Heineken N.V.
Financial Performance
Heineken Revenue & Financials
Revenue
~$32.5B (FY2025)
Market Cap
$44B
Net Income
~$2.1B
Employees
87,000
What is Heineken's revenue?
Heineken had ~$32.5B in revenue for fiscal year 2025, down 3.6% from 2024. Net income was ~$2.1B.
- Latest revenue
- ~$32.5B (FY2025)
- Year-over-year
- -3.6%
- Growth rate (CAGR)
- 7% over 4 years
- Peak revenue
- ~$34.3B (FY2023)
- Years of data
- 5
- Employees
- 87,000
- How much profit does Heineken make?
- Heineken reported net income of ~$2.1B for fiscal year 2025. stockanalysis.com
- How many employees does Heineken have?
- Heineken has about 87,000 employees.
Financial Analysis
Reported net revenue rose from ~$24.7 billion (€21.9 billion) in 2021 to ~$34.4 billion (€30.4 billion) in 2023, then fell to ~$33.7 billion (€29.8 billion) in 2024 and ~$32.5 billion (€28.75 billion) in 2025, largely because of weak emerging-market currencies and soft beer volumes. Net profit has been volatile: ~$2.6 billion (€2.30 billion) in 2023, ~$1.11 billion (€978 million) in 2024 after an impairment on the China Resources Beer stake, and ~$2.13 billion (€1.885 billion) in 2025. In the first half of 2026 net revenue was ~$16.8 billion (€14.84 billion) (organic growth 2.7%), operating profit (beia) reached ~$2.45 billion (€2.17 billion) at a 14.6% margin, net profit was ~$1.27 billion (€1.125 billion), and net debt was 2.6 times EBITDA (beia). Management reiterated 2026 guidance of 2% to 6% organic operating profit growth and is running a ~$1.69 billion (€1.5 billion) share buyback. Heineken N.V. is a colossal Dutch multinational brewing company, maintaining a massive global footprint and a market valuation typically over $50 billion.
Revenue Trend Analysis
YoY Change
-3.6%
4-Year CAGR
+7%
Peak Year
2023
Trend
Mostly Growing
Heineken N.V. has 5 full fiscal year figures on this page, compounding at +7% annually over 4 years. The most recent year saw a 3.6% decline versus the prior year. Annual revenue peaked in fiscal year 2023 at ~$34.3B. Of 4 comparable year-over-year steps, 2 showed growth and 2 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2025 | ~$32.5B | ~$2.1B | -3.6% | Heineken (AMS:HEIA) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2025-12-31. |
| FY2024 | ~$33.7B | ~$1.1B | -1.8% | Heineken (AMS:HEIA) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2024-12-31. |
| FY2023 | ~$34.3B | ~$2.6B | +5.7% | Heineken (AMS:HEIA) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2023-12-31. |
| FY2022 | ~$32.5B | ~$3B | +30.9% | Heineken (AMS:HEIA) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2022-12-31. |
| FY2021 | ~$24.8B | ~$3.8B | — | Heineken (AMS:HEIA) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2021-12-31. |
Click any row to see year details.
Keep researching Heineken
Heineken Revenue and Financial FAQ
What is the annual revenue magnitude and operating profit scale of Heineken N.V.?
Heineken N.V. reported 2025 net revenue of about US$32.5 billion (€28.75 billion), down 3.6% from about US$33.7 billion (€29.82 billion) in 2024. Operating profit (beia) was about US$5.0 billion (€4.385 billion), a 15.2% margin, and net profit was about US$2.1 billion (€1.885 billion).
Who is the controlling family shareholder behind Heineken N.V.?
Heineken N.V. is majority-controlled by the founding Heineken family through Heineken Holding N.V., in which the late Freddy Heineken's daughter, Charlene de Carvalho-Heineken, and her family hold the controlling 50.005% voting stake, ensuring long-term family ownership stability.
What is Heineken's dividend policy and capital return track record?
Heineken maintains a progressive dividend payout policy targeting 30% to 40% of net profit (beia), distributing consistent interim and final cash dividends annually to shareholders for decades.
How does Heineken manage financial leverage and credit ratings?
Heineken aims to keep net debt to EBITDA (beia) around 2.5x and holds investment-grade credit ratings. The ratio stood at 2.6x at the end of June 2026, while the company ran a ~$1.69 billion (€1.5 billion) share buyback.
How do brewing raw material and energy commodity costs impact Heineken's cost of goods sold?
Barley malt, aluminum cans, glass bottles, and brewery natural gas energy represent Heineken's primary input costs. Heineken uses 12-to-18-month financial derivative commodity hedges and strategic long-term agricultural contracts to smooth cost volatility.
What is Heineken's capital expenditure (CapEx) commitment for brewery infrastructure?
Heineken spends several billion euros a year on capital expenditure, funding brewery capacity in growth markets such as Brazil, Mexico and Africa, renewable energy at breweries, and returnable packaging. Free operating cash flow was ~$1.58 billion (€1.4 billion) in H1 2026.
How does Heineken measure organic growth across volume and price-mix?
Heineken tracks organic net revenue growth by separating consolidated performance into organic volume growth (hectoliters of beer sold) and price-mix realization (price increases and premium brand proportion gains), demonstrating core pricing power.
How do foreign currency translation fluctuations impact Heineken's reported financial results?
Because Heineken reports consolidated results in Euros while earning significant revenues in US Dollars, Mexican Pesos, Brazilian Reais, and Vietnamese Dong, currency swings impact reported earnings, which Heineken manages through transactional FX hedges.
Who owns Heineken?
Despite being a massive public company, it is tightly controlled by the Heineken family (specifically billionaire Charlene de Carvalho-Heineken). They use a highly complex legal structure ("Heineken Holding N.V.") which owns exactly 50.005% of the operating company, ensuring that the family retains absolute veto power over any hostile takeover attempts.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Heineken Revenue & Financials." CorpDigest, https://corpdigest.com/company/heineken/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Heineken reported ~$32.5B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/heineken/financials" target="_blank" rel="noopener">CorpDigest — Heineken financials</a></div>Related Financial Audits
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