Heineken Holding NV (HEIO) — Free Cash Flow Generation Index

Latest as of December 2025: 0.75x

Heineken Holding NV (HEIO) 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). Read HEIO total liabilities for a breakdown of total debt and financial obligations.

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 Holding NV Free Cash Flow Generation Index (2000–2025)

Historical FCF Generation Index trend for Heineken Holding NV across 26 annual periods. Explore capital reinvestment ratio of Heineken Holding NV to see what proportion of operating cash flow is directed to capital expenditures.

Annual Free Cash Flow Generation for Heineken Holding NV (2000–2025)

Year-by-year Free Cash Flow Generation Index for Heineken Holding NV. For the full company profile including market capitalisation, see how much is Heineken Holding NV worth.

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 ▼ -3.0%
2018 0.53x €2.33 Billion €4.39 Billion €2.06 Billion ▲ +0.7%
2017 0.53x €2.05 Billion €3.88 Billion €1.83 Billion ▲ +6.0%
2016 0.50x €1.85 Billion €3.72 Billion €1.87 Billion ▼ -1.2%
2015 0.50x €1.76 Billion €3.49 Billion €1.73 Billion ▲ +2.3%
2014 0.49x €1.51 Billion €3.06 Billion €1.55 Billion ▼ -2.2%
2013 0.50x €1.47 Billion €2.91 Billion €1.45 Billion ▼ -6.2%
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 ▼ -7.9%
2004 0.58x €933.00 Million €1.61 Billion €678.00 Million ▼ -57.8%
2003 1.37x €2.25 Billion €1.64 Billion €611.00 Million ▼ -13.5%
2002 1.59x €1.88 Billion €1.18 Billion €696.00 Million ▲ +6.1%
2001 1.50x €1.74 Billion €1.17 Billion €579.00 Million ▲ +6.6%
2000 1.40x €1.45 Billion €1.03 Billion €418.00 Million —
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).