HALLIBURTON COMPANY

HAL · Materials · $29.4B mkt cap · FY2025 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power100

Median gross margin 78.1% over 2y, very stable.

Returns on capital62

Median ROIC 13.7%, above the 9% hurdle in 70% of years.

Balance-sheet safety80

Net debt/EBITDA 1.5x, no material interest expense disclosed.

Capital discipline51

Owner earnings trend unclear, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

68% above value

Owner earnings (normalized): $1.6B
Est. intrinsic value / share: $20.92
Recent price: $35.15
Discount to value: 68% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

Embed this score on your site

One iframe, no script. The badge shows HAL’s live Moat Score, updates itself as new filings are scored, and links back here. How it works.

<iframe
  src="https://buylikebuffett.com/embed/HAL"
  width="340" height="150" style="border:0"
  title="HAL Moat Score — The Moat Index"
  loading="lazy"></iframe>

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell HAL. See the disclaimer.