Heineken NV

HEIA: XAMS (NLD)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Upgrading Heineken’s Moat Rating to Wide From Narrow With Greater Long-Term Confidence

Verushka Shetty

Mar 13, 2025

Business Strategy and Outlook

Present in almost 200 countries, the Heineken brand has become the top-selling premium beer globally. The firm has built up regional cost advantages across markets and invested in relationships up and down its value chain, establishing high barriers to entry.

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Heineken NV

Upgrading Heineken’s Moat Rating to Wide From Narrow With Greater Long-Term Confidence

Business Strategy and Outlook

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