Heineken
€69.66Change from previous close: +0.93%Absolute change: +€0.64
At a glance
- Revenue growth
- −3.58%
- 2025 vs 2024
- Net income growth
- +92.74%
- 2025 vs 2024
- Net margin
- 6.6%
- 2024: 3.3%
Financial data
Amounts in millions of EUR; per-share values in EUR; shares in millions.
| Item | Q2 2026 | Q4 2025 | Q2 2025 | Q4 2024 | Q2 2024 | Q4 2023 | Q2 2023 | Q4 2022 | Q2 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 2,484 | 3,324 | 1,688 | 3,560 | 1,943 | 3,398 | 1,032 | 2,327 | 2,169 | 2,600 |
| Depreciation and amortization | 1,196 | 1,171 | 976 | 968 | 1,191 | 923 | 1,052 | 943 | 957 | 895 |
| Capital expenditure | -1,001 | -839 | -1,294 | -963 | -1,221 | -1,056 | -1,378 | -833 | -958 | -596 |
| Investing cash flow | -3,731 | -997 | -1,458 | -1,170 | -1,265 | -897 | -2,679 | -1,195 | -1,091 | -687 |
| Financing cash flow | -1,226 | 866 | -713 | -1,885 | -689 | -1,991 | 1,175 | -1,611 | -1,516 | -616 |
| Dividends paid | -749 | -511 | -765 | -561 | -638 | -495 | -840 | -447 | -652 | -217 |
| Share repurchases | -394 | -505 | -196 | — | -36.0 | -14.0 | -928 | -20.0 | -23.0 | -14.0 |
| Debt issued | 2,966 | 3,885 | 2,697 | 1,103 | 1,973 | 1,259 | 5,492 | 343 | 301 | 850 |
| Debt repaid | -2,964 | -1,983 | -2,447 | -2,458 | -1,988 | -2,743 | -2,261 | -1,104 | -1,134 | -1,235 |
| Effect of exchange rates | 53.0 | -25.0 | -126 | -77.0 | -89.0 | -60.0 | -171 | -49.0 | 28.0 | 6.0 |
| Net change in cash | -2,420 | 3,168 | -609 | 428 | -100 | 450 | -643 | -528 | -410 | 1,303 |
| Free cash flow | 1,483 | 2,485 | 394 | 2,597 | 722 | 2,342 | -346 | 1,494 | 1,211 | 2,004 |
| Levered free cash flow | 684 | 2,319 | -181 | 2,514 | 114 | 1,958 | -1,365 | 1,815 | 412 | 1,870 |