![]() This segment, similar to Safety, has a strong integration in economic development. The company assists clients in accurately analyzing and understanding various environmental factors and contributes to the improvement of environmental management and resource utilization. It offers solutions for environmental monitoring, water and wastewater analysis and treatment, gas analysis and detection, and optical analysis. This segment of the company specializes in optical, optoelectronic, and spectral imaging systems. With strong R&D spending and the benefits of full-year acquisitions, FY24 is expected to be another strong year. This was partially supported by the 4 acquisitions conducted in the year but organic growth was an impressive 11%. Growth remains strong in this segment, with 16% in FY23. The reason for this is maintenance and compliance, which means ongoing services are required (both by law and by operational necessity). This segment generates high-quality revenue as a large portion of this is recurring in nature. Given the breadth of services, these solutions are utilized by a variety of industries, such as shops, healthcare facilities, offices, stadiums, industrial and logistics assets. Additionally, it provides solutions for ensuring safe movement in public, commercial, and industrial spaces, as well as elevator safety measures. In this segment, the company offers a range of solutions related to fire safety, including fire detection and suppression systems. Halma's business is split into three primary segments. ![]() This reflects an impressive level of resilience in what is a mature market. Halma's revenue has grown at a healthy 12% over the last 10 years, with no fiscal year post-FY16 with growth below 10% (excl. Presented above is Halma's financial performance for the last decade. This has been driven by a continuation of its successful growth strategy, as well as operational excellence. Halma's share price has performed well in the last decade, slightly underperforming the wider S&P 500. Halma was incorporated in 1894 and is listed in the UK. The company operates across various sectors, including healthcare, environmental, and industrial safety. With a diverse portfolio of businesses, Halma focuses on developing innovative products and technologies to protect people and assets, prevent accidents, and improve operational efficiency. Halma Plc ( OTCPK:HLMAF) is a global group of technology companies that specialize in safety, health, and environmental solutions. Halma looks slightly undervalued, with investors likely pricing in the impact of an increase in the cost of capital.The business has been resilient to economic conditions and when compared to peers, is significantly outperforming.The business looks positioned to continue its current growth trajectory, with M&A and organic growth propelling the business forward hand-in-hand.Halma is a high-quality business, owing to its impressive M&A track record, diversified revenue, deep industry expertise, and exposure to attractive industries (high margins, stick revenue).Godji10/iStock via Getty Images Investment thesis ![]()
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