HAL Trust HAL.AS
NetherlandsFinancial Services · Asset ManagementEuronext Ámsterdam · EUR
182.00 EUR (+12.5%)
2 analysts
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HAL Trust is a Dutch investment holding company that manages a diversified portfolio of stakes in companies across various sectors, including technology, healthcare, and consumer goods, with a long-term investment approach.
Listed on Euronext Ámsterdam · Symbol HAL.AS · AMS: HAL · Currency EUR
Key points
from its scores- ✓Favourable backdrop8.1
- ✓Good share-price trend7.5
- ✕Weak growth1.8
- !Balance sheet could be stronger5.4
- !Modest dividend5.8
AI analysis
bottom line, main risk, context and newsReasonable valuation and financial health offset negative growth, but wait for signs of improvement in holdings before increasing position.
HAL Trust shows solid financial health (ROE 9.68%) and attractive valuation (P/E 10.22, adjusted P/B 0.93), but growth is negative (revenue -8.80%, earnings -16.30%), reflecting a weak moment in its holdings.
The main risk is dependence on the performance of its holdings, whose negative growth (revenue -8.80%) could persist and erode the holding's value.
Context and risks
HAL Trust is an investment holding company based in the Netherlands, with no direct exposure to current macro factors (rates, energy, tariffs) that materially affect its asset management business. Its main risk is the quality of its holdings and the discount to net asset value, not the macro context.
Is HAL Trust stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 39% below the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 10.2 | 13.7 | −25% |
| EV / EBITDA | 5.4 | 10.1 | −46% |
| Price / book | 0.9 | 1.9 | −52% |
| Price / sales | 1.2 | 3.5 | −66% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 6.6 out of 10 (median for Financial Services: 5.2).
Average analyst target: 182.00 EUR, +12.5% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 5.4 (sector 5.5), Growth 1.8 (sector 6.9).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 10.2
- Forward P/E
- 13.8
- EV / EBITDA
- 5.4
- Price / book
- 0.9
- Price / sales
- 1.2
- Market cap
- 14.6B EUR
- Enterprise value
- 16.7B EUR
Profitability
- ROE
- 9.7%
- ROA
- 4.5%
- ROIC (approx.)
- 10.7%
- Gross margin
- 60.8%
- Operating margin
- 17.8%
- Net margin
- 11.3%
- Free cash flow
- 2.0B EUR
- FCF yield
- 13.8%
- Cash conversion
- 65%
Solvency
- Total debt
- 4.8B EUR
- Net debt
- −82.8M EUR
- Cash
- 4.9B EUR
- EBITDA
- 3.1B EUR
- Net debt / EBITDA
- −0.03
- Debt / equity
- 26.10
- Current ratio
- 1.44
- Quick ratio
- 1.11
Growth
- Revenue growth
- −8.8%
- Earnings growth
- −16.3%
- EPS (TTM)
- 15.83 EUR
- EPS (forward)
- 11.71 EUR
Dividend
- Dividend yield
- 2.2%
- Payout
- 22.1%
Risk and market
- Beta
- 0.65
- Analyst consensus
- none (2)
- Target price
- 182.00 EUR
- 52-week range
- 133.40 – 179.00
Recent news
All HAL.AS news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about HAL Trust
Is HAL Trust stock cheap or expensive?
On P/E and Price / book, it trades 39% below the Financial Services median on average. Valuation score: 6.6 out of 10 (median for Financial Services: 5.2). Average analyst target: 182.00 EUR, +12.5% versus the price. This is not investment advice.
What score does HAL Trust get on MeridIAn Screener?
It scores 6.1 out of 10, rank 902 of 2,130 (better than 55% of the companies analysed). Its strongest category is Risk & Context (8.1) and its weakest, Growth (1.8). Analysis of 08/10/2026.
What is HAL Trust's P/E ratio?
Its P/E is 10.2: the share price equals 10.2 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 13.8.
How much is HAL Trust worth on the stock market?
Its market capitalisation is 14.6B EUR.
Does HAL Trust pay a dividend?
Yes: its dividend yield is 2.16% and it pays out 22% of its earnings.
How has HAL Trust stock performed over the last year?
It has risen 23.8% over the last year, excluding dividends. Over the last 52 weeks it has traded between 133.40 and 179.00 EUR. Past performance does not guarantee future results.
What do analysts think of HAL Trust?
2 analysts cover it; their average recommendation is “none” and their average target is 182.00 EUR (+12.5% versus the price). It is an estimate, not market data.