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Halliburton HAL Operating margin

Operating margin at other companies

Schlumberger
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Schlumberger SLB
19.4%+2.6pp
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Baker HughesBKR
11.1%+2.0pp
Texas Pacific Land logo
Texas Pacific LandTPL
74.4%-1.6pp

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-5.8%
Total equity$10.8B+4.0%
Total assets$25.1B-0.2%

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$30.27B+48.3%
Enterprise value$36.34B+34.5%
P/E19.7×+9.9×
P/S1.4×+0.5×

Profitability

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Gross margin81.4%
Net margin6.9%-2.4pp

Returns & leverage

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Return on equity14.6%-6.4pp
Debt / equity0.7×-0.1×
Current ratio2.1×+0.1×

Where this comes from

Calculated from Halliburton’s reported figures.

Based on trailing twelve months.

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 operating margin?
Halliburton (HAL) reported operating margin of 11.3% in Q1 2026.
How has Halliburton's operating margin changed year-over-year?
Halliburton's operating margin decreased by 21.9% year-over-year, from 14.5% to 11.3%.
What is the long-term trend for Halliburton's operating margin?
Over 4 years (2021 to 2025), Halliburton's operating margin has grown at a 35.4% compound annual growth rate (CAGR), from 14.6% to 49%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.