Haleon plc

BATS-CHIXE:HLNL Stock Report

Market Cap: UK£34.8b

Haleon Valuation

Is HLNL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HLNL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HLNL (£3.84) is trading below our estimate of fair value (£3.87)

Significantly Below Fair Value: HLNL is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HLNL?

Key metric: As HLNL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for HLNL. This is calculated by dividing HLNL's market cap by their current earnings.
What is HLNL's PE Ratio?
PE Ratio28.8x
EarningsUK£1.21b
Market CapUK£34.76b

Price to Earnings Ratio vs Peers

How does HLNL's PE Ratio compare to its peers?

The above table shows the PE ratio for HLNL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23.4x
ULVR Unilever
20.7x5.7%UK£114.1b
RKT Reckitt Benckiser Group
21.5x10.6%UK£33.2b
APN Applied Nutrition
26.2xn/aUK£361.0m
W7L Warpaint London
25x13.5%UK£437.3m
HLNL Haleon
28.8x10.6%UK£34.8b

Price-To-Earnings vs Peers: HLNL is expensive based on its Price-To-Earnings Ratio (28.8x) compared to the peer average (23.6x).

Price to Earnings Ratio vs Industry

How does HLNL's PE Ratio compare vs other companies in the European Personal Products Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
No. of Companies5PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HLNL is expensive based on its Price-To-Earnings Ratio (28.8x) compared to the European Personal Products industry average (24.2x).

Price to Earnings Ratio vs Fair Ratio

What is HLNL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HLNL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio28.8x
Fair PE Ratio25.9x

Price-To-Earnings vs Fair Ratio: HLNL is expensive based on its Price-To-Earnings Ratio (28.8x) compared to the estimated Fair Price-To-Earnings Ratio (25.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HLNL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£3.84
UK£3.97
+3.4%
10.0%UK£4.56UK£3.10n/a17
Dec ’25UK£3.74
UK£3.95
+5.5%
9.9%UK£4.56UK£3.10n/a17
Nov ’25UK£3.72
UK£3.93
+5.8%
10.1%UK£4.54UK£3.00n/a17
Oct ’25UK£3.95
UK£3.88
-1.9%
10.8%UK£4.50UK£3.00n/a16
Sep ’25UK£3.81
UK£3.79
-0.5%
9.3%UK£4.47UK£3.00n/a17
Aug ’25UK£3.58
UK£3.71
+3.5%
8.2%UK£4.10UK£3.00n/a17
Jul ’25UK£3.25
UK£3.65
+12.3%
8.5%UK£4.10UK£2.90n/a17
Jun ’25UK£3.25
UK£3.62
+11.5%
8.3%UK£4.10UK£2.90n/a16
May ’25UK£3.31
UK£3.61
+9.1%
8.0%UK£4.10UK£2.90n/a16
Apr ’25UK£3.33
UK£3.59
+8.0%
8.7%UK£4.10UK£2.90n/a15
Mar ’25UK£3.29
UK£3.62
+10.1%
8.8%UK£4.10UK£2.90n/a15
Feb ’25UK£3.25
UK£3.61
+11.3%
9.0%UK£4.10UK£2.90n/a15
Jan ’25UK£3.22
UK£3.60
+11.9%
9.3%UK£4.20UK£2.95n/a16
Dec ’24UK£3.32
UK£3.59
+8.1%
9.2%UK£4.20UK£2.95UK£3.7416
Nov ’24UK£3.30
UK£3.55
+7.6%
9.7%UK£4.30UK£2.80UK£3.7216
Oct ’24UK£3.41
UK£3.53
+3.6%
9.5%UK£4.10UK£2.80UK£3.9516
Sep ’24UK£3.20
UK£3.57
+11.5%
9.1%UK£4.10UK£2.80UK£3.8117
Aug ’24UK£3.31
UK£3.57
+7.9%
9.5%UK£4.10UK£2.80UK£3.5816
Jul ’24UK£3.22
UK£3.60
+11.7%
9.7%UK£4.10UK£2.80UK£3.2516
Jun ’24UK£3.22
UK£3.60
+11.9%
9.7%UK£4.10UK£2.80UK£3.2516
May ’24UK£3.51
UK£3.55
+1.3%
11.2%UK£4.10UK£2.50UK£3.3116
Apr ’24UK£3.23
UK£3.42
+6.0%
11.3%UK£4.00UK£2.50UK£3.3315
Mar ’24UK£3.26
UK£3.47
+6.3%
11.0%UK£4.00UK£2.50UK£3.2915
Feb ’24UK£3.19
UK£3.48
+9.1%
11.1%UK£4.00UK£2.50UK£3.2514
Jan ’24UK£3.29
UK£3.32
+0.8%
14.0%UK£4.10UK£2.50UK£3.2214
Dec ’23UK£2.92
UK£3.26
+11.6%
13.9%UK£4.10UK£2.50UK£3.3214

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 16:45
End of Day Share Price 2024/12/18 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Haleon plc is covered by 25 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Iain SimpsonBarclays
Warren AckermanBarclays
Bethan DaviesBerenberg