Financials Halliburton Company

Equities

HAL

US4062161017

Oil Related Services and Equipment

Market Closed - Nyse Other stock markets 23:00:02 18/07/2025 +03			5-day change	1st Jan Change
21.22 ^USD	-1.49%		-4.24%	-21.96%

07-18	Oilfield services provider SLB flags risk of lower upstream spending	RE
07-16	Stifel Adjusts Price Target on Halliburton to $31 From $32, Maintains Buy Rating	MT

Projected Income Statement: Halliburton Company

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	14,445	15,295	20,297	23,018	22,944	21,646	21,785	22,744
Change	-	5.88%	32.7%	13.41%	-0.32%	-5.66%	0.64%	4.4%
EBITDA ¹	2,421	2,716	4,013	5,081	5,017	4,260	4,414	4,706
Change	-	12.19%	47.75%	26.61%	-1.26%	-15.09%	3.61%	6.62%
EBIT ¹	1,363	1,812	3,073	4,083	3,938	3,103	3,283	3,624
Change	-	32.94%	69.59%	32.87%	-3.55%	-21.2%	5.81%	10.37%
Interest Paid ¹	-505	-469	-375	-395	-353	-355.8	-348.3	-342
Earnings before Tax (EBT) ¹	-3,220	1,252	2,110	3,363	3,234	2,283	2,768	3,023
Change	-	138.88%	68.53%	59.38%	-3.84%	-29.39%	21.22%	9.22%
Net income ¹	-2,945	1,457	1,572	2,638	2,501	1,670	2,123	2,349
Change	-	149.47%	7.89%	67.81%	-5.19%	-33.23%	27.15%	10.63%
Announcement Date	1/19/21 A	1/24/22 A	1/24/23 A	1/23/24 A	1/22/25 A	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	3,196	2,975	3,237	3,451	3,707	3,860	4,277	4,284	5,074	5,357	5,582	5,677	5,798	5,804	5,739	5,804	5,833	5,697	5,610	5,417	5,413	5,406	5,405	5,295	5,461	5,555	5,602	5,565
Change	-	-6.91%	8.81%	6.61%	7.42%	4.13%	10.8%	0.16%	18.44%	5.58%	4.2%	1.7%	2.13%	0.1%	-1.12%	1.13%	0.5%	-2.33%	-1.53%	-3.44%	-0.07%	-0.13%	-0.02%	-2.03%	3.13%	1.72%	0.84%	-0.65%
EBITDA ¹	487	505	579	596	657	682	781	765	956	1,080	1,212	1,218	1,256	1,293	1,314	1,250	1,303	1,120	1,207	1,064	1,048	1,078	1,076	1,040	1,081	1,126	1,141	1,039
Change	-	3.7%	14.65%	2.94%	10.23%	3.81%	14.52%	-2.05%	24.97%	12.97%	12.22%	0.5%	3.12%	2.95%	1.62%	-4.87%	4.24%	-14.04%	7.77%	-11.85%	-1.46%	2.81%	-0.21%	-3.33%	3.93%	4.19%	1.31%	-8.92%
EBIT ¹	236	275	350	370	434	458	550	533	718	846	976	977	1,011	1,037	1,058	987	1,032	871	932	787	750.1	767.6	758.5	725.3	776.2	830.5	844.7	826.4
Change	-	16.53%	27.27%	5.71%	17.3%	5.53%	20.09%	-3.09%	34.71%	17.83%	15.37%	0.1%	3.48%	2.57%	2.03%	-6.71%	4.56%	-15.6%	7%	-15.56%	-4.69%	2.33%	-1.19%	-4.38%	7.02%	6.99%	1.72%	-2.17%
Charge d'intérêts ¹	-124	-122	-125	-125	-120	-116	-108	-107	-101	-93	-74	-79	-92	-93	-98	-92	-92	-85	-84	-86	-90	-90.3	-89.3	-89	-89	-89.25	-88.75	-
Earnings before Tax (EBT) ¹	-2,083	-1	-240	223	295	316	418	332	231	705	842	829	783	916	835	787	920	734	793	306	625.4	659.5	667.7	601	635	682.5	694.1	696.9
Change	-	99.95%	-23,900%	192.92%	32.29%	7.12%	32.28%	-20.57%	-30.42%	205.19%	19.43%	-1.54%	-5.55%	16.99%	-8.84%	-5.75%	16.9%	-20.22%	8.04%	-61.41%	104.37%	5.45%	1.25%	-9.99%	5.66%	7.48%	1.7%	0.41%
Net income ¹	-1,676	-17	-235	170	227	236	824	263	109	544	656	651	610	716	661	606	709	571	615	204	479.5	496.2	495.8	461	487.3	523.5	532.4	523.7
Change	-	98.99%	-1,282.35%	172.34%	33.53%	3.96%	249.15%	-68.08%	-58.56%	399.08%	20.59%	-0.76%	-6.3%	17.38%	-7.68%	-8.32%	17%	-19.46%	7.71%	-66.83%	135.05%	3.47%	-0.07%	-7.02%	5.7%	7.45%	1.7%	-1.64%
Announcement Date	7/20/20 A	10/19/20 A	1/19/21 A	4/21/21 A	7/20/21 A	10/19/21 A	1/24/22 A	4/19/22 A	7/19/22 A	10/25/22 A	1/24/23 A	4/25/23 A	7/19/23 A	10/24/23 A	1/23/24 A	4/23/24 A	7/19/24 A	11/7/24 A	1/22/25 A	4/22/25 A	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Halliburton Company

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	7,264	6,090	5,582	5,372	4,542	4,749	3,948	3,151
Change	-	-16.16%	-8.34%	-3.76%	-15.45%	4.56%	-16.87%	-20.19%
Announcement Date	1/19/21 A	1/24/22 A	1/24/23 A	1/23/24 A	1/22/25 A	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Halliburton Company

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	728	799	1,011	1,379	1,442	1,303	1,298	1,375
Change	-	9.75%	26.53%	36.4%	4.57%	-9.66%	-0.38%	5.94%
Free Cash Flow (FCF) ¹	1,153	1,369	1,431	2,274	2,646	2,006	2,040	2,198
Change	-	18.73%	4.53%	58.91%	16.36%	-24.19%	1.67%	7.74%
Announcement Date	1/19/21 A	1/24/22 A	1/24/23 A	1/23/24 A	1/22/25 A	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Halliburton Company

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	16.76%	17.76%	19.77%	22.07%	21.87%	19.68%	20.26%	20.69%
EBIT Margin (%)	9.44%	11.85%	15.14%	17.74%	17.16%	14.34%	15.07%	15.93%
EBT Margin (%)	-22.29%	8.19%	10.4%	14.61%	14.1%	10.55%	12.71%	13.29%
Net margin (%)	-20.39%	9.53%	7.74%	11.46%	10.9%	7.72%	9.75%	10.33%
FCF margin (%)	7.98%	8.95%	7.05%	9.88%	11.53%	9.27%	9.36%	9.66%
FCF / Net Income (%)	-39.15%	93.96%	91.03%	86.2%	105.8%	120.12%	96.05%	93.55%
Profitability
ROA	2.5%	4.49%	8.58%	11.79%	10.52%	7.69%	8.49%	9.6%
ROE	8.87%	16.51%	26.68%	32.61%	26.58%	18.35%	19.14%	20.79%
Financial Health
Leverage (Debt/EBITDA)	3x	2.24x	1.39x	1.06x	0.91x	1.11x	0.89x	0.67x
Debt / Free cash flow	6.3x	4.45x	3.9x	2.36x	1.72x	2.37x	1.94x	1.43x
Capital Intensity
CAPEX / Current Assets (%)	5.04%	5.22%	4.98%	5.99%	6.28%	6.02%	5.96%	6.04%
CAPEX / EBITDA (%)	30.07%	29.42%	25.19%	27.14%	28.74%	30.58%	29.4%	29.21%
CAPEX / FCF (%)	63.14%	58.36%	70.65%	60.64%	54.5%	64.94%	63.63%	62.56%
Items per share
Cash flow per share ¹	2.135	2.142	2.469	3.834	4.377	3.954	3.84	4.217
Change	-	0.34%	15.25%	55.27%	14.17%	-9.66%	-2.9%	9.82%
Dividend per Share ¹	0.315	0.18	0.48	0.64	0.68	0.6954	0.7341	0.7688
Change	-	-42.86%	166.67%	33.33%	6.25%	2.27%	5.56%	4.73%
Book Value Per Share ¹	5.62	7.526	8.753	10.41	11.9	12.88	14.78	16.64
Change	-	33.9%	16.31%	18.94%	14.28%	8.22%	14.8%	12.6%
EPS ¹	-3.34	1.63	1.73	2.92	2.83	1.996	2.521	2.965
Change	-	148.8%	6.13%	68.79%	-3.08%	-29.45%	26.28%	17.61%
Nbr of stocks (in thousands)	884,007	895,116	908,047	895,052	878,502	859,715	859,715	859,715
Announcement Date	1/19/21 A	1/24/22 A	1/24/23 A	1/23/24 A	1/22/25 A	-	-	-