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Haleon PLC
(LSE:HLN)
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Rating:66Neutral
Price Target:
384.00 p
â–²(2.87% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by solid financial performance (consistent free cash flow and improving profitability) and a constructive earnings outlook with maintained guidance and margin/EPS momentum. These positives are tempered by a mixed technical backdrop (soft momentum and below key moving averages) and only moderate valuation support (mid-range P/E and modest dividend yield).
Positive Factors
Durable Cash Generation
Sustained operating and free cash flow gives Haleon internal funding for brand investment, innovation, debt reduction and shareholder returns, while reducing reliance on external financing across its consumer-health markets.
Negative Factors
Elevated Leverage
Debt reduction is positive, but leverage remains structurally higher than earlier periods and assets have declined since 2022, limiting financial flexibility if category weakness, inflation or execution pressures persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Durable Cash Generation
Sustained operating and free cash flow gives Haleon internal funding for brand investment, innovation, debt reduction and shareholder returns, while reducing reliance on external financing across its consumer-health markets.
Read all positive factors
Haleon PLC (HLN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£29.67B
Dividend Yield2.18%
Average Volume (3M)19.85M
Price to Earnings (P/E)18.5
Beta (1Y)0.52
Revenue Growth1.21%
EPS Growth8.33%
CountryUK
Employees24,535
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.18
Shares Outstanding8,796,549,000
10 Day Avg. Volume21,163,053
30 Day Avg. Volume19,849,024
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
£406.00Price Target Upside8.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)0.21
Revenue Forecast (FY)£11.39B
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 healthcare products to retailers, pharmacies, wholesalers, and e-commerce platforms. Revenue is generated from the volume of products shipped and the net price realized (after trade promotio...
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 | 2.86B | 2.85B | 2.68B | 2.67B | 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 | -62.00M | -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
361.39
Negative
349.04
Negative
359.19
Negative
Market Momentum
-2.81
Positive
30.66
Neutral
4.83
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 359.90, above the 50-day MA of 361.39, and above the 200-day MA of 359.19, indicating a bearish trend. The MACD of -2.81 indicates Positive momentum. The RSI at 30.66 is Neutral, neither overbought nor oversold. The STOCH value of 4.83 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 | £79.75M | 15.25 | 7.82% | 0.10% | ― | ― | |
66 Neutral | £29.67B | 18.46 | 9.89% | 2.18% | 1.21% | 8.33% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | £24.63M | -105.00 | -49.45% | ― | -27.38% | -50.00% | |
45 Neutral | £55.10M | -6.98 | 64.57% | ― | 36.19% | 60.75% | |
41 Neutral | £300.80M | -5.05 | 409.00% | ― | 2.94% | -32.00% |
* Healthcare Sector Average
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Haleon PLC Corporate Events
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...
Executive/Board ChangesRegulatory Filings and Compliance
Haleon CFO Dawn Allen Receives Performance Share Award and Sells Portion to Cover Taxes
Positive
Jul 2, 2026
Haleon plc has disclosed a director dealing under UK Market Abuse Regulation, detailing the vesting of a performance share plan award to Chief Financial Officer Dawn Allen and the related share sale to cover tax obligations. On 30 June 2026, Allen...
Regulatory Filings and Compliance
Haleon updates market on total voting rights and share capital
Neutral
Jul 1, 2026
Haleon plc has reported that as of 30 June 2026 it has issued 8,820,906,422 ordinary shares, of which 12,006,714 are held in treasury, leaving 8,808,899,708 shares carrying voting rights. The company noted that this voting share figure should be u...
Stock BuybackRegulatory Filings and Compliance
Haleon Cancels Nearly 7 Million Shares in Ongoing Buyback Programme
Positive
Jun 29, 2026
Haleon has repurchased 6,992,435 ordinary shares for cancellation as part of its ongoing share buyback programme launched in March 2026. The purchases, executed across the London Stock Exchange and multiple alternative trading venues on 22 and 23 ...
Stock BuybackRegulatory Filings and Compliance
Haleon Cancels 14.3 Million Shares Under Ongoing Buyback Programme
Positive
Jun 22, 2026
Haleon PLC has cancelled 14,288,204 ordinary shares as part of its ongoing share buyback programme, executed through purchases on multiple UK trading venues between 16 and 18 June 2026. Following these transactions, the company’s registered ...
Business Operations and StrategyStock Buyback
Haleon cancels 565,285 shares under ongoing buyback programme
Positive
Jun 15, 2026
Haleon PLC has repurchased 565,285 ordinary shares for cancellation as part of its share buyback programme announced in March 2026, paying a volume‑weighted average price of 331.9552 pence per share on 8 June 2026. The move forms part of the...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Haleon Cancels 16.6 Million Shares in Ongoing Buyback Programme
Positive
Jun 8, 2026
Haleon plc has cancelled 16,585,448 ordinary shares as part of its ongoing share buyback programme, with purchases executed across the London Stock Exchange, Cboe UK venues and Aquis between 1 and 4 June 2026. Following these transactions, Haleon&...
Business Operations and StrategyRegulatory Filings and Compliance
Haleon Updates Share Capital and Voting Rights for Disclosure Purposes
Neutral
Jun 1, 2026
Haleon has confirmed that as of 31 May 2026 it has 8,859,337,794 ordinary shares issued, of which 12,076,964 are held in treasury. This leaves 8,847,260,830 ordinary shares carrying voting rights, a key reference figure for investors and other sta...
Business Operations and StrategyStock Buyback
Haleon advances buyback programme with 10.1 million share cancellation
Positive
Jun 1, 2026
Haleon plc has continued executing its share buyback programme, purchasing 10,149,493 ordinary shares for cancellation across multiple trading venues between 26 and 29 May 2026. Following these transactions, the company’s registered share ca...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Haleon Cancels 2.46 Million Shares in Ongoing Buyback Programme
Positive
May 26, 2026
Haleon PLC has repurchased 2,458,291 of its own ordinary shares for cancellation as part of the share buyback programme launched in March 2026, with purchases executed across the London Stock Exchange, Cboe UK venues and Aquis between 18 and 22 Ma...
DividendsRegulatory Filings and Compliance
Haleon Executives Reinvest Dividends in Additional Shares on London and New York Markets
Positive
May 22, 2026
Haleon PLC disclosed that Chief Financial Officer Dawn Allen and Chief Executive Officer Brian McNamara have acquired additional ordinary shares in the company through dividend reinvestment. Allen purchased 2,596.07411 shares on the London Stock E...
DividendsRegulatory Filings and Compliance
Haleon discloses dividend-driven share purchase by senior independent director
Neutral
May 18, 2026
Haleon plc, the London- and New York-listed consumer health group, concentrates exclusively on everyday health products, investing in research and innovation across categories including oral care, pain relief, respiratory and digestive health. Its...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Haleon Cancels Over 8.3 Million Shares in Ongoing Buyback
Positive
May 18, 2026
Haleon has repurchased 8,316,688 ordinary shares for cancellation under its ongoing buyback programme, with purchases executed between 11 and 15 May 2026 across venues including the London Stock Exchange and Cboe UK. Following these transactions, ...
Stock BuybackRegulatory Filings and Compliance
Haleon Cancels Over 8.3 Million Shares Under Ongoing Buyback Programme
Positive
May 18, 2026
Haleon has repurchased 8,316,688 ordinary shares for cancellation as part of its ongoing share buyback programme launched in March 2026, executing trades between 11 and 15 May across venues including the London Stock Exchange and Cboe UK. Followin...
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.