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Halliburton vs Slb: revenue, profit, margins and growth compared

Halliburton brought in $22.2B of revenue in fiscal 2025, Slb $35.7B in fiscal 2025. Revenue changed by -3.3% at Halliburton and -1.6% at Slb on the year before, so Slb grew faster. Halliburton kept 5.8% of its revenue as net profit, Slb 9.4%. Free cash flow was $1.7B at Halliburton and $4.8B at Slb.

Side by side, latest fiscal year

HALSLB
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$22.2B$35.7B
Revenue growth-3.3%-1.6%
Net income$1.3B$3.4B
Net margin5.8%9.4%
Free cash flow$1.7B$4.8B
Free cash flow margin7.5%13.4%
Earnings per share (diluted)n/a$2.35
Cash$2.2B$3B
Debt$7.2B$9.7B
Price to earningsn/a21.9
Market value$27.3B$76.5B
Dividend yieldn/an/a
Rank by revenue in sector#16 of 129 · Energy#10 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: $22.2BSLB FY2018: $32.8BSLB FY2019: $32.9BSLB FY2020: $23.6BSLB FY2021: $22.9BSLB FY2022: $28.1BSLB FY2023: $33.1BSLB FY2024: $36.3BSLB FY2025: $35.7BFY18FY19FY20FY21FY22FY23FY24FY25
HAL $22.2BSLB $35.7B
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: $1.3BSLB FY2018: $2.1BSLB FY2019: -$10.1BSLB FY2020: -$10.5BSLB FY2021: $1.9BSLB FY2022: $3.4BSLB FY2023: $4.2BSLB FY2024: $4.5BSLB FY2025: $3.4BFY18FY19FY20FY21FY22FY23FY24FY25
HAL $1.3BSLB $3.4B
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%SLB FY2018: 6.5%SLB FY2019: -30.8%SLB FY2020: -44.6%SLB FY2021: 8.2%SLB FY2022: 12.2%SLB FY2023: 12.7%SLB FY2024: 12.3%SLB FY2025: 9.4%FY18FY19FY20FY21FY22FY23FY24FY25
HAL 5.8%SLB 9.4%
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%SLB FY2019: +0.3%SLB FY2020: -28.3%SLB FY2021: -2.8%SLB FY2022: +22.5%SLB FY2023: +18.0%SLB FY2024: +9.5%SLB FY2025: -1.6%FY19FY20FY21FY22FY23FY24FY25
HAL -3.3%SLB -1.6%
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: $1.7BSLB FY2018: $3.6BSLB FY2019: $3.7BSLB FY2020: $1.8BSLB FY2021: $3.5BSLB FY2022: $2.1BSLB FY2023: $4.7BSLB FY2024: $4.7BSLB FY2025: $4.8BFY18FY19FY20FY21FY22FY23FY24FY25
HAL $1.7BSLB $4.8B

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

Questions about Halliburton and Slb

Which is bigger by revenue, Halliburton or Slb?

Slb is bigger by revenue: $35.7B in fiscal 2025, against $22.2B for Halliburton in fiscal 2025.

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

Halliburton had a net margin of 5.8% in fiscal 2025; Slb had 9.4% in fiscal 2025.

Which grew revenue faster, Halliburton or Slb?

In their latest fiscal years revenue changed by -3.3% at Halliburton and -1.6% at Slb.

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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