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Heineken Holding NVFRA:4H5 -0.20%82 Return-on-Tangible-Asset is 3.54% as of Dec. 2025, which is 8% below its 10-year median of 3.85. GuruFocus rates FRA:4H5 with a GF Score™ of 82/100 and a GF Value™ of €72.66 (Fairly Valued). The stock has 8 warning signs investors should review. Among 213 Beverages - Alcoholic companies, Heineken Holding NV ranks worse than 52.11% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Heineken Holding NV's annualizedNet Income for the quarter that ended in Dec. 2025 was €1,144 Mil. Heineken Holding NV's average total tangible assets for the quarter that ended in Dec. 2025 was €32,284 Mil. Therefore, Heineken Holding NV's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 3.54%.
The historical rank and industry rank for Heineken Holding NV's Return-on-Tangible-Asset or its related term are showing as below:
FRA:4H5'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -0.37 Med: 3.85 Max: 6.05
Current: 2.96
During the past 13 years, Heineken Holding NV's highest Return-on-Tangible-Asset was 6.05%. The lowest was -0.37%. And the median was 3.85%.
FRA:4H5's Return-on-Tangible-Asset is ranked worse than 52.11% of 213
companies
in the Beverages - Alcoholic industry
Industry Median: 3.11
vs FRA:4H5: 2.96
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Heineken Holding NV Return-on-Tangible-Asset Related Terms
Heineken Holding NV Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Heineken Holding NV's Return-on-Tangible-Asset 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.
FRA:4H5 vs STZ, TAP: Return-on-Tangible-Asset Comparison
For the Beverages - Brewers subindustry, Heineken Holding NV's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Heineken Holding NV's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Heineken Holding NV's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is two times the semi-annual (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 3.54% mean?
Heineken Holding NV (FRA:4H5) has a Return-on-Tangible-Asset of 3.54% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Heineken Holding NV and its competitors. This is near median its historical median of 3.85. According to the industry distribution chart, Heineken Holding NV ranks #111 out of 213 companies in the Beverages - Alcoholic industry, placing it in the top 52.1%.
Is Heineken Holding NV's Return-on-Tangible-Asset too high?
Heineken Holding NV's current Return-on-Tangible-Asset of 3.54% is near median its 10-year median of 3.85. The Beverages - Alcoholic industry median Return-on-Tangible-Asset is 3.11. Heineken Holding NV's value of 3.54% is 13.8% above this industry median. Based on the distribution chart, Heineken Holding NV ranks #111 out of 213 companies in the Beverages - Alcoholic industry, which is below the industry midpoint. Overall, Heineken Holding NV has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Heineken Holding NV's Return-on-Tangible-Asset compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, Heineken Holding NV ranks #111 out of 213 companies for Return-on-Tangible-Asset. This places Heineken Holding NV in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.11. Heineken Holding NV's value of 3.54% is 13.8% above this benchmark. While the company's 10-year median is 3.85 vs. the industry median of 3.11, 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 Return-on-Tangible-Asset for a Beverages - Alcoholic company?
The median Return-on-Tangible-Asset among Beverages - Alcoholic companies is 3.11, based on 213 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Heineken Holding NV's current Return-on-Tangible-Asset of 3.54% is 13.8% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Heineken Holding NV and its competitors. For the Beverages - Alcoholic industry, the median Return-on-Tangible-Asset is 3.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heineken Holding NV's current Return-on-Tangible-Asset is 3.54%, which is near median its own 10-year median of 3.85. 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 €72.66, compared to a current price of €73.25 — trading 0.8% above its estimated fair value. The current Return-on-Tangible-Asset is 3.54%, which is near median its 10-year median of 3.85 and 13.8% above the Beverages - Alcoholic industry median of 3.11. Heineken Holding NV's overall GF Score™ is 82/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Heineken Holding NV (FRA:4H5), the current Return-on-Tangible-Asset is 3.54% as of Dec. 2025. 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 overvalued.
The current stock price of €73.25 is trading 0.8% above its estimated GF Value™ of €72.66.
GuruFocus considers Heineken Holding NV to be Fairly Valued.
Key valuation signals for FRA:4H5:
Return-on-Tangible-Asset: 3.54% (near median its 10-year median of 3.85)
GF Value™: €72.66 vs. price of €73.25 (0.8% above fair value)
Industry Position: 13.8% above the Beverages - Alcoholic median (#111 of 213)
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.
82GF Score
Get the complete analysis for FRA:4H5
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