Halliburton at 8.25X EV/EBITDA with Higher Debt Exposure Than Peers
Halliburton trades at a trailing 12-month EV/EBITDA multiple of 8.25X, below SLB’s 10.28X and the industry average of 10.48X. Its stock has risen 31.2% over the past year, but higher debt exposure versus SLB and SLB’s expected early-2026 slowdown could pressure future gains.
1. Valuation Metrics
Halliburton Company is valued at a trailing 12-month EV/EBITDA multiple of 8.25X, versus SLB’s 10.28X, the broader industry average of 10.48X and Baker Hughes’ 14.23X. This places Halliburton as the cheapest major oilfield services provider on a relative basis.
2. Debt Exposure
Halliburton carries higher debt exposure than SLB, which itself holds more leverage than Baker Hughes. Elevated debt levels may limit Halliburton’s financial flexibility and increase sensitivity to interest-rate movements.
3. Stock Performance
Over the past year, Halliburton’s shares have climbed 31.2%, underperforming the industry’s 40.3% gain and Baker Hughes’ 41.8% advance but outperforming SLB’s 22% rise. This relative underperformance reflects market caution around its leverage and sector dynamics.