Slb Limited (SLB)

Energy · Oil & Gas Equipment & Services · US stock · S&P 500 component

$49.55 ▼ -1.55 (3.03%)

At close 22 Oct 2026 · USD · Volume 14,993,995

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Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueFair

$56 +13.5% to fair value

$28fair band $48–$68$84

Day's range

$48.70 – $51.16

52-week range

$34.00 – $60.46

About Slb Limited

SLB, formerly known as Schlumberger, provides technology and services to the global energy industry. Its work covers reservoir characterization, drilling, well completion and production services, plus digital and data products. Customers are oil and gas producers and national oil companies, who pay for services and equipment. Revenue therefore depends on exploration and production spending across many regions, which follows energy prices and investment cycles.

Revenue of $36.4 billion was recorded for the latest twelve months; sales grew 8.3% a year over the past three years. Slb Limited converts that into an operating margin of 12.2%. Return on invested capital comes to 10%. Net debt to EBITDA is 1.4 times. The company pays a dividend with a yield of 2.4%, and the X-Ray Score is 53 out of 100.

Price chart

Interactive chart Historical data & CSV

52-wk range $34.00 – $60.46Volume 14,993,995Daily, split-adjusted

Vitals

Market cap$74.6B

52-week range$34.00 – $60.46

Volume (last day)14,993,995

P/E (TTM)23.8

EBIT / EV yield5.2%

Free-cash-flow yield6.4%

Dividend yield2.4%

Revenue (TTM)$36.4B

Net income (TTM)$3.1B

Operating margin12.2%

Return on capital9.9%

Debt incl. leases$11.1B

Cash & securities$1.3B

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$56middle half of models $49 – $59

Fair +13.5% to fair value

Average of the 15 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $50

Undervalued < $48Fair $48 – $68Overvalued > $68

P/E multiple

$48

P/B multiple

$51

P/S multiple

$57

EV/EBITDA multiple

$50

EV/EBIT multiple

$43

EV/revenue multiple

$59

10-year DCF, EBITDA exit

$60

5-year DCF, EBITDA exit

$56

10-year DCF, revenue exit

$61

5-year DCF, revenue exit

$58

10-year DCF, growth exit

$49

5-year DCF, growth exit

$43

Dividend discount, stable

$52

Dividend discount, multi-stage

$98

Earnings power value

$58

Growth the price implies

8.6%/yr

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Weak business, fairly priced

The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better 42 The price is not above fair value $56 fair value Debt looks manageable 1.4× EBITDA Revenue has been growing 8.3% a year Profits are backed by cash There are no red flags none raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Energy peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Weak

47/100

Expensive against its sector on earnings and cash flow.

See the numbers →

EBIT / EV yield5.2%

Free-cash-flow yield6.4%

Fair value vs price1.1×

Growth Strong

76/100

Growing faster than most of its sector.

See the numbers →

Revenue growth (3y)8.3%

EPS growth (3y)-0.6%

Growth consistency70%

Profitability Weak

49/100

Earns lower returns on its capital than most peers.

See the numbers →

Return on invested capital9.9%

Operating margin12.2%

Financial health Weak

36/100

Balance sheet is more stretched than most peers.

See the numbers →

Piotroski F-Score4 / 9

Net debt / EBITDA1.4×

Interest cover8.7×

Dividends Fair

63/100

Dividend is typical for its sector.

See the numbers →

Dividend yield2.4%

Dividends vs free cash flow37%

Dividend growth23.6%

Quarterly results: last 6 quarters

-2.5%

Mar '25

-6.5%

Jun '25

-2.5%

Sep '25

+5.0%

Dec '25

+2.7%

Mar '26

+5.0%

Jun '26

Revenue against the same quarter a year earlier. Latest quarter revenue $9.0B, diluted EPS $0.52.

Compare with peers

HAL Halliburton Co53

Other Oil & Gas Equipment & Services companies by X-Ray Score.

SWOT analysis: Slb Limited

Strengthsinside the company

Free cash flow equals 6.4% of the market value, which funds dividends, buybacks or debt paydown.

Weaknessesinside the company

Operating margin of 12.2% is thin against 23.1% for sector peers.

Opportunitiesvaluation and setting

Dividends use only 37% of free cash flow, which leaves room to raise them.
Our Market Compass rates the backdrop for Energy as favourable.

Threatsvaluation and setting

Revenue growth slowed to -1.6% last year from 8.3% a year over three years.
Trades at 24.1x earnings, 39% above the 17.4x median of sector peers, so the price already assumes better results.
Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
Earnings in Oil & Gas Equipment & Services follow the industry cycle, so margins and profits can swing from year to year.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare SLB with peers and sector

Medians of 19 Energy peers and of 19 Energy stocks in our universe. Largest peers (X-Ray Score): XOM 42, CVX 50, COP 58, MPC 50, VLO 41, PSX 52.

Metric	SLB	Peers	Sector
X-Ray Score (out of 100)	53	50	50
Valuation	47	60	60
Growth	76	52	52
Profitability	49	50	50
Financial health	36	55	55
Dividends	63	49	49

Sector leaders: highest X-Ray Score in Energy

SLB ranks #7 of 20 in Energy by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 EXE EXPAND ENERGY Corp	67
#2 EOG Eog Resources Inc	66
#3 EQT EQT Corp	63
#4 APA APA Corp	62
#5 COP Conocophillips	58
…
#7 SLB Slb Limited (this stock)	53

Metric	SLB	Peers	Sector
P/E ratio	24.1x	17.4x	17.4x
PEG ratio	–	2.22	2.22
Price / book	2.9x	2.6x	2.6x
Price / sales	2.1x	2.5x	2.5x
EV / EBITDA	11.9x	9.1x	9.1x
Price / free cash flow	15.5x	16.1x	16.1x
Dividend yield	2.4%	2.3%	2.3%
Gap to our fair value	+13.5%	+12.7%	+12.7%

Metric	SLB	Peers	Sector
Price change, 1 month	−4.9%	+7.8%	+7.8%
Price change, 3 months	+4.5%	+9.2%	+9.2%
Price change, 6 months	−7.9%	+11.7%	+11.7%
Price change, 1 year	+45.4%	+52.8%	+52.8%

Metric	SLB	Peers	Sector
Market value	$74.6B	$63.3B	$63.3B
Revenue (last 12 months)	$36.4B	$22.2B	$22.2B
EBITDA (last 12 months)	$7.2B	$7.7B	$7.7B
Net income (last 12 months)	$3.1B	$3.5B	$3.5B
Free cash flow (last 12 months)	$4.8B	$3.5B	$3.5B

Metric	SLB	Peers	Sector
Revenue growth, last year	−1.6%	+5.8%	+5.8%
Revenue growth, 3 years a year	+8.3%	−6.2%	−6.2%
EPS growth, 3 years a year	−0.6%	−22.8%	−22.8%
Free cash flow growth, 3 years a year	+31.6%	−18.6%	−18.6%
Dividend growth	+23.6%	+2.3%	+2.3%

Metric	SLB	Peers	Sector
Gross margin	–	35.2%	35.2%
EBITDA margin	19.8%	41.7%	41.7%
Operating margin	12.2%	23.1%	23.1%
Net margin	8.5%	14.1%	14.1%
Return on invested capital	9.9%	12.3%	12.3%
Return on equity	11.9%	15.9%	15.9%

Metric	SLB	Peers	Sector
Net debt / EBITDA	1.4x	0.8x	0.8x
Interest cover	8.7x	27.7x	27.7x
Current ratio	1.4x	1.1x	1.1x
Piotroski F-score (0 to 9)	4	6	6

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for SLB

Each factor is rated by where SLB stands among the 20 Energy stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 5 Good · 9 Average · 7 Bad of 21 Growth: 2 · 1 · 0 Profitability: 0 · 1 · 3 Financial strength: 1 · 1 · 2 Valuation: 0 · 4 · 1 Cash flow: 2 · 2 · 0 Efficiency: 0 · 0 · 1

Factor	SLB	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	+8.3%	Good beats 87%	−5.7%	–	–
Revenue growth, last year	−1.6%	Average beats 45%	+3.9%	+9.5%	▼ Worse
EPS growth, 3 years a year	−0.6%	Good beats 76%	−22.6%	–	–
Profitability
Operating margin	12.2%	Bad beats 25%	23.0%	17.0%	▼ Worse
Net margin	8.5%	Bad beats 29%	13.5%	12.2%	▼ Worse
Return on invested capital	9.9%	Average beats 34%	12.3%	–	–
Return on equity	11.9%	Bad beats 28%	15.2%	19.5%	▼ Worse
Financial strength
Net debt / EBITDA	1.4x	Average beats 47%	1.1x	1.1x	≈ In line
Interest cover	8.7x	Bad beats 13%	22.5x	10.2x	▼ Worse
Current ratio	1.44	Good beats 73%	1.19	1.32	≈ In line
Piotroski F-score	4 / 9	Bad beats 18%	6 / 9	–	–
Valuation
P/E ratio	24.1x	Bad beats 23%	17.4x	17.9x	▼ Worse
Price / book	2.9x	Average beats 38%	2.6x	2.8x	≈ In line
Price / sales	2.1x	Average beats 61%	2.3x	1.9x	≈ In line
EV / EBITDA	11.9x	Average beats 34%	9.4x	9.6x	▼ Worse
Free cash flow yield	6.4%	Average beats 58%	6.2%	8.2%	▼ Worse
Cash flow
Free cash flow margin	13.2%	Average beats 50%	13.2%	13.4%	≈ In line
Cash from operations / net income	2.11	Good beats 68%	1.95	1.58	▲ Better
Free cash flow growth, 3 years a year	+31.6%	Good beats 96%	−17.7%	–	–
Accruals (lower is better)	−6.2%	Average beats 48%	−6.6%	–	–
Efficiency
Days sales outstanding	92 days	Bad beats 3%	43 days	86 days	≈ In line

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 5 Good · ● 6 Average · ● 4 Bad

Cash quality

Earnings backed by cashAverage

Free-cash-flow yieldAverage

Risk models

Altman Z''Average

Piotroski F-ScoreBad

Growth

EPS growth (3y)Good

Free-cash-flow growth (3y)Good

Revenue growth (3y)Good

Growth consistencyGood

Balance sheet

Current ratioGood

Net debt / EBITDAAverage

Interest coverBad

Valuation

Fair value vs priceAverage

EBIT / EV yieldBad

Profitability

Return on invested capitalAverage

Operating marginBad

Each check is graded against the company's sector, not a fixed number. Checklist score 50/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$22.9B	$28.1B	$33.1B	$36.3B	$35.7B
Operating income	$3.4B	$5.0B	$6.5B	$6.2B	$4.8B
Net income	$1.9B	$3.4B	$4.2B	$4.5B	$3.4B
Operating cash flow	$4.7B	$3.7B	$6.6B	$6.6B	$6.5B
Operating margin	14.7%	17.8%	19.7%	17.0%	13.6%
Free cash flow	$3.5B	$2.1B	$4.7B	$4.7B	$4.8B
Diluted EPS	$1.32	$2.39	$2.91	$3.11	$2.35

Fiscal years, from SEC filings.

Technical summary

Daily

Bearish

3 bullish · 4 neutral · 9 bearish

Weekly

Bullish

7 bullish · 1 neutral · 4 bearish

Monthly

Strongly bullish

6 bullish · 1 neutral · 1 bearish

Moving averages (daily)

SMA 10	49.26	Bullish
EMA 10	49.59	Bearish
SMA 20	49.44	Bullish
EMA 20	49.96	Bearish
SMA 50	52.37	Bearish
EMA 50	50.97	Bearish
SMA 100	51.09	Bearish
EMA 100	50.99	Bearish
SMA 200	50.82	Bearish
EMA 200	49.15	Bullish

Oscillators (daily)

RSI (14)	46.10	Neutral
MACD (12, 26)	-0.66	Bearish
Momentum (12)	-0.90	Bearish
Stochastic %K (14)	58.48	Neutral
Williams %R (14)	-41.52	Neutral
CCI (20)	32.35	Neutral

Pivot points (classic, last session)

45.99

47.35

48.45

Pivot

49.80

50.90

52.26

53.36

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

Dividends

Paid, last 12 months

1.17 USD

Yield on today's price

2.36%

Frequency

Quarterly

Next ex-dividend date

Not announced

Ex-dividend date	Amount per share
2 Sep 2026	0.2950
3 Jun 2026	0.2950
11 Feb 2026	0.2950
3 Dec 2025	0.2850
3 Sep 2025	0.2850
4 Jun 2025	0.2850
5 Feb 2025	0.2850
4 Dec 2024	0.2750
4 Sep 2024	0.2750
5 Jun 2024	0.2750
6 Feb 2024	0.2750
5 Dec 2023	0.2500

Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.

ETFs that hold SLB

ETF	Share of the fund
IEZ iShares U.S. Oil Equipment & Services	21.06%
OIH VanEck Oil Services	19.00%
XLE Energy Select Sector SPDR	4.09%
VDE Vanguard Energy	3.47%
XES SPDR S&P Oil & Gas Equipment & Service...	3.34%
IYE iShares U.S. Energy	3.25%
ERX Direxion Daily Energy Bull 2X	3.06%
FENY Fidelity MSCI Energy Index	2.90%

The eight funds with the largest weight in SLB among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.