HALNYSEOil & Gas Field Services, NECFiscal year ends December 31
HALLIBURTON CO
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 24, 2026
$32.98−0.52 (-1.55%)
Close on Oct 19, 2026
- Market cap
- $27.64B
- P/E (TTM)
- 17.3
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
10.2%+27.1 pts over 5 years
Net margin
5.8%+26.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -3.3% | +3.0% | +9.0% | -0.6% | |
| Operating income | -40.9% | -5.8% | – | – | |
| Net income | -48.7% | -6.5% | – | – | |
| Free cash flow | -31.0% | +10.7% | +7.7% | +8.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -46.3% | -45.4% | 12.2% | |
| Return on assets | -18.0% | -12.8% | 5.1% | |
| Current ratio | 2.90 | 2.14 | 2.04 | |
| Debt to equity | 1.32 | 1.98 | 0.68 | |
| Net debt to EBITDA | -1.59× | -5.27× | 1.46× | |
| Inventory turnover | 1.4× | – | – | |
| Capex to revenue | 5.0% | 5.0% | 5.7% | |
| Diluted shares | 861M | 881M | 853M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Halliburton generated $14.40B from operations and spent $11.30B on capital expenditure, dividends and share buybacks. 52% of that went back into the business.
Generated
$14.40B
Used
$11.30B
Capital expenditure$5.89B52%Dividends$2.35B21%Share buybacks$3.06B27%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin5.8%
×Asset turnover0.88×
×Equity multiplier2.41×
=Return on equity, FY202512.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 5.8% | 0.88× | 2.41× | 12.2% |
| FY2024 | 10.9% | 0.91× | 2.53× | 25.1% |
| FY2023 | 11.5% | 0.96× | 2.76× | 30.4% |
| FY2022 | 7.7% | 0.89× | 3.11× | 21.4% |
| FY2021 | 9.5% | 0.71× | 3.68× | 24.9% |
| FY2020 | -20.4% | 0.63× | 3.55× | -45.4% |
| FY2019 | -5.0% | 0.87× | 2.93× | -12.9% |
| FY2018 | 6.9% | 0.94× | 2.86× | 18.6% |
| FY2017 | -2.2% | 0.79× | 2.94× | -5.2% |
| FY2016 | -36.3% | 0.50× | 2.57× | -46.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.28B
- Cash generatingOperating cash flow above zero$2.93B
- Return on assets improvedROA up on the prior year10.1% → 5.0%
- Earnings backed by cashOperating cash flow above net income$2.93B vs $1.28B
- Less leverageLong-term debt to assets fell28.0% → 28.6%
- Better liquidityCurrent ratio rose2.05 → 2.04
- No dilutionShare count did not rise883M → 853M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.93 → 0.87