Stock Analysis on Net
Stock Analysis on Net

Halliburton Co. (NYSE:HAL)

$22.49

This company has been moved to the archive! The financial data has not been updated since February 13, 2019.

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Microsoft Excel

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

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Long-term Activity Ratios (Summary)

Halliburton Co., long-term (investment) activity ratios (quarterly data)

Microsoft Excel
Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Net fixed asset turnover
Total asset turnover
Equity turnover

Based on: 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

Net Fixed Asset Turnover
The net fixed asset turnover shows a generally decreasing trend from March 2015 to December 2016, starting at 2.63 and dropping to 1.86. From early 2017 onward, this ratio exhibits a steady recovery, increasing consistently to reach 2.68 by September 2018, with a slight decline to 2.68 in the last quarter of 2018. This pattern indicates a decrease in efficiency in utilizing fixed assets in the earlier periods followed by improved asset utilization in later periods.
Total Asset Turnover
Total asset turnover started at 1.02 in March 2015, experienced a decline reaching a low of 0.59 in the first quarter of 2017, suggesting a reduction in the efficiency of turning total assets into sales. This ratio then gradually improved over the subsequent quarters, climbing steadily to 0.93 by the end of 2018. The initial decline followed by gradual improvement suggests challenges in asset utilization that were addressed over time, leading to enhanced efficiency.
Equity Turnover
Equity turnover exhibits a notable decrease between March 2015 (2.02) and December 2015 (1.77), followed by further decline to a low of 1.53 in March 2016. Afterward, there is a progressive increase, surpassing previous levels and reaching a peak of 2.67 in September 2018 before experiencing a slight decline to 2.52 by December 2018. This trend reflects initial diminished efficiency in utilizing shareholders' equity to generate revenue, followed by a strengthening performance in later periods.

Net Fixed Asset Turnover

Halliburton Co., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Revenue
Property, plant, and equipment, net of accumulated depreciation
Long-term Activity Ratio
Net fixed asset turnover1
Benchmarks
Net Fixed Asset Turnover, Competitors2
Schlumberger Ltd.

Based on: 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

1 Q4 2018 Calculation
Net fixed asset turnover = (RevenueQ4 2018 + RevenueQ3 2018 + RevenueQ2 2018 + RevenueQ1 2018) ÷ Property, plant, and equipment, net of accumulated depreciation
= ( + + + ) ÷ =

2 Click competitor name to see calculations.

Revenue Trends
The revenue exhibits significant fluctuations over the observed quarters. Initially, there is a steady increase from $7,348 million in the first quarter of 2014 to a peak of $8,770 million by December 2014. Subsequently, a downward trend is observed in 2015, declining to $5,082 million by the end of the year. The revenue continues to decrease until reaching its lowest point about mid-2016 at approximately $3,833 million. After this low, the revenue gradually recovers, reaching $5,940 million by the end of 2017, before stabilizing around $5,900 million in 2018, with only minor fluctuations.
Property, Plant, and Equipment, Net of Accumulated Depreciation
The net value of property, plant, and equipment shows a gentle upward trend from $11,463 million at the start of 2014 to a peak of $12,475 million in December 2014. However, beginning in 2015, there is a notable decrease that continues through 2016, bottoming out at $8,532 million. The value remains relatively stable afterward, fluctuating slightly between approximately $8,374 million and $8,961 million through 2017 and 2018, indicating a period of capital expenditure restraint or asset disposals.
Net Fixed Asset Turnover Ratio
The net fixed asset turnover ratio begins at 2.63 in September 2014 and remains relatively stable at around 2.6 through the end of 2014 and early 2015. In 2016, the ratio declines steadily to a low point of 1.86, reflecting a decrease in revenue relative to the fixed asset base during that period. From 2017 onwards, the ratio shows a consistent recovery, rising to 2.72 by the third quarter of 2018 and maintaining around this level thereafter. This improvement suggests enhanced efficiency in utilizing fixed assets to generate revenue over time, especially notable toward the end of the dataset.
Overall Observations
The data reveals a cyclical pattern, with a peak in revenue and asset base in 2014, followed by a downturn lasting through mid-2016. This is accompanied by a corresponding dip in asset turnover efficiency. Following this period, a gradual recovery is evident in all key indicators, with revenues increasing and asset turnover improving, despite the net fixed asset value remaining relatively subdued compared to the initial period. This may indicate improved operational efficiency, better asset utilization, or strategic restructuring in response to market conditions during the downturn.

Total Asset Turnover

Halliburton Co., total asset turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Revenue
Total assets
Long-term Activity Ratio
Total asset turnover1
Benchmarks
Total Asset Turnover, Competitors2
Schlumberger Ltd.

Based on: 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

1 Q4 2018 Calculation
Total asset turnover = (RevenueQ4 2018 + RevenueQ3 2018 + RevenueQ2 2018 + RevenueQ1 2018) ÷ Total assets
= ( + + + ) ÷ =

2 Click competitor name to see calculations.

Revenue Trend
The revenue experienced fluctuations over the observed period. Starting at 7,348 million US dollars in the first quarter of 2014, it increased through 2014, peaking at 8,770 million by the end of that year. However, revenue declined steadily through 2015 and 2016, reaching a low of 3,833 million in the third quarter of 2016. Beginning in 2017, a recovery was evident with a gradual increase, culminating in a revenue of 6,172 million in the third quarter of 2018, before slightly dropping to 5,936 million by the last quarter of 2018.
Total Assets Trend
Total assets mostly trended downward over the examined timeframe. The level started at 29,256 million US dollars in early 2014, saw minor fluctuations, and reached a notable peak of 36,942 million at the end of 2015. Following that peak, total assets generally declined, bottoming at 24,885 million in the first quarter of 2017. Afterward, assets stabilized somewhat, slightly increasing and remaining within a narrow range around 25,000 to 26,000 million through the end of 2018.
Total Asset Turnover Ratio
The total asset turnover ratio, a measure of efficiency in using assets to generate revenue, showed variability associated with the revenue and asset trends. Starting near 1.02 at the end of 2014, the ratio declined sharply in 2015 to lows around 0.59 - 0.64, indicating decreased efficiency amid falling revenues. From early 2017 onward, the ratio showed consistent improvement, rising from approximately 0.64 to a peak of 0.93 by the third quarter of 2018, before a minor dip in the last quarter. This suggests a progressive recovery in asset utilization efficiency concurrent with the revenue rebound.
Overall Insights
The financial data reveals an initial phase of growth followed by a significant downturn across revenue and asset metrics around 2015-2016, corresponding to broader industry or market challenges. The subsequent period from 2017 to 2018 demonstrates signs of stabilization and recovery, with revenue increasing and asset efficiency improving. Despite the total asset base contracting from its mid-2015 peak, improved turnover ratios imply that asset utilization has become more effective, supporting higher revenue relative to asset levels.

Equity Turnover

Halliburton Co., equity turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Revenue
Company shareholders’ equity
Long-term Activity Ratio
Equity turnover1
Benchmarks
Equity Turnover, Competitors2
Schlumberger Ltd.

Based on: 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

1 Q4 2018 Calculation
Equity turnover = (RevenueQ4 2018 + RevenueQ3 2018 + RevenueQ2 2018 + RevenueQ1 2018) ÷ Company shareholders’ equity
= ( + + + ) ÷ =

2 Click competitor name to see calculations.

Revenue
Revenue exhibited a fluctuating trend during the analyzed periods. Initially, it increased from 7,348 million USD in March 2014 to a peak of 8,770 million USD in December 2014. Following this peak, revenue consistently declined throughout 2015 and 2016, reaching a low of approximately 3,833 million USD in September 2016. Starting in early 2017, revenue showed a gradual recovery, increasing steadily to around 6,172 million USD by September 2018 before experiencing a slight decline at the end of 2018 to 5,936 million USD.
Company Shareholders' Equity
Shareholders' equity rose steadily in the first year, growing from 13,725 million USD in March 2014 to 16,267 million USD by December 2014. From early 2015, equity demonstrated a declining trend, falling sharply through 2015 and 2016 to a low of approximately 8,951 million USD in March 2017. Thereafter, the equity started a modest recovery trend, gradually increasing to reach 9,522 million USD at the end of 2018.
Equity Turnover Ratio
Equity turnover, which measures revenue generated per unit of shareholders' equity, was initially stable around 2.02 to 2.09 in early 2015. It then decreased, reaching a low of 1.53 in March 2016, corresponding with the period of declining revenue and equity. From this point, the ratio began to improve, showing a steady upward trend throughout 2017 and 2018, exceeding its early period levels and reaching over 2.5 by mid-2018. This upward trend suggests improved efficiency in generating revenue from shareholders' equity during the recovery phase.
Overall Analysis
The data indicates that the company experienced a significant downturn between 2015 and early 2017, characterized by declining revenue and equity, likely reflecting operational or market challenges. The recovery period starting in 2017 is marked by incremental increases in both revenue and shareholders' equity and an improving equity turnover ratio, highlighting enhanced profitability and capital efficiency. Nonetheless, revenue towards the end of the period showed some volatility, warranting continued monitoring.