HAL Trust (HAL) — Defensive Interval Ratio

Latest as of December 2025: 179 days

HAL Trust (HAL) has a Defensive Interval Ratio of 179 days as of December 2025. Defensive assets of €2.80 Billion (cash €-, short-term investments €627.40 Million, receivables €2.18 Billion) cover 179 days of daily cash needs of €15.70 Million/day.

Defensive Interval Ratio

179 days
Days of operational coverage

Defensive Assets

€2.80 Billion
Cash + ST Investments + Receivables

Daily Cash Need

€15.70 Million
Current Liabilities ÷ 365

Current Liabilities

€5.73 Billion
EUR

HAL Trust Defensive Interval Ratio (2006–2025)

This chart shows how HAL Trust's Defensive Interval Ratio has evolved across 17 annual periods from 2006 to 2025. As of December 2025, the ratio stands at 179 days, meaning defensive assets of €2.80 Billion can fund 179 days of operations without new revenue. For the complete balance sheet picture, see HAL current and non-current assets.

Annual Defensive Interval Ratio for HAL Trust (2006–2025)

The table below presents the year-by-year Defensive Interval Ratio for HAL Trust from 2006 to 2025, covering 17 annual filings. Each row shows defensive assets, daily cash need, the DIR in days, and the change in days compared to the prior year. See HAL Trust current assets vs equity to evaluate short-term liquidity relative to the company's equity base.

Year DIR (days) Defensive Assets (EUR) Daily Cash Need Cash ST Investments Change (days)
2025 179 days €2.80 Billion €15.70 Million/day €- €627.40 Million ▼ -60 days
2024 239 days €3.80 Billion €15.92 Million/day €- €1.74 Billion ▲ +6 days
2023 232 days €3.94 Billion €16.93 Million/day €- €2.18 Billion ▼ -109 days
2022 341 days €5.92 Billion €17.37 Million/day €- €3.65 Billion ▼ -343 days
2021 684 days €5.82 Billion €8.51 Million/day €- €4.44 Billion ▲ +590 days
2020 94 days €1.46 Billion €15.51 Million/day €- €195.80 Million ▲ +8 days
2019 86 days €1.31 Billion €15.32 Million/day €- €222.60 Million ▼ -91 days
2018 177 days €1.51 Billion €8.53 Million/day €- €274.70 Million ▼ -43 days
2017 220 days €1.74 Billion €7.89 Million/day €- €624.90 Million ▲ +49 days
2016 171 days €1.34 Billion €7.83 Million/day €- €233.50 Million ▼ -15 days
2015 186 days €1.26 Billion €6.80 Million/day €- €270.40 Million ▲ +12 days
2014 174 days €1.12 Billion €6.42 Million/day €- €151.80 Million ▼ -164 days
2013 339 days €1.03 Billion €3.05 Million/day €- €81.80 Million ▲ +56 days
2012 282 days €1.00 Billion €3.55 Million/day €- €158.50 Million ▼ -6 days
2008 288 days €882.60 Million €3.07 Million/day €- €569.70 Million ▼ -76 days
2007 364 days €1.00 Billion €2.75 Million/day €- €698.00 Million ▲ +108 days
2006 256 days €663.67 Million €2.59 Million/day €- €422.24 Million —
DIR = (Cash + Short-term Investments + Net Receivables) / (Daily Cash Expenses)