We assign a fundamental rating of 7 out of 10 to HALO. HALO was compared to 525 industry peers in the Biotechnology industry. HALO scores excellent on profitability, but there are some minor concerns on its financial health. HALO has both an excellent growth and valuation score. This means it is growing and it is still cheap. This is a rare combination! With these ratings, HALO could be worth investigating further 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.
In the past 5 years HALO has always been profitable.
In the past 5 years HALO always reported a positive cash flow from operatings.

1.2 Ratios

HALO's Return On Assets of 26.81% is amongst the best of the industry. HALO outperforms 97.71% of its industry peers.
With an excellent Return On Equity value of 118.17%, HALO belongs to the best of the industry, outperforming 99.62% of the companies in the same industry.
HALO's Return On Invested Capital of 42.77% is amongst the best of the industry. HALO outperforms 99.24% of its industry peers.
HALO had an Average Return On Invested Capital over the past 3 years of 17.81%. This is in line with the industry average of 18.07%.
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 better Profit Margin (47.91%) than 98.29% of its industry peers.
HALO's Profit Margin has declined in the last couple of years.
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's Gross Margin of 84.55% is amongst the best of the industry. HALO outperforms 87.24% of its industry peers.
HALO's Gross Margin has improved in the last couple of years.

		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

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), HALO is creating value.
Compared to 1 year ago, HALO has less shares outstanding
Compared to 5 years ago, HALO has less shares outstanding
The debt/assets ratio for HALO has been reduced compared to a year ago.

2.2 Solvency

HALO has an Altman-Z score of 5.12. This indicates that HALO is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of HALO (5.12) is better than 72.95% 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.
HALO has a better Debt to FCF ratio (2.51) than 93.14% of its industry peers.
HALO has a Debt/Equity ratio of 1.59. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of HALO (1.59) is worse than 77.14% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	1.59
Debt/FCF	2.51
Altman-Z	5.12

ROIC/WACC5.35

WACC8%

2.3 Liquidity

HALO has a Current Ratio of 1.59. This is a normal value and indicates that HALO is financially healthy and should not expect problems in meeting its short term obligations.
HALO has a Current ratio of 1.59. This is in the lower half of the industry: HALO underperforms 79.81% of its industry peers.
A Quick Ratio of 1.37 indicates that HALO should not have too much problems paying its short term obligations.
HALO has a worse Quick ratio (1.37) than 80.95% of its industry peers.

		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

The Earnings Per Share has grown by an impressive 48.55% over the past year.
The Earnings Per Share has been growing by 30.12% on average over the past years. This is a very strong growth
Looking at the last year, HALO shows a very strong growth in Revenue. 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

Based on estimates for the next years, HALO will show a quite strong growth in Earnings Per Share. The EPS will grow by 17.78% on average per year.
Based on estimates for the next years, HALO will show a quite strong growth in Revenue. The Revenue will grow by 13.23% on average per year.

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.
The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.

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4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 12.47, HALO is valued correctly.
HALO's Price/Earnings ratio is rather cheap when compared to the industry. HALO is cheaper than 97.52% of the companies in the same industry.
When comparing the Price/Earnings ratio of HALO to the average of the S&P500 Index (28.82), we can say HALO is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 8.40, the valuation of HALO can be described as reasonable.
Based on the Price/Forward Earnings ratio, HALO is valued cheaply inside the industry as 98.86% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 25.95. HALO is valued rather cheaply when compared to this.

		Industry Rank	Sector Rank
PE	12.47
Fwd PE	8.4

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, HALO is valued cheaply inside the industry as 96.95% of the companies are valued more expensively.
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	13.71
EV/EBITDA	10.72

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.
HALO has an outstanding profitability rating, which 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.