HAL Trust (NL:HAL)
:HAL
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HAL Trust
(HAL)
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Select Model
Rating:76Outperform
Price Target:
€193.00
▲(33.47% Upside)
Action:ReiteratedDate:04/09/26
The score is driven primarily by solid financial strength (strong cash generation and a strengthening balance sheet) and very attractive valuation (low P/E). Technicals are supportive but not strong, with neutral momentum indicators tempering the overall rating.
Positive Factors
Strong recurring cash generation
HAL's operating cash flow growth (2022–2025) and a material free cash flow rebound in 2025 indicate durable internal cash generation from portfolio companies. Reliable cash supports dividends, reinvestment, debt reduction and opportunistic acquisitions, bolstering long-term financial resilience.
Negative Factors
Recent revenue declines
Two consecutive years of negative revenue growth signal weakening underlying top-line momentum at portfolio companies. Sustained sales declines can reduce future dividend flows and capital gain potential, making HAL's distributions and NAV growth more dependent on asset sales or cyclical recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong recurring cash generation
HAL's operating cash flow growth (2022–2025) and a material free cash flow rebound in 2025 indicate durable internal cash generation from portfolio companies. Reliable cash supports dividends, reinvestment, debt reduction and opportunistic acquisitions, bolstering long-term financial resilience.
Read all positive factors
HAL Trust (HAL) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€15.45B
Dividend Yield2.07%
Average Volume (3M)17.41K
Price to Earnings (P/E)2.7
Beta (1Y)0.53
Revenue Growth2.01%
EPS Growth79.48%
CountryNL
Employees31,846
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)6.35
Shares Outstanding90,370,865
10 Day Avg. Volume12,727
30 Day Avg. Volume17,410
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)13.43
Revenue Forecast (FY)€14.19B
HAL Trust Business Overview & Revenue Model
Company Description
HAL Trust, together with its subsidiaries, engages in the building materials, construction, office furniture, staffing, shipping, orthopedic devices, media, and other businesses in Europe, the United States, Canada, Asia, and internationally. The ...
How the Company Makes Money
HAL primarily makes money as an investment holding company through (1) dividends and profit distributions received from its majority-owned and affiliated businesses, (2) its share of earnings from equity-accounted investments (for significant mino...
HAL Trust Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
74
Positive
Cash Flow
77
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 12.55B | 12.51B | 12.99B | 10.02B | 7.31B |
| Gross Profit | 3.23B | 4.79B | 7.08B | 3.40B | 2.93B |
| EBITDA | 3.47B | 3.26B | 2.65B | 895.80M | 4.84B |
| Net Income | 1.60B | 1.21B | 1.00B | 646.80M | 4.27B |
Balance Sheet | |||||
| Total Assets | 28.14B | 27.34B | 26.34B | 26.71B | 22.62B |
| Cash, Cash Equivalents and Short-Term Investments | 4.97B | 4.32B | 4.77B | 5.69B | 6.69B |
| Total Debt | 4.80B | 4.83B | 4.84B | 6.22B | 4.80B |
| Total Liabilities | 10.41B | 10.43B | 10.47B | 11.48B | 7.82B |
| Stockholders Equity | 15.63B | 14.78B | 13.68B | 13.01B | 12.43B |
Cash Flow | |||||
| Free Cash Flow | 1.49B | 1.22B | 1.26B | 505.00M | 665.00M |
| Operating Cash Flow | 2.68B | 2.62B | 2.41B | 1.44B | 1.49B |
| Investing Cash Flow | -266.60M | -1.88B | 31.00M | -2.03B | -749.90M |
| Financing Cash Flow | -627.50M | -818.50M | -1.84B | 395.20M | -73.50M |
HAL Trust Technical Analysis
Neutral
144.60
Price Trends
167.02
Positive
154.50
Positive
142.85
Positive
Market Momentum
0.67
Positive
47.47
Neutral
37.74
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:HAL, the sentiment is Neutral. The current price of 144.6 is below the 20-day moving average (MA) of 171.20, below the 50-day MA of 167.02, and above the 200-day MA of 142.85, indicating a neutral trend. The MACD of 0.67 indicates Positive momentum. The RSI at 47.47 is Neutral, neither overbought nor oversold. The STOCH value of 37.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NL:HAL.
HAL Trust Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | €15.45B | 2.67 | 11.85% | 2.07% | 2.01% | 79.48% | |
67 Neutral | €11.99B | 12.85 | ― | 3.13% | 20.37% | 54.24% | |
58 Neutral | €9.94B | 10.61 | 14.36% | 5.79% | -6.64% | ― | |
57 Neutral | €23.88B | 14.95 | 9.85% | 4.36% | -12.70% | -12.34% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €12.70B | 6.94 | 6.31% | 5.32% | 16.35% | 67.44% | |
53 Neutral | €17.77B | ― | 6.47% | 5.40% | -15.54% | 10.53% |
* General Sector Average
NL:HAL
HAL Trust
171.00
63.22
58.66%
NL:ABN
ABN AMRO Group N.V.
29.01
13.10
82.28%
NL:AGN
Aegon NV
6.66
1.94
41.05%
NL:ASRNL
ASR Nederland N.V
61.30
15.49
33.80%
NL:NN
NN Group N.V.
70.54
27.91
65.49%
NL:CVC
CVC Capital Partners plc
11.40
-2.51
-18.04%
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.