5) has a EV-to-FCF of 17.30 as of Jul. 13, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Heineken Holding NV and its competitors. This is 15% below median its historical median of 20.46. Over the past decade, Heineken Holding NV's EV-to-FCF has ranged from 14.15 to 31.25. According to the industry distribution chart, Heineken Holding NV ranks #70 out of 137 companies in the Beverages - Alcoholic industry, placing it in the top 51.1%.
Is Heineken Holding NV's EV-to-FCF too high?
Heineken Holding NV's current EV-to-FCF of 17.30 is 15% below median its 10-year median of 20.46. Over the past 10 years, this metric has ranged from a low of 14.15 to a high of 31.25. The Beverages - Alcoholic industry median EV-to-FCF is 17.11. Heineken Holding NV's value of 17.30 is 1.1% above this industry median. Based on the distribution chart, Heineken Holding NV ranks #70 out of 137 companies in the Beverages - Alcoholic industry, which is below the industry midpoint. Overall, Heineken Holding NV has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Heineken Holding NV's EV-to-FCF compare to BUD and STZ?
According to the Beverages - Alcoholic industry distribution chart, Heineken Holding NV ranks #70 out of 137 companies for EV-to-FCF. This places Heineken Holding NV in the lower half of its industry. The industry median EV-to-FCF is 17.11. Heineken Holding NV's value of 17.30 is 1.1% above this benchmark. Historically, Heineken Holding NV's own EV-to-FCF has ranged from 14.15 to 31.25 over the past decade. While the company's 10-year median is 20.46 vs. the industry median of 17.11, Heineken Holding NV has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Beverages - Alcoholic company?
The median EV-to-FCF among Beverages - Alcoholic companies is 17.11, based on 137 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Heineken Holding NV's current EV-to-FCF of 17.30 is 1.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Heineken Holding NV and its competitors. For the Beverages - Alcoholic industry, the median EV-to-FCF is 17.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heineken Holding NV's current EV-to-FCF is 17.30, which is 15% below median its own 10-year median of 20.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heineken Holding NV stock overvalued right now?
Based on GuruFocus' analysis, Heineken Holding NV (FRA:4H5) is currently considered Fairly Valued. The stock's GF Value™ is €71.13, compared to a current price of €68.20 — trading 4.1% below its estimated fair value. The current EV-to-FCF is 17.30, which is 15% below median its 10-year median of 20.46 and 1.1% above the Beverages - Alcoholic industry median of 17.11. Heineken Holding NV's overall GF Score™ is 83/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Heineken Holding NV (FRA:4H5), the current EV-to-FCF is 17.30 as of Jul. 13, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Heineken Holding NV (FRA:4H5) Overvalued in 2026?
Based on GuruFocus' analysis, Heineken Holding NV stock appears to be undervalued.
The current stock price of €68.20 is trading 4.1% below its estimated GF Value™ of €71.13.
GuruFocus considers Heineken Holding NV to be Fairly Valued.
Key valuation signals for FRA:4H5:
EV-to-FCF: 17.30 (15% below median its 10-year median of 20.46)
GF Value™: €71.13 vs. price of €68.20 (4.1% below fair value)
Industry Position: 1.1% above the Beverages - Alcoholic median (#70 of 137)
No single metric tells the full story. See the FRA:4H5 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heineken Holding NV, through its subsidiary, is involved in the brewing and selling of beer and cider. It does not engage in operational activities and generates income almost exclusively by receiving Heineken dividends. The company has five reportable segments: Europe, Americas, Africa & Middle East, Asia Pacific and Heineken N.V. Head Office & Other/Eliminations. The majority of the revenue is generated from the Europe segment.
83GF Score
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