` HEIO (Heineken Holding NV) vs ABEV3 (Ambev SA) Comparison - Alpha Spread

HEIO
vs
ABEV3

Over the past 12 months, HEIO has underperformed ABEV3, delivering a return of -11% compared to the ABEV3's +19% growth.

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HEIO
ABEV3
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One-click summary across all key metrics.
Ranked results with clear takeaways.
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Valuation
Growth
Profitability
Solvency
Comparing Valuation
Running a multi-layered valuation analysis to compare how attractive each stock is.
Comparing Growth
Financial growth, forecasts, volatility, and historical drawdowns.
Comparing Profitability
Margins, returns on capital, and the consistency of profitability.
Comparing Solvency
Debt levels, liquidity, interest coverage, and bankruptcy risk.
Summarizing...
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Valuation Comparison

HEIO Intrinsic Value
161.62 EUR
Undervaluation 60%
Intrinsic Value
Price
ABEV3 Intrinsic Value
13.7 BRL
Fairly Valued
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Heineken Holding NV
AEX:HEIO
65.35 EUR
Ambev SA
BOVESPA:ABEV3
13.65 BRL
Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
HEIO vs ABEV3

HEIO
ABEV3
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
Heineken Holding NV
Revenue
Ambev SA
Revenue

All metrics are calculated based on data from the last 10 years.

Profitability Comparison

Free Cash Flow
HEIO vs ABEV3

HEIO
ABEV3
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
Heineken Holding NV
AEX:HEIO
Ambev SA
BOVESPA:ABEV3
What is Free Cash Flow?

Gross Margin

HEIO
64.9%
ABEV3
51.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken Holding NV
Ambev SA

Operating Margin

HEIO
12.9%
ABEV3
24.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken Holding NV
Ambev SA

Net Margin

HEIO
1.7%
ABEV3
15.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken Holding NV
Ambev SA

FCF Margin

HEIO
10.2%
ABEV3
24%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken Holding NV
Ambev SA

ROE

HEIO
5.2%
ABEV3
15.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken Holding NV
Ambev SA

ROA

HEIO
0.9%
ABEV3
10.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken Holding NV
Ambev SA

ROIC

HEIO
5.3%
ABEV3
16.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken Holding NV
Ambev SA

ROCE

HEIO
9.7%
ABEV3
22%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken Holding NV
Ambev SA

Solvency Comparison

Balance Sheet Comparison

Stocks Performance

Stocks Performance
HEIO vs ABEV3

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Performance Gap
HEIO vs ABEV3

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HEIO
ABEV3
Difference
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Performance By Year
HEIO vs ABEV3

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HEIO
ABEV3
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