Halliburton Company (HAL) 10-Year Financial Performance & Capital Metrics

HAL • • Industrial / General

EnergyOilfield ServicesDrilling Equipment & ServicesDrilling Systems & Equipment

AboutHalliburton 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. This segment also provides electrical submersible pumps, as well as artificial lift services. The Drilling and Evaluation segment offers drilling fluid systems, performance additives, completion fluids, solids control, specialized testing equipment, and waste management services; oilfield completion, production, and downstream water and process treatment chemicals and services; drilling systems and services; wireline and perforating services consists of open-hole logging, and cased-hole and slickline; and drill bits and services comprising roller cone rock bits, fixed cutter bits, hole enlargement, and related downhole tools and services, as well as coring equipment and services. This segment also provides cloud based digital services and artificial intelligence solutions on an open architecture for subsurface insights, integrated well construction, and reservoir and production management; testing and subsea services, such as acquisition and analysis of reservoir information and optimization solutions; and project management and integrated asset management services. Halliburton Company was founded in 1919 and is based in Houston, Texas.Show more

Revenue $22.94B -0.3%
EBITDA $4.9B -3.5%
Net Income $2.5B -5.2%
EPS (Diluted) 2.83 -3.1%
Gross Margin 18.75% -1.0%
EBITDA Margin 21.36% -3.2%
Operating Margin 16.66% -6.1%
Net Margin 10.9% -4.9%
ROE 25.03% -17.4%
ROIC 17.54% -12.5%
Debt/Equity 0.83 -10.9%
Interest Coverage 8.49 +20.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 25.6%
✓Momentum leader: RS Rating 83 (top 17%)
✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 2.1%
✓Share count reduced 2.1% through buybacks
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-3.53%

5Y0.47%

3Y14.47%

TTM-4.06%

Profit (Net Income) CAGR

10Y-3.3%

5Y-

3Y19.73%

TTM-48.61%

EPS CAGR

10Y-3.66%

5Y-

3Y20.19%

TTM-47.34%

ROCE

10Y Avg4.49%

5Y Avg10.84%

3Y Avg18.98%

Latest19.8%

Peer Comparison

Drilling Systems & Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BKRBaker Hughes Company	48.32B	48.97	16.43	9.11%	10.43%	15.77%	4.25%	0.35
SLBSLB N.V.	68.57B	45.90	14.76	9.52%	10.34%	13.54%	6.52%	0.54
WFRDWeatherford International plc	6.3B	87.78	13.00	7.36%	8.15%	25.85%	7.83%	1.39
HALHalliburton Company	27.45B	32.61	11.52	-0.32%	5.91%	12.78%	8.83%	0.83
NOVNOV Inc.	6.46B	17.72	11.08	3.42%	4.37%	5.88%	14.74%	0.37
FETForum Energy Technologies, Inc.	463.65M	40.75	-3.70	10.5%	-14.58%	-38.76%	18.13%	0.85

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	23.63B	15.89B	20.62B	24B	22.41B	14.45B	15.29B	20.3B	23.02B	22.94B
Revenue Growth %	-0.28%	-0.33%	0.3%	0.16%	-0.07%	-0.36%	0.06%	0.33%	0.13%	-0%
Cost of Goods Sold+	21.11B	15.02B	18.34B	21.01B	20.12B	12.9B	13.28B	16.98B	18.66B	18.64B
COGS % of Revenue	0.89%	0.95%	0.89%	0.88%	0.9%	0.89%	0.87%	0.84%	0.81%	0.81%
Gross Profit+	2.52B	870M	2.28B	2.99B	2.29B	1.54B	2.02B	3.31B	4.36B	4.3B
Gross Margin %	0.11%	0.05%	0.11%	0.12%	0.1%	0.11%	0.13%	0.16%	0.19%	0.19%
Gross Profit Growth %	-0.54%	-0.65%	1.62%	0.31%	-0.23%	-0.32%	0.3%	0.64%	0.32%	-0.01%
Operating Expenses+	2.69B	7.64B	903M	519M	2.73B	3.98B	216M	606M	277M	479M
OpEx % of Revenue	0.11%	0.48%	0.04%	0.02%	0.12%	0.28%	0.01%	0.03%	0.01%	0.02%
Selling, General & Admin	200M	226M	256M	254M	227M	182M	204M	240M	226M	239M
SG&A % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	2.48B	7.41B	647M	265M	2.51B	3.8B	12M	366M	51M	240M
Operating Income+	-165M	-6.77B	1.37B	2.47B	-448M	-2.44B	1.8B	2.71B	4.08B	3.82B
Operating Margin %	-0.01%	-0.43%	0.07%	0.1%	-0.02%	-0.17%	0.12%	0.13%	0.18%	0.17%
Operating Income Growth %	-1.03%	-40.03%	1.2%	0.8%	-1.18%	-4.44%	1.74%	0.5%	0.51%	-0.06%
EBITDA+	1.67B	-5.27B	2.93B	4.07B	1.18B	-1.38B	2.7B	3.65B	5.08B	4.9B
EBITDA Margin %	0.07%	-0.33%	0.14%	0.17%	0.05%	-0.1%	0.18%	0.18%	0.22%	0.21%
EBITDA Growth %	-0.77%	-4.15%	1.56%	0.39%	-0.71%	-2.17%	2.96%	0.35%	0.39%	-0.04%
D&A (Non-Cash Add-back)	1.83B	1.5B	1.56B	1.61B	1.63B	1.06B	904M	940M	998M	1.08B
EBIT	-489M	-6.93B	1.39B	2.41B	-530M	-2.68B	1.78B	2.6B	3.94B	3.68B
Net Interest Income+	-447M	-639M	-593M	-554M	-569M	-505M	-520M	-463M	-497M	-353M
Interest Income	0	59M	112M	44M	23M	38M	9M	29M	81M	97M
Interest Expense	447M	698M	705M	598M	592M	543M	529M	492M	578M	450M
Other Income/Expense	-771M	-855M	-692M	-653M	-674M	-784M	-548M	-597M	-720M	-588M
Pretax Income+	-936M	-7.63B	682M	1.81B	-1.12B	-3.22B	1.25B	2.11B	3.36B	3.23B
Pretax Margin %	-0.04%	-0.48%	0.03%	0.08%	-0.05%	-0.22%	0.08%	0.1%	0.15%	0.14%
Income Tax+	-274M	-1.86B	1.13B	157M	7M	-278M	-216M	515M	701M	718M
Effective Tax Rate %	0.72%	0.76%	-0.68%	0.91%	1.01%	0.91%	1.16%	0.75%	0.78%	0.77%
Net Income+	-671M	-5.76B	-463M	1.66B	-1.13B	-2.94B	1.46B	1.57B	2.64B	2.5B
Net Margin %	-0.03%	-0.36%	-0.02%	0.07%	-0.05%	-0.2%	0.1%	0.08%	0.11%	0.11%
Net Income Growth %	-1.19%	-7.59%	0.92%	4.58%	-1.68%	-1.6%	1.49%	0.08%	0.68%	-0.05%
Net Income (Continuing)	-662M	-5.77B	-449M	1.66B	-1.13B	-2.94B	1.47B	1.59B	2.66B	2.52B
Discontinued Operations	-5M	-2M	-19M	0	0	0	0	0	0	0
Minority Interest	33M	39M	27M	22M	13M	9M	15M	29M	42M	42M
EPS (Diluted)+	-0.79	-6.69	-0.53	1.89	-1.29	-3.34	1.63	1.73	2.92	2.83
EPS Growth %	-1.19%	-7.47%	0.92%	4.57%	-1.68%	-1.59%	1.49%	0.06%	0.69%	-0.03%
EPS (Basic)	-0.79	-6.69	-0.53	1.89	-1.29	-3.34	1.63	1.74	2.93	2.83
Diluted Shares Outstanding	853M	861M	870M	877M	875M	881M	892M	908M	902M	883M
Basic Shares Outstanding	853M	861M	870M	875M	875M	881M	892M	904M	899M	882M
Dividend Payout Ratio	-	-	-	0.38%	-	-	0.11%	0.28%	0.22%	0.24%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	21.61B	11.68B	10.78B	11.15B	11.21B	9.47B	9.94B	10.95B	11.54B	12.38B
Cash & Short-Term Investments	10.08B	4.01B	2.34B	2.01B	2.27B	2.56B	3.04B	2.35B	2.26B	2.62B
Cash Only	10.08B	4.01B	2.34B	2.01B	2.27B	2.56B	3.04B	2.35B	2.26B	2.62B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	5.32B	3.92B	5.04B	5.23B	4.58B	3.07B	3.67B	4.63B	4.86B	5.12B
Days Sales Outstanding	82.12	90.11	89.14	79.62	74.55	77.6	87.49	83.21	77.07	81.4
Inventory	2.42B	2.27B	2.4B	3.03B	3.14B	2.35B	2.36B	2.92B	3.23B	3.04B
Days Inventory Outstanding	41.78	55.3	47.68	52.61	56.94	66.46	64.9	62.82	63.11	59.52
Other Current Assets	2.68B	886M	875M	881M	1.23B	1.49B	872M	1.06B	1.19B	1.61B
Total Non-Current Assets+	16.87B	15.32B	14.31B	14.83B	14.16B	11.21B	12.38B	12.3B	13.14B	13.21B
Property, Plant & Equipment	10.91B	8.53B	8.52B	8.87B	8.24B	5.11B	5.26B	5.26B	5.99B	6.13B
Fixed Asset Turnover	2.17x	1.86x	2.42x	2.70x	2.72x	2.83x	2.91x	3.86x	3.84x	3.74x
Goodwill	2.11B	2.41B	2.69B	2.83B	2.81B	2.8B	2.84B	2.83B	2.85B	2.84B
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	1.82B	2.42B	1.86B	1.75B	1.43B	1.12B	1.58B	1.58B	1.8B	1.89B
Total Assets+	36.94B	27B	25.09B	25.98B	25.38B	20.68B	22.32B	23.25B	24.68B	25.59B
Asset Turnover	0.64x	0.59x	0.82x	0.92x	0.88x	0.70x	0.69x	0.87x	0.93x	0.90x
Asset Growth %	0.15%	-0.27%	-0.07%	0.04%	-0.02%	-0.19%	0.08%	0.04%	0.06%	0.04%
Total Current Liabilities+	5.34B	4.02B	4.86B	4.8B	4.88B	4.42B	4.31B	5.34B	5.61B	6.05B
Accounts Payable	2.02B	1.76B	2.55B	3.02B	2.43B	1.57B	2.35B	3.12B	3.15B	3.19B
Days Payables Outstanding	34.9	42.88	50.82	52.43	44.11	44.51	64.68	67.07	61.56	62.44
Short-Term Debt	659M	170M	512M	36M	11M	695M	7M	0	0	381M
Deferred Revenue (Current)	1000K	1000K	1000K	0	0	0	0	0	0	0
Other Current Liabilities	2.07B	1.61B	1.31B	1.5B	1.92B	1.39B	1.15B	1.36B	1.44B	1.4B
Current Ratio	4.05x	2.90x	2.22x	2.32x	2.30x	2.14x	2.31x	2.05x	2.06x	2.05x
Quick Ratio	3.60x	2.34x	1.72x	1.69x	1.65x	1.61x	1.76x	1.50x	1.48x	1.54x
Cash Conversion Cycle	89	102.53	86	79.79	87.38	99.56	87.71	78.95	78.61	78.49
Total Non-Current Liabilities+	16.11B	13.53B	11.87B	11.64B	12.47B	11.28B	11.29B	9.93B	9.64B	8.99B
Long-Term Debt	14.69B	12.21B	10.43B	10.31B	10.32B	9.13B	9.13B	7.93B	7.64B	7.16B
Capital Lease Obligations	0	0	0	0	825M	758M	845M	791M	911M	924M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1.42B	1.31B	1.44B	1.32B	1.33B	1.39B	1.31B	1.21B	1.09B	905M
Total Liabilities	21.45B	17.58B	16.74B	16.44B	17.35B	15.7B	15.59B	15.28B	15.25B	15.04B
Total Debt+	15.35B	12.38B	10.94B	10.35B	11.36B	10.84B	10.22B	8.94B	8.81B	8.77B
Net Debt	5.27B	8.38B	8.61B	8.34B	9.09B	8.27B	7.17B	6.6B	6.54B	6.15B
Debt / Equity	0.99x	1.31x	1.31x	1.08x	1.42x	2.17x	1.52x	1.12x	0.93x	0.83x
Debt / EBITDA	9.19x	-	3.73x	2.54x	9.65x	-	3.78x	2.45x	1.73x	1.79x
Net Debt / EBITDA	3.16x	-	2.94x	2.05x	7.72x	-	2.65x	1.81x	1.29x	1.26x
Interest Coverage	-0.37x	-9.70x	1.95x	4.13x	-0.76x	-4.49x	3.40x	5.50x	7.06x	8.49x
Total Equity+	15.49B	9.42B	8.35B	9.54B	8.03B	4.98B	6.73B	7.98B	9.43B	10.55B
Equity Growth %	-0.05%	-0.39%	-0.11%	0.14%	-0.16%	-0.38%	0.35%	0.19%	0.18%	0.12%
Book Value per Share	18.17	10.94	9.60	10.88	9.17	5.66	7.54	8.79	10.46	11.95
Total Shareholders' Equity	15.46B	9.38B	8.32B	9.52B	8.01B	4.97B	6.71B	7.95B	9.39B	10.51B
Common Stock	2.68B	2.67B	2.67B	2.67B	2.67B	2.67B	2.67B	2.66B	2.66B	2.66B
Retained Earnings	20.52B	14.14B	12.67B	13.74B	11.99B	8.69B	9.71B	10.57B	12.54B	14.33B
Treasury Stock	-7.65B	-7.15B	-6.76B	-6.74B	-6.43B	-6.02B	-5.51B	-5.11B	-5.54B	-6.21B
Accumulated OCI	-363M	-454M	-469M	-355M	-362M	-362M	-183M	-230M	-331M	-353M
Minority Interest	33M	39M	27M	22M	13M	9M	15M	29M	42M	42M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.91B	-1.7B	2.47B	3.16B	2.44B	1.88B	1.91B	2.24B	3.46B	3.87B
Operating CF Margin %	0.12%	-0.11%	0.12%	0.13%	0.11%	0.13%	0.12%	0.11%	0.15%	0.17%
Operating CF Growth %	-0.28%	-1.59%	2.45%	0.28%	-0.23%	-0.23%	0.02%	0.17%	0.54%	0.12%
Net Income	-667M	-5.77B	-468M	1.66B	-1.13B	-2.94B	1.47B	1.59B	2.66B	2.52B
Depreciation & Amortization	1.83B	1.5B	1.56B	1.61B	1.63B	1.06B	904M	940M	998M	1.08B
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-224M	-1.5B	734M	-267M	-396M	-444M	-486M	70M	196M	148M
Other Non-Cash Items	944M	2.83B	1.27B	545M	2.51B	3.41B	-260M	578M	113M	225M
Working Capital Changes	1.02B	1.23B	-626M	-384M	-161M	800M	285M	-941M	-511M	-103M
Change in Receivables	1.47B	899M	-1.35B	-186M	636M	1.39B	-500M	-1.15B	-257M	-312M
Change in Inventory	153M	552M	-29M	-681M	-202M	340M	-10M	-642M	-303M	147M
Change in Payables	-603M	-219M	753M	483M	-595M	-934M	795M	852M	49M	62M
Cash from Investing+	-2.19B	-710M	-1.93B	-1.99B	-1.45B	-486M	-534M	-967M	-1.66B	-1.65B
Capital Expenditures	-2.18B	-798M	-1.37B	-2.03B	-1.53B	-728M	-799M	-1.01B	-1.38B	-1.44B
CapEx % of Revenue	0.09%	0.05%	0.07%	0.08%	0.07%	0.05%	0.05%	0.05%	0.06%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	34M	115M	85M	116M	85M	242M	183M	119M	81M	12M
Cash from Financing+	7.08B	-3.54B	-2.16B	-1.42B	-695M	-1.01B	-838M	-1.8B	-1.67B	-1.73B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-614M	-620M	-626M	-630M	-630M	-278M	-161M	-435M	-576M	-600M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	96M	-9M	-62M	-139M	-70M	-56M	-56M	-100M	-126M	-130M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	722M	-2.5B	1.09B	1.13B	915M	1.15B	1.11B	1.23B	2.08B	2.42B
FCF Margin %	0.03%	-0.16%	0.05%	0.05%	0.04%	0.08%	0.07%	0.06%	0.09%	0.11%
FCF Growth %	-0.07%	-4.46%	1.44%	0.03%	-0.19%	0.26%	-0.04%	0.11%	0.69%	0.17%
FCF per Share	0.85	-2.90	1.26	1.29	1.05	1.31	1.25	1.36	2.30	2.74
FCF Conversion (FCF/Net Income)	-4.33x	0.30x	-5.33x	1.91x	-2.16x	-0.64x	1.31x	1.43x	1.31x	1.55x
Interest Paid	380M	-659M	0	556M	534M	509M	517M	487M	460M	441M
Taxes Paid	370M	20M	0	178M	363M	300M	214M	354M	616M	538M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-4.22%	-46.26%	-5.21%	18.51%	-12.88%	-45.28%	24.88%	21.38%	30.3%	25.03%
Return on Invested Capital (ROIC)	-0.58%	-26.33%	5.93%	10.62%	-1.92%	-12.03%	9.94%	14.26%	20.05%	17.54%
Gross Margin	10.66%	5.48%	11.04%	12.44%	10.2%	10.7%	13.18%	16.32%	18.94%	18.75%
Net Margin	-2.84%	-36.27%	-2.25%	6.9%	-5.05%	-20.39%	9.53%	7.75%	11.46%	10.9%
Debt / Equity	0.99x	1.31x	1.31x	1.08x	1.42x	2.17x	1.52x	1.12x	0.93x	0.83x
Interest Coverage	-0.37x	-9.70x	1.95x	4.13x	-0.76x	-4.49x	3.40x	5.50x	7.06x	8.49x
FCF Conversion	-4.33x	0.30x	-5.33x	1.91x	-2.16x	-0.64x	1.31x	1.43x	1.31x	1.55x
Revenue Growth	-28.1%	-32.78%	29.79%	16.37%	-6.61%	-35.54%	5.88%	32.7%	13.41%	-0.32%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Completion And Production	13.68B	8.88B	13.08B	15.97B	14.03B	7.84B	8.41B	11.58B	13.69B	13.25B
Completion And Production Growth	-	-35.08%	47.23%	22.15%	-12.16%	-44.13%	7.28%	37.72%	18.19%	-3.20%
Drilling And Evaluation	9.95B	7B	7.54B	8.02B	8.38B	6.61B	6.88B	8.71B	9.33B	9.69B
Drilling And Evaluation Growth	-	-29.61%	7.68%	6.35%	4.43%	-21.14%	4.22%	26.58%	7.05%	3.90%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
North America	10.86B	6.77B	11.56B	14.43B	11.88B	5.73B	6.37B	9.6B	10.49B	9.63B
North America Growth	-	-37.64%	70.81%	24.79%	-17.65%	-51.78%	11.17%	50.64%	9.33%	-8.25%
Middle East/Asia	5.45B	4.26B	4.16B	4.55B	4.88B	4.23B	3.84B	4.81B	5.68B	6.1B
Middle East/Asia Growth	-	-21.80%	-2.46%	9.50%	7.05%	-13.17%	-9.21%	25.21%	18.00%	7.50%
Latin America	3.15B	1.86B	2.12B	2.06B	2.36B	1.67B	2.36B	3.2B	3.99B	4.21B
Latin America Growth	-	-40.93%	13.76%	-2.41%	14.48%	-29.44%	41.61%	35.35%	24.71%	5.62%
Europe/Africa/CIS	4.17B	2.99B	2.78B	2.94B	3.29B	2.81B	2.72B	2.69B	2.86B	3B
Europe/Africa/CIS Growth	-	-28.31%	-7.08%	5.90%	11.54%	-14.37%	-3.34%	-1.03%	6.32%	4.96%

Frequently Asked Questions

Valuation & Price

Halliburton Company (HAL) has a price-to-earnings (P/E) ratio of 11.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Halliburton Company (HAL) reported $22.14B in revenue for fiscal year 2024. This represents a 11% decrease from $24.83B in 2011.

Halliburton Company (HAL) saw revenue decline by 0.3% over the past year.

Yes, Halliburton Company (HAL) is profitable, generating $1.31B in net income for fiscal year 2024 (10.9% net margin).

Dividend & Returns

Yes, Halliburton Company (HAL) pays a dividend with a yield of 2.08%. This makes it attractive for income-focused investors.

Halliburton Company (HAL) has a return on equity (ROE) of 25.0%. This is excellent, indicating efficient use of shareholder capital.

Halliburton Company (HAL) generated $1.87B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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