Halma (HLMA)

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Capital at risk

Company name:	Halma Plc
Company Description:	World leader in electronic fire & gas detectors, elevator safety, process safety and precision optical products. Specialist water technologies including electronic instruments for measuring water quality, locating leaking pipes and water treatment systems based on ultraviolet light. Major international supplier of high power industrial resistors
EPIC:	HLMA	Trading Currency:	GBX
Market Sector:	FS10	ISIN:	GB0004052071
Market Segment:	SET1	Share Type:	DE
WWW Address:	http://www.halmaholdings.com/	Description:	ORD 10P
Industry Sector:	ELECTRONIC & ELECTRICAL EQUIPMENT

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
2,298.00	23.0 [1.01]	2,301.00	2,302.00	2,276.00	2,319.00	2,267.00	455,006
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
8,713.63	379.18	-0.16	64.54	18.88	35.61	0.82	3,270.00 - 1,855.50

Halma Key Figures

(at previous day's close)
Market Cap.	8,713.63	m
Shares In Issue	379.18	m
Prev. Close	2,275.00
PE Ratio	35.61
Dividend Yield	0.82	%
EPS - basic	64.54	p
Dividend PS	18.88	p
Dividend Cover	3.42
Cash Flow PS	62.61	p
Return On Equity (ROE)	17.42	%
Operating Margin	19.96	%
PEG Factor	1.75
EPS Growth Rate	20.39	%
Dividends PS Growth Rate	6.97	%
Net Debt	636.50	m
Gross Gearing	36.14	%
Quick Assets	500.30	m
Net Working Capital	365.20	m
Intangibles / Fixed Assets	84.06	%
Turnover PS	402.26	p
Pre-Tax Profit PS	80.28	p
Retained Profit PS	46.34	p
Cash PS	41.51	p
Net Cash PS	-54.46	p
Net Tangible Asset Value PS *	44.52	p
Net Asset Value PS	370.03	p
Spread	1.00 (0.04%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Halma Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	2,325.00	2,185.00
4 weeks	2,343.00	2,075.00
12 weeks	2,343.00	1,855.50
1 year	3,270.00	1,855.50

Share Price Chart (5 years)

Halma Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	2,251.00	47.00	2.09	2,185.00	0.76		2,270.27
4 weeks	2,118.00	180.00	8.50	2,075.00	0.83		2,233.94
12 weeks	2,180.00	118.00	5.41	1,855.50	0.96		2,127.57
26 weeks	2,338.00	-40.00	-1.71	1,855.50	0.83		2,237.27
1 year	2,947.00	-649.00	-22.02	1,855.50	0.72		2,506.11
3 years	1,964.00	334.00	17.01	1,660.00	0.79		2,303.61
5 years	1,104.00	1,194.00	108.15	1,064.00	0.94		1,895.90
† periods calculated are whole weeks rather than calendar months

Halma Key Management Ratios

Halma Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	70.13
PE Ratio	35.61
Tobin's Q Ratio	4.28
Tobin's Q Ratio (excl. intangibles)	10.00
Dividend Yield	0.82	%
Market-to-Book Ratio	6.21
Price-to-Pre-Tax Profit PS	28.63
Price-to-Retained Profit PS	49.59
Price-to-Cash Flow PS	36.70
Price-to-Sales PS	5.71
Price-to-Net Tangible Asset Value PS	51.50
Price-to-Cash PS	55.36
Net Working Capital PS	96.31
Price Pct to Working Capital PS	23.86	%
Earnings Yield	2.81	%
Average PE	37.45
Years in average	5
PE to PE average	95.06	%

Halma Financial Ratios

(Leverage Ratios)
Debt Ratio	23.46	%
Debt-to-Equity Ratio	0.31
Debt-to-Equity Ratio (excl. Intgbl)	2.54
Debt-to-Equity Market Value	0.05
Net Gearing	28.97	%
Net Gearing (excl. Intangibles)	66.09	%
Gross Gearing	36.14	%
Gross Gearing (excl. Intangibles)	82.43	%
Gearing Under 1 Year	16.56	%
Gearing Under 1 Year (excl. Intgbl)	37.78	%
Assets/Equity	1.57
Cash/Equity	11.22
(Liquidity Ratios)
Net Working Capital to Total Assets	16.62	%
Current Ratio	2.00
Quick Ratio (Acid Test)	1.37
Liquidity Ratio	0.43
Cash & Equiv/Current Assets	21.59	%
(Solvency Ratios)
Enterprise Value	8,986.63	m
CFO/Sales	0.16
CFO/Attributable Profit	0.97
CFO/Assets	0.11
CFO/Debt	0.30
Total Debt/Equity Market Value	0.09
Total Debt/Sales	0.52
Total Debt/Pre-Tax Profit	2.61
Total Debt	793.90	m
Total Debt/Net Current Assets	2.17	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	9.87	%
5 yr Compound Earnings Growth	9.67	%
10 yr Compound Earnings Growth	9.85	%
Earn drops > 5% in 10yrs	5

Beta (60-Mnth)	Beta (36-Mnth)
-0.1605	0.3743

Halma Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	16.61	%
Return On Assets (ROA)	12.00	%
Net Profit Margin	16.02	%
Assets Turnover	0.75
Return On Equity (ROE)	17.42	%
Return On Investment (ROI)	14.11	%
Dividend Payout Ratio	29.25	%
Plowback Ratio	70.75	%
Growth from Plowback Ratio	13.46	%
Net Income Of Revenues	11.52	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	1.19
Fixed Assets Turnover	1.11
Current Assets Turnover	2.32
Net Working Capital Turnover
Inventory Turnover	7.69
(Other Operating Ratios)
Total Assets-to-Sales	1.34
Debtors-to-Sales	20.61	%
Debt Collection Period	75.21	Days

Halma Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
16 Jun 2022	Final	GBX	11.53	31/03/2021	31/03/2022	14/07/2022	15/07/2022	18/08/2022	18.88
18 Nov 2021	Interim	GBX	7.35	30/03/2021	30/09/2021	23/12/2021	24/12/2021	04/02/2022	-
10 Jun 2021	Final	GBX	10.78	31/03/2020	31/03/2021	08/07/2021	09/07/2021	12/08/2021	17.65
19 Nov 2020	Interim	GBX	6.87	30/03/2020	30/09/2020	24/12/2020	29/12/2020	05/02/2021	-
14 Jul 2020	Final	GBX	9.96	31/03/2019	31/03/2020	27/08/2020	28/08/2020	01/10/2020	16.50
19 Nov 2019	Interim	GBX	6.54	30/03/2019	30/09/2019	24/12/2019	27/12/2019	05/02/2020	-
11 Jun 2019	Final	GBX	9.60	31/03/2018	31/03/2019	11/07/2019	12/07/2019	14/08/2019	15.71
20 Nov 2018	Interim	GBX	6.11	30/03/2018	30/09/2018	27/12/2018	28/12/2018	06/02/2019	-
12 Jun 2018	Final	GBX	8.97	31/03/2017	31/03/2018	12/07/2018	13/07/2018	15/08/2018	14.68
21 Nov 2017	Interim	GBX	5.71	30/03/2017	30/09/2017	28/12/2017	29/12/2017	07/02/2018	-
13 Jun 2017	Final	GBX	8.38	01/04/2016	01/04/2017	13/07/2017	14/07/2017	16/08/2017	13.71
22 Nov 2016	Interim	GBX	5.33	01/04/2016	01/10/2016	29/12/2016	30/12/2016	08/02/2017	-
14 Jun 2016	Final	GBX	7.83	02/04/2015	02/04/2016	14/07/2016	15/07/2016	17/08/2016	12.81
17 Nov 2015	Interim	GBX	4.98	03/04/2015	03/10/2015	31/12/2015	04/01/2016	10/02/2016	-
11 Jun 2015	Final	GBX	7.31	28/03/2014	28/03/2015	16/07/2015	17/07/2015	19/08/2015	11.96
21 Nov 2014	Interim	GBX	4.65	27/03/2014	27/09/2014	29/12/2014	30/12/2014	04/02/2015	-
12 Jun 2014	Final	GBX	6.82	29/03/2013	29/03/2014	16/07/2014	18/07/2014	20/08/2014	11.17
19 Nov 2013	Interim	GBX	4.35	28/03/2013	28/09/2013	31/12/2013	03/01/2014	05/02/2014	-
13 Jun 2013	Final	GBX	6.37	30/03/2012	30/03/2013	17/07/2013	19/07/2013	21/08/2013	10.43
20 Nov 2012	Interim	GBX	4.06	29/03/2012	29/09/2012	02/01/2013	04/01/2013	06/02/2013	-
24 Jul 2012	Final	GBX	5.95	31/03/2011	31/03/2012	18/07/2012	20/07/2012	22/08/2012	9.74
22 Nov 2011	Interim	GBX	3.79	01/04/2011	01/10/2011	04/01/2012	06/01/2012	08/02/2012	-
21 Jun 2011	Final	GBX	5.56	02/04/2010	02/04/2011	20/07/2011	22/07/2011	24/08/2011	9.10
30 Nov 2010	Interim	GBX	3.54	02/04/2010	02/10/2010	05/01/2011	07/01/2011	09/02/2011	-
22 Jun 2010	Final	GBX	5.19	03/04/2009	03/04/2010	21/07/2010	23/07/2010	25/08/2010	8.50
03 Dec 2009	Interim	GBX	3.31	03/04/2009	03/10/2009	06/01/2010	08/01/2010	10/02/2010	-
07 Jul 2009	Final	GBX	4.78	28/03/2008	28/03/2009	15/07/2009	17/07/2009	19/08/2009	7.93
27 Nov 2008	Interim	GBX	3.15	30/03/2008	30/09/2008	03/01/2009	05/01/2009	04/02/2009	-
17 Jun 2008	Final	GBX	4.55	29/03/2007	29/03/2008	16/07/2008	18/07/2008	20/08/2008	7.55
27 Nov 2007	Interim	GBX	3.00	29/03/2007	29/09/2007	02/01/2008	04/01/2008	06/02/2008	-
15 Jun 2007	Final	GBX	4.33	31/03/2006	31/03/2007	18/07/2007	20/07/2007	22/08/2007	7.18
04 Dec 2006	Interim	GBX	2.85	30/03/2006	30/09/2006	03/01/2007	05/01/2007	07/02/2007	-
20 Jun 2006	Final	GBX	4.12	01/04/2005	01/04/2006	19/07/2006	21/07/2006	23/08/2006	6.83
06 Dec 2005	Interim	GBX	2.71	01/04/2005	01/10/2005	04/01/2006	06/01/2006	08/02/2006	-
21 Jun 2005	Final	GBX	3.92	02/04/2004	02/04/2005	20/07/2005	22/07/2005	24/08/2005	6.50
07 Dec 2004	Interim	GBX	2.58	02/04/2004	02/10/2004	05/01/2005	07/01/2005	08/02/2005	-
22 Jun 2004	Final	GBX	3.75	03/04/2003	03/04/2004	21/07/2004	23/07/2004	23/08/2004	6.19
09 Dec 2003	Interim	GBX	2.44	04/04/2003	04/10/2003	07/01/2004	09/01/2004	09/02/2004	-
16 Jun 2003	Final	GBX	3.53	29/03/2002	29/03/2003	16/07/2003	18/07/2003	18/08/2003	5.81
03 Dec 2002	Interim	GBX	2.29	28/03/2002	28/09/2002	04/01/2003	06/01/2003	03/02/2003	-
18 Jun 2002	Final	GBX	3.21	30/03/2001	30/03/2002	17/07/2002	19/07/2002	19/08/2002	5.28
04 Dec 2001	Interim	GBX	2.08	29/03/2001	29/09/2001	02/01/2002	04/01/2002	04/02/2002	-
19 Jun 2001	Final	GBX	2.79	31/03/2000	31/03/2001	18/07/2001	20/07/2001	20/08/2001	4.59
05 Dec 2000	Interim	GBX	1.81	30/03/2000	30/09/2000	27/12/2000	03/01/2001	05/02/2001	-
20 Jun 2000	Final	GBX	2.42	01/04/1999	01/04/2000	17/07/2000	21/07/2000	21/08/2000	3.99
22 Jun 1999	Final	GBX	2.02	03/04/1998	03/04/1999	19/07/1999	23/07/1999	23/08/1999	3.33
15 Dec 1998	Interim	GBX	1.31	03/10/1997	03/10/1998	11/01/1999	15/01/1999	15/02/1999	-
23 Jun 1998	Final	GBX	1.68	28/03/1997	28/03/1998	13/07/1998	17/07/1998	17/08/1998	2.77

Halma Fundamentals

	31 Mar 2019 (GBP)		31 Mar 2020 (GBP)		31 Mar 2021 (GBP)		31 Mar 2022 (GBP)
turnover	1,210.90	100.00%	1,338.40	100.00%	1,318.20	100.00%	1,525.30	100.00%	m
pre tax profit	206.70	17.07%	224.10	16.74%	252.90	19.19%	304.40	19.96%	m
attributable profit	169.80	14.02%	184.40	13.78%	203.40	15.43%	244.40	16.02%	m
retained profit	112.60	9.30%	123.20	9.21%	139.70	10.60%	175.70	11.52%	m
eps - basic (p)	44.78		48.66		53.61		64.54
eps - diluted (p)	44.78		48.66		53.61		64.42
dividends per share	15.71		16.50		17.65		18.88

Halma Balance Sheet

	31 Mar 2019 (GBP)		31 Mar 2020 (GBP)		31 Mar 2021 (GBP)		31 Mar 2022 (GBP)


	31 Mar 2019 (GBP)		31 Mar 2020 (GBP)		31 Mar 2021 (GBP)		31 Mar 2022 (GBP)
ASSETS
fixed assets	112.40	7.10%	184.30	9.51%	180.80	9.63%	194.00	8.83%	m
intangibles	939.20	59.30%	1,166.80	60.21%	1,098.50	58.50%	1,233.90	56.16%	m
fixed investments	4.80	0.30%	11.20	0.58%	11.00	0.59%	40.00	1.82%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	144.30	9.11%	170.60	8.80%	167.80	8.94%	228.80	10.41%	m
debtors	301.90	19.06%	298.60	15.41%	285.70	15.21%	342.90	15.61%	m
cash & securities	81.20	5.13%	106.30	5.49%	134.10	7.14%	157.40	7.16%	m

TOTAL	1,583.80	100%	1,937.80	100%	1,877.90	100%	2,197.00	100%	m

LIABILITIES
creditors - short	213.10	13.45%	313.20	16.16%	248.00	13.21%	363.90	16.56%	m
creditors - long	389.30	24.58%	487.70	25.17%	462.30	24.62%	430.00	19.57%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	602.40	38.04%	800.90	41.33%	710.30	37.82%	793.90	36.14%	m

EQUITY
ord cap, reserves	981.40	61.96%	1,137.60	58.71%	1,167.00	62.14%	1,402.70	63.85%	m
prefs, minorities	-	-%	-0.70	-0.04%	0.60	0.03%	0.40	0.02%	m

TOTAL	981.40	61.96%	1,136.90	58.67%	1,167.60	62.18%	1,403.10	63.86%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

Halma Cash Flow Statement

	31 Mar 2019 (GBP)	31 Mar 2020 (GBP)	31 Mar 2021 (GBP)	31 Mar 2022 (GBP)
Operating CF	219.00	255.50	277.60	237.40	m
Pre-Financing CF	115.00	-20.90	213.40	102.70	m
Retained CF	1.40	32.80	29.90	20.80	m

Halma Brokers

Name	Activity	Type	Mnemonic	Code
THE ROYAL BANK OF SCOT N.V.	Market Maker(MME)	Broker/Dealer	RBSM	ABNAGB22
Arbuthnot Securities Limited	Market Maker(MME)	Broker/Dealer	ARBT	ALESGB31MKT
J.P. Morgan Cazenove Limited	Market Maker(MME)	Broker/Dealer	CAZR	CAZEGB2L
CREDIT SUISSE SEC (EUROPE) LTD	Market Maker(MME)	Broker/Dealer	CSFB	CSFBGB2L
Deutsche Bank AG London Branch	Market Maker(MME)	Broker/Dealer	DEUT	DEUTGB2L
Commerzbank AG	Market Maker(MME)	Broker/Dealer	KLWT	DRESGB2LPST
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Goldman Sachs International	Market Maker(MME)	Broker/Dealer	GSCO	GSILGB2X
HSBC Bank plc	Market Maker(MME)	Broker/Dealer	HSBC	JCAPGB2L
J.P. Morgan Securities Ltd	Market Maker(MME)	Broker/Dealer	JPMS	JPMSGB2L
Morgan Stanley Securities Ltd	Market Maker(MME)	Broker/Dealer	MOST	MSSEGB21
Citigrp Global Mkt UK Equities	Market Maker(MME)	Broker/Dealer	CITI	SBUKGB21
Shore Capital Stockbrokers Ltd	Market Maker(MME)	Broker/Dealer	SCAP	SHOCGB21
Merrill Lynch International	Market Maker(MME)	Broker/Dealer	MLSB	SNCSGB2LBIC
UBS AG	Market Maker(MME)	Broker/Dealer	UBS.	UBSWGB2LEQU
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC