HAL Trust
AEX:HAL

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HAL Trust
AEX:HAL
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Price: 170.8 EUR -0.35% Market Closed
Market Cap: €15.4B

EV/FCFF

9.6
Current
10%
More Expensive
vs 3-y average of 8.7

Enterprise Value to Free Cash Flow to Firm (EV/FCFF) ratio compares a company`s total enterprise value to the free cash flow available to all investors, both debt and equity holders. It shows how much investors are paying for each dollar of cash flow the business generates before interest payments.

EV/FCFF
9.6
=
Enterprise Value
€14.6B
/
Free Cash Flow to Firm
€1.5B

Enterprise Value to Free Cash Flow to Firm (EV/FCFF) ratio compares a company`s total enterprise value to the free cash flow available to all investors, both debt and equity holders. It shows how much investors are paying for each dollar of cash flow the business generates before interest payments.

EV/FCFF
9.6
=
Enterprise Value
€14.6B
/
Free Cash Flow to Firm
€1.5B

Valuation Scenarios

HAL Trust is trading above its 3-year average

If EV/FCFF returns to its 3-Year Average (8.7), the stock would be worth €154.83 (9% downside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-9%
Maximum Upside
+28%
Average Upside
17%
Scenario EV/FCFF Value Implied Price Upside/Downside
Current Multiple 9.6 €170.8
0%
3-Year Average 8.7 €154.83
-9%
5-Year Average 11.7 €207.42
+21%
Industry Average 12.4 €219.43
+28%
Country Average 12.4 €219.43
+28%

Forward EV/FCFF
Today’s price vs future free cash flow to firm

Not enough data available to calculate forward EV/FCFF

Peer Comparison

All Multiples
EV/FCFF
P/E
All Countries
Close
Market Cap EV/FCFF P/E
MC
HAL Trust
AEX:HAL
15.4B EUR 9.6 9.7
US
Berkshire Hathaway Inc
NYSE:BRK.A
1T USD 43.7 15.2
SE
Investor AB
STO:INVE B
1.1T SEK 64.9 7.2
ZA
Remgro Ltd
JSE:REM
107B ZAR 21.5 22.2
SE
Industrivarden AB
STO:INDU A
212.2B SEK 23.1 5.2
NL
Exor NV
AEX:EXO
13.8B EUR 5.6 -3.7
SE
L E Lundbergforetagen AB (publ)
STO:LUND B
136.5B SEK 23.9 11.1
IN
Bajaj Holdings and Investment Ltd
NSE:BAJAJHLDNG
1.1T INR -17.5 13
BE
Groep Brussel Lambert NV
XBRU:GBLB
9.6B EUR 181.5 -15.4
BE
Sofina SA
XBRU:SOF
7.8B EUR -10.5 71.9
SA
Kingdom Holding Company SJSC
SAU:4280
29.6B SAR 72.4 13.8
P/E Multiple
Earnings Growth PEG
MC
HAL Trust
AEX:HAL
Average P/E: 18.8
9.7
-7%
N/A
US
Berkshire Hathaway Inc
NYSE:BRK.A
15.2
-7%
N/A
SE
Investor AB
STO:INVE B
7.2
-31%
N/A
ZA
R
Remgro Ltd
JSE:REM
22.2
49%
0.5
SE
Industrivarden AB
STO:INDU A
5.2
N/A N/A
NL
Exor NV
AEX:EXO
Negative Multiple: -3.7 N/A N/A
SE
L E Lundbergforetagen AB (publ)
STO:LUND B
11.1
N/A N/A
IN
Bajaj Holdings and Investment Ltd
NSE:BAJAJHLDNG
13
N/A N/A
BE
Groep Brussel Lambert NV
XBRU:GBLB
Negative Multiple: -15.4 N/A N/A
BE
Sofina SA
XBRU:SOF
71.9
N/A N/A
SA
Kingdom Holding Company SJSC
SAU:4280
13.8
-14%
N/A

Market Distribution

In line with most companies in Monaco
Percentile
33rd
Based on 23 companies
33rd percentile
9.6
Low
4.3 — 7.2
Typical Range
7.2 — 45.6
High
45.6 —
Distribution Statistics
Monaco
Min 4.3
30th Percentile 7.2
Median 12.4
70th Percentile 45.6
Max 349.1

HAL Trust
Glance View

HAL Trust, a storied investment fund with roots dating back to the nineteenth century, has evolved into a giant in the realm of strategic holdings and diverse investments. Initially beginning its journey with investments in shipping, HAL Trust has transformed its portfolio over the years to encompass a broad range of sectors, including retail, real estate, media, and more. The Trust operates under a unique decentralized structure, offering it agility and flexibility. This approach enables HAL to foster growth and resilience across its various companies. Their philosophy centers around building value through long-term commitments, selecting businesses that not only promise financial returns but also align with their vision for sustainable and responsible growth. Driving its revenue model, HAL Trust employs a strategy of fostering and managing a diversified collection of interests in public and private companies. The essence of its business lies in acquiring significant stakes in well-managed businesses, both as a nurturing partner and guide. By maintaining a careful balance between buying new stakes and disposing of mature ones, HAL is able to repeatedly recycle capital, ensuring that resources are allocated to where they can be most productive. Through dividends, rental income from its real estate assets, and capital gains from its investment activities, HAL Trust generates substantial earnings. The company’s expertise in navigating various industries and markets highlights its capability to weather economic shifts while continuously creating value for its shareholders.

HAL Intrinsic Value
189.68 EUR
Undervaluation 10%
Intrinsic Value
Price €170.8
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