HAL Trust HAL.AS · EUR
Financials · Diversified Financial Services · Euronext Amsterdam · 🇳🇱 Netherlands
170.80
+0.71%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue, before interest expense
€12.55bn
FY2016FY2025
Net income
€1.60bn
FY2016FY2025
Total assets
€28.14bn
FY2016FY2025
Shareholders' equity
€15.63bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | €12.55bn | €12.51bn | €12.99bn | €10.02bn | €7.31bn | €5.31bn | €5.18bn | €4.63bn | €8.00bn | €8.04bn |
| Research and development | €41.6m | €37.4m | €18.8m | €29.3m | €25.1m | €25.4m | €28.0m | €23.8m | €26.6m | €27.9m |
| Operating income | €2.40bn | €1.87bn | €1.60bn | €806.9m | €4.47bn | €531.3m | €960.2m | €437.3m | €967.2m | €1.64bn |
| Net income | €1.60bn | €1.21bn | €1.00bn | €646.8m | €4.27bn | €622.8m | €665.5m | €155.3m | €390.5m | €871.0m |
| Diluted earnings per share | 17.68 | 13.39 | 11.07 | 7.19 | 47.04 | 6.86 | 7.33 | 1.72 | 4.50 | 10.24 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €28.14bn | €27.34bn | €26.34bn | €26.71bn | €22.62bn | €20.27bn | €19.76bn | €16.48bn | €16.09bn | €16.62bn |
| Cash and short-term investments | €4.97bn | €4.32bn | €4.77bn | €5.69bn | €6.69bn | €1.62bn | €1.78bn | €2.55bn | €2.83bn | €3.38bn |
| Total liabilities | €10.41bn | €10.43bn | €10.47bn | €11.48bn | €7.82bn | €9.67bn | €9.21bn | €6.57bn | €6.34bn | €6.86bn |
| Debt | €4.80bn | €4.83bn | €4.84bn | €6.22bn | €4.80bn | €4.12bn | €3.72bn | €3.65bn | €3.57bn | €3.89bn |
| Shareholders' equity | €15.63bn | €14.78bn | €13.68bn | €13.01bn | €12.43bn | €8.01bn | €8.01bn | €7.51bn | €7.60bn | €7.62bn |
| Shares outstanding | 90m | 90m | 90m | 90m | 91m | 91m | 91m | 90m | 87m | 85m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | €6.14bn | €6.08bn | €6.93bn | €6.36bn | €6.15bn | €6.41bn | €3.30bn | €6.25bn |
| Operating income | €993.8m | €675.7m | €1.52bn | €745.2m | €700.6m | €767.5m | €470.9m | €761.8m |
| Net income | €856.1m | €573.1m | €1.02bn | €699.8m | €509.9m | €450.5m | €225.3m | €550.0m |
| Diluted earnings per share | 9.48 | 6.35 | 11.34 | 7.75 | 5.64 | 4.99 | 2.49 | 6.09 |
| Total assets | €28.90bn | €28.14bn | €27.48bn | €27.34bn | €26.67bn | €26.34bn | €26.34bn | €26.52bn |
| Cash and short-term investments | €4.84bn | €4.97bn | €4.04bn | €4.32bn | €4.28bn | €4.77bn | €4.77bn | €4.88bn |
| Debt | €1.30bn | €3.84bn | €3.80bn | €3.81bn | €4.21bn | €3.88bn | €1.50bn | €4.56bn |
| Shareholders' equity | €16.28bn | €15.63bn | €15.06bn | €14.78bn | €14.02bn | €13.68bn | €13.68bn | €13.29bn |
Financial ratios
Data as of 30 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 19.1% | 15.0% | 12.3% | 8.1% | 61.1% | 10.0% |
| Net margin | 12.7% | 9.7% | 7.7% | 6.5% | 58.4% | 11.7% |
| Return on equity | 10.2% | 8.2% | 7.3% | 5.0% | 34.3% | 7.8% |
| Return on assets | 5.7% | 4.4% | 3.8% | 2.4% | 18.9% | 3.1% |
| Revenue growth | 0.3% | -3.7% | 29.7% | 36.9% | 37.6% | 2.6% |
| Earnings growth | 32.0% | 20.9% | 54.7% | -84.9% | 585.6% | -6.4% |
| Current ratio | 1.51x | 1.37x | 1.47x | 1.56x | 3.02x | 1.58x |
| Debt to equity | 0.25x | 0.26x | 0.28x | 0.40x | 0.31x | 0.40x |
| Equity ratio | 55.5% | 54.0% | 51.9% | 48.7% | 55.0% | 39.5% |
| Interest coverage | 11.34x | 8.45x | 6.10x | 3.74x | 26.88x | 4.03x |
| R&D as a share of sales | 0.3% | 0.3% | 0.1% | 0.3% | 0.3% | 0.5% |
| Buybacks as a share of market value | 0.0% | 0.0% | -0.4% | 0.9% | -0.1% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.8% | 18.7% | 4.9% |
| Operating income | 43.8% | 35.2% | 6.4% |
| Net income | 35.2% | 20.7% | 9.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 17.0% | 13.9% | 19.2% | 18.0% |
| Net margin | 11.2% | 9.3% | 15.4% | 12.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 7.9 | 8.6 | 10.3 | 16.7 | 3.0 | 16.4 | 18.5 | 71.5 | 30.9 | 15.6 |
| Price to sales | 1.0 | 0.8 | 0.8 | 1.1 | 1.8 | 1.9 | 2.4 | 2.4 | 1.5 | 1.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 14 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.50 | 2.90 | 2.85 | 2.451 | 2.735 | 2.255 | 2.678 | 2.396 |
- 1-to-1 reverse split · 19 May 2023
- 1.022-for-1 split · 20 May 2022
- 1.016-for-1 split · 21 May 2021
- 1.023-for-1 split · 26 Jun 2020
- 1.021-for-1 split · 20 May 2019
- 1.02-for-1 split · 21 May 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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