Heineken NVHEINY +1.75%71 EV-to-FCF is 22.26 as of Jul. 12, 2026, which is 24% below its 10-year median of 29.35. GuruFocus rates HEINY with a GF Score™ of 71/100 and a GF Value™ of $46.73 (Fairly Valued). The stock has 5 warning signs investors should review. Among 137 Beverages - Alcoholic companies, Heineken NV ranks worse than 63.5% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Heineken NV's Enterprise Value is $67,910 Mil.
Heineken NV's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was $3,051 Mil. Therefore, Heineken NV's EV-to-FCF for today is 22.26.
The historical rank and industry rank for Heineken NV's EV-to-FCF or its related term are showing as below:
HEINY'
s EV-to-FCF Range Over the Past 10 Years
Min: 17.76 Med: 29.35 Max: 49.83
Current: 22.71
During the past 13 years, the highest EV-to-FCF of Heineken NV was 49.83. The lowest was 17.76. And the median was 29.35.
HEINY's EV-to-FCF is ranked worse than 63.5% of 137
companies
in the Beverages - Alcoholic industry
Industry Median: 17.11
vs HEINY: 22.71
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 NV's PE Ratio (TTM) for today is calculated as:
Heineken NV's share price for today is $43.49.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Heineken NV's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was $1.967.
* 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 NV EV-to-FCF Related Terms
Heineken NV EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Heineken 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 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 NV EV-to-FCF vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Heineken NV's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Heineken NV's EV-to-FCF falls into.
Heineken NV's current Enterprise Value is $67,910 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Heineken NV's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was $3,051 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 NV (HEINY) has a EV-to-FCF of 22.26 as of Jul. 12, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Heineken NV and its competitors. This is 24% below median its historical median of 29.35. Over the past decade, Heineken NV's EV-to-FCF has ranged from 17.76 to 49.83. According to the industry distribution chart, Heineken NV ranks #87 out of 137 companies in the Beverages - Alcoholic industry, placing it in the top 63.5%.
Is Heineken NV's EV-to-FCF too high?
Heineken NV's current EV-to-FCF of 22.26 is 24% below median its 10-year median of 29.35. Over the past 10 years, this metric has ranged from a low of 17.76 to a high of 49.83. The Beverages - Alcoholic industry median EV-to-FCF is 17.11. Heineken NV's value of 22.26 is 30.1% above this industry median. Based on the distribution chart, Heineken NV ranks #87 out of 137 companies in the Beverages - Alcoholic industry, which is below the industry midpoint. Overall, Heineken NV has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Heineken NV's EV-to-FCF compare to BUD and STZ?
According to the Beverages - Alcoholic industry distribution chart, Heineken NV ranks #87 out of 137 companies for EV-to-FCF. This places Heineken NV in the lower half of its industry. The industry median EV-to-FCF is 17.11. Heineken NV's value of 22.26 is 30.1% above this benchmark. Historically, Heineken NV's own EV-to-FCF has ranged from 17.76 to 49.83 over the past decade. While the company's 10-year median is 29.35 vs. the industry median of 17.11, Heineken 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 NV's current EV-to-FCF of 22.26 is 30.1% 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 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 NV's current EV-to-FCF is 22.26, which is 24% below median its own 10-year median of 29.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heineken NV stock overvalued right now?
Based on GuruFocus' analysis, Heineken NV (HEINY) is currently considered Fairly Valued. The stock's GF Value™ is $46.73, compared to a current price of $43.49 — trading 6.9% below its estimated fair value. The current EV-to-FCF is 22.26, which is 24% below median its 10-year median of 29.35 and 30.1% above the Beverages - Alcoholic industry median of 17.11. Heineken NV's overall GF Score™ is 71/100 with 5 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 NV (HEINY), the current EV-to-FCF is 22.26 as of Jul. 12, 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 NV (HEINY) Overvalued in 2026?
Based on GuruFocus' analysis, Heineken NV stock appears to be undervalued.
The current stock price of $43.49 is trading 6.9% below its estimated GF Value™ of $46.73.
GuruFocus considers Heineken NV to be Fairly Valued.
Key valuation signals for HEINY:
EV-to-FCF: 22.26 (24% below median its 10-year median of 29.35)
GF Value™: $46.73 vs. price of $43.49 (6.9% below fair value)
Industry Position: 30.1% above the Beverages - Alcoholic median (#87 of 137)
No single metric tells the full story. See the HEINY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
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