Direct Answer
Halliburton reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Completion and Production is the largest, with $12.8 billion of revenue (58% of the total), followed by Drilling and Evaluation at $9.4 billion (42%).
How Does Halliburton Make Money?
No single line supplies a majority of revenue: the largest, Completion and Production, is 58%, which spreads Halliburton's exposure across several demand drivers. Between fiscal 2024 and 2025, Drilling and Evaluation grew fastest (-3.0%) and Completion and Production slowest (-3.5%), so the revenue mix tilts toward Drilling and Evaluation while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Completion and Production | $12.8 billion | $13.3 billion | 57.6% | -3.5% |
| Drilling and Evaluation | $9.4 billion | $9.7 billion | 42.4% | -3.0% |
Which Halliburton Segments Earn the Most?
| Segment | FY2025 segment operating income | Segment margin |
|---|---|---|
| Completion and Production | $2.1 billion | 16.6% |
| Drilling and Evaluation | $1.4 billion | 14.7% |
Segment operating income is the profit measure Halliburton reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Halliburton more safely than against another company.
What Does Halliburton Sell?
Halliburton also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Service | $15.7 billion | $16.3 billion | 70.9% | -3.8% |
| Product | $6.5 billion | $6.6 billion | 29.1% | -2.1% |
Where Does Halliburton's Revenue Come From?
Regions follow the definitions in the filing; most companies assign revenue by customer location.
| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| North America | $9.1 billion | $9.6 billion | 40.9% | -5.8% |
| Middle East Asia | $5.8 billion | $6.1 billion | 26.3% | -4.5% |
| Latin America | $3.9 billion | $4.2 billion | 17.7% | -6.6% |
| Europe Africa CIS | $3.4 billion | $3.0 billion | 15.1% | 11.6% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Halliburton's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Halliburton reported in the segment note and revenue disclosures of its Form 10-K filed February 6, 2026 (accession 0000045012-26-000015), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Halliburton's business segments?
In its fiscal 2025 Form 10-K, Halliburton reports revenue for Completion and Production and Drilling and Evaluation.
Which part of Halliburton brings in the most revenue?
Completion and Production, with $12.8 billion of revenue in fiscal 2025, or 58% of the total.
Where does Halliburton report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 6, 2026, alongside management's discussion of each segment's results.