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Halliburton Company

HAL
45
Oil & Gas Equipment & Services · Energy
Also trades as: 0R23.L GBP 0.35 (+5.50%) · HAL.DE EUR 31.24 (+7.80%)
Price
$34.92
+1.73 (+5.21%)
Market Cap
$29.09B
Winston Score
45
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 24, 2026 · filings through Sep 30, 2026

§How the score breaks down

Quality
Mixed
10/30
Growth
Mixed
8/20
Cash Flow
Strong
8/10
Stability
Strong
7/10
Valuation
Strong
8/10
Ownership
Weak
2/15
Dividends
Mixed
2/5

45 of 100 counted points = Winston Score 45.

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Share count falling — buybacks

−5.8% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 892.0M (2021) → 840.0M (2025)

§Winston Score History

The full picture

Halliburton helps oil and gas companies find and extract oil and natural gas from the ground. It provides services like drilling wells, cementing them in place, and using pressure pumping to crack open rock so fuel can flow out — a process called hydraulic fracturing, or "fracking." It is one of the two largest oilfield services companies in the world, alongside Schlumberger (SLB).

Halliburton makes money by charging energy companies for its equipment, labor, and technical services on a project basis. It operates in over 70 countries, with especially strong business in North America, the Middle East, and Latin America, and generated roughly $23 billion in revenue in 2024. Its main competitive advantage is its scale and deep expertise in completion services, but its biggest risk is that demand for its services falls sharply when oil prices drop and energy companies cut their drilling budgets.

Politician Trades

6 trades / 12mo

2 Congressional buys and 4 sells on HAL in the last 12 months.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+1.8% YoY

YoY Growth Rate

Slow revenue growth

Reported EPS Growth

>+1,000% YoY

Quarterly reporting periods ended:

30 Sept 2025: $0.0212

30 Sept 2026: $0.50

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS increased year over year

R&D Spend

$411M/ year

→ Flat (-4% vs prior year)

1.9% of revenue

1.9x the sector average (1%)

Steady R&D investment year-over-year

Insider Activity

0.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$1.8B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Halliburton Company is growing revenue at 2% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
14.9%
Thin — 14.9% gross margin
Profit after running costs
Operating Margin
10.9%
Modest — 10.9% operating margin
Return on the money invested
ROCE
14.6%
Good — 14.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+1.5%
Nearly flat sales (+1.5% YoY)
Profit growth
EPS YoY
+58.2%
Earnings growing fast (+58.2% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
131%
Turns 131% of profit into real cash
Spare cash per sale
FCF Margin
7.1%
Modest free cash flow (7.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.74
Moderate — manageable debt (0.74)
Covers its interest
Interest Cover
9.71x
Comfortably covers interest (9.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
14.6x
Attractive valuation — P/E 14.6

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+5.1
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (14.6 → 9.5)

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Dividends

Dividend
Dividend Yield
2.14%
Moderate income — 2.14% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+0.0%
Dividend flat
Payout Ratio
28%
no trend
Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

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