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HALHalliburton Company
$32.85$27.4B
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
Live BreakoutsStock ScreenerOwnership
HAL logo

Halliburton Company

HAL
NYSE · Oilfield Services
$32.85
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$27.44B
P/E21.9x
52W High$43.59
Volume11.68M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Margin Compression Persists Amid Deleveraging Balance Sheet

Halliburton's fundamentals are strained by a persistent downcycle, with gross margins contracting 520 basis points from 19.3% in Q2 2024 to 14.1% in Q2 2026, reflecting pricing pressure and negative operating leverage. Revenue has plateaued near $5.7B, and ear...

GrowthDecelerating
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

In Line

P/E is in line with peer median

03

Market leadership

RS 41 · Lag

Laggard (Underperforming 59% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Oct 21
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

Revenue has been flat around $5.7B, but gross margin has eroded from 19.3% in Q2 2024 to 14.1% in Q2 2026, with operating income down 22% over the same period.

Analyst Consensus+31.2% target
Buy(64 analysts)
47 Buy15 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 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
HAL+12.70%
S&P 500 (^GSPC)+13.20%
1-Year Return
HAL+48.30%
S&P 500 (^GSPC)+15.98%
3-Year Return
HAL-14.15%
S&P 500 (^GSPC)+77.97%
5-Year Return
HAL+81.70%
S&P 500 (^GSPC)+71.57%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
21.9x
Forward P/EExpansion
14.0x
EV/EBITDA60th %ile
9.8x
FCF YieldCash Flow
6.1%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
21.9x
14.0x
80th· High
EV/EBITDA
9.8x
8.7x
60th· Fair
Price/FCF
16.4x
15.7x
60th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$27.91-15.0%
Base (Fair)$54.94+63.3%
Bull$103.45+214.9%
$27.91 Bear$54.94 Base$103.45 Bull
Current Market Price: $32.85
Trades at a 40.2% discount to Base DCF ($54.94)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$22.18B-3.3% YoY
Net income
$1.28B-48.7% YoY
Free cash flow
$1.67B-31.0% YoY
Operating margin
10.2%-6.5 pts YoY
ROIC (TTM)10.2%
Avg ROIC 5Y-
ROE (TTM)12.2%
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 Rate7/12 (58%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
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
Q4 2025
Oct 21, 2025
$0.58+16.3%
vs $0.50
$5.6B+3.9%
vs $5.4B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Zacks Investment Research·1d ago
Halliburton Expands Venezuela Push With Eneva & WESCA Agreements

HAL expands its Venezuela push through Eneva and WESCA agreements, targeting energy development and field evaluation opportunities.

Reuters·2d ago
Halliburton signs Venezuela energy pacts with Eneva, WESCA

Halliburton has signed memorandums of understanding with Brazilian energy company Eneva and WESCA to pursue oil ​and gas development opportunities in Venezuela, the ‌U.S. oilfield services provider said on Monday, as companies seek a potential revival of investment in the country's long-underdeveloped energy ​sector

Business Wire·2d ago
Halliburton Signs Agreements to Support Energy Development Opportunities in Venezuela

HOUSTON--(BUSINESS WIRE)--Halliburton (NYSE: HAL) announced the signing of memorandums of understanding (MOUs) with Eneva and WESCA to support energy development opportunities in Venezuela and help customers advance projects in the country's oil and gas sector. With nearly nine decades of experience in Venezuela, Halliburton helps customers advance projects through strategically located bases in the country and by established operational capabilities and local expertise. Halliburton and Eneva,.

Defense World·5d ago
Halliburton Company $HAL Shares Sold by Corient Private Wealth LP

Corient Private Wealth LP decreased its stake in Halliburton Company (NYSE: HAL) by 57.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 203,252 shares of the oilfield services company's stock after selling 278,488 shares during the quarter. Corient Private Wealth LP's holdings

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
$32.85$27.44B21.90-3.31%5.78%12.19%2.1%
SLB logoSLBSlb N.V.
$52.12$77.92B22.18-1.6%8.46%11.31%—
BKR logoBKRBaker Hughes Company
$57.26$56.84B22.02-0.34%11.17%16.11%—
WFRD logoWFRDWeatherford International plc
$84.00$6.02B14.17-10.79%7.66%21.49%—
RES logoRESRPC, Inc.
$5.72$1.27B38.1314.95%1.28%2.07%—
NCSM logoNCSMNCS Multistage Holdings, Inc.
$53.35$140.02M6.1713.64%8.46%11.07%—

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

Jul 21, 2026·SEC

Material company update

Jun 29, 2026·SEC

Material company update

May 20, 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

Jul 24, 2026·SEC

FY 2026

Apr 24, 2026·SEC

FY 2025

Oct 24, 2025·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 $22.37B in revenue for fiscal year 2025. This represents a 60% increase from $13.95B in 1996.

How fast is Halliburton Company growing?

Halliburton Company (HAL) saw revenue decline by 3.3% over the past year.

Is HAL profitable?

Yes, Halliburton Company (HAL) is profitable, generating $1.60B in net income for fiscal year 2025 (5.8% net margin).

Dividend & Returns
Does HAL pay dividends?

Yes, Halliburton Company (HAL) pays a dividend with a yield of 2.10%. This makes it attractive for income-focused investors.

What is HAL's return on equity?

Halliburton Company (HAL) has a return on equity (ROE) of 12.2%. This is reasonable for most industries.

What is Halliburton Company's free cash flow?

Halliburton Company (HAL) generated $1.73B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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

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

See returns →