Heidelberg Materials AG (HEI) — Cash Flow-to-Debt Ratio
Heidelberg Materials AG (HEI) has a Cash Flow-to-Debt Ratio of 0.19x as of December 2025, meaning its operating cash flow of €3.25 Billion could theoretically repay 0% of its total liabilities (€16.84 Billion) in one year. See Heidelberg Materials AG (HEI) financial flexibility to measure the company's free cash flow as a share of total liabilities.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
Heidelberg Materials AG Cash Flow-to-Debt Ratio (2002–2025)
Historical debt coverage capacity for Heidelberg Materials AG across 24 annual periods. For the full cash flow conversion analysis, see Heidelberg Materials AG cash flow conversion.
Annual Cash Flow-to-Debt Ratio for Heidelberg Materials AG (2002–2025)
Year-by-year debt coverage analysis for Heidelberg Materials AG. Check HEI operating cash flow to net income to evaluate the quality of earnings relative to operating cash generation.
| Year | CF-to-Debt Ratio | Operating CF (EUR) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | 0.19x | €3.25 Billion | €16.84 Billion | ▲ +3.6% |
| 2024 | 0.19x | €3.23 Billion | €17.33 Billion | ▼ -0.5% |
| 2023 | 0.19x | €3.21 Billion | €17.10 Billion | ▲ +21.1% |
| 2022 | 0.15x | €2.42 Billion | €15.63 Billion | ▲ +10.2% |
| 2021 | 0.14x | €2.40 Billion | €17.05 Billion | ▼ -17.4% |
| 2020 | 0.17x | €3.03 Billion | €17.79 Billion | ▲ +28.3% |
| 2019 | 0.13x | €2.66 Billion | €20.08 Billion | ▲ +27.8% |
| 2018 | 0.10x | €1.97 Billion | €18.96 Billion | ▼ -5.7% |
| 2017 | 0.11x | €2.04 Billion | €18.51 Billion | ▲ +13.3% |
| 2016 | 0.10x | €1.87 Billion | €19.28 Billion | ▼ -16.9% |
| 2015 | 0.12x | €1.45 Billion | €12.40 Billion | ▲ +9.7% |
| 2014 | 0.11x | €1.48 Billion | €13.89 Billion | ▲ +43.9% |
| 2013 | 0.07x | €1.06 Billion | €14.28 Billion | ▼ -30.1% |
| 2012 | 0.11x | €1.51 Billion | €14.29 Billion | ▲ +22.8% |
| 2011 | 0.09x | €1.33 Billion | €15.45 Billion | ▲ +9.2% |
| 2010 | 0.08x | €1.14 Billion | €14.49 Billion | ▼ -1.6% |
| 2009 | 0.08x | €1.16 Billion | €14.51 Billion | ▼ -5.0% |
| 2008 | 0.08x | €1.52 Billion | €18.03 Billion | ▼ -3.8% |
| 2007 | 0.09x | €1.91 Billion | €21.76 Billion | ▼ -54.7% |
| 2006 | 0.19x | €1.26 Billion | €6.49 Billion | ▲ +67.8% |
| 2005 | 0.12x | €795.02 Million | €6.88 Billion | ▼ -16.7% |
| 2004 | 0.14x | €937.35 Million | €6.75 Billion | ▲ +41.0% |
| 2003 | 0.10x | €660.22 Million | €6.71 Billion | ▼ -24.0% |
| 2002 | 0.13x | €944.84 Million | €7.29 Billion | — |