FirmAtlas

Company handbook · HAL · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17

HAL · CIK 45012 · LATEST FILING: 10-Q JUN '26 · FILED JUL 24, 2026

HALLIBURTON COMPANY

$33.50 +0.61 (+1.85%)

Close, Oct 16, 2026 · 52-week $22–44

↗ halliburton.com

Last fiscal year

HALLIBURTON COMPANY reported revenue of $22.2B for the year ended Dec 31, 2025 (FY25), down 3.3% from FY24. Net income was $1.3B, operating cash flow $2.9B and free cash flow $1.7B. Source: 10-K filed Feb 6, 2026.

Market cap

$28.0B

P/E

17.5

EV/EBITDA

9.7x

P/B

2.5

Div yield

2.03%

ROIC

10.8%

Revenue 1Y

−3.3%/yr

EPS 1Y

−46.7%/yr

Shares 1Y

−4%

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Daily closes, split-adjusted · ratios at each fiscal year end

Company

CEOJeffrey A. Miller

HQHouston, TX

AuditorKPMG LLP

Year endsDecember

Revenue by segment · FY25

Completion And Production58%

Drilling And Evaluation42%

Compounded growth & averages

10Y

TTM

Share price

−3.3%

5.2%

−7.5%

53.5%

Upgrade to see 10 years

Share price: yearly compound rate of the traded close; the last column is the past year.

Where the cash went · FY24–FY25

$6.1B deployed

Capex $2.7B 44.2%

Acquisitions $212M 3.5%

Dividends $1.2B 19.3%

Buybacks $2.0B 33.0%

Operating cash flow over the period: $6.8B. Total debt changed by −$2M. R&D of $837M is already inside operating costs.

Sources 10-K FY25 10-Q Jun '26 All filings on EDGAR

Latest filings

Sep 16, 2026 Other announcement 8-K Jul 21, 2026 Quarterly results 8-K Jun 29, 2026 Other announcement 8-K May 20, 2026 Shareholder vote results 8-K Apr 21, 2026 Quarterly results 8-K

Growth engines

How much of the profit growth came from new investment, and how much from running the business better.

Upgrade to see 10 years

Financials

Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year

Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier

TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.

Income

FY24 FY25

TTM

Revenue

22,944

22,184−3.3%

22,373

YoY

−3.3%

Operating income

3,822

2,260−40.9%

2,559

Operating margin

16.7%

10.2%−6.5 pp

—

EBITDA

4,901

3,396−30.7%

—

EBITDA margin

21.4%

15.3%−6.1 pp

—

Interest expense

441

432−2.0%

—

Interest coverage

11.11x

7.86x−3.25x

—

Net income

2,501

1,283−48.7%

1,602

YoY

−48.7%

Net margin

10.9%

5.8%−5.1 pp

—

EPS (diluted, $)

2.88

1.54−46.7%

1.92

YoY

−46.7%

Balance sheet

FY24 FY25

TTM

Total assets

25,587

25,010−2.3%

25,828

Cash & short-term investments

2,618

2,206−15.7%

—

Accounts receivable

5,117

4,942−3.4%

—

Inventory

3,040

2,976−2.1%

—

Net PP&E

5,113

5,261+2.9%

—

Other assets

9,699

9,625−0.8%

—

Total liabilities

15,081

14,549−3.5%

14,818

Accounts payable

3,189

3,133−1.8%

—

Total debt

7,160

7,158−0.0%

7,161

Other liabilities

4,732

4,258−10.0%

—

Shareholders’ equity

10,506

10,461−0.4%

11,010

Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.

Cash flow statement · as filed

FY24 FY25

TTM

Cash from operations

3,865

2,926−24.3%

2,750

Net income

2,516

1,292−48.6%

—

Depreciation & amortization

1,079

1,136+5.3%

—

Working capital & other

270

498+84.4%

—

Cash from investing

(1,654)

(1,325)n/m

—

Capex

(1,442)

(1,254)n/m

—

PP&E sold

223

185−17.0%

—

Acquisitions

(27)

(185)n/m

—

Investments bought

(438)

(202)n/m

—

Investments sold / matured

214

444+107.5%

—

Other investing

(184)

(313)n/m

—

Cash from financing

(1,730)

(1,987)n/m

—

Debt repaid

(100)

(389)n/m

—

Dividends

(600)

(579)n/m

—

Buybacks

(1,005)

(1,007)n/m

—

Shares issued

105

98−6.7%

—

Other financing

(130)

(110)n/m

—

Net change in cash

354

(412)−216.4%

—

Free cash flow (OCF − capex)

2,423

1,672−31.0%

1,725

Where the cash went

FY24 FY25

TTM

Operating cash flow

3,865

2,926−24.3%

2,750

Reinvested in the business

1,469

1,439−2.0%

—

% of operating cash flow

38.0%

49.2%

Capex

1,442

1,254−13.0%

1,025

Acquisitions

185+585.2%

—

R&D (memo, already in costs)

426

411−3.5%

—

Free cash flow

2,423

1,672−31.0%

1,725

YoY

−31.0%

Returned to shareholders

1,605

1,586−1.2%

—

% of free cash flow

66.2%

94.9%

Dividends

600

579−3.5%

—

Buybacks

1,005

1,007+0.2%

—

Change in total debt

—

(2)

—

Cash left over

—

(101)

—

FCF conversion (FCF ÷ net income)

96.9%

130.3%+33.4 pp

—

Owner earnings

—

1,348

—

Owner earnings margin

—

6.1%

—

Buyback yield

4.3%

4.3%+0.0 pp

—

Returns & ratios

FY24 FY25

TTM

ROIC (all capital)

19.8%

10.8%−8.9 pp

—

ROIC (operating)

29.5%

16.4%−13.1 pp

—

Net debt / EBITDA

0.93x

1.46x+0.53x

—

Debt / equity

0.68x

0.68x+0.00x

—

ROE

23.8%

12.3%−11.5 pp

—

ROA

9.8%

5.1%−4.6 pp

—

ROCE

19.6%

11.6%−7.9 pp

—

NOPAT

2,973

1,649−44.6%

—

Invested capital (operating)

10,081

10,046−0.3%

—

Invested capital (all)

15,048

15,413+2.4%

—

Reinvestment rate

—

−2.1%

—

Income

Sep '25

Dec '25

Mar '26

Jun '26

Revenue

5,600

5,657

5,402

5,714

vs year-ago quarter

Operating income

356

746

679

778

Net income

589

461

534

vs year-ago quarter

Net margin

0.3%

10.4%

8.5%

9.3%

EPS (diluted, $)

0.02

0.71

0.55

0.64

vs year-ago quarter

Balance sheet

Sep '25

Dec '25

Mar '26

Jun '26

Total assets

25,164

25,010

25,142

25,828

Cash & equivalents

2,026

2,206

2,003

2,048

Total debt

7,539

7,158

7,160

7,161

Shareholders’ equity

10,203

10,461

10,780

11,010

Cash flow

Sep '25

Dec '25

Mar '26

Jun '26

Operating cash flow

488

1,165

273

824

Capex

261

337

192

235

Free cash flow

227

828

589

vs year-ago quarter