Halliburton Company HAL
Revenue Intelligence Report • 70 quarters of SEC filing data • Updated 2026-03-15
Halliburton Company has a forecasted full-year revenue of $22B, a -2.5% year-over-year change, based on 70 quarters of SEC filing data. Key revenue drivers include SG&A (elasticity 1.43x). The ARDL model achieves strong accuracy at 4.4% MAPE.
Investment Thesis
The econometric model achieves strong accuracy (4.4% MAPE), suggesting Halliburton Company's revenue trajectory is well-characterized by its spending patterns. Sales & marketing spend shows a 1.43x elasticity, suggesting effective go-to-market execution.
Next FY Revenue
$21.6B
-2.5% YoY
SG&A Elasticity
1.43x
Model Accuracy
4.4% MAPE
Holdout validation: The model predicted $5.6B vs the actual $5.7B — an error of 1.6%.
Note:
Halliburton Company does not report R&D expenses separately. This analysis uses SG&A spending only.
Revenue Forecast
Quarterly Detail
| Quarter | Model Forecast | Actual | 95% Range | YoY Growth | Status |
|---|---|---|---|---|---|
| Q4 2025 | $5.6B | $5.7B | $4.9B – $6.4B | -0.7% | ✓ In range |
| Q2 2026 | $5.5B | $4.5B – $6.6B | +1.4% | ||
| Q3 2026 | $5.4B | $4.3B – $6.8B | -1.6% | ||
| Q4 2026 | $5.4B | $4.1B – $7.0B | -4.0% | ||
| Q1 2027 | $5.3B | $4.0B – $7.2B | -5.6% |
How Spending Drives Revenue
Reading this chart:
Each line shows the cumulative elasticity — how a 1% increase in spending translates to revenue growth over subsequent quarters. The effect builds over 4-5 quarters as investments compound.
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