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HalliburtonHAL

Legal name
Halliburton Company
Sector
Energy
Industry
Oil & Gas Field Services, NEC
Exchange
NYSE

Stock Price $HAL

Latest filings

You are here#24 of 29 in Energy by market cap

Filing record · 2016–202610-K1110-Q338-K122

HAL filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 122 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Material agreement8-K · Mar ’20Mar ’20
  3. Leadership change8-K · May ’22May ’22
  4. Leadership change8-K · Jan ’26Jan ’26

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $22.18B
YoY changeLargest recent move−35.5%in FY20Latest −3.3%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All HAL Financial Metrics59 metrics

Income Statement16

Balance Sheet25

Cash Flow13

Per Share5

02—Overview

Halliburton Financial Overview 2021–2025

Updated Nov 4, 2026

Revenue slipped just 3% in FY2025, yet net income attributable to the company fell 49%, from $2.50 billion to $1.28 billiona. That gap is the story. Halliburton's profits swing far harder than its sales, because severance, impairments and weaker North America pricing hit a largely fixed cost base. The core thesis: this is a high-operating-leverage cash generator whose earnings are depressed by activity and restructuring charges, while its balance sheet and shareholder payouts hold steady.

Revenue grew from $15.3 billion in FY2021 to $22.2 billionb in FY2025, after peaking at $23.0 billion in FY2023. Operating income tells the sharper tale: $4.1 billion in FY2023 versus $2.3 billion in FY2025, which included $831 million of impairments and other charges. North America revenue fell 6% and international fell 2%. Diluted EPS landed at $1.50, below the $1.63 earned in FY2021. Cash held up better: $2.9 billion of operating cash flow covered $1.3 billion of capital spending and $1.6 billion of returns to shareholders.

Long-term debt stood at $7.2 billionc at the end of FY2025, with $2.2 billion of cash and a new $3.5 billion credit facility running to 2030. At the close of FY2025, the shares were priced at $28.26, or 18.8x earnings, for a market cap of $23.6 billion. That multiple sits on trough-like earnings. By Q3 2026, net income had recovered to $417 million, against just $18 million a year earlier.

Recent Developments (Q2 and Q3 2026)

Halliburton's most notable development was a sharp Q3 2026 margin rebuild alongside a new cost cut. Operating income rose to $624 milliond from $356 million, as charges fell to $107 million from $392 million, mostly severance tied to trimming global headcount. Revenue was flat sequentially at $5.7 billion, and Q2 2026 operating income reached $778 million. Drilling and Evaluation grew 10% year over year, while Completion and Production fell 4%. Contract wins included Aramco work on about 285 wells and the GranMorgu project offshore Suriname. Maurice Smith became Lead Independent Director in September 2026, and David Hernandez joined the board in October 2026. An open IRS dispute could cost about $640 million plus interest.

Bull case: management guides early 2027 to mid-single-digit revenue growth and about 15% operating margins, roughly 200 basis points higher. Bear case: Q3 2026 free cash flow was only $156 millione, and the stock sits at 23.3x trailing earnings as of the Q3 2026 report date (October 22, 2026), not today.

What to watch: Delivery of the 15% margin target on flat North America; free cash flow recovery and the IRS appeal outcome

03—Filings

Recent SEC Filings

  1. 8-KHalliburton 8-K Report, Financial Results (Oct 20, 2026)Halliburton Company (NYSE: HAL) furnished an 8-K on October 20, 2026 reporting its results for the quarter ended September 30, 2026 via Exhibit 99.1 press release. Third-quarter net income attributable to company was $417 million, or $0.50 per diluted share, compared with $534 million, or $0.64 per diluted share, in the second quarter of 2026. Excluding impairments, other charges and tax adjustments, adjusted net income attributable to company was $501 million, or $0.60 per diluted share. Total revenue was $5.7 billion, flat sequentially, with operating income of $624 million and adjusted operating income of $731 million, giving an operating margin of 10.9% and an adjusted operating margin of 12.8%. By segment, Completion and Production revenue was $3.1 billion, down $113 million sequentially on lower stimulation activity in the Western Hemisphere, while Drilling and Evaluation revenue rose $102 million to $2.6 billion, led by the Middle East and Latin America. Cash flow from operations was $368 million and free cash flow was $156 million. The company repurchased approximately $250 million of stock and paid dividends of $0.17 per share during the quarter, and recorded a pre-tax charge of $107 million for impairments and other charges, primarily $107 million of severance costs tied to rationalizing global headcount. Management stated an early outlook for 2027 of mid-single-digit revenue growth and operating margins of about 15%, an improvement of approximately 200 basis points, assuming a flat North America market and no recovery in North America hydraulic fracturing. The release also highlighted new contract awards, including work for Eni in Cyprus and bp in Brazil, and a multiyear agreement with Kuwait Oil Company.
  2. 8-KHalliburton 8-K Report, Executive Changes (Oct 15, 2026)Halliburton Company (HAL) reported on Form 8-K that its Board of Directors appointed David C. Hernandez as a director on October 15, 2026, filling a vacancy and leaving the Board size at 12 directors. Mr. Hernandez is President and Director of Hunt Consolidated, Inc., and brings experience in corporate strategy, capital allocation, financial oversight, enterprise risk management, regulatory compliance, and governance. He was appointed to the Audit Committee and the Health, Safety and Environment Committee, and the Board determined he is independent and designated him an audit committee financial expert. In connection with his committee assignments, Timothy A. Leach moved from the Audit Committee to the Compensation Committee. Hernandez will receive an initial restricted stock unit award of 961 RSUs under the non-management director compensation program, which provides an annual equity award of $200,000 on a prorated basis. He also entered into an indemnification agreement with Halliburton on October 15, 2026. The filing states that he has no transactions requiring disclosure under Item 404(a) of Regulation S-K. The company also issued a press release on October 15, 2026, announcing the appointment, which the filing furnishes as Exhibit 99.1. The release states Mr. Hernandez will serve until the 2027 Annual Meeting of Shareholders, subject to annual election thereafter, and quotes Chairman, President and CEO Jeff Miller describing the appointment as part of ongoing board succession and refreshment.
  3. 8-KHalliburton 8-K Report, Corporate Update (Sep 16, 2026)Halliburton Company filed this Current Report on Form 8-K under Item 8.01 (Other Events) to disclose a board leadership change. On September 15, 2026, the independent directors of the Board of Directors elected Mr. Maurice S. Smith as Lead Independent Director, effective immediately. He will serve until the next annual election of the Lead Independent Director by the independent directors, or until the earlier of his death, resignation, or removal. In connection with this role, Mr. Smith will receive an additional annual retainer of $40,000, consistent with the non-management director compensation program described in the Company's most recent proxy statement filed on March 31, 2026. Mr. Robert A. Malone will continue to serve as a director of the Company, and the Board and the Company thanked him for his years of service as Lead Independent Director. The filing contains no financial results, operating metrics, or transaction disclosures. Its主要 significance for investors is governance-related: a change in the independent board leadership position, with the compensation impact limited to the stated $40,000 annual retainer.
  4. 8-KHalliburton 8-K Report, Financial Results (Jul 21, 2026)Halliburton Company (NYSE: HAL) reported net income attributable to the company of $534 million, or $0.64 per diluted share, for the second quarter ended June 30, 2026, compared with $461 million, or $0.55 per diluted share, in the first quarter of 2026. Excluding "Impairments and other credits," adjusted net income was $461 million, or $0.55 per diluted share. Total revenue was $5.7 billion, up from $5.4 billion in the first quarter, and operating income was $778 million, or $683 million on an adjusted basis. Cash flow from operations was $824 million and free cash flow was $668 million, and the company repurchased approximately $200 million of its common stock and paid dividends of $0.17 per share. By segment, Completion and Production revenue rose 6% sequentially to $3.2 billion, driven by stimulation activity in the Western Hemisphere, while Drilling and Evaluation revenue rose 5% to $2.5 billion. By region, North America grew 7% sequentially to $2.3 billion, Europe/Africa grew 19% to $1.0 billion, and Middle East/Asia declined 2% to $1.3 billion due to the ongoing geopolitical conflict in the Middle East. Management said it expects incremental improvements in North America and sees demand growth in every international region. The filing also highlights several contract awards, including multi-year Aramco contracts in Saudi Arabia covering approximately 285 planned wells, an integrated well construction award for the GranMorgu deepwater project offshore Suriname, and a Basra Oil Company contract for the Bin Umar and Sindbad fields in southern Iraq. The second-quarter results included a pre-tax credit of $95 million from impairments and other items, primarily gains on an equity investment and a government refund recovery, partly offset by a $17 million loss on the sale of part of its chemical business.
  5. 8-KHalliburton 8-K Report, Corporate Update (Jun 29, 2026)Halliburton Company (HAL) filed this Form 8-K on June 29, 2026, reporting under Item 8.01 (Other Information) that it was notified on June 25, 2026 of the death of Mr. Abdulaziz F. Al Khayyal on June 24, 2026. Mr. Al Khayyal had served as a member of the Halliburton Board of Directors since 2014, and at the time of his death he sat on the Audit Committee and the Health, Safety and Environment Committee. The filing is a notice of a board vacancy rather than a financial or operational disclosure. It contains no financial results, guidance, transaction terms, or other quantitative figures. The filing does not state whether or how the board will fill the seat or reassign his committee responsibilities. For investors, the event is a governance change that reduces the board's size and removes a director from the Audit Committee and the Health, Safety and Environment Committee. It does not, on the face of this filing, signal any change to Halliburton's business, results, or outlook.
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04—See also

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