` Comparison: HEIM vs HEIA - Alpha Spread

H
HEIM
vs
HEIA

Over the past 12 months, HEIM has underperformed HEIA, delivering a return of -9% compared to the HEIA's 1% drop.

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HEIM
HEIA
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Valuation Comparison

HEIM Intrinsic Value
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HEIA Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
H
Heineken Malaysia Bhd
KLSE:HEIM
24.3 MYR
Heineken NV
AEX:HEIA
76.88 EUR
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Valuation Scenario:
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Base Case
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Growth Comparison

Growth Over Time
HEIM, HEIA

HEIM
HEIA
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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
H
Heineken Malaysia Bhd
Revenue
Heineken NV
Revenue

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

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Profitability Comparison

Free Cash Flow
HEIM, HEIA

HEIM
HEIA
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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
H
Heineken Malaysia Bhd
KLSE:HEIM
Heineken NV
AEX:HEIA
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What is Free Cash Flow?

Gross Margin

HEIM
0%
HEIA
48.1%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Heineken Malaysia Bhd
Heineken NV

Operating Margin

HEIM
21.7%
HEIA
12.9%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Heineken Malaysia Bhd
Heineken NV

Net Margin

HEIM
16.5%
HEIA
6.6%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Heineken Malaysia Bhd
Heineken NV

FCF Margin

HEIM
16.4%
HEIA
9.1%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Heineken Malaysia Bhd
Heineken NV

ROE

HEIM
116.5%
HEIA
10%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Heineken Malaysia Bhd
Heineken NV

ROA

HEIM
39.8%
HEIA
3.5%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Heineken Malaysia Bhd
Heineken NV

ROIC

HEIM
76.8%
HEIA
6.6%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Heineken Malaysia Bhd
Heineken NV

ROCE

HEIM
145.1%
HEIA
9.4%
LTM 3Y Avg 5Y Avg 10Y Avg
H
Heineken Malaysia Bhd
Heineken NV

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
HEIM, HEIA

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Performance Gap
HEIM, HEIA

Performance Gap Between HEIM and HEIA
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Performance By Year
HEIM, HEIA

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HEIM
HEIA
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