Heineken (HEIA) - Net Assets

Latest as of December 2025: €20.61 Billion EUR ≈ $24.10 Billion USD

Based on the latest financial reports, Heineken (HEIA) has net assets worth €20.61 Billion EUR (≈ $24.10 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€53.75 Billion ≈ $62.84 Billion USD) and total liabilities (€33.14 Billion ≈ $38.74 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Heineken liquidity resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	€20.61 Billion
% of Total Assets	38.35%
Annual Growth Rate	7.88%
5-Year Change	4.64%
10-Year Change	41.45%
Growth Volatility	21.02

Heineken - Net Assets Trend (1999–2025)

This chart illustrates how Heineken's net assets have evolved over time, based on quarterly financial data. Also explore Heineken total assets for the complete picture of this company's asset base.

Annual Net Assets for Heineken (1999–2025)

The table below shows the annual net assets of Heineken from 1999 to 2025. For live valuation and market cap data, see HEIA company net worth.

Year	Net Assets	Change
2025-12-31	€20.61 Billion ≈ $24.10 Billion	-7.98%
2024-12-31	€22.40 Billion ≈ $26.19 Billion	-1.70%
2023-12-31	€22.79 Billion ≈ $26.64 Billion	+3.96%
2022-12-31	€21.92 Billion ≈ $25.63 Billion	+11.27%
2021-12-31	€19.70 Billion ≈ $23.03 Billion	+36.88%
2020-12-31	€14.39 Billion ≈ $16.83 Billion	-16.86%
2019-12-31	€17.31 Billion ≈ $20.24 Billion	+10.20%
2018-12-31	€15.71 Billion ≈ $18.36 Billion	+8.17%
2017-12-31	€14.52 Billion ≈ $16.98 Billion	-0.36%
2016-12-31	€14.57 Billion ≈ $17.04 Billion	-3.30%
2015-12-31	€15.07 Billion ≈ $17.62 Billion	+12.03%
2014-12-31	€13.45 Billion ≈ $15.73 Billion	+8.87%
2013-12-31	€12.36 Billion ≈ $14.45 Billion	-3.18%
2012-12-31	€12.76 Billion ≈ $14.92 Billion	+26.46%
2011-12-31	€10.09 Billion ≈ $11.80 Billion	-4.04%
2010-12-31	€10.52 Billion ≈ $12.30 Billion	+86.24%
2009-12-31	€5.65 Billion ≈ $6.60 Billion	+18.83%
2008-12-31	€4.75 Billion ≈ $5.56 Billion	-20.08%
2007-12-31	€5.95 Billion ≈ $6.95 Billion	+7.72%
2006-12-31	€5.52 Billion ≈ $6.45 Billion	+22.29%
2005-12-31	€4.51 Billion ≈ $5.28 Billion	+16.88%
2004-12-31	€3.86 Billion ≈ $4.52 Billion	-0.95%
2003-12-31	€3.90 Billion ≈ $4.56 Billion	+32.80%
2002-12-31	€2.94 Billion ≈ $3.43 Billion	-6.47%
2001-12-31	€3.14 Billion ≈ $3.67 Billion	+24.56%
2000-12-31	€2.52 Billion ≈ $2.95 Billion	-12.07%
1999-12-31	€2.87 Billion ≈ $3.35 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Heineken's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 1975400000000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	€19.75 Billion	109.88%
Total Equity	€17.98 Billion	100.00%

Heineken Competitors by Market Cap

The table below lists competitors of Heineken ranked by their market capitalization.

Company	Market Cap
Becton Dickinson and Company NYSE:BDX	$42.51 Billion
Microchip Technology Inc NASDAQ:MCHP	$42.51 Billion
Danone SA F:BSND	$42.57 Billion
Fubon Financial Holding Co Ltd TW:2881	$42.67 Billion
Bayer AG NA XETRA:BAYN	$42.47 Billion
Sungrow Power Supply Co Ltd SHE:300274	$42.43 Billion
Coca-Cola European Partners PLC NASDAQ:CCEP	$42.42 Billion
Chipotle Mexican Grill Inc NYSE:CMG	$42.32 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Heineken's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 19,581,000,000 to 17,978,000,000, a change of -1,603,000,000 (-8.2%).
Net income of 1,885,000,000 contributed positively to equity growth.
Dividend payments of 1,276,000,000 reduced retained earnings.
Share repurchases of 701,000,000 reduced equity.
Other comprehensive income increased equity by 2,259,000,000.
Other factors decreased equity by 3,770,000,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	€1.89 Billion	+10.49%
Dividends Paid	€1.28 Billion	-7.1%
Share Repurchases	€701.00 Million	-3.9%
Other Comprehensive Income	€2.26 Billion	+12.57%
Other Changes	€-3.77 Billion	-20.97%
Total Change	€-	-8.19%

Book Value vs Market Value Analysis

This analysis compares Heineken's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 2.02x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 12.26x to 2.02x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1999-12-31	€5.34	€65.52	x
2000-12-31	€6.11	€65.52	x
2001-12-31	€6.41	€65.52	x
2002-12-31	€5.19	€65.52	x
2003-12-31	€8.08	€65.52	x
2004-12-31	€6.90	€65.52	x
2005-12-31	€8.10	€65.52	x
2006-12-31	€10.22	€65.52	x
2007-12-31	€11.03	€65.52	x
2008-12-31	€9.12	€65.52	x
2009-12-31	€10.92	€65.52	x
2010-12-31	€18.15	€65.52	x
2011-12-31	€16.67	€65.52	x
2012-12-31	€20.30	€65.52	x
2013-12-31	€19.80	€65.52	x
2014-12-31	€21.54	€65.52	x
2015-12-31	€23.62	€65.52	x
2016-12-31	€23.21	€65.52	x
2017-12-31	€23.34	€65.52	x
2018-12-31	€25.45	€65.52	x
2019-12-31	€28.12	€65.52	x
2020-12-31	€23.27	€65.52	x
2021-12-31	€30.13	€65.52	x
2022-12-31	€33.94	€65.52	x
2023-12-31	€35.56	€65.52	x
2024-12-31	€34.93	€65.52	x
2025-12-31	€32.38	€65.52	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Heineken utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 10.49%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 6.56%
• Asset Turnover: 0.53x
• Equity Multiplier: 2.99x
Recent ROE (10.49%) is below the historical average (15.92%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1999	19.71%	7.22%	1.19x	2.30x	€254.20 Million
2000	25.92%	7.66%	1.29x	2.62x	€381.40 Million
2001	24.43%	8.37%	1.27x	2.30x	€453.10 Million
2002	33.70%	8.33%	1.32x	3.06x	€602.70 Million
2003	25.20%	8.62%	0.85x	3.44x	€481.30 Million
2004	15.89%	5.37%	0.96x	3.08x	€199.10 Million
2005	19.17%	7.05%	0.91x	2.98x	€364.10 Million
2006	24.18%	10.24%	0.91x	2.59x	€710.10 Million
2007	14.93%	6.42%	0.97x	2.40x	€266.60 Million
2008	4.67%	1.46%	0.70x	4.60x	€-238.10 Million
2009	19.02%	6.91%	0.73x	3.77x	€482.90 Million
2010	14.04%	8.90%	0.61x	2.60x	€413.20 Million
2011	14.63%	8.35%	0.63x	2.78x	€452.60 Million
2012	25.22%	16.04%	0.51x	3.08x	€1.78 Billion
2013	11.96%	7.10%	0.58x	2.92x	€223.80 Million
2014	12.22%	7.87%	0.55x	2.81x	€275.10 Million
2015	13.98%	9.22%	0.51x	2.96x	€538.50 Million
2016	11.63%	7.41%	0.53x	2.97x	€216.20 Million
2017	14.53%	8.95%	0.53x	3.08x	€602.90 Million
2018	13.10%	8.46%	0.53x	2.90x	€450.50 Million
2019	13.41%	9.04%	0.50x	2.94x	€551.30 Million
2020	-1.52%	-1.03%	0.45x	3.25x	€-1.54 Billion
2021	19.15%	15.02%	0.44x	2.87x	€1.59 Billion
2022	13.72%	9.34%	0.54x	2.73x	€726.90 Million
2023	11.49%	7.59%	0.54x	2.81x	€298.40 Million
2024	4.99%	3.28%	0.54x	2.81x	€-980.10 Million
2025	10.49%	6.56%	0.53x	2.99x	€87.20 Million

Industry Comparison

This section compares Heineken's net assets metrics with peer companies in the Beverages - Brewers industry.

Industry Context

Industry: Beverages - Brewers
Average net assets among peers: $22,104,000,000
Average return on equity (ROE) among peers: 2.25%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Heineken (HEIA)	€20.61 Billion	19.71%	1.61x	$42.48 Billion
Heineken Holding NV (HEIO)	$22.10 Billion	2.25%	1.48x	$18.45 Billion

About Heineken

AS:HEIA Netherlands Beverages - Brewers

Market Cap

$42.48 Billion

€36.34 Billion EUR

Market Cap Rank

#625 Global

#4 in Netherlands

Share Price

€65.52

Change (1 day)

-0.79%

52-Week Range

€64.56 - €81.20

All Time High

€102.52