TechnipFMC plc (FTI) is overvalued and Halliburton Co (HAL) is fairly valued.
Against our estimates of intrinsic value, HAL trades at the wider discount: a margin of safety of +1%, against -24% for FTI.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.3% (average of 3 methods) values the shares at $57.15; the price of $70.82 is 24% above that value, and 75% of that value comes from beyond year five.
Leak Score 76/100 on 10 of 12 signals
Discounting its cash flows at 8.6% (average of 3 methods) values the shares at $33.10; the price of $32.85 is 1% below that value, and 77% of that value comes from beyond year five.
Leak Score 64/100 on 10 of 12 signals
| Metric | FTI | HAL |
|---|---|---|
| Verdict | Overvalued | Fairly valued |
| Price | $70.82 | $32.85 |
| Intrinsic value | $57.15 | $33.10 |
| Margin of safety | -24% | +1% |
| Leak Score | 76/100 (10/12) | 64/100 (10/12) |
| Market cap | $27.8B | $27.4B |
| Revenue growth, 5 years | 8.5% | 9.0% |
| Operating margin | 14.7% | 13.1% |
| Net margin | 11.4% | 7.2% |
| Return on equity | 36.0% | 14.9% |
| Debt to equity | 0.38 | 0.74 |
| P/E | 24.7x | 17.2x |
| Forward P/E | 19.6x | 11.4x |
| P/B | 8.5x | 2.5x |
| Dividend yield | 0.3% | 2.1% |