Heineken (HEIA) — Free Cash Flow Generation Index
Latest as of December 2025:
0.75x
Heineken (HEIA) has a Free Cash Flow Generation Index of 0.75x as of December 2025. Free cash flow of €2.48 Billion represents 1% of operating cash flow (€3.32 Billion). See Heineken short-term liquidity ratio to evaluate short-term liquidity relative to the company's equity base.
FCF Generation Index
0.75x
Free Cash Flow / Operating CF
Free Cash Flow
€2.48 Billion
EUR
Operating Cash Flow
€3.32 Billion
EUR
Capital Expenditures
€839.00 Million
EUR
Heineken Free Cash Flow Generation Index (1999–2025)
Historical FCF Generation Index trend for Heineken across 27 annual periods. Explore HEIA debt coverage from operations to assess how comfortably operating cash covers total debt obligations.
Annual Free Cash Flow Generation for Heineken (1999–2025)
Year-by-year Free Cash Flow Generation Index for Heineken. For the full company profile including market capitalisation, see HEIA market cap overview.
| Year | FCG Index | Free Cash Flow (EUR) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.52x | €2.61 Billion | €5.01 Billion | €2.40 Billion | ▼ -5.7% |
| 2024 | 0.55x | €3.04 Billion | €5.50 Billion | €2.46 Billion | ▲ +39.5% |
| 2023 | 0.40x | €1.75 Billion | €4.43 Billion | €2.68 Billion | ▼ -28.4% |
| 2022 | 0.55x | €2.48 Billion | €4.50 Billion | €2.01 Billion | ▼ -10.6% |
| 2021 | 0.62x | €2.58 Billion | €4.18 Billion | €1.60 Billion | ▲ +29.6% |
| 2020 | 0.48x | €1.50 Billion | €3.14 Billion | €1.64 Billion | ▼ -7.5% |
| 2019 | 0.52x | €2.24 Billion | €4.34 Billion | €2.10 Billion | ▼ -9.5% |
| 2018 | 0.57x | €2.50 Billion | €4.39 Billion | €1.89 Billion | ▲ +1.2% |
| 2017 | 0.56x | €2.19 Billion | €3.88 Billion | €1.70 Billion | ▲ +6.8% |
| 2016 | 0.53x | €1.96 Billion | €3.72 Billion | €1.76 Billion | ▼ -0.6% |
| 2015 | 0.53x | €1.85 Billion | €3.49 Billion | €1.64 Billion | ▲ +3.7% |
| 2014 | 0.51x | €1.56 Billion | €3.06 Billion | €1.49 Billion | ▼ -3.5% |
| 2013 | 0.53x | €1.54 Billion | €2.91 Billion | €1.37 Billion | ▼ -1.3% |
| 2012 | 0.54x | €1.45 Billion | €2.69 Billion | €1.25 Billion | ▼ -23.9% |
| 2011 | 0.71x | €2.06 Billion | €2.91 Billion | €856.00 Million | ▼ -4.0% |
| 2010 | 0.74x | €1.95 Billion | €2.66 Billion | €704.00 Million | ▲ +9.2% |
| 2009 | 0.67x | €1.60 Billion | €2.38 Billion | €777.00 Million | ▲ +179.5% |
| 2008 | 0.24x | €400.00 Million | €1.66 Billion | €1.26 Billion | ▼ -28.7% |
| 2007 | 0.34x | €585.00 Million | €1.73 Billion | €1.15 Billion | ▼ -35.7% |
| 2006 | 0.53x | €972.00 Million | €1.85 Billion | €877.00 Million | ▼ -1.4% |
| 2005 | 0.53x | €998.00 Million | €1.87 Billion | €874.00 Million | ▲ +9.8% |
| 2004 | 0.49x | €620.00 Million | €1.28 Billion | €657.00 Million | ▼ -20.5% |
| 2003 | 0.61x | €1.00 Billion | €1.64 Billion | €637.00 Million | ▲ +59.7% |
| 2002 | 0.38x | €453.00 Million | €1.18 Billion | €731.00 Million | ▼ -21.7% |
| 2001 | 0.49x | €569.00 Million | €1.17 Billion | €596.00 Million | ▼ -18.1% |
| 2000 | 0.60x | €617.00 Million | €1.03 Billion | €418.00 Million | ▲ +12.7% |
| 1999 | 0.53x | €495.00 Million | €936.00 Million | €441.00 Million | — |
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).