Halliburton (HAL) AI Stock Analysis

• Market Cap: $23.59B
• Dividend Yield: 2.41%
• Average Volume (3M): 10.51M
• Price to Earnings (P/E): 18.6
• Beta (1Y): 0.89
• Revenue Growth: -4.06%
• EPS Growth: -47.41%
• Country: US
• Employees: 48,000
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): 0.58
• Shares Outstanding: 841,626,600
• 10 Day Avg. Volume: 11,770,434
• 30 Day Avg. Volume: 10,509,915
• PEG Ratio: -2.81
• Price to Book (P/B): 2.28
• Price to Sales (P/S): 1.05
• P/FCF Ratio: 9.90
• Enterprise Value/Market Cap: 1.17
• Enterprise Value/Revenue: 1.25
• Enterprise Value/Gross Profit: 7.70
• Enterprise Value/Ebitda: 7.97
• 1Y Price Target: $31.38
• Price Target Upside: 11.95% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 18
• EPS Forecast (FY): 2.27
• Revenue Forecast (FY): $21.89B

• Rating: 72 Outperform
• Price Target: $31.00 ▲(10.60% Upside)

Halliburton's overall score reflects a balanced view of its financial performance, technical indicators, valuation, and strategic initiatives. The company's stable profitability margins and strategic focus on cost reduction and technology development are significant strengths. However, challenges in revenue growth and cash flow management, along with anticipated declines in North America, present risks that need to be addressed.

Positive Factors

Technological Advancements

Halliburton's investment in advanced technologies like iCruise and Zeus electric fleets enhances operational efficiency and positions the company for long-term growth in the energy sector.

Strategic Partnerships

The partnership with VoltaGrid expands Halliburton's reach into distributed power solutions, aligning with industry trends towards sustainability and enhancing its competitive edge.

Leadership Changes

The promotion of Shannon Slocum to COO is expected to strengthen Halliburton's strategic execution and operational efficiency, leveraging his extensive experience in global operations.

Negative Factors

Revenue Growth Decline

A significant decline in revenue growth suggests challenges in maintaining market share and could impact long-term financial stability if not addressed.

Cash Flow Management

Negative free cash flow growth indicates potential liquidity issues, which could constrain Halliburton's ability to invest in growth opportunities and manage debt.

North America Revenue Decline

The anticipated decline in North America revenue reflects market challenges and could pressure Halliburton's profitability and market position in a key region.

Halliburton Business Overview & Revenue Model

Company Description

Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning. This segment also provides electrical submersible pumps, as well as artificial lift services. The Drilling and Evaluation segment offers drilling fluid systems, performance additives, completion fluids, solids control, specialized testing equipment, and waste management services; oilfield completion, production, and downstream water and process treatment chemicals and services; drilling systems and services; wireline and perforating services consists of open-hole logging, and cased-hole and slickline; and drill bits and services comprising roller cone rock bits, fixed cutter bits, hole enlargement, and related downhole tools and services, as well as coring equipment and services. This segment also provides cloud based digital services and artificial intelligence solutions on an open architecture for subsurface insights, integrated well construction, and reservoir and production management; testing and subsea services, such as acquisition and analysis of reservoir information and optimization solutions; and project management and integrated asset management services. Halliburton Company was founded in 1919 and is based in Houston, Texas.

How the Company Makes Money

Halliburton generates revenue through a diverse array of services and products tailored to the oil and gas sector. Its primary revenue streams come from drilling services, which include well construction and drilling fluids, as well as completion services, which involve technologies and equipment for well completion and production enhancement. The company also earns income from consulting and project management services that help optimize energy production. Significant partnerships with major oil companies and independent operators allow Halliburton to secure long-term contracts, which provide a steady income stream. Additionally, the company's investment in innovative technologies, such as digital solutions and automation, enhances its service offerings, positioning it to benefit from the industry's shift toward efficiency and sustainability.

Halliburton Financial Statement Overview

Summary

Halliburton's financial statements present a mixed picture. While profitability margins remain stable, the significant decline in revenue growth and free cash flow growth are areas of concern. The balance sheet is stable, but the decrease in return on equity highlights a need for improved profitability from equity. Cash flow management requires focus to enhance liquidity and support future growth.

Income Statement

Halliburton's income statement shows a mixed performance. The TTM data indicates a decline in revenue growth rate by 43.6%, which is concerning. However, the company maintains a reasonable gross profit margin of 16.2% and a net profit margin of 5.9%. The EBIT and EBITDA margins are also stable, indicating operational efficiency. Despite the revenue decline, the company has managed to keep its profitability metrics relatively stable.

Balance Sheet

The balance sheet reflects a moderate financial position. The debt-to-equity ratio is 0.84, indicating a balanced leverage position. Return on equity has decreased to 12.6% in the TTM, showing a decline in profitability from equity. The equity ratio stands at 40.5%, suggesting a stable capital structure. Overall, the balance sheet shows stability but with room for improvement in equity returns.

Cash Flow

Cash flow analysis reveals some challenges. The free cash flow growth rate is negative at -12.8%, indicating a reduction in cash generation. The operating cash flow to net income ratio is 0.54, suggesting moderate cash conversion efficiency. The free cash flow to net income ratio is 0.58, which is reasonable but shows a decline in cash flow relative to net income. Overall, cash flow management needs attention to improve liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	22.14B	22.94B	23.02B	20.30B	15.29B	14.45B
Gross Profit	3.59B	4.30B	4.36B	3.31B	2.02B	1.54B
EBITDA	3.47B	4.76B	4.94B	3.54B	2.69B	-1.62B
Net Income	1.31B	2.50B	2.64B	1.57B	1.46B	-2.94B
Balance Sheet
Total Assets	25.16B	25.59B	24.68B	23.25B	22.32B	20.68B
Cash, Cash Equivalents and Short-Term Investments	2.03B	2.62B	2.26B	2.35B	3.04B	2.56B
Total Debt	8.57B	8.77B	8.81B	8.94B	10.22B	10.84B
Total Liabilities	14.92B	15.04B	15.25B	15.28B	15.59B	15.70B
Stockholders Equity	10.20B	10.51B	9.39B	7.95B	6.71B	4.97B
Cash Flow
Free Cash Flow	1.87B	2.42B	2.08B	1.23B	1.11B	1.15B
Operating Cash Flow	3.22B	3.87B	3.46B	2.24B	1.91B	1.88B
Investing Cash Flow	-1.57B	-1.65B	-1.66B	-967.00M	-534.00M	-486.00M
Financing Cash Flow	-1.76B	-1.73B	-1.67B	-1.80B	-838.00M	-1.01B

Halliburton Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 28.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HAL, the sentiment is Positive. The current price of 28.03 is above the 20-day moving average (MA) of 27.75, above the 50-day MA of 26.70, and above the 200-day MA of 22.94, indicating a bullish trend. The MACD of 0.43 indicates Positive momentum. The RSI at 55.77 is Neutral, neither overbought nor oversold. The STOCH value of 47.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HAL.

Halliburton Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FTI	80 Outperform	$18.07B	20.03	28.72%	0.44%	11.73%	45.70%
BKR	76 Outperform	$44.70B	15.60	16.83%	2.04%	1.51%	30.09%
SLB	75 Outperform	$56.72B	14.67	15.46%	2.98%	-2.13%	-16.76%
TS	75 Outperform	$20.62B	10.28	11.69%	4.43%	-9.76%	-18.94%
NOV	72 Outperform	$5.69B	15.59	5.93%	3.24%	-1.43%	-63.13%
HAL	72 Outperform	$23.59B	18.56	12.77%	2.41%	-4.06%	-47.41%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

Halliburton Corporate Events

Halliburton Appoints New COO Amid Leadership Changes

On December 3, 2025, Halliburton announced the appointment of Jeffrey Shannon Slocum as Executive Vice President and Chief Operating Officer, effective January 1, 2026. Slocum, who has been with Halliburton since 2005, will also join the company’s board of directors, expanding it from 12 to 13 members. His extensive experience in global operations and business development is expected to bolster Halliburton’s strategic execution and operational efficiency. Concurrently, Rami Yassine will take over as President of the Eastern Hemisphere, succeeding Slocum. These leadership changes are part of Halliburton’s strategy to enhance its global operations and maintain its competitive edge in the energy sector.

Halliburton Appoints Timothy Leach to Board of Directors

On December 2, 2025, Halliburton announced the appointment of Timothy A. Leach to its board of directors, expanding the board from 11 to 12 members. Mr. Leach, who retired from ConocoPhillips in August 2025 after a 40-year career in the oil and gas industry, brings extensive experience in upstream operations and corporate governance. His leadership background is expected to enhance Halliburton’s strategic planning and value delivery to customers and shareholders.

Halliburton Reports Q3 2025 Results with $5.6B Revenue

On October 21, 2025, Halliburton announced its third-quarter results for 2025, reporting a net income of $18 million and adjusted net income of $496 million. The company achieved a revenue of $5.6 billion, with an adjusted operating margin of 13%. Halliburton highlighted its strategic initiatives, including cost-saving measures, capital budget adjustments, and equipment idling, which are expected to save $100 million per quarter. The company emphasized its commitment to technology leadership and shareholder returns, as well as its ongoing efforts to enhance operational efficiency and expand its international market presence.