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 14,573 - -
Change - -15.88% -3.28% 1.42% 22.52% 14.07% - -
Enterprise Value (EV) 1 10,882 11,339 10,533 10,531 12,732 15,941 15,947 15,550
Change - 4.2% -7.11% -0.02% 20.89% 25.21% 0.04% -2.49%
P/E 2.94x 16.3x 10.2x 8.62x 8x 11.7x 13.8x 11.2x
PBR 1.02x 0.82x 0.75x 0.71x 0.82x 1x 0.98x 0.94x
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 1.11x 1.09x 1.09x
EV / Revenue 0.97x 1.03x 0.81x 0.81x 0.95x 1.22x 1.19x 1.17x
EV / EBITDA 2.09x 4.64x 3.59x 3.31x 3.63x 5.26x 5.78x 4.98x
EV / EBIT 2.44x 14.1x 6.57x 5.63x 5.24x 8.26x 9.81x 7.92x
EV / FCF 14.4x 20.8x 8.39x 8.08x 8.24x 13.8x 15.4x 12.1x
FCF Yield 6.96% 4.8% 11.9% 12.4% 12.1% 7.23% 6.49% 8.27%
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% 2.48% 2.48% 2.48%
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 2 139.93 117.65 113.80 115.40 141.40 161.40 161.40 161.40
Nbr of stocks (in thousands) 90,321 90,364 90,352 90,360 90,350 90,290 - -
Announcement Date 30/3/22 29/3/23 27/3/24 27/3/25 27/3/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.71x1.22x5.26x2.48% 16.91B
7.48x14.78x - -.--% 14.59B
6.21x9.63x28.11x2.55% 12.07B
11.33x0.57x10.77x3.54% 11.25B
Average 9.18x 6.55x 14.71x 2.14% 13.71B
Weighted average by Cap. 9.30x 6.55x 13.65x 2.05%

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