Haleon Pakistan Limited (HALEON) financial ratios

Haleon Pakistan Limited earned a net margin of 14.8% in FY2025 against a five-year average of 8.1% (Pharmaceuticals median 9.4%). Return on equity was 47.6%, compared with a sector median of 21.7%. The current ratio stood at 1.57× and debt was 1.7% of equity. Cash took about 85 days to cycle through receivables, inventory and payables.

FY2025 vs the Pharmaceuticals median

Gross margin: 39.1%; Sector median 37.0%
Operating margin: 23.1%; Sector median 17.3%
Net margin: 14.8%; Sector median 9.4%
Return on equity (ROE): 47.6%; Sector median 21.7%
Return on assets (ROA): 26.0%; Sector median 11.7%
Current ratio: 1.57×; Sector median 1.79×
Debt to equity: 1.7%; Sector median 5.8%
Asset turnover: 1.76×; Sector median 1.26×
Dividend payout ratio: 27.6%; Sector median 32.8%

Median of the 14 companies in the sector with the figure for their latest fiscal year.

HALEON financial ratios (annual) (Rs mn)
Rs mn	FY2025 Jan – Dec 2025	FY2024 Jan – Dec 2024	FY2023 Jan – Dec 2023	FY2022 Jan – Dec 2022	FY2021 Jan – Dec 2021	FY2020 Jan – Dec 2020	FY2019 Jan – Dec 2019	FY2018 * Jan – Dec 2018	FY2017 Jan – Dec 2017	FY2016 * Jan – Dec 2016
Profitability
Gross margin	39.1%	34.5%	20.4%	17.4%	27.5%	26.8%	30.6%	29.6%	37.4%	28.1%
EBITDA margin	24.5%	19.5%	6.8%	5.0%	13.2%	10.6%	12.9%	12.4%	13.2%	15.7%
Operating margin	23.1%	18.1%	5.4%	3.8%	11.9%	9.2%	11.4%	11.0%	12.9%	15.5%
Pre-tax margin	24.7%	20.5%	5.8%	3.6%	12.5%	8.9%	10.4%	9.8%	14.1%	15.9%
Net margin	14.8%	12.3%	3.1%	1.2%	8.8%	6.4%	7.7%	7.2%	8.5%	10.1%
Effective tax rate	40.0%	40.0%	46.1%	67.2%	29.2%	28.9%	26.0%	26.5%	39.6%	36.3%
Returns
Return on equity (ROE)	47.6%	45.8%	13.2%	4.7%	35.9%	26.1%	30.2%	35.0%	36.3%	—
Return on assets (ROA)	26.0%	22.9%	6.0%	2.2%	17.2%	12.6%	14.8%	18.0%	20.7%	—
Return on invested capital (ROIC)	46.9%	45.0%	13.1%	4.7%	35.9%	24.6%	25.1%	30.6%	36.3%	—
Liquidity
Current ratio	1.57×	1.54×	1.32×	1.42×	1.46×	1.32×	1.38×	1.29×	2.33×	2.16×
Quick ratio	0.88×	0.96×	0.74×	0.81×	0.87×	0.78×	0.72×	0.72×	1.83×	1.72×
Leverage
Debt to equity	1.7%	2.1%	2.9%	2.2%	0.0%	0.0%	17.0%	41.5%	—	—
Debt to capital	1.7%	2.0%	2.8%	2.2%	0.0%	0.0%	14.6%	29.3%	—	—
Debt to assets	0.9%	1.1%	1.3%	1.0%	0.0%	0.0%	8.5%	20.0%	—	—
Assets to equity	1.83×	2.00×	2.21×	2.10×	2.09×	2.06×	2.03×	1.94×	1.75×	—
Efficiency
Asset turnover	1.76×	1.86×	1.90×	1.90×	1.95×	1.99×	1.93×	2.50×	2.44×	—
Receivable days days	17	22	31	33	30	35	44	43	69	—
Inventory days days	91	81	75	70	73	73	82	54	48	—
Payable days days	22	17	16	13	9	11	22	21	25	—
Cash conversion cycle days	85	85	90	90	95	97	104	76	92	—
Dividends
Dividend payout ratio	27.6%	38.4%	0.0%	0.0%	0.0%	46.4%	46.5%	54.5%	67.6%	0.0%
Earnings retention rate	0.72×	0.62×	1.00×	1.00×	1.00×	0.54×	0.53×	0.46×	0.32×	1.00×

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

HALEON: frequently asked questions

What is HALEON's EPS?

Haleon Pakistan Limited reported basic earnings per share of Rs 54.45 for FY2025 (Jan – Dec 2025). Over the trailing twelve months (TTM to Jun 2026) EPS was Rs 56.41.

What is HALEON's P/E ratio?

At the closing price of Rs 684.36 on 16 Oct 2026, HALEON trades at a P/E of 12.1× based on EPS of Rs 56.41 (TTM to Jun 2026).

Does HALEON pay dividends?

Yes. Haleon Pakistan Limited declared a dividend of Rs 30.00 per share for FY2025. It has paid a dividend in each of the last 2 years. At Rs 684.36 that is a dividend yield of 4.4%.

What was HALEON's revenue and profit in FY2025?

Haleon Pakistan Limited reported revenue of Rs 43.1 bn and profit attributable to shareholders of Rs 6.4 bn for FY2025 (Jan – Dec 2025).

What is HALEON's book value per share?

Haleon Pakistan Limited's book value per share was Rs 126.41 at the end of FY2025. The shares trade at 4.93× book value.

Information only, not investment advice.