Halliburton (HAL) FY2011 results: revenue $24.8 billion, up 38.1% on the year
Halliburton Co. (HAL) reported revenue of $24.8 billion for fiscal 2011, the year ended 31 December 2011, up 38.1% on the year before. Net income was $2.8 billion, up 54.7%, and diluted earnings per share $3.08. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2012.
Revenue
$24.8 billion
+38.1% on the year
FY2007FY2011
Operating margin
19.1%
16.7% a year earlier
FY2007FY2011
Net income
$2.8 billion
+54.7% on the year
FY2007FY2011
Diluted EPS
$3.08
+53.2% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
24,829
17,973
14,675
+38.1%
Cost of revenue
19,811
14,745
12,479
+34.4%
Gross profit
5,018
3,228
2,196
+55.5%
Gross margin
20.2%
18.0%
15.0%
Research and development
401
366
325
+9.6%
Operating income
4,737
3,009
1,994
+57.4%
Operating margin
19.1%
16.7%
13.6%
Interest expense
n/a
n/a
-297
Pre-tax income
4,449
2,655
1,682
+67.6%
Income tax
1,439
853
518
+68.7%
Effective tax rate
32.3%
32.1%
30.8%
Net income
2,839
1,835
1,145
+54.7%
Net margin
11.4%
10.2%
7.8%
Diluted EPS
$3.08
$2.01
$1.27
+53.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
3,684
2,212
2,406
+66.5%
Capital expenditure
2,953
2,069
1,864
+42.7%
Free cash flow
731
143
542
+411.2%
Free cash flow margin
2.9%
0.8%
3.7%
Cash from investing
-3,190
-1,755
-3,085
Cash from financing
833
-1,114
1,670
Depreciation and amortisation
1,359
1,119
931
+21.4%
Buybacks
0.0
141
17.0
Dividends paid
330
327
324
+0.9%
Dividend per share
$0.36
$0.36
n/a
0.0%
Diluted shares, weighted
922m
911m
902m
+1.2%
Shares outstanding at period end
921m
910m
902m
+1.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
13,198
10,373
8,728
+27.2%
Non-controlling interest
18.0
14.0
29.0
+28.6%
Debt
4,820
3,824
4,574
+26.0%
Other liabilities
5,641
4,086
3,207
+38.1%
Total liabilities and equity
23,677
18,297
16,538
+29.4%
Fixed assets
8,492
6,842
5,759
+24.1%
Goodwill
1,776
1,315
1,100
+35.1%
Investments
150
653
1,312
-77.0%
Cash and equivalents
2,698
1,398
2,082
+93.0%
Receivables
5,084
3,924
2,964
+29.6%
Inventory
2,570
1,940
1,598
+32.5%
Other assets
2,907
2,225
1,723
+30.7%
Total assets
23,677
18,297
16,538
+29.4%
10-K for the year ended 31 December 2011, filed 16 February 2012: the filing.