Halliburton CoMIL:1HAL 53 Operating Margin % is 12.57% as of Mar. 2026, which is 9% above its 10-year median of 11.50. GuruFocus rates MIL:1HAL with a GF Score™ of 53/100 and a GF Value™ of €30.42 (Fairly Valued). The stock has 2 warning signs investors should review. Among 916 Oil & Gas companies, Halliburton Co ranks better than 65.17% on this metric.
Halliburton Co (MIL:1HAL) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Halliburton Co Operating Margin % Related Terms
Halliburton Co Operating Margin % Historical Data
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The historical data trend for Halliburton Co's Operating Margin % 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.
MIL:1HAL vs FTI, WFRD, NOV: Operating Margin % Comparison
For the Oil & Gas Equipment & Services subindustry, Halliburton Co's Operating Margin %, along with its competitors' market caps and Operating Margin % 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 Operating Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Halliburton Co's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Halliburton Co's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Halliburton Co's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
Halliburton Co (MIL:1HAL) has a Operating Margin % of 12.57% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Halliburton Co and its competitors. This is near median its historical median of 11.50. Over the past decade, Halliburton Co's Operating Margin % has ranged from 4.05 to 17.74. According to the industry distribution chart, Halliburton Co ranks #319 out of 916 companies in the Oil & Gas industry, placing it in the top 34.8%.
Is Halliburton Co's Operating Margin % too high?
Halliburton Co's current Operating Margin % of 12.57% is near median its 10-year median of 11.50. Over the past 10 years, this metric has ranged from a low of 4.05 to a high of 17.74. The Oil & Gas industry median Operating Margin % is 6.86. Halliburton Co's value of 12.57% is 83.2% above this industry median. Based on the distribution chart, Halliburton Co ranks #319 out of 916 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Halliburton Co has a GF Score™ of 53/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Halliburton Co's Operating Margin % compare to FTI and WFRD?
According to the Oil & Gas industry distribution chart, Halliburton Co ranks #319 out of 916 companies for Operating Margin %. This puts Halliburton Co in the upper half of its industry. The industry median Operating Margin % is 6.86. Halliburton Co's value of 12.57% is 83.2% above this benchmark. Historically, Halliburton Co's own Operating Margin % has ranged from 4.05 to 17.74 over the past decade. While the company's 10-year median is 11.50 vs. the industry median of 6.86, 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 Operating Margin % for an Oil & Gas company?
The median Operating Margin % among Oil & Gas companies is 6.86, based on 916 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Halliburton Co's current Operating Margin % of 12.57% is 83.2% 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 Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Halliburton Co and its competitors. For the Oil & Gas industry, the median Operating Margin % is 6.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Halliburton Co's current Operating Margin % is 12.57%, which is near median its own 10-year median of 11.50. 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 (MIL:1HAL) is currently considered Fairly Valued. The stock's GF Value™ is €30.42, compared to a current price of €30.91 — trading 1.6% above its estimated fair value. The current Operating Margin % is 12.57%, which is near median its 10-year median of 11.50 and 83.2% above the Oil & Gas industry median of 6.86. Halliburton Co's overall GF Score™ is 53/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Halliburton Co (MIL:1HAL), the current Operating Margin % is 12.57% 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 (MIL:1HAL) Overvalued in 2026?
Based on GuruFocus' analysis, Halliburton Co stock appears to be overvalued.
The current stock price of €30.91 is trading 1.6% above its estimated GF Value™ of €30.42.
GuruFocus considers Halliburton Co to be Fairly Valued.
Key valuation signals for MIL:1HAL:
Operating Margin %: 12.57% (near median its 10-year median of 11.50)
GF Value™: €30.42 vs. price of €30.91 (1.6% above fair value)
Industry Position: 83.2% above the Oil & Gas median (#319 of 916)
No single metric tells the full story. See the MIL:1HAL 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.
53GF Score
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