Taking everything into account, HALO scores 7 out of 10 in our fundamental rating. HALO was compared to 524 industry peers in the Biotechnology industry. HALO has an excellent profitability rating, but there are some minor concerns on its financial health. An interesting combination arises when we look at growth and value: HALO is growing strongly while it also seems undervalued. This makes HALO very considerable for value and growth investing!

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

HALO had positive earnings in the past year.
HALO had a positive operating cash flow in the past year.
HALO had positive earnings in each of the past 5 years.
Each year in the past 5 years HALO had a positive operating cash flow.

1.2 Ratios

The Return On Assets of HALO (26.81%) is better than 97.71% of its industry peers.
Looking at the Return On Equity, with a value of 118.17%, HALO belongs to the top of the industry, outperforming 99.62% of the companies in the same industry.
With an excellent Return On Invested Capital value of 42.77%, HALO belongs to the best of the industry, outperforming 99.24% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for HALO is in line with the industry average of 18.09%.
The last Return On Invested Capital (42.77%) for HALO is above the 3 year average (17.81%), which is a sign of increasing profitability.

		Industry Rank	Sector Rank
ROA	26.81%
ROE	118.17%
ROIC	42.77%

ROA(3y)16.25%

ROA(5y)21.49%

ROE(3y)192.36%

ROE(5y)173.4%

ROIC(3y)17.81%

ROIC(5y)29.79%

1.3 Margins

HALO has a Profit Margin of 47.91%. This is amongst the best in the industry. HALO outperforms 98.28% of its industry peers.
In the last couple of years the Profit Margin of HALO has declined.
HALO has a Operating Margin of 59.33%. This is amongst the best in the industry. HALO outperforms 100.00% of its industry peers.
In the last couple of years the Operating Margin of HALO has declined.
HALO has a Gross Margin of 84.55%. This is amongst the best in the industry. HALO outperforms 87.21% of its industry peers.
In the last couple of years the Gross Margin of HALO has grown nicely.

		Industry Rank	Sector Rank
OM	59.33%
PM (TTM)	47.91%
GM	84.55%

OM growth 3Y-4.44%

OM growth 5YN/A

PM growth 3Y-21.62%

PM growth 5YN/A

GM growth 3Y1.07%

GM growth 5Y1.9%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so HALO is creating value.
Compared to 1 year ago, HALO has less shares outstanding
HALO has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, HALO has an improved debt to assets ratio.

2.2 Solvency

HALO has an Altman-Z score of 5.18. This indicates that HALO is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of HALO (5.18) is better than 73.66% of its industry peers.
The Debt to FCF ratio of HALO is 2.51, which is a good value as it means it would take HALO, 2.51 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 2.51, HALO belongs to the top of the industry, outperforming 93.13% of the companies in the same industry.
A Debt/Equity ratio of 1.59 is on the high side and indicates that HALO has dependencies on debt financing.
HALO has a Debt to Equity ratio of 1.59. This is in the lower half of the industry: HALO underperforms 76.91% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	1.59
Debt/FCF	2.51
Altman-Z	5.18

ROIC/WACC5.31

WACC8.06%

2.3 Liquidity

A Current Ratio of 1.59 indicates that HALO should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.59, HALO is doing worse than 79.58% of the companies in the same industry.
A Quick Ratio of 1.37 indicates that HALO should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.37, HALO is doing worse than 80.73% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	1.59
Quick Ratio	1.37

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

HALO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 48.55%, which is quite impressive.
Measured over the past years, HALO shows a very strong growth in Earnings Per Share. The EPS has been growing by 30.12% on average per year.
HALO shows a strong growth in Revenue. In the last year, the Revenue has grown by 31.19%.
Measured over the past years, HALO shows a very strong growth in Revenue. The Revenue has been growing by 38.95% on average per year.

EPS 1Y (TTM)48.55%

EPS 3Y30.12%

EPS 5YN/A

EPS Q2Q%35.43%

Revenue 1Y (TTM)31.19%

Revenue growth 3Y31.82%

Revenue growth 5Y38.95%

Sales Q2Q%22.12%

3.2 Future

HALO is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 17.78% yearly.
The Revenue is expected to grow by 13.23% on average over the next years. This is quite good.

EPS Next Y50.81%

EPS Next 2Y40.55%

EPS Next 3Y32.4%

EPS Next 5Y17.78%

Revenue Next Year33.53%

Revenue Next 2Y29.85%

Revenue Next 3Y23.95%

Revenue Next 5Y13.23%

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 13.22, which indicates a correct valuation of HALO.
HALO's Price/Earnings ratio is rather cheap when compared to the industry. HALO is cheaper than 97.33% of the companies in the same industry.
HALO is valuated cheaply when we compare the Price/Earnings ratio to 28.41, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 8.91, the valuation of HALO can be described as reasonable.
Compared to the rest of the industry, the Price/Forward Earnings ratio of HALO indicates a rather cheap valuation: HALO is cheaper than 98.66% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 25.64. HALO is valued rather cheaply when compared to this.

		Industry Rank	Sector Rank
PE	13.22
Fwd PE	8.91

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, HALO is valued cheaper than 96.95% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of HALO indicates a rather cheap valuation: HALO is cheaper than 97.14% of the companies listed in the same industry.

		Industry Rank	Sector Rank
P/FCF	14.53
EV/EBITDA	10.94

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The excellent profitability rating of HALO may justify a higher PE ratio.
HALO's earnings are expected to grow with 32.40% in the coming years. This may justify a more expensive valuation.