Halliburton (HAL)
Market Price (9/17/2025): $22.38 | Market Cap: $19.2 BilSector: Energy | Industry: Oil & Gas Equipment & Services
Halliburton (HAL)
Market Price (9/17/2025): $22.38Market Cap: $19.2 BilSector: EnergyIndustry: Oil & Gas Equipment & Services
Investment Highlights
Attractive yieldTotal 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 returns2Y Excs Rtn is -93%, 3Y Excs Rtn is -82% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.1%, Rev Chg QQuarterly Revenue Change % is -5.5% |
Attractive cash flow generationCFO/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 | ||
Low stock price volatilityVol 12M is 41% |
Attractive yieldTotal 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% |
Attractive cash flow generationCFO/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 |
Low stock price volatilityVol 12M is 41% |
Weak multi-year price returns2Y Excs Rtn is -93%, 3Y Excs Rtn is -82% |
Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.1%, Rev Chg QQuarterly Revenue Change % is -5.5% |
Market Valuation
9/17/25 | 2024 | 2023 | 2022 | 2021 | |
---|---|---|---|---|---|
Share Price CYE | $22.38 | $26.57 | $34.60 | $36.99 | $21.20 |
Market Cap CYE ($ Bil) | 19.2 | 23.2 | 30.9 | 33.4 | 19.0 |
Total Debt ($ Bil) | 8.6 | 8.6 | 8.8 | 8.9 | 10.2 |
Total Cash ($ Bil) | 2.0 | 2.6 | 2.3 | 2.3 | 3.0 |
Enterprise Value ($ Bil) | 25.7 | 31.8 | 39.7 | 42.3 | 29.2 |
Valuation Ratios | |||||
P/S TTM | 0.9 | 1.1 | 1.4 | 1.8 | 1.3 |
P/EBIT TTM | 6.6 | 6.5 | 8.2 | 13.7 | 11.4 |
P/E TTM | 10.3 | 9.6 | 12.3 | 22.6 | 14.0 |
Sector Ratios | |||||
P/S TTM (Sector) | 1.3 | 1.5 | 1.5 | 1.2 | 1.2 |
P/EBIT TTM (Sector) | 6.8 | 6.5 | 5.3 | 4.1 | 4.1 |
P/E TTM (Sector) | 9.8 | 9.5 | 8.0 | 5.5 | 3.2 |
9/17/25 | 2024 | 2023 | |
---|---|---|---|
Share Price CYE | $22.38 | $26.57 | $34.60 |
Market Cap CYE ($ Bil) | 19.2 | 23.2 | 30.9 |
Total Debt ($ Bil) | 8.6 | 8.6 | 8.8 |
Total Cash ($ Bil) | 2.0 | 2.6 | 2.3 |
Enterprise Value ($ Bil) | 25.7 | 31.8 | 39.7 |
Valuation Ratios | |||
P/S TTM | 0.9 | 1.1 | 1.4 |
P/EBIT TTM | 6.6 | 6.5 | 8.2 |
P/E TTM | 10.3 | 9.6 | 12.3 |
Sector Ratios | |||
P/S TTM (Sector) | 1.3 | 1.5 | 1.5 |
P/EBIT TTM (Sector) | 6.8 | 6.5 | 5.3 |
P/E TTM (Sector) | 9.8 | 9.5 | 8.0 |
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.
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Price Returns Compared
Expand for Detailed View2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
---|---|---|---|---|---|---|---|
Returns | |||||||
HAL Return | -21% | 22% | 74% | -6% | -23% | -16% | 1% |
Peers Return | -38% | 7% | 61% | 16% | 2% | -14% | 9% |
S&P 500 Return | 16% | 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)
Latest Trefis Analyses
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Peer Comparisons for Halliburton
Financials
Median | |
---|---|
Name | |
Mkt Price | 30.71 |
Mkt Cap | 17.7 |
Rev LTM | 15,859 |
Op Inc LTM | 2,304 |
FCF LTM | 1,734 |
FCF 3Y Avg | 1,330 |
CFO LTM | 2,531 |
CFO 3Y Avg | 2,054 |
Growth & Margins
Median | |
---|---|
Name | |
Rev Chg LTM | 0.5% |
Rev Chg 3Y Avg | 12.1% |
Rev Chg Q | -2.2% |
QoQ Delta Rev Chg LTM | -0.6% |
Op Mgn LTM | 12.6% |
Op Mgn 3Y Avg | 10.0% |
QoQ Delta Op Mgn LTM | -0.4% |
CFO/Rev LTM | 15.3% |
CFO/Rev 3Y Avg | 12.0% |
FCF/Rev LTM | 10.0% |
FCF/Rev 3Y Avg | 8.2% |
Valuation
Median | |
---|---|
Name | |
Mkt Cap | 17.7 |
P/S | 1.3 |
P/EBIT | 10.2 |
P/E | 12.9 |
P/CFO | 7.6 |
Total Yield | 10.6% |
Dividend Yield | 2.5% |
FCF Yield 3Y Avg | 6.5% |
D/E | 0.3 |
Net D/E | 0.2 |
Returns
Median | |
---|---|
Name | |
1M Rtn | 10.1% |
3M Rtn | 4.4% |
6M Rtn | 1.3% |
12M Rtn | 14.1% |
3Y Rtn | 49.2% |
1M Excs Rtn | 7.7% |
3M Excs Rtn | -3.9% |
6M Excs Rtn | -15.1% |
12M Excs Rtn | -2.1% |
3Y Excs Rtn | -21.2% |
Comparison Analyses
Segment Financials
Revenue by Segment
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Completion and Production | 13,689 | 11,582 | 8,410 | 7,839 | 14,031 |
Drilling and Evaluation | 9,329 | 8,715 | 6,885 | 6,606 | 8,377 |
Total | 23,018 | 20,297 | 15,295 | 14,445 | 22,408 |
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Completion and Production | 2,835 | 2,037 | 1,238 | 995 | 1,671 |
Drilling and Evaluation | 1,543 | 1,292 | 801 | 569 | 642 |
Impairments and other charges | 0 | -366 | -12 | -3,799 | -2,506 |
SAP S4 upgrade expense | -51 | 0 | 0 | ||
Corporate and other | -244 | -256 | -227 | -201 | -255 |
Total | 4,083 | 2,707 | 1,800 | -2,436 | -448 |
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Completion and Production | 11,606 | 7,924 | 11,894 | ||
Drilling and Evaluation | 7,532 | 6,371 | 8,059 | ||
Corporate and other | 5,545 | 6,385 | 5,424 | ||
Total | 24,683 | 20,680 | 25,377 |
Returns Analyses
Earnings Returns History
Expand for MoreForward Returns | |||
---|---|---|---|
Earnings Date | 1D Returns | 5D Returns | 21D Returns |
7/22/2025 | 1.0% | 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% |
1/23/2024 | 2.5% | 8.0% | 2.0% |
10/24/2023 | -3.4% | -5.4% | -8.3% |
... | |||
SUMMARY STATS | |||
# Positive | 2 | 4 | 2 |
# Negative | 8 | 6 | 8 |
Median Positive | 1.8% | 4.3% | 2.6% |
Median Negative | -3.5% | -5.7% | -7.4% |
Max Positive | 2.5% | 8.0% | 3.1% |
Max Negative | -5.6% | -9.8% | -13.9% |
SEC Filings
Expand for MoreReport Date | Filing Date | Filing |
---|---|---|
6302025 | 7252025 | 10-Q 6/30/2025 |
3312025 | 4252025 | 10-Q 3/31/2025 |
12312024 | 2122025 | 10-K 12/31/2024 |
9302024 | 11072024 | 10-Q 9/30/2024 |
6302024 | 7292024 | 10-Q 6/30/2024 |
3312024 | 4242024 | 10-Q 3/31/2024 |
12312023 | 2062024 | 10-K 12/31/2023 |
9302023 | 10252023 | 10-Q 9/30/2023 |
6302023 | 7262023 | 10-Q 6/30/2023 |
3312023 | 4262023 | 10-Q 3/31/2023 |
12312022 | 2072023 | 10-K 12/31/2022 |
9302022 | 10262022 | 10-Q 9/30/2022 |
6302022 | 7222022 | 10-Q 6/30/2022 |
3312022 | 4222022 | 10-Q 3/31/2022 |
12312021 | 2042022 | 10-K 12/31/2021 |
9302021 | 10222021 | 10-Q 9/30/2021 |
Insider Activity
Expand for MoreOwner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
---|---|---|---|---|---|---|---|---|---|
0 | Weiss Janet L | 5302025 | Buy | 19.79 | 8,550 | 169,162 | 371,342 | Form | |
1 | Carre Eric | EVP & Chief Financial Officer | 3172025 | Sell | 25.00 | 51,179 | 1,279,475 | 3,177,534 | Form |
2 | McKeon Timothy | Senior VP and Treasurer | 3102025 | Sell | 24.60 | 10,497 | 258,226 | 1,913,486 | Form |
3 | Banks Margaret Katherine | 3052025 | Sell | 24.04 | 3,900 | 93,736 | 253,593 | Form | |
4 | Carre Eric | EVP & Chief Financial Officer | 2122025 | Sell | 26.13 | 141,206 | 3,689,713 | 3,321,159 | Form |
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