Heineken Holding revenue and financials
€66.55Change from previous close: +0.76%Absolute change: +€0.50
In the fiscal year ended December 2025, Heineken Holding reported revenue of €28.75B (−3.58% year over year). Net income was €952M, a net margin of 3.3%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- −3.58%
- 2025 vs 2024
- Net income growth
- +91.16%
- 2025 vs 2024
- Net margin
- 3.3%
- 2024: 1.7%
Financial data
Amounts in millions of EUR; per-share values in EUR; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | 5,012 | 5,503 | 4,430 | 4,496 | — |
| Depreciation and amortization | 2,567 | 2,556 | 3,096 | 1,881 | — |
| Capital expenditure | -2,402 | -2,465 | -2,677 | -2,011 | — |
| Investing cash flow | -2,455 | -2,435 | -3,576 | -2,286 | — |
| Financing cash flow | 196 | -2,574 | -816 | -3,127 | — |
| Dividends paid | -1,276 | -1,199 | -1,335 | -1,099 | -796 |
| Share repurchases | -658 | -5.0 | -942 | -43.0 | — |
| Debt issued | 6,582 | 3,076 | 6,751 | 644 | — |
| Debt repaid | -4,051 | -4,091 | -4,614 | -1,934 | — |
| Effect of exchange rates | -151 | -166 | -231 | -21.0 | — |
| Net change in cash | 2,753 | 494 | 38.0 | -917 | — |
| Free cash flow | 2,610 | 3,038 | 1,753 | 2,485 | — |