5 models fit Haleon plc American Depositary Shares (Each representing two Ordinary Shares) and they disagree: 1 of 5 land within 15% of the average.
Two or more of our models back this value.
Premium(i)Silver68
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
ACCE opinionHaleon plc American Depositary Shares (Each representing two Ordinary Shares) (HLN)
Fair value (5 models)
$9.24
ACCE price target
$10.20
Rating
Overvalued
Horizon
12 months
Fair value published on 19 Oct 2026, 19:04 CEST; previously $11.51 since 11 Oct 2026, 00:00 CEST.
ACCE price target published on 20 Sept 2026, 00:00 CEST.
Price used: $10.27 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
11.2% above
-10.1% to fair value
ACCE score
55
out of 100
Analysts
60% buy
5 covering
P/E
21.2x
forward 15.7x
1-year return
+9.6%
Dividend yield
1.91%
Haleon plc American Depositary Shares (Each representing two Ordinary Shares) in four questions
Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
Overview
ACCE thesis
Haleon makes consumer health brands that most people already own, including Sensodyne toothpaste, Centrum vitamins, Advil and Voltaren pain relief, and Panadol, sold largely without a prescription. Its edge is the scale and shelf presence of these leading brands, which supports a 65.6% gross margin and a 23.9% operating margin. Revenue growth of 2.2% is slow, so the investment case rests on margin discipline and pricing rather than volume expansion. At 15.4x forward earnings against 19.4x trailing, the market expects earnings to rise, though the stock's 51/100 score and 10.1% ROE suggest the returns on capital have yet to match the brand strength. It merits a closer look at whether top-line growth can accelerate beyond low single digits to justify that forward multiple.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Earnings decline despite revenue growth
Earnings fell 4.5% YoY while revenue grew 2.2%. Operating margin of 23.9% masks deteriorating profitability. Suggests cost pressures or mix headwinds.
high
ACCE score collapse
Score dropped 8 points in 90 days (59 to 51). Quality and Momentum sub-scores weak at 74 and 47. Indicates recent deterioration in fundamentals or momentum.
moderate
Sequential revenue contraction
QoQ revenue declined 3.9% despite positive YoY growth of 2.2%. Suggests recent deceleration or seasonal weakness not yet reflected in annual trends.
AI research notes
AI-assisted·How I use AIWritten Oct 11, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Stock trades at 15.7x forward earnings, well below the 23.6x sector median, suggesting meaningful undervaluation.
Free cash flow yield of 6.4% on GBP 2.0B annual generation provides steady income with modest 0.52 debt-to-equity ratio.
Why it could disappoint
Revenue growth of 2.2% year over year matches the 5-year average, indicating the company is stuck in stagnation.
Return on invested capital of 5.4% lags the 5.2% risk-free rate, meaning capital deployment destroys shareholder value.
Latest earnings missed expectations by 100.0% with zero EPS reported versus 0.12 expected, signaling deteriorating profitability.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Oct 29, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
Walk me through this stock
Plain-English pros, cons, and what to watch. Pro feature.
PRO
Ask ACCE
Valuation
INVESTOR
Where HLN's valuation models land
Price
$10.27
Model fair value
$9.24
Model range
$5.21 to $18.18
Fair value $9.24
Price $10.27
The price sits inside the model range.
Model
Fair value
Upside
Discounted cash flow
Dividend discount
EV/EBITDA comparison
Graham number
P/E comparison
Create a free account: 5 full stock pages a month, no card.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
+A plain reason under every score
+Conviction breakdown and growth / value / quality / momentum scores
Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.
+Quarter-over-quarter institutional position changes
+Every insider and Congress trade, with how late it was disclosed
+Active 13D activist filings and top holders
Compare
Where it sits vs peers
News and Record
Press releases mentioning this company
Recent performance
1 week
+1.4%
1 month
+12.7%
3 months
+5.0%
6 months
+7.2%
YTD
+1.6%
1 year
+9.6%
SEC filings
Recommendation history, last 12 months
Date
Type
New
Previous
Price
19 Oct 2026, 19:04 CEST
Rating
Fairly valued
first publication
$10.13
19 Oct 2026, 19:04 CEST
Fair value
$9.24
$11.51
$10.13
11 Oct 2026, 00:00 CEST
Fair value
$11.51
$11.18
$9.32
1 Oct 2026, 00:00 CEST
Fair value
$11.18
$11.39
$6.85
28 Sept 2026, 00:00 CEST
Fair value
$11.39
$11.68
$6.99
21 Sept 2026, 00:00 CEST
Fair value
$11.68
$11.91
$6.95
20 Sept 2026, 00:00 CEST
ACCE price target
$10.20
first publication
$9.28
10 Sept 2026, 00:00 CEST
Fair value
$11.91
$12.25
$6.83
5 Sept 2026, 00:00 CEST
Fair value
$12.25
$12.44
$7.31
22 Aug 2026, 00:00 CEST
Fair value
$12.44
$10.14
$7.25
Price
+11.0% · 1Y
Ask anything about HLN
Answered from Haleon plc American Depositary Shares (Each representing two Ordinary Shares) fundamentals + recent valuations. Every number shows its source and date.
This stock Peer Peer median weaker → stronger
P/Ebetter than 67% of peers
low 13.5x21.2xhigh 67.8x
ROEbetter than 60% of peers
low 7%10%high 65%
Div yieldbetter than 83% of peers
low 0.0%1.9%high 2.6%
Peers
Prices Oct 23, 2026
Company
Price
Fair value
vs fair value
P/E
ROE
Quality
Score
HLNHaleon plc American Depositary Shares (Each representing two Ordinary Shares)
$10.27
$9
11% above
21.2x
10.1%
74
55
TEVATeva Pharmaceutical Industries Limited American Depositary Shares