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Haleon PLC
(LSE:HLN)
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Rating:63Neutral
Price Target:
338.00 p
▼(-9.46% Downside)
Action:Reiterated
Date:10/30/26
The score is supported primarily by strong, consistent cash generation and improving profitability, reinforced by a generally positive earnings call with maintained guidance and margin/EPS momentum. Offsetting this is weak technical positioning, with the stock trading materially below key moving averages, and only moderate valuation support given a mid-range P/E and modest dividend yield.
Positive Factors
Durable cash generation
Consistent operating and free cash flow indicates that Haleon’s earnings are supported by cash rather than accounting effects. This provides capacity to fund brand investment, productivity programs, debt reduction and shareholder distributions through varied market conditions.
Negative Factors
Leverage remains elevated
Although debt declined in 2025, leverage remains higher than earlier years, leaving less balance-sheet flexibility than Haleon previously had. This can constrain capital allocation and make the company more sensitive to weaker operating performance or prolonged cost pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Durable cash generation
Consistent operating and free cash flow indicates that Haleon’s earnings are supported by cash rather than accounting effects. This provides capacity to fund brand investment, productivity programs, debt reduction and shareholder distributions through varied market conditions.
Read all positive factors
Haleon PLC (HLN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£28.09B
Dividend Yield2.29%
Average Volume (3M)34.51M
Price to Earnings (P/E)17.6
Beta (1Y)0.59
Revenue Growth1.21%
EPS Growth8.33%
CountryUK
Employees24,535
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.18
Shares Outstanding8,796,578,000
10 Day Avg. Volume30,073,032
30 Day Avg. Volume34,514,659
Financial Highlights & Ratios
PEG Ratio1.05
Price to Book (P/B)2.05
Price to Sales (P/S)3.05
P/FCF Ratio16.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£381.56Price Target Upside2.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)0.21
Revenue Forecast (FY)£11.35B
Haleon PLC Business Overview & Revenue Model
Company Description
Haleon plc operates as a global entity focused on developing, manufacturing, and marketing an array of consumer health products. Its operations extend across multiple continents, specifically North America, Europe, the Middle East, Africa, Latin A...
How the Company Makes Money
Haleon makes money primarily by selling branded consumer health products to retail and pharmacy channels (and, in some cases, directly to consumers via e-commerce), generating revenue when wholesalers, retailers, and distributors purchase its prod...
Haleon PLC Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 04, 2027
Earnings Call Sentiment Positive
The call presented a constructive operational and financial picture: solid organic growth (3.1% in the quarter), strong margin expansion (gross margin +140 bps, operating margin +120 bps) and double‑digit EPS growth, supported by supply‑chain productivity, digital/e‑commerce momentum and targeted regional execution (China, LatAm, India). However, notable near‑term headwinds remain in respiratory/cold & flu, Europe and specific Middle East markets, plus some pricing pressure in APAC from hospital channel activity. Management maintained FY guidance (3%–5%) and expects a stronger second half, suggesting confidence in execution despite the regional and category uncertainties.Positive Updates
Organic Sales Growth and Volume Improvement
Quarter organic sales growth of 3.1% (up from 2.2% in Q1) with volume/mix at +1.4%; North America delivered 3.1% growth with a 2.0% volume contribution.
Negative Updates
Respiratory Health Weakness
Respiratory category remained weak in Q2 and removed ~150 basis points from organic sales growth; cough & cold (eg, Contac in China) showed little seasonal pickup after two years of category decline, introducing downside risk for Q4 expectations.
Read all updates
Q2-2026 Updates
Positive
Negative
Organic Sales Growth and Volume Improvement
Quarter organic sales growth of 3.1% (up from 2.2% in Q1) with volume/mix at +1.4%; North America delivered 3.1% growth with a 2.0% volume contribution.
Read all positive updates
Company Guidance
Management reiterated full‑year organic sales guidance of 3–5% (against a medium‑term ambition of 4–6%), saying they expect a stronger H2 with a step‑up in volume mix and broadly similar pricing to H1; Q2 organic was 3.1% (Q1 2.2%) with volume mix 1.4%, North America 3.1% (2% volume) and emerging markets improving to 6.3% (China grew high single‑digit with Douyin >100%). They expect high‑single‑digit operating‑margin growth in H2 and continued operating profit and EPS momentum (H1 EPS +12%), supported by H1 gross margin +140bps, operating margin +120bps (FX +40bps), A&P at 20.9% of sales (A&P +3.2% in H1, 60% digital) and supply‑chain/operating‑model savings of GBP175–200m (roughly one‑third in this year), giving flexibility to absorb Middle‑East cost roll‑offs while increasing H2 investment.Haleon PLC Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
63
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.15B | 11.03B | 11.23B | 11.30B | 10.86B | 9.54B |
| Gross Profit | 7.31B | 7.14B | 6.82B | 6.75B | 6.73B | 5.95B |
| EBITDA | 2.92B | 2.85B | 2.81B | 2.79B | 2.68B | 2.21B |
| Net Income | 1.62B | 1.67B | 1.44B | 1.05B | 1.06B | 1.39B |
Balance Sheet | ||||||
| Total Assets | 32.58B | 32.63B | 34.31B | 34.05B | 34.81B | 34.45B |
| Cash, Cash Equivalents and Short-Term Investments | 826.00M | 1.32B | 2.19B | 1.04B | 684.00M | 414.00M |
| Total Debt | 8.25B | 8.61B | 10.10B | 9.46B | 10.44B | 992.00M |
| Total Liabilities | 16.14B | 16.15B | 18.09B | 17.33B | 18.36B | 7.97B |
| Stockholders Equity | 16.38B | 16.43B | 16.17B | 16.61B | 16.33B | 26.36B |
Cash Flow | ||||||
| Free Cash Flow | 1.19B | 2.02B | 1.98B | 1.76B | 1.74B | 1.06B |
| Operating Cash Flow | 1.52B | 2.34B | 2.30B | 2.10B | 2.06B | 1.36B |
| Investing Cash Flow | -332.00M | -580.00M | 528.00M | -134.00M | -8.78B | -33.00M |
| Financing Cash Flow | -1.99B | -2.61B | -1.54B | -1.57B | 6.91B | -1.24B |
Haleon PLC Technical Analysis
Negative
373.30
Price Trends
352.26
Negative
353.81
Negative
357.05
Negative
Market Momentum
0.22
Positive
29.68
Positive
18.03
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HLN, the sentiment is Negative. The current price of 373.3 is above the 20-day moving average (MA) of 358.97, above the 50-day MA of 352.26, and above the 200-day MA of 357.05, indicating a bearish trend. The MACD of 0.22 indicates Positive momentum. The RSI at 29.68 is Positive, neither overbought nor oversold. The STOCH value of 18.03 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:HLN.
Haleon PLC Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | £80.73M | 15.60 | 7.82% | 0.10% | ― | ― | |
63 Neutral | £28.09B | 17.61 | 9.89% | 2.29% | 1.21% | 8.33% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | £60.69M | -7.72 | 64.57% | ― | 36.19% | 60.75% | |
45 Neutral | £18.77M | -80.00 | -44.68% | ― | -2.14% | ― | |
42 Neutral | £253.30M | -4.04 | 409.00% | ― | 2.94% | -32.00% |
* Healthcare Sector Average
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Haleon PLC Corporate Events
Regulatory Filings and Compliance
Haleon Updates Share Capital and Voting Rights Ahead of Disclosure Assessments
Neutral
Oct 1, 2026
Haleon plc has confirmed that as of 30 September 2026 it has 8,808,341,409 ordinary shares in issue, of which 11,763,163 are held in treasury, leaving 8,796,578,246 ordinary shares carrying voting rights. This updated share count provides the key ...
DividendsRegulatory Filings and Compliance
Haleon Executives Boost Holdings Through Dividend Reinvestment
Positive
Sep 24, 2026
Haleon has reported share transactions by its top executives under U.K. Market Abuse Regulation disclosure rules, highlighting ongoing compliance with market transparency standards. The notifications concern trades by the chief financial officer a...
DividendsRegulatory Filings and Compliance
Haleon Discloses Director Share Purchase via Dividend Reinvestment
Positive
Sep 18, 2026
Haleon plc disclosed a director dealing under UK Market Abuse Regulation, reporting that Senior Independent Non-Executive Director Alan Stewart acquired ordinary shares in the company through a dividend reinvestment plan. The transaction took plac...
Regulatory Filings and Compliance
Haleon Updates Total Voting Rights and Share Capital
Neutral
Sep 1, 2026
Haleon PLC has confirmed that as of 31 August 2026 it has 8,808,341,409 ordinary shares issued, of which 11,792,625 are held in treasury, leaving 8,796,548,784 ordinary shares carrying voting rights. This updated share and voting-rights figure is ...
Business Operations and StrategyPrivate Placements and Financing
Haleon Moves to Buy Back $2 Billion of 2027 Senior Notes
Positive
Aug 19, 2026
Haleon PLC has announced the pricing terms, expiration and results of a cash tender offer to repurchase any and all of the outstanding $1,999,350,000 3.375% fixed-rate senior notes due March 2027, issued by its wholly owned subsidiary Haleon US Ca...
Business Operations and StrategyStock BuybackFinancial Disclosures
Haleon Completes £500m Share Buyback, Updates Voting Share Count
Positive
Aug 19, 2026
Haleon plc is a global consumer health business specialising in over-the-counter products across oral health, vitamins and supplements, pain relief, respiratory and digestive health, and therapeutic skin care. Its brands such as Sensodyne, Panadol...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Haleon Advances Share Buyback, Cuts Outstanding Stock to 8.8 Billion Shares
Positive
Aug 17, 2026
Haleon plc has continued executing its share buyback programme announced in March 2026, repurchasing 10,995,213 ordinary shares for cancellation across multiple trading venues between 11 and 13 August. Following the latest transactions, the compan...
Business Operations and StrategyPrivate Placements and Financing
Haleon Issues $2 Billion in New Bonds to Refinance 2027 Debt
Positive
Aug 13, 2026
Haleon’s U.S. subsidiary, Haleon US Capital LLC, has launched and priced a $2 billion SEC-registered, three-tranche offering of senior fixed-rate U.S. dollar bonds, guaranteed by the parent company. The notes comprise $600 million due 2029 a...
Business Operations and StrategyPrivate Placements and Financing
Haleon Launches Tender Offer to Rebalance 2027 Debt Portfolio
Positive
Aug 11, 2026
Haleon’s consumer health portfolio spans oral care, vitamins, pain relief, respiratory, digestive and therapeutic skin categories under well-known brands including Advil, Centrum, Panadol, Sensodyne, Theraflu and Voltaren. The company focuse...
Regulatory Filings and Compliance
Haleon Updates Share Capital and Voting Rights Structure
Neutral
Aug 3, 2026
Haleon plc, a dual-listed consumer health company on the London and New York stock exchanges, specialises in over-the-counter products across oral health, vitamins and supplements, pain relief, respiratory and digestive health, and therapeutic ski...
DividendsFinancial DisclosuresRegulatory Filings and Compliance
Haleon lifts interim dividend as it posts 2026 half-year results
Positive
Jul 30, 2026
Consumer health group Haleon plc reported its half-year results for 2026 and made the full statement available to investors through the London Stock Exchange and its corporate website. The disclosure underscores the company’s ongoing commitm...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.