Halliburton Co (HAL) is fairly valued and Kodiak Gas Services Inc (KGS) is overvalued.
Against our estimates of intrinsic value, HAL trades at the wider discount: a margin of safety of +1%, against -27% for KGS.
Values as of the 22 Sept 2026 close.
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
Discounting its cash flows at 8.2% (average of 3 methods) values the shares at $43.16; the price of $54.69 is 27% above that value, and 80% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
| Metric | HAL | KGS |
|---|---|---|
| Verdict | Fairly valued | Overvalued |
| Price | $32.85 | $54.69 |
| Intrinsic value | $33.10 | $43.16 |
| Margin of safety | +1% | -27% |
| Leak Score | 64/100 (10/12) | 0/100 (2/12) |
| Market cap | $27.4B | $5.5B |
| Revenue growth, 5 years | 9.0% | 19.7% |
| Operating margin | 13.1% | 32.6% |
| Net margin | 7.2% | 5.6% |
| Return on equity | 14.9% | 4.6% |
| Debt to equity | 0.74 | 1.31 |
| P/E | 17.2x | 65.3x |
| Forward P/E | 11.4x | 18.0x |
| P/B | 2.5x | 2.5x |
| Dividend yield | 2.1% | 3.6% |