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Halliburton Company

HAL

Energy · 35.83 -0.6% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

Halliburton Company's current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 6 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 11 directly disclosed connections are confirming.

Company-0.6% todayVolume comparison unavailable
Market group0 of 6 activeOil & Gas Equipment & Services · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • HAL's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if HAL's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Energy · Oil & Gas Equipment & Services

No new filing conclusion is available. 0 of 6 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 11 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • HAL's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations602
Usable filing statements81
Verified relationships9
Evidence supporting the case
  • Operating cash flow covered net income at 2.28x in the latest annual period.
  • Energy and commodity prices has repeated favorable evidence across 3 filings.
Evidence challenging the case
  • Latest annual revenue changed -3.3% year over year.
  • Operating margin changed -6.5 percentage points in the latest annual period.
  • Net margin changed -5.1 percentage points in the latest annual period.
Questions before a position
  • P/E is 47% below the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 45% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 11, 2026

35.83
6m+2.8%12m+58.5%24m+25.4%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$15.3B+5.9%+1.2%
2022-12-31$20.3B+32.7%+1.8%
2023-12-31$23.0B+13.4%-0.7%
2024-12-31$22.9B-0.3%-2.1%
2025-12-31$22.2B-3.3%-3.4%

What management says matters

Persistent and emerging business drivers

Demand and volumemixed · 3 filings
Despite the market conditions described above, we believe the combination of long-cycle international investments and emerging structural demand for natural gas, driven by data centers, electrification, and power reliability, positions our business for growth…
10-K · Feb 6, 2026
Energy and commodity pricespositive · 3 filings
Despite the market conditions described above, we believe the combination of long-cycle international investments and emerging structural demand for natural gas, driven by data centers, electrification, and power reliability, positions our business for growth…
10-K · Feb 6, 2026
Macroeconomic conditionsmixed · 3 filings
Also, while we have been impacted by inflationary cost increases, primarily related to chemicals, cement, and logistics costs, we generally try to pass much of those increases on to our customers and we believe we have effective solutions to minimize their op…
10-K · Feb 6, 2026
Pricing and mixnegative · 2 filings
We also expect North America full year 2025 revenue to decline year over year driven by lower drilling and completion activity and pricing pressure.
10-Q · Oct 24, 2025

Valuation discipline

Descriptive valuation snapshot

Price/sales 1.4× · EV/sales 1.6×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

35.83-0.6% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for HAL. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for HAL. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind HAL

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

BKRBaker Hughes CompanypartnerOct 24, 2025

The termination fee was paid to Baker Hughes under the merger agreement after antitrust regulators in multiple jurisdictions failed to approve our proposed merger.

Depended on by

RBCRBC Bearings IncorporatedcustomerMay 15, 2026

1 Our largest industrial customers include Caterpillar, Komatsu and Halliburton and various aftermarket distributors including Motion Industries, Applied Industrial, Baldwin Supply, BDI and Purvis Industries.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 12 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

HAL is currently a Early Follower in the organic co-movement group Oil & Gas Equipment & Services. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.