What is Halliburton's work in process?

Halliburton (HAL) reported work in process of $136M in Q1 2026.

How has Halliburton's work in process changed year-over-year?

Halliburton's work in process decreased by 2.9% year-over-year, from $140M to $136M.

What is the long-term trend for Halliburton's work in process?

Over 5 years (2020 to 2025), Halliburton's work in process has grown at a 13.1% compound annual growth rate (CAGR), from $67M to $124M.

What does work in process mean?

Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.

Halliburton HAL Work in process

Work in process at other companies

TETRA TechnologiesTTI

$1.91M—

Patterson-UTI EnergyPTEN

$6.03M-10.7%

Mammoth Energy Services, Inc.TUSK

$888K-75.7%

Nine Energy ServiceNINE

——

TechnipFMCFTI

——

Other financials

Income statement

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Revenue$5.4B-0.3%

Operating income$679.0M+57.5%

Net income$461.0M+126%

EPS (diluted)$0.55+129%

Balance sheet

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Cash & equivalents$2.0B+11.0%

Total debt$8.1B-5.7%

Total equity$10.8B+4.0%

Total assets$25.1B-0.1%

Cash flow

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Operating cash flow$273.0M-27.6%

CapEx$192.0M-36.4%

Free cash flow$81.0M+8.0%

Valuation

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Market cap$28.36B+55.2%

Enterprise value$34.44B+38.5%

P/E18.4×+8.6×

P/S1.3×+0.5×

Profitability

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Gross margin81.4%—

Operating margin11.3%-3.2pp

Net margin6.9%-2.4pp

FCF margin7.6%-2.8pp

Returns & leverage

See full

Return on equity14.6%-6.4pp

Debt / equity0.7×-0.1×

Current ratio2.1×+0.1×

Where this comes from

Reported directly by Halliburton in its filing.

Tagged under the XBRL concept us-gaap:InventoryWorkInProcess.

The official record: Halliburton’s 10-Q, filed April 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Halliburton's work in process?: Halliburton (HAL) reported work in process of $136M in Q1 2026.
How has Halliburton's work in process changed year-over-year?: Halliburton's work in process decreased by 2.9% year-over-year, from $140M to $136M.
What is the long-term trend for Halliburton's work in process?: Over 5 years (2020 to 2025), Halliburton's work in process has grown at a 13.1% compound annual growth rate (CAGR), from $67M to $124M.
What does work in process mean?: Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.