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Halliburton vs Oceaneering International: HAL and OII compared
Halliburton is the larger company: $5.7B of revenue in its latest quarter (Q3 2026) against $785M for Oceaneering International (Q3 2026). Oceaneering International is growing faster (+6% against +2% a year earlier). Oceaneering International is more profitable, with an operating margin of 11.7% against 10.9%.
Where the money goes: HAL and OII
Halliburton (HAL) · Q3 2026
Halliburton, Q3 2026: revenue $5.7B (+2% year over year), operating margin 10.9%, net earnings $419M, operating cash flow $368M. The chart follows the revenue to costs, profit and cash.
Oceaneering International (OII) · Q3 2026
Oceaneering International, Q3 2026: revenue $785M (+6% year over year), operating margin 11.7%, net earnings $52.6M, operating cash flow $163M. The chart follows the revenue to costs, profit and cash.
| Halliburton (HAL) | Oceaneering International (OII) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $5.7B | $785M |
| Revenue growth, Y/Y | +2% | +6% |
| Gross margin | — | 21.0% |
| Operating margin | 10.9% | 11.7% |
| Net earnings | $419M | $52.6M |
| Net margin | 7.3% | 6.7% |
| Operating cash flow | $368M | $163M |
| Free cash flow | $102M | $142M |
| Market value | $26.6B | $3.5B |
| P/E | 13.3× | 10.4× |
| Analysts’ mean target | $43.64 | $41.00 |
Where the revenue comes from
Halliburton
- Services: $4.1B (72%)
- Product sales: $1.6B (28%)
Oceaneering International
- Subsea Robotics: $233M (30%)
- Offshore Projects Group: $173M (22%)
- Manufactured Products: $168M (21%)
- Aerospace and Defense Technologies: $135M (17%)
Questions
Which is bigger, Halliburton or Oceaneering International?
Halliburton is the larger company: $5.7B of revenue in its latest quarter (Q3 2026) against $785M for Oceaneering International (Q3 2026).
Is Halliburton or Oceaneering International growing faster?
Oceaneering International is growing faster (+6% against +2% a year earlier).
Which is more profitable, Halliburton or Oceaneering International?
Oceaneering International is more profitable, with an operating margin of 11.7% against 10.9%.
More: Halliburton earnings · how Halliburton makes money · Oceaneering International earnings · how Oceaneering International makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 23, 2026; 10-Q filed Oct 22, 2026). Fiscal quarters can end on different dates. Not investment advice.