Heineken Holding NVFRA:4H5 -1.52%83 PB Ratio is 2.20 as of Jul. 13, 2026, which is 17% below its 10-year median of 2.66. 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 205 Beverages - Alcoholic companies, Heineken Holding NV ranks worse than 64.39% on this metric.
Heineken Holding NV stock PB Ratio (=2.22) is close to 3-year high of 2.42.
The historical rank and industry rank for Heineken Holding NV's PB Ratio or its related term are showing as below:
FRA:4H5'
s PB Ratio Range Over the Past 10 Years
Min: 1.65 Med: 2.66 Max: 3.81
Current: 2.22
During the past 13 years, Heineken Holding NV's highest PB Ratio was 3.81. The lowest was 1.65. And the median was 2.66.
FRA:4H5's PB Ratio is ranked worse than 64.39% of 205
companies
in the Beverages - Alcoholic industry
Industry Median: 1.6
vs FRA:4H5: 2.22
During the past 12 months, Heineken Holding NV's average Book Value Per Share Growth Rate was -8.00% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -2.70% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 5.60% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 4.20% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Heineken Holding NV was 190.70% per year. The lowest was -54.00% per year. And the median was 5.90% per year.
Back to Basics: PB Ratio
Heineken Holding NV (FRA:4H5) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Heineken Holding NV PB Ratio Related Terms
Heineken Holding NV PB Ratio Historical Data
* Premium members only.
The historical data trend for Heineken Holding NV's PB Ratio 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 PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Heineken Holding NV's PB Ratio distribution charts can be found below:
* The bar in red indicates where Heineken Holding NV's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Heineken Holding NV (FRA:4H5) has a PB Ratio of 2.20 as of Jul. 13, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Heineken Holding NV and its competitors. This is 17% below median its historical median of 2.66. Over the past decade, Heineken Holding NV's PB Ratio has ranged from 1.65 to 3.81. According to the industry distribution chart, Heineken Holding NV ranks #132 out of 205 companies in the Beverages - Alcoholic industry, placing it in the top 64.4%.
Is Heineken Holding NV's PB Ratio too high?
Heineken Holding NV's current PB Ratio of 2.20 is 17% below median its 10-year median of 2.66. Over the past 10 years, this metric has ranged from a low of 1.65 to a high of 3.81. The Beverages - Alcoholic industry median PB Ratio is 1.60. Heineken Holding NV's value of 2.20 is 37.5% above this industry median. Based on the distribution chart, Heineken Holding NV ranks #132 out of 205 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 PB Ratio compare to BUD and STZ?
According to the Beverages - Alcoholic industry distribution chart, Heineken Holding NV ranks #132 out of 205 companies for PB Ratio. This places Heineken Holding NV in the lower half of its industry. The industry median PB Ratio is 1.60. Heineken Holding NV's value of 2.20 is 37.5% above this benchmark. Historically, Heineken Holding NV's own PB Ratio has ranged from 1.65 to 3.81 over the past decade. While the company's 10-year median is 2.66 vs. the industry median of 1.60, 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 PB Ratio for a Beverages - Alcoholic company?
The median PB Ratio among Beverages - Alcoholic companies is 1.60, based on 205 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Heineken Holding NV's current PB Ratio of 2.20 is 37.5% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Heineken Holding NV and its competitors. For the Beverages - Alcoholic industry, the median PB Ratio is 1.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heineken Holding NV's current PB Ratio is 2.20, which is 17% below median its own 10-year median of 2.66. 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 PB Ratio is 2.20, which is 17% below median its 10-year median of 2.66 and 37.5% above the Beverages - Alcoholic industry median of 1.60. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Heineken Holding NV (FRA:4H5), the current PB Ratio is 2.20 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:
PB Ratio: 2.20 (17% below median its 10-year median of 2.66)
GF Value™: €71.13 vs. price of €68.20 (4.1% below fair value)
Industry Position: 37.5% above the Beverages - Alcoholic median (#132 of 205)
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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