Tearsheet

Halliburton (HAL)


Market Price (9/17/2025): $22.38 | Market Cap: $19.2 Bil
Sector: Energy | Industry: Oil & Gas Equipment & Services

Halliburton (HAL)


Market Price (9/17/2025): $22.38
Market Cap: $19.2 Bil
Sector: Energy
Industry: Oil & Gas Equipment & Services

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 3.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.3%, FCF Yield is 11%
Weak multi-year price returns
2Y Excs Rtn is -93%, 3Y Excs Rtn is -82%
Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.1%, Rev Chg QQuarterly Revenue Change % is -5.5%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 3.6 Bil, FCF LTM is 2.1 Bil
  
2 Low stock price volatility
Vol 12M is 41%
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 3.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.3%, FCF Yield is 11%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 3.6 Bil, FCF LTM is 2.1 Bil
2 Low stock price volatility
Vol 12M is 41%
3 Weak multi-year price returns
2Y Excs Rtn is -93%, 3Y Excs Rtn is -82%
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.1%, Rev Chg QQuarterly Revenue Change % is -5.5%

Market Valuation

 9/17/252024202320222021
Share Price CYE$22.38$26.57$34.60$36.99$21.20
Market Cap CYE ($ Bil)19.223.230.933.419.0
Total Debt ($ Bil)8.68.68.88.910.2
Total Cash ($ Bil)2.02.62.32.33.0
Enterprise Value ($ Bil)25.731.839.742.329.2
Valuation Ratios     
P/S TTM0.91.11.41.81.3
P/EBIT TTM6.66.58.213.711.4
P/E TTM10.39.612.322.614.0
Sector Ratios     
P/S TTM (Sector)1.31.51.51.21.2
P/EBIT TTM (Sector)6.86.55.34.14.1
P/E TTM (Sector)9.89.58.05.53.2
 9/17/2520242023
Share Price CYE$22.38$26.57$34.60
Market Cap CYE ($ Bil)19.223.230.9
Total Debt ($ Bil)8.68.68.8
Total Cash ($ Bil)2.02.62.3
Enterprise Value ($ Bil)25.731.839.7
Valuation Ratios   
P/S TTM0.91.11.4
P/EBIT TTM6.66.58.2
P/E TTM10.39.612.3
Sector Ratios   
P/S TTM (Sector)1.31.51.5
P/EBIT TTM (Sector)6.86.55.3
P/E TTM (Sector)9.89.58.0

Business Description

Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning. Show more

Price Returns Compared

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 202020212022202320242025Total [1]
Returns
HAL Return-21%22%74%-6%-23%-16%1%
Peers Return-38%7%61%16%2%-14%9%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: BKR, HAL, FTI, CHX, NOV. See HAL Returns vs. Peers.
[3] 2025 data is for the year up to 9/16/2025 (YTD)

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Financials

HALBKRFTICHXNOVMedian
NameHallibur.Baker Hu.TechnipF.ChampionXNOV  
Mkt Price22.4247.2339.01-13.3030.71
Mkt Cap19.246.716.2-5.017.7
Rev LTM22,23427,6099,484-8,79015,859
Op Inc LTM3,4333,5141,175-6962,304
FCF LTM2,1492,1651,318-9091,734
FCF 3Y Avg2,1451,837824-2981,330
CFO LTM3,5703,4191,643-1,2762,531
CFO 3Y Avg3,5043,0361,073-6072,054

Growth & Margins

HALBKRFTICHXNOVMedian
NameHallibur.Baker Hu.TechnipF.ChampionXNOV  
Rev Chg LTM-4.1%2.1%11.5%--1.2%0.5%
Rev Chg 3Y Avg9.2%10.7%14.2%-13.5%12.1%
Rev Chg Q-5.5%-3.2%9.0%--1.3%-2.2%
QoQ Delta Rev Chg LTM-1.4%-0.8%2.3%--0.3%-0.6%
Op Mgn LTM15.4%12.7%12.4%-7.9%12.6%
Op Mgn 3Y Avg16.9%11.3%8.8%-7.9%10.0%
QoQ Delta Op Mgn LTM-1.1%0.3%0.7%--1.9%-0.4%
CFO/Rev LTM16.1%12.4%17.3%-14.5%15.3%
CFO/Rev 3Y Avg15.5%11.7%12.4%-6.8%12.0%
FCF/Rev LTM9.7%7.8%13.9%-10.3%10.0%
FCF/Rev 3Y Avg9.5%7.1%9.4%-3.2%8.2%

Valuation

HALBKRFTICHXNOVMedian
NameHallibur.Baker Hu.TechnipF.ChampionXNOV  
Mkt Cap19.246.716.2-5.017.7
P/S0.91.71.7-0.61.3
P/EBIT6.713.213.8-7.110.2
P/E10.315.317.8-10.612.9
P/CFO5.413.69.9-3.97.6
Total Yield12.8%8.4%6.1%-13.3%10.6%
Dividend Yield3.1%1.9%0.5%-3.9%2.5%
FCF Yield 3Y Avg8.9%5.2%7.0%-6.0%6.5%
D/E0.40.10.1-0.50.3
Net D/E0.30.10.0-0.30.2

Returns

HALBKRFTICHXNOVMedian
NameHallibur.Baker Hu.TechnipF.ChampionXNOV  
1M Rtn7.0%10.4%11.5%-9.9%10.1%
3M Rtn-1.8%19.9%10.6%--3.1%4.4%
6M Rtn-8.9%9.3%39.2%--6.7%1.3%
12M Rtn-18.8%42.1%57.3%--13.9%14.1%
3Y Rtn-15.1%113.4%339.1%--17.1%49.2%
1M Excs Rtn4.5%7.9%9.1%-7.5%7.7%
3M Excs Rtn-10.9%12.3%3.1%--11.8%-3.9%
6M Excs Rtn-26.1%-7.5%22.2%--22.6%-15.1%
12M Excs Rtn-35.8%27.0%46.1%--31.2%-2.1%
3Y Excs Rtn-81.8%38.7%276.7%--81.2%-21.2%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Completion and Production13,68911,5828,4107,83914,031
Drilling and Evaluation9,3298,7156,8856,6068,377
Total23,01820,29715,29514,44522,408


Operating Income by Segment
$ Mil20242023202220212020
Completion and Production2,8352,0371,2389951,671
Drilling and Evaluation1,5431,292801569642
Impairments and other charges0-366-12-3,799-2,506
SAP S4 upgrade expense-5100  
Corporate and other-244-256-227-201-255
Total4,0832,7071,800-2,436-448


Assets by Segment
$ Mil20242023202220212020
Completion and Production11,606  7,92411,894
Drilling and Evaluation7,532  6,3718,059
Corporate and other5,545  6,3855,424
Total24,683  20,68025,377


Price Behavior

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity31,062,103
Short Interest: % Change Since 8152025-8.5%
Average Daily Volume9,948,940
Days-to-Cover Short Interest3.12
Basic Shares Quantity857,000,000
Short % of Basic Shares3.6%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/22/20251.0%7.8%-0.3%
4/22/2025-5.6%-5.8%-6.6%
1/22/2025-3.6%-9.8%-8.6%
11/7/2024-3.1%-1.0%-5.1%
7/19/2024-5.6%-6.3%-13.9%
4/23/2024-0.3%0.4%-2.8%
1/23/20242.5%8.0%2.0%
10/24/2023-3.4%-5.4%-8.3%
...
SUMMARY STATS   
# Positive242
# Negative868
Median Positive1.8%4.3%2.6%
Median Negative-3.5%-5.7%-7.4%
Max Positive2.5%8.0%3.1%
Max Negative-5.6%-9.8%-13.9%

SEC Filings

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Report DateFiling DateFiling
6302025725202510-Q 6/30/2025
3312025425202510-Q 3/31/2025
12312024212202510-K 12/31/2024
93020241107202410-Q 9/30/2024
6302024729202410-Q 6/30/2024
3312024424202410-Q 3/31/2024
12312023206202410-K 12/31/2023
93020231025202310-Q 9/30/2023
6302023726202310-Q 6/30/2023
3312023426202310-Q 3/31/2023
12312022207202310-K 12/31/2022
93020221026202210-Q 9/30/2022
6302022722202210-Q 6/30/2022
3312022422202210-Q 3/31/2022
12312021204202210-K 12/31/2021
93020211022202110-Q 9/30/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Weiss Janet L 5302025Buy19.798,550169,162371,342Form
1Carre EricEVP & Chief Financial Officer3172025Sell25.0051,1791,279,4753,177,534Form
2McKeon TimothySenior VP and Treasurer3102025Sell24.6010,497258,2261,913,486Form
3Banks Margaret Katherine 3052025Sell24.043,90093,736253,593Form
4Carre EricEVP & Chief Financial Officer2122025Sell26.13141,2063,689,7133,321,159Form