A Business at a Glance
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HALLIBURTON CO
HAL
$28.5B
Mkt Cap
$33.36
+1.99%
HALLIBURTON CO (HAL) has a current P/E ratio of 22.2, compared to its historical median P/E of 12.6. The stock is currently considered Expensive based on its historical valuation range.
HALLIBURTON CO (HAL) has a 5-year average return on invested capital (ROIC) of 14.7%. This indicates solid capital allocation.
HALLIBURTON CO (HAL) has a market capitalization of $35.5B. It is classified as a large-cap stock.
Yes, HALLIBURTON CO (HAL) pays a dividend with a trailing twelve-month yield of 1.62%. The company also returns capital through share buybacks, with a buyback yield of 2.42%.
Based on historical P/E analysis, HALLIBURTON CO (HAL) appears expensive. The current P/E of 22.2 is 77% above its historical median of 12.6. The estimated fair value CAGR (P/E method) is 1290.9%.
HALLIBURTON CO (HAL) operates in the Oil & Gas Field Services, Nec industry, within the Energy sector.
HALLIBURTON CO (HAL) reported annual revenue of $22.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
Halliburton is one of the world's largest diversified energy services companies, operating through two segments: Completion and Production, which delivers cementing, stimulation, specialty chemicals, intervention, pressure control, artificial lift, and completion products and services; and Drilling and Evaluation, which provides field and reservoir modeling, drilling fluids, evaluation, and precise wellbore placement solutions. The company serves major, national, and independent oil and natural gas producers globally, helping customers maximize asset value throughout the reservoir lifecycle from hydrocarbon locating and geological data management through drilling, formation evaluation, well construction and completion, and production optimization. Halliburton operates in more than 70 countries across four primary geographic regions—North America, Latin America, Europe/Africa/CIS, and Middle East/Asia—with approximately 46,000 employees representing 146 nationalities; the United States accounted for 39% of consolidated revenue in 2025. The company's value proposition centers on collaborative engineering solutions that improve efficiency, increase recovery, and maximize production for customers, supported by proprietary technologies including electric fracturing platforms, rotary steerable systems, and digital automation capabilities. Competitive differentiation derives from service delivery quality, technical proficiency, health and safety standards, global talent retention, and understanding of geological characteristics, with no single customer representing more than 10% of revenue.
【International growth momentum building】 Management expects mid- to high-single-digit international revenue growth outside the Middle East in 2026, with Latin America leading growth and offshore markets strengthening due to Halliburton's technology, execution, and collaborative value proposition. North America is anticipated to decline in high single digits in 2026 compared to 2025, reflecting reduced customer activity in land operations and the stacking of uneconomic fleets, though management views this as a rebalancing year followed by sustained strong growth as supply and demand normalize. The company expects 2026 to be characterized by moderate softness in key markets near-term, with supply increases moderating as demand continues to rise, and management is confident that North America will be the first to recover when commodity fundamentals improve. Management remains confident in the power of closed-loop automation technologies and collaborative models to win offshore projects, and expects continued differentiation through digital and automation technology deployment both internally and for customers.
| Metric | Target | Period |
|---|---|---|
| Capital expenditures | about $1.1 billion | FY2026 |
| International revenue growth (ex-Middle East) | mid- to high-single-digits | FY2026 |
| North America revenue | decline, high single digits | FY2026 |
| International revenue | flat to up modestly | FY2026 |
Capital expenditures (FY2026): “For the full year 2026, we expect CapEx to be about $1.1 billion.”
International revenue growth (ex-Middle East) (FY2026): “we expect year-over-year revenue growth in the mid- to high-single-digits for the full year, led by Latin America”
North America revenue (FY2026): “we expect North America revenue to decline, high single digits compared to 2025”
International revenue (FY2026): “Looking ahead to 2026, we expect total international revenue to be flat to up modestly.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 22.2B | 22.2B | 22.9B | 23.0B | 20.3B | 15.3B |
| Net Income | 1.5B | 1.3B | 2.5B | 2.6B | 1.6B | 1.5B |
| EPS | $1.60 | $1.50 | $2.99 | $3.04 | $1.77 | $1.61 |
| Free Cash Flow | 1.7B | 1.7B | 2.4B | 2.1B | 1.2B | 1.1B |
| ROIC | 12.0% | 12.0% | 17.1% | 18.8% | 13.0% | 12.5% |
| Gross Margin | - | 38.6% | 41.3% | 41.8% | 39.0% | 36.3% |
| Debt/Equity | 0.66 | 0.78 | 1.15 | 1.31 | 1.57 | 2.04 |
| Dividends/Share | $0.54 | $0.68 | $0.68 | $0.64 | $0.48 | $0.18 |
| Operating Income | 2.5B | 2.3B | 3.8B | 4.1B | 2.7B | 1.8B |
| Operating Margin | 11.3% | 10.2% | 16.7% | 17.7% | 13.3% | 11.8% |
| ROE | 14.3% | 12.2% | 23.8% | 28.1% | 19.8% | 21.7% |
| Shares Outstanding | 1,063M | 855M | 838M | 868M | 890M | 904M |
HALLIBURTON CO passes 6 of 9 quality checks, suggesting mixed fundamentals.
HALLIBURTON CO trades at 22.2x trailing earnings, compared to its 15-year median P/E of 12.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 16.7x vs a median of 17.2x. The company's 5-year average ROIC is 14.7% with a gross margin of 39.4%. Total shareholder yield (dividends + buybacks) is 4.0%. At current prices, the estimated annualized return to fair value is +14.6%.
HALLIBURTON CO (HAL) has a net profit margin of 5.8%. This is a modest margin.
HALLIBURTON CO (HAL) generated $1.7 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
HALLIBURTON CO (HAL) has a debt-to-equity ratio of 0.78. This indicates moderate leverage.
HALLIBURTON CO (HAL) reported earnings per share (EPS) of $1.50 in its most recent fiscal year.
HALLIBURTON CO (HAL) has a return on equity (ROE) of 12.2%. This indicates moderate shareholder returns.
HALLIBURTON CO (HAL) has a 5-year average gross margin of 39.4%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for HALLIBURTON CO (HAL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
HALLIBURTON CO (HAL) has a book value per share of $12.23, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects mid- to high-single-digit international revenue growth outside the Middle East in 2026, with Latin America leading growth and offshore markets strengthening due to Halliburton's technology, execution, and collaborative value proposition. North America is anticipated to decline in high single digits in 2026 compared to 2025, reflecting reduced customer activity in land operations and the stacking of uneconomic fleets, though management views this as a rebalancing year followed by sustained strong growth as supply and demand normalize. The company expects 2026 to be characterized by moderate softness in key markets near-term, with supply increases moderating as demand continues to rise, and management is confident that North America will be the first to recover when commodity fundamentals improve. Management remains confident in the power of closed-loop automation technologies and collaborative models to win offshore projects, and expects continued differentiation through digital and automation technology deployment both internally and for customers.
Based on recent SEC filings and earnings calls, HALLIBURTON CO (HAL) has provided the following forward guidance: Capital expenditures: about $1.1 billion (FY2026); International revenue growth (ex-Middle East): mid- to high-single-digits (FY2026); North America revenue: decline, high single digits (FY2026); International revenue: flat to up modestly (FY2026).
No recent press releases.