London, Feb 24, 2026, 09:44 GMT — Regular session
- Halma shares pushed to a fresh 12-month high in early trade.
- No new company statement, leaving the next scheduled update in focus.
- Wider European stocks were softer as tariff and AI worries lingered.
Halma (HLMA.L) shares rose 1.8% to 4,042 pence by mid-morning on Tuesday, after touching 4,052 pence — a new 52-week high. The FTSE 100 safety and environmental technology group was valued at about £15.3 billion, and traded on a price-to-earnings ratio of roughly 51, a measure that compares the share price with earnings per share. (London South East)
The move mattered because it pushed the stock back to the top of its one-year range even as investors stayed cautious elsewhere. With no obvious company catalyst on the tape, the rise looked like steady buying rather than a scramble.
European shares slipped as traders weighed fresh trade uncertainty and a new bout of anxiety about how artificial intelligence could disrupt banks and other sectors. Strategists led by Deutsche Bank’s Jim Reid wrote that the EU worry is tariffs could “bring total tariff rates… above the 15% maximum,” though they still see the effective rate falling over time. (Reuters)
Halma itself did not publish a regulatory announcement on Tuesday, and the most recent items on Investegate for the company dated back to mid-January. (Investegate)
The last major guidance marker came in November, when Halma reported record first-half results and said the performance supported “a further upgrade to our guidance,” according to chief executive Marc Ronchetti. The company said it expected mid-teens organic constant-currency revenue growth for the full year and an adjusted EBIT margin of around 22% (excluding a one-off), adding that order intake was still ahead of revenue at the time. (Halma)
“Organic constant currency” is the company’s way of stripping out currency swings and deal activity to show underlying growth. “Adjusted EBIT” is operating profit with certain items taken out, a cleaner read on day-to-day trading, but it can differ from statutory profit.
At these levels, the stock is priced for consistency. Investors will be looking for clean execution — not just growth, but proof that margins hold up as input costs, wages and exchange rates shift.
There’s an obvious downside scenario too: if the next update shows the order book cooling, or if big industrial customers pause spending into a choppier trade backdrop, a high-multiple stock can fall fast. Halma’s low yield also means most of the return case rests on growth staying intact.
The next near-term catalyst is the group’s provisional trading update on March 12, ahead of its March 31 year-end and full-year results scheduled for June 11. (Halma)
