Halliburton CoHAL +0.79%73 Debt-to-EBITDA is 2.09 as of Mar. 2026, which is 17% below its 10-year median of 2.51. GuruFocus rates HAL with a GF Score™ of 73/100 and a GF Value™ of $33.40 (Fairly Valued). The stock has 2 warning signs investors should review. Among 704 Oil & Gas companies, Halliburton Co ranks worse than 54.4% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Halliburton Co's Debt-to-EBITDA or its related term are showing as below:
HAL'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -6.69 Med: 2.51 Max: 10.37
Current: 2.29
During the past 13 years, the highest Debt-to-EBITDA Ratio of Halliburton Co was 10.37. The lowest was -6.69. And the median was 2.51.
HAL's Debt-to-EBITDA is ranked worse than 54.4% of 704
companies
in the Oil & Gas industry
Industry Median: 2.015
vs HAL: 2.29
Halliburton Co (NYSE:HAL) Debt-to-EBITDA Explanation
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Halliburton Co Debt-to-EBITDA Related Terms
Halliburton Co Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Halliburton Co's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas Equipment & Services subindustry, Halliburton Co's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Halliburton Co Debt-to-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Halliburton Co's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Halliburton Co's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Halliburton Co (HAL) has a Debt-to-EBITDA of 2.09 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Halliburton Co. This is 17% below median its historical median of 2.51. According to the industry distribution chart, Halliburton Co ranks #383 out of 704 companies in the Oil & Gas industry, placing it in the top 54.4%.
Is Halliburton Co's Debt-to-EBITDA too high?
Halliburton Co's current Debt-to-EBITDA of 2.09 is 17% below median its 10-year median of 2.51. The Oil & Gas industry median Debt-to-EBITDA is 2.02. Halliburton Co's value of 2.09 is 3.7% above this industry median. Based on the distribution chart, Halliburton Co ranks #383 out of 704 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Halliburton Co has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Halliburton Co's Debt-to-EBITDA compare to FTI and KGS?
According to the Oil & Gas industry distribution chart, Halliburton Co ranks #383 out of 704 companies for Debt-to-EBITDA. This places Halliburton Co in the lower half of its industry. The industry median Debt-to-EBITDA is 2.02. Halliburton Co's value of 2.09 is 3.7% above this benchmark. While the company's 10-year median is 2.51 vs. the industry median of 2.02, Halliburton Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for an Oil & Gas company?
The median Debt-to-EBITDA among Oil & Gas companies is 2.02, based on 704 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Halliburton Co's current Debt-to-EBITDA of 2.09 is 3.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Halliburton Co. For the Oil & Gas industry, the median Debt-to-EBITDA is 2.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Halliburton Co's current Debt-to-EBITDA is 2.09, which is 17% below median its own 10-year median of 2.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Halliburton Co stock overvalued right now?
Based on GuruFocus' analysis, Halliburton Co (HAL) is currently considered Fairly Valued. The stock's GF Value™ is $33.40, compared to a current price of $34.39 — trading 3% above its estimated fair value. The current Debt-to-EBITDA is 2.09, which is 17% below median its 10-year median of 2.51 and 3.7% above the Oil & Gas industry median of 2.02. Halliburton Co's overall GF Score™ is 73/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Halliburton Co (HAL), the current Debt-to-EBITDA is 2.09 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Halliburton Co (HAL) Overvalued in 2026?
Based on GuruFocus' analysis, Halliburton Co stock appears to be overvalued.
The current stock price of $34.39 is trading 3% above its estimated GF Value™ of $33.40.
GuruFocus considers Halliburton Co to be Fairly Valued.
Key valuation signals for HAL:
Debt-to-EBITDA: 2.09 (17% below median its 10-year median of 2.51)
GF Value™: $33.40 vs. price of $34.39 (3% above fair value)
Industry Position: 3.7% above the Oil & Gas median (#383 of 704)
No single metric tells the full story. See the HAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Halliburton is North America's largest oilfield-services company as measured by market share. Despite industry fragmentation, it holds a leading position in the hydraulic fracturing and completions market, which makes up nearly half of its revenue. It also holds strong positions in other service offerings like drilling and completions fluids, which leverages its expertise in material science, as well as the directional drilling market. While we consider SLB the global leader in reservoir evaluation, we think Halliburton leads in any activity from the reservoir to the wellbore. Halliburton's innovations have helped multiple producers lower their development costs per barrel of oil equivalent, with techniques that have been honed over a century of operations.
73GF Score
Get the complete analysis for HAL
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HAL has been successfully added to your 
