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Halliburton cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$102M in Q3 2026 · $1.6B over twelve months

Operating cash flow$368M
Capital spending−$266M
Free cash flow+$102M
Cash / net income0.9×

Analysis

In Q3 2026, Halliburton generated $368M of operating cash flow and spent $266M on capital projects, leaving free cash flow of $102M. That is $125M less than in Q3 2025 ($227M).

Over the twelve months to Sep 30, 2026, operating cash flow was $2.6B; the largest uses were capital spending ($1.0B), buybacks ($808M), dividends ($569M); besides operations, cash came from asset & business sales ($222M); the cash balance fell by $183M.

Operating cash flow was $368M against net income of $419M — 0.9× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$296M, inventory −$224M, receivables −$181M.

Free cash flow

Halliburton: free cash flow by quarterHalliburton: free cash flow by quarter$1.0BQ4 2024$75.0MQ1 2025$542MQ2 2025$227MQ3 2025$828MQ4 2025$81.0MQ1 2026$589MQ2 2026$102MQ3 2026
Operating cash flow less capital spending.
Halliburton: operating cash flow against capital spendingHalliburton: operating cash flow against capital spendingOperating cash flowCapital spending$1.5B$426MQ4 2024$377M$302MQ1 2025$896M$354MQ2 2025$488M$261MQ3 2025$1.2B$337MQ4 2025$273M$192MQ1 2026$824M$235MQ2 2026$368M$266MQ3 2026
Latest (Q3 2026): Operating cash flow $368M, Capital spending $266M.

Capital allocation, year by year

Halliburton: where the cash came from (up) and went (down), by fiscal yearHalliburton: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $1.9BFY2021: Net borrowing −$700MFY2021: Shares issued $79.0MFY2021: Asset sales $257MFY2021: Capital spending −$799MFY2021: Dividends −$161M$2.2BFY2021FY2022: Operating cash flow $2.2BFY2022: Net borrowing −$1.2BFY2022: Shares issued $229MFY2022: Asset sales $200MFY2022: Capital spending −$1.0BFY2022: Buybacks −$250MFY2022: Dividends −$435M$2.7BFY2022FY2023: Operating cash flow $3.5BFY2023: Net borrowing −$305MFY2023: Shares issued $136MFY2023: Asset sales $195MFY2023: Capital spending −$1.4BFY2023: Acquisitions −$13.0MFY2023: Buybacks −$800MFY2023: Dividends −$576M$3.8BFY2023FY2024: Operating cash flow $3.9BFY2024: Net borrowing −$100MFY2024: Shares issued $105MFY2024: Asset sales $223MFY2024: Capital spending −$1.4BFY2024: Acquisitions −$27.0MFY2024: Buybacks −$1.0BFY2024: Dividends −$600M$4.2BFY2024FY2025: Operating cash flow $2.9BFY2025: Net borrowing −$389MFY2025: Shares issued $98.0MFY2025: Asset sales $185MFY2025: Capital spending −$1.3BFY2025: Acquisitions −$185MFY2025: Buybacks −$1.0BFY2025: Dividends −$579M$3.2BFY2025
Over these 5 years operating cash flow totalled $14.4B; the largest uses were capital spending ($5.9B) and buybacks ($3.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.8B
Debt$7.1B
Net debt$5.2B
Due within a year$90.0M

Halliburton funds itself: free cash flow was $1.6B over the last twelve months, and $1.8B of cash and investments stands against $7.1B of debt ($90.0M due within a year, 20.5× covered by cash).

Halliburton: debt maturities by year (FY2025)Halliburton: debt maturities by year (FY2025)$90.0MYear 2$1.0BYear 5
Principal due in each year as disclosed in the annual report, against $1.8B of cash and investments now.

Where the cash came from and went

Halliburton: sources (+) and uses (−) of cash, Q3 2026Halliburton: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$368MCapital spending−$266MBuybacks−$250MCash drawn (+) / kept (−)$205MDividends−$141MOther investing$68.0MAsset & business sales$54.0MOther financing−$26.0MExchange rates−$12.0M
Halliburton: sources (+) and uses (−) of cash, TTM to Q3 2026Halliburton: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$2.6BCapital spending−$1.0BBuybacks−$808MDividends−$569MOther financing−$430MAsset & business sales$222MCash drawn (+) / kept (−)$183MAcquisitions−$117MOther investing−$44.0MExchange rates−$37.0M

From profit to cash

Halliburton: net income to operating cash flow, Q3 2026Halliburton: net income to operating cash flow, Q3 2026Net income$419MDepreciation & amortization$296MGains on investments$36.0MOther non-cash−$124MReceivables−$181MInventory−$224MPayables$75.0MOperating cash flow$368M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$368M−$266M—−$250M−$141M—$205M$102M
Q2 2026$824M−$235M−$10.0M−$208M−$143M—−$45.0M$589M
Q1 2026$273M−$192M−$97.0M−$100M−$142M—$203M$81.0M
Q4 2025$1.2B−$337M−$10.0M−$250M−$143M—−$180M$828M
Q3 2025$488M−$261M−$13.0M−$250M−$144M—$12.0M$227M
Q2 2025$896M−$354M−$46.0M−$257M−$145M—−$234M$542M
Q1 2025$377M−$302M−$116M−$250M−$147M—$814M$75.0M
Q4 2024$1.5B−$426M—−$309M−$148M−$100M−$440M$1.0B

Halliburton: income statement and cash flow

Halliburton, Q3 2026: revenue $5.7B (+2% year over year), operating margin 10.9%. The chart follows the revenue to costs, profit and cash.

Halliburton: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.