HAL Balance Sheet - Halliburton Co

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Price: 28.69 EUR -0.8%

Market Cap: €25.3B

Financial profile · Q3 FY2026

Activity-sensitive earnings paired with recurring free cash generation and measured capital intensity

Revenue and operating income expanded through 2023 and then receded, showing that earnings move with changes in activity. Despite that variability, Halliburton generated positive annual free cash flow throughout the reported history while continuing equipment investment and shareholder distributions.

What is developing

The latest results preserve the established pattern of steady revenue and positive TTM free cash flow, but working-capital absorption compressed quarterly cash conversion. That is a meaningful near-term cash-generation development, not yet evidence that the financial model has changed.

What matters next

Whether collections and project-related inventory normalize enough to improve operating cash flow relative to net income.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	4B	2.3B	2B	2.3B	2.6B	3B	2.3B	2.3B	2.6B	2.2B
Cash Equivalents	4B	2.3B	2B	2.3B	2.6B	3B	2.3B	2.3B	2.6B	2.2B
Total Receivables	3.9B	5B	5.2B	4.6B	3.1B	3.7B	4.6B	4.9B	5.1B	4.9B
Accounts Receivables	3.9B	5B	5.2B	4.6B	3.1B	3.7B	4.6B	4.9B	5.1B	4.9B
Other Receivables	0	0	0	0	0	0	0	0	0	0
Inventory	2.3B	2.4B	3B	3.1B	2.3B	2.4B	2.9B	3.2B	3B	3B
Other Current Assets	1.5B	1B	881m	1.2B	1.5B	872m	1.1B	1.2B	1.6B	1.3B
Total Current Assets	11.7B	10.8B	11.2B	11.2B	9.5B	9.9B	11B	11.5B	12.4B	11.4B
PP&E Net	8.5B	8.5B	8.9B	8.4B	5.2B	5.3B	5.4B	6.1B	6.3B	6.4B
PP&E Gross	8.5B	8.5B	8.9B	8.4B	5.2B	5.3B	5.4B	6.1B	6.3B	6.4B
Accumulated Depreciation	(11.2B)	(12.2B)	(13.2B)	(12.6B)	(11B)	(11.4B)	(11.7B)	(12.1B)	(12.5B)	(12.6B)
Goodwill	2.4B	2.7B	2.8B	2.8B	2.8B	2.8B	2.8B	2.9B	2.8B	2.9B
Other Long-Term Assets	4.4B	3.1B	3.1B	3B	3.2B	4.2B	4.1B	4.2B	4.1B	4.3B
Other Assets	2.4B	2.7B	2.8B	2.8B	2.8B	2.8B	2.8B	2.9B	2.8B	2.9B
Total Assets	27B	25.1B	26B	25.4B	20.7B	22.3B	23.3B	24.7B	25.6B	25B
Accounts Payable	1.8B	2.6B	3B	2.4B	1.6B	2.4B	3.1B	3.1B	3.2B	3.1B
Accrued Liabilities	762m	977m	714m	1.1B	1.1B	1B	1.2B	1.3B	1.3B	1.3B
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Current Portion of Long-Term Debt	163m	512m	—	19m	719m	33m	26m	32m	425m	81m
Other Current Liabilities	1.3B	819m	1.1B	1.3B	1.1B	895m	991m	1.1B	1.1B	1.1B
Deferred Revenue	261m	257m	—	—	—	—	—	—	—	—
Total Current Liabilities	4B	4.9B	4.8B	4.9B	4.4B	4.3B	5.3B	5.6B	6.1B	5.6B
Long-Term Debt	12.2B	10.4B	10.3B	10.4B	9.3B	9.2B	8B	7.8B	7.3B	7.3B
Minority Interest	39m	27m	22m	13m	9m	15m	29m	42m	42m	44m
Other Liabilities	1.3B	1.4B	1.3B	2B	2B	2.1B	1.9B	1.9B	1.7B	1.7B
Total Liabilities	17.6B	16.8B	16.5B	17.4B	15.7B	15.6B	15.3B	15.3B	15.1B	14.5B
Common Stock	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B	2.7B
Retained Earnings	14.1B	12.7B	13.7B	12B	8.7B	9.7B	10.6B	12.5B	14.3B	15B
Additional Paid In Capital	201m	207m	211m	143m	0	32m	50m	63m	79m	112m
Treasury Stock	(7.2B)	(6.8B)	(6.7B)	(6.4B)	(6B)	(5.5B)	(5.1B)	(5.5B)	(6.2B)	(7B)
Other Equity	(454m)	(469m)	(355m)	(362m)	(362m)	(183m)	(230m)	(331m)	(353m)	(363m)
Total Equity	9.4B	8.3B	9.5B	8B	5B	6.7B	7.9B	9.4B	10.5B	10.5B
Total Liabilities & Equity	27B	25.1B	26B	25.4B	20.7B	22.3B	23.3B	24.7B	25.6B	25B
Common Shares Outstanding	866m	873m	871m	878m	885m	896m	902m	889m	868m	835m