HALLIBURTON COMPANY vs SLB LIMITED/NV, two Oil & Gas stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The single number that separates these two service giants is scale reflected in the multiple: SLB at 20.7 times earnings against Halliburton's item-clouded no-usable-P/E, the world's largest oilfield-services firm priced richer than the number two. Their economics run close, SLB's 12.2% return on equity against Halliburton's 14.2%, Halliburton ahead, and SLB's 6.11% on assets against 6.13%, a dead heat. SLB nets 9.3% of revenue to Halliburton's 7%. Both carry moderate debt near 0.35-0.66 turns and pay near-2% dividends; SLB yields 6.58% in free cash, Halliburton 5.85%. The pair is the oilfield-services duopoly priced apart on scale perception; the two are far closer on returns than SLB's premium multiple implies.
Comparison updated 2026-07-11.
| Metric | HAL | SLB |
|---|---|---|
| Price | $34.18 | $46.95 |
| Market cap | $28.7B | $71.1B |
| Sector | Oil & Gas | Oil & Gas |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | +3.9% | +7.3% |
| P/E | — | 20.7 |
| P/B | 2.65 | 2.60 |
| P/S | 1.29 | 1.98 |
| EV/EBITDA | 9.2 | 29.0 |
| Revenue growth | -1.7% | -0.3% |
| Operating margin | 12.6% | — |
| Net margin | 7.0% | 9.3% |
| Return on equity | 14.2% | 12.2% |
| Return on assets | 6.1% | 6.1% |
| Return on invested capital | 11.4% | — |
| FCF yield | 5.8% | 6.6% |
| Dividend yield | 2.0% | 1.8% |
| Debt / equity | 0.66 | 0.35 |
| Current ratio | 2.08 | 1.34 |
| Altman Z (solvency) | 3.31 | 2.81 |
| Piotroski F (quality) | 6 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.