Halliburton Company
Financial Performance
Halliburton Revenue & Financials
Revenue
$22.2B (FY2025)
Market Cap
$27.3B
Net Income
$1.3B
Employees
46,000
What is Halliburton's revenue?
Halliburton had $22.2B in revenue for fiscal year 2025, down 3.3% from 2024. Net income was $1.3B.
- Latest revenue
- $22.2B (FY2025)
- Year-over-year
- -3.3%
- Growth rate (CAGR)
- 3.8% over 9 years
- Peak revenue
- $24B (FY2018)
- Years of data
- 10
- Employees
- 46,000
- What is Halliburton's operating income?
- Halliburton reported operating income of $2.3B for fiscal year 2025. sec.gov
- How much profit does Halliburton make?
- Halliburton reported net income of $1.3B for fiscal year 2025. sec.gov
- How many employees does Halliburton have?
- Halliburton has about 46,000 employees.
Financial Analysis
Halliburton's results move with the oil cycle. Revenue fell to $14.4 billion in 2020, then climbed to $23.0 billion in 2023 and $22.9 billion in 2024 before easing to $22.2 billion in 2025. Net income followed: a $2.9 billion loss in 2020, a peak of $2.6 billion in 2023, and $1.3 billion in 2025 ($1.50 per diluted share; $2.42 adjusted). Even in a softer 2025, Halliburton produced $2.9 billion of operating cash flow and $1.9 billion of free cash flow, and returned about 85% of free cash flow to shareholders. In Q2 2026 it reported revenue of $5.7 billion, net income of $534 million, free cash flow of $668 million and about $200 million of buybacks. Halliburton Company is a colossal multinational corporation operating in the energy sector, commanding a market valuation typically over $35 billion.
Revenue Trend Analysis
YoY Change
-3.3%
9-Year CAGR
+3.8%
Peak Year
2018
Trend
Mostly Growing
Halliburton Company has 10 full fiscal year figures on this page, compounding at +3.8% annually over 9 years. The most recent year saw a 3.3% decline versus the prior year. Annual revenue peaked in fiscal year 2018 at $24B. Of 9 comparable year-over-year steps, 5 showed growth and 4 showed a decline.
Annual revenue history
Click any row to see year details.
Halliburton Company balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row.
| Fiscal Year | Operating cash flow | Total assets | Total liabilities | Shareholders' equity | Source |
|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $2.9B | $25B | $14.5B | $10.5B | Form 10-K |
| FY2024ended Dec 31, 2024 | $3.9B | $25.6B | $15B | $10.5B | Form 10-K |
| FY2023ended Dec 31, 2023 | $3.5B | $24.7B | $15.3B | $9.4B | Form 10-K |
| FY2022ended Dec 31, 2022 | $2.2B | $23.3B | $15.3B | $7.9B | Form 10-K |
| FY2021ended Dec 31, 2021 | $1.9B | $22.3B | $15.6B | $6.7B | Form 10-K |
| FY2020ended Dec 31, 2020 | $1.9B | $20.7B | $15.7B | $5B | Form 10-K |
| FY2019ended Dec 31, 2019 | $2.4B | $25.4B | $17.4B | $8B | Form 10-K |
| FY2018ended Dec 31, 2018 | $3.2B | $26B | $16.4B | $9.5B | Form 10-K |
| FY2017ended Dec 31, 2017 | $2.5B | $25.1B | $16.7B | $8.3B | Form 10-K |
| FY2016ended Dec 31, 2016 | -$1.7B | $27B | $17.6B | $9.4B | Form 10-K |
Keep researching Halliburton
Halliburton Revenue and Financial FAQ
What is the typical annual revenue and operating profit scale of Halliburton Company?
Halliburton Company reported revenue of $22.2 billion for fiscal year 2025, down from $22.9 billion in fiscal 2024.
What is Halliburton's capital allocation framework regarding shareholder returns?
Halliburton commits to returning at least 50% of its annual free cash flow to shareholders through quarterly cash dividend payments and regular multi-hundred-million-dollar common share repurchase programs.
What is Halliburton's balance sheet debt profile and liquidity position?
Halliburton maintains an investment-grade credit rating supported by strong liquidity (typically $2.0 billion to $3.0 billion in cash and undrawn revolving credit facilities), using excess free cash flow to systematically retire long-term senior debt maturities.
How do crude oil commodity price cycles impact Halliburton's financial performance?
Upstream E&P capital expenditure budgets correlate with global crude oil and natural gas prices. Rising oil prices expand active drilling rig counts and hydraulic fracturing stage completions, accelerating Halliburton's revenue and operating leverage.
What is Halliburton's capital expenditure (CapEx) intensity as a percentage of revenue?
Halliburton operates with a disciplined capital expenditure intensity of approximately 5% to 6% of total revenue annually, funding high-return Zeus electric fleet builds, smart downhole completion tools, and digital technology.
How does Halliburton manage working capital across its global supply chain?
Halliburton optimizes working capital through automated inventory tracking across regional bulk chemical and sand staging yards, rigorous receivables collection from NOCs and IOCs, and localized equipment refurbishment facilities.
What is the financial contribution of the Completion and Production segment versus Drilling and Evaluation?
Completion and Production typically generates higher revenue volume ($13B-$15B annually) and elevated operating margins (20%-22%), while Drilling and Evaluation provides stable, high-margin international service revenues ($9B-$10B annually with 15%-17% operating margins).
How do multi-year National Oil Company (NOC) contracts provide financial stability?
Long-term contracts with Middle Eastern and Latin American NOCs (Saudi Aramco, ADNOC, Kuwait Oil Company) are based on multi-year national production targets rather than short-term commodity price swings, providing stable, multi-year cash flow visibility.
Did Halliburton make money from the Iraq War?
Yes, massively, but highly controversially. Through their former subsidiary, KBR (Kellogg Brown & Root), Halliburton received billions in no-bid military contracts to rebuild Iraqi oil infrastructure and build military bases. Due to intense global scrutiny, Halliburton eventually spun off KBR into a completely separate public company in 2007.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Halliburton Revenue & Financials." CorpDigest, https://corpdigest.com/company/halliburton/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Halliburton reported $22.2B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/halliburton/financials" target="_blank" rel="noopener">CorpDigest — Halliburton financials</a></div>Related Financial Audits
Compare revenue, net income, and market cap scale
Explore Halliburton
Core profile pages, founders and related research hubs for this company.