Company Valuation: HAL Trust

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 12,638 10,631 10,282 10,428 12,776 14,775 - -
Change - -15.88% -3.28% 1.42% 22.52% 15.65% - -
Enterprise Value (EV) 1 10,882 11,339 10,533 10,531 12,732 16,143 16,149 15,752
Change - 4.2% -7.11% -0.02% 20.89% 26.8% 0.04% -2.46%
P/E 2.94x 16.3x 10.2x 8.62x 8x 11.9x 14x 11.3x
PBR 1.02x 0.82x 0.75x 0.71x 0.82x 1.01x 0.99x 0.95x
PEG - -0.2x 0.2x 0.4x 0.2x -0.5x -0.9x 0.5x
Capitalization / Revenue 1.13x 0.96x 0.79x 0.8x 0.95x 1.13x 1.11x 1.11x
EV / Revenue 0.97x 1.03x 0.81x 0.81x 0.95x 1.23x 1.21x 1.18x
EV / EBITDA 2.09x 4.64x 3.59x 3.31x 3.63x 5.32x 5.86x 5.04x
EV / EBIT 2.44x 14.1x 6.57x 5.63x 5.24x 8.37x 9.94x 8.02x
EV / FCF 14.4x 20.8x 8.39x 8.08x 8.24x 14x 15.6x 12.3x
FCF Yield 6.96% 4.8% 11.9% 12.4% 12.1% 7.14% 6.4% 8.16%
Dividend per Share 2 5.47 4.902 2.85 2.9 3.5 4 4 4
Rate of return 3.91% 4.17% 2.5% 2.51% 2.48% 2.44% 2.44% 2.44%
EPS 2 47.63 7.225 11.17 13.39 17.68 13.78 11.71 14.44
Distribution rate 11.5% 67.8% 25.5% 21.7% 19.8% 29% 34.2% 27.7%
Net sales 1 11,196 11,043 13,058 13,073 13,401 13,072 13,366 13,328
EBITDA 1 5,208 2,446 2,934 3,178 3,507 3,033 2,757 3,125
EBIT 1 4,465 806.9 1,603 1,871 2,431 1,929 1,625 1,963
Net income 1 4,270 646.8 1,000 1,210 1,597 1,245 1,057 1,305
Net Debt 1 -1,756 708 251.2 103.7 -44 1,368 1,374 977
Reference price 2 139.93 117.65 113.80 115.40 141.40 163.60 163.60 163.60
Nbr of stocks (in thousands) 90,321 90,364 90,352 90,360 90,350 90,314 - -
Announcement Date 30/03/22 29/03/23 27/03/24 27/03/25 27/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.96x1.24x5.36x2.43% 1.69TCr
8.1x15.05x - -.--% 1.57TCr
29.37x7.26x14.64x2.47% 1.24TCr
11.33x0.57x10.77x3.53% 1.11TCr
Average 15.19x 6.03x 10.26x 2.11% 1.4TCr
Weighted average by Cap. 14.61x 6.31x 9.70x 1.97%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield