YouTube · Q3 2026 · 2026-10-27
HAL · NYSE
Halliburton Company
Oil & Gas Equipment & Services · United States
USD 32.933.4% daily changeQuote 2026-11-11 · USD
- Market cap (USD)
- US$27.24B
- Trailing P/E
- 13.84x
- Forward P/E
- 11.21x
- Quarterly revenue growth
- 1.8%
- Trailing net margin
- 8.9%
- Indicated dividend yield
- 2.1%
Snapshot 2026-11-11 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2027-01-20 (provider estimate; issuer confirmation unavailable here).
Company background
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; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, liner hanger systems, sand control systems, multilateral systems, and service tools. This segment also provides electrical submersible pumps, as well as artificial lift services; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning; and specialty chemicals and services. The Drilling and Evaluation segment offers drilling fluid systems, performance additives, completion fluids, solids control, specialized testing equipment, and waste management services; drilling systems and services; wireline and perforating services consisting of open-hole logging, and cased-hole and slickline; and drill bits and services comprising roller cone 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.
Company websiteQ3 2026
Go beyond the headline.
HAL Stock: Better Margins, But Where Is the Cash? | Q3 2026
Published 2026-10-20
Q3 2026 REPORT HIGHLIGHTS
What’s changed for HAL
Halliburton’s adjusted profit improved sequentially, but cash conversion and the price paid for recovery determine our HOLD call.
Two profit stories:
adjusted operating income rose 7.0% sequentially to $731M; GAAP operating income fell to $624M.
International carries the mix:
$3.543B international revenue offsets a $2.160B North American business that declined sequentially.
Cash requires a second definition:
$368M operating cash less $266M capex is $102M; PP&E proceeds lift company free cash flow to $156M.
Recovery remains an outlook:
management’s early 2027 view is mid-single-digit growth and about 15% operating margins, assuming flat North America.
Price disciplines the call:
$34 base value versus the $32.98 pre-release close leaves little cushion; $27.20 would provide a 20% margin of safety only if the thesis holds.
Comparable businesses
HAL peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | HALHalliburton CompanySnapshot 2026-11-11Financial period: 2026-09-30 | SLBSLB N.V.Snapshot 2026-11-11Financial period: 2026-09-30 | NOVNOV Inc.Snapshot 2026-11-11Financial period: 2026-09-30 |
|---|---|---|---|
| Market capMarket value, converted to USD | US$27.24B | US$75.22B | US$6.42B |
| Forward P/EProvider forward earnings estimate | 11.21x | 16.56x | 14.18x |
| EV / EBITDAEnterprise value / trailing EBITDA | 7.91x | 11.38x | 7.78x |
| Revenue growthLatest quarter vs prior-year quarter | 1.8% | 5.8% | 2.3% |
| Operating marginLatest reported quarter | 13.2% | 13.8% | 7.0% |
| Free cash flow yieldTrailing cash flow / market cap | 6.0% | 4.1% | 4.9% |
| Net debt / EBITDANet debt / trailing EBITDA | 1.54x | 1.25x | 1.29x |
| Debt / equityTotal debt / positive book equity | 0.73x | 0.47x | 0.37x |
| Trailing P/ETrailing twelve-month earnings | 13.84x | 24.74x | 43.90x |
| Price / bookPrice / positive book equity per share | 2.45x | 2.89x | 1.03x |
| EV / salesEnterprise value / trailing revenue | 1.46x | 2.28x | 0.88x |
| Earnings growthLatest quarter vs prior-year quarter | 2,400.0% | -2.0% | 127.3% |
| Gross marginTrailing twelve months | 14.8% | 16.6% | 21.3% |
| Net marginTrailing twelve months | 8.9% | 8.4% | 1.6% |
| Return on equityProvider trailing return; positive equity only | 18.8% | 11.7% | 2.3% |
| Free cash flow marginTrailing free cash flow / revenue | 7.3% | 8.3% | 3.6% |
| Dividend yieldIndicated annual dividend / price | 2.1% | 2.3% | 2.0% |
| Earnings payoutProvider trailing dividend payout | 28.6% | 56.8% | 106.1% |
| Current ratioCurrent assets / current liabilities | 2.02x | 1.39x | 2.51x |
| BetaProvider historical market sensitivity | 0.75 | 0.79 | 0.95 |
YouTube · Q3 2026 · 2026-10-27
YouTube · Q1 2026 · 2026-04-28
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-11. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for HAL
Q3 20262026-10-20
FREE RESEARCH PACKET · Q3 2026
HAL: Better Adjusted Margins, A Tougher Cash Test
Halliburton’s adjusted profit improved sequentially, but cash conversion and the price paid for recovery determine our HOLD call.
Research published October 20, 2026 · Download original report
Read Research PacketHAL Stock: Better Margins, But Where Is the Cash? | Q3 2026
Presentation · 2026-10-20 · YouTube
Q2 20262026-07-21
Halliburton Stock (HAL): It Beat Earnings and Still Fell 6% — Why We Say HOLD
Presentation · 2026-07-21 · YouTube
Q1 20262026-04-22
HAL Stock: EPS Beats by 12% — Q1 2026 Earnings Analysis
Presentation · 2026-04-22 · YouTube