Hal Trust/€HAL
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10:10
13:45
17:25
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About Hal Trust
HAL Trust is an international investment company with a diversified portfolio, primarily focused on acquiring significant equity stakes in both publicly traded and private companies across various industries. Headquartered in the Netherlands, HAL Trust manages investments through subsidiaries involved in optical retail, technology, media, and other sectors. Its most notable businesses include GrandVision, a global optical retailer, and unlisted companies in fields such as audio-visual communications and healthcare. HAL Trust has a strategic focus on long-term value creation, utilizing a decentralized management model to leverage local expertise in its investments. The trust's historical roots trace back to 1873 with the founding of the Holland America Line, though its current investment orientation reflects a shift initiated in the mid-20th century toward diverse asset management.
Ticker
€HAL
Sector
Primary listing
AEX
Employees
32,474
Headquarters
Website
Hal Trust Metrics
BasicAdvanced
€12B
7.21
€19.08
0.66
€2.90
2.11%
Price and volume
Market cap
€12B
Beta
0.66
52-week high
€139.20
52-week low
€105.24
Average daily volume
7.6K
Dividend rate
€2.90
Financial strength
Current ratio
1.48
Quick ratio
1.07
Long term debt to equity
22.393
Total debt to equity
28.144
Dividend payout ratio (TTM)
15.21%
Interest coverage (TTM)
9.62%
Profitability
EBITDA (TTM)
3,487.7
Gross margin (TTM)
59.77%
Net profit margin (TTM)
12.71%
Operating margin (TTM)
18.24%
Effective tax rate (TTM)
13.36%
Revenue per employee (TTM)
€420,000
Management effectiveness
Valuation
Price to earnings (TTM)
7.212
Price to revenue (TTM)
0.917
Price to book
0.82
Price to tangible book (TTM)
1.05
Price to free cash flow (TTM)
10.521
Free cash flow yield (TTM)
9.50%
Free cash flow per share (TTM)
13.079
Dividend yield (TTM)
2.11%
Forward dividend yield
2.11%
Growth
Revenue change (TTM)
4.82%
Earnings per share change (TTM)
79.50%
3-year revenue growth (CAGR)
18.29%
10-year revenue growth (CAGR)
5.81%
3-year earnings per share growth (CAGR)
-21.36%
10-year earnings per share growth (CAGR)
9.72%
3-year dividend per share growth (CAGR)
1.97%
10-year dividend per share growth (CAGR)
-4.44%
What the Analysts think about Hal Trust
Majority rating from 3 analysts.
Bulls say / Bears say
HAL Trust posted net income of €1.21 billion for FY 2024, with NAV up €2.198 billion to €15.501 billion (€171.61 per share) as of December 31, 2024, highlighting substantial value creation across its diversified holdings.
For the half-year ended June 30, 2025, HAL Trust more than doubled net income to €1,023.8 million, up from €509.9 million a year earlier, thanks to strong performance from both public and private investments.
HAL Trust agreed to acquire VolkerWessels’ Dutch construction and infrastructure activities for an enterprise value of €1.6 billion—the business generated €1.8 billion in revenue and €218 million in EBITDA in H1 2025—stepping up exposure to high-margin sectors.
The proposed acquisition of VolkerWessels’ Netherlands operations is still awaiting approval from competition authorities and consultations with works councils, introducing execution risks and the possibility of delays before any value can be realized.
HAL Trust shares continue to trade near €138, representing a discount of almost 20% to the €171.61 NAV per share reported as of December 31, 2024, signaling ongoing valuation challenges despite NAV growth.
The order book for Boskalis, an unlisted subsidiary, fell by 11% to €6.2 billion as of June 30, 2025, down from €7.0 billion at the end of 2024, exposing HAL Trust to potential cyclical pressures in offshore and infrastructure markets.
Data summarised monthly by Lightyear AI. Last updated on 1 Nov 2025.
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.
Capital at risk
Upcoming events
No upcoming events
FAQs
What’s the current market cap for Hal Trust stock?
Hal Trust (HAL) has a market cap of €12B as of November 13, 2025.
What is the P/E ratio for Hal Trust stock?
The price to earnings (P/E) ratio for Hal Trust (HAL) stock is 7.21 as of November 13, 2025.
Does Hal Trust stock pay dividends?
Yes, the Hal Trust (HAL) stock pays dividends to shareholders. As of November 13, 2025, the dividend rate is €2.9 and the yield is 2.11%. Hal Trust has a payout ratio of 15.21% on a trailing twelve-month basis.
When is the next Hal Trust dividend payment date?
The next Hal Trust (HAL) dividend payment date is unconfirmed.
What is the beta indicator for Hal Trust?
Hal Trust (HAL) has a beta rating of 0.66. This means that it is less volatile than the market, on average. A beta of 1 would indicate the stock moves in-line with the market, while a beta of 0.5 would mean it moves half as much as the market.