Halliburton Company (HAL)

Debt-to-capital ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Long-term debt	US$ in thousands	7,541,000	—	—	—	7,636,000	—	—	—	7,928,000	—	—	—	9,127,000	—	—	—	9,132,000	1,500,000	1,500,000	1,500,000
Total stockholders’ equity	US$ in thousands	10,506,000	10,296,000	10,000,000	9,636,000	9,391,000	9,150,000	8,693,000	8,415,000	7,948,000	7,621,000	7,130,000	7,017,000	6,713,000	5,681,000	5,420,000	5,170,000	4,974,000	5,200,000	5,189,000	6,830,000
Debt-to-capital ratio		0.42	0.00	0.00	0.00	0.45	0.00	0.00	0.00	0.50	0.00	0.00	0.00	0.58	0.00	0.00	0.00	0.65	0.22	0.22	0.18

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $7,541,000K ÷ ($7,541,000K + $10,506,000K)
= 0.42

Halliburton Company's debt-to-capital ratio has shown fluctuations over the years, ranging from 0.00 to 0.65. The ratio was relatively low in the first half of 2020 but spiked to 0.65 by the end of December 2020, indicating a significant increase in debt relative to capital during that period.

Subsequently, the ratio dropped to 0.00 in the first half of 2021 and remained at this level until the end of 2021 before slightly increasing to 0.50 by December 2022. From 2023 onwards, the ratio fluctuated slightly between 0.42 and 0.00.

These fluctuations suggest that Halliburton has been managing its debt in relation to its capital structure, with periods of both high and low leverage. It is essential for investors and creditors to monitor these changes to assess the company's financial health and risk profile.