What is Halliburton's earnings per share (EPS)?

Halliburton (HAL) reported diluted earnings per share of $1.50 for fiscal year 2025. This represents a -47.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Halliburton Financials

HAL

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Halliburton (HAL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI HAL FY2025 2026-04-24

Halliburton's recent pattern is a cash-generative but margin-sensitive operating model paired with steady balance-sheet repair and disciplined payouts.

Across the last two valid years, revenue slipped only 3.6% while operating income fell 44.6%. Because operating cash flow declined a milder 15.4%, margin compression hurt accounting earnings far more than cash generation, which makes cash conversion quality stronger than the income statement alone suggests.

In the latest year, $2.9B of operating cash flow still became $1.7B of free cash flow. That points to a moderately capital-intensive model: equipment and upkeep matter, but reinvestment is not swallowing the cash the business produces in softer markets.

Over the last three years, long-term debt fell from $9.1B to $7.2B as equity steadily expanded. With debt-to-equity now at 0.7x and buybacks near $1.0B in each of the last two years, balance-sheet repair and shareholder payouts have been financed from internally generated cash rather than added leverage.

Financial Health Signals

Financial Health Score 61/100

Scored as: Energy peer group

Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Halliburton's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Growth

Leverage

Liquidity

Cash Flow

Returns

Altman Z-Score Safe

3.46

Halliburton scores 3.46, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

4/8

Halliburton passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.28x

For every $1 of reported earnings, Halliburton generates $2.28 in operating cash flow ($2.9B OCF vs $1.3B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$22.2B

YoY-3.3%

5Y CAGR+9.0%

10Y CAGR-0.6%

Halliburton generated $22.2B in revenue in fiscal year 2025. This represents a decrease of 3.3% from the prior year.

EBITDA

$3.4B

YoY-30.7%

10Y CAGR+7.4%

Halliburton's EBITDA was $3.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 30.7% from the prior year.

Net Income

$1.3B

YoY-48.7%

Halliburton reported $1.3B in net income in fiscal year 2025. This represents a decrease of 48.7% from the prior year.

EPS (Diluted)

$1.50

YoY-47.0%

Halliburton earned $1.50 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 47.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$1.7B

YoY-31.0%

5Y CAGR+7.7%

10Y CAGR+8.8%

Halliburton generated $1.7B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 31.0% from the prior year.

Cash & Debt

$2.2B

YoY-15.7%

5Y CAGR-3.0%

10Y CAGR-14.1%

Halliburton held $2.2B in cash against $7.2B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

838M

YoY-3.5%

5Y CAGR-1.2%

10Y CAGR-0.2%

Halliburton had 838M shares outstanding in fiscal year 2025. This represents a decrease of 3.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

10.2%

YoY-6.5pp

5Y CAGR+27.1pp

10Y CAGR+10.9pp

Halliburton's operating margin was 10.2% in fiscal year 2025, reflecting core business profitability. This is down 6.5 percentage points from the prior year.

Net Margin

5.8%

YoY-5.1pp

5Y CAGR+26.2pp

10Y CAGR+8.6pp

Halliburton's net profit margin was 5.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.1 percentage points from the prior year.

Return on Equity

12.3%

YoY-11.6pp

5Y CAGR+71.5pp

10Y CAGR+16.6pp

Halliburton's ROE was 12.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 11.6 percentage points from the prior year.

Capital Allocation

R&D Spending

$411.0M

YoY-3.5%

5Y CAGR+5.9%

10Y CAGR-1.7%

Halliburton invested $411.0M in research and development in fiscal year 2025. This represents a decrease of 3.5% from the prior year.

Share Buybacks

$1.0B

YoY+0.2%

5Y CAGR+58.7%

Halliburton spent $1.0B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 0.2% from the prior year.

Capital Expenditures

$1.3B

YoY-13.0%

5Y CAGR+11.5%

10Y CAGR-5.4%

Halliburton invested $1.3B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 13.0% from the prior year.

HAL Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$22.2B-3.3%	$22.9B-0.3%	$23.0B+13.4%	$20.3B+32.7%	$15.3B+5.9%	$14.4B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$411.0M-3.5%	$426.0M+4.4%	$408.0M+18.3%	$345.0M+7.5%	$321.0M+3.9%	$309.0M
SG&A Expenses	$239.0M0.0%	$239.0M+5.8%	$226.0M-5.8%	$240.0M+17.6%	$204.0M+12.1%	$182.0M
Operating Income	$2.3B-40.9%	$3.8B-6.4%	$4.1B+50.8%	$2.7B+50.4%	$1.8B+173.9%	-$2.4B
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$479.0M-33.3%	$718.0M+2.4%	$701.0M+36.1%	$515.0M+338.4%	-$216.0M+22.3%	-$278.0M
Net Income	$1.3B-48.7%	$2.5B-5.2%	$2.6B+67.8%	$1.6B+7.9%	$1.5B+149.5%	-$2.9B
EPS (Diluted)	$1.50-47.0%	$2.83-3.1%	$2.92+68.8%	$1.73+6.1%	$1.63+148.8%	$-3.34

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$5.4B-4.5%	$5.7B+1.0%	$5.6B+1.6%	$5.5B+1.7%	$5.4B-3.4%	$5.6B-1.5%	$5.7B-2.3%	$5.8B
Cost of Revenue	$3.4B	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$457.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$62.0M+5.1%	$59.0M+1.7%	$58.0M-3.3%	$60.0M-3.2%	$62.0M+1.6%	$61.0M+10.9%	$55.0M-11.3%	$62.0M
Operating Income	$679.0M-9.0%	$746.0M+109.6%	$356.0M-51.0%	$727.0M+68.7%	$431.0M-53.8%	$932.0M+7.0%	$871.0M-15.6%	$1.0B
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$105.0M+128.3%	$46.0M-76.9%	$199.0M+51.9%	$131.0M+27.2%	$103.0M-42.5%	$179.0M+16.2%	$154.0M-25.6%	$207.0M
Net Income	$461.0M-21.7%	$589.0M+3172.2%	$18.0M-96.2%	$472.0M+131.4%	$204.0M-66.8%	$615.0M+7.7%	$571.0M-19.5%	$709.0M
EPS (Diluted)	$0.55	N/A	$0.02-96.4%	$0.55+129.2%	$0.24	N/A	$0.65-18.8%	$0.80

HAL Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$25.0B-2.3%	$25.6B+3.7%	$24.7B+6.1%	$23.3B+4.2%	$22.3B+7.9%	$20.7B
Current Assets	$11.4B-7.9%	$12.4B+7.3%	$11.5B+5.4%	$11.0B+10.1%	$9.9B+4.9%	$9.5B
Cash & Equivalents	$2.2B-15.7%	$2.6B+15.6%	$2.3B-3.5%	$2.3B-22.9%	$3.0B+18.8%	$2.6B
Inventory	$3.0B-2.1%	$3.0B-5.8%	$3.2B+10.4%	$2.9B+23.8%	$2.4B+0.5%	$2.3B
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$2.9B+3.5%	$2.8B-0.4%	$2.9B+0.7%	$2.8B-0.5%	$2.8B+1.4%	$2.8B
Total Liabilities	$14.5B-3.6%	$15.0B-1.4%	$15.3B-0.2%	$15.3B-2.0%	$15.6B-0.7%	$15.7B
Current Liabilities	$5.6B-7.6%	$6.0B+7.9%	$5.6B+4.9%	$5.3B+24.1%	$4.3B-2.6%	$4.4B
Long-Term Debt	$7.2B0.0%	$7.2B-6.2%	$7.6B-3.7%	$7.9B-13.1%	$9.1B-0.1%	$9.1B
Total Equity	$10.5B-0.4%	$10.5B+11.9%	$9.4B+18.2%	$7.9B+18.4%	$6.7B+35.0%	$5.0B
Retained Earnings	$15.0B+4.9%	$14.3B+14.3%	$12.5B+18.6%	$10.6B+8.9%	$9.7B+11.7%	$8.7B

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$25.1B+0.5%	$25.0B-0.6%	$25.2B-0.8%	$25.4B+0.8%	$25.2B-1.6%	$25.6B+1.0%	$25.3B+0.7%	$25.2B
Current Assets	$11.5B+1.2%	$11.4B-2.1%	$11.6B-0.3%	$11.7B+1.2%	$11.5B-6.9%	$12.4B+2.8%	$12.0B+1.4%	$11.9B
Cash & Equivalents	$2.0B-9.2%	$2.2B+8.9%	$2.0B-0.6%	$2.0B+13.0%	$1.8B-31.1%	$2.6B+20.2%	$2.2B+1.9%	$2.1B
Inventory	$3.0B+1.4%	$3.0B-3.8%	$3.1B+0.8%	$3.1B+0.9%	$3.0B+0.1%	$3.0B-4.8%	$3.2B-2.7%	$3.3B
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$3.0B+1.8%	$2.9B0.0%	$2.9B-0.9%	$3.0B+2.5%	$2.9B+1.9%	$2.8B0.0%	$2.8B-0.7%	$2.9B
Total Liabilities	$14.3B-1.3%	$14.5B-2.8%	$14.9B+0.6%	$14.8B+0.4%	$14.8B-1.8%	$15.0B+0.4%	$15.0B-0.8%	$15.1B
Current Liabilities	$5.5B-0.9%	$5.6B-6.1%	$6.0B+1.9%	$5.8B+0.4%	$5.8B-3.8%	$6.0B+10.8%	$5.5B-2.1%	$5.6B
Long-Term Debt	$7.1B-1.2%	$7.2B0.0%	$7.2B-0.1%	$7.2B0.0%	$7.2B0.0%	$7.2B-6.3%	$7.6B0.0%	$7.6B
Total Equity	$10.8B+3.0%	$10.5B+2.5%	$10.2B-2.9%	$10.5B+1.3%	$10.4B-1.3%	$10.5B+2.0%	$10.3B+3.0%	$10.0B
Retained Earnings	$15.4B+2.1%	$15.0B+3.1%	$14.6B-0.9%	$14.7B+2.3%	$14.4B+0.4%	$14.3B+3.4%	$13.9B+3.1%	$13.4B

HAL Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$2.9B-24.3%	$3.9B+11.8%	$3.5B+54.2%	$2.2B+17.3%	$1.9B+1.6%	$1.9B
Capital Expenditures	$1.3B-13.0%	$1.4B+4.6%	$1.4B+36.4%	$1.0B+26.5%	$799.0M+9.8%	$728.0M
Free Cash Flow	$1.7B-31.0%	$2.4B+16.5%	$2.1B+68.9%	$1.2B+10.7%	$1.1B-3.6%	$1.2B
Investing Cash Flow	-$1.3B+19.9%	-$1.7B+0.3%	-$1.7B-71.6%	-$967.0M-81.1%	-$534.0M-9.9%	-$486.0M
Financing Cash Flow	-$2.0B-14.9%	-$1.7B-3.5%	-$1.7B+7.1%	-$1.8B-114.6%	-$838.0M+16.8%	-$1.0B
Dividends Paid	$579.0M-3.5%	$600.0M+4.2%	$576.0M+32.4%	$435.0M+170.2%	$161.0M-42.1%	$278.0M
Share Buybacks	$1.0B+0.2%	$1.0B+25.6%	$800.0M+220.0%	$250.0M	$0-100.0%	$100.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$273.0M-76.6%	$1.2B+138.7%	$488.0M-45.5%	$896.0M+137.7%	$377.0M-74.1%	$1.5B+73.1%	$841.0M-22.2%	$1.1B
Capital Expenditures	$192.0M-43.0%	$337.0M+29.1%	$261.0M-26.3%	$354.0M+17.2%	$302.0M-29.1%	$426.0M+25.7%	$339.0M-2.3%	$347.0M
Free Cash Flow	$81.0M-90.2%	$828.0M+264.8%	$227.0M-58.1%	$542.0M+622.7%	$75.0M-92.7%	$1.0B+105.2%	$502.0M-31.6%	$734.0M
Investing Cash Flow	-$243.0M-22.1%	-$199.0M-131.4%	-$86.0M+66.4%	-$256.0M+67.3%	-$784.0M-76.6%	-$444.0M-1.8%	-$436.0M-10.9%	-$393.0M
Financing Cash Flow	-$237.0M+69.3%	-$771.0M-90.4%	-$405.0M0.0%	-$405.0M+0.2%	-$406.0M+25.5%	-$545.0M-57.1%	-$347.0M+16.6%	-$416.0M
Dividends Paid	$142.0M-0.7%	$143.0M-0.7%	$144.0M-0.7%	$145.0M-1.4%	$147.0M-0.7%	$148.0M-1.3%	$150.0M-0.7%	$151.0M
Share Buybacks	$100.0M-60.0%	$250.0M0.0%	$250.0M-2.7%	$257.0M+2.8%	$250.0M-19.1%	$309.0M+57.7%	$196.0M-21.6%	$250.0M

HAL Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	10.2%-6.5pp	16.7%-1.1pp	17.7%+4.4pp	13.3%+1.6pp	11.8%+28.6pp	-16.9%
Net Margin	5.8%-5.1pp	10.9%-0.6pp	11.5%+3.7pp	7.7%-1.8pp	9.5%+29.9pp	-20.4%
Return on Equity	12.3%-11.6pp	23.8%-4.3pp	28.1%+8.3pp	19.8%-1.9pp	21.7%+80.9pp	-59.2%
Return on Assets	5.1%-4.6pp	9.8%-0.9pp	10.7%+3.9pp	6.8%+0.2pp	6.5%+20.8pp	-14.2%
Current Ratio	2.040.0	2.05-0.0	2.060.0	2.05-0.3	2.31+0.2	2.14
Debt-to-Equity	0.680.0	0.68-0.1	0.81-0.2	1.00-0.4	1.36-0.5	1.84
FCF Margin	7.5%-3.0pp	10.6%+1.5pp	9.0%+3.0pp	6.1%-1.2pp	7.3%-0.7pp	8.0%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	11.9%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	12.6%-0.6pp	13.2%+6.8pp	6.4%-6.8pp	13.2%+5.2pp	8.0%-8.6pp	16.6%+1.3pp	15.3%-2.4pp	17.7%
Net Margin	8.5%-1.9pp	10.4%+10.1pp	0.3%-8.3pp	8.6%+4.8pp	3.8%-7.2pp	11.0%+0.9pp	10.0%-2.1pp	12.2%
Return on Equity	4.3%-1.4pp	5.6%+5.5pp	0.2%-4.3pp	4.5%+2.5pp	2.0%-3.9pp	5.9%+0.3pp	5.5%-1.5pp	7.1%
Return on Assets	1.8%-0.5pp	2.4%+2.3pp	0.1%-1.8pp	1.9%+1.0pp	0.8%-1.6pp	2.4%+0.2pp	2.3%-0.6pp	2.8%
Current Ratio	2.08+0.0	2.04+0.1	1.95-0.0	2.00+0.0	1.98-0.1	2.05-0.2	2.21+0.1	2.13
Debt-to-Equity	0.66-0.0	0.68-0.0	0.70+0.0	0.680.0	0.690.0	0.68-0.1	0.74-0.0	0.76
FCF Margin	1.5%-13.1pp	14.6%+10.6pp	4.0%-5.8pp	9.8%+8.5pp	1.4%-17.0pp	18.4%+9.6pp	8.8%-3.8pp	12.6%

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Frequently Asked Questions

What is Halliburton's annual revenue?

Halliburton (HAL) reported $22.2B in total revenue for fiscal year 2025. This represents a -3.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Halliburton's revenue growing?

Halliburton (HAL) revenue declined by 3.3% year-over-year, from $22.9B to $22.2B in fiscal year 2025.

Is Halliburton profitable?

Yes, Halliburton (HAL) reported a net income of $1.3B in fiscal year 2025, with a net profit margin of 5.8%.

What is Halliburton's EBITDA?

Halliburton (HAL) had EBITDA of $3.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Halliburton have?

As of fiscal year 2025, Halliburton (HAL) had $2.2B in cash and equivalents against $7.2B in long-term debt.

What is Halliburton's operating margin?

Halliburton (HAL) had an operating margin of 10.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Halliburton's net profit margin?

Halliburton (HAL) had a net profit margin of 5.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Halliburton's return on equity (ROE)?

Halliburton (HAL) has a return on equity of 12.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Halliburton's free cash flow?

Halliburton (HAL) generated $1.7B in free cash flow during fiscal year 2025. This represents a -31.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Halliburton's operating cash flow?

Halliburton (HAL) generated $2.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Halliburton's total assets?

Halliburton (HAL) had $25.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Halliburton's capital expenditures?

Halliburton (HAL) invested $1.3B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Halliburton spend on research and development?

Halliburton (HAL) invested $411.0M in research and development during fiscal year 2025.

Does Halliburton buy back shares?

Yes, Halliburton (HAL) spent $1.0B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Halliburton have outstanding?

Halliburton (HAL) had 838M shares outstanding as of fiscal year 2025.

What is Halliburton's current ratio?

Halliburton (HAL) had a current ratio of 2.04 as of fiscal year 2025, which is generally considered healthy.

What is Halliburton's debt-to-equity ratio?

Halliburton (HAL) had a debt-to-equity ratio of 0.68 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Halliburton's return on assets (ROA)?

Halliburton (HAL) had a return on assets of 5.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Halliburton's Altman Z-Score?

Halliburton (HAL) has an Altman Z-Score of 3.46, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Halliburton's Piotroski F-Score?

Halliburton (HAL) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Halliburton's earnings high quality?

Halliburton (HAL) has an earnings quality ratio of 2.28x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Halliburton?

Halliburton (HAL) scores 61 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.