(HAL) HAL Trust - Overview
Stock: Marine, Furniture, Real Estate, Medical, Finance
Dividends
| Dividend Yield | 2.50% |
| Yield on Cost 5y | 5.65% |
| Yield CAGR 5y | 4.99% |
| Payout Consistency | 93.1% |
| Payout Ratio | 15.2% |
| Risk 5d forecast | |
|---|---|
| Volatility | 14.2% |
| Relative Tail Risk | -5.35% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.81 |
| Alpha | 33.91 |
| Character TTM | |
|---|---|
| Beta | 0.032 |
| Beta Downside | 0.198 |
| Drawdowns 3y | |
|---|---|
| Max DD | 18.38% |
| CAGR/Max DD | 0.59 |
Description: HAL HAL Trust January 04, 2026
HAL Trust (AS:HAL) is a Rotterdam-based conglomerate operating across Europe, North America, and Asia through four segments-Unquoted, Quoted Interests, Real Estate, and Liquid Portfolio. Its activities span maritime services, emergency response, shipping, orthopedic devices, financial services, tank terminal operations, and a broad suite of construction-related and consumer-goods businesses.
The company’s portfolio includes niche businesses such as composite-panel manufacturing, greenhouse construction, optical retail, a radio station (BNR Nieuwsradio), and the offshore floating-facility platform, alongside traditional assets like residential and office property development and mortgage funding. This breadth creates a highly diversified revenue mix, but also introduces cross-segment execution risk.
According to the most recent annual report (FY 2023), HAL generated roughly €1.2 billion in revenue, with an EBITDA margin of about 7 % and total assets exceeding €2.5 billion. The Real Estate segment contributed roughly 40 % of revenue, while maritime and construction services together accounted for about 35 %. The firm’s liquid portfolio holds €300 million in marketable securities, providing a modest cash buffer in a volatile macro environment.
Key drivers for HAL’s performance include global maritime freight volumes (sensitive to container shipping rates), construction-sector cycles in Europe and North America, and rising demand for orthopedic and hearing-aid devices driven by an aging population. Additionally, the company’s exposure to ESG-linked projects (e.g., GHG-reduction investments) aligns with increasing capital flows toward sustainable assets, which can enhance financing terms and valuation multiples.
For a deeper quantitative view, consider reviewing HAL’s metrics on the ValueRay platform, where sector-adjusted valuation models can help you assess the trade-off between diversification benefits and execution risk.
Piotroski VR‑10 (Strict, 0-10) 8.5
| Net Income: 2.68b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA 4.37 > 1.0 |
| NWC/Revenue: 10.46% < 20% (prev 14.91%; Δ -4.44% < -1%) |
| CFO/TA 0.19 > 3% & CFO 5.21b > Net Income 2.68b |
| Net Debt (2.31b) to EBITDA (5.83b): 0.40 < 3 |
| Current Ratio: 1.48 > 1.5 & < 3 |
| Outstanding Shares: last quarter (90.3m) vs 12m ago -0.03% < -2% |
| Gross Margin: 33.64% > 18% (prev 0.44%; Δ 3319 % > 0.5%) |
| Asset Turnover: 96.04% > 50% (prev 73.99%; Δ 22.05% > 0%) |
| Interest Coverage Ratio: 5.96 > 6 (EBITDA TTM 5.83b / Interest Expense TTM 587.0m) |
Altman Z'' 3.38
| A: 0.10 (Total Current Assets 8.34b - Total Current Liabilities 5.64b) / Total Assets 27.48b |
| B: 0.11 (Retained Earnings 2.89b / Total Assets 27.48b) |
| C: 0.13 (EBIT TTM 3.50b / Avg Total Assets 26.91b) |
| D: 1.44 (Book Value of Equity 15.06b / Total Liabilities 10.43b) |
| Altman-Z'' Score: 3.38 = A |
Beneish M -2.68
| DSRI: 0.86 (Receivables 1.99b/1.76b, Revenue 25.84b/19.49b) |
| GMI: 1.32 (GM 33.64% / 44.39%) |
| AQI: 1.06 (AQ_t 0.34 / AQ_t-1 0.32) |
| SGI: 1.33 (Revenue 25.84b / 19.49b) |
| TATA: -0.09 (NI 2.68b - CFO 5.21b) / TA 27.48b) |
| Beneish M-Score: -2.68 (Cap -4..+1) = A |
What is the price of HAL shares?
Over the past week, the price has changed by +1.28%, over one month by +9.53%, over three months by +16.96% and over the past year by +38.15%.
Is HAL a buy, sell or hold?
What are the forecasts/targets for the HAL price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 171.3 | 8% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 173.9 | 9.6% |
HAL Fundamental Data Overview February 09, 2026
P/E Trailing = 8.3211
P/S = 1.057
P/B = 0.9512
Revenue TTM = 25.84b EUR
EBIT TTM = 3.50b EUR
EBITDA TTM = 5.83b EUR
Long Term Debt = 2.82b EUR (from longTermDebt, last quarter)
Short Term Debt = 980.4m EUR (from shortTermDebt, last quarter)
Debt = 4.80b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.31b EUR (from netDebt column, last quarter)
Enterprise Value = 15.09b EUR (14.33b + Debt 4.80b - CCE 4.04b)
Interest Coverage Ratio = 5.96 (Ebit TTM 3.50b / Interest Expense TTM 587.0m)
EV/FCF = 5.76x (Enterprise Value 15.09b / FCF TTM 2.62b)
FCF Yield = 17.37% (FCF TTM 2.62b / Enterprise Value 15.09b)
FCF Margin = 10.14% (FCF TTM 2.62b / Revenue TTM 25.84b)
Net Margin = 10.39% (Net Income TTM 2.68b / Revenue TTM 25.84b)
Gross Margin = 33.64% ((Revenue TTM 25.84b - Cost of Revenue TTM 17.15b) / Revenue TTM)
Gross Margin QoQ = 61.64% (prev 22.58%)
Tobins Q-Ratio = 0.55 (Enterprise Value 15.09b / Total Assets 27.48b)
Interest Expense / Debt = 3.50% (Interest Expense 168.1m / Debt 4.80b)
Taxrate = 12.45% (174.4m / 1.40b)
NOPAT = 3.06b (EBIT 3.50b * (1 - 12.45%))
Current Ratio = 1.48 (Total Current Assets 8.34b / Total Current Liabilities 5.64b)
Debt / Equity = 0.32 (Debt 4.80b / totalStockholderEquity, last quarter 15.06b)
Debt / EBITDA = 0.40 (Net Debt 2.31b / EBITDA 5.83b)
Debt / FCF = 0.88 (Net Debt 2.31b / FCF TTM 2.62b)
Total Stockholder Equity = 14.38b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.97% (Net Income 2.68b / Total Assets 27.48b)
RoE = 18.66% (Net Income TTM 2.68b / Total Stockholder Equity 14.38b)
RoCE = 20.33% (EBIT 3.50b / Capital Employed (Equity 14.38b + L.T.Debt 2.82b))
RoIC = 16.90% (NOPAT 3.06b / Invested Capital 18.12b)
WACC = 5.29% (E(14.33b)/V(19.13b) * Re(6.03%) + D(4.80b)/V(19.13b) * Rd(3.50%) * (1-Tc(0.12)))
Discount Rate = 6.03% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -100.0 | Cagr: -0.01%
[DCF Debug] Terminal Value 88.43% ; FCFF base≈2.12b ; Y1≈2.61b ; Y5≈4.45b
Fair Price DCF = 1408 (EV 129.55b - Net Debt 2.31b = Equity 127.23b / Shares 90.4m; r=5.90% [WACC]; 5y FCF grow 25.0% → 2.90% )
Revenue Correlation: 70.33 | Revenue CAGR: 32.22% | SUE: -0.29 | # QB: 0
EPS next Year (2026-12-31): EPS=14.66 | Chg30d=+1.060 | Revisions Net=+1 | Growth EPS=-0.7% | Growth Revenue=+3.9%