# Halliburton Company (HAL) — Stock CV

Halliburton Company is a $27.1B energy company. Revenue grew 0.6% over the last year, it keeps 7¢ of every dollar of sales as profit, and its net debt equals ~2.9 years of free cash flow. It trades at 16.9× earnings — around the middle of its own history.

> Halliburton is North America's largest oilfield-services company as measured by market share. Despite industry fragmentation, it holds a leading position in the hydraulic fracturing and completions market, which makes up nearly half of its revenue.

## Identity

- **Ticker**: HAL
- **Sector**: Energy
- **Industry**: Oil & Gas Field Services, Nec
- **Headquarters**: HOUSTON, TX
- **Employees**: 46 000
- **Website**: https://www.halliburton.com
- **Market cap**: $27.1B
- **Last price**: $32.55
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $22.4B
- **Net income**: $1.60B
- **Free cash flow**: $1.73B
- **Net debt**: $4.95B
- **P/E**: 16.9
- **Revenue growth (YoY)**: 0.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 82 |
| Growth | 37 |
| Profitability | 57 |
| Health | 55 |
| Quality | 66 |
| Moat | 24 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +0.6% YoY
- [x] Profitable — $1.60B TTM
- [ ] Profit growing — -4.6% YoY
- [x] Generates cash — $1.73B TTM
- [x] Debt under control — ~2.9y of cash flow to repay
- [x] Established company — $27.1B market cap
- [x] Not printing shares — -3.2% shares over ~5y
- [x] Proven track record — 6/10 profitable years
- [ ] Financially stable — health score 43/100
- [x] Pays a dividend — yield 2.11%
- [x] Valuation not extreme — P/E 16.9

## Experience (career milestones)

- **FY2023** — Best year on record: $2.64B net income
- **FY2018** — Turned profitable: $1.66B net income after a loss year
- **FY2017** — Positive free cash flow every year since: 9-year streak
- **FY2016** — Revenue already above $10B: $15.9B in first reported year
- **2016** — At the beginning of May 2016, the day after the deadline expired, Halliburton and Baker Hughes announced the…
- **Nov 17, 2014** — Halliburton and Baker Hughes jointly announced a definitive agreement under which Halliburton…
- **2005** — A final non-appealable settlement in the asbestos case was reached in January 2005 which allowed Halliburton…
- **2002** — Asbestos-related litigation from the Kellogg acquisition caused the company to book more than US $4.0 billion in…
- **1998** — With the acquisition of Dresser Industries in 1998, the Kellogg-Brown & Root division (in 2002 renamed to KBR) was…
- **1989** — Gearhart Industries (acquired by Halliburton Energy Services in 1989) introduced the first digital computer logging…
- **1975** — Although HPS was incorporated in the Cayman Islands in 1975 and is "non-American", it shares both the logo and name…
- **1968** — An automated mixing system for drilling mud was developed by Halliburton, primarily for use offshore
- **Jul 5, 1961** — The company changed its name to the Halliburton Company
- **1940** — Halliburton opened offices in Venezuela and introduced bulk handling of cementing to the industry

## Strengths

- Interest covered 5.9× by operating earnings

## Watch-outs

- Loss-making in 4 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $15.3B | $1.46B | $1.11B |
| FY2022 | $20.3B | $1.57B | $1.23B |
| FY2023 | $23.0B | $2.64B | $2.08B |
| FY2024 | $22.9B | $2.50B | $2.42B |
| FY2025 | $22.2B | $1.28B | $1.67B |

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Source: https://stockcv.com/HAL — derived from company filings; may be delayed or incomplete. Information, not investment advice.