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). Explore HEIO capital expenditure intensity to see what proportion of operating cash flow is directed to capital expenditures.

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. For the full cash flow conversion analysis, see Heineken Holding NV (HEIO) cash flow conversion.

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

Year-by-year Free Cash Flow Generation Index for Heineken Holding NV. Check Heineken Holding NV (HEIO) reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.

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).