Heidelberg Materials AG (HEI.DE)
Basic Materials · GER · Germany
Fundamentals
Valuation and ratings
Heidelberg Materials AG trades at EUR171.50, close to the EUR182.07 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 58 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 15.6 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
HEI.DE dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | EUR3.60 | 1 |
| 2025 | EUR3.30 | 1 |
| 2024 | EUR3.00 | 1 |
| 2023 | EUR2.60 | 1 |
| 2022 | EUR2.40 | 1 |
| 2021 | EUR2.20 | 1 |
| 2020 | EUR0.600 | 1 |
| 2019 | EUR2.10 | 1 |
| 2018 | EUR1.90 | 1 |
| 2017 | EUR1.60 | 1 |
| 2016 | EUR1.30 | 1 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
HEI.DE earnings and analyst estimates
Recommendation mix, 20 analyst ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Heidelberg Materials AG
Heidelberg Materials AG, together with its subsidiaries, produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide. The company provides cement products; natural stone aggregates, including sand and gravel; crushed aggregates comprising stone chippings and crushed stones; and ready-mixed concrete for use in the construction of tunnels or bridges, office buildings, or schools, as well as to produce precast concrete parts, such as stairs, ceiling elements, or structural components. It also offers asphalt; and trades in cement, clinker, secondary cementitious materials, solid, alternative fuels, other building materials, and additives. The company was formerly known as HeidelbergCement AG and changed its name to Heidelberg Materials AG in May 2023. Heidelberg Materials AG was founded in 1873 and is headquartered in Heidelberg, Germany.
Common questions
Is Heidelberg Materials AG (HEI.DE) undervalued?
Against our discounted cash flow estimate of EUR182.07, HEI.DE at EUR171.50 is 6% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is HEI.DE's P/E ratio?
HEI.DE trades at 15.6 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Heidelberg Materials AG (HEI.DE) pay a dividend?
Yes. Heidelberg Materials AG yields 2.07% at the current share price. It has paid EUR3.60 per share over the trailing twelve months. It has paid a dividend in each of the last 22 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
When does HEI.DE report earnings next?
Heidelberg Materials AG is scheduled to report on 30 Jul 2026. Companies move earnings dates, so read it as scheduled rather than certain.
The full research page for HEI.DE, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.