Halliburton Company (HAL) Financial Ratios
30 years of historical data (1996–2025) · Energy · Oil & Gas Equipment & Services
EV/EBITDA
↓
12.00
↑+35% vs avg
5yr avg: 8.88
30Y Low3.8·High25.9
P/FCF
↓
20.84
+20% vs avg
5yr avg: 17.43
30Y Low3.8·High139.8
P/B Ratio
↓
3.34
+8% vs avg
5yr avg: 3.10
30Y Low1.2·High5.2
ROE
↓
12.2%
↑-46% vs avg
5yr avg: 22.8%
30Y Low-46%·High47%
Debt/EBITDA
↓
2.39
↓-1% vs avg
5yr avg: 2.43
30Y Low0.2·High9.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HAL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Halliburton Company trades at 27.8x earnings, 79% above its 5-year average of 15.5x, sitting at the 86th percentile of its historical range. Compared to the Energy sector median P/E of 17.1x, the stock trades at a premium of 63%. On a free-cash-flow basis, the stock trades at 20.8x P/FCF, 20% above the 5-year average of 17.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $34.8B | $23.7B | $24.0B | $32.6B | $35.7B | $20.4B | $16.7B | $21.4B | $23.3B | $42.5B | $46.6B |
| Enterprise Value | $40.8B | $29.7B | $30.2B | $39.2B | $42.3B | $27.6B | $24.9B | $30.5B | $31.7B | $51.1B | $54.9B |
| P/E Ratio → | 27.81 | 18.84 | 9.61 | 12.38 | 22.75 | 14.03 | — | — | 14.06 | — | — |
| P/S Ratio | 1.57 | 1.07 | 1.05 | 1.42 | 1.76 | 1.33 | 1.15 | 0.96 | 0.97 | 2.06 | 2.93 |
| P/B Ratio | 3.34 | 2.26 | 2.28 | 3.46 | 4.48 | 3.03 | 3.34 | 2.67 | 2.44 | 5.09 | 4.94 |
| P/FCF | 20.84 | 14.20 | 9.91 | 15.68 | 29.03 | 18.35 | 14.44 | 23.40 | 20.61 | 38.83 | — |
| P/OCF | 11.91 | 8.11 | 6.21 | 9.43 | 15.94 | 10.68 | 8.85 | 8.76 | 7.38 | 17.23 | — |
P/E links to full P/E history page with 30-year chart
HAL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Halliburton Company's enterprise value stands at 12.0x EBITDA, 35% above its 5-year average of 8.9x. The Energy sector median is 8.0x, placing the stock at a 49% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.34 | 1.31 | 1.70 | 2.09 | 1.80 | 1.73 | 1.36 | 1.32 | 2.48 | 3.46 |
| EV / EBITDA | 12.00 | 8.74 | 6.15 | 7.71 | 11.61 | 10.20 | — | 25.92 | 7.77 | 17.45 | — |
| EV / EBIT | 18.04 | 9.94 | 7.68 | 9.59 | 14.09 | 15.84 | 43.20 | 20.60 | 11.59 | 25.30 | 85.32 |
| EV / FCF | — | 17.74 | 12.45 | 18.83 | 34.38 | 24.80 | 21.62 | 33.34 | 27.98 | 46.69 | — |
HAL Profitability
Margins and return-on-capital ratios measuring operating efficiency
Halliburton Company earns an operating margin of 10.2%, below the Energy sector average of 14.4%. Operating margins have compressed from 17.7% to 10.2% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 12.2% is modest. ROIC of 10.2% represents solid returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.7% | 15.7% | 18.7% | 18.9% | 16.0% | 13.2% | 7.2% | 10.2% | 12.4% | 11.0% | 5.5% |
| Operating Margin | 10.2% | 10.2% | 16.7% | 17.7% | 13.3% | 11.8% | -16.9% | -2.0% | 10.3% | 6.7% | -42.6% |
| Net Profit Margin | 5.8% | 5.8% | 10.9% | 11.5% | 7.7% | 9.5% | -20.4% | -5.0% | 6.9% | -2.2% | -36.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.2% | 12.2% | 25.0% | 30.3% | 21.4% | 24.9% | -45.3% | -12.9% | 18.5% | -5.2% | -46.3% |
| ROA | 5.1% | 5.1% | 10.0% | 11.0% | 6.9% | 6.8% | -12.8% | -4.4% | 6.5% | -1.8% | -18.0% |
| ROIC | 10.2% | 10.2% | 17.5% | 20.0% | 14.3% | 9.9% | -12.0% | -1.9% | 10.6% | 5.9% | -26.3% |
| ROCE | 11.6% | 11.6% | 19.8% | 22.1% | 15.1% | 10.5% | -13.3% | -2.1% | 11.9% | 6.4% | -24.8% |
HAL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Halliburton Company carries a Debt/EBITDA ratio of 2.4x, which is manageable (roughly in line with the sector average of 2.4x). Net debt stands at $5.9B ($8.1B total debt minus $2.2B cash). Interest coverage of 8.5x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.77 | 0.77 | 0.83 | 0.93 | 1.12 | 1.52 | 2.17 | 1.42 | 1.08 | 1.31 | 1.31 |
| Debt / EBITDA | 2.39 | 2.39 | 1.79 | 1.73 | 2.45 | 3.78 | — | 9.65 | 2.54 | 3.73 | — |
| Net Debt / Equity | — | 0.56 | 0.58 | 0.69 | 0.83 | 1.07 | 1.66 | 1.13 | 0.87 | 1.03 | 0.89 |
| Net Debt / EBITDA | 1.75 | 1.75 | 1.26 | 1.29 | 1.81 | 2.65 | — | 7.72 | 2.05 | 2.94 | — |
| Debt / FCF | — | 3.54 | 2.54 | 3.15 | 5.36 | 6.45 | 7.18 | 9.94 | 7.37 | 7.86 | — |
| Interest Coverage | 8.48 | 8.48 | 11.12 | 7.06 | 6.10 | 3.29 | 1.06 | 2.50 | 4.57 | 2.87 | 0.92 |
HAL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Halliburton Company's current ratio of 2.04x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.51x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.04 | 2.04 | 2.05 | 2.06 | 2.05 | 2.31 | 2.14 | 2.30 | 2.32 | 2.22 | 2.90 |
| Quick Ratio | 1.51 | 1.51 | 1.54 | 1.48 | 1.50 | 1.76 | 1.61 | 1.65 | 1.69 | 1.72 | 2.34 |
| Cash Ratio | 0.39 | 0.39 | 0.43 | 0.40 | 0.44 | 0.71 | 0.58 | 0.46 | 0.42 | 0.48 | 1.00 |
| Asset Turnover | — | 0.89 | 0.90 | 0.93 | 0.87 | 0.69 | 0.70 | 0.88 | 0.92 | 0.82 | 0.59 |
| Inventory Turnover | 6.28 | 6.28 | 6.13 | 5.78 | 5.83 | 5.62 | 5.71 | 6.41 | 6.94 | 7.66 | 6.60 |
| Days Sales Outstanding | — | 81.31 | 81.40 | 77.07 | 83.21 | 87.49 | 77.60 | 74.55 | 79.62 | 89.14 | 90.11 |
HAL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Halliburton Company returns 4.5% to shareholders annually — split between a 1.7% dividend yield and 2.9% buyback yield. A payout ratio of 45.1% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 3.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.7% | 2.4% | 2.5% | 1.8% | 1.2% | 0.8% | 1.7% | 2.9% | 2.7% | 1.5% | 1.3% |
| Payout Ratio | 45.1% | 45.1% | 24.0% | 21.8% | 27.7% | 11.1% | — | — | 38.0% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.6% | 5.3% | 10.4% | 8.1% | 4.4% | 7.1% | — | — | 7.1% | — | — |
| FCF Yield | 4.8% | 7.0% | 10.1% | 6.4% | 3.4% | 5.5% | 6.9% | 4.3% | 4.9% | 2.6% | — |
| Buyback Yield | 2.9% | 4.2% | 4.2% | 2.5% | 0.7% | 0.0% | 0.6% | 0.5% | 1.7% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.5% | 6.7% | 6.7% | 4.2% | 1.9% | 0.8% | 2.3% | 3.4% | 4.4% | 1.5% | 1.3% |
| Shares Outstanding | — | $840M | $883M | $902M | $908M | $892M | $881M | $875M | $877M | $870M | $861M |
Peer Comparison
Compare HAL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HALYou | $35B | 27.8 | 12.0 | 20.8 | 15.7% | 10.2% | 12.2% | 10.2% | 2.4 |
 SLB | $84B | 23.8 | 12.7 | 17.5 | 18.2% | 15.3% | 13.5% | 12.1% | 1.7 |
 BKR | $67B | 26.1 | 14.9 | 26.5 | 23.6% | 12.8% | 14.4% | 12.7% | 1.5 |
 WFRD | $8B | 18.3 | 8.3 | 17.3 | 21.7% | 15.4% | 28.9% | 24.9% | 1.7 |
 RES | $2B | 52.0 | 7.4 | 32.7 | 14.3% | 3.5% | 2.9% | 4.8% | 0.4 |
 NCSM | $109M | 4.8 | 4.8 | 5.2 | 38.2% | 6.4% | 18.3% | 7.9% | 0.7 |
 ACDC | $1B | -3.3 | 8.8 | 69.4 | 3.7% | -6.9% | -37.7% | -4.6% | 4.0 |
 LBRT | $5B | 37.9 | 10.8 | 387.2 | 11.4% | 2.0% | 7.3% | 2.3% | 1.5 |
 PUMP | $2B | 2129.5 | 11.3 | 47.9 | 9.9% | 1.5% | 0.1% | 1.4% | 1.3 |
 NINE | $436M | -8.0 | 340.7 | — | — | — | — | 0.7% | 163.0 |
 XOM | $656B | 23.1 | 11.5 | 27.8 | 21.7% | 10.5% | 10.7% | 8.6% | 0.7 |
| Energy Median | — | 17.1 | 8.0 | 13.8 | 33.2% | 14.4% | 8.5% | 6.3% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full HAL Stock Analysis
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Start ComparisonHAL — Frequently Asked Questions
Quick answers to the most common questions about buying HAL stock.
What is Halliburton Company's P/E ratio?
Halliburton Company's current P/E ratio is 27.8x. The historical average is 17.9x. This places it at the 86th percentile of its historical range.
What is Halliburton Company's EV/EBITDA?
Halliburton Company's current EV/EBITDA is 12.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.0x.
What is Halliburton Company's ROE?
Halliburton Company's return on equity (ROE) is 12.2%. The historical average is 10.3%.
Is HAL stock overvalued?
Based on historical data, Halliburton Company is trading at a P/E of 27.8x. This is at the 86th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Halliburton Company's dividend yield?
Halliburton Company's current dividend yield is 1.65% with a payout ratio of 45.1%.
What are Halliburton Company's profit margins?
Halliburton Company has 15.7% gross margin and 10.2% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Halliburton Company have?
Halliburton Company's Debt/EBITDA ratio is 2.4x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.