HAL vs LB: Halliburton and LandBridge Company LLC compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Halliburton is the larger company, worth $27.8B, about 3.9 times LandBridge Company LLC.
- LandBridge Company LLC grew revenue faster over the last year (+40.6% vs +3.7%).
- LandBridge Company LLC keeps more of each dollar of revenue as operating profit (61.3% vs 11.4%).
- On earnings, Halliburton is the cheaper stock (18.4x vs 95.4x).
- LandBridge Company LLC's price assumes faster free cash flow growth: about 19% a year, against 3% for Halliburton (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HAL | LB |
|---|---|---|
| Market cap | $27.8B | $7.1B |
| Share price | $32.55 | $86.25 |
| Revenue (last fiscal year) | $22.2B | $199M |
| Free cash flow (last fiscal year) | $1.7B | $122M |
| Revenue growth, last year | +3.7% | +40.6% |
| Revenue growth per year, last 5 fiscal years | +9.7% | +65.3% |
| Operating margin | 11.4% | 61.3% |
| Net margin | 7.2% | 16.5% |
| Return on equity | 14.6% | 10.4% |
| P/E (trailing) | 18.4x | 95.4x |
| Price / free cash flow | 16.6x | 58.4x |
| EV / EBITDA | 10.4x | 34.1x |
| FCF growth the price implies | 2.6% | 19.1% |
| Dividend yield | 2.0% | 0.47% |
| Debt / equity | 1.34x | 1.53x |
| Fundamental grade | C | B |
| Superinvestors holding it | 7 | 0 |
| Insider purchases, last 12 months | 0 | 7 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Halliburton
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $15.3B | $1.1B | 11.8% |
| 2022 | $20.3B | $1.2B | 13.3% |
| 2023 | $23.0B | $2.1B | 17.7% |
| 2024 | $22.9B | $2.4B | 16.7% |
| 2025 | $22.2B | $1.7B | 10.2% |
LandBridge Company LLC
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2023 | $73M | $50M | 96.1% |
| 2024 | $110M | $67M | -15.0% |
| 2025 | $199M | $122M | 59.5% |
Where the revenue comes from
Halliburton · by segments, 2025
Completion And Production$12.8B58%
Drilling And Evaluation$9.4B42%
LandBridge Company LLC
No segment breakdown reported.
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HAL in InvestinglyQuestions
Which is bigger, Halliburton or LandBridge Company LLC?
Halliburton (HAL), at $27.8B against $7.1B.
Is HAL or LB cheaper?
By trailing P/E, Halliburton (18.4x) is cheaper than LandBridge Company LLC (95.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, HAL or LB?
LandBridge Company LLC: revenue grew +40.6% over the last year, against +3.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.