Halliburton Company

HAL · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$23,784	$23,886	$32,356	$35,732	$20,471	$16,918	$21,903	$23,792	$43,744	$48,417	$30,470	$33,352	$45,574	$32,123	$31,680	$37,074	$27,081	$15,944	$34,612	$31,485	$31,290	$17,148	$11,284	$8,087	$5,607	$16,027	$17,714	$13,003	$13,120	$7,870	$6,286	$3,782	$4,207	$3,134	$3,793	$5,427	$4,550	$2,889	$2,589	$2,582	$2,821
Enterprise value	$29,755	$30,082	$38,943	$42,358	$27,661	$25,200	$31,008	$32,154	$52,376	$56,831	$35,772	$38,871	$51,068	$34,484	$33,670	$38,861	$28,290	$17,451	$35,257	$30,362	$32,218	$18,403	$13,006	$8,576	$6,886	$18,461	$19,704	$14,915	$14,273	$7,903	$6,321	$4,033	$4,878	$3,570	$4,344	$5,520	$4,375	$3,088	$2,271	$2,345	$2,815
P/E (TTM) at period end	18.54×	9.55×	12.27×	22.73×	14.05×	–	–	14.37×	–	–	–	9.53×	21.45×	12.19×	11.16×	20.20×	23.65×	7.17×	9.93×	13.41×	13.27×	–	–	–	6.93×	31.99×	40.44×	–	16.99×	14.11×	34.22×	21.27×	–	–	142.60×	27.49×	34.03×	34.15×	53.83×	–	98.29×
P/S (TTM) at period end	1.07×	1.04×	1.41×	1.76×	1.34×	1.17×	0.98×	0.99×	2.12×	3.05×	1.29×	1.01×	1.55×	1.13×	1.28×	2.06×	1.85×	0.87×	2.27×	2.43×	3.10×	0.86×	0.69×	0.64×	0.43×	1.34×	1.44×	0.90×	0.81×	0.56×	1.07×	0.66×	0.66×	0.48×	0.54×	0.78×	0.80×	0.59×	0.77×	0.74×	0.59×
P/B at period end	2.27×	2.27×	3.45×	4.50×	3.05×	3.40×	2.73×	2.50×	5.26×	5.15×	1.97×	2.05×	3.36×	2.04×	2.40×	3.57×	3.10×	2.06×	5.04×	4.27×	4.91×	4.36×	4.43×	2.27×	1.18×	4.08×	4.13×	3.20×	5.08×	3.65×	3.59×	1.95×	2.23×	1.64×	1.75×	2.42×	2.15×	1.37×	1.24×	1.20×	0.99×
EV / EBITDA (TTM)	8.76×	6.14×	7.66×	11.61×	10.23×	–	26.35×	7.89×	17.88×	–	21.42×	5.38×	10.14×	5.96×	5.52×	9.41×	9.67×	3.68×	8.64×	8.15×	12.33×	13.85×	10.51×	21.82×	4.26×	19.13×	21.61×	9.65×	7.25×	5.32×	9.45×	8.12×	15.27×	16.37×	11.13×	9.43×	9.04×	–	–	–	–
EV / Sales (TTM)	1.34×	1.31×	1.69×	2.09×	1.81×	1.74×	1.38×	1.34×	2.54×	3.58×	1.51×	1.18×	1.74×	1.21×	1.36×	2.16×	1.93×	0.95×	2.31×	2.34×	3.19×	0.93×	0.80×	0.68×	0.53×	1.55×	1.60×	1.03×	0.88×	0.57×	1.07×	0.70×	0.77×	0.55×	0.62×	0.80×	0.77×	0.63×	0.67×	0.67×	0.59×
Returns
Return on equity	12.3%	23.8%	28.1%	19.8%	21.7%	(59.2%)	(14.1%)	17.4%	(5.6%)	(61.2%)	(4.3%)	21.5%	15.6%	16.7%	21.5%	17.7%	13.1%	28.8%	50.8%	31.8%	37.0%	(24.9%)	(32.2%)	(28.0%)	17.0%	12.8%	10.2%	(0.4%)	29.9%	25.8%	10.5%	9.2%	(8.5%)	(7.2%)	1.2%	8.8%	6.3%	4.0%	2.3%	(24.0%)	1.0%
Return on invested capital	10.0%	17.8%	20.2%	14.0%	12.9%	(16.8%)	(2.6%)	12.6%	–	(28.7%)	(0.6%)	17.1%	12.6%	15.5%	20.9%	15.9%	12.3%	29.8%	32.7%	37.8%	29.6%	9.9%	10.4%	(2.8%)	10.7%	4.5%	4.0%	–	23.0%	31.2%	14.8%	6.6%	(4.4%)	(5.8%)	1.0%	8.1%	6.7%	5.0%	1.0%	(29.0%)	0.6%
Dividend yield	2.4%	2.5%	1.8%	1.2%	0.8%	1.6%	2.9%	2.6%	1.4%	1.3%	2.0%	1.6%	1.0%	1.0%	1.0%	0.9%	1.2%	2.0%	0.9%	1.0%	0.8%	1.3%	1.9%	2.7%	3.8%	1.4%	1.2%	2.0%	1.0%	3.0%	1.8%	3.0%	2.7%	3.4%	2.8%	2.0%	2.3%	–	–	–	–
Financial health
Current ratio	2.04×	2.05×	2.06×	2.05×	2.31×	2.14×	2.30×	2.32×	2.22×	2.90×	3.76×	2.50×	2.73×	2.75×	2.81×	3.22×	2.99×	2.66×	3.14×	2.36×	2.11×	1.40×	1.21×	1.70×	1.92×	1.42×	1.99×	1.55×	0.86×	1.59×	1.77×	3.75×	3.16×	3.07×	3.22×	3.29×	3.99×	–	2.24×	2.26×	2.10×
Debt / equity	0.68×	0.72×	0.81×	1.00×	1.36×	1.98×	1.29×	1.09×	1.31×	1.32×	0.99×	0.48×	0.58×	0.31×	0.37×	0.37×	0.52×	0.34×	0.41×	0.38×	0.50×	1.01×	1.35×	0.43×	0.32×	0.67×	0.54×	0.48×	0.52×	0.11×	0.12×	0.35×	0.38×	0.34×	0.31×	0.09×	0.09×	0.09×	0.11×	0.13×	0.22×
Effective tax rate	27.0%	22.2%	20.8%	24.4%	(17.3%)	8.6%	(0.6%)	8.7%	165.8%	24.4%	29.3%	27.1%	23.4%	32.3%	32.3%	32.1%	30.8%	31.5%	26.2%	31.4%	(6.3%)	37.1%	38.2%	(35.1%)	40.3%	38.5%	37.8%	442.9%	38.9%	30.8%	35.6%	38.8%	14.2%	4.7%	70.6%	43.7%	45.6%	44.9%	26.0%	6.8%	79.9%
Share count
Diluted shares outstanding	853	883	902	908	892	881	875	877	870	861	853	852	902	928	922	911	902	909	955	1,054	1,038	882	874	864	860	892	886	878	514	523	496	457	528	436	532	476	424	413	418	424	410

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$22,476	$22,184	$22,944	$23,018	$20,297	$15,295	$14,445	$22,408	$23,995	$20,620	$15,887	$23,633	$32,870	$29,402	$28,503	$24,829	$17,973	$14,675	$18,279	$15,264	$12,955	$10,100	$19,884	$16,271	$12,572	$13,046	$11,944	$12,313	$14,504	$16,272	$13,947	$5,883	$5,740	$6,351	$6,525	$7,019	$6,926	$5,661	$4,897	$3,368	$3,509	$4,779
Cost of revenue	($19,111)	($18,700)	($18,643)	($18,658)	($16,984)	($13,279)	($12,900)	($20,123)	($21,009)	($4,142)	($3,770)	($5,099)	($6,479)	($5,972)	($5,322)	($4,379)	($3,508)	($3,255)	($3,970)	($3,358)	($9,426)	($7,743)	($18,752)	($15,268)	($12,379)	($11,575)	($11,218)	($11,608)	($12,522)	($13,638)	($11,839)	($5,180)	($5,046)	($5,813)	($5,986)	($6,293)	($6,057)	($4,936)	–	($2,957)	($3,637)	($4,140)
Gross profit	$3,365	$3,484	$4,301	$4,360	$3,313	$2,016	$1,545	$2,285	$2,986	$16,478	$12,117	$18,534	$26,391	$23,430	$23,181	$20,450	$14,465	$11,420	$14,309	$11,906	$3,529	$2,357	$1,132	$1,003	$193	$1,471	$726	$705	$1,982	$2,634	$2,108	$703	$694	$538	$540	$726	$869	$725	–	$411	($127)	$638
Operating expenses
Research and development	–	($411)	($426)	($408)	($345)	($321)	($309)	($404)	($390)	($360)	($329)	($487)	($601)	($588)	($460)	($401)	($366)	($325)	($326)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($271)	($239)	($239)	($226)	($240)	($204)	($182)	($227)	($254)	($256)	($226)	($200)	($293)	($333)	($275)	($281)	($229)	($207)	($282)	($293)	($342)	($294)	($361)	($330)	($335)	($387)	($352)	($351)	($437)	($665)	($621)	($34)	($198)	($218)	($322)	($336)	($283)	($241)	–	($174)	($187)	($206)
Total operating expenses	($538)	($1,224)	($479)	($277)	($606)	($216)	($3,981)	($2,733)	($519)	($15,104)	($18,887)	($18,699)	($21,294)	($20,292)	($19,022)	($15,713)	($11,456)	($9,426)	($10,299)	($8,408)	($284)	($193)	($312)	($283)	($305)	($387)	($264)	($304)	($937)	($1,229)	($1,119)	($293)	($459)	($670)	($682)	($630)	($533)	($486)	–	($388)	($467)	($549)
Total costs and expenses	($19,649)	($19,924)	($19,122)	($18,935)	($17,590)	($13,495)	($16,881)	($22,856)	($21,528)	($19,246)	($22,657)	($23,798)	($27,773)	($26,264)	($24,344)	($20,092)	($14,964)	($12,681)	($14,269)	($11,766)	($9,710)	($7,936)	($19,064)	($15,551)	($12,684)	($11,962)	($11,482)	($11,912)	($13,459)	($14,867)	($12,958)	($5,474)	($5,506)	($6,483)	($6,667)	($6,923)	($6,590)	($5,422)	($4,686)	($3,345)	($4,104)	($4,690)
Operating income	$2,827	$2,260	$3,822	$4,083	$2,707	$1,800	($2,436)	($448)	$2,467	$1,374	($6,770)	($165)	$5,097	$3,138	$4,159	$4,737	$3,009	$1,994	$4,010	$3,498	$3,245	$2,164	$820	$720	($112)	$1,084	$462	$401	$1,045	$1,405	$989	$409	$235	($133)	($142)	$96	$336	$239	$211	$23	($595)	$89
Earnings
EBITDA	$4,004	$3,396	$4,901	$5,081	$3,647	$2,704	($1,378)	$1,177	$4,073	$2,930	($5,267)	$1,670	$7,223	$5,038	$5,787	$6,096	$4,128	$2,925	$4,748	$4,081	$3,725	$2,612	$1,329	$1,238	$393	$1,615	$965	$912	$1,545	$1,969	$1,487	$669	$497	$319	$218	$390	$585	$484	–	–	–	–
Interest income	–	$88	$97	$81	$29	$9	$38	$23	$44	$112	$59	$16	$13	$8	$7	$5	$11	$12	$39	$124	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($335)	($352)	($353)	($395)	($463)	($520)	($505)	($569)	($554)	($593)	($639)	($447)	($383)	($331)	($298)	($263)	($297)	($297)	($167)	($168)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$2,381	$1,771	$3,234	$3,363	$2,110	$1,252	($3,220)	($1,122)	$1,814	$682	($7,625)	($936)	$4,712	$2,764	$3,822	$4,449	$2,655	$1,682	$3,849	$3,460	$3,199	$1,997	$634	$612	($228)	$954	$335	$307	$35	$1,264	$806	$387	$291	($188)	($130)	$90	$351	$246	$153	$65	($553)	$142
Income tax expense	($371)	($479)	($718)	($701)	($515)	$216	$278	($7)	($157)	($1,131)	$1,858	$274	($1,275)	($648)	($1,235)	($1,439)	($853)	($518)	($1,211)	($907)	($1,003)	$125	($235)	($234)	($80)	($384)	($129)	($116)	($155)	($492)	($248)	($138)	($113)	$27	$6	($64)	($154)	($112)	($69)	($17)	$37	($114)
Net income	$2,001	$1,283	$2,501	$2,638	$1,572	$1,457	($2,945)	($1,131)	$1,656	($463)	($5,763)	($671)	$3,500	$2,125	$2,635	$2,839	$1,835	$1,145	$2,224	$3,486	$2,348	$2,358	($979)	($820)	($998)	$809	$501	$438	($15)	$772	$558	$184	$178	($161)	($137)	$27	$197	$134	$85	$48	($515)	$29
Per share
Diluted EPS (GAAP)	$2.39	$1.50	$2.83	$2.92	$1.73	$1.63	($3.34)	($1.29)	$1.89	($0.53)	($6.69)	($0.79)	$4.11	$2.36	$2.84	$3.08	$2.01	$1.27	$2.45	$3.65	$2.23	$2.27	($1.11)	($0.94)	($1.16)	$0.94	$0.56	$0.49	($0.0167)	$0.88	$0.57	$0.34	$0.39	($0.31)	($0.31)	$0.05	$0.41	$0.32	$0.20	$0.11	($1.21)	$0.07
Basic EPS (GAAP)	$2.39	$1.50	$2.84	$2.93	$1.74	$1.63	($3.34)	($1.29)	$1.89	($0.53)	($6.69)	($0.79)	$4.13	$2.37	$2.85	$3.09	$2.02	$1.27	$2.52	$3.79	$2.32	$2.33	($1.12)	($0.94)	($1.16)	$0.95	$0.57	$0.50	($0.0167)	$0.90	$0.57	$0.34	$0.39	($0.31)	($0.31)	$0.05	$0.41	$0.32	$0.20	$0.11	($1.21)	$0.07
Basic shares outstanding	836	853	882	899	904	892	881	875	875	870	861	853	848	898	926	918	908	900	883	919	1,014	1,010	874	868	864	856	884	880	878	506	523	496	457	528	436	532	476	424	413	418	424	410
Margins
Gross margin	15.0%	15.7%	18.7%	18.9%	16.3%	13.2%	10.7%	10.2%	12.4%	79.9%	76.3%	78.4%	80.3%	79.7%	81.3%	82.4%	80.5%	77.8%	78.3%	78.0%	27.2%	23.3%	5.7%	6.2%	1.5%	11.3%	6.1%	5.7%	13.7%	16.2%	15.1%	11.9%	12.1%	8.5%	8.3%	10.3%	12.5%	12.8%	–	12.2%	(3.6%)	13.4%
Operating margin	12.6%	10.2%	16.7%	17.7%	13.3%	11.8%	(16.9%)	(2.0%)	10.3%	6.7%	(42.6%)	(0.7%)	15.5%	10.7%	14.6%	19.1%	16.7%	13.6%	21.9%	22.9%	25.0%	21.4%	4.1%	4.4%	(0.9%)	8.3%	3.9%	3.3%	7.2%	8.6%	7.1%	7.0%	4.1%	(2.1%)	(2.2%)	1.4%	4.8%	4.2%	4.3%	0.7%	(16.9%)	1.9%
Net margin	8.9%	5.8%	10.9%	11.5%	7.7%	9.5%	(20.4%)	(5.0%)	6.9%	(2.2%)	(36.3%)	(2.8%)	10.6%	7.2%	9.2%	11.4%	10.2%	7.8%	12.2%	22.8%	18.1%	23.3%	(4.9%)	(5.0%)	(7.9%)	6.2%	4.2%	3.6%	(0.1%)	4.7%	4.0%	3.1%	3.1%	(2.5%)	(2.1%)	0.4%	2.9%	2.4%	1.7%	1.4%	(14.7%)	0.6%

Analyst consensus

Buy64 analysts

Bearish · 2 · Hold · 15 · Bullish · 47

Earnings history

	EPS	Estimate
Q4 2024	$0.70	$0.73	Miss
Q1 2025	$0.60	$0.60	Match
Q2 2025	$0.55	$0.55	Match
Q3 2025	$0.58	$0.50	Beat
Q4 2025	$0.69	$0.55	Beat
Q1 2026	$0.55	$0.50	Beat
Q2 2026	$0.55	$0.54	Beat
Q3 2026	$0.60	$0.58	Beat

Peers

Company overview

IPO dateJun 1, 1972

CEOJeffrey Allen Miller

Employees46,000

SectorEnergy

IndustryOil & Gas Equipment & Services

CountryUS

ExchangeNew York Stock Exchange

Websitewww.halliburton.com

Halliburton Company (HAL) is a global supplier of products and services tailored for the energy sector. Its operations are structured into two primary divisions: Completion and Production, and Drilling and Evaluation. The Completion and Production segment focuses on enhancing well output through techniques like stimulation and sand control. It provides cementing services for well integrity, including casing and bonding, alongside a range of specialized downhole completion tools such as intelligent well systems, liner hangers, and multilateral solutions. This segment also supports production with offerings like coiled tubing, hydraulic workover units, pumping, and nitrogen services, in addition to managing pipeline and process services from initial setup (pre-commissioning, commissioning) through ongoing maintenance and eventual retirement (decommissioning). Furthermore, it supplies electrical submersible pumps and delivers artificial lift solutions. The Drilling and Evaluation segment offers a comprehensive suite of drilling fluids, including systems, performance additives, completion fluids, solids control, specialized testing equipment, and waste management services. It also provides chemicals and associated services for oilfield completion, production, and downstream water and process treatment. This division includes advanced drilling systems, wireline and perforating services encompassing open-hole logging and cased-hole slickline operations, and a variety of drill bits (e.g., roller cone, fixed cutter), hole enlargement tools, and coring services. Moreover, it leverages cloud-based digital services and artificial intelligence on an open architecture to deliver subsurface insights, streamline well construction, and optimize reservoir and production management. Specialized testing and subsea services are also offered for reservoir information analysis and optimization strategies, alongside project management and integrated asset management services. Founded in 1919, Halliburton Company maintains its headquarters in Houston, Texas.

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