Halliburton Company (HAL)

NYSE: HAL · USD

$35.7

+0.11 (+0.3%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-05

Our latest published analysis: HAL rated Buy

Halliburton Company's published Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$35.9 / share

Potential value

$47.8 / share

Upside to FV

+12.7%

from $35.7

Moat

6.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$26.6B
Revenue (ttm)	22.5B
Net income (ttm)	2B
EPS (ttm)	$2.39
Shares out	827.1M
P/E (trailing)	15.0x
P/E (forward)	11.4x
Dividend	$0.68 (1.90%)
Volume	8,534,512
Beta	0.84

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 22.5B
Net income (ttm): 2B
EPS (ttm): $2.39
P/E (trailing): 15.0x
P/E (forward): 11.4x
Market cap: $26.6B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$15.30B	$20.30B	$23.02B	$22.94B	$22.18B	+9.7%
Gross profit	$2.02B	$3.24B	$23.02B	$4.30B	$3.48B	+14.7%
Operating income	$1.80B	$2.71B	$4.08B	$3.82B	$2.26B	+5.9%
Net income	$1.46B	$1.57B	$2.64B	$2.50B	$1.28B	-3.1%
EPS (diluted)	$1.09	$2.16	$3.14	$2.99	$2.42	+22.1%
EBITDA	$2.65B	$3.94B	$4.08B	$5.01B	$4.12B	+11.7%
R&D	$321.0M	$345.0M	$408.0M	$426.0M	$411.0M	+6.4%
SG&A	$204.0M	$240.0M	$228.0M	$239.0M	$239.0M	+4.0%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	ホールド
ALB	Albemarle Corporation	11.4B	198.9x	1.9x	4.1%	+12.8%	+1.9%	ホールド
ANET	Arista Networks Inc.	235.7B	59.1x	22.4x	284.8%	+32.0%	+19.7%	売り
BKR	Baker Hughes Company	54.3B	18.8x	1.9x	11.7%	+7.0%	+20.1%	売り
COP	ConocoPhillips	179B	19.8x	2.8x	11.6%	+16.8%	+73.8%	ホールド
CVX	Chevron Corporation	448.9B	22.0x	2.2x	8.2%	+12.6%	+54.1%	縮小

Base and Bull scenarios

Base55%

Price target

$35.90

+12.7% from spot

The base scenario anchors our Fair value at $35.90, representing an implied return of 12.7% from $31.85 (as of 2026-10-02) with an assigned probability of 55.0%. For this scenario to hold, international contract execution must sustain modest revenue growth while operating margins expand steadily toward mid-cycle expectations as equipment is redeployed overseas. This path would be disconfirmed if North American completion softness deepens without offsetting international volume gains, or if unrecovered fleet mobilization expenses compress operating profitability. Investors will be able to verify this trajectory across upcoming quarterly reports through sequential margin performance in Completion and Production.

Moderate top-line expansion supported by low double-digit international growth outside the Middle East offsetting North American completion maturity
Gradual operating margin normalization toward mid-cycle levels via dynamic fleet relocation and high-margin software sales mix
Strict capital discipline with annual capex remaining below depreciation, sustaining strong free cash flow conversion and continuous share repurchases

Bull20%

Price target

$47.80

+50.1% from spot

The bull scenario establishes a Potential value of $47.80, offering an implied return of 50.1% from $31.85 (as of 2026-10-02) with an assessed probability of 20.0%. This pathway requires international revenue outside the Middle East to accelerate well beyond initial targets, swift resolution of regional Middle East pauses, and rapid adoption of high-margin digital solutions. The scenario would be disconfirmed if operator spending discipline caps offshore tender rates or if competitor discounting by global peers erodes market share. Confirmation of this outcome will appear over the next several quarters through accelerating international revenue and sharp sequential margin expansion.

Accelerated international contract wins across deepwater offshore and unconventional basins exceeding consensus expectations
Rapid de-escalation in Middle East concessions enabling full restoration of paused drilling and completion programs
Substantial operating margin expansion driven by premium pricing on high-specification fleets and accelerated adoption of Landmark reservoir software

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($35.90). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.8%	2.0%	2.3%	2.5%	2.8%
6.9%	$39.3	$40.5	$41.8	$43.2	$44.8
7.4%	$36.6	$37.5	$38.6	$39.7	$41.0
7.9%	$34.2	$35.0	$35.9	$36.9	$37.9
8.4%	$32.2	$32.9	$33.6	$34.4	$35.3
8.9%	$30.5	$31.1	$31.7	$32.3	$33.0

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E11.4

P25 n/aP50 n/aP75 n/a

Trailing P/E16.7

P25 n/aP50 n/aP75 n/a

ROE18.8

P25 n/aP50 n/aP75 n/a

ROIC14.4

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All HAL indicators

Market & fundamental data

Available fields

284

Groups with data

Currency

USD

Showing 284 of 284 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000045012
Company name	Halliburton Company
Country	United States
Country code	US
CUSIP number	406216101
Earnings date	2026-10-20
Earnings time	bmo
Employees	46,000
Employees change	-2,000
Employees growth	-4.17%
Enterprise value	$35.9B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1919
In index	SP500
Industry	Oil & Gas Equipment & Services
Is primary listing	Yes
Is SPAC	No
ISIN number	US4062161017
Last 10-K release date	2026-02-06
Last earnings date	2026-10-20
Last refreshed	2026-10-28
Last stock split date	2006-07-17
Last stock split type	Forward
Market cap	$29.6B
Market cap category	Large-Cap
Next earnings date	2027-01-20
Options	Yes
Price	$35.73
Price currency	USD
Sector	Energy
SIC code	1389
Stock price date	2026-10-28
Symbol	HAL
U.S. state	Texas
Website	https://www.halliburton.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	14.95x
Average P/E ratio (10Y)	46.45x
Average P/E ratio (3Y)	13.59x
Average P/E ratio (5Y)	14.75x
Earnings yield	6.68%
EV/Earnings	17.82x
EV/EBIT	12.04x
EV/EBITDA	8.61x
EV/FCF	22.28x
EV/Sales	1.59x
FCF / EV yield	4.49%
FCF yield	5.46%
Forward EV/Sales	1.53x
Forward P/E	13.07x
Forward P/S	1.26x
Graham number	26.87491
Graham upside	-24.13%
Industry forward P/E	18.08x
Industry P/E	24.43x
Lynch fair value	$59.69
Lynch upside	68.53%
P/B ratio	2.65x
P/E ratio	14.96x
P/FCF ratio	18.31x
P/OCF ratio	11.14x
P/S ratio	1.3x
PEG ratio	4.53x
Price / tangible book value	3.62x
Price/EBITDA ratio	7.08x
Sector forward P/E	10.06x
Sector P/E	15.08x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	13.18%
EBITDA margin	18.42%
Effective tax rate	15.58%
FCF margin	7.12%
Gross margin	14.82%
Operating margin	13.18%
Pretax margin	10.59%
Profit margin	8.9%
Profit per employee	$43,500
Profitable quarters	23
Profitable years	5
Revenue per employee	$488,609
ROA	7.23%
ROA (5Y)	8.22%
ROCE	14.76%
ROE	18.78%
ROE (5Y)	22.96%
ROIC	14.4%
ROIC (5Y)	16.23%
Tax / revenue	1.65%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	57.52%
EPS growth (Q)	2,400%
EPS growth (QoQ)	-21.72%
EPS growth 3Y	-6.37%
EPS growth 5Y	39.84%
EPS growth quarters	3
EPS growth years	0
FCF growth	-14.62%
FCF growth (Q)	-55.07%
FCF growth (QoQ)	-82.68%
FCF growth 3Y	-5.25%
FCF growth 5Y	6.53%
Gross profit growth	-6.93%
Gross profit growth (Q)	-4.79%
Gross profit growth 3Y	-7.39%
Gross profit growth 5Y	33.32%
Net income growth	52.87%
Net income growth (Q)	2,216.67%
Net income growth (QoQ)	-21.91%
Net income growth 3Y	-8.74%
Net income growth 5Y	38.13%
Net income growth quarters	3
Net income growth years	0
OCF growth	-18.25%
OCF growth (Q)	-24.59%
OCF growth (QoQ)	-55.34%
OCF growth 3Y	-6.44%
OCF growth 5Y	7.09%
Operating income growth	-3.64%
Operating income growth (Q)	-1.53%
Operating income growth 3Y	-9%
Operating income growth 5Y	14.75%
Revenue growth	1.53%
Revenue growth (Q)	1.84%
Revenue growth (QoQ)	-0.19%
Revenue growth 10Y	2.86%
Revenue growth 3Y	-0.56%
Revenue growth 5Y	9.53%
Revenue growth quarters	2
Revenue growth years	0

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-1B
Depreciation and amortization	$1.2B
EBIT	$3B
EBITDA	$4.1B
EPS	$2.39
FCF per share	$1.93
Financing cash flow	$-1.8B
Free cash flow	$1.6B
Gross profit	$3.3B
Income taxes	$371M
Investing cash flow	$-969M
Net borrowing	$-389M
Net cash flow	$-183M
Net income	$2B
Operating income	$3B
Revenue	$22.5B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	3.51
Book value per share	$13.44
Debt / EBITDA	1.81
Debt / equity	0.73
Debt / FCF	5.12
Goodwill	$3B
Interest coverage	7.09
Long-term assets	$13.9B
Long-term liabilities	$8.9B
Net cash (debt)	$-6.4B
Net cash / market cap	-21.69%
Net debt / EBITDA	1.54
Net debt / equity	0.57
Net debt / FCF	3.97
Piotroski F-Score	7
Property, plant and equipment	$6.2B
Shareholders' equity	$11.2B
Tangible book value	$8.1B
Tangible book value per share	$9.79
Total assets	$26.1B
Total cash	$1.8B
Total debt	$8.2B
Total liabilities	$14.9B
WACC	7.87%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.88
Current assets	$12.1B
Current liabilities	$6B
Current ratio	2.02
Inventory turnover	6.02
Net working capital	$4.7B
Quick ratio	1.22
Working capital	$6.1B
Working capital turnover	3.81

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	2.96%
Dividend growth	0%
Dividend growth (10Y)	-0.57%
Dividend growth (3Y)	4.26%
Dividend growth (5Y)	30.45%
Dividend growth years	0
Dividend payment date	2026-09-23
Dividend payment years	56
Dividend payout frequency	Quarterly
Dividend per share	$0.68
Dividend yield	1.9%
Ex-dividend date	2026-09-02
FCF payout ratio	35.15%
Last dividend	$0.17
Payout ratio	28.48%
Shareholder yield	4.88%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	-24.88%
10Y return CAGR	-0.92%
10Y total return	-8.85%
150-day SMA	$36.19
15Y price change	-8.29%
15Y return CAGR	1.17%
15Y total return	19.12%
1D price change	0.31%
1M price change	9.04%
1M total return	9.04%
1W price change	6.34%
1W total return	6.34%
1Y price change	33.28%
1Y return CAGR	36.01%
1Y total return	35.98%
20-day SMA	$33.31
200-day SMA	$35.81
20Y price change	11.1%
20Y return CAGR	2.15%
20Y total return	52.9%
3M price change	11.17%
3M total return	11.69%
3Y price change	-9.8%
3Y return CAGR	-1.15%
3Y total return	-3.42%
50-day SMA	$34.23
50-day SMA vs 200-day SMA	50under200
52-week high	$43.59
52-week high date	2026-05-20
52-week low	$24.92
52-week low date	2025-11-21
5Y price change	42.2%
5Y return CAGR	9.41%
5Y total return	56.78%
6M price change	-10.99%
6M total return	-10.2%
All-time high	$74.33
All-time high date	2014-07-23
All-time low	$1.26
All-time low date	1970-05-25
Average true range (ATR)	$1.01
Average volume	9.8M
Beta (1Y)	-0.46
Beta (2Y)	0.63
Beta (5Y)	0.84
Change from 52-week high	-18.03%
Change from 52-week low	43.38%
Change from all-time high	-51.94%
Change from all-time low	2,746.22%
Change from open	0.22%
Day's gap	0.08%
Dollar volume	$304.9M
High price	$36.01
Low price	$35.26
Monthly RSI	54.84
Open price	$35.65
Position in 52-week range	62.67%
Premarket change	0.79%
Premarket close	$35.62
Premarket price	$35.90
Premarket volume	18K
Previous close	$35.62
Price vs 150-day SMA	-1.29%
Price vs 20-day SMA	7.24%
Price vs 200-day SMA	-0.25%
Price vs 50-day SMA	4.34%
Relative volume	0.87
RSI	65.45
Sharpe ratio	0.98
Sharpe ratio (3Y)	-0.02
Sharpe ratio (5Y)	0.3
Sortino ratio	1.68
Sortino ratio (3Y)	0.13
Sortino ratio (5Y)	0.57
Volume	8.5M
Weekly RSI	53.44
YTD price change	26.4%
YTD total return	28.14%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	822.6M
Float percentage	99.45%
Shares change (QoQ)	-0.72%
Shares change (YoY)	-2.96%
Shares held by insiders	0.43%
Shares held by institutions	89.92%
Shares outstanding	827.1M
Short % of float	4.14%
Short % of shares	4.11%
Short ratio	3.1 days

Deeper analysis on HAL

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this HAL report

What is the latest published HAL stock rating?

Halliburton Company is shown with Buy in the latest published report, analyzed 2026-10-05. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full HAL analysis?

The full latest published report, analyzed 2026-10-05, lives at /stocks/HAL/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for HAL?

The latest published report analyzed 2026-10-05 gives HAL a fair value of USD 36 and a potential value of USD 48. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the HAL page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-05). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

BuyHAL · Fair value $35.9+12.7%

Read full analysis →

Halliburton Company (HAL)

Our latest published analysis: HAL rated Buy

Price

Financial snapshot

Fair-value bridge

Latest news · HAL

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All HAL indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on HAL

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	7.5
Management	9.5
Balance Sheet	7.5
Profitability	5.0
Revenue Growth	4.5
Risk Assessment	7.0
Competitive Moat	6.5
Earnings Quality	8.0
Capital Efficiency	6.5