Explain this page
Arphra AIPlain-English read on Halliburton Company’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +13.18% | +15.98% | +18.94% | +18.75% | +15.71% | +18.14% | +17.72% | +17.59% | +17.71% |
| Operating margin | +11.77% | +13.34% | +17.74% | +16.66% | +10.19% | +14.64% | +15.26% | +14.60% | +15.10% |
| EBITDA margin | +17.29% | +19.43% | +22.07% | +21.81% | +18.58% | +20.22% | +21.39% | +20.99% | +20.88% |
| EBIT margin | +11.38% | +14.80% | +17.74% | +17.11% | +13.46% | +16.22% | +16.39% | +15.66% | +15.93% |
| Pre-tax margin | +8.19% | +10.40% | +14.61% | +14.10% | +7.98% | +12.07% | +12.35% | +11.98% | +12.50% |
| Net margin | +9.53% | +7.74% | +11.46% | +10.90% | +5.78% | +9.23% | +9.23% | +9.26% | +9.22% |
| Cost structure | |||||||||
| Cost of revenue / sales | +86.82% | +84.02% | +81.06% | +81.25% | +84.29% | +83.56% | +82.33% | +84.18% | +80.10% |
| R&D intensity | +2.10% | +1.70% | +1.77% | +1.86% | +1.85% | +1.81% | +1.87% | +1.86% | +1.88% |
| SG&A intensity | +1.33% | +1.18% | +0.98% | +1.04% | +1.08% | +1.01% | +1.06% | +1.05% | +1.00% |
| Effective tax rate | -17.25% | +24.41% | +20.84% | +22.20% | +27.05% | +24.21% | +23.77% | +23.64% | +22.28% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +21.66% | +19.71% | +27.97% | +23.71% | +12.21% | +21.07% | +21.01% | +21.04% | +20.63% |
| Return on assets (ROA) | +6.53% | +6.76% | +10.69% | +9.77% | +5.13% | +8.26% | +8.54% | +8.53% | +8.55% |
| Return on capital (ROC) | +10.62% | +16.00% | +22.38% | +19.78% | +12.13% | +17.99% | +18.72% | +18.09% | +18.33% |
| Return on invested capital (ROIC) | +8.60% | +9.29% | +14.46% | +12.95% | +6.88% | +11.35% | +11.32% | +11.47% | +11.20% |
| Asset turnover | +68.52% | +87.28% | +93.25% | +89.67% | +88.70% | +89.43% | +92.49% | +92.16% | +92.65% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +9.53% | +7.74% | +11.46% | +10.90% | +5.78% | +9.23% | +9.23% | +9.26% | +9.22% |
| Asset turnover (× revenue / assets) | +68.52% | +87.28% | +93.25% | +89.67% | +88.70% | +89.43% | +92.49% | +92.16% | +92.65% |
| Equity multiplier (× assets / equity) | +331.76% | +291.53% | +261.67% | +242.58% | +238.08% | +255.26% | +246.14% | +246.57% | +241.43% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.69 | 0.87 | 0.93 | 0.90 | 0.89 | 0.89 | 0.92 | 0.92 | 0.93 |
| Fixed-asset turnover | 2.91 | 3.86 | 3.84 | 3.74 | 4.22 | — | — | — | — |
| Inventory turnover | 5.62 | 5.83 | 5.78 | 6.13 | 6.28 | — | — | — | — |
| Receivables turnover | 4.17 | 4.39 | 4.74 | 4.48 | 4.49 | — | — | — | — |
| Payables turnover | 5.64 | 5.46 | 5.93 | 5.85 | 5.97 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 87.49 | 83.21 | 77.07 | 81.40 | 81.31 | — | — | — | — |
| Days inventory outstanding (DIO) | 64.90 | 62.56 | 63.11 | 59.52 | 58.09 | — | — | — | — |
| Days payables outstanding (DPO) | 64.68 | 66.80 | 61.56 | 62.44 | 61.15 | — | — | — | — |
| Cash conversion cycle | 87.71 | 78.97 | 78.61 | 78.49 | 78.25 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.31 | 1.43 | 1.31 | 1.55 | 2.28 | 1.60 | 1.60 | 1.58 | 1.59 |
| FCF / Net income | 0.76 | 0.78 | 0.79 | 0.97 | 1.30 | 1.00 | 0.96 | 0.98 | 0.98 |
| FCF margin | +7.27% | +6.06% | +9.03% | +10.56% | +7.54% | +9.27% | +8.84% | +9.11% | +9.03% |
| OCF margin | +12.49% | +11.05% | +15.02% | +16.85% | +13.19% | +14.76% | +14.78% | +14.65% | +14.68% |
| CapEx / Revenue | +5.22% | +4.98% | +5.99% | +6.28% | +5.65% | +6.16% | +5.81% | +6.15% | +6.14% |
| CapEx / D&A | 0.88 | 1.08 | 1.38 | 1.34 | 1.10 | — | — | — | — |
| Stock-based comp / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 1.63 | 1.73 | 2.92 | 2.83 | 1.50 | 2.35 | 2.89 | 3.33 | 4.12 |
| EPS · basic | 1.63 | 1.74 | 2.93 | 2.83 | 1.51 | 2.40 | 2.93 | 3.35 | 4.11 |
| Book value / share | 7.54 | 8.79 | 10.46 | 11.95 | 12.51 | 11.59 | 12.22 | 12.93 | 14.20 |
| Tangible BV / share | 4.36 | 5.67 | 7.30 | 8.73 | 9.01 | 11.59 | 12.22 | 12.93 | 14.20 |
| Sales / share | 17.15 | 22.35 | 25.52 | 25.98 | 26.41 | 26.47 | 27.82 | 29.39 | 31.76 |
| Operating CF / share | 2.14 | 2.47 | 3.83 | 4.38 | 3.48 | 3.91 | 4.11 | 4.31 | 4.66 |
| Free cash flow / share | 1.25 | 1.36 | 2.30 | 2.74 | 1.99 | 2.45 | 2.46 | 2.68 | 2.87 |
| Dividends / share | 0.18 | 0.48 | 0.64 | 0.68 | 0.69 | 0.70 | 0.73 | 0.75 | 0.80 |
| Payout ratio | +11.05% | +27.67% | +21.83% | +23.99% | +45.13% | +28.58% | +28.43% | +27.52% | +27.41% |
| Retention ratio | +88.95% | +72.33% | +78.17% | +76.01% | +54.87% | +71.42% | +71.57% | +72.48% | +72.59% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +32.70% | +13.41% | -0.32% | -3.31% | +0.11% | +5.89% | +4.28% | +9.57% | +7.30% |
| Gross profit · YoY | — | +60.86% | +34.44% | -1.35% | -19.00% | +15.60% | +3.48% | +3.49% | +10.31% | +11.33% |
| Profit | ||||||||||
| Operating income · YoY | — | +50.39% | +50.83% | -6.39% | -40.87% | +43.86% | +10.35% | -0.21% | +13.29% | +10.69% |
| EBITDA · YoY | — | +49.07% | +28.86% | -1.50% | -17.66% | +8.94% | +12.02% | +2.35% | +8.98% | +9.85% |
| Net income · YoY | — | +7.89% | +67.81% | -5.19% | -48.70% | +59.80% | +5.88% | +4.59% | +9.15% | +6.86% |
| Operating | ||||||||||
| EBIT · YoY | — | +72.49% | +35.96% | -3.85% | -23.97% | +20.71% | +6.95% | -0.35% | +11.49% | +11.90% |
| R&D · YoY | — | +7.48% | +18.26% | +4.41% | -3.52% | -2.01% | +9.08% | +3.57% | +10.93% | +5.82% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +6.13% | +68.79% | -3.08% | -47.00% | +56.98% | +22.93% | +14.89% | +24.00% | +12.30% |
| EPS · basic · YoY | — | +6.75% | +68.39% | -3.41% | -46.64% | +58.66% | +22.50% | +14.04% | +22.67% | +12.24% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $10.22B | $8.94B | $8.81B | $8.77B | $8.13B | $8.34B | $8.84B | $9B | $10.12B |
| Net debt | $7.18B | $6.6B | $6.55B | $6.15B | $5.93B | $6.09B | $6.37B | $6.5B | $7.26B |
| Net debt / EBITDA | 2.71 | 1.67 | 1.29 | 1.23 | 1.44 | 1.36 | 1.27 | 1.26 | 1.29 |
| Debt / equity | 1.52 | 1.12 | 0.93 | 0.83 | 0.77 | 0.86 | 0.86 | 0.83 | 0.84 |
| Debt / assets | +45.78% | +38.46% | +35.69% | +34.28% | +32.52% | +33.58% | +34.77% | +33.83% | +34.90% |
| Equity / assets | +30.14% | +34.30% | +38.22% | +41.22% | +42.00% | +39.18% | +40.63% | +40.56% | +41.42% |
| Coverage | |||||||||
| EBITDA / interest expense | 5.00 | 8.01 | 8.79 | 14.18 | 11.71 | 10.80 | 11.53 | 10.85 | 11.15 |
| Operating income / interest | 3.40 | 5.50 | 7.06 | 10.83 | 6.42 | 7.82 | 8.22 | 7.55 | 8.06 |
| Interest expense | $529M | $492M | $578M | $353M | $352M | $415.88M | $436.29M | $474.29M | $503.15M |
| Liquidity | |||||||||
| Current ratio | 2.31 | 2.05 | 2.06 | 2.05 | 2.04 | — | — | — | — |
| Quick ratio | 1.56 | 1.30 | 1.27 | 1.28 | 1.28 | — | — | — | — |
| Cash ratio | 0.71 | 0.44 | 0.40 | 0.43 | 0.39 | — | — | — | — |
| Working capital | $5.64B | $5.61B | $5.94B | $6.33B | $5.81B | — | — | — | — |
| Working capital / revenue | +36.86% | +27.62% | +25.78% | +27.60% | +26.19% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).