Return on Equity (ROE)
since 2005
Calculation
Halliburton Co., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income (loss) attributable to company1 | ÷ | Company shareholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2018 | 17.39% | = | 100 | × | 1,656) | ÷ | 9,522) |
| Dec 31, 2017 | -5.56% | = | 100 | × | (463) | ÷ | 8,322) |
| Dec 31, 2016 | -61.25% | = | 100 | × | (5,763) | ÷ | 9,409) |
| Dec 31, 2015 | -4.34% | = | 100 | × | (671) | ÷ | 15,462) |
| Dec 31, 2014 | 21.52% | = | 100 | × | 3,500) | ÷ | 16,267) |
| Dec 31, 2013 | 15.65% | = | 100 | × | 2,125) | ÷ | 13,581) |
| Dec 31, 2012 | 16.71% | = | 100 | × | 2,635) | ÷ | 15,765) |
| Dec 31, 2011 | 21.51% | = | 100 | × | 2,839) | ÷ | 13,198) |
| Dec 31, 2010 | 17.69% | = | 100 | × | 1,835) | ÷ | 10,373) |
| Dec 31, 2009 | 13.12% | = | 100 | × | 1,145) | ÷ | 8,728) |
| Dec 31, 2008 | 19.91% | = | 100 | × | 1,538) | ÷ | 7,725) |
| Dec 31, 2007 | 50.96% | = | 100 | × | 3,499) | ÷ | 6,866) |
| Dec 31, 2006 | 31.83% | = | 100 | × | 2,348) | ÷ | 7,376) |
| Dec 31, 2005 | 37.01% | = | 100 | × | 2,358) | ÷ | 6,372) |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The financial trajectory from 2005 to 2018 is characterized by a period of sustained growth and high capital efficiency, followed by a severe contraction and a subsequent recovery phase.
- Net Income Trends
- Profitability remained positive and generally robust between 2005 and 2014, reaching a peak of 3.5 billion USD in 2014. This stability was interrupted by a sharp decline starting in 2015, culminating in a significant net loss of 5.76 billion USD in 2016. A recovery was observed in 2018, as net income returned to a positive 1.66 billion USD.
- Shareholders' Equity Evolution
- Equity grew steadily from 6.37 billion USD in 2005 to a peak of 16.27 billion USD in 2014. This accumulation of equity was sharply reversed during the 2015-2017 period, where equity fell to a low of 8.32 billion USD, reflecting the impact of heavy net losses on the balance sheet. By 2018, equity began to recover, rising to 9.52 billion USD.
- Return on Equity (ROE) Performance
- The ROE exhibited extreme volatility over the 13-year period. An initial phase of high efficiency is evident from 2005 to 2007, with ROE peaking at 50.96%. From 2008 to 2014, the ROE stabilized, fluctuating between 13.12% and 21.52%. A catastrophic decline occurred between 2015 and 2017, with the ratio reaching a minimum of -61.25% in 2016. The trend normalized in 2018, with ROE returning to 17.39%, indicating a restoration of the company's ability to generate profit from shareholders' capital.
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Comparison to Competitors
Halliburton Co., ROE, long-term trends, comparison to competitors
| Halliburton Co. | SLB N.V. | |
|---|---|---|
| Dec 31, 2018 | 17.39% | 5.91% |
| Dec 31, 2017 | -5.56% | -4.09% |
| Dec 31, 2016 | -61.25% | -4.11% |
| Dec 31, 2015 | -4.34% | 5.81% |
| Dec 31, 2014 | 21.52% | 14.37% |
| Dec 31, 2013 | 15.65% | 17.06% |
| Dec 31, 2012 | 16.71% | 15.80% |
| Dec 31, 2011 | 21.51% | 15.98% |
| Dec 31, 2010 | 17.69% | 13.66% |
| Dec 31, 2009 | 13.12% | 16.39% |
| Dec 31, 2008 | 19.91% | 32.23% |
| Dec 31, 2007 | 50.96% | 34.80% |
| Dec 31, 2006 | 31.83% | 35.60% |
| Dec 31, 2005 | 37.01% | 29.07% |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
Halliburton Co., ROE, long-term trends, comparison to industry (energy)
| Halliburton Co. | Energy | |
|---|---|---|
| Dec 31, 2018 | 17.39% | 10.63% |
| Dec 31, 2017 | -5.56% | 6.58% |
| Dec 31, 2016 | -61.25% | 0.52% |
| Dec 31, 2015 | -4.34% | 4.61% |
| Dec 31, 2014 | 21.52% | 15.28% |
| Dec 31, 2013 | 15.65% | 16.85% |
| Dec 31, 2012 | 16.71% | 22.06% |
| Dec 31, 2011 | 21.51% | 22.94% |
| Dec 31, 2010 | 17.69% | 18.51% |
| Dec 31, 2009 | 13.12% | 13.29% |
| Dec 31, 2008 | 19.91% | 21.20% |
| Dec 31, 2007 | 50.96% | 25.23% |
| Dec 31, 2006 | 31.83% | 27.51% |
| Dec 31, 2005 | 37.01% | 28.17% |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).