Halliburton Company (HAL) Balance Sheet

NYSE: HALAssets, liabilities, debt and equity over 10 years.

HAL balance sheet, 2025

December 31, 2025 · U.S. dollars

$25.01B assets = $14.51B liabilities + $10.51B equity

Both columns are drawn to the same scale: what HAL owns equals what it owes plus shareholders’ equity. Hover a block for its value.

HAL financial health

Current ratio2.04

Comfortable · current assets cover current liabilities 2.04×

Debt / equity0.78

Moderate leverage · $0.78 of debt for each $1 of equity

Equity / assets41.8%

Equity-funded · of assets funded by shareholders

Cash / debt27.1%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles11.7%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

HAL balance sheet trends, 2016–2025

Halliburton Company balance sheet trends
Metric	Then	Latest	Change
Total assets	$27.00B2016	$25.01B2025	−0.8%/yr
Total liabilities	$17.58B2016	$14.51B2025	−2.1%/yr
Shareholders’ equity	$9.38B2016	$10.46B2025	+1.2%/yr
Cash & short-term investments	$4.01B2016	$2.21B2025	−6.4%/yr
Total debt	$12.38B2016	$8.13B2025	−4.6%/yr
Net cash (debt)	−$8.38B2016	−$5.93B2025	+$2.4B
Working capital	$7.65B2016	$5.81B2025	−$1.8B
Book value per share	$10.902016	$12.452025	+1.5%/yr
Current ratio	2.902016	2.042025	−0.86
Debt / equity	1.322016	0.782025	−0.54
Shares outstanding	861.0M2016	840.0M2025	−0.3%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

HAL assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

HAL liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

HAL debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

HAL balance sheet

Halliburton Company annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$2.21B	$2.62B	$2.26B	$2.35B	$3.04B	$2.56B	$2.27B	$2.01B	$2.34B	$4.01B
Cash & equivalents	$2.21B	$2.62B	$2.26B	$2.35B	$3.04B	$2.56B	$2.27B	$2.01B	$2.34B	$4.01B
Short-term investments	—	—	—	—	—	—	—	—	$69.0M	$56.0M
Receivables	$4.94B	$5.12B	$4.86B	$4.63B	$3.67B	$3.07B	$4.58B	$5.23B	$5.04B	$3.92B
Inventory	$2.98B	$3.04B	$3.23B	$2.92B	$2.36B	$2.35B	$3.14B	$3.03B	$2.40B	$2.27B
Other current assets	$1.27B	$1.61B	$1.19B	$1.06B	$872.0M	$1.49B	$1.23B	$881.0M	$1.01B	$1.47B
Total current assets	$11.40B	$12.38B	$11.54B	$10.95B	$9.94B	$9.47B	$11.21B	$11.15B	$10.78B	$11.68B
Property, plant & equipment (net)	$5.26B	$6.13B	$5.99B	$5.26B	$5.26B	$5.11B	$8.24B	$8.87B	$8.52B	$8.53B
Goodwill & intangible assets	$2.94B	$2.84B	$2.85B	$2.83B	$2.84B	$2.80B	$2.81B	$2.83B	$5.39B	$4.83B
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$37.0M	$0
Other non-current assets	$5.41B	$4.23B	$4.30B	$4.21B	$4.28B	$3.29B	$3.11B	$3.13B	$364.0M	$1.97B
Total assets	$25.01B	$25.59B	$24.68B	$23.25B	$22.32B	$20.68B	$25.38B	$25.98B	$25.09B	$27.00B
Liabilities
Accounts payable	$3.13B	$3.19B	$3.15B	$3.12B	$2.35B	$1.57B	$2.43B	$3.02B	$2.55B	$1.76B
Short-term debt	$263.0M	$688.0M	$262.0M	$224.0M	$247.0M	$946.0M	$219.0M	$36.0M	$512.0M	$170.0M
Deferred revenue	—	−$383.0M	$1.45B	$2.64B	$493.0M	$517.0M	$604.0M	$714.0M	$257.0M	$261.0M
Total current liabilities	$5.59B	$6.05B	$5.61B	$5.34B	$4.31B	$4.42B	$4.88B	$4.80B	$4.86B	$4.02B
Long-term debt	$7.16B	$7.29B	$7.77B	$7.93B	$9.13B	$9.13B	$10.32B	$10.42B	$10.43B	$12.21B
Lease obligations	$975.0M	$1.06B	$1.17B	$1.01B	$1.08B	$1.01B	$1.03B	—	—	—
Other long-term liabilities	$1.76B	$1.70B	$1.87B	$2.00B	$2.16B	$2.14B	$2.16B	$1.22B	$1.44B	$1.31B
Total liabilities	$14.51B	$15.04B	$15.25B	$15.28B	$15.59B	$15.70B	$17.35B	$16.44B	$16.74B	$17.58B
Shareholders' equity
Common stock & paid-in capital	$2.66B	$2.66B	$2.66B	$2.66B	$2.67B	$2.67B	$2.67B	$2.67B	$2.88B	$2.88B
Retained earnings (deficit)	$15.04B	$14.33B	$12.54B	$10.57B	$9.71B	$8.69B	$11.99B	$13.74B	$12.67B	$14.14B
Treasury stock	—	—	—	−$5.11B	−$5.51B	−$6.02B	−$6.43B	−$6.74B	−$6.76B	−$7.15B
Accumulated other comprehensive income	−$363.0M	−$353.0M	−$331.0M	−$230.0M	−$183.0M	−$362.0M	−$362.0M	−$355.0M	−$469.0M	−$454.0M
Minority interest	$44.0M	$42.0M	$42.0M	$29.0M	$15.0M	$9.0M	$13.0M	$22.0M	$27.0M	$39.0M
Total shareholders' equity	$10.46B	$10.51B	$9.39B	$7.95B	$6.71B	$4.97B	$8.01B	$9.52B	$8.32B	$9.38B
Key figures
Total debt	$8.13B	$8.77B	$8.81B	$8.94B	$10.22B	$10.84B	$11.36B	$10.35B	$10.94B	$12.38B
Net cash (debt)	−$5.93B	−$6.15B	−$6.54B	−$6.60B	−$7.17B	−$8.27B	−$9.09B	−$8.34B	−$8.61B	−$8.38B
Working capital	$5.81B	$6.33B	$5.93B	$5.61B	$5.64B	$5.05B	$6.33B	$6.35B	$5.92B	$7.65B
Tangible book value	$7.52B	$7.67B	$6.54B	$5.12B	$3.87B	$2.17B	$5.20B	$6.70B	$2.94B	$4.56B
Book value per share	$12.45	$11.90	$10.41	$8.75	$7.53	$5.65	$9.16	$10.86	$9.57	$10.90
Shares outstanding	840.0M	883.0M	902.0M	908.0M	892.0M	881.0M	875.0M	877.0M	870.0M	861.0M
Current ratio	2.04	2.05	2.06	2.05	2.31	2.14	2.30	2.32	2.22	2.90
Quick ratio	1.28	1.28	1.27	1.30	1.56	1.27	1.40	1.51	1.52	1.97
Debt / equity	0.78	0.83	0.94	1.13	1.52	2.18	1.42	1.09	1.31	1.32
Equity / assets	41.8%	41.1%	38.0%	34.2%	30.1%	24.1%	31.6%	36.6%	33.2%	34.7%

Halliburton Company quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$2.05B	$2.00B	$2.21B	$2.03B	$2.04B	$1.80B	$2.62B	$2.18B	$2.14B	$1.89B	$2.26B	$2.04B
Cash & equivalents	$2.05B	$2.00B	$2.21B	$2.03B	$2.04B	$1.80B	$2.62B	$2.18B	$2.14B	$1.89B	$2.26B	$2.04B
Receivables	$5.33B	$5.20B	$4.94B	$5.16B	$4.97B	$5.20B	$5.12B	$5.34B	$5.33B	$5.10B	$4.86B	$5.12B
Inventory	$3.06B	$3.02B	$2.98B	$3.10B	$3.07B	$3.04B	$3.04B	$3.19B	$3.28B	$3.26B	$3.23B	$3.34B
Other current assets	$1.45B	$1.32B	$1.27B	$1.36B	$1.59B	$1.48B	$1.61B	$1.33B	$1.13B	$1.17B	$1.19B	$1.10B
Total current assets	$11.88B	$11.54B	$11.40B	$11.64B	$11.67B	$11.53B	$12.38B	$12.04B	$11.88B	$11.42B	$11.54B	$11.60B
Property, plant & equipment (net)	$6.19B	$5.18B	$6.20B	$6.15B	$6.22B	$6.13B	$6.13B	$5.95B	$6.10B	$6.05B	$5.99B	$5.76B
Goodwill & intangible assets	$3.02B	$2.99B	$2.94B	$2.94B	$2.96B	$2.89B	$2.84B	$2.84B	$2.86B	$2.85B	$2.85B	$2.85B
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$4.73B	$5.43B	$4.47B	$4.44B	$4.52B	$4.63B	$4.23B	$4.50B	$4.32B	$4.33B	$4.30B	$4.23B
Total assets	$25.83B	$25.14B	$25.01B	$25.16B	$25.38B	$25.18B	$25.59B	$25.33B	$25.15B	$24.65B	$24.68B	$24.44B
Liabilities
Accounts payable	$3.46B	$3.21B	$3.13B	$3.18B	$3.23B	$3.17B	$3.19B	$3.01B	$3.29B	$3.09B	$3.15B	$3.24B
Short-term debt	$377.0M	$333.0M	$263.0M	$676.0M	$642.0M	$645.0M	$644.0M	$251.0M	$258.0M	$267.0M	$262.0M	$248.0M
Deferred revenue	—	—	—	—	—	—	—	—	$402.0M	$428.0M	$1.45B	$643.0M
Total current liabilities	$5.89B	$5.54B	$5.59B	$5.95B	$5.84B	$5.82B	$6.05B	$5.46B	$5.58B	$5.38B	$5.61B	$5.42B
Long-term debt	$7.07B	$7.07B	$7.16B	$7.16B	$7.16B	$7.16B	$7.16B	$7.64B	$7.64B	$7.64B	$7.64B	$7.78B
Lease obligations	$1.04B	$921.0M	$975.0M	$1.03B	$1.02B	$1.03B	$1.06B	$1.06B	$1.09B	$1.15B	$1.17B	$1.12B
Other long-term liabilities	$1.82B	$1.71B	$1.76B	$1.81B	$1.82B	$1.79B	$1.83B	$1.88B	$1.89B	$1.96B	$2.01B	$2.05B
Total liabilities	$14.78B	$14.32B	$14.51B	$14.92B	$14.83B	$14.77B	$15.04B	$14.98B	$15.11B	$14.97B	$15.25B	$15.25B
Shareholders' equity
Common stock & paid-in capital	$2.66B	$2.66B	$2.66B	$2.66B	$2.66B	$2.66B	$2.66B	$2.66B	$2.66B	$2.66B	$2.66B	$2.66B
Retained earnings (deficit)	$15.72B	$15.36B	$15.04B	$14.59B	$14.72B	$14.39B	$14.33B	$13.87B	$13.45B	$12.99B	$12.54B	$12.02B
Accumulated other comprehensive income	−$343.0M	−$343.0M	−$363.0M	−$354.0M	−$356.0M	−$359.0M	−$353.0M	−$329.0M	−$332.0M	−$332.0M	−$331.0M	−$227.0M
Minority interest	$42.0M	$45.0M	$44.0M	$43.0M	$42.0M	—	—	—	—	—	—	—
Total shareholders' equity	$11.01B	$10.82B	$10.46B	$10.20B	$10.51B	$10.37B	$10.51B	$10.30B	$10.00B	$9.64B	$9.39B	$9.15B
Key figures
Total debt	$8.20B	$8.08B	$8.13B	$8.57B	$8.56B	$8.57B	$8.60B	$8.70B	$8.73B	$8.79B	$8.81B	$8.90B
Net cash (debt)	−$6.15B	−$6.08B	−$5.93B	−$6.54B	−$6.52B	−$6.77B	−$5.98B	−$6.52B	−$6.59B	−$6.90B	−$6.54B	−$6.86B
Working capital	$6.00B	$6.00B	$5.81B	$5.68B	$5.83B	$5.71B	$6.33B	$6.58B	$6.30B	$6.04B	$5.93B	$6.18B
Tangible book value	$7.99B	$7.83B	$7.52B	$7.26B	$7.54B	$7.48B	$7.67B	$7.46B	$7.14B	$6.79B	$6.54B	$6.30B
Book value per share	$13.14	$12.90	$12.45	$12.00	$12.19	$11.97	$11.90	$11.69	$11.29	$10.81	$10.47	$10.14
Shares outstanding	838.0M	839.0M	840.0M	850.0M	862.0M	866.0M	883.0M	881.0M	886.0M	891.0M	897.0M	902.0M
Current ratio	2.02	2.08	2.04	1.95	2.00	1.98	2.05	2.21	2.13	2.12	2.06	2.14
Quick ratio	1.25	1.30	1.28	1.21	1.20	1.20	1.28	1.38	1.34	1.30	1.27	1.32
Debt / equity	0.74	0.75	0.78	0.84	0.81	0.83	0.82	0.84	0.87	0.91	0.94	0.97
Equity / assets	42.6%	43.1%	41.8%	40.5%	41.4%	41.2%	41.1%	40.6%	39.8%	39.1%	38.0%	37.4%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 6, 2026); data from EODHD.

HAL financial position

At the end of fiscal 2025 (December 31, 2025), Halliburton had total assets of $25.0 billion (down 2.3% from a year earlier), total liabilities of $14.5 billion and shareholders' equity of $10.5 billion. It held $2.2 billion in cash and short-term investments against $8.1 billion of debt, net debt of $5.9 billion. Its current ratio was 2.04. In the latest quarter (ended June 30, 2026) total assets were $25.8 billion and equity $11.0 billion.

Related: HAL income statement, HAL cash flow statement, HAL key metrics. See the HAL stock overview for the latest quote and news.

HAL balance sheet FAQ

What are Halliburton's total assets?

Halliburton reported total assets of $25.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $25.6 billion a year earlier.

How much debt does Halliburton have?

Halliburton had $8.1 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.78.

How much cash does Halliburton have?

Halliburton held $2.2 billion in cash and short-term investments at the end of fiscal 2025; with $8.1 billion of debt that is net debt of $5.9 billion.

What is Halliburton's book value?

Halliburton's shareholders' equity (book value) was $10.5 billion at the end of fiscal 2025, or $12.45 per share.

What is Halliburton's current ratio?

Halliburton had current assets of $11.4 billion and current liabilities of $5.6 billion, a current ratio of 2.04 (it can cover its short-term obligations).

How much goodwill does Halliburton have?

Halliburton carried $2.9 billion of goodwill and intangible assets, 11.7% of total assets, at the end of fiscal 2025.