HLN vs RDY: Haleon and Dr. Reddy’s Laboratories Ltd ADR compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Haleon is the larger company, worth $42.1B, about 3.9 times Dr. Reddy’s Laboratories Ltd ADR.
- Dr. Reddy’s Laboratories Ltd ADR grew revenue faster over the last year (+16.6% vs -1.8%).
- Dr. Reddy’s Laboratories Ltd ADR keeps more of each dollar of revenue as operating profit (22.1% vs 21.9%).
- On earnings, Haleon is the cheaper stock (19.4x vs 25.2x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HLN | RDY |
|---|---|---|
| Market cap | $42.1B | $10.9B |
| Share price | $9.32 | $12.48 |
| Revenue (last fiscal year) | $11.0B | $325.5B |
| Free cash flow (last fiscal year) | $2.2B | $12.0B |
| Revenue growth, last year | -1.8% | +16.6% |
| Revenue growth per year, last 5 fiscal years | +3.7% | +14.5% |
| Operating margin | 21.9% | 22.1% |
| Net margin | 15.1% | 17.4% |
| Return on equity | 10.2% | 17.0% |
| P/E (trailing) | 19.4x | 25.2x |
| Price / free cash flow | 21.4x | 0.34x |
| EV / EBITDA | 12.8x | 13.9x |
| FCF growth the price implies | — | — |
| Dividend yield | 0.75% | 0.63% |
| Debt / equity | 0.98x | 0.47x |
| Fundamental grade | C | B |
| Superinvestors holding it | 8 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Haleon
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $9.5B | $1.1B | 17.2% |
| 2022 | $10.9B | $1.7B | 16.8% |
| 2023 | $11.3B | $1.8B | 17.7% |
| 2024 | $11.2B | $2.0B | 19.6% |
| 2025 | $11.0B | $2.2B | 21.9% |
Dr. Reddy’s Laboratories Ltd ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $189.7B | $23.1B | 12.8% |
| 2022 | $214.4B | $9.1B | 13.7% |
| 2023 | $245.9B | $40.0B | 23.2% |
| 2024 | $279.2B | $18.0B | 24.3% |
| 2025 | $325.5B | $12.0B | 22.1% |
Where the revenue comes from
Haleon · by products, 2025
Oral Health$3.5B31%
Pain Relief$2.6B23%
Respiratory Health$1.9B17%
Vitamins, Minerals and Supplements$1.7B15%
Digestive Health$987M9%
Therapeutic Skin Health and Other$460M4%
Dr. Reddy’s Laboratories Ltd ADR · by segments, 2026
Global Generics$299.0B89%
Pharmaceutical Services and Active Ingredients$34.8B10%
Other segment$2.1B1%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HLN in InvestinglyQuestions
Which is bigger, Haleon or Dr. Reddy’s Laboratories Ltd ADR?
Haleon (HLN), at $42.1B against $10.9B.
Is HLN or RDY cheaper?
By trailing P/E, Haleon (19.4x) is cheaper than Dr. Reddy’s Laboratories Ltd ADR (25.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, HLN or RDY?
Dr. Reddy’s Laboratories Ltd ADR: revenue grew +16.6% over the last year, against -1.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.