NYSE: HAL
Halliburton
Energy · Oil & Gas Field Services, NEC
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$26.3B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $46.9B |
| FY2017, ended Dec 31, 2017 | $42.8B |
| FY2018, ended Dec 31, 2018 | $23.2B |
| FY2019, ended Dec 31, 2019 | $21.5B |
| FY2020, ended Dec 31, 2020 | $16.8B |
| FY2021, ended Dec 31, 2021 | $20.6B |
| FY2022, ended Dec 31, 2022 | $35.6B |
| FY2023, ended Dec 31, 2023 | $32.2B |
| FY2024, ended Dec 31, 2024 | $23.6B |
| FY2025, ended Dec 31, 2025 | $23.7B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $26.3B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$22.5B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $15.9B |
| FY2017, ended Dec 31, 2017 | $20.6B |
| FY2018, ended Dec 31, 2018 | $24.0B |
| FY2019, ended Dec 31, 2019 | $22.4B |
| FY2020, ended Dec 31, 2020 | $14.4B |
| FY2021, ended Dec 31, 2021 | $15.3B |
| FY2022, ended Dec 31, 2022 | $20.3B |
| FY2023, ended Dec 31, 2023 | $23.0B |
| FY2024, ended Dec 31, 2024 | $22.9B |
| FY2025, ended Dec 31, 2025 | $22.2B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $22.5B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | −$5.76B | −$2.50B |
| FY2017, ended Dec 31, 2017 | −$463M | $1.09B |
| FY2018, ended Dec 31, 2018 | $1.66B | $1.13B |
| FY2019, ended Dec 31, 2019 | −$1.13B | $915M |
| FY2020, ended Dec 31, 2020 | −$2.94B | $1.15B |
| FY2021, ended Dec 31, 2021 | $1.46B | $1.11B |
| FY2022, ended Dec 31, 2022 | $1.57B | $1.23B |
| FY2023, ended Dec 31, 2023 | $2.64B | $2.08B |
| FY2024, ended Dec 31, 2024 | $2.50B | $2.42B |
| FY2025, ended Dec 31, 2025 | $1.28B | $1.67B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $2.00B | $1.60B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$1.84B
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $4.01B |
| FY2017, ended Dec 31, 2017 | $2.34B |
| FY2018, ended Dec 31, 2018 | $2.01B |
| FY2019, ended Dec 31, 2019 | $2.27B |
| FY2020, ended Dec 31, 2020 | $2.56B |
| FY2021, ended Dec 31, 2021 | $3.04B |
| FY2022, ended Dec 31, 2022 | $2.35B |
| FY2023, ended Dec 31, 2023 | $2.26B |
| FY2024, ended Dec 31, 2024 | $2.62B |
| FY2025, ended Dec 31, 2025 | $2.21B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.84B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$7.07B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $12.4B |
| FY2017, ended Dec 31, 2017 | $10.9B |
| FY2018, ended Dec 31, 2018 | $10.3B |
| FY2019, ended Dec 31, 2019 | $10.3B |
| FY2020, ended Dec 31, 2020 | $9.83B |
| FY2021, ended Dec 31, 2021 | $9.14B |
| FY2022, ended Dec 31, 2022 | $7.93B |
| FY2023, ended Dec 31, 2023 | $7.64B |
| FY2024, ended Dec 31, 2024 | $7.16B |
| FY2025, ended Dec 31, 2025 | $7.16B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $7.07B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 4.6% since 2016.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.827M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 867M |
| FY2017, ended Dec 31, 2017 | 875M |
| FY2018, ended Dec 31, 2018 | 873M |
| FY2019, ended Dec 31, 2019 | 880M |
| FY2020, ended Dec 31, 2020 | 889M |
| FY2021, ended Dec 31, 2021 | 899M |
| FY2022, ended Dec 31, 2022 | 904M |
| FY2023, ended Dec 31, 2023 | 890M |
| FY2024, ended Dec 31, 2024 | 868M |
| FY2025, ended Dec 31, 2025 | 838M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | 827M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$808M
Net: $808M more bought back than issued
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| Period | Bought back |
|---|---|
| FY2016, ended Dec 31, 2016 | $0 |
| FY2017, ended Dec 31, 2017 | $0 |
| FY2018, ended Dec 31, 2018 | $400M |
| FY2019, ended Dec 31, 2019 | $100M |
| FY2020, ended Dec 31, 2020 | $100M |
| FY2021, ended Dec 31, 2021 | $0 |
| FY2022, ended Dec 31, 2022 | $250M |
| FY2023, ended Dec 31, 2023 | $800M |
| FY2024, ended Dec 31, 2024 | $1.00B |
| FY2025, ended Dec 31, 2025 | $1.01B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $808M |
Revenue (TTM)
$22.5B
+1.5% YoY
Net income (TTM)
$2.00B
+52.9% YoY
Cash
$1.84B
−9.0% YoY
Total debt
$7.07B
−1.2% YoY
Valuation
At current price- Market Cap
- $29.9B
- P/E
- 15.0×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.3×
- Price / Book
- 2.7×
- EV / EBITDA
- 8.8×
Growth
Trailing 12 months- Revenue (TTM)
- $22.5B
- Revenue Growth YoY
- 1.5%
- Revenue CAGR 3Y
- 3.0%
- Revenue CAGR 5Y
- 9.0%
- EPS Growth YoY
- —. Diluted EPS, TTM vs. TTM a year earlier
- Net Income Growth YoY
- 52.9%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 12.6%
- Net Margin
- 8.9%
- FCF Margin
- 7.1%
- Return on Equity
- 18.8%
Earnings
Trailing 12 months- Net Income
- $2.00B
- EPS (diluted)
- —
- EBITDA
- $4.00B
- Operating Income
- $2.83B
Balance Sheet
As of Sep 30, 2026- Cash and cash equivalents
- $1.84B
- Total Debt
- $7.07B
- Net Debt
- $5.23B
- Total Assets
- $26.1B
- Total Liabilities
- $14.9B
- Shareholders' Equity
- $11.1B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $2.63B
- Capital Expenditure
- $1.03B
- Free Cash Flow
- $1.60B
Dividends and risk
Last 12 months- Dividend Yield
- 1.9%
- Dividend / Share
- $0.68
- Beta (5Y)
- 0.84
Every ratio is calculated from the company’s reported figures.
Note
Revenue is roughly flat year over year at $22.5B.
Note
Net margin of 8.9% over the last 12 months.
Note
Net debt of $5.23B is 1.3× EBITDA, a manageable load.
Note
Free cash flow of $1.60B, 7.1% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 23, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K39Serious concerns
10-K for the fiscal year ended Dec 31, 2025
Filed Feb 6, 2026 · Read the filing on EDGAR
- Pre-tax income fell to $1.8 billion from $3.2 billion, about 44% lower, mainly because of $831 million in impairments and other charges.
- Charges rose sharply from $116 million in 2024 and included severance, asset write-offs, facility closures and higher legacy environmental clean-up estimates.
- Revenue fell in Latin America and Middle East/Asia but rose 12% in Europe/Africa/CIS; total revenue is not in the sections provided.
- The tax rate rose to 27.0% from 22.2%, partly from a $125 million allowance tied to the new US tax law.
Business momentum
Sharp deterioration
“we recorded a total income tax provision of $479 million on a pre-tax income of $1.8 billion, resulting in an effective tax rate of 27.0%”
Outlook
Not discussed
Financial stress
Low
“nor do we anticipate that the proposed adjustment would materially and adversely impact our ability to meet our expected uses of cash, including future capital expenditures, working capital investments, and scheduled debt repayments”
Tone against the previous report
More negative
Red flags
- Medium
Large write-down
“During the year ended December 31, 2025, we recognized a pre-tax charge of $831 million primarily related to severance costs, an impairment of assets held for sale, fixed and other assets write-offs”
Positives
Europe/Africa/CIS revenue grew 12%, helped by Norway, Romania, Congo and Namibia
“Europe/Africa/CIS revenue in 2025 was $3.4 billion, a 12% increase compared to 2024”
No cash is currently due on the IRS dispute, and it remains under appeal
“In any event, no payment of any additional tax is currently required”
Management again concluded its disclosure controls were effective
“our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of December 31, 2025”
Concerns
Lower activity in Saudi Arabia and Malaysia reduced revenue in the largest region discussed
“Middle East/Asia revenue in 2025 was $5.8 billion, a 4% decrease compared to 2024, resulting from lower activity across multiple product service lines in Saudi Arabia and Malaysia.”
Latin America revenue fell 7% on weaker activity in Mexico and lower sales in Brazil
“Latin America revenue in 2025 was $3.9 billion, a 7% decrease compared to 2024, resulting from lower activity across multiple product service lines in Mexico and lower completion tool sales in Brazil.”
Bad-debt allowance rose to $805 million, mostly owed by its main Venezuelan customer
“At December 31, 2025, our allowance for credit losses totaled $805 million or 14.9% of notes and accounts receivable before the allowance.”
New risks since the previous report
New US tax law limits the use of foreign tax credits, adding a $125 million allowance
“the additional valuation allowance recognized in the amount of $125 million on our deferred tax assets which resulted from the impact on the realizability of our FTC carryforward”
Loans to an Argentine third party are losing value as the borrower's finances worsen
“we recorded a loss of $23 million and $38 million, respectively, resulting from the deterioration in the outlook of the debtor’s liquidity and financial projections”
Argentine currency controls limit access to US dollars and moving cash out of the country
“The Central Bank of Argentina maintains currency controls that limit our ability to access U.S. dollars in Argentina and remit cash from our Argentine operations.”
Biggest risks named
- IRS dispute that could mean about $640 million in cash taxes
- More asset write-downs if oil prices fall and stay low
- Customers failing to pay, especially in Venezuela
- Falling activity in Saudi Arabia, Mexico and other key markets
- Currency controls and swings, especially in Argentina
Artificial intelligence in this business: Not mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −15 | |
| Outlook | 0 | |
| Tone against the previous report | −2 | |
| Financial stress | 0 | |
| Red flags | −3 | |
| New risks | −1.5 | |
| Score | 39 | |
Written by AI (Claude Opus 5.5) from the report’s text. 12 of 12 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 23, 2026 | Pro | |||
| 10-K | Feb 6, 2026 | 39 | Sharp deterioration | 1 medium | |
| 10-K | Feb 12, 2025 | 62 | Stable | None | |
| 10-K | Feb 6, 2024 | 60 | Stable | 1 medium | |
| 10-K | Feb 7, 2023 | 62 | Stable | None | |
| 10-K | Feb 4, 2022 | 62 | Stable | None | |
| 10-K | Feb 5, 2021 | 40 | Sharp deterioration | 1 medium1 minor | |
| 10-K | Feb 11, 2020 | 60 | Stable | None | |
| 10-K | Feb 13, 2019 | 65 | Strong improvement | 1 minor | |
| 10-K | Feb 9, 2018 | 73 | Strong improvement | 1 medium |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Sep 30, 2026), filed Oct 23, 2026. View filings on SEC EDGAR