Haleon PLC (GB:HLN)
LSE:HLN
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Haleon PLC
(LSE:HLN)
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Rating:67Neutral
Price Target:
410.00 p
▲(9.95% Upside)
Action:DowngradedDate:02/26/26
The score is driven primarily by solid financial performance (consistent free cash flow and improving profitability) and a cautiously positive earnings outlook supported by margin gains and cost savings. This is tempered by weaker near-term technical momentum and only moderate valuation support.
Positive Factors
Consistent free cash flow generation
Haleon's steady OCF (~$2.1–2.3B) and FCF (~$1.7–2.0B) provide durable internal funding for reinvestment, debt reduction, buybacks and R&D. Reliable cash conversion supports strategic flexibility and lowers dependence on external financing over the medium term.
Negative Factors
Elevated leverage vs pre‑spin years
Although debt fell in 2025, leverage remains meaningfully above 2020–21 levels and assets have declined, reducing balance‑sheet headroom. Elevated leverage constrains capital allocation flexibility, increases interest and refinancing risk, and limits capacity for large M&A or cyclical shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent free cash flow generation
Haleon's steady OCF (~$2.1–2.3B) and FCF (~$1.7–2.0B) provide durable internal funding for reinvestment, debt reduction, buybacks and R&D. Reliable cash conversion supports strategic flexibility and lowers dependence on external financing over the medium term.
Read all positive factors
Haleon PLC (HLN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£33.25B
Dividend Yield1.51%
Average Volume (3M)23.77M
Price to Earnings (P/E)―
Beta (1Y)0.40
Revenue Growth-2.12%
EPS Growth42.10%
CountryUK
Employees24,561
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.05
Shares Outstanding8,918,545,000
10 Day Avg. Volume25,018,353
30 Day Avg. Volume23,772,072
Financial Highlights & Ratios
PEG Ratio1.07
Price to Book (P/B)2.05
Price to Sales (P/S)3.05
P/FCF Ratio16.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£435.91Price Target Upside16.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)0.21
Revenue Forecast (FY)£11.41B
Haleon PLC Business Overview & Revenue Model
Company Description
Haleon plc engages in the research and development, manufacture, and sale of various consumer healthcare products in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company provides therapeutic oral health,...
How the Company Makes Money
Haleon generates revenue primarily through the sale of its consumer healthcare products across various categories, including oral health, pain relief, respiratory health, and dietary supplements. The company's revenue model is based on direct sale...
Haleon PLC Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: strong operational and margin progress (220 bps gross margin improvement), clear portfolio wins in Oral Health, meaningful cost-savings plans ($175–$200m) and strong emerging market execution (India, China). Offsetting this were persistent top-line and volume weaknesses, a weak cold & flu season (impacting the U.S. and other regions), channel inventory destocking and category-specific pressures (e.g., Nexium). Management signaled confidence in returning to medium-term growth targets but provided a conservative near-term organic guidance range (3%–5%) reflecting market uncertainty.Positive Updates
Organic Sales Growth Guidance
Guided organic sales growth of 3%–5% for FY2026, and reiterated medium-term ambition of 4%–6% despite FY2025 organic growth of 3%.
Negative Updates
U.S. Market Softness
U.S. sales were down approximately 0.5% in FY2025; company expects the U.S. cold and flu season to be below prior year in Q1 and recognized the U.S. remains a key area requiring improvement to hit medium-term targets.
Read all updates
Q4-2025 Updates
Positive
Negative
Organic Sales Growth Guidance
Guided organic sales growth of 3%–5% for FY2026, and reiterated medium-term ambition of 4%–6% despite FY2025 organic growth of 3%.
Read all positive updates
Company Guidance
Management guided 2026 organic sales growth of 3–5% (with a medium‑term ambition of 4–6%), noting FY25 organic growth was 3% (U.S. -0.5%) and that Q1 cold & flu is expected to be below a year ago but the U.S. should return to growth in 2026; they cited 220 basis points of gross‑margin improvement in 2025, $175–200m of gross savings from the reorganisation, and the ability to deliver high‑single‑digit operating growth at constant currency while still investing for growth, with 50–80 bps of supply‑chain productivity built into guidance; A&P rose ~7.5% (to ~20.5% of sales) and R&D +7.7%, working media was +12%, ROI improved mid‑single digits with ~75% coverage, and emerging markets showed strong metrics (India double‑digit growth, China e‑commerce ~40% of sales, Douyin >100% growth).Haleon PLC Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
63
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.02B | 11.03B | 11.23B | 11.30B | 10.86B | 9.54B |
| Gross Profit | 6.81B | 7.14B | 6.82B | 6.75B | 6.73B | 5.95B |
| EBITDA | 2.79B | 2.83B | 2.68B | 2.67B | 2.68B | 2.21B |
| Net Income | 1.52B | 1.67B | 1.44B | 1.05B | 1.06B | 1.39B |
Balance Sheet | ||||||
| Total Assets | 31.83B | 32.63B | 34.31B | 34.05B | 34.81B | 34.45B |
| Cash, Cash Equivalents and Short-Term Investments | 676.00M | 1.32B | 2.19B | 1.04B | 684.00M | 414.00M |
| Total Debt | 8.54B | 8.61B | 10.10B | 9.46B | 10.44B | 991.00M |
| Total Liabilities | 15.83B | 16.15B | 18.09B | 17.33B | 18.36B | 7.97B |
| Stockholders Equity | 15.94B | 16.43B | 16.17B | 16.61B | 16.33B | 26.36B |
Cash Flow | ||||||
| Free Cash Flow | 931.00M | 2.02B | 1.98B | 1.76B | 1.74B | 1.06B |
| Operating Cash Flow | 1.03B | 2.34B | 2.30B | 2.10B | 2.06B | 1.36B |
| Investing Cash Flow | -76.00M | -580.00M | 528.00M | -134.00M | -8.78B | -33.00M |
| Financing Cash Flow | -2.52B | -2.61B | -1.54B | -1.57B | 6.91B | -1.24B |
Haleon PLC Technical Analysis
Negative
372.90
Price Trends
385.93
Negative
377.34
Negative
366.13
Positive
Market Momentum
-4.46
Negative
46.70
Neutral
67.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HLN, the sentiment is Negative. The current price of 372.9 is below the 20-day moving average (MA) of 373.64, below the 50-day MA of 385.93, and above the 200-day MA of 366.13, indicating a neutral trend. The MACD of -4.46 indicates Negative momentum. The RSI at 46.70 is Neutral, neither overbought nor oversold. The STOCH value of 67.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:HLN.
Haleon PLC Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | £33.25B | ― | 6.43% | 1.51% | -2.12% | 42.10% | |
65 Neutral | £77.36M | -8.91 | -0.12% | ― | ― | ― | |
63 Neutral | £91.88M | -1.10 | 206.44% | ― | 93.48% | 51.18% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | £652.25M | ― | 227.10% | ― | -0.28% | 22.94% | |
45 Neutral | £22.87M | -11.67 | -51.21% | ― | 61.13% | 33.33% |
* Healthcare Sector Average
GB:HLN
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Haleon PLC Corporate Events
DividendsFinancial Disclosures
Haleon lifts 2025 dividend on strong cash generation and earnings growth
Positive
Feb 25, 2026
Haleon plc, the consumer health group behind brands such as Sensodyne, Panadol and Advil, operates globally across oral care, pain relief, vitamins and other everyday health categories, targeting mass-market demand for over-the-counter products. T...
Regulatory Filings and Compliance
Haleon executives acquire shares under company reward plan
Neutral
Feb 12, 2026
Haleon plc has disclosed share transactions by senior executives Adrian Morris, General Counsel, and Jonathan Workman, President Europe, under the company’s Share Reward Plan. Both executives acquired partnership shares and received matching...
Regulatory Filings and Compliance
Haleon Confirms Voting Share Capital and Denominator for FCA Disclosure Rules
Neutral
Feb 2, 2026
Haleon plc has confirmed that as of 31 January 2026 it has 8,952,353,648 issued ordinary shares of £0.01 each, of which 45,557,120 are held in treasury, leaving 8,906,796,528 ordinary shares in issue with voting rights. The company stated tha...
Executive/Board Changes
Haleon CFO Dawn Allen to Chair ITV’s Audit & Risk Committee
Positive
Jan 21, 2026
Haleon plc announced that its Chief Financial Officer, Dawn Allen, has been appointed Chair of the Audit Risk Committee of ITV plc, effective 5 March 2026. Allen, who has served as a Non-Executive Director and member of ITV’s Audit Risk Co...
Business Operations and StrategyExecutive/Board Changes
Haleon Overhauls Operating Model to Accelerate Consumer Health Growth
Positive
Jan 8, 2026
Haleon plc has announced a major evolution of its operating model to support its “Win as One” strategy, aiming to boost growth, productivity and organisational agility by mid-2026. The company is creating a new Chief Growth Officer rol...
Executive/Board ChangesRegulatory Filings and Compliance
Haleon Executives Acquire Shares Under Company Reward Plan
Neutral
Jan 6, 2026
Haleon plc has disclosed share transactions by senior executives in line with UK Market Abuse Regulation requirements, confirming that General Counsel Adrian Morris and Chief Marketing Officer Tamara Rogers each acquired 34 partnership shares and ...
Regulatory Filings and Compliance
Haleon Updates Share Capital and Voting Rights Total
Neutral
Jan 2, 2026
Haleon plc has confirmed that as of 31 December 2025 it has 8,952,353,648 ordinary shares in issue, of which 45,745,646 are held in treasury, leaving 8,906,608,002 ordinary shares carrying voting rights. This updated share capital and voting right...
Business Operations and StrategyExecutive/Board Changes
Haleon PLC Announces Leadership Changes in Board and Committees
Neutral
Dec 15, 2025
Haleon PLC has announced significant changes in its board and committee leadership, with Alan Stewart set to become the Senior Independent Director, succeeding Vindi Banga, who will assume the role of Chair effective January 1, 2026. These changes...
Regulatory Filings and Compliance
Haleon PLC Discloses Managerial Share Transactions
Neutral
Dec 10, 2025
Haleon PLC announced the notification and public disclosure of transactions by its managerial staff as per UK Market Abuse Regulation. The transactions involved the acquisition of partnership shares and awarding of matching shares under the compan...
Regulatory Filings and Compliance
Haleon PLC Updates on Total Voting Rights and Share Capital
Neutral
Dec 1, 2025
Haleon PLC announced that as of November 30, 2025, it has issued a total of 8,952,353,648 ordinary shares, with 45,882,158 held as treasury shares. This results in 8,906,471,490 shares with voting rights, a figure crucial for shareholders and stak...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.