HAL Trust
OTC:HALFF

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HAL Trust
OTC:HALFF
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Price: 196.5925 USD Market Closed
Market Cap: $17.8B

EV/EBITDA

5.2
Current
0%
Cheaper
vs 3-y median of 5.2

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
5.2
=
Enterprise Value
$14.6B
/
EBITDA
€2.8B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
5.2
=
Enterprise Value
$14.6B
/
EBITDA
€2.8B

Valuation Scenarios

HAL Trust is trading below its 3-year average

If EV/EBITDA returns to its 3-Year Average (5.2), the stock would be worth $196.59 (0% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+139%
Average Upside
51%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 5.2 $196.59
0%
3-Year Average 5.2 $196.59
+0%
5-Year Average 6.5 $243.61
+24%
Industry Average 7.4 $277.7
+41%
Country Average 12.5 $469.92
+139%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
$14.6B
/
Jan 2026
€2.8B
=
5.2
Current
$14.6B
/
Dec 2026
€3.2B
=
4.5
Forward
$14.6B
/
Dec 2027
€3.2B
=
4.6
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
MC
HAL Trust
OTC:HALFF
15.4B USD 5.2 9.6
US
Berkshire Hathaway Inc
NYSE:BRK.A
1T USD 15.5 15.4
SE
Investor AB
STO:INVE B
1.1T SEK 49.3 6.9
ZA
Remgro Ltd
JSE:REM
107.7B ZAR 21.9 32.6
SE
Industrivarden AB
STO:INDU A
202.5B SEK 5.8 5.7
NL
Exor NV
AEX:EXO
13.6B EUR -4.4 -3.6
SE
L E Lundbergforetagen AB (publ)
STO:LUND B
131.8B SEK 18.4 10.9
BE
Groep Brussel Lambert NV
XBRU:GBLB
9.7B EUR 13.4 -15.5
IN
Bajaj Holdings and Investment Ltd
NSE:BAJAJHLDNG
1T INR 100.4 11.4
BE
Sofina SA
XBRU:SOF
7.6B EUR 77.9 70
SA
Kingdom Holding Company SJSC
SAU:4280
29.6B SAR 31.4 17.4
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
MC
HAL Trust
OTC:HALFF
Average EV/EBITDA: 33.9
5.2
N/A N/A
US
Berkshire Hathaway Inc
NYSE:BRK.A
15.5
N/A N/A
SE
Investor AB
STO:INVE B
49.3
-14%
N/A
ZA
R
Remgro Ltd
JSE:REM
21.9
12%
1.8
SE
Industrivarden AB
STO:INDU A
5.8
N/A N/A
NL
Exor NV
AEX:EXO
Negative Multiple: -4.4 N/A N/A
SE
L E Lundbergforetagen AB (publ)
STO:LUND B
18.4
N/A N/A
BE
Groep Brussel Lambert NV
XBRU:GBLB
13.4
N/A N/A
IN
Bajaj Holdings and Investment Ltd
NSE:BAJAJHLDNG
100.4
N/A N/A
BE
Sofina SA
XBRU:SOF
77.9
N/A N/A
SA
Kingdom Holding Company SJSC
SAU:4280
31.4
N/A N/A
P/E Multiple
Earnings Growth PEG
MC
HAL Trust
OTC:HALFF
Average P/E: 20
9.6
N/A N/A
US
Berkshire Hathaway Inc
NYSE:BRK.A
15.4
-9%
N/A
SE
Investor AB
STO:INVE B
6.9
-47%
N/A
ZA
R
Remgro Ltd
JSE:REM
32.6
48%
0.7
SE
Industrivarden AB
STO:INDU A
5.7
N/A N/A
NL
Exor NV
AEX:EXO
Negative Multiple: -3.6 N/A N/A
SE
L E Lundbergforetagen AB (publ)
STO:LUND B
10.9
N/A N/A
BE
Groep Brussel Lambert NV
XBRU:GBLB
Negative Multiple: -15.5 N/A N/A
IN
Bajaj Holdings and Investment Ltd
NSE:BAJAJHLDNG
11.4
N/A N/A
BE
Sofina SA
XBRU:SOF
70
N/A N/A
SA
Kingdom Holding Company SJSC
SAU:4280
17.4
4%
4.4

Market Distribution

Lower than 76% of companies in Monaco
Percentile
24th
Based on 25 companies
24th percentile
6.6
Low
4 — 7.1
Typical Range
7.1 — 13.5
High
13.5 —
Distribution Statistics
Monaco
Min 4
30th Percentile 7.1
Median 12.5
70th Percentile 13.5
Max 110.5

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.

HALFF Intrinsic Value
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