Monday, January 22, 2018

Halma's Model Continues To Drive Value For Shareholders

Strong revenue growth and healthy margins remain a heady mix for industrial investors, and Halma (OTCPK:HLMAF) (OTCPK:HLMLY) (HLMA.L) is a good case in point. The market has amply rewarded this diversified European safety, health, and environmental conglomerate for its ongoing growth, with the shares up 25% or so since the last time I wrote.

Halma's model of steadily acquiring leading businesses in defensible niches has a lot of room to run, but it's hard to reconcile what I regard as a very good long-term model with today's valuation. Trading at close to 20x next year's EBITDA, it's hard to argue that this is any sort of overlooked hidden gem at this point.

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Halma's Model Continues To Drive Value For Shareholders

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