Stocktoria

Halma plc HLMA.L

GB · London Stock Exchange · XLON · stock · Industrials · website

Halma plc statistics & valuation

Market cap£14.1B
P / E38.0×
P / S5.5×
P / B6.5×
P / FCF34.5×
Dividend yield0.63%
Net margin14.4%
Return on equity17.2%
FCF margin15.9%
Net debt£770.0M
Enterprise value USD$20.1B
Earnings yield EBIT/EV3.5%
Return on capital16.5%
Graham number -99.7%£11.26

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (£11.26); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
12.70% 13.20% 13.20% 14.40% 2023202420252026
Gross margin (%)
49.80% 49.30% 50.40% 49.80% 2023202420252026
Operating margin (%)
16.60% 18.10% 18.20% 20.40% 2023202420252026
Return on equity (%)
14.70% 15.50% 15.60% 17.20% 2023202420252026
Shares outstanding
377.7M 377.7M 377.7M 377.7M 2023202420252026
Net debt (£)
£596.7M £653.2M £535.8M £770.0M 2023202420252026
Share buybacks (£)
£22.3M £21.1M £7.9M 2023202420252026
Return on assets (%)
8.40% 9.00% 9.10% 10.00% 2023202420252026
Free cash flow margin (%)
11.40% 16.40% 19.30% 15.90% 2023202420252026
Debt / equity (×)
0.48× 0.46× 0.45× 0.42× 2023202420252026
EPS (£)
£0.62 £0.71 £0.78 £0.98 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Halma plc trades at about 3813.8× earnings — near its 10-year norm (10-year range 3110.2×–4489.2×, median 3731×).

3110.2× 4489.2×

Shaded band = 10-year range (3110.2×–4489.2×); dot = today's 3813.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin49.8%50.4%49.3%49.8%
Operating margin20.4%18.2%18.1%16.6%
Net margin14.4%13.2%13.2%12.7%
FCF margin15.9%19.3%16.4%11.4%
Return on assets10.0%9.1%9.0%8.4%
Return on equity17.2%15.6%15.5%14.7%
Debt / equity0.35×0.37×0.41×0.42×
Current ratio2.142.442.452.62

Computed from company filings · GB · as of 2026-03-31. Figures in GBP. Facts plus Stocktoria's own computed scores — not investment advice.