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HALHalliburton Company
$31.84$26.6B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
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HAL logo

Halliburton Company

HAL
NYSE · Oilfield Services & Drilling
$31.84
At close - Nov 6, 4:00 PM EST - USD
Market Cap$26.6B
P/E13.2x
52W High$43.59
Volume7.17M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Margin Compression Undermines Halliburton's Cash Returns

Halliburton's quarterly revenue has stalled between $5.4B and $5.8B over the trailing ten quarters with TTM revenue down 3.3% YoY, while gross margin has eroded roughly 440 basis points from 19.3% in 2024Q2 to 14.9% in 2026Q3, suggesting structural pricing headwinds in North American pressure pumping may continue to…

GrowthContracting
ProfitabilityStrained
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

HAL price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

7/12 Beats

EPS beat 7 of last 12 quarters

02

Valuation risk

-21% Peers

P/E is 21% below peer median

03

Market leadership

RS 41 · Lag

Laggard (Underperforming 59% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Jan 20
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Gross margin has compressed approximately 440 basis points to 14.9% in 2026Q3 alongside 3.3% TTM revenue contraction and operating margin decline from 17.7% to 10.9%, indicating deteriorating pricing power that warrants further investigation.

Analyst Consensus+35.4% target
Buy(64 analysts)
48 Buy14 Hold2 Sell

The Bull Case

Upside Catalysts

Innovative technology leadership

Halliburton has a history of pioneering technologies like the cement jet mixer and continues to drive innovation in oilfield services.

Strong institutional ownership

Vanguard Group holds a significant 12.38% stake, indicating institutional confidence in Halliburton's long-term prospects.

Contrarian smart-money interest

Michael Burry's Scion Asset Management has built a $96M position, marking his largest energy bet since 2018.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
HAL+9.29%
S&P 500 (^GSPC)+7.63%
1-Year Return
HAL+18.99%
S&P 500 (^GSPC)+9.69%
3-Year Return
HAL-14.30%
S&P 500 (^GSPC)+68.45%
5-Year Return
HAL+38.83%
S&P 500 (^GSPC)+56.45%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
13.2x
Forward P/E
13.7x
EV/EBITDA40th %ile
8.1x
FCF YieldCash Flow
6.0%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
13.2x
14.0x
40th· Fair
EV/EBITDA
8.1x
8.7x
40th· Fair
Price/FCF
16.6x
15.7x
60th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$29.11-8.6%
Base (Fair)$56.26+76.7%
Bull$104.27+227.5%
$29.11 Bear$56.26 Base$104.27 Bull
Current Market Price: $31.84
Trades at a 43.4% discount to Base DCF ($56.26)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$22.18B-3.3% YoY
Net income FY25
$1.28B-48.7% YoY
Free cash flow FY25
$1.67B-31.0% YoY
Operating margin FY25
10.2%-6.5 pts YoY
ROIC (FY25)10.2%
Avg ROIC 5Y14.4%
ROE (TTM)18.4%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate7/12 (58%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Oct 20, 2026
$0.60+2.6%
vs $0.58
$5.7B+2.2%
vs $5.6B
Q3 2026
Jul 21, 2026
$0.55+2.2%
vs $0.54
$5.7B+4.0%
vs $5.5B
Q2 2026
Apr 21, 2026
$0.55+10.3%
vs $0.50
$5.4B+1.8%
vs $5.3B
Q1 2026
Jan 21, 2026
$0.69+25.2%
vs $0.55
$5.7B+4.6%
vs $5.4B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Defense World·2d ago
AIA Group Ltd Sells 43,636 Shares of Halliburton Company $HAL

AIA Group Ltd decreased its position in Halliburton Company (NYSE: HAL) by 38.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 68,579 shares of the oilfield services company's stock after selling 43,636 shares during the period. AIA Group Ltd's holdings in Halliburton were worth

Defense World·4d ago
Halliburton Company $HAL Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp decreased its position in Halliburton Company (NYSE: HAL) by 26.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,600 shares of the oilfield services company's stock after selling 46,400 shares during the period.

Business Wire·5d ago
Halliburton Introduces Agile Asset Management to Accelerate Capital Investment Decisions

HOUSTON--(BUSINESS WIRE)--Halliburton (NYSE: HAL) today introduced Agile Asset Management (AAM), an artificial intelligence (AI) powered, cloud-based Landmark solution that helps oil and gas companies evaluate development concepts and identify the optimal investment case. AAM connects subsurface, wells, facilities, and economic workflows, allowing teams to compare alternatives against corporate metrics and make traceable, data-driven decisions across the asset lifecycle.AAM uses proprietary AI t.

Zacks Investment Research·Oct 29, 2026
Halliburton Deploys ROCS Technology With Petrobras in Brazil

HAL deploys ROCS technology with PBR in Brazil, simplifying deepwater well completions by reducing equipment needs and offshore complexity.

Filtered for Halliburton CompanyMore Headlines
04

Compare before deciding

Benchmark HAL against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Halliburton Company (HAL)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
HAL logoHALHalliburton CompanyCurrent
$31.84$26.6B13.24-3.31%8.9%18.36%2.16%
SLB logoSLBSlb N.V.
$49.92$74.63B24.32-1.6%8.33%11.27%2.16%
BKR logoBKRBaker Hughes Company
$47.87$47.52B16.48-0.34%10.09%14.65%1.91%
WFRD logoWFRDWeatherford International plc
$84.43$6.05B15.05-10.79%8.64%22.39%1.17%
RES logoRESRPC, Inc.
$5.31$1.18B-35.6114.95%-1.77%-2.93%3.02%
ACDC logoACDCProFrac Holding Corp.
$3.01$544.57M-1.42-11.37%-20.39%-52.48%—

Compare HAL vs Peers

Halliburton Company (HAL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SLB

Most directly comparable listed peer for HAL.

Scale Benchmark

vs XOM

Larger-name benchmark to compare HAL against a more recognizable public peer.

Peer Set

Compare Top 5

vs SLB, BKR, WFRD, RES

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

HAL SEC Filings & Documents

Halliburton Company (HAL) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Oct 20, 2026·SEC

Material company update

Oct 15, 2026·SEC

Material company update

Jul 21, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 6, 2026·SEC

FY 2025

Feb 12, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Oct 23, 2026·SEC

FY 2026

Jul 24, 2026·SEC

FY 2026

Apr 24, 2026·SEC

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HAL Frequently Asked Questions

Halliburton Company (HAL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Halliburton Company's revenue?

Halliburton Company (HAL) reported $22.48B in revenue over the trailing twelve months. Revenue was $22.18B in fiscal year 2025. That is 59% more than the $13.95B of fiscal year 1996.

How fast is Halliburton Company growing?

Halliburton Company (HAL) grew revenue by 1.5% over the trailing twelve months, compared with the twelve months before.

Is HAL profitable?

Yes. Halliburton Company (HAL) earned $2.00B in net income over the trailing twelve months (a 8.9% net margin).

Dividend & Returns
Does HAL pay dividends?

Yes. Halliburton Company (HAL) pays a dividend that yields 2.16% at the current price, a moderate yield.

What is HAL's return on equity?

Halliburton Company (HAL) had a return on equity (ROE) of 18.4% over the trailing twelve months. That is above the market's typical 10-15%.

What is Halliburton Company's free cash flow?

Halliburton Company (HAL) generated $1.60B in free cash flow over the trailing twelve months.

What if you invested $1,000 in HAL back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →