Heineken Holding NV (HEIO) — Cash Flow Quality Index

Latest as of December 2025: 5.81x

Heineken Holding NV (HEIO) has a Cash Flow Quality Index of 5.81x as of December 2025. Operating cash flow of €3.32 Billion exceeds net income of €572.00 Million, indicating high earnings quality where cash backs reported profits. Explore HEIO debt coverage from operations to assess how comfortably operating cash covers total debt obligations.

Cash Flow Quality Index

5.81x
Operating CF / Net Income

Operating Cash Flow

€3.32 Billion
EUR

Net Income

€572.00 Million
EUR

Data as of

Dec 2025
Most recent filing

Heineken Holding NV Cash Flow Quality Index (2004–2025)

Historical Cash Flow Quality Index for Heineken Holding NV across 21 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see Heineken Holding NV cash flow conversion.

Annual Cash Flow Quality Index for Heineken Holding NV (2004–2025)

Year-by-year earnings quality comparison for Heineken Holding NV.

Year Quality Index Operating CF (EUR) Net Income YoY Change
2025 2.34x €5.01 Billion €2.14 Billion ▼ -50.5%
2024 4.74x €5.50 Billion €1.16 Billion ▲ +156.9%
2023 1.85x €4.43 Billion €2.40 Billion ▲ +24.7%
2022 1.48x €4.50 Billion €3.04 Billion ▲ +25.1%
2021 1.18x €4.18 Billion €3.54 Billion ▼ -35.3%
2019 1.83x €4.34 Billion €2.37 Billion ▼ -12.8%
2018 2.09x €4.39 Billion €2.10 Billion ▲ +16.2%
2017 1.80x €3.88 Billion €2.15 Billion ▼ -15.7%
2016 2.14x €3.72 Billion €1.74 Billion ▲ +31.2%
2015 1.63x €3.49 Billion €2.14 Billion ▼ -9.0%
2014 1.79x €3.06 Billion €1.71 Billion ▼ -2.5%
2013 1.84x €2.91 Billion €1.59 Billion ▲ +111.8%
2012 0.87x €2.69 Billion €3.11 Billion ▼ -53.5%
2011 1.87x €2.91 Billion €1.56 Billion ▲ +10.1%
2010 1.69x €2.66 Billion €1.57 Billion ▼ -18.7%
2009 2.08x €2.38 Billion €1.14 Billion ▼ -56.5%
2008 4.78x €1.66 Billion €347.00 Million ▲ +11.7%
2007 4.28x €1.73 Billion €404.00 Million ▲ +40.3%
2006 3.05x €1.85 Billion €606.00 Million ▼ -37.9%
2005 4.91x €1.87 Billion €381.00 Million ▲ +216.9%
2004 1.55x €1.61 Billion €1.04 Billion —
Cash Flow Quality Index = Operating Cash Flow / Net Income. Ratios above 1.0x indicate cash-backed earnings.