` Comparison: HNK1, HEIO - Alpha Spread

HNK1
vs
HEIO

Over the past 12 months, HNK1 has underperformed HEIO, delivering a return of +2% compared to the HEIO's +5% growth.

Valuation Growth Profitability Solvency Stocks Performance
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HNK1
HEIO
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Stocks Compared:
HNK1 HEIO
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Valuation Comparison

HNK1 Intrinsic Value
111.79 EUR
Undervaluation 38%
Intrinsic Value
Price
HEIO Intrinsic Value
123.82 EUR
Undervaluation 51%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Heineken NV
DUS:HNK1
69.38 EUR
Heineken Holding NV
AEX:HEIO
61 EUR
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Valuation Scenario:
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Growth Comparison

Growth Over Time
HNK1, HEIO

HNK1
HEIO
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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 NV
Revenue
Heineken Holding NV
Revenue

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

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Profitability Comparison

Free Cash Flow
HNK1, HEIO

HNK1
HEIO
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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 NV
DUS:HNK1
Heineken Holding NV
AEX:HEIO
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What is Free Cash Flow?

Gross Margin

HNK1
20.2%
HEIO
35.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken NV
Heineken Holding NV

Operating Margin

HNK1
13.6%
HEIO
11.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken NV
Heineken Holding NV

Net Margin

HNK1
6.2%
HEIO
3.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken NV
Heineken Holding NV

FCF Margin

HNK1
9.2%
HEIO
9.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken NV
Heineken Holding NV

ROE

HNK1
9.8%
HEIO
10.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken NV
Heineken Holding NV

ROA

HNK1
3.4%
HEIO
1.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken NV
Heineken Holding NV

ROIC

HNK1
6.8%
HEIO
5.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken NV
Heineken Holding NV

ROCE

HNK1
10.4%
HEIO
8.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Heineken NV
Heineken Holding NV

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
HNK1, HEIO

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Performance Gap
HNK1, HEIO

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HNK1
HEIO
Difference
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1Y 3Y 5Y 10Y 15Y 20Y

Performance By Year
HNK1, HEIO

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