Halma earnings: next results and guidance
Halma's next results are expected on November 19, 2026. Watch whether Halma can keep investing, integrate acquisitions and generate enough cash to invest again.
What has Halma guided for FY27?
Halma expects another year of strong growth, with more operating profit left from each pound of sales. It expects sales from existing businesses to grow at a low-double-digit rate excluding currency effects, while operating profit before interest and tax, with unusual items removed, reaches 23.5%–24% of sales in FY27.
Photonics is central to the forecast. Management expects it to add about five percentage points to group organic growth, with photonics itself growing about 30% organically in FY27. That depends on customers deploying their projects, Halma expanding production and the supply chain keeping pace.
| Period covered | Low | High | Date given | |
|---|---|---|---|---|
| Organic revenue growth | Ongoing | 5.0% | 24 June 2026 | |
| Adjusted EBIT margin target range | Ongoing | 19.0% | 23.0% | 24 June 2026 |
| Photonics premium to Group organic revenue growth (percentage points) | Year to Mar 2027 | 5.0 | 5.0 | 24 September 2026 |
| Organic constant currency photonics growth rate | Year to Mar 2027 | 30.0% | 30.0% | 24 September 2026 |
What this means. “Double our earnings every five years” means the company aims to make twice as much profit over each five-year period, not increase it by two percent.
What do Halma's last eight reported periods show?
Halma reports half-year and full-year results, so the latest actual period in the supplied sequence is the six months to March 2026, not a standalone quarter. The second half of FY2026 produced more revenue and company-measure operating earnings than the first, while net income and diluted EPS were nearly flat between the two halves. That pattern shows uneven timing within the year rather than a dependable quarterly run-rate.
| 6 months to Mar 2026 | 6 months to Sep 2025 | 6 months to Mar 2025 | 6 months to Sep 2024 | 6 months to Mar 2024 | 6 months to Sep 2023 | 6 months to Mar 2023 | 6 months to Sep 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,344.9 | 1,237.4 | 1,173.8 | 1,074.3 | 1,083.6 | 950.5 | 977.3 | 875.5 |
| Adjusted profit after tax | 221.7 | 209.0 | 193.5 | 162.3 | 171.7 | 139.3 | 153.7 | 134.9 |
| Net income | 185.5 | 186.8 | 160.2 | 136.2 | 150.3 | 118.5 | 119.5 | 115.0 |
| EPS, diluted | 0.49 | 0.49 | 0.42 | 0.36 | 0.40 | 0.31 | 0.32 | 0.30 |
| Book value per share | 5.71 | 5.24 | 5.00 | 4.58 | 4.57 | 4.35 | 4.21 | 4.29 |
What should investors watch in Halma's next results?
The 19 November half-year results will test whether Halma is delivering its stronger margin outlook while absorbing its acquisitions. Investors should compare reported sales with order intake: orders running ahead of revenue suggest demand, but delivery, production and customer acceptance determine when that demand becomes income.
They should also look beyond group revenue to Dreampath, Pyxis and the other four acquired businesses. Their sales now contribute to reported growth, so a stronger group number alone will not show whether Halma’s existing operations are improving. More useful evidence would be acquired businesses growing while the group maintains its returns.