HAL Trust (HAM:HA4) Total Operating Expense: €3,449 Mil (TTM As of Dec. 2025)


HAM:HA4 HAL Trust HAM:HA4
89 GF Score
Price €166.40
GF Value €128.96
! 6 Warning Signs
View Full Analysis

What is HAL Trust Total Operating Expense?

HAL Trust HAM:HA4 +1.59% 89 Total Operating Expense is €3,449 Mil as of Dec. 2025. GuruFocus rates HAM:HA4 with a GF Score™ of 89/100 and a GF Value™ of €128.96. The stock has 6 warning signs investors should review.

HAL Trust's Total Operating Expense for the six months ended in Dec. 2025 was €2,041 Mil. HAL Trust's Total Operating Expense for the trailing twelve months (TTM) ended in Dec. 2025 was €3,449 Mil.

HAL Trust Total Operating Expense Related Terms

HAL Trust Total Operating Expense Historical Data

* Premium members only.

The historical data trend for HAL Trust's Total Operating Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

HAL Trust Total Operating Expense Chart

HAL Trust Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Total Operating Expense
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,332.10 3,626.30 3,543.50 3,484.90 3,449.40

HAL Trust Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Total Operating Expense Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2,222.80 1,360.00 2,124.90 1,408.20 2,041.20
HAM:HA4
89GF Score
HAL Trust HAM:HA4
Total Operating Expense is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

HAL Trust Total Operating Expense Calculation

Total Operating Expense is the primary recurring expense associated with central operations that are incurred in order to generate sales.


Total Operating Expense for the trailing twelve months (TTM) ended in Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was €3,449 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Total Operating Expense of €3,449 Mil mean?
HAL Trust (HAM:HA4) has a Total Operating Expense of €3,449 Mil as of Dec. 2025. Total operating expense is the primary recurring expense associated with central operations. View historical data on HAL Trust and its competitors.
Is HAL Trust's Total Operating Expense too high?
HAL Trust's current Total Operating Expense is €3,449 Mil. Overall, HAL Trust has a GF Score™ of 89/100, reflecting its overall financial health beyond just this single metric.
How does HAL Trust's Total Operating Expense compare to BLK and BX?
HAL Trust's Total Operating Expense of €3,449 Mil can be compared against companies in the Asset Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Total Operating Expense for an Asset Management company?
A good Total Operating Expense depends on the Asset Management industry context. However, Total Operating Expense should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Total Operating Expense mean?
A high Total Operating Expense can signal that a stock is expensive relative to its fundamentals. Total operating expense is the primary recurring expense associated with central operations. View historical data on HAL Trust and its competitors. HAL Trust's current Total Operating Expense is €3,449 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HAL Trust stock overvalued right now?
HAL Trust (HAM:HA4) has a current Total Operating Expense of €3,449 Mil. The stock's GF Value™ is €128.96, compared to a current price of €166.40 — trading 29% above its estimated fair value. The current Total Operating Expense is €3,449 Mil. HAL Trust's overall GF Score™ is 89/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Total Operating Expense calculated?
Total Operating Expense is calculated from a company's financial statements. For HAL Trust (HAM:HA4), the current Total Operating Expense is €3,449 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is HAL Trust (HAM:HA4) Overvalued in 2026?

Based on GuruFocus' analysis, HAL Trust stock appears to be overvalued. The current stock price of €166.40 is trading 29% above its estimated GF Value™ of €128.96.

Key valuation signals for HAM:HA4:

  • Total Operating Expense: €3,449 Mil
  • GF Value™: €128.96 vs. price of €166.40 (29% above fair value)
  • GF Score™: 89/100 with 6 warning signs

No single metric tells the full story. See the HAM:HA4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

HAL Trust Business Description

Address Weena 696, Rotterdam, NLD, 3012 CN
HAL Trust is an investment company. The company's reportable segments include Unquoted, Quoted interests, Real estate, and Liquid portfolio. It generates majority of its revenue from the Quoted interests segment which comprises both the company's consolidated and unconsolidated interests in publicly traded entities that are not in scope of the Liquid portfolio segment. Geographically, the company operates in Europe, USA & Canada, Asia, and Other. It generates maximum revenue from Europe.
89GF Score

Get the complete analysis for HAM:HA4

Total Operating Expense is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€166.40
Price
€128.96
GF Value