Haleon plc (HLN) Income Statement
HLN 2025 at a glance
Fiscal year ended December 31, 2025 · British poundsHLN revenue and net income
Where HLN's revenue goes
2025Each bar shows an amount and its share of revenue. HLN kept 14.8% of revenue as net income.
HLN profit margins
HLN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −1.8% | +0.5% | +2.2% | — |
| Gross profit | +0.6% | +2.0% | +3.4% | — |
| Operating income | +9.3% | +9.7% | +8.6% | — |
| Net income | +13.1% | +15.4% | +7.3% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HLN income statement in British pounds
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | £11.03B | £11.23B | £11.30B | £10.86B | £9.54B | £9.89B | £8.48B |
| Cost of revenue | £3.83B | £4.29B | £4.34B | £4.28B | £3.60B | £3.98B | £3.68B |
| Gross profit | £6.99B | £6.95B | £6.96B | £6.58B | £5.95B | £5.91B | £4.80B |
| Research & development | £308.1M | £298.0M | £311.0M | £300.0M | £257.0M | £304.0M | £292.0M |
| Sales, general & admin | £4.36B | £4.45B | £4.29B | £4.04B | £3.79B | £4.22B | £3.60B |
| Total operating expenses | £4.43B | £4.74B | £4.96B | £4.75B | £4.31B | £4.31B | £3.90B |
| Operating income | £2.41B | £2.21B | £2.00B | £1.82B | £1.64B | £1.60B | £897.0M |
| Interest income | £57.0M | £65.0M | £34.0M | £51.0M | £17.0M | £18.0M | £24.0M |
| Interest expense | £332.5M | £394.0M | £414.0M | £347.4M | £16.0M | £25.6M | £28.1M |
| Income before taxes | £2.15B | £1.91B | £1.63B | £1.62B | £1.64B | £1.59B | £886.0M |
| Income taxes | £461.7M | £435.0M | £517.0M | £499.0M | £197.0M | £410.0M | £199.0M |
| Net income | £1.63B | £1.44B | £1.05B | £1.06B | £1.39B | £1.15B | £655.0M |
| EBITDA | £2.88B | £2.64B | £2.35B | £2.18B | £2.21B | £1.91B | £1.17B |
| Gross margin | 63.3% | 61.9% | 61.6% | 60.6% | 62.3% | 59.7% | 56.6% |
| Operating margin | 21.9% | 19.6% | 17.7% | 16.8% | 17.2% | 16.2% | 10.6% |
| Net margin | 14.8% | 12.8% | 9.3% | 9.8% | 14.6% | 11.6% | 7.7% |
| Jun '26 | Mar '25 | Dec '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £5.64B | £2.74B | £5.54B | £5.69B | £2.92B | £5.56B | £2.80B | £5.74B | £2.99B | £2.89B | £2.89B | £2.63B |
| Cost of revenue | £1.92B | £972.5M | £2.14B | £2.06B | £1.08B | £2.37B | £1.08B | £2.19B | £1.15B | £1.07B | £1.07B | £1.01B |
| Gross profit | £3.73B | £1.77B | £3.40B | £3.63B | £1.84B | £3.20B | £1.72B | £3.55B | £1.84B | £1.82B | £1.82B | £1.61B |
| Research & development | £148.1M | £76.5M | £154.0M | £144.0M | £71.0M | £169.0M | £75.0M | £142.0M | £75.0M | £82.0M | £82.0M | £64.0M |
| Sales, general & admin | — | — | £2.20B | £2.32B | £1.10B | £2.05B | £1.06B | £2.26B | £1.14B | £1.20B | £1.20B | £1.09B |
| Total operating expenses | £2.38B | £1.17B | £2.35B | £2.48B | £1.18B | £2.34B | £1.13B | £2.41B | £1.21B | £1.25B | £1.25B | £1.15B |
| Operating income | £1.35B | £601.5M | £1.05B | £1.15B | £655.0M | £855.0M | £584.0M | £1.14B | £627.0M | £569.0M | £569.0M | £466.0M |
| Interest income | — | — | £22.0M | £9.0M | £22.0M | — | £88.0M | £96.0M | £85.0M | £38.0M | £7.0M | £35.0M |
| Interest expense | £154.1M | £64.5M | £201.0M | £193.0M | £97.0M | £221.0M | £88.0M | £219.0M | £95.0M | £81.0M | £81.0M | £8.0M |
| Income before taxes | £1.06B | £537.5M | £914.0M | £996.0M | £590.0M | £668.0M | £496.0M | £960.0M | £542.0M | £495.0M | £495.0M | £465.0M |
| Income taxes | £288.1M | £131.0M | £193.0M | £242.0M | £149.0M | £287.0M | £122.0M | £230.0M | £127.0M | £130.0M | £130.0M | £108.0M |
| Net income | £767.6M | £403.0M | £716.0M | £726.0M | £423.0M | £362.0M | £365.0M | £687.0M | £389.0M | £345.0M | £345.0M | £343.0M |
| EBITDA | £1.52B | £667.0M | £1.26B | £1.50B | £687.0M | £1.34B | £630.2M | £1.30B | £683.2M | £620.8M | £620.8M | £517.8M |
| Gross margin | 66.0% | 64.5% | 61.4% | 63.8% | 63.0% | 57.5% | 61.3% | 61.9% | 61.6% | 62.9% | 62.9% | 61.4% |
| Operating margin | 23.8% | 22.0% | 19.0% | 20.2% | 22.4% | 15.4% | 20.9% | 19.9% | 21.0% | 19.7% | 19.7% | 17.7% |
| Net margin | 13.6% | 14.7% | 12.9% | 12.8% | 14.5% | 6.5% | 13.0% | 12.0% | 13.0% | 11.9% | 11.9% | 13.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in British pounds as reported in HLN's financial statements (latest annual report filed March 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HLN financial results
In fiscal year 2025 (ended December 31, 2025), Haleon reported revenue of £11.0 billion, down 1.8% from the year before. It had net income of £1.6 billion (up 13.1%), a net profit margin of 14.8%. Over five years revenue grew at an average rate of 2.2% a year. Figures are in British pounds, the currency of its financial statements.
See the HLN stock overview for the latest quote and news, or the HLN chart for price history and technical indicators.
HLN income statement FAQ
What is Haleon's annual revenue?
Haleon reported total revenue of £11.0 billion for fiscal year 2025, which ended on December 31, 2025. That was down 1.8% from £11.2 billion the previous year.
Is Haleon profitable?
Yes. Haleon reported net income of £1.6 billion in fiscal 2025, a net profit margin of 14.8%; its operating margin was 21.9%.
What is Haleon's gross margin?
Haleon's gross margin was 63.3% in fiscal 2025: for every $100 of revenue, Haleon kept $63 after the direct cost of its products and services.
How much does Haleon spend on research and development?
Haleon spent £308.1 million on research and development in fiscal 2025, 2.8% of revenue.
How fast is Haleon growing?
Revenue grew 2.2% a year on average over the last five fiscal years, from £9.9 billion to £11.0 billion.
When will Haleon report its next earnings?
Haleon is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Haleon's fiscal year end?
Haleon's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 13, 2026.