Halliburton Valuation

Q: What is the Fair Price of HAL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

HAL (CHF22.4) is trading below our estimate of [[fair value]] (CHF46.38)

Is HAL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HAL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HAL (CHF22.4) is trading below our estimate of fair value (CHF46.38)

Significantly Below Fair Value: HAL is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HAL?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for HAL. This is calculated by dividing HAL's market cap by their current preferred multiple.
What is HAL's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	US$28.04b

HAL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.5x
Enterprise Value/EBITDA	6.7x
PEG Ratio	1.3x

Price to Earnings Ratio vs Peers

How does HAL's PE Ratio compare to its peers?

The above table shows the PE ratio for HAL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	15.8x
BKR Baker Hughes	17.6x	13.8%	US$34.4b
SLB Schlumberger	14.5x	17.7%	US$62.6b
TEN Tenaris	5.7x	-8.0%	€14.1b
FTI TechnipFMC	25.2x	20.5%	US$11.1b
HAL Halliburton	10.4x	7.9%	CHF 28.0b

Price-To-Earnings vs Peers: HAL is good value based on its Price-To-Earnings Ratio (10.4x) compared to the peer average (15.8x).

Price to Earnings Ratio vs Industry

How does HAL's PE Ratio compare vs other companies in the European Energy Services Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	17.2%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	17.2%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: HAL is expensive based on its Price-To-Earnings Ratio (10.4x) compared to the European Energy Services industry average (10.1x).

Price to Earnings Ratio vs Fair Ratio

What is HAL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HAL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	10.4x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate HAL's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HAL forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CHF 22.40	CHF 37.10 +65.6%	7.6%	CHF 42.39	CHF 33.06	n/a	28
Aug ’25	CHF 22.40	CHF 39.13 +74.7%	7.2%	CHF 44.31	CHF 34.56	n/a	28
Jul ’25	CHF 22.40	CHF 42.76 +90.9%	7.1%	CHF 48.51	CHF 35.03	n/a	28
Jun ’25	CHF 22.40	CHF 43.83 +95.7%	7.0%	CHF 49.39	CHF 35.67	n/a	29
May ’25	CHF 22.40	CHF 43.95 +96.2%	8.8%	CHF 49.64	CHF 29.42	n/a	30
Apr ’25	CHF 22.40	CHF 41.62 +85.8%	8.8%	CHF 47.78	CHF 28.31	n/a	30
Mar ’25	CHF 22.40	CHF 41.05 +83.3%	8.8%	CHF 47.23	CHF 27.99	n/a	30
Feb ’25	CHF 22.40	CHF 40.48 +80.7%	9.0%	CHF 46.32	CHF 27.45	n/a	30
Jan ’25	CHF 22.40	CHF 41.95 +87.3%	9.2%	CHF 48.57	CHF 29.49	n/a	30
Dec ’24	CHF 22.40	CHF 43.21 +92.9%	9.1%	CHF 49.75	CHF 30.21	n/a	30
Nov ’24	CHF 22.40	CHF 43.82 +95.6%	9.1%	CHF 50.49	CHF 30.66	n/a	30
Oct ’24	CHF 22.40	CHF 43.22 +92.9%	10.8%	CHF 51.26	CHF 31.12	n/a	28
Sep ’24	CHF 22.50	CHF 41.09 +82.6%	10.2%	CHF 47.43	CHF 29.86	n/a	28
Aug ’24	CHF 22.50	CHF 40.70 +80.9%	10.1%	CHF 47.26	CHF 29.76	CHF 22.40	28
Jul ’24	CHF 22.50	CHF 42.19 +87.5%	12.7%	CHF 52.02	CHF 30.49	CHF 22.40	28
Jun ’24	CHF 22.50	CHF 43.17 +91.9%	12.3%	CHF 52.49	CHF 30.77	CHF 22.40	27
May ’24	CHF 22.50	CHF 42.68 +89.7%	11.9%	CHF 51.69	CHF 30.30	CHF 22.40	27
Apr ’24	CHF 22.50	CHF 44.92 +99.6%	11.4%	CHF 53.34	CHF 31.27	CHF 22.40	26
Mar ’24	CHF 22.50	CHF 45.12 +100.5%	11.2%	CHF 53.41	CHF 31.31	CHF 22.40	26
Feb ’24	CHF 22.50	CHF 45.55 +102.5%	10.2%	CHF 53.67	CHF 36.09	CHF 22.40	26
Jan ’24	CHF 22.50	CHF 42.12 +87.2%	11.6%	CHF 50.55	CHF 32.76	CHF 22.40	26
Dec ’23	CHF 22.50	CHF 41.86 +86.1%	11.4%	CHF 50.60	CHF 32.80	CHF 22.40	25
Nov ’23	CHF 22.00	CHF 43.63 +98.3%	13.8%	CHF 54.07	CHF 33.04	CHF 22.40	26
Oct ’23	CHF 22.00	CHF 41.22 +87.4%	14.9%	CHF 51.23	CHF 30.93	CHF 22.40	25
Sep ’23	CHF 22.00	CHF 41.22 +87.4%	14.9%	CHF 51.23	CHF 30.93	CHF 22.50	25
Aug ’23	CHF 22.00	CHF 41.96 +90.7%	14.3%	CHF 51.53	CHF 31.11	CHF 22.50	26

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.