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SLB

SLB N.V.

SLB

SLB N.V. • NYSE
$36.24 ▲ 1.63% (+0.58)
Market Cap $54.14 B
52w High $44.66
52w Low $31.11
Dividend Yield 1.13%
P/E 14.1
Volume 4.01M
Outstanding Shares 1.49B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $8.928B ▲ $242M ▼ $739M ▼ 8.277% ▼ $0.5 ▼ $1.78B ▼
Q2-2025 $8.546B ▲ $267M ▼ $1.014B ▲ 11.865% ▲ $0.75 ▲ $2.06B ▲
Q1-2025 $8.49B ▼ $268M ▼ $797M ▼ 9.388% ▼ $0.58 ▼ $1.85B ▲
Q4-2024 $9.284B ▲ $272M ▼ $1.095B ▼ 11.794% ▼ $0.77 ▼ $1.532B ▼
Q3-2024 $9.159B $277M $1.186B 12.949% $0.84 $2.283B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.585B ▼ $55.093B ▲ $28.171B ▲ $25.635B ▲
Q2-2025 $3.747B ▼ $48.769B ▼ $27.218B ▼ $20.302B ▲
Q1-2025 $3.897B ▼ $49.002B ▲ $28.254B ▲ $19.515B ▼
Q4-2024 $4.669B ▲ $48.935B ▼ $26.585B ▼ $21.13B ▼
Q3-2024 $4.462B $49.775B $27.047B $21.511B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $774M ▼ $1.682B ▲ $44M ▼ $-1.932B ▼ $-222M ▼ $1.222B ▲
Q2-2025 $1.048B ▲ $1.142B ▲ $246M ▲ $-1.111B ▼ $300M ▲ $822M ▲
Q1-2025 $829M ▼ $660M ▼ $-432M ▲ $-878M ▲ $-608M ▼ $262M ▼
Q4-2024 $1.118B ▼ $2.39B ▼ $-477M ▲ $-1.431B ▼ $458M ▲ $1.724B ▼
Q3-2024 $1.186B $2.449B $-1.024B $-1.295B $133M $1.848B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Digital Integration
Digital Integration
 $1.16Bn ▲$1.01Bn ▼$990.00M ▼$660.00M ▼
Production Systems
Production Systems
 $3.20Bn ▲$2.94Bn ▼$3.04Bn ▲$3.47Bn ▲
Reservoir Characterization
Reservoir Characterization
 $1.81Bn ▲$1.70Bn ▼$1.69Bn ▼$1.68Bn ▼
Well Construction
Well Construction
 $3.27Bn ▲$2.98Bn ▼$2.96Bn ▼$2.97Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Over the last five years SLB’s income statement shows a clear turnaround from a deep loss in 2020 to solid, consistent profitability today. Revenue has climbed steadily from the post‑pandemic trough, and profits have grown faster than sales, which suggests better pricing, mix, and cost control. Operating margins have expanded meaningfully, and earnings per share have more than doubled versus the early‑cycle recovery years. The pace of profit growth has started to level off more recently, which is normal as the recovery matures, but the overall picture is one of a company that has moved from repair mode to healthy, durable earnings.

Balance Sheet

Balance Sheet SLB’s balance sheet has strengthened in a steady, disciplined way. Total assets have inched up over time, cash on hand has improved meaningfully from the 2020 low, and debt has been trimmed from earlier peak levels and then held roughly stable. Shareholders’ equity has grown every year, which reflects retained profits rebuilding the company’s capital base after the downturn. Leverage is still notable, as is common for a large capital‑intensive service company, but the trend is toward a more balanced, less stretched financial profile, giving SLB more flexibility to invest and manage through future cycles.

Cash Flow

Cash Flow Cash generation is a key strong point. Operating cash flow has been robust and relatively steady in recent years, comfortably covering capital spending. Even as SLB has modestly increased investment in its asset base, it continues to produce solid free cash flow, much stronger than in the early recovery years after 2020. This indicates that reported earnings are well backed by cash, and that the company has room to fund growth initiatives, service debt, and return capital to shareholders without straining its finances. The cash flow profile supports the view of SLB as a mature, cash‑generative business rather than a purely cyclical rebound story.

Competitive Edge

Competitive Edge SLB holds a leading competitive position in oilfield services, anchored in technology depth, global reach, and an integrated suite of offerings. Its long history of technical innovation and proprietary tools creates switching costs for customers, especially for complex international and offshore projects. The company operates in over a hundred countries, which helps balance regional cycles and keeps it close to major national and international oil companies. Integration across the value chain—from reservoir characterization to production solutions—allows SLB to capture larger, more complex contracts and deliver efficiency gains to clients. At the same time, it faces the usual industry pressures: exposure to commodity price swings, aggressive competitors in specific niches, and the need to keep proving its value as customers focus on capital discipline and emissions reduction.

Innovation and R&D

Innovation and R&D Innovation is one of SLB’s defining strengths. The company is investing heavily in advanced tools to make oil and gas operations more efficient and lower‑carbon, such as its Transition Technologies portfolio, autonomous well intervention systems, and high‑speed data and telemetry platforms. It is also leaning into digital, with cloud‑based environments and AI platforms designed to optimize drilling and production decisions. Beyond its core, SLB is building a New Energy portfolio in carbon capture, geothermal, and sustainable lithium extraction, often via partnerships and joint ventures. These initiatives could diversify revenue and align SLB with the energy transition, but they are still in earlier stages of commercialization, so the eventual scale and profitability remain uncertain. Execution in digital and low‑carbon technologies will be a key determinant of how differentiated SLB remains over the next decade.

Summary

Overall, SLB today looks like a financially healthier, more diversified version of its former self. The company has moved from a painful loss in 2020 to solid, margin‑rich profitability, backed by strong cash generation and a gradually de‑risked balance sheet. Its competitive edge rests on technology leadership, global scale, and integrated services, while its push into digital solutions and low‑carbon technologies is aimed at keeping it relevant as the energy system evolves. The main watchpoints are the inherent cyclicality of oil and gas spending, the challenge of integrating acquisitions and partnerships, and the uncertainty around how quickly new energy ventures will scale. Taken together, SLB appears to be managing the traditional upstream cycle from a position of strength while placing calculated bets on the future of energy.

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