Halliburton Company — Earnings Quality Grade F
HAL · Energy
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 81 days, change -0 days YoY
AR growth -3.4% vs revenue growth -3.3%
Revenue -3.3%, CFFO -24.3%. Cash follows revenue
Expense Quality
Inventory -2.1% vs COGS 0.3%. Normal
CapEx growth -13.0% vs revenue -3.3%. Normal
SG&A/Gross Profit = 6.9%, excellent (<30%)
Gross margin 15.7%, change -3.0pp. Stable
Cash Flow Quality
CFFO/NI = 2.28. Profits backed by cash
FCF $1.7B, FCF/NI = 1.30
Accruals ratio = -6.6%. Low accruals
Cash $2.2B covers only 27% of debt $8.1B
Balance Sheet Health
Goodwill+Intangibles $2.9B = 28% of equity. Manageable
Debt/EBITDA = 2.5x. Healthy
Other assets 15.0% vs revenue -3.3%. Normal
Write-offs up 4725% YoY
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 4% YoY. Normal
Manipulation Score
M-Score = -2.69 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10