Fact based stock research
HeidelbergCement (XTRA:HEI)

DE0006047004

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

HeidelbergCement stock research in summary

heidelbergcement.com

ANALYSIS: With an Obermatt Combined Rank of 56 (better than 56% compared with investment alternatives), HeidelbergCement (Construction Materials, Germany) shares have above-average financial characteristics compared with similar stocks. Shares of HeidelbergCement are low in value (priced high) with a consolidated Value Rank of 39 (worse than 61% of alternatives), and are riskily financed (Safety Rank of 46, which means above-average debt burdens) but show above-average growth (Growth Rank of 75). ...read more

RECOMMENDATION: A Combined Rank of 56, is a buy recommendation based on HeidelbergCement's financial characteristics. As the company HeidelbergCement shows low value with an Obermatt Value Rank of 39 (61% of comparable investments are less expensive), investors should look at the other ranks. In this case, growth is expected to be above-average, better than 75% of comparable companies (Obermatt Growth Rank is 75). This is a typical case. Companies with above average growth tend to cost more than stocks with slower growth expectations. If this is a high-growth company, the low Obermatt Safety Rank of 46 is a good sign. The more debt a well-performing company has, the higher the returns to shareholders. However, if growth turns negative or interest rates increase, high debt may become a burden. If you believe the future is bright for HeidelbergCement, even a low-value company (in terms of its key financial indicators) can be a good investment. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	39
Growth Rank	75
Safety Rank	46
Combined Rank	56

Country	Germany
Industry	Construction Materials
Index	CDAX, DAX 40, Low Emissions, Energy Efficient, Diversity Europe, Human Rights
Size class	XX-Large

This stock has achievements: Insight 2024-04-18, Top 10 Stock.

26-Jun-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: HeidelbergCement

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	95	86	40	39
GROWTH
GROWTH	15	85	92	75
SAFETY
SAFETY	52	32	43	46
SENTIMENT
SENTIMENT	13	76	53	^new
360° VIEW
360° VIEW	29	86	69	^new

Most recent update of the stock research: 26-Jun-2025. Financial reporting date used for calculating ranks: 31-Dec-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better HeidelbergCement is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	95	86	40	39
GROWTH
GROWTH	15	85	92	75
SAFETY
SAFETY	52	32	43	46
COMBINED
COMBINED	64	80	72	56

Last update of combined financial performance: 26-Jun-2025. Stock analysis on combined financial performance: The higher the rank of HeidelbergCement the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 39 (worse than 61% compared with alternatives), HeidelbergCement shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for HeidelbergCement. Price-to-Profit (also referred to as price-earnings, P/E) is 54 which means that the stock price compared with what market professionals expect for future profits is lower than for 54% of comparable companies, indicating a good value concerning HeidelbergCement's profit levels. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 51, which means that the stock price is lower as regards to invested capital than for 51% of comparable investments. On the other hand, Price-to-Sales is less favorable than for 69% of alternatives (only 31% of peers have an even less favorable ratio). The same is valid for dividend yield, which is lower than for 54% of comparable companies, making the stock more expensive compared with the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 39, is a hold recommendation based on HeidelbergCement's stock price compared with the company's operational size and dividend yields. This is a puzzling picture, because it means that profits are high while dividends are low. Since the stock price is low compared with invested capital but high concerning expected revenues, the company has more invested capital than peers for generating the same amount of revenue. Since profits are higher, it could be a "cash cow" situation (using the classic Boston Consulting Group or BCG matrix naming convention) where the company is on a downward trend, still living from the profits of past products. As the company pays low dividends, it may harbor the opinion that a turnaround is possible, and it rather invests the cash than distribute it to shareholders through dividends, thus sealing the company's fate early. Any investment optimism should only be a buy trigger once thorough research is completed. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	81	65	36	31
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	87	85	56	54
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	85	79	54	51
DIVIDEND YIELD
DIVIDEND YIELD	70	74	45	46
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	95	86	40	39

Last update of Value Rank: 26-Jun-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of HeidelbergCement; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 75 (better than 75% compared with alternatives) for 2025, HeidelbergCement shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for HeidelbergCement. Profit Growth has a rank of 87, which means that currently professionals expect the company to grow its profits more than 87% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 99 (above 99% of alternative investments). But Sales Growth has a below the median rank of 37, which means that, currently, professionals expect the company to grow less than 63% of its competitors, and Capital Growth also has a lower rank of 32. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 75, is a buy recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for HeidelbergCement. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	21	44	49	37
PROFIT GROWTH
PROFIT GROWTH	75	71	71	87
CAPITAL GROWTH
CAPITAL GROWTH	42	63	88	32
STOCK RETURNS
STOCK RETURNS	19	89	98	99
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	15	85	92	75

Last update of Growth Rank: 26-Jun-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of HeidelbergCement.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 46 (better than 46% compared with alternatives), the company HeidelbergCement has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of HeidelbergCement is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for HeidelbergCement. Leverage is at a rank of 53, meaning the company has a below-average debt-to-equity ratio. It has less debt than 53% of its competitors. Liquidity is also good at a rank of 75, meaning the company generates more profit to service its debt than 75% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 13, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 87% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 46 (worse than 54% compared with alternatives), HeidelbergCement has a financing structure that is riskier than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for HeidelbergCement. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with HeidelbergCement and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	45	56	51	53
REFINANCING
REFINANCING	40	21	13	13
LIQUIDITY
LIQUIDITY	55	39	72	75
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	52	32	43	46

Last update of Safety Rank: 26-Jun-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of HeidelbergCement and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	26	30	^new
OPINIONS CHANGE
OPINIONS CHANGE	49	71	61	^new
PRO HOLDINGS
PRO HOLDINGS	28	96	75	^new
MARKET PULSE
MARKET PULSE	36	75	47	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	13	76	53	^new

Last update of Sentiment Rank: 26-Jun-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for HeidelbergCement.
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