Halliburton Company (HAL) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$0.54	$0.55	+1.9%	—	—	—
Q2 26	$0.5	$0.55	+10.0%	—	—	—
Q1 26	$0.55	$0.69	+25.5%	—	—	—
Q4 25	$0.5	$0.58	+16.0%	—	—	—
Q3 25	$0.55	$0.55	0.0%	—	—	—
Q2 25	$0.6	$0.6	0.0%	—	—	—
Q1 25	$0.7	$0.7	0.0%	—	—	—
Q4 24	$0.75	$0.73	-2.7%	—	—	—
Q3 24	$0.8	$0.8	0.0%	—	—	—
Q2 24	$0.74	$0.76	+2.7%	—	—	—
Q1 24	$0.8	$0.86	+7.5%	—	—	—
Q4 23	$0.77	$0.79	+2.6%	—	—	—
Q3 23	$0.75	$0.77	+2.7%	—	—	—
Q2 23	$0.67	$0.72	+7.5%	—	—	—
Q1 23	$0.67	$0.72	+7.5%	—	—	—
Q4 22	$0.56	$0.6	+7.1%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.5	—	—	$22.2B	—
FY24	—	$2.84	—	—	$22.9B	—
FY23	—	$2.93	—	—	$23B	—
FY22	—	$1.74	—	—	$20.3B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$15.9B	$20.6B	$24B	$22.4B	$14.4B	$15.3B	$20.3B	$23B	$22.9B	$22.2B
YoY change	-32.8%	+29.8%	+16.4%	-6.61%	-35.5%	+5.88%	+32.7%	+13.4%	-0.32%	-3.31%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	15.9B	20.6B	24B	22.4B	14.4B	15.3B	20.3B	23B	22.9B	22.2B
Cost of revenue	15B	18.3B	21B	20.1B	12.9B	13.3B	17B	18.7B	18.6B	18.7B
Gross profit	870M	2.3B	3B	2.3B	1.5B	2B	3.3B	4.4B	4.3B	3.5B
Gross margin	5.48%	11%	12.4%	10.2%	10.7%	13.2%	16.3%	18.9%	18.7%	15.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	226M	256M	254M	227M	182M	204M	240M	226M	239M	239M
Operating expenses	226M	256M	254M	227M	182M	204M	240M	175M	363M	393M
Operating income	644M	2B	2.7B	2.1B	1.4B	1.8B	3.1B	4.2B	3.9B	3.1B
Operating margin	4.05%	9.8%	11.4%	9.18%	9.44%	11.6%	15.1%	18.2%	17.2%	13.9%
Non-operating income, net	-7.6B	-746M	-364M	-2.6B	-4.1B	-4M	-500M	-325M	-351M	-968M
Pretax income	-7.6B	682M	1.8B	-1.1B	-3.2B	1.3B	2.1B	3.4B	3.2B	1.8B
Income tax	-1.9B	1.1B	157M	7M	-278M	-216M	515M	701M	718M	479M
Net income	-5.8B	-468M	1.7B	-1.1B	-2.9B	1.5B	1.6B	2.7B	2.5B	1.3B
Net margin	-36.3%	-2.27%	6.91%	-5.04%	-20.4%	9.6%	7.86%	11.6%	11%	5.82%
EBITDA	2B	3.6B	4.3B	3.4B	2.3B	2.7B	4B	5.2B	4.9B	4.1B
EPS	-6.69	-0.53	1.89	-1.29	-3.34	1.63	1.74	2.93	2.84	1.5
Diluted EPS	-6.69	-0.53	1.89	-1.29	-3.34	1.63	1.74	2.92	2.83	1.5

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	5.8B	5.7B	5.8B	5.8B	5.7B	5.6B	5.4B	5.5B	5.6B	5.7B	5.4B	5.7B
Cost of revenue	4.7B	4.6B	4.7B	4.7B	4.6B	4.6B	4.5B	4.7B	4.7B	4.7B	4.6B	4.9B
Gross profit	1.1B	1.1B	1.1B	1.1B	1.1B	1B	879M	819M	856M	930M	783M	804M
Gross margin	19.3%	19.7%	18.6%	19.3%	18.8%	18.3%	16.2%	14.9%	15.3%	16.4%	14.5%	14.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	58M	60M	61M	62M	55M	61M	62M	60M	58M	59M	62M	75M
Operating expenses	81M	-27M	95M	91M	83M	94M	92M	92M	108M	101M	104M	121M
Operating income	1B	1.2B	987M	1B	987M	932M	787M	727M	748M	829M	679M	683M
Operating margin	17.9%	20.2%	17%	17.7%	17.3%	16.6%	14.5%	13.2%	13.4%	14.7%	12.6%	12%
Non-operating income, net	-27M	-92M	-108M	-20M	-168M	-55M	-395M	-24M	-441M	-108M	-28M	64M
Pretax income	916M	835M	787M	920M	734M	793M	306M	611M	219M	635M	569M	664M
Income tax	192M	168M	178M	207M	154M	179M	103M	131M	199M	46M	105M	126M
Net income	724M	667M	609M	713M	580M	614M	203M	480M	20M	589M	464M	538M
Net margin	12.5%	11.6%	10.5%	12.2%	10.2%	10.9%	3.75%	8.71%	0.36%	10.4%	8.59%	9.42%
EBITDA	1.3B	1.5B	1.2B	1.3B	1.2B	1.2B	1.1B	1B	1B	1B	968M	969M
EPS	0.8	0.74	0.68	0.8	0.65	0.7	0.24	0.55	0.02	0.7	0.55	0.64
Diluted EPS	0.79	0.74	0.68	0.8	0.65	0.7	0.24	0.55	0.02	0.7	0.55	0.64

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	46.6B	42.5B	23.3B	21.4B	16.7B	20.4B	35.6B	32.5B	24B	24.1B	27.1B
Enterprise value	54.9B	51.1B	31.6B	30.5B	24.9B	27.6B	42.2B	39B	30B	30B	33.5B
Shares outstanding	861M	870M	875M	875M	881M	892M	904M	899M	882M	853M	853M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	14	—	—	13.9	22.3	12.2	9.53	18.7	17.2
P/S	2.93	2.06	0.97	0.96	1.15	1.33	1.75	1.41	1.05	1.09	1.22
P/B	4.93	5.09	2.44	2.67	3.34	3.03	4.46	3.45	2.27	2.29	2.48
EV/EBITDA	27.6	14.2	7.38	8.85	10.6	10.4	10.6	7.54	6.13	7.33	8.09
EV/Sales	3.46	2.48	1.32	1.36	1.73	1.8	2.08	1.7	1.31	1.35	1.5
Earnings yield	—	—	7.12%	—	—	7.2%	4.48%	8.19%	10.5%	5.36%	5.83%
FCF yield	-5.37%	2.58%	4.86%	4.27%	6.92%	5.45%	3.46%	6.4%	10.1%	6.94%	7.58%
PEG	—	—	—	—	—	—	—	—	—	—	1.05

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	5.48%	11%	12.4%	10.2%	10.7%	13.2%	16.3%	18.9%	18.7%	15.7%	14.1%
Operating margin	4.05%	9.8%	11.4%	9.18%	9.44%	11.6%	15.1%	18.2%	17.2%	13.9%	12.8%
Net margin	-36.3%	-2.27%	6.91%	-5.04%	-20.4%	9.6%	7.86%	11.6%	11%	5.82%	7.16%
ROE	-61.1%	-5.61%	17.4%	-14.1%	-59%	21.8%	20%	28.2%	23.9%	12.3%	14.9%
ROA	-21.4%	-1.87%	6.38%	-4.45%	-14.2%	6.58%	6.86%	10.8%	9.83%	5.17%	7.26%
ROIC	3.61%	0%	14%	12%	10.3%	12.8%	15.9%	20.7%	18.5%	13.7%	13.2%
Return on tangible assets	-26%	-2.38%	8.15%	-5.72%	-19.5%	8.82%	9.06%	14%	12.6%	6.75%	8.14%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.9	2.22	2.32	2.3	2.14	2.31	2.05	2.06	2.05	2.04	2.02
Quick ratio	2.34	1.72	1.69	1.65	1.61	1.76	1.5	1.48	1.54	1.51	1.5
Debt / equity	1.31	1.31	1.08	1.42	2.17	1.52	1.12	0.93	0.82	0.77	0.74
Debt / assets	0.46	0.44	0.4	0.45	0.52	0.46	0.38	0.36	0.34	0.33	0.32
Net debt / EBITDA	4.21	2.4	1.95	2.64	3.52	2.7	1.66	1.26	1.22	1.45	1.55
Interest coverage	-9.92	1.97	4.03	-0.9	-4.93	3.37	5.29	6.82	8.19	6.03	7.16
Effective tax rate	0%	100%	8.65%	0%	0%	0%	24.4%	20.8%	22.2%	27%	22.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	18.5	23.7	27.4	25.6	16.4	17.1	22.5	25.6	26	26	26.6
EPS (basic)	-6.69	-0.53	1.89	-1.29	-3.34	1.63	1.74	2.93	2.84	1.5	1.5
EPS (diluted)	-6.69	-0.53	1.89	-1.29	-3.34	1.63	1.74	2.92	2.83	1.5	1.91
Book value per share	11	9.6	10.9	9.17	5.66	7.54	8.82	10.5	12	12.3	13.2
FCF per share	-2.9	1.26	1.29	1.05	1.31	1.25	1.36	2.31	2.75	1.96	2.06
Cash per share	4.66	2.69	2.29	2.59	2.91	3.41	2.6	2.52	2.97	2.59	2.46
Capex per share	0.26	0.18	0.25	0.22	0.32	0.29	0.22	0.22	0.25	1.47	1.22

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.4%	0.77%	0.91%	0.85%	1.98%	1.68%	0.99%	0.85%	0.97%	5.65%	4.58%
Capex / operating cash flow	-4.39%	8.68%	7.36%	228.9%	-18.2%	13.5%	10.7%	5.64%	5.95%	42.9%	37.3%
Payout ratio	-10.7%	-133.8%	38%	-55.8%	-9.45%	11%	27.3%	21.6%	23.8%	44.8%	35.6%
Dividend yield	1.33%	1.47%	2.71%	2.94%	1.67%	0.79%	1.22%	1.77%	2.5%	2.4%	2.1%

Yield

2.1%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.17

ex-dividend Sep 2, 2026

Payout ratio

36%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 2, 2026	$0.17
Jun 3, 2026	$0.17
Mar 4, 2026	$0.17

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$5.8B	$5.7B	$5.8B	$5.8B	$5.7B	$5.6B	$5.4B	$5.5B	$5.6B	$5.7B	$5.4B	$5.7B
YoY change	+8.34%	+2.81%	+2.24%	+0.6%	-1.84%	-2.25%	-6.67%	-5.54%	-1.7%	+0.84%	-0.28%	+3.7%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	4B	2.3B	2B	2.3B	2.6B	3B	2.3B	2.3B	2.6B	2.2B
Receivables	3.9B	5B	5.2B	4.6B	3.1B	3.7B	4.6B	4.9B	5.1B	4.9B
Inventory	2.3B	2.4B	3B	3.1B	2.3B	2.4B	2.9B	3.2B	3B	3B
Total current assets	11.7B	10.8B	11.2B	11.2B	9.5B	9.9B	11B	11.5B	12.4B	11.4B
Property, plant & equipment	5.1B	5.1B	5.4B	5.1B	3.5B	3.7B	3.6B	4.3B	4.4B	4.5B
Goodwill & intangibles	4.8B	5.4B	5.7B	5.6B	5.6B	5.7B	5.7B	5.7B	5.7B	5.9B
Total assets	27B	25.1B	26B	25.4B	20.7B	22.3B	23.3B	24.7B	25.6B	25B
Accounts payable	1.8B	2.6B	3B	2.4B	1.6B	2.4B	3.1B	3.1B	3.2B	3.1B
Short-term debt	170M	512M	36M	219M	946M	240M	224M	262M	644M	263M
Total current liabilities	4B	4.9B	4.8B	4.9B	4.4B	4.3B	5.3B	5.6B	6B	5.6B
Long-term debt	12.2B	10.4B	10.3B	11.1B	9.9B	10B	8.7B	8.5B	8B	7.9B
Total liabilities	17.6B	16.7B	16.4B	17.4B	15.7B	15.6B	15.3B	15.3B	15B	14.5B
Shareholders' equity	9.4B	8.3B	9.5B	8B	5B	6.7B	8B	9.4B	10.5B	10.5B
Total debt	12.4B	10.9B	10.3B	11.4B	10.8B	10.2B	8.9B	8.8B	8.6B	8.1B
Net debt	8.4B	8.6B	8.3B	9.1B	8.3B	7.2B	6.6B	6.5B	6B	5.9B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	2B	2.3B	1.9B	2.1B	2.2B	2.6B	1.8B	2B	2B	2.2B	2B	2B
Receivables	5.1B	4.9B	5.1B	5.3B	5.3B	5.1B	5.2B	5B	5.2B	4.9B	5.2B	5.3B
Inventory	3.3B	3.2B	3.3B	3.3B	3.2B	3B	3B	3.1B	3.1B	3B	3B	3.1B
Total current assets	11.6B	11.5B	11.4B	11.9B	12B	12.4B	11.5B	11.7B	11.6B	11.4B	11.5B	11.9B
Property, plant & equipment	5.8B	4.3B	6.1B	6.1B	5.9B	4.4B	6.1B	6.2B	6.1B	4.5B	6.1B	6.2B
Goodwill & intangibles	5.7B	5.7B	5.7B	5.7B	5.7B	5.7B	5.8B	5.9B	5.9B	5.9B	6B	6B
Total assets	24.4B	24.7B	24.7B	25.2B	25.3B	25.6B	25.2B	25.4B	25.2B	25B	25.1B	25.8B
Accounts payable	3.2B	3.1B	3.1B	3.3B	3B	3.2B	3.2B	3.2B	3.2B	3.1B	3.2B	3.5B
Short-term debt	248M	262M	267M	258M	251M	644M	645M	642M	676M	263M	333M	377M
Total current liabilities	5.4B	5.6B	5.4B	5.6B	5.5B	6B	5.8B	5.8B	6B	5.6B	5.5B	5.9B
Long-term debt	8.7B	8.5B	8.5B	8.5B	8.4B	8B	7.9B	7.9B	7.9B	7.9B	7.7B	7.8B
Total liabilities	15.3B	15.3B	15B	15.1B	15B	15B	14.8B	14.8B	14.9B	14.5B	14.3B	14.8B
Shareholders' equity	9.2B	9.4B	9.7B	10B	10.4B	10.5B	10.4B	10.5B	10.2B	10.5B	10.8B	11.1B
Total debt	8.9B	8.8B	8.8B	8.7B	8.7B	8.6B	8.6B	8.6B	8.6B	8.1B	8.1B	8.2B
Net debt	6.9B	6.5B	6.9B	6.6B	6.5B	6B	6.8B	6.5B	6.5B	5.9B	6.1B	6.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-5.8B	-468M	1.7B	-1.1B	-2.9B	1.5B	1.6B	2.7B	2.5B	1.3B
Depreciation & amortization	1.5B	1.6B	1.6B	1.6B	1.1B	904M	940M	998M	1.1B	1.1B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	1.2B	-626M	-384M	-161M	800M	285M	-941M	-511M	-103M	196M
Operating cash flow	-5.1B	1.8B	3B	83M	-1.6B	1.9B	1.9B	3.5B	3.7B	2.9B
Capital expenditure	222M	158M	218M	190M	286M	257M	200M	195M	223M	-1.3B
Investing cash flow	88M	-565M	137M	85M	242M	265M	44M	-280M	-212M	-1.5B
Dividends paid	-620M	-626M	-630M	-630M	-278M	-161M	-435M	-576M	-600M	-579M
Share repurchases	0	0	-400M	-100M	-100M	0	-250M	-800M	-1B	-1B
Financing cash flow	-3.5B	-2.2B	-1.4B	-695M	-1B	-838M	-1.8B	-1.7B	-1.7B	-2B
Net change in cash	-8.4B	-895M	1.7B	-527M	-2.3B	1.3B	122M	1.5B	1.8B	-571M
Free cash flow	-2.5B	1.1B	1.1B	915M	1.2B	1.1B	1.2B	2.1B	2.4B	1.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	724M	667M	609M	713M	580M	614M	203M	480M	20M	589M	464M	538M
Depreciation & amortization	256M	256M	263M	271M	270M	275M	277M	284M	285M	290M	295M	296M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-209M	287M	-341M	-24M	-280M	542M	-154M	254M	-211M	307M	-252M	65M
Operating cash flow	874M	1.2B	487M	1.1B	725M	1.3B	21M	896M	488M	1.2B	273M	824M
Capital expenditure	46M	59M	49M	59M	41M	74M	49M	40M	-261M	-337M	-192M	-235M
Investing cash flow	-31M	-136M	-51M	-46M	-119M	-18M	-482M	98M	-135M	-246M	-285M	-462M
Dividends paid	-144M	-143M	-151M	-151M	-150M	-148M	-147M	-145M	-144M	-143M	-142M	-143M
Share repurchases	-198M	-254M	-250M	-250M	-196M	-309M	-250M	-257M	-250M	-250M	-100M	-208M
Financing cash flow	-483M	-680M	-422M	-416M	-347M	-650M	-406M	-405M	-405M	-480M	-237M	-382M
Net change in cash	360M	398M	14M	619M	259M	640M	-867M	589M	-52M	439M	-249M	-20M
Free cash flow	465M	1B	157M	734M	502M	1B	75M	542M	227M	828M	81M	589M

Date	Ratio
Jul 17, 2006	2:1
Jul 22, 1997	2:1
Jan 24, 1996	100000:95301
Dec 26, 1980	2:1
Apr 30, 1976	3:1

Halliburton Company Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history