OTC:HEINY
Heineken N.V. (OTC:HEINY) Earnings Report Analysis
Font: Financial Modeling Prep • Feb 11, 2026
Heineken N.V., trading under the symbol OTC:HEINY, is a leading global brewer known for its wide range of beer brands. The company operates in a competitive market, with major competitors like Anheuser-Busch InBev and Carlsberg. Heineken's recent earnings report on February 11, 2026, revealed an adjusted diluted earnings per share (EPS) of approximately $2.84 for the ADR (The reported IFRS EPS is €3.38 or about $2.01 per ADR). This aligns with analyst estimates on an adjusted basis.
Revenue for the full year was €34.4 billion (approximately $40.94 billion USD), with net revenue (excluding excise taxes) of €28.9 billion (approximately $34.39 billion USD).
In its FY 2025 earnings call (released February 11, 2026), Heineken provided insights into its financial performance and strategic direction. The company reported a full-year revenue of €34.4 billion (approximately $40.94 billion USD), with a slight organic growth of 0.2%. Net revenue increased by 1.6% to €28.9 billion (approximately $34.39 billion USD), and operating profit grew by 4.4% to €4.4 billion (approximately $5.24 billion USD). The operating profit margin improved by 41 basis points to 15.2%, indicating efficient cost management.
Heineken's net profit rose by 4.9% to €2.7 billion, with diluted EPS increasing by 3.6% to €4.78 (approximately $5.69 USD per ordinary share, or $2.84 USD per ADR given the 2:1 ADR-to-ordinary share ratio). The company achieved gross savings exceeding €500 million (approximately $595 million USD), contributing to its profitability and margin expansion. Despite a total volume decline of 1.2%, Heineken's own volume grew by 2.7%, and global brands volume increased by 1.9%. The net revenue per hectolitre rose by 3.8%, reflecting strong pricing power.
Heineken managed to gain or maintain market share in over 60% of its markets, including more than 80% of its priority growth markets. Marketing and selling expenses accounted for 9.9% of net revenue. The company's free operating cash flow stood at €2.6 billion (approximately $3.09 billion USD), with a net debt to EBITDA ratio of 2.2x, indicating a healthy balance sheet.
The company's financial metrics, such as a price-to-earnings (P/E) ratio of approximately 23.07 and a price-to-sales ratio of about 1.44, reflect the market's valuation of its sales and earnings (based on trailing twelve months as of February 11, 2026, with HEINY closing around $44 per share post-earnings). The enterprise value to sales ratio is around 1.94, while the enterprise value to operating cash flow ratio is approximately 7.59. Additionally, Heineken's earnings yield is about 4.33%, and it has a current ratio of approximately 0.75, reflecting its ability to cover short-term liabilities with short-term assets.
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