Koninklijke Heijmans HEIJM.AS
NetherlandsIndustrials · Engineering & ConstructionEuronext Ámsterdam · EUR
121.50 EUR (+48.2%)
2 analysts
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Koninklijke Heijmans N.V. is a Dutch construction and property development company operating in residential and non-residential building, infrastructure and technology segments, with an integrated model spanning from development and construction to maintenance and renovation.
Listed on Euronext Ámsterdam · Symbol HEIJM.AS · AMS: HEIJM · Currency EUR
Key points
from its scores- ✓Good share-price trend9.0
- ✓Strong growth7.8
- ✓Attractive valuation7.7
- !Risks to watch5.0
AI analysis
bottom line, main risk, context and newsThe combination of a clean balance sheet, high profitability and reasonable valuation supports the position, although momentum already reflects much of the re-rating.
Heijmans presents solid fundamentals: net cash (Net Debt/EBITDA of -0.25), ROE of 28.03% and earnings growth of 23.70%, with an attractive valuation (forward P/E of 10.45) and strong 12-month momentum of 51.16%.
The main risk is dependence on the Dutch construction cycle and housing market, which could be affected by an economic slowdown or by higher financing costs for homebuyers.
Context and risks
Heijmans is a Dutch construction and property developer with net cash, so the rise in interest rates does not pose a refinancing risk. Its activity is focused on the Netherlands, with no significant exposure to shipping routes, tariffs or commodities that would justify an adjustment for geopolitical or regulatory risk.
Is Koninklijke Heijmans stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 31% below the Industrials median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 15.6 | 25.4 | −38% |
| EV / EBITDA | 11.0 | 14.5 | −24% |
| Price / book | 4.1 | 4.1 | +0% |
| Price / sales | 0.8 | 2.1 | −63% |
Sector: median of the 388 Industrials companies analysed. In bold, the multiples used for the comparison.
Valuation score: 7.7 out of 10 (median for Industrials: 5.0).
Average analyst target: 121.50 EUR, +48.2% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 6.9 (sector 6.4), Growth 7.8 (sector 6.6).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Industrials medianValuation
- P/E
- 15.6
- Forward P/E
- 10.4
- EV / EBITDA
- 11.0
- Price / book
- 4.1
- Price / sales
- 0.8
- PEG
- 2.07
- Market cap
- 2.3B EUR
- Enterprise value
- 2.2B EUR
Profitability
- ROE
- 28.0%
- ROA
- 6.7%
- ROIC (approx.)
- 26.3%
- Gross margin
- 16.4%
- Operating margin
- 6.1%
- Net margin
- 4.8%
- Free cash flow
- 270.9M EUR
- FCF yield
- 12.0%
- Cash conversion
- 135%
Solvency
- Total debt
- 138.0M EUR
- Net debt
- −51.0M EUR
- Cash
- 189.0M EUR
- EBITDA
- 200.7M EUR
- Net debt / EBITDA
- −0.25
- Debt / equity
- 24.86
- Current ratio
- 1.01
- Quick ratio
- 0.64
Growth
- Revenue growth
- +15.8%
- Earnings growth
- +23.7%
- EPS (TTM)
- 5.24 EUR
- EPS (forward)
- 7.85 EUR
Dividend
- Dividend yield
- 2.9%
- Payout
- 45.2%
Risk and market
- Beta
- 1.30
- Analyst consensus
- Strong buy (2)
- Target price
- 121.50 EUR
- 52-week range
- 53.65 – 117.80
Recent news
All HEIJM.AS news →Compare it with its sector
All 388 in Industrials →Frequently asked questions about Koninklijke Heijmans
Is Koninklijke Heijmans stock cheap or expensive?
On P/E and EV / EBITDA, it trades 31% below the Industrials median on average. Valuation score: 7.7 out of 10 (median for Industrials: 5.0). Average analyst target: 121.50 EUR, +48.2% versus the price. This is not investment advice.
What score does Koninklijke Heijmans get on MeridIAn Screener?
It scores 7.2 out of 10, rank 136 of 2,130 (better than 93% of the companies analysed). Its strongest category is Momentum (9.0) and its weakest, Risk & Context (5.0). Analysis of 08/10/2026.
What is Koninklijke Heijmans's P/E ratio?
Its P/E is 15.6: the share price equals 15.6 times earnings per share over the last 12 months. The Industrials median is 25.4. Based on the earnings analysts expect, the forward P/E is 10.4.
How much is Koninklijke Heijmans worth on the stock market?
Its market capitalisation is 2.3B EUR and its enterprise value, debt included, is 2.2B EUR.
How much debt does Koninklijke Heijmans have?
It has more cash than debt: net cash of 51.0M EUR.
Does Koninklijke Heijmans pay a dividend?
Yes: its dividend yield is 2.89% and it pays out 45% of its earnings.
How has Koninklijke Heijmans stock performed over the last year?
It has risen 42.3% over the last year, excluding dividends. Over the last 52 weeks it has traded between 53.65 and 117.80 EUR. Past performance does not guarantee future results.
What do analysts think of Koninklijke Heijmans?
2 analysts cover it; their average recommendation is “Strong buy” and their average target is 121.50 EUR (+48.2% versus the price). It is an estimate, not market data.