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HAL TRUST (HAL.AS) Stock Fundamental Analysis

AMS:HAL - Euronext Amsterdam - BMG455841020 - Common Stock - Currency: EUR

124.2  -0.4 (-0.32%)

Fundamental Rating

5

Taking everything into account, HAL scores 5 out of 10 in our fundamental rating. HAL was compared to 51 industry peers in the Financial Services industry. Both the profitability and the financial health of HAL get a neutral evaluation. Nothing too spectacular is happening here. HAL has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

HAL had positive earnings in the past year.
HAL had a positive operating cash flow in the past year.
Each year in the past 5 years HAL has been profitable.
Each year in the past 5 years HAL had a positive operating cash flow.
HAL.AS Yearly Net Income VS EBIT VS OCF VS FCFHAL.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

1.2 Ratios

With a decent Return On Assets value of 4.42%, HAL is doing good in the industry, outperforming 62.75% of the companies in the same industry.
With a Return On Equity value of 8.19%, HAL perfoms like the industry average, outperforming 49.02% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 5.74%, HAL is in line with its industry, outperforming 56.86% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for HAL is significantly below the industry average of 12.61%.
The 3 year average ROIC (4.86%) for HAL is below the current ROIC(5.74%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.42%
ROE 8.19%
ROIC 5.74%
ROA(3y)3.55%
ROA(5y)6.52%
ROE(3y)6.82%
ROE(5y)12.52%
ROIC(3y)4.86%
ROIC(5y)3.96%
HAL.AS Yearly ROA, ROE, ROICHAL.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

HAL has a Profit Margin (9.63%) which is comparable to the rest of the industry.
HAL's Profit Margin has declined in the last couple of years.
HAL has a Operating Margin of 12.03%. This is comparable to the rest of the industry: HAL outperforms 49.02% of its industry peers.
HAL's Operating Margin has improved in the last couple of years.
HAL has a Gross Margin of 55.45%. This is comparable to the rest of the industry: HAL outperforms 52.94% of its industry peers.
HAL's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 12.03%
PM (TTM) 9.63%
GM 55.45%
OM growth 3Y6.91%
OM growth 5Y4.41%
PM growth 3Y-45.09%
PM growth 5Y-5.6%
GM growth 3Y-1.5%
GM growth 5Y-4.02%
HAL.AS Yearly Profit, Operating, Gross MarginsHAL.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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5

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so HAL is destroying value.
Compared to 1 year ago, HAL has about the same amount of shares outstanding.
Compared to 5 years ago, HAL has more shares outstanding
HAL has a better debt/assets ratio than last year.
HAL.AS Yearly Shares OutstandingHAL.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
HAL.AS Yearly Total Debt VS Total AssetsHAL.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

2.2 Solvency

Based on the Altman-Z score of 1.40, we must say that HAL is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.40, HAL is in line with its industry, outperforming 41.18% of the companies in the same industry.
HAL has a debt to FCF ratio of 3.70. This is a good value and a sign of high solvency as HAL would need 3.70 years to pay back of all of its debts.
HAL has a better Debt to FCF ratio (3.70) than 70.59% of its industry peers.
HAL has a Debt/Equity ratio of 0.28. This is a healthy value indicating a solid balance between debt and equity.
HAL has a better Debt to Equity ratio (0.28) than 62.75% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 3.7
Altman-Z 1.4
ROIC/WACC0.75
WACC7.63%
HAL.AS Yearly LT Debt VS Equity VS FCFHAL.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B

2.3 Liquidity

HAL has a Current Ratio of 1.37. This is a normal value and indicates that HAL is financially healthy and should not expect problems in meeting its short term obligations.
With a decent Current ratio value of 1.37, HAL is doing good in the industry, outperforming 60.78% of the companies in the same industry.
HAL has a Quick Ratio of 1.19. This is a normal value and indicates that HAL is financially healthy and should not expect problems in meeting its short term obligations.
HAL has a Quick ratio of 1.19. This is comparable to the rest of the industry: HAL outperforms 56.86% of its industry peers.
Industry RankSector Rank
Current Ratio 1.37
Quick Ratio 1.19
HAL.AS Yearly Current Assets VS Current LiabilitesHAL.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

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4

3. Growth

3.1 Past

HAL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 19.63%, which is quite good.
The Earnings Per Share has been growing by 12.47% on average over the past years. This is quite good.
Looking at the last year, HAL shows a decrease in Revenue. The Revenue has decreased by -0.60% in the last year.
The Revenue has been growing by 19.38% on average over the past years. This is quite good.
EPS 1Y (TTM)19.63%
EPS 3Y-34.15%
EPS 5Y12.47%
EPS Q2Q%55.23%
Revenue 1Y (TTM)-0.6%
Revenue growth 3Y19.62%
Revenue growth 5Y19.38%
Sales Q2Q%-0.03%

3.2 Future

The Earnings Per Share is expected to decrease by -6.33% on average over the next years.
The Revenue is expected to grow by 3.44% on average over the next years.
EPS Next Y-18.61%
EPS Next 2Y-6.33%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year3.59%
Revenue Next 2Y3.69%
Revenue Next 3Y3.44%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
HAL.AS Yearly Revenue VS EstimatesHAL.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 5B 10B
HAL.AS Yearly EPS VS EstimatesHAL.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 5 10 15

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6

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 9.28, the valuation of HAL can be described as very reasonable.
74.51% of the companies in the same industry are more expensive than HAL, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 26.48, HAL is valued rather cheaply.
With a Price/Forward Earnings ratio of 8.49, the valuation of HAL can be described as very reasonable.
Based on the Price/Forward Earnings ratio, HAL is valued cheaper than 80.39% of the companies in the same industry.
HAL is valuated cheaply when we compare the Price/Forward Earnings ratio to 34.04, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 9.28
Fwd PE 8.49
HAL.AS Price Earnings VS Forward Price EarningsHAL.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, HAL is valued a bit cheaper than the industry average as 78.43% of the companies are valued more expensively.
82.35% of the companies in the same industry are more expensive than HAL, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 8.61
EV/EBITDA 3.34
HAL.AS Per share dataHAL.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 50 100 150

4.3 Compensation for Growth

A cheap valuation may be justified as HAL's earnings are expected to decrease with -6.33% in the coming years.
PEG (NY)N/A
PEG (5Y)0.74
EPS Next 2Y-6.33%
EPS Next 3YN/A

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4

5. Dividend

5.1 Amount

HAL has a Yearly Dividend Yield of 2.33%. Purely for dividend investing, there may be better candidates out there.
HAL's Dividend Yield is a higher than the industry average which is at 3.57.
HAL's Dividend Yield is comparable with the S&P500 average which is at 2.39.
Industry RankSector Rank
Dividend Yield 2.33%

5.2 History

The dividend of HAL has a limited annual growth rate of 3.12%.
Dividend Growth(5Y)3.12%
Div Incr Years1
Div Non Decr Years1
HAL.AS Yearly Dividends per shareHAL.AS Yearly Dividends per shareYearly Dividends per share 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

21.29% of the earnings are spent on dividend by HAL. This is a low number and sustainable payout ratio.
DP21.29%
EPS Next 2Y-6.33%
EPS Next 3YN/A
HAL.AS Yearly Income VS Free CF VS DividendHAL.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B
HAL.AS Dividend Payout.HAL.AS Dividend Payout, showing the Payout Ratio.HAL.AS Dividend Payout.PayoutRetained Earnings

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HAL TRUST

AMS:HAL (8/8/2025, 7:00:00 PM)

124.2

-0.4 (-0.32%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)03-27 2025-03-27/amc
Earnings (Next)08-28 2025-08-28
Inst Owners1.17%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap11.22B
Analysts80
Price Target147.56 (18.81%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.33%
Yearly Dividend2.85
Dividend Growth(5Y)3.12%
DP21.29%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-1.59%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.24%
Revenue NY rev (3m)-1.24%
Valuation
Industry RankSector Rank
PE 9.28
Fwd PE 8.49
P/S 0.89
P/FCF 8.61
P/OCF 4.28
P/B 0.76
P/tB 1
EV/EBITDA 3.34
EPS(TTM)13.39
EY10.78%
EPS(NY)14.62
Fwd EY11.78%
FCF(TTM)14.42
FCFY11.61%
OCF(TTM)29.04
OCFY23.38%
SpS139.04
BVpS163.51
TBVpS124.05
PEG (NY)N/A
PEG (5Y)0.74
Profitability
Industry RankSector Rank
ROA 4.42%
ROE 8.19%
ROCE 7.02%
ROIC 5.74%
ROICexc 7.14%
ROICexgc 8.93%
OM 12.03%
PM (TTM) 9.63%
GM 55.45%
FCFM 10.37%
ROA(3y)3.55%
ROA(5y)6.52%
ROE(3y)6.82%
ROE(5y)12.52%
ROIC(3y)4.86%
ROIC(5y)3.96%
ROICexc(3y)6.26%
ROICexc(5y)5.15%
ROICexgc(3y)7.93%
ROICexgc(5y)6.38%
ROCE(3y)5.96%
ROCE(5y)4.86%
ROICexcg growth 3Y18.16%
ROICexcg growth 5Y19.86%
ROICexc growth 3Y16.74%
ROICexc growth 5Y16.84%
OM growth 3Y6.91%
OM growth 5Y4.41%
PM growth 3Y-45.09%
PM growth 5Y-5.6%
GM growth 3Y-1.5%
GM growth 5Y-4.02%
F-Score6
Asset Turnover0.46
Health
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 3.7
Debt/EBITDA 1.48
Cap/Depr 101.01%
Cap/Sales 10.51%
Interest Coverage 7.57
Cash Conversion 93.08%
Profit Quality 107.75%
Current Ratio 1.37
Quick Ratio 1.19
Altman-Z 1.4
F-Score6
WACC7.63%
ROIC/WACC0.75
Cap/Depr(3y)80.65%
Cap/Depr(5y)93.01%
Cap/Sales(3y)9.49%
Cap/Sales(5y)10.91%
Profit Quality(3y)106.36%
Profit Quality(5y)101.55%
High Growth Momentum
Growth
EPS 1Y (TTM)19.63%
EPS 3Y-34.15%
EPS 5Y12.47%
EPS Q2Q%55.23%
EPS Next Y-18.61%
EPS Next 2Y-6.33%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-0.6%
Revenue growth 3Y19.62%
Revenue growth 5Y19.38%
Sales Q2Q%-0.03%
Revenue Next Year3.59%
Revenue Next 2Y3.69%
Revenue Next 3Y3.44%
Revenue Next 5YN/A
EBIT growth 1Y-0.36%
EBIT growth 3Y27.88%
EBIT growth 5Y24.64%
EBIT Next Year34.17%
EBIT Next 3Y11.91%
EBIT Next 5YN/A
FCF growth 1Y3.77%
FCF growth 3Y19.84%
FCF growth 5Y9.6%
OCF growth 1Y8.66%
OCF growth 3Y20.81%
OCF growth 5Y6.87%