Return on Equity (ROE)
since 2005
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Calculation
Halliburton Co., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income (loss) attributable to company1 | ÷ | Company shareholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2018 | = | 100 | × | ÷ | |||
| Dec 31, 2017 | = | 100 | × | ÷ | |||
| Dec 31, 2016 | = | 100 | × | ÷ | |||
| Dec 31, 2015 | = | 100 | × | ÷ | |||
| Dec 31, 2014 | = | 100 | × | ÷ | |||
| Dec 31, 2013 | = | 100 | × | ÷ | |||
| Dec 31, 2012 | = | 100 | × | ÷ | |||
| Dec 31, 2011 | = | 100 | × | ÷ | |||
| Dec 31, 2010 | = | 100 | × | ÷ | |||
| Dec 31, 2009 | = | 100 | × | ÷ | |||
| Dec 31, 2008 | = | 100 | × | ÷ | |||
| Dec 31, 2007 | = | 100 | × | ÷ | |||
| Dec 31, 2006 | = | 100 | × | ÷ | |||
| Dec 31, 2005 | = | 100 | × | ÷ |
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 net income attributable to the company exhibits considerable volatility over the analyzed period. Initially, net income increased from 2,358 million USD in 2005 to a peak of 3,499 million USD in 2007. Subsequently, it declined sharply to 1,145 million USD in 2009, followed by a recovery and a second peak at 3,500 million USD in 2014. After 2014, the net income turned negative in 2015 and 2016, with losses of -671 million USD and -5,763 million USD respectively, before returning to positive territory in 2018 with 1,656 million USD.
Shareholders' equity demonstrates an overall upward trend from 6,372 million USD in 2005 to a maximum of 16,267 million USD in 2014. However, the equity subsequently decreased sharply in 2016 and 2017, reaching lows of 9,409 million USD and 8,322 million USD respectively, before showing a slight recovery to 9,522 million USD in 2018. This indicates a period of significant equity attrition coinciding with the years of net losses.
Return on equity (ROE) aligns with the trends observed in net income and equity. ROE initially rose from 37.01% in 2005 to a high of 50.96% in 2007, reflecting strong profitability relative to equity. This ratio then declined steadily to 13.12% in 2009, before rebounding to 21.52% in 2014. The subsequent years saw ROE plunge into negative territory at -4.34% in 2015 and a substantial -61.25% in 2016, corresponding with net losses and decreased equity. By 2018, ROE improved markedly to 17.39% as profitability returned.
Overall, the data reveal two distinct phases: an initial growth and profitability phase until about 2014, followed by a period of financial distress characterized by losses, declining equity, and negative ROE. The latter part of the period shows early signs of recovery in net income and ROE, but equity remains below its historical peak.
- Net Income (US$ in millions)
- Growth until 2007, trough in 2009, recovery to 2014 peak, losses in 2015-2016, recovery by 2018.
- Shareholders’ Equity (US$ in millions)
- Steady increase until 2014, sharp decline in 2016-2017, slight recovery in 2018.
- Return on Equity (%)
- High profitability peak in 2007, steady decline to 2009, recovery to 2014, significant negative returns in 2015-2016, improving again by 2018.
Comparison to Competitors
Halliburton Co., ROE, long-term trends, comparison to competitors
| Halliburton Co. | Schlumberger Ltd. | |
|---|---|---|
| Dec 31, 2018 | ||
| Dec 31, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
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 | ||
| Dec 31, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
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).