Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Koninklijke Heijmans N.V. is a publicly listed Dutch construction and infrastructure company founded in 1923 and headquartered in Rosmalen, Netherlands. It specializes in property development, construction and technical services, and infrastructure projects across the segments of Living, Working, and Connecting. The company develops residential properties, builds and renovates homes, offices, schools, hospitals, and stadiums, while also handling electro-technical and mechanical installations for sectors like healthcare, government, commercial properties, high-tech industries, and data centers. In infrastructure, it constructs, enhances, and maintains roads, highways, tunnels, bridges, public spaces, and related installations. With approximately 5,791 employees, Koninklijke Heijmans N.V. emphasizes innovation, sustainability, and integrated solutions to create healthier living environments, focusing on quality improvements, smart technologies like digital twins and sensors, and long-term environmental responsibility. As one of the Netherlands' third-largest construction firms, it plays a key role in shaping urban and rural landscapes through end-user centric projects for governments, businesses, and individuals.
€111.90
+€4.30 (+4.00%)
EOD Jul 3, 2026
Operating margin is thin at 5.81%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 7.3%, steady but not accelerating.
Even for strong businesses, today's 24x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
23.7x earnings, 13.5x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
€2.77B
▲ +7.3% YoY
Net Income (TTM)
€130M
▲ +44.7% YoY
Op. Margin
5.81%
▲ +1.5pp YoY
ROIC
18.96%
▲ +4.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€228M
▲ +4.4% YoY
Op. Cash Flow (TTM)
€270M
▲ +20.8% YoY
Net Debt
-€52M
Net Cash Position
Cash & Equiv.
€185M
3Y CAGR: +15.2%
3Y CAGR: +38.8%
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At a P/E of 23.7 and a price-to-free-cash-flow of 13.5, Koninklijke Heijmans (HEIJM.XAMS) trades below a two-stage DCF intrinsic value of about €421.48 per share, so at €111.90 the stock looks undervalued (276.7% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Koninklijke Heijmans scores 83/100 on Intrinsiqq's quality scorecard (a high-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 1.5%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about €421.48 per share for HEIJM.XAMS, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around €316.11. At today's €111.90, that puts the stock about 276.7% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Koninklijke Heijmans scores 83 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a high-quality business on these measures. Recent fundamentals include a 5.8% operating margin and a 19.0% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Koninklijke Heijmans pays a regular dividend of about €1.64 per share per year (typically in quarterly installments), a yield of roughly 1.5% at the current price. That is a payout ratio of about 34.6% of earnings, so the dividend is amply covered by earnings. Koninklijke Heijmans has grown the dividend at roughly 55.9% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For HEIJM.XAMS's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. HEIJM.XAMS currently trades below its estimated intrinsic value and scores 83/100 on quality (high-quality). It also yields about 1.5%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.