Halma Past Earnings Performance
Past criteria checks 5/6
Halma has been growing earnings at an average annual rate of 9.3%, while the Electronic industry saw earnings growing at 5.8% annually. Revenues have been growing at an average rate of 12.9% per year. Halma's return on equity is 17.5%, and it has net margins of 14.4%.
Key information
9.27%
Earnings growth rate
9.38%
EPS growth rate
| Electronic Industry Growth | 5.51% |
| Revenue growth rate | 12.87% |
| Return on equity | 17.46% |
| Net Margin | 14.39% |
| Next Earnings Update | 11 Jun 2026 |
Recent past performance updates
Recent updates
Narrative Update • Apr 25
HLMA: Higher Assumptions And Neutral Stance Will Support Premium Future P/E
Halma's analyst price target has been adjusted from £40.00 to £41.50. Analysts link this shift to updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E.Narrative Update • Apr 09
HLMA: Slightly Higher Assumptions And Neutral Views Will Support Premium P/E
Narrative update on Halma The updated analyst price target for Halma now reflects the recent Street moves to £4,150 per share. Analysts point to slightly adjusted assumptions for discount rate, revenue growth, profit margin and future P/E as the key drivers behind this change.Analysis Article • Apr 04
We Ran A Stock Scan For Earnings Growth And Halma (LON:HLMA) Passed With Ease
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...Narrative Update • Mar 26
HLMA: Slightly Higher Revenue Assumptions Will Support Premium Future P/E
Halma's analyst price target has shifted higher to £4,150 from £4,000, as analysts point to updated assumptions for slightly stronger revenue growth and valuation multiples, along with modestly adjusted profit margin expectations. Analyst Commentary Recent research presents a mixed but generally balanced view on Halma, with price targets adjusted to reflect updated assumptions on revenue growth, valuation multiples, and profit margins.Narrative Update • Mar 11
HLMA: Stable Assumptions And Lower Risk Will Support Premium Future P/E
Analysts have increased their price target on Halma by £4.50, citing updated assumptions on discount rates, profit margins and future P/E levels. Analyst Commentary Bullish Takeaways Bullish analysts link the £4.50 price target uplift to revised discount rate assumptions, suggesting they see Halma's cash flows as less risky than before, which supports a higher valuation multiple.Narrative Update • Feb 24
HLMA: Steady Earnings Assumptions Will Likely Sustain Premium Future P/E
Analysts have nudged their price target for Halma higher to £38.69 from £38.38, citing modest adjustments to revenue growth, profit margin and future P/E assumptions following recent research updates, including the latest increase from Berenberg. Analyst Commentary Bullish Takeaways Bullish analysts supporting the higher £38.69 target point to incremental tweaks in revenue and margin assumptions as enough to justify a slightly richer valuation without changing the core thesis on Halma.Analysis Article • Feb 10
Halma (LON:HLMA) Has Some Way To Go To Become A Multi-Bagger
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Typically, we'll want...Narrative Update • Feb 07
HLMA: Modest Fair Value Shift Will Likely Support High P/E Expectations
Analysts have slightly increased their price targets on Halma, raising the revised fair value estimate to £38.38 per share from £38.05, reflecting modest adjustments to assumptions on revenue growth, profit margins and future P/E multiples. Analyst Commentary Recent research updates on Halma point to a slightly higher fair value estimate per share at £38.38, alongside an increased price target of 450 GBp in one of the latest notes.Narrative Update • Jan 22
HLMA: Higher Fair Value Assumptions Will Likely Support Premium P/E Multiple
Halma's analyst price target has been lifted by £0.72 to £38.05, with analysts pointing to updated assumptions around fair value, revenue growth, profit margins and future P/E levels as key drivers behind the change. Analyst Commentary Bullish Takeaways Bullish analysts see the higher £38.05 target as better reflecting their updated fair value work, which now builds in revised assumptions around revenue, margins and the P/E they are prepared to apply.Analysis Article • Jan 11
What Does Halma plc's (LON:HLMA) Share Price Indicate?
Today we're going to take a look at the well-established Halma plc ( LON:HLMA ). The company's stock saw a decent share...Narrative Update • Jan 07
HLMA: Slightly Higher Fair Value Will Likely Support Premium Multiple
Analysts have nudged their price target for Halma slightly higher to £37.33 from £37.11, citing updated assumptions around modestly stronger revenue growth, slightly higher profit margins and a marginally lower future P/E multiple. Valuation Changes Fair Value: Revised slightly higher from £37.11 to £37.33 per share.Narrative Update • Dec 15
HLMA: Raised Price Views Will Likely Sustain Premium Multiple Amid Mixed Sentiment
The analyst price target for Halma has been nudged higher, with our updated fair value estimate rising from about £36.67 to £37.11 per share. Analysts highlight a richer future earnings multiple supported by a series of upward target revisions across the Street, despite slightly softer long term growth and margin assumptions.Analysis Article • Dec 15
Is Halma (LON:HLMA) A Risky Investment?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Dec 01
Does Halma (LON:HLMA) Deserve A Spot On Your Watchlist?
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Narrative Update • Dec 01
HLMA: Upgraded Profit Margins Will Likely Sustain Fair Value Amid Cautious Optimism
Halma’s analyst price target has increased by nearly £2.38 to reflect upgraded forecasts for revenue growth and profit margins. Analysts cite recent positive research updates supporting the company’s outlook.Analysis Article • Nov 18
Halma plc's (LON:HLMA) Business Is Yet to Catch Up With Its Share Price
When close to half the companies in the United Kingdom have price-to-earnings ratios (or "P/E's") below 16x, you may...Narrative Update • Nov 17
HLMA: Margins and Execution Will Support Steady Performance Amid Valuation Caution
Halma's analyst price target has risen modestly, up by approximately £0.09 to £34.30. Analysts highlight improved profit margins and moderate adjustments to growth forecasts.Analysis Article • Nov 05
Returns At Halma (LON:HLMA) Appear To Be Weighed Down
What are the early trends we should look for to identify a stock that could multiply in value over the long term? One...Narrative Update • Nov 01
HLMA: Upward Pricing Revisions Will Underpin Confidence Despite Valuation Concerns
Halma's analyst price target has increased significantly. Analysts cite improved confidence in the company's high-growth prospects and sustainable margins, as reflected by recent upward revisions to targets such as £3,690 and £3,770 per share.Narrative Update • Oct 18
Strong Cash Generation Will Enable Future Investments In Niche Safety And Environmental Technologies
Halma’s analyst price target has increased by approximately £0.24 to £34.20. Analysts cite ongoing revenue growth and recently raised price targets from multiple firms to support the positive outlook.Narrative Update • Oct 04
Strong Cash Generation Will Enable Future Investments In Niche Safety And Environmental Technologies
Halma's analyst price target has increased from £32.74 to £33.97 per share, as analysts cite improved revenue growth expectations and confidence in the company's high-return business model. Analyst Commentary Recent street research reflects a mix of optimism and caution among analysts.Narrative Update • Sep 19
Strong Cash Generation Will Enable Future Investments In Niche Safety And Environmental Technologies
Analysts have modestly raised Halma’s price target to £32.74, reflecting confidence in its resilient, high-growth business model and acquisition strategy, though some remain cautious on valuation. Analyst Commentary Bullish analysts cite Halma's high-growth, high-returns business model as sustainable, supporting higher valuation multiples.Narrative Update • Sep 04
Strong Cash Generation Will Enable Future Investments In Niche Safety And Environmental Technologies
Analysts reaffirm their positive outlook on Halma, citing its strong market position, resilient profitability, and improving growth prospects, with the consensus price target unchanged at £32.39. Analyst Commentary Recognition of Halma’s sustainable high-growth, high-returns business model.Analysis Article • Aug 24
These 4 Measures Indicate That Halma (LON:HLMA) Is Using Debt Safely
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Aug 10
Here's Why Halma (LON:HLMA) Has Caught The Eye Of Investors
LSE:HLMA 1 Year Share Price vs Fair Value Explore Halma's Fair Values from the Community and select yours For...Analysis Article • Jul 27
Halma (LON:HLMA) Hasn't Managed To Accelerate Its Returns
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Ideally, a business will...Analysis Article • Jul 13
Halma plc's (LON:HLMA) Business Is Trailing The Market But Its Shares Aren't
Halma plc's ( LON:HLMA ) price-to-earnings (or "P/E") ratio of 41x might make it look like a strong sell right now...
New Narrative • Nov 24
Calculated Acquisitions And Robust R&D Drive Long-Term Growth Amid Market Challenges
Strong cash generation and balance sheet support significant R&D and acquisition investments, ensuring sustainable growth and increased future revenues and earnings.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Halma makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 30 Sep 25 | 2,411 | 347 | 715 | 0 |
| 30 Jun 25 | 2,330 | 322 | 712 | 0 |
| 31 Mar 25 | 2,248 | 296 | 709 | 0 |
| 31 Dec 24 | 2,203 | 291 | 670 | 0 |
| 30 Sep 24 | 2,158 | 287 | 632 | 0 |
| 30 Jun 24 | 2,096 | 278 | 633 | 0 |
| 31 Mar 24 | 2,034 | 269 | 634 | 0 |
| 31 Dec 23 | 1,981 | 253 | 615 | 0 |
| 30 Sep 23 | 1,928 | 238 | 596 | 0 |
| 30 Jun 23 | 1,890 | 236 | 596 | 0 |
| 31 Mar 23 | 1,853 | 235 | 596 | 0 |
| 31 Dec 22 | 1,758 | 229 | 544 | 0 |
| 30 Sep 22 | 1,664 | 224 | 491 | 0 |
| 30 Jun 22 | 1,594 | 234 | 488 | 0 |
| 31 Mar 22 | 1,525 | 244 | 485 | 0 |
| 31 Dec 21 | 1,481 | 253 | 447 | 0 |
| 30 Sep 21 | 1,437 | 262 | 410 | 0 |
| 30 Jun 21 | 1,378 | 233 | 410 | 0 |
| 31 Mar 21 | 1,318 | 203 | 410 | 0 |
| 31 Dec 20 | 1,311 | 190 | 418 | 0 |
| 30 Sep 20 | 1,303 | 177 | 427 | 0 |
| 30 Jun 20 | 1,321 | 181 | 428 | 0 |
| 31 Mar 20 | 1,338 | 184 | 430 | 0 |
| 31 Dec 19 | 1,309 | 182 | 406 | 0 |
| 30 Sep 19 | 1,279 | 180 | 383 | 0 |
| 30 Jun 19 | 1,245 | 175 | 383 | 0 |
| 31 Mar 19 | 1,211 | 170 | 383 | 0 |
| 31 Dec 18 | 1,183 | 168 | 382 | 0 |
| 30 Sep 18 | 1,155 | 167 | 382 | 0 |
| 30 Jun 18 | 1,116 | 161 | 382 | 0 |
| 31 Mar 18 | 1,076 | 154 | 383 | 0 |
| 31 Dec 17 | 1,051 | 147 | 360 | 0 |
| 30 Sep 17 | 1,026 | 139 | 338 | 0 |
| 30 Jun 17 | 994 | 134 | 340 | 0 |
| 01 Apr 17 | 962 | 130 | 343 | 0 |
| 01 Jan 17 | 916 | 120 | 312 | 0 |
| 01 Oct 16 | 870 | 111 | 281 | 0 |
| 01 Jul 16 | 839 | 110 | 278 | 0 |
| 02 Apr 16 | 808 | 109 | 275 | 0 |
| 02 Jan 16 | 786 | 108 | 260 | 0 |
| 03 Oct 15 | 765 | 107 | 244 | 0 |
| 03 Jul 15 | 746 | 105 | 245 | 0 |
Quality Earnings: HLMA has high quality earnings.
Growing Profit Margin: HLMA's current net profit margins (14.4%) are higher than last year (13.3%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: HLMA's earnings have grown by 9.3% per year over the past 5 years.
Accelerating Growth: HLMA's earnings growth over the past year (21.1%) exceeds its 5-year average (9.3% per year).
Earnings vs Industry: HLMA earnings growth over the past year (21.1%) exceeded the Electronic industry 9.2%.
Return on Equity
High ROE: HLMA's Return on Equity (17.5%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/08 09:07 |
| End of Day Share Price | 2026/05/08 00:00 |
| Earnings | 2025/09/30 |
| Annual Earnings | 2025/03/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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.
Analysis Model and Snowflake
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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 Github.
Analyst Sources
Halma plc is covered by 31 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Richard Paige | Barclays |
| Jonathan Hurn | Barclays |
| Andrew Simms | Berenberg |