NYSE : HAL
Halliburton Company — Financial statements
Energy · Oil & Gas Equipment & Services · United States
Last price 35.9 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 29.69B
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Financial statements
Halliburton Company (HAL) reported revenue of 22.48B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 22.48B | 22.18B | 22.94B | 23.02B | 20.30B | 15.29B |
| Cost of Revenue | 19.14B | 18.70B | 18.64B | 18.66B | 17.05B | 13.28B |
| Gross Profit | 3.33B | 3.48B | 4.30B | 4.36B | 3.24B | 2.02B |
| Selling, General & Admin | 263.00M | 239.00M | 239.00M | 226.00M | 240.00M | 204.00M |
| Other Operating Expenses | 107.00M | 260.00M | 136.00M | 51.00M | 71.00M | |
| Operating Expenses | 370.00M | 499.00M | 375.00M | 277.00M | 240.00M | 275.00M |
| Operating Income | 2.96B | 2.98B | 3.93B | 4.08B | 3.00B | 1.74B |
| Interest Expense | -418.00M | -440.00M | -450.00M | -476.00M | -492.00M | -529.00M |
| Interest & Investment Income | 83.00M | 88.00M | 97.00M | 81.00M | 29.00M | 9.00M |
| Earnings From Equity Investments | -50.00M | -50.00M | ||||
| Currency Exchange Gain (Loss) | -34.00M | -131.00M | -30.00M | 6.00M | ||
| Other Non Operating Income (Expenses) | -102.00M | -105.00M | -155.00M | -84.00M | -62.00M | -34.00M |
| EBT Excluding Unusual Items | 2.48B | 2.48B | 3.38B | 3.47B | 2.45B | 1.19B |
| Merger & Restructuring Charges | -130.00M | -352.00M | -63.00M | |||
| Gain (Loss) on Sale of Investments | 100.00M | -17.00M | 5.00M | |||
| Gain (Loss) on Sale of Assets | -17.00M | 74.00M | ||||
| Asset Writedown | -38.00M | -339.00M | -49.00M | -100.00M | ||
| Other Unusual Items | -9.00M | 1.00M | -43.00M | -110.00M | -238.00M | -15.00M |
| Pretax Income | 2.38B | 1.77B | 3.23B | 3.36B | 2.11B | 1.25B |
| Income Tax Expense | 371.00M | 479.00M | 718.00M | 701.00M | 515.00M | -216.00M |
| Earnings From Continuing Operations | 2.01B | 1.29B | 2.52B | 2.66B | 1.59B | 1.47B |
| Net Income to Company | 2.01B | 1.29B | 2.52B | 2.66B | 1.59B | 1.47B |
| Minority Interest in Earnings | -9.00M | -9.00M | -15.00M | -24.00M | -23.00M | -11.00M |
| Net Income | 2.00B | 1.28B | 2.50B | 2.64B | 1.57B | 1.46B |
| Net Income to Common | 2.00B | 1.28B | 2.50B | 2.64B | 1.57B | 1.46B |
| Shares Outstanding (Basic) | 836.50M | 853.00M | 882.00M | 899.00M | 904.00M | 892.00M |
| Shares Outstanding (Diluted) | 836.50M | 853.00M | 883.00M | 902.00M | 908.00M | 892.00M |
| EPS (Basic) | 2.39 | 1.50 | 2.84 | 2.93 | 1.74 | 1.63 |
| EPS (Diluted) | 2.39 | 1.50 | 2.83 | 2.92 | 1.73 | 1.63 |
| Free Cash Flow | 1.60B | 1.67B | 2.42B | 2.08B | 1.23B | 1.11B |
| Free Cash Flow Per Share | 1.91 | 1.96 | 2.74 | 2.31 | 1.36 | 1.25 |
| Dividend Per Share | 0.68 | 0.68 | 0.68 | 0.64 | 0.48 | 0.18 |
| Gross Margin | 14.82% | 15.71% | 18.75% | 18.94% | 15.98% | 13.18% |
| Operating Margin | 13.18% | 13.46% | 17.11% | 17.74% | 14.79% | 11.38% |
| Profit Margin | 8.90% | 5.78% | 10.90% | 11.46% | 7.75% | 9.53% |
| Free Cash Flow Margin | 7.12% | 7.54% | 10.56% | 9.03% | 6.07% | 7.27% |
| EBITDA | 4.14B | 4.12B | 5.00B | 5.08B | 3.94B | 2.65B |
| EBITDA Margin | 18.41% | 18.58% | 21.81% | 22.07% | 19.43% | 17.29% |
| D&A For EBITDA | 1.18B | 1.14B | 1.08B | 998.00M | 940.00M | 904.00M |
| EBIT | 2.96B | 2.98B | 3.93B | 4.08B | 3.00B | 1.74B |
| EBIT Margin | 13.18% | 13.46% | 17.11% | 17.74% | 14.79% | 11.38% |
| Effective Tax Rate | 15.58% | 27.05% | 22.20% | 20.84% | 24.41% | |
| Revenue as Reported | 22.48B | 22.18B | 22.94B | 23.02B | 20.30B | 15.29B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.84B | 2.21B | 2.62B | 2.26B | 2.35B | 3.04B |
| Cash & Short-Term Investments | 1.84B | 2.21B | 2.62B | 2.26B | 2.35B | 3.04B |
| Receivables | 5.51B | 4.94B | 5.12B | 4.86B | 4.63B | 3.67B |
| Inventory | 3.27B | 2.98B | 3.04B | 3.23B | 2.92B | 2.36B |
| Other Current Assets | 1.52B | 1.27B | 1.61B | 1.19B | 1.06B | 872.00M |
| Total Current Assets | 12.14B | 11.40B | 12.38B | 11.54B | 10.95B | 9.94B |
| Property, Plant & Equipment | 6.17B | 6.36B | 6.27B | 6.11B | 5.38B | 5.34B |
| Long-Term Investments | 349.00M | |||||
| Goodwill | 3.02B | 2.94B | 2.84B | 2.85B | 2.83B | 2.84B |
| Long-Term Deferred Tax Assets | 2.38B | 2.30B | 2.34B | 2.50B | 2.64B | 2.69B |
| Other Long-Term Assets | 2.37B | 2.02B | 1.75B | 1.68B | 1.45B | 1.15B |
| Total Assets | 26.07B | 25.01B | 25.59B | 24.68B | 23.25B | 22.32B |
| Accounts Payable | 3.54B | 3.13B | 3.19B | 3.15B | 3.12B | 2.35B |
| Accrued Expenses | 1.08B | 1.06B | 1.04B | 1.06B | 983.00M | 785.00M |
| Current Portion of Long-Term Debt | 90.00M | 381.00M | ||||
| Current Portion of Leases | 276.00M | 344.00M | 307.00M | 294.00M | 250.00M | 266.00M |
| Current Income Taxes Payable | 348.00M | 375.00M | 449.00M | 390.00M | 294.00M | 261.00M |
| Other Current Liabilities | 681.00M | 678.00M | 685.00M | 718.00M | 697.00M | 641.00M |
| Total Current Liabilities | 6.01B | 5.59B | 6.05B | 5.61B | 5.34B | 4.31B |
| Long-Term Debt | 7.07B | 7.16B | 7.16B | 7.64B | 7.93B | 9.13B |
| Long-Term Leases | 760.00M | 814.00M | 924.00M | 1.04B | 906.00M | 930.00M |
| Pension & Post-Retirement Benefits | 193.00M | 177.00M | 154.00M | 145.00M | 178.00M | |
| Other Long-Term Liabilities | 1.07B | 752.00M | 728.00M | 809.00M | 954.00M | 1.05B |
| Total Liabilities | 14.91B | 14.51B | 15.04B | 15.25B | 15.28B | 15.59B |
| Common Stock | 2.66B | 2.66B | 2.66B | 2.66B | 2.66B | 2.67B |
| Additional Paid-In Capital | 63.00M | 112.00M | 79.00M | 63.00M | 50.00M | 32.00M |
| Retained Earnings | 16.00B | 15.04B | 14.33B | 12.54B | 10.57B | 9.71B |
| Treasury Stock | -7.26B | -6.98B | -6.21B | -5.54B | -5.11B | -5.51B |
| Comprehensive Income & Other | -342.00M | -363.00M | -353.00M | -331.00M | -230.00M | -183.00M |
| Total Common Equity | 11.12B | 10.46B | 10.51B | 9.39B | 7.95B | 6.71B |
| Minority Interest | 43.00M | 44.00M | 42.00M | 42.00M | 29.00M | 15.00M |
| Shareholders' Equity | 11.16B | 10.51B | 10.55B | 9.43B | 7.98B | 6.73B |
| Total Liabilities & Equity | 26.07B | 25.01B | 25.59B | 24.68B | 23.25B | 22.32B |
| Total Debt | 8.20B | 8.32B | 8.77B | 8.97B | 9.08B | 10.32B |
| Net Cash (Debt) | -6.36B | -6.11B | -6.15B | -6.71B | -6.74B | -7.28B |
| Net Cash Per Share | -7.60 | -7.16 | -6.97 | -7.44 | -7.42 | -8.16 |
| Filing Date Shares Outstanding | 827.13M | 837.55M | 868.09M | 890.10M | 904.08M | 898.57M |
| Total Common Shares Outstanding | 827.00M | 835.00M | 868.00M | 889.00M | 902.00M | 896.00M |
| Working Capital | 6.13B | 5.81B | 6.33B | 5.93B | 5.61B | 5.64B |
| Book Value Per Share | 13.44 | 12.53 | 12.10 | 10.56 | 8.81 | 7.49 |
| Tangible Book Value | 8.10B | 7.52B | 7.67B | 6.54B | 5.12B | 3.87B |
| Tangible Book Value Per Share | 9.79 | 9.01 | 8.83 | 7.36 | 5.68 | 4.32 |
| Land | 104.00M | 119.00M | 119.00M | 117.00M | 120.00M | |
| Buildings | 1.70B | 1.75B | 1.72B | 1.67B | 1.61B | |
| Machinery | 16.08B | 15.70B | 15.12B | 14.22B | 14.04B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.00B | 1.28B | 2.50B | 2.64B | 1.57B | 1.46B |
| Depreciation & Amortization | 1.18B | 1.14B | 1.08B | 998.00M | 940.00M | 904.00M |
| Loss (Gain) From Sale of Assets | 41.00M | 224.00M | 49.00M | -74.00M | ||
| Asset Writedown & Restructuring Costs | 144.00M | 467.00M | 63.00M | 100.00M | 36.00M | |
| Loss (Gain) From Sale of Investments | -50.00M | 44.00M | -43.00M | |||
| Provision & Write-off of Bad Debts | 202.00M | |||||
| Other Operating Activities | -473.00M | -424.00M | 319.00M | 333.00M | 369.00M | -697.00M |
| Change in Accounts Receivable | -409.00M | 188.00M | -312.00M | -257.00M | -1.15B | -500.00M |
| Change in Inventory | -191.00M | 80.00M | 147.00M | -303.00M | -642.00M | -10.00M |
| Change in Accounts Payable | 390.00M | -72.00M | 62.00M | 49.00M | 852.00M | 795.00M |
| Operating Cash Flow | 2.63B | 2.93B | 3.87B | 3.46B | 2.24B | 1.91B |
| Capital Expenditures | -1.03B | -1.25B | -1.44B | -1.38B | -1.01B | -799.00M |
| Sale of Property, Plant & Equipment | 222.00M | 185.00M | 223.00M | 195.00M | 200.00M | 257.00M |
| Cash Acquisitions | -117.00M | -185.00M | -27.00M | -13.00M | ||
| Sale (Purchase) of Real Estate | 87.00M | |||||
| Investment in Securities | 25.00M | -1.00M | -363.00M | -361.00M | -75.00M | -5.00M |
| Other Investing Activities | -69.00M | -70.00M | -45.00M | -101.00M | -81.00M | -74.00M |
| Investing Cash Flow | -969.00M | -1.32B | -1.65B | -1.66B | -967.00M | -534.00M |
| Long-Term Debt Repaid | -389.00M | -100.00M | -305.00M | -1.24B | -700.00M | |
| Net Debt Issued (Repaid) | -389.00M | -389.00M | -100.00M | -305.00M | -1.24B | -700.00M |
| Issuance of Common Stock | 98.00M | 98.00M | 105.00M | 136.00M | 229.00M | 79.00M |
| Repurchase of Common Stock | -808.00M | -1.01B | -1.00B | -800.00M | -250.00M | |
| Common Dividends Paid | -569.00M | -579.00M | -600.00M | -576.00M | -435.00M | -161.00M |
| Other Financing Activities | -139.00M | -110.00M | -130.00M | -126.00M | -100.00M | -56.00M |
| Financing Cash Flow | -1.81B | -1.99B | -1.73B | -1.67B | -1.80B | -838.00M |
| Foreign Exchange Rate Adjustments | -37.00M | -26.00M | -127.00M | -210.00M | -175.00M | -58.00M |
| Net Cash Flow | -183.00M | -412.00M | 354.00M | -82.00M | -698.00M | 481.00M |
| Free Cash Flow | 1.60B | 1.67B | 2.42B | 2.08B | 1.23B | 1.11B |
| Free Cash Flow Margin | 7.12% | 7.54% | 10.56% | 9.03% | 6.07% | 7.27% |
| Free Cash Flow Per Share | 1.91 | 1.96 | 2.74 | 2.31 | 1.36 | 1.25 |
| Levered Free Cash Flow | 1.63B | 2.14B | 1.60B | 1.64B | 1.07B | 1.68B |
| Unlevered Free Cash Flow | 1.89B | 2.41B | 1.88B | 1.94B | 1.37B | 2.01B |
| Cash Interest Paid | 416.00M | 432.00M | 441.00M | 460.00M | 487.00M | 517.00M |
| Cash Income Tax Paid | 473.00M | 639.00M | 538.00M | 616.00M | 354.00M | 214.00M |
| Change in Working Capital | -210.00M | 196.00M | -103.00M | -511.00M | -941.00M | 285.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 29.92B | 23.78B | 23.89B | 32.36B | 35.73B | 20.47B |
| Enterprise Value | 36.27B | 30.37B | 30.46B | 39.26B | 42.73B | 28.15B |
| Last Close Price | 36.17 | 27.88 | 26.05 | 33.91 | 36.26 | 20.78 |
| PE Ratio | 15.15 | 18.54 | 9.55 | 12.27 | 22.73 | 14.05 |
| Forward PE | 13.24 | 13.23 | 9.37 | 10.96 | 14.17 | 14.76 |
| PS Ratio | 1.33 | 1.07 | 1.04 | 1.41 | 1.76 | 1.34 |
| PB Ratio | 2.69 | 2.26 | 2.27 | 3.43 | 4.48 | 3.04 |
| P/TBV Ratio | 3.69 | 3.16 | 3.12 | 4.95 | 6.98 | 5.29 |
| P/FCF Ratio | 18.70 | 14.22 | 9.86 | 15.56 | 29.03 | 18.41 |
| P/OCF Ratio | 11.38 | 8.13 | 6.18 | 9.36 | 15.94 | 10.71 |
| PEG Ratio | 4.60 | 3.48 | 3.48 | 0.52 | 0.27 | 0.42 |
| EV/Sales Ratio | 1.61 | 1.37 | 1.33 | 1.71 | 2.10 | 1.84 |
| EV/EBITDA Ratio | 8.76 | 7.37 | 6.09 | 7.73 | 10.84 | 10.64 |
| EV/EBIT Ratio | 12.25 | 10.17 | 7.76 | 9.62 | 14.23 | 16.17 |
| EV/FCF Ratio | 22.67 | 18.16 | 12.57 | 18.88 | 34.71 | 25.32 |
| Debt / Equity Ratio | 0.73 | 0.79 | 0.83 | 0.95 | 1.14 | 1.53 |
| Debt / EBITDA Ratio | 1.81 | 1.84 | 1.63 | 1.65 | 2.13 | 3.51 |
| Debt / FCF Ratio | 5.12 | 4.97 | 3.62 | 4.32 | 7.38 | 9.28 |
| Net Debt / Equity Ratio | 0.57 | 0.58 | 0.58 | 0.71 | 0.84 | 1.08 |
| Net Debt / EBITDA Ratio | 1.53 | 1.48 | 1.23 | 1.32 | 1.71 | 2.75 |
| Net Debt / FCF Ratio | 3.97 | 3.65 | 2.54 | 3.23 | 5.47 | 6.55 |
| Asset Turnover | 0.88 | 0.88 | 0.91 | 0.96 | 0.89 | 0.71 |
| Inventory Turnover | 6.02 | 6.22 | 5.95 | 6.07 | 6.46 | 5.64 |
| Quick Ratio | 1.22 | 1.28 | 1.28 | 1.27 | 1.30 | 1.56 |
| Current Ratio | 2.02 | 2.04 | 2.05 | 2.06 | 2.05 | 2.31 |
| Return on Equity (ROE) | 18.78% | 12.27% | 25.18% | 30.58% | 21.69% | 25.07% |
| Return on Assets (ROA) | 7.23% | 7.37% | 9.76% | 10.65% | 8.24% | 5.06% |
| Return on Invested Capital (ROIC) | 14.40% | 13.07% | 18.60% | 20.95% | 15.81% | 12.71% |
| Return on Capital Employed (ROCE) | 14.80% | 15.40% | 20.10% | 21.40% | 16.80% | 9.70% |
| Earnings Yield | 6.60% | 5.39% | 10.47% | 8.15% | 4.40% | 7.12% |
| FCF Yield | 5.35% | 7.03% | 10.14% | 6.42% | 3.45% | 5.43% |
| Dividend Yield | 1.88% | 2.39% | 2.47% | 1.76% | 1.21% | 0.79% |
| Payout Ratio | 28.48% | 45.13% | 23.99% | 21.83% | 27.67% | 11.05% |
| Buyback Yield / Dilution | 2.96% | 3.40% | 2.11% | 0.66% | -1.79% | -1.25% |
| Total Shareholder Return | 4.84% | 5.79% | 4.58% | 2.42% | -0.58% | -0.46% |