Assessing HAL Trust (ENXTAM:HAL) Valuation After Strong Full Year 2025 Earnings Results

HAL Trust (ENXTAM:HAL) released full year 2025 results, reporting sales of €12,488.4m, revenue of €13,400.6m and net income of €1,596.9m, while earnings per share from continuing operations reached €17.68.

See our latest analysis for HAL Trust.

The earnings release appears to have supported sentiment, with the share price up 19.31% over the last 90 days and a 57.10% total shareholder return over the past year, suggesting that momentum has been building.

If HAL Trust’s move has you reassessing your options, this could be a good moment to widen your search and check out 95 top founder-led companies

With earnings per share at €17.68 and the share price at €173.00, HAL Trust’s recent run raises a key question: is the strong performance still mispriced, or is the market already banking on future growth?

Price-to-Earnings of 9.8x: Is it justified?

On a P/E of 9.8x at a share price of €173.00, HAL Trust screens as undervalued compared to both peers and an internal fair value benchmark, even after a strong share price run.

The P/E ratio compares what investors are paying today for each euro of earnings. For a diversified financial company like HAL Trust, it gives a quick read on how the market is pricing its current profitability against other options in the sector.

HAL Trust is described as trading at good value compared to peers and the wider industry, with its 9.8x P/E below the European diversified financial industry average of 10.9x and well below the peer average of 16.2x. It also sits under an estimated fair P/E of 10.4x, which indicates that the multiple could reasonably be higher if the market moved closer to that fair ratio level.

Explore the SWS fair ratio for HAL Trust

Result: Price-to-Earnings of 9.8x (UNDERVALUED)

However, there are clear risks, including annual net income growth of 10% and HAL Trust’s complex mix of sectors and geographies, which can make future earnings harder to assess.

Find out about the key risks to this HAL Trust narrative.

Another View: What Does Cash Flow Say?

The P/E suggests HAL Trust looks inexpensive, but our DCF model points to an even larger gap. With the share price at €173 and an estimated future cash flow value of €245.30, the stock screens as undervalued on cash flows as well. So which signal should you pay more attention to?

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out HAL Trust for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 231 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

Next Steps

Mixed signals or a clear message for you as a shareholder? With both risks and rewards in play, now is a good time to look through the numbers yourself and pressure test the story before the next move, starting with 3 key rewards and 1 important warning sign

Looking for more investment ideas?

If HAL Trust is already on your radar, do not stop there. Broaden your watchlist with a few focused stock ideas that could sharpen your portfolio thinking.

• Target potential value by scanning companies that combine quality fundamentals with attractive pricing using the 231 high quality undervalued stocks.
• Strengthen income prospects by reviewing businesses offering solid yields and payout histories via the 480 dividend fortresses.
• Reduce portfolio stress by checking companies that score well on resilience and financial risk using the 298 resilient stocks with low risk scores.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com