Halliburton CoHAL -0.35%73 Return-on-Tangible-Equity is 24.09% as of Mar. 2026, which is 10% above its 10-year median of 21.88. GuruFocus rates HAL with a GF Score™ of 73/100 and a GF Value™ of $33.37 (Fairly Valued). The stock has 2 warning signs investors should review. Among 948 Oil & Gas companies, Halliburton Co ranks better than 79.11% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Halliburton Co's annualized net income for the quarter that ended in Mar. 2026 was $1,844 Mil. Halliburton Co's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $7,656 Mil. Therefore, Halliburton Co's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 24.09%.
The historical rank and industry rank for Halliburton Co's Return-on-Tangible-Equity or its related term are showing as below:
HAL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -79.92 Med: 21.88 Max: 48.25
Current: 20.48
During the past 13 years, Halliburton Co's highest Return-on-Tangible-Equity was 48.25%. The lowest was -79.92%. And the median was 21.88%.
HAL's Return-on-Tangible-Equity is ranked better than 79.11% of 948
companies
in the Oil & Gas industry
Industry Median: 6.715
vs HAL: 20.48
Halliburton Co (NYSE:HAL) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Halliburton Co Return-on-Tangible-Equity Related Terms
Halliburton Co Return-on-Tangible-Equity Historical Data
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The historical data trend for Halliburton Co's Return-on-Tangible-Equity 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.
HAL vs FTI, KGS, AROC: Return-on-Tangible-Equity Comparison
For the Oil & Gas Equipment & Services subindustry, Halliburton Co's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Halliburton Co's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Halliburton Co's Return-on-Tangible-Equity 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 Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 24.09% mean?
Halliburton Co (HAL) has a Return-on-Tangible-Equity of 24.09% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Halliburton Co and its competitors. This is 10% above median its historical median of 21.88. According to the industry distribution chart, Halliburton Co ranks #198 out of 948 companies in the Oil & Gas industry, placing it in the top 20.9%.
Is Halliburton Co's Return-on-Tangible-Equity too high?
Halliburton Co's current Return-on-Tangible-Equity of 24.09% is 10% above median its 10-year median of 21.88. The Oil & Gas industry median Return-on-Tangible-Equity is 6.72. Halliburton Co's value of 24.09% is 258.7% above this industry median. Based on the distribution chart, Halliburton Co ranks #198 out of 948 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. 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 Return-on-Tangible-Equity compare to FTI and KGS?
According to the Oil & Gas industry distribution chart, Halliburton Co ranks #198 out of 948 companies for Return-on-Tangible-Equity. This places Halliburton Co in the top 21% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.72. Halliburton Co's value of 24.09% is 258.7% above this benchmark. While the company's 10-year median is 21.88 vs. the industry median of 6.72, 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 Return-on-Tangible-Equity for an Oil & Gas company?
The median Return-on-Tangible-Equity among Oil & Gas companies is 6.72, based on 948 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Halliburton Co's current Return-on-Tangible-Equity of 24.09% is 258.7% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Halliburton Co and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Equity is 6.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Halliburton Co's current Return-on-Tangible-Equity is 24.09%, which is 10% above median its own 10-year median of 21.88. 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 $33.37, compared to a current price of $34.09 — trading 2.2% above its estimated fair value. The current Return-on-Tangible-Equity is 24.09%, which is 10% above median its 10-year median of 21.88 and 258.7% above the Oil & Gas industry median of 6.72. 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 Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Halliburton Co (HAL), the current Return-on-Tangible-Equity is 24.09% 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 $34.09 is trading 2.2% above its estimated GF Value™ of $33.37.
GuruFocus considers Halliburton Co to be Fairly Valued.
Key valuation signals for HAL:
Return-on-Tangible-Equity: 24.09% (10% above median its 10-year median of 21.88)
GF Value™: $33.37 vs. price of $34.09 (2.2% above fair value)
Industry Position: 258.7% above the Oil & Gas median (#198 of 948)
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
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