— Know what they know.
/
Not Investment Advice

HAL

NYSE · USD
Halliburton Company
Energy · Oil & Gas Equipment & Services
CEO Jeffrey Allen Miller Employees 46,000 R&D / revenue 0.0%
Last price
$33.50+1.85%last session
Market cap
$27.9B
P/E (TTM)
17.5x
From 52w high
−23.1%
From 52w low
+55.7%
1-year return
+54.6%
RSI 14 · vs SMA200
53.3 · −6.0%
IS score
51.2/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

HAL   SPY   XLE (sector ETF) · weekly closes
100120140160180200Jan 26Apr 26Jul 26Oct 26XLE 160HAL 155SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
38
Profitability
30
Growth
66
Value
62
Momentum
80
Risk (safety)
69
Quality
68
Balance sheet
67
Earnings quality

Flags

Strengths
✓ FCF yield 5%+
Warnings
None of the computed warning flags fires for HAL (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Weak, Efficient ScalePiotroski 6 / 9Altman Z 3.5Beta 0.772 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
11 open-market sales, $18.2M
Form 144 notices (12m): 21, $43.3M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+8
151 new holders, 129 closed
1,211 filers hold 88.7% · 493 added, 383 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+230
1,033 funds adding shares
803 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
55.7%
20-day avg 39.2%, 50-day avg 38.4%
Latest 16.5 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$22.2B
Revenue growth YoY−3.3%
Gross margin15.8%
Operating income$2.7B
Operating margin12.0%
Net income$1.3B
Net margin5.8%
EPS (diluted)$1.50
Cash flow
Operating cash flow$2.9B
Capital expenditure$1.3B
Free cash flow$1.7B
FCF conversion (FCF / OCF)57.1%
Stock-based compensation$0
FCF less SBC$1.7B
Buybacks$1.0B
Dividends$579.0M
Balance sheet & returns
Cash & short-term investments$2.2B
Total debt$7.2B
Net debt$5.0B
Shareholders' equity$10.5B
Goodwill & intangibles$2.9B
Debt / equity0.74
ROE (TTM)15.1%
ROIC (TTM)9.7%
Operating margin by fiscal year
11.8%FY202113.3%FY202217.7%FY202316.7%FY202412.0%FY2025
Revenue $15.3B (FY2021) to $22.2B (FY2025), a 9.7% CAGR.

Valuation

P/E (TTM)17.5x
EV / EBITDA8.2x
Price / sales1.25x
Price / FCF16.2x
FCF yield6.18%
Buyback yield3.61%
SBC / revenue0.0%
Price / book2.54x
Forward P/E FY202614.3x
Forward P/E FY202711.6x
Forward P/E FY20289.8x
Forward multiples divide today's price by Street EPS estimates. Street mean target $42.33 across 6 analysts last quarter is theirs, not ours.

HAL vs industry median

135 companies in Oil & Gas Equipment & Services
Gross margin 15.1% 23.5% Operating margin 11.4% 8.0% Net margin 7.2% 4.6% ROIC 9.7% 5.5%
HAL (TTM)Industry median Asset turnover 0.87 vs industry 0.73 · financial leverage 2.35

Earnings delivery

Next report 2026-10-20 · consensus EPS $0.58
58%
beat rate, 7 of 12 quarters
+2.6%
median EPS surprise
4
longest beat streak
+3+3+7+3+0-3-4-0-0+16+25+10
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-07-19 to 2026-04-21. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
HAL Halliburton Company $27.9B17.5x15.1%7.2%−3.3% +54.6%
FTI TechnipFMC plc $27.3B23.8x36.0%13.1%+9.5% +95.4%
TS Tenaris S.A. $31.9B15.8x11.4%16.1%+2.3% +75.4%
BKR Baker Hughes Company $55.3B17.7x16.5%10.1%+0.4% +25.4%
SLB Slb N.V. $73.5B23.8x13.3%8.8%+2.5% +51.5%
NOV NOV Inc. $6.7B72.8x1.5%5.2%−1.7% —
WFRD Weatherford International pl $5.4B14.9x22.2%3.5%−7.2% —
AROC Archrock, Inc. $5.2B15.9x22.2%18.0%+11.5% —
12-month window: SPY +15.9%, sector ETF XLE +60.0%. Past returns describe history only.

Recent 8-K filings

2026-10-15Officer/Director Change; Regulation FD; Exhibits
2026-09-16Other Events
2026-07-21Earnings Release; Regulation FD; Exhibits
2026-06-29Other Events
2026-05-20Shareholder Vote
2026-04-21Earnings Release; Regulation FD; Exhibits

Context

Shares outstanding833,130,399
Free float99.6%
Institutional ownership88.7%
Beta0.77
Dividend yield2.03%
Last dividend$0.17 on 2026-09-02
50 / 200-day average$34.09 / $35.64
Large-cap Energy median P/E17.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where HAL sits among 33 scored companies in Oil & Gas Equipment & Services (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureHALIndustry medianIndustry percentileSector median
P/E (TTM) 17.4x 23.6x
22nd		 16.6x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 1.2x 1.2x
50th		 1.8x
Price / book 2.5x 1.9x
59th		 1.9x
Price / tangible book 3.6x 3.6x
50th		 1.9x
Price / free cash flow 16.2x 16.0x
52nd		 11.9x
Price / operating cash flow 10.1x 9.5x
58th		 6.9x
Enterprise value $34.1B $2.7B
94th		 $5.3B
EV / sales 1.5x 1.6x
47th		 2.4x
EV / EBITDA 9.1x 9.6x
39th		 9.0x
EV / EBIT 13.3x 16.8x
18th		 14.1x
EV / free cash flow 19.7x 17.2x
67th		 14.6x
Earnings yield 5.7% 3.1%
81st		 4.6%
FCF yield 6.2% 5.4%
66th		 5.8%
Operating cash flow yield 9.9% 10.3%
44th		 13.6%
Graham number (per share) $23.77 $15.97
70th		 $32.92

Profitability (TTM)

MeasureHALIndustry medianIndustry percentileSector median
Gross margin 15.1% 23.0%
28th		 31.9%
EBITDA margin 16.7% 16.7%
47th		 26.7%
Operating margin 13.2% 11.4%
66th		 15.2%
EBIT margin 11.5% 10.1%
56th		 13.3%
Net margin 7.2% 5.8%
66th		 8.0%
NOPAT margin 10.2% 10.0%
53rd		 12.4%
FCF margin 7.7% 6.4%
56th		 7.8%
Operating cash flow margin 12.3% 15.0%
44th		 21.8%
R&D / revenue 1.8% 0.0%
94th		 0.0%
SG&A / revenue 1.2% 10.0%
3rd		 6.7%
Stock comp / revenue 0.0% 1.0%
0th		 0.7%
Effective tax rate 22.8% 21.2%
58th		 21.0%

Returns on capital

MeasureHALIndustry medianIndustry percentileSector median
ROE (on average equity) 14.9% 6.9%
75th		 12.2%
ROA 6.3% 3.3%
75th		 4.8%
ROIC 13.3% 7.8%
72nd		 9.9%
ROCE 12.9% 7.7%
84th		 9.8%
Return on tangible assets 10.0% 7.0%
75th		 8.3%
Cash ROIC (OCF / invested capital) 16.0% 17.3%
44th		 18.4%
Gross profitability (GP / assets) 13.1% 14.4%
47th		 14.8%
ROIC, 3-yr average 11.0% 5.4%
68th		 7.0%
ROIC, 5-yr average 12.4% 5.9%
81st		 10.1%
ROE, 5-yr average 21.5% 8.7%
100th		 14.8%
Incremental ROIC 587.8% 6.4%
100th		 14.8%

Growth

MeasureHALIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 0.6% 3.2%
39th		 10.2%
Revenue growth (QoQ) 5.8% 8.2%
41st		 13.0%
Revenue CAGR, 3 yr -0.1% 5.1%
31st		 2.0%
Revenue CAGR, 5 yr 10.8% 19.7%
27th		 13.7%
Gross profit CAGR, 3 yr -5.8% 7.2%
29th		 1.7%
Operating income CAGR, 3 yr -8.2% 7.0%
17th		 -2.0%
Net income growth (TTM YoY) -14.0% -12.5%
46th		 23.5%
Net income CAGR, 3 yr -13.3% -10.6%
47th		 -7.8%
EPS growth (TTM YoY) -11.5% -11.5%
50th		 19.9%
EPS CAGR, 3 yr -11.1% -10.3%
47th		 -9.8%
EPS CAGR, 5 yr 63.6% 23.1%
100th		 20.5%
FCF growth (TTM YoY) -19.7% 5.4%
29th		 19.9%
FCF CAGR, 3 yr -3.5% 9.6%
33rd		 -3.4%
Operating cash flow CAGR, 3 yr -3.8% 15.2%
27th		 3.2%
Book value CAGR, 3 yr 10.9% 7.6%
69th		 5.6%
Dividend CAGR, 3 yr 1.5% 1.4%
53rd		 -0.1%
Sustainable growth rate 9.6% 5.8%
74th		 9.4%

Margin history & stability

MeasureHALIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 17.1% 22.0%
28th		 31.0%
Operating margin, 3-yr average 14.8% 9.3%
69th		 15.4%
Net margin, 3-yr average 9.0% 6.0%
76th		 8.7%
FCF margin, 3-yr average 9.2% 6.0%
72nd		 7.2%
Revenue stability (0-1) 0.63 0.81
28th		 0.64
Earnings stability (0-1) 0.27 0.40
31st		 0.22
Margin stability (0-1) 0.83 0.61
79th		 0.73

Liquidity (latest quarter)

MeasureHALIndustry medianIndustry percentileSector median
Cash & short-term investments $2.0B $175.0M
91st		 $248.6M
Net cash (− = net debt) −$6.2B −$193.8M
3rd		 −$1.1B
Working capital $6.0B $420.6M
91st		 $205.0M
Current ratio 2.02 2.12
41st		 1.41
Quick ratio 1.50 1.58
41st		 1.13
Cash ratio (cash + ST investments / current liabilities) 0.35 0.38
47th		 0.36
Defensive interval (days) 6,187 days 1,011 days
100th		 768 days

Leverage & solvency (latest quarter)

MeasureHALIndustry medianIndustry percentileSector median
Total debt $8.2B $597.0M
94th		 $1.3B
Debt / equity 0.74 0.55
59th		 0.61
Net debt / equity 0.56 0.25
72nd		 0.45
Debt / assets 31.7% 27.6%
69th		 28.7%
Debt / capital 42.7% 35.4%
59th		 37.9%
Debt / EBITDA 2.19 1.93
55th		 1.98
Net debt / EBITDA 1.65 1.01
68th		 1.43
Interest coverage (EBIT / interest) 8.1x 4.7x
71st		 4.1x
Cash interest coverage 8.6x 9.7x
45th		 6.7x
Debt payback (years of OCF) 3.0 yrs 2.4 yrs
58th		 2.3 yrs
Liabilities / assets 57.2% 53.5%
69th		 54.6%
IS credit model rating A+ — —
Implied credit spread (bps) 125 175
22nd		 275

Efficiency

MeasureHALIndustry medianIndustry percentileSector median
Asset turnover 0.87 0.71
69th		 0.49
Fixed asset turnover 3.61 2.69
75th		 0.94
Inventory turnover 6.2 6.4
48th		 11.7
Receivables turnover 4.3 5.3
28th		 7.8
Days sales outstanding 84 days 69 days
72nd		 46 days
Days inventory outstanding 59 days 57 days
52nd		 31 days
Days payables outstanding 64 days 42 days
66th		 41 days
Cash conversion cycle (days) 79 days 73 days
59th		 18 days
Capex / revenue 4.6% 6.1%
41st		 11.9%
Capex / depreciation 0.88 0.89
47th		 1.04
Operating expense ratio 0.5% 12.7%
3rd		 16.5%

Cash flow & earnings quality

MeasureHALIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.72 3.46
30th		 2.02
FCF / net income 1.08 1.03
56th		 0.96
FCF / operating cash flow 62.7% 45.3%
61st		 48.4%
Capex / operating cash flow 37.3% 54.7%
39th		 51.6%
Accruals ratio -4.5% -7.7%
78th		 -7.7%
Sloan accruals ratio -3.9% -4.0%
53rd		 -4.7%
Earnings quality score (0-1) 1.00 0.75
81st		 0.75

Dividends & buybacks

MeasureHALIndustry medianIndustry percentileSector median
Dividend yield 2.0% 0.8%
75th		 1.7%
Dividend per share (TTM) $0.68 $0.20
81st		 $0.66
Payout ratio (dividends / net income) 35.7% 32.5%
52nd		 29.4%
Dividends / FCF 33.2% 14.7%
80th		 28.1%
Dividend growth (YoY) -0.3% 3.2%
37th		 0.5%
Buyback yield 2.9% 0.4%
81st		 0.2%
Shareholder yield (dividends + buybacks) 4.9% 2.1%
88th		 3.2%
Share count change (YoY) -2.8% 0.6%
19th		 0.2%
Buybacks, last 5 years $4.0B $66.3M
91st		 $38.8M

Scores & forensic checks

MeasureHALIndustry medianIndustry percentileSector median
IS score 51 45
69th		 51
IS profitability 38 31
59th		 50
IS growth 30 37
39th		 61
IS value 66 50
84th		 57
IS momentum 62 65
45th		 77
IS risk (safety) 80 65
62nd		 50
IS quality 69 67
72nd		 68
IS balance sheet 68 67
56th		 55
IS earnings quality 67 61
72nd		 65
IS cash flow 47 42
53rd		 50
Piotroski F-score (0-9) 6 6
47th		 6
Altman Z-score 3.5 2.5
78th		 2.0
Beneish M-score −2.62 −2.62
52nd		 −2.62
Ohlson O-score −8.37 −7.81
34th		 −7.87
IS credit score 76 69
72nd		 58

Per share

MeasureHALIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $1.91 $0.83
75th		 $1.88
Book value per share $13.14 $11.71
56th		 $14.22
Tangible book per share $9.61 $10.62
47th		 $12.86
Revenue per share $26.70 $15.68
81st		 $19.06
FCF per share $2.06 $0.98
66th		 $2.05
Operating cash flow per share $3.28 $3.28
50th		 $4.95
Cash per share $2.44 $1.70
56th		 $1.70

Size (TTM)

MeasureHALIndustry medianIndustry percentileSector median
Market cap $27.9B $2.0B
91st		 $4.1B
Revenue $22.4B $1.4B
94th		 $2.0B
EBITDA $3.7B $286.0M
94th		 $606.3M
Net income $1.6B $61.6M
91st		 $134.0M
Free cash flow $1.7B $53.8M
94th		 $199.4M
Total assets $25.8B $2.5B
94th		 $4.4B
Shareholders' equity $11.0B $1.1B
91st		 $1.8B
Employees 46,000 2,893
94th		 1,717

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Smith Maurice S
Director
 Award / grant 1,162——16,010
2026-08-31Carre Eric
EVP & Chief Financial Officer
 Open-market sale 24,777$37.50$929,138124,105
2026-08-19Slocum Jeffrey Shannon
Director, Director, EVP and COO
 Open-market sale 52,572$35.09$1.8M118,730
2026-08-18Slocum Jeffrey Shannon
Director, Director, EVP and COO
 Open-market sale 16,121$35.08$565,573171,302
2026-08-18Miller Jeffrey Allen
Director, Director, President & CEO
 Open-market sale 124,483$35.00$4.4M889,389
2026-06-30Smith Maurice S
Director
 Award / grant 1,080——14,848
2026-06-18Carre Eric
EVP & Chief Financial Officer
 Open-market sale 24,778$35.89$889,282148,520
2026-05-15Beckwith Van H.
EVP, Secretary and CLO
 Open-market sale 198,349$41.29$8.2M146,186
2026-05-05Maxwell Michael Casey
President - Western Hemisphere
 Open-market sale 13,566$41.84$567,601100,545
2026-05-05Maxwell Michael Casey
President - Western Hemisphere
 Open-market sale 6,782$42.00$284,84493,763
2026-04-30Young Tobi M.
Director
 Open-market sale 5,625$41.72$234,67515,750
2026-04-30Young Tobi M.
Director
 Open-market sale 500$41.73$20,86215,250

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired22,242—
Open-market saleDisposed11476,208$18.2M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 21 notices · 1,211,378 shares · $43.3M
FiledFilerShares proposedEst. proceeds
2026-08-31Carre Eric24,777$929,138
2026-08-19Slocum Jeffrey Shannon52,572$1.8M
2026-08-18Miller Jeffrey Allen124,483$4.4M
2026-06-18Carre Eric24,778$889,282
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 9 trades (3 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-01-09Gilbert CisnerosHouseSale$1,001 - $15,0002026-02-16
2026-01-09Gilbert CisnerosHouseSale (Full)$1,001 - $15,0002026-02-13
2026-01-08Gilbert Ray CisnerosHouseSale (Full)$1,001 - $15,0002026-02-13
2025-12-19Gilbert CisnerosHouseSale$1,001 - $15,0002026-01-13
2023-12-14Jerry MoranSenateSale (Full)$15,001 - $50,0002024-01-17
2023-12-14Jerry MoranSenateSale (Full)$15,001 - $50,0002024-01-16
2020-11-20Thomas R. CarperSenateSale (Full)$1,001 - $15,0002021-05-17
2020-11-20Thomas R. CarperSenateSale (Full)$1,001 - $15,0002021-05-16
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.82,837,333$2.8B9.94%
STATE STREET CORP56,870,444$1.9B6.83%
VANGUARD CAPITAL MANAGEMENT LLC51,872,053$1.8B6.23%
VANGUARD PORTFOLIO MANAGEMENT LLC40,080,854$1.4B4.81%
GEODE CAPITAL MANAGEMENT, LLC22,485,453$760.4M2.70%
Qube Research & Technologies Ltd11,127,397$377.8M1.34%
GOLDMAN SACHS GROUP INC10,620,902$360.6M1.27%
CITIGROUP INC10,498,175$356.4M1.26%
BARROW HANLEY MEWHINNEY & STRAUSS LLC10,189,728$345.9M1.22%
DIMENSIONAL FUND ADVISORS LP10,177,404$345.5M1.22%
FMR LLC10,135,399$344.1M1.22%
Bank of New York Mellon Corp9,811,005$333.1M1.18%
VICTORY CAPITAL MANAGEMENT INC9,680,712$328.7M1.16%
Invesco Ltd.9,228,738$313.3M1.11%
Capital Research Global Investors8,651,999$293.7M1.04%

Institutional ownership by quarter

2023-092026-0688.7%
% of shares held by 13F filers
2023-092026-061,211
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,21188.7%151493383129
2026-03-311,20386.4%28745828482
2025-12-311,01587.3%19836030986
2025-09-3092188.9%140314319112
2025-06-3090888.6%93383290131
2025-03-3195986.2%11336034697
2024-12-3196288.2%14830936996
2024-09-3092988.8%94361331137
2024-06-3098093.1%102420301110
2024-03-3199691.8%9538535194
2023-12-311,00990.8%15335435291
2023-09-3096190.6%12731236569

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-07-06SCHEDULE 13G/ACapital Research Global Investors1.0%8,651,999
2026-04-30SCHEDULE 13GVanguard Capital Management7.2%60,093,735
2026-04-06SCHEDULE 13G/ACapital Research Global Investors6.7%56,355,626
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.03%$756.8M
VSMPX0.03%$756.8M
VTI0.03%$756.8M
VTSAX0.03%$756.8M
VFIAX0.04%$695.8M
VFINX0.04%$695.8M

Share structure

Shares outstanding833,130,399
Float829,675,843
Free float99.6%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$15.3B$20.3B$23.0B$22.9B$22.2B
Cost of revenue$13.3B$17.0B$18.7B$18.6B$18.7B
Gross profit$2.0B$3.3B$4.4B$4.3B$3.5B
R&D$0$0$0$0$0
SG&A$204.0M$240.0M$226.0M$239.0M$246.0M
Operating income$1.8B$2.7B$4.1B$3.8B$2.7B
EBITDA$2.7B$3.5B$4.9B$4.8B$3.0B
Pretax income$1.3B$2.1B$3.4B$3.2B$1.8B
Income tax−$216.0M$515.0M$701.0M$718.0M$479.0M
Net income$1.5B$1.6B$2.6B$2.5B$1.3B
EPS, diluted$1.63$1.73$2.92$2.83$1.50
Diluted shares892.0M908.0M902.0M883.0M840.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$3.0B$2.3B$2.3B$2.6B$2.2B
Receivables$3.7B$4.6B$4.9B$5.1B$4.9B
Inventory$2.4B$2.9B$3.2B$3.0B$3.0B
Total current assets$9.9B$11.0B$11.5B$12.4B$11.4B
PP&E, net$5.3B$5.3B$6.0B$6.1B$5.3B
Goodwill & intangibles$2.8B$2.8B$2.9B$2.8B$2.9B
Total assets$22.3B$23.3B$24.7B$25.6B$25.0B
Accounts payable$2.4B$3.1B$3.1B$3.2B$3.1B
Total current liabilities$4.3B$5.3B$5.6B$6.0B$5.6B
Long-term debt$9.1B$7.9B$7.6B$7.2B$7.2B
Total liabilities$15.6B$15.3B$15.2B$15.0B$14.5B
Shareholders' equity$6.7B$8.0B$9.4B$10.5B$10.5B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$1.5B$1.6B$2.7B$2.5B$1.3B
Depreciation & amortization$904.0M$940.0M$998.0M$1.1B$1.1B
Stock-based compensation$0$0$0$0$0
Change in working capital$285.0M−$941.0M−$511.0M−$103.0M−$276.0M
Operating cash flow$1.9B$2.2B$3.5B$3.9B$2.9B
Capital expenditure−$799.0M−$1.0B−$1.4B−$1.4B−$1.3B
Free cash flow$1.1B$1.2B$2.1B$2.4B$1.7B
Investing cash flow−$534.0M−$967.0M−$1.7B−$1.7B−$1.3B
Net debt issued / repaid−$700.0M−$1.2B−$305.0M−$100.0M−$389.0M
Buybacks$0−$250.0M−$800.0M−$1.0B−$1.0B
Dividends paid−$161.0M−$435.0M−$576.0M−$600.0M−$579.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin13.2%16.3%18.9%18.7%15.7%
Operating margin11.8%13.3%17.7%16.7%12.0%
Net margin9.5%7.7%11.5%10.9%5.8%
FCF margin7.3%6.1%9.0%10.6%7.5%
ROE24.9%21.4%30.4%25.1%12.2%
ROIC15.2%14.1%20.3%17.8%11.8%
ROA6.8%6.9%11.0%10.0%5.1%
Debt / equity1.521.130.940.830.78
Interest coverage3.4x5.3x5.9x8.2x6.5x
Current ratio2.312.052.062.052.04
Revenue growth+5.9%+32.7%+13.4%−0.3%−3.3%
EPS growth+148.9%+6.2%+70.2%−3.7%−46.1%
P/E at year end13.0x21.3x11.7x9.3x18.5x
EV / EBITDA at year end9.7x11.3x7.6x6.2x8.7x
FCF yield at year end5.89%3.68%6.74%10.39%7.04%
Dividend payout11.1%27.7%21.8%24.0%45.1%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Completion And Production$8.4B$11.6B$13.7B$13.3B$12.8B
Drilling And Evaluation$6.9B$8.7B$9.3B$9.7B$9.4B

Revenue by region · FY2025

North America$9.1B · 41%
Middle East/Asia$5.8B · 26%
Latin America$3.9B · 18%
Europe/Africa/CIS$3.4B · 15%

Street estimates by fiscal year

Next report 2026-10-20 · consensus EPS $0.58 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$22.3B$22.2B – $22.7B$2.34$2.27 – $2.521514.3x
2027$23.6B$23.2B – $23.8B$2.88$2.65 – $3.011611.6x
2028$24.6B$22.6B – $26.1B$3.41$3.03 – $3.92109.8x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-04-21$0.50$0.55+10.3%$5.3B$5.4B+1.8%
2026-01-21$0.55$0.69+25.2%$5.4B$5.7B+4.6%
2025-10-21$0.50$0.58+16.3%$5.4B$5.6B+3.9%
2025-07-22$0.55$0.55−0.4%$5.4B$5.5B+1.9%
2025-04-22$0.60$0.60−0.3%$5.3B$5.4B+2.7%
2025-01-22$0.73$0.70−4.1%$5.6B$5.6B−0.4%
2024-11-07$0.75$0.73−2.7%$5.8B$5.7B−2.2%
2024-07-19$0.80$0.800.0%$5.9B$5.8B−1.9%
2024-04-23$0.74$0.76+2.7%$5.7B$5.8B+2.4%
2024-01-23$0.80$0.86+7.5%$5.8B$5.7B−0.7%
2023-10-24$0.77$0.79+2.6%$5.9B$5.8B−1.0%
2023-07-19$0.75$0.77+2.7%$5.9B$5.8B−1.6%
2023-04-25$0.67$0.72+7.5%$5.5B$5.7B+3.3%
2023-01-24$0.67$0.72+7.5%$5.6B$5.6B−0.0%
2022-10-25$0.56$0.60+7.1%$5.3B$5.4B+0.3%
2022-07-19$0.45$0.49+8.9%$4.7B$5.1B+7.8%
2022-04-19$0.34$0.35+2.9%$4.2B$4.3B+1.9%
2022-01-24$0.34$0.36+5.9%$4.1B$4.3B+4.9%
2021-10-19$0.28$0.280.0%$3.9B$3.9B−1.2%
2021-07-20$0.23$0.26+13.0%$3.9B$3.7B−5.9%
2021-04-21$0.17$0.19+11.8%$3.0B$3.5B+13.3%
2021-01-19$0.15$0.18+20.0%$2.6B$3.2B+25.0%
2020-10-19$0.08$0.11+37.5%$1.5B$3.0B+97.8%
2020-07-20$-0.11$0.05+145.5%$7.0B$3.2B−54.5%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.406-150.606-220.306-290.407-060.307-130.907-200.407-270.308-030.308-100.308-170.408-240.408-31
Week ofNotionalSharesTrades
2026-08-31$423.2M11,382,868137,538
2026-08-24$406.5M11,696,654137,967
2026-08-17$320.6M9,119,567118,848
2026-08-10$333.8M9,928,498136,096
2026-08-03$279.3M8,697,635118,199
2026-07-27$379.9M11,944,935148,740

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1555.7%
DateShort shareShort volumeTotal volume
2026-10-1555.7%1,848,8153,320,021
2026-10-1436.9%1,110,0233,008,594
2026-10-1337.9%745,0641,967,324
2026-10-1223.5%344,8131,468,044
2026-10-0924.0%383,7921,598,265
2026-10-0837.6%916,5532,435,108
2026-10-0737.0%1,105,8732,987,132
2026-10-0649.7%1,283,4642,582,273
2026-10-0546.0%1,115,2922,426,170
2026-10-0253.9%1,092,8142,029,233
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+2.0Jan+1.3Feb-2.2Mar+5.4Apr-0.5May+0.2Jun+1.9Jul-2.2Aug-1.6Sep+3.2Oct+1.7Nov+1.4Dec
MonthAvg returnUp yearsYears
Jan+2.0%50%20
Feb+1.3%55%20
Mar−2.2%57%21
Apr+5.4%55%20
May−0.5%50%20
Jun+0.2%45%20
Jul+1.9%60%20
Aug−2.2%30%20
Sep−1.6%55%20
Oct+3.2%60%20
Nov+1.7%55%20
Dec+1.4%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1453.3
MFI57.6
ADX22.9
Stochastic %K / %D86.1 / 78.8
Williams %R-7.4
CCI157
TSI / signal-12.0 / -16.3
Chaikin money flow0.01
ATR$0.85
Bollinger width6.5%
Volume vs 20-day avg0.69x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$32.56 (+2.9%)
SMA 50$34.08 (−1.7%)
SMA 200$35.62 (−6.0%)
EMA 21$33.02 (+1.5%)
EMA 50$33.73 (−0.7%)
EMA 200$33.79 (−0.9%)
Bollinger upper$33.62 (−0.4%)
Bollinger lower$31.51 (+6.3%)
Parabolic SAR$31.76 (+5.5%)
Open the live chart, 110+ indicators

About Halliburton Company

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.

https://www.halliburton.com

Key executives

NameTitlePayBorn
Jeffrey Allen MillerChairman of the Board, President & Chief Executive Officer$8.5M1964
Jeffrey Shannon SlocumExecutive VP, COO & Director$4.0M1973
Lawrence J. PopeExecutive VP & Chief Administrative Officer$4.0M1968
Eric J. CarreExecutive Vice President & Chief Financial Officer$3.2M1967
Van H. BeckwithExecutive Vice President, Secretary & Chief Legal Officer$3.0M1966
Jill D. SharpSenior Vice President of Internal Assurance Services—1971
Josh SearsSenior VP Halliburton Drilling & Evaluation Division——
Stephanie HolzhauserSenior Vice President & Chief Accounting Officer—1980

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Jeffrey A. Miller Chairman of the Board, President and Chief Executive Officer2025$1.7M$8.0M$5.9M$16.5M
Mark J. Richard Special Advisor to CEO2025$1.0M$2.4M$2.3M$6.8M
J. Shannon Slocum Director, Executive Vice President and Chief Operating Officer2025$925,000$2.4M$988,838$6.5M
Eric J. Carre Executive Vice President and Chief Financial Officer2025$950,000$2.3M$1.8M$5.5M
Van H. Beckwith Executive Vice President, Secretary and Chief Legal Officer2025$870,000$2.1M$1.8M$5.2M

Employees

60k201855k201940k202040k202145k202248k202348k202446k2025

Dividends

Ex-dateAmountPaid
2026-09-02$0.172026-09-23
2026-06-03$0.172026-06-24
2026-03-04$0.172026-03-25
2025-12-03$0.172025-12-24
2025-09-03$0.172025-09-24
2025-06-04$0.172025-06-25
2025-03-05$0.172025-03-26
2024-12-04$0.172024-12-26

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage67
Intangibles34
Switching costs28
Network effect35
Efficient scale73
Our component scores (0-100) and overall 45.1; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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