Energy · Oil & Gas Equipment & Services · US stock · price as of 22 Oct 2026
Key indicators
Price
$49.55
52-week range
$34.00 – $60.46
Market cap
$74.6B
P/E (trailing)
23.8×
EV / EBITDA
11.7×
Free-cash-flow yield
6.4%
Dividend yield
2.4%
Revenue (last 12 months)
$36.4B
Revenue growth (3y a year)
8.3%
Operating margin
12.2%
Return on invested capital
9.9%
Net debt / EBITDA
1.4×
Fair value
Fair value (average of valid models)$56.26 middle half of models $49 – $59
Versus priceFair+14% to fair value
P/E multiple
$47.72
P/B multiple
$51.37
P/S multiple
$56.59
EV/EBITDA multiple
$49.70
EV/EBIT multiple
$42.99
EV/revenue multiple
$59.09
10-year DCF, EBITDA exit
$59.82
5-year DCF, EBITDA exit
$56.20
10-year DCF, revenue exit
$61.07
5-year DCF, revenue exit
$58.41
10-year DCF, growth exit
$49.06
5-year DCF, growth exit
$43.35
Dividend discount, stable
$51.80
Dividend discount, multi-stage
$98.31
Earnings power value
$58.38
Model uncertainty
High
X-Ray Score
53/ 100 · High confidence · ahead of 65% of sector peers
Valuation47
Growth76
Profitability49
Financial health36
Dividends63
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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.
StocksXray gives Slb Limited an X-Ray Score of 53 out of 100 (high confidence), ahead of 65% of the S&P 500 stocks in its sector. Its strongest lens is growth (76) and its weakest is financial health (36).
Our fair value (the average of the valid models) is $56.26 (range $49.38 to $58.75). At $49.55 the stock trades 12% below that value, so the label is "Fair" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Slb Limited (SLB)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$26.93
$48.79
$48.41
$36.56
$37.76
$49.55
Market cap
$38.4B
$70.1B
$69.9B
$52.5B
$54.3B
$74.6B
P/E
20.4×
20.4×
16.6×
11.8×
16.1×
23.8×
EV / revenue
2.2×
2.8×
2.4×
1.8×
1.8×
2.4×
EV / EBITDA
9.2×
11.1×
9.1×
7.3×
8.5×
11.9×
Price / free cash flow
10.9×
33.4×
14.9×
11.2×
11.3×
15.5×
Free-cash-flow yield
9.1%
3.0%
6.7%
8.9%
8.8%
6.4%
Price / book
2.6×
4.0×
3.5×
2.5×
2.1×
2.9×
Dividend yield
–
–
–
–
–
2.36%
Fundamentals checklist ● 5 Good · ● 6 Average · ● 4 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−6.2%Average
Free-cash-flow yield6.4%Average
Risk models
Altman Z score3.3×Average
Piotroski F-Score4 of 9Bad
Growth
EPS growth (3y)−0.6%Good
Free-cash-flow growth (3y)31.6%Good
Revenue growth (3y)8.3%Good
Growth consistency70%Good
Balance sheet
Current ratio1.4×Good
Net debt / EBITDA1.4×Average
Interest cover8.7×Bad
Valuation
Fair value vs price1.1×Average
EBIT / EV yield5.2%Bad
Profitability
Return on invested capital9.9%Average
Operating margin12.2%Bad
XStocksXray
Slb Limited (SLB)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
22,929
28,091
33,135
36,289
35,708
36,366
Gross profit
–
–
–
–
–
–
Operating income
3,365
5,011
6,523
6,184
4,849
4,430
Net income
1,881
3,441
4,203
4,461
3,374
3,101
Diluted EPS ($)
1.32
2.39
2.91
3.11
2.35
2.09
Free cash flow
3,510
2,102
4,698
4,671
4,795
4,806
Gross margin
–
–
–
–
–
–
Operating margin
14.7%
17.8%
19.7%
17.0%
13.6%
12.2%
Net margin
8.2%
12.2%
12.7%
12.3%
9.4%
8.5%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
41,511
43,135
47,957
48,935
54,868
55,532
Cash
–
–
–
–
–
–
Total debt
13,286
10,594
10,842
11,023
9,742
11,140
Equity
15,004
17,685
20,189
21,130
26,109
26,074
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
