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Halliburton vs Oceaneering International: revenue, profit, margins and growth compared

Halliburton brought in $22.2B of revenue in fiscal 2025, Oceaneering International $2.8B in fiscal 2025. Revenue changed by -3.3% at Halliburton and +4.6% at Oceaneering International on the year before, so Oceaneering International grew faster. Halliburton kept 5.8% of its revenue as net profit, Oceaneering International 12.7%. Free cash flow was $1.7B at Halliburton and $207.8M at Oceaneering International.

Side by side, latest fiscal year

HALOII
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$22.2B$2.8B
Revenue growth-3.3%+4.6%
Net income$1.3B$353.8M
Net margin5.8%12.7%
Free cash flow$1.7B$207.8M
Free cash flow margin7.5%7.5%
Earnings per share (diluted)n/a$3.49
Cash$2.2B$688.9M
Debt$7.2B$487.4M
Price to earningsn/a13.3
Market value$27.3B$4.6B
Dividend yieldn/an/a
Rank by revenue in sector#16 of 129 · Energy#48 of 129 · Energy

Over the years

Revenue
HAL FY2018: $24BHAL FY2019: $22.4BHAL FY2020: $14.4BHAL FY2021: $15.3BHAL FY2022: $20.3BHAL FY2023: $23BHAL FY2024: $22.9BHAL FY2025: $22.2BOII FY2018: $1.9BOII FY2019: $2BOII FY2020: $1.8BOII FY2021: $1.9BOII FY2022: $2.1BOII FY2023: $2.4BOII FY2024: $2.7BOII FY2025: $2.8BFY18FY19FY20FY21FY22FY23FY24FY25
HAL $22.2BOII $2.8B
Net income
HAL FY2018: $1.7BHAL FY2019: -$1.1BHAL FY2020: -$2.9BHAL FY2021: $1.5BHAL FY2022: $1.6BHAL FY2023: $2.6BHAL FY2024: $2.5BHAL FY2025: $1.3BOII FY2018: -$212.3MOII FY2019: -$348.4MOII FY2020: -$496.8MOII FY2021: -$49.3MOII FY2022: $25.9MOII FY2023: $97.4MOII FY2024: $147.5MOII FY2025: $353.8MFY18FY19FY20FY21FY22FY23FY24FY25
HAL $1.3BOII $353.8M
Net margin
HAL FY2018: 6.9%HAL FY2019: -5.0%HAL FY2020: -20.4%HAL FY2021: 9.5%HAL FY2022: 7.7%HAL FY2023: 11.5%HAL FY2024: 10.9%HAL FY2025: 5.8%OII FY2018: -11.1%OII FY2019: -17.0%OII FY2020: -27.2%OII FY2021: -2.6%OII FY2022: 1.3%OII FY2023: 4.0%OII FY2024: 5.5%OII FY2025: 12.7%FY18FY19FY20FY21FY22FY23FY24FY25
HAL 5.8%OII 12.7%
Revenue growth
HAL FY2019: -6.6%HAL FY2020: -35.5%HAL FY2021: +5.9%HAL FY2022: +32.7%HAL FY2023: +13.4%HAL FY2024: -0.3%HAL FY2025: -3.3%OII FY2019: +7.3%OII FY2020: -10.8%OII FY2021: +2.3%OII FY2022: +10.5%OII FY2023: +17.4%OII FY2024: +9.8%OII FY2025: +4.6%FY19FY20FY21FY22FY23FY24FY25
HAL -3.3%OII +4.6%
Free cash flow
HAL FY2018: $1.1BHAL FY2019: $915MHAL FY2020: $1.2BHAL FY2021: $1.1BHAL FY2022: $1.2BHAL FY2023: $2.1BHAL FY2024: $2.4BHAL FY2025: $1.7BOII FY2018: -$72.9MOII FY2019: $9.9MOII FY2020: $76MOII FY2021: $175.1MOII FY2022: $39.8MOII FY2023: $109.2MOII FY2024: $96.1MOII FY2025: $207.8MFY18FY19FY20FY21FY22FY23FY24FY25
HAL $1.7BOII $207.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Halliburton and Oceaneering International

Which is bigger by revenue, Halliburton or Oceaneering International?

Halliburton is bigger by revenue: $22.2B in fiscal 2025, against $2.8B for Oceaneering International in fiscal 2025.

Which keeps more of its revenue as profit, Halliburton or Oceaneering International?

Halliburton had a net margin of 5.8% in fiscal 2025; Oceaneering International had 12.7% in fiscal 2025.

Which grew revenue faster, Halliburton or Oceaneering International?

In their latest fiscal years revenue changed by -3.3% at Halliburton and +4.6% at Oceaneering International.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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