Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.9%, Dividend Yield is 2.3%, FCF Yield is 6.1%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 6.3 Bil, FCF LTM is 4.4 Bil

Stock buyback support
Stock Buyback 3Y Total is 5.1 Bil

Low stock price volatility
Vol 12M is 35%

Megatrend and thematic drivers
Megatrends include Energy Transition & Decarbonization, and US Energy Independence. Themes include Carbon Capture & Storage, Geothermal Energy, Show more.

Weak multi-year price returns
2Y Excs Rtn is -22%, 3Y Excs Rtn is -63%

Key risks
SLB key risks include [1] substantial exposure to geopolitical instability and regulatory changes due to deriving approximately 85% of its revenue from non-U.S. Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.9%, Dividend Yield is 2.3%, FCF Yield is 6.1%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 6.3 Bil, FCF LTM is 4.4 Bil
2 Stock buyback support
Stock Buyback 3Y Total is 5.1 Bil
3 Low stock price volatility
Vol 12M is 35%
4 Megatrend and thematic drivers
Megatrends include Energy Transition & Decarbonization, and US Energy Independence. Themes include Carbon Capture & Storage, Geothermal Energy, Show more.
5 Weak multi-year price returns
2Y Excs Rtn is -22%, 3Y Excs Rtn is -63%
6 Key risks
SLB key risks include [1] substantial exposure to geopolitical instability and regulatory changes due to deriving approximately 85% of its revenue from non-U.S. Show more.

SLB in ETFs

Weight = SLB's share of each fund

SPY0.12%
VOO0.13%
VTI0.11%
RSP0.19%
VTV0.31%
SCHD1.9%
VYM0.34%
VO0.81%
+16 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 6/17/2026

SLB (SLB) stock has lost about 5% since 2/28/2026 because of the following key factors:

1. Mixed Fiscal Q1 2026 Financial Performance Amidst Geopolitical Headwinds.

SLB reported adjusted earnings per share (EPS) of $0.52 for fiscal Q1 2026, largely meeting analyst expectations (with some reports indicating a slight beat of the $0.51 consensus by 1.96%, while others noted a marginal miss of $0.5211). Revenue reached $8.72 billion, surpassing the Zacks Consensus Estimate of $8.63 billion. However, the EPS marked a 28% decrease from $0.72 in the year-ago quarter, and net income attributable to SLB declined by 6% year-on-year. This mixed financial outcome was significantly impacted by geopolitical disruptions in the Middle East, leading to operational demobilization in certain countries and increased logistics and materials costs, particularly affecting the Well Construction and Reservoir Performance segments. Despite these challenges, the stock experienced a modest rise of 0.88% to 3.05% in the session following the earnings release, indicating investor focus on underlying operational stability.

2. Positive Contributions from Strategic Acquisitions and Digital Growth.

Company-specific growth initiatives provided a notable counterbalance to regional headwinds. The ChampionX acquisition, completed in fiscal Q3 2025, significantly contributed $838 million to SLB's fiscal Q1 2026 revenue and was accretive to overall margins. Concurrently, the Digital segment continued its robust performance, with revenues increasing 9% year-over-year to $640 million, driven by an impressive 87% growth in Digital Operations. These strategic moves and strong performance in key segments helped stabilize the stock's valuation during a volatile period.

Show more
Updated on 6/17/2026

SLB (SLB) stock has lost about 5% since 2/28/2026 because of the following key factors:

1. Mixed Fiscal Q1 2026 Financial Performance Amidst Geopolitical Headwinds.

SLB reported adjusted earnings per share (EPS) of $0.52 for fiscal Q1 2026, largely meeting analyst expectations (with some reports indicating a slight beat of the $0.51 consensus by 1.96%, while others noted a marginal miss of $0.5211). Revenue reached $8.72 billion, surpassing the Zacks Consensus Estimate of $8.63 billion. However, the EPS marked a 28% decrease from $0.72 in the year-ago quarter, and net income attributable to SLB declined by 6% year-on-year. This mixed financial outcome was significantly impacted by geopolitical disruptions in the Middle East, leading to operational demobilization in certain countries and increased logistics and materials costs, particularly affecting the Well Construction and Reservoir Performance segments. Despite these challenges, the stock experienced a modest rise of 0.88% to 3.05% in the session following the earnings release, indicating investor focus on underlying operational stability.

2. Positive Contributions from Strategic Acquisitions and Digital Growth.

Company-specific growth initiatives provided a notable counterbalance to regional headwinds. The ChampionX acquisition, completed in fiscal Q3 2025, significantly contributed $838 million to SLB's fiscal Q1 2026 revenue and was accretive to overall margins. Concurrently, the Digital segment continued its robust performance, with revenues increasing 9% year-over-year to $640 million, driven by an impressive 87% growth in Digital Operations. These strategic moves and strong performance in key segments helped stabilize the stock's valuation during a volatile period.

3. Elevated Oil Prices Counterbalanced by Regional Supply Disruptions.

Macroeconomic factors, particularly in the energy markets, played a dual role in SLB's stock movement. Crude oil prices saw significant increases during fiscal Q1 2026, with Brent crude rising sharply from $61 per barrel at the start of the year to $118 per barrel by the end of the quarter, primarily driven by military actions in the Middle East and the effective closure of the Strait of Hormuz. While higher oil prices generally stimulate investment in oilfield services, the very geopolitical conflicts responsible for these price surges also directly led to operational disruptions and increased costs for SLB in the affected Middle Eastern regions, thus tempering the positive impact that elevated crude prices might otherwise have had on the stock.

4. Supportive Analyst Sentiment and Shareholder Return Initiatives.

Analyst ratings for SLB remained predominantly positive throughout the period, with a consensus "Buy" rating and average price targets ranging from $59.82 to $62.36. Latest price targets issued by analysts in June 2026 suggested a potential upside, ranging from $61.00 to $71.00. Furthermore, SLB demonstrated a commitment to shareholder returns by approving a quarterly cash dividend of $0.295 per share and executing share repurchases of $451 million (9.2 million shares) during fiscal Q1 2026. These factors contributed to investor confidence and provided a stabilizing influence on the stock price, supporting its moderate upward trend.

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Stock Movement Drivers

Fundamental Drivers

The -5.8% change in SLB stock from 2/28/2026 to 6/21/2026 was primarily driven by a -4.4% change in the company's P/E Multiple.
(LTM values as of)22820266212026Change
Stock Price ($)51.0748.09-5.8%
Change Contribution By: 
Total Revenues ($ Mil)35,70935,9400.6%
Net Income Margin (%)9.4%9.3%-2.0%
P/E Multiple22.621.7-4.4%
Shares Outstanding (Mil)1,4961,499-0.2%
Cumulative Contribution-5.8%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/21/2026
ReturnCorrelation
SLB-5.8% 
Market (SPY)9.2%32.0%
Sector (XLE)-3.2%35.9%

Fundamental Drivers

The 35.2% change in SLB stock from 11/30/2025 to 6/21/2026 was primarily driven by a 50.9% change in the company's P/E Multiple.
(LTM values as of)113020256212026Change
Stock Price ($)35.5648.0935.2%
Change Contribution By: 
Total Revenues ($ Mil)35,24835,9402.0%
Net Income Margin (%)10.3%9.3%-10.4%
P/E Multiple14.421.750.9%
Shares Outstanding (Mil)1,4711,499-1.9%
Cumulative Contribution35.2%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/21/2026
ReturnCorrelation
SLB35.2% 
Market (SPY)9.9%29.9%
Sector (XLE)20.7%52.4%

Fundamental Drivers

The 50.7% change in SLB stock from 5/31/2025 to 6/21/2026 was primarily driven by a 108.2% change in the company's P/E Multiple.
(LTM values as of)53120256212026Change
Stock Price ($)31.9048.0950.7%
Change Contribution By: 
Total Revenues ($ Mil)36,07235,940-0.4%
Net Income Margin (%)11.6%9.3%-20.3%
P/E Multiple10.421.7108.2%
Shares Outstanding (Mil)1,3661,499-8.9%
Cumulative Contribution50.7%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/21/2026
ReturnCorrelation
SLB50.7% 
Market (SPY)28.1%27.8%
Sector (XLE)36.1%61.0%

Fundamental Drivers

The 21.8% change in SLB stock from 5/31/2023 to 6/21/2026 was primarily driven by a 48.6% change in the company's P/E Multiple.
(LTM values as of)53120236212026Change
Stock Price ($)39.4848.0921.8%
Change Contribution By: 
Total Revenues ($ Mil)29,86435,94020.3%
Net Income Margin (%)12.9%9.3%-28.4%
P/E Multiple14.621.748.6%
Shares Outstanding (Mil)1,4261,499-4.9%
Cumulative Contribution21.8%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/21/2026
ReturnCorrelation
SLB21.8% 
Market (SPY)85.7%44.3%
Sector (XLE)54.8%73.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
SLB Return40%81%-1%-24%3%33%161%
Peers Return1%66%19%4%22%26%218%
S&P 500 Return27%-19%24%23%16%8%98%

Monthly Win Rates [3]
SLB Win Rate58%67%50%33%67%67% 
Peers Win Rate46%65%50%48%69%57% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
SLB Max Drawdown-28%-37%-26%-32%-26%-14% 
Peers Max Drawdown-36%-41%-29%-26%-31%-14% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: BKR, HAL, FTI, NOV, EROK. See SLB Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)

How Low Can It Go

EventSLBS&P 500
2025 US Tariff Shock
  % Loss-24.3%-18.8%
  % Gain to Breakeven32.0%23.1%
  Time to Breakeven272 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-15.5%-9.5%
  % Gain to Breakeven18.4%10.5%
  Time to Breakeven867 days24 days
2023 SVB Regional Banking Crisis
  % Loss-25.3%-6.7%
  % Gain to Breakeven33.8%7.1%
  Time to Breakeven43 days31 days
2020 COVID-19 Crash
  % Loss-64.9%-33.7%
  % Gain to Breakeven184.6%50.9%
  Time to Breakeven425 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-43.2%-19.2%
  % Gain to Breakeven76.0%23.8%
  Time to Breakeven1414 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-14.6%-3.7%
  % Gain to Breakeven17.1%3.9%
  Time to Breakeven200 days6 days

Compare to BKR, HAL, FTI, NOV, EROK

In The Past

SLB's stock fell -24.3% during the 2025 US Tariff Shock. Such a loss loss requires a 32.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventSLBS&P 500
2025 US Tariff Shock
  % Loss-24.3%-18.8%
  % Gain to Breakeven32.0%23.1%
  Time to Breakeven272 days79 days
2023 SVB Regional Banking Crisis
  % Loss-25.3%-6.7%
  % Gain to Breakeven33.8%7.1%
  Time to Breakeven43 days31 days
2020 COVID-19 Crash
  % Loss-64.9%-33.7%
  % Gain to Breakeven184.6%50.9%
  Time to Breakeven425 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-43.2%-19.2%
  % Gain to Breakeven76.0%23.8%
  Time to Breakeven1414 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-25.9%-12.2%
  % Gain to Breakeven35.0%13.9%
  Time to Breakeven184 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-38.3%-17.9%
  % Gain to Breakeven62.0%21.8%
  Time to Breakeven742 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-28.6%-15.4%
  % Gain to Breakeven40.0%18.2%
  Time to Breakeven155 days125 days
2008-2009 Global Financial Crisis
  % Loss-63.7%-53.4%
  % Gain to Breakeven175.6%114.4%
  Time to Breakeven725 days1085 days

Compare to BKR, HAL, FTI, NOV, EROK

In The Past

SLB's stock fell -24.3% during the 2025 US Tariff Shock. Such a loss loss requires a 32.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About SLB (SLB)

SLB (Schlumberger Limited) is a leading global technology provider for the energy industry, primarily serving oil and gas exploration and production companies, drilling contractors, and other energy sector participants worldwide. The company offers a comprehensive range of products and services that support the entire lifecycle of an oil or gas well, from initial exploration and drilling to completion and optimized long-term production.

SLB's extensive offerings are categorized across its Digital & Integration, Reservoir Performance, Well Construction, and Production Systems divisions. This includes advanced software, data management, and consulting for reservoir characterization and field development planning. For well construction, SLB provides drilling equipment (such as rigs, tools, and drill bits), cementing services, and specialized drilling fluid systems. Post-drilling, the company offers well completion equipment, artificial lift systems for enhanced production, and integrated subsea production systems, including wellheads and control mechanisms, to maximize recovery and efficiency.

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Here are 1-2 brief analogies for SLB:

  • The General Electric for the oil and gas industry.
  • The Siemens or Honeywell of the energy sector.

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SLB (Schlumberger Limited) provides a comprehensive range of products and services for the energy industry worldwide:

  • Digital Solutions: Offers software, information management, and IT infrastructure services for optimizing energy operations and data analysis.
  • Consulting Services: Provides expert advice for reservoir characterization, field development planning, and production enhancement.
  • Well Logging & Testing: Delivers open and cased-hole services for reservoir evaluation, including pressure and flow-rate measurement.
  • Well Stimulation & Intervention: Supplies services and equipment for pressure pumping, well stimulation, and coiled tubing operations to improve well productivity.
  • Drilling Services & Equipment: Provides drilling rigs, tools, engineered drilling fluid systems, drill bits, well cementing, and comprehensive drilling management services.
  • Well Completion Services: Offers services and equipment necessary to prepare a well for production after drilling.
  • Artificial Lift Systems: Designs and supplies equipment and optimization services to enhance oil and gas recovery from wells.
  • Subsea & Platform Production Systems: Manufactures and services integrated systems for subsea and onshore/offshore platform production, including wellheads, trees, and processing solutions.

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SLB (Schlumberger Limited) sells its technology and services primarily to other companies in the energy industry, specifically those involved in oil and gas exploration, development, and production. Due to the diverse and global nature of its operations, SLB typically serves a vast number of clients and does not publicly disclose individual major customers that account for a significant portion of its revenue. Instead, its customer base can be broadly categorized into the following types of companies:

  • International Oil Companies (IOCs) / Supermajors: These are large, multinational, publicly traded companies involved in all aspects of the oil and gas industry, from exploration to refining and marketing.
    • Examples: ExxonMobil (XOM), Chevron (CVX), Shell plc (SHEL), BP p.l.c. (BP), TotalEnergies SE (TTE)
  • National Oil Companies (NOCs): These are state-owned or state-controlled entities responsible for managing a nation's oil and gas resources. While many are not publicly traded, some operate as public companies or have publicly traded subsidiaries.
    • Examples: Petrobras (PBR), Equinor ASA (EQNR) (though state-controlled)
  • Independent Oil and Gas Companies: These are typically smaller to mid-sized companies focused primarily on exploration and production, often in specific geographic regions. They can be publicly traded or privately held.

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Olivier Le Peuch, Chief Executive Officer
Olivier Le Peuch has been the chief executive officer of SLB since August 2019. He joined Schlumberger in 1987 as an electrical engineer. Throughout his tenure, he has held various global management positions, including chief operating officer, executive vice president of Reservoir & Infrastructure, president of the Cameron Group, president of Schlumberger Completions, vice president of Engineering, Manufacturing, and Sustaining, and president of Schlumberger Information Solutions.

Stephane Biguet, Executive Vice President and Chief Financial Officer
Stephane Biguet was appointed Executive Vice President and Chief Financial Officer, effective January 22, 2020. He began his career with Schlumberger in 1995 and has held various senior roles in finance and operations across Europe, North America, and Latin America. His previous positions include vice president of finance, vice president Treasurer, controller, and vice president Global Shared Services.

Demosthenis Pafitis, Chief Technology Officer
Demosthenis Pafitis assumed the role of Chief Technology Officer in February 2020. He started his career with SLB in 1991, working initially in research and engineering in the UK and US. His background includes various research management positions, serving as vice president of engineering for oilfield services, and GeoMarket manager for Brunei, Malaysia, and the Philippines. In his current role, he is responsible for SLB’s new technology development, digital technology development, and manufacturing groups.

Dianne Ralston, Chief Legal Officer
Dianne Ralston has served as the Chief Legal Officer of SLB since December 2020. Before joining SLB, she was the executive vice president, chief legal officer, and secretary of TechnipFMC, and held similar roles at FMC Technologies from 2015 to 2017.

Abdellah Merad, Executive Vice President, Core Services and Equipment
Abdellah Merad has been the Executive Vice President, Core Services and Equipment, since April 2022. His previous roles at SLB include executive vice president Performance Management, president of NAL Production, president of the Production Group, vice president controller of Operations, vice president of the Shared Services Organization, and GeoMarket manager for North Africa.

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The key risks to SLB's business are:

1. Geopolitical and Market Volatility

SLB's substantial reliance on international operations, particularly in the Middle East, makes it highly susceptible to geopolitical instability, regional disruptions, and fluctuations in global oil and gas prices. For instance, non-U.S. operations accounted for approximately 82% of its consolidated revenue in 2025, 85% in 2024, and 84% in 2023. Recent geopolitical events, such as disruptions in the Red Sea and Strait of Hormuz, have led to increased logistics costs and insurance premiums and have already impacted SLB's operations, resulting in a negative pre-announcement for the first quarter of 2026 due to operational disruptions and project recalibrations in the Middle East. Global economic uncertainty and oversupplied oil markets also translate into constrained upstream investment by customers, directly affecting SLB's revenue.

2. Energy Transition and Regulatory Risks

The global shift towards alternative energy sources and increasingly stringent environmental, social, and governance (ESG) regulations pose a significant threat to SLB's traditional oilfield services business. Stricter environmental regulations in regions like Europe and North America could accelerate the decline in demand for conventional oil services before SLB's "New Energy" segment is fully scaled to replace this income. Additionally, the increasing focus on climate change and greenhouse gas emissions could lead to regulations that diminish demand for SLB's core services and impact the company's access to capital, potentially affecting its long-term growth. The shift from oil to gas by major national oil companies (NOCs) also presents a margin risk due to different service intensities.

3. Operational and Compliance Risks

SLB faces inherent operational risks, including potential disruptions to its supply chain and increased operational costs. Current geopolitical events, for example, have increased logistics costs and insurance premiums, which can be difficult to immediately pass on to customers. Furthermore, the company is exposed to legal and regulatory compliance risks, including adherence to anti-corruption, anti-bribery laws, and trade and economic sanctions laws and regulations. Historically, SLB has faced penalties for sanctions violations, highlighting the ongoing nature of these compliance challenges. The highly competitive energy services industry also necessitates continuous investment in technological innovation, service quality, and price differentiation, creating ongoing competitive pressure.

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The accelerated global transition to renewable energy sources and away from fossil fuels.

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For SLB (Schlumberger Limited), the addressable markets for its main products and services are sized globally and by region as follows:

Digital & Integration

  • The global digital oilfield market was valued at approximately USD 34.74 billion in 2025. North America held the largest share of this market, with a valuation of USD 10.36 billion in 2025.
  • The global Exploration & Production (E&P) software market is projected to be valued at USD 14.5 billion in 2026. North America leads this market, holding over a 36% share in 2026.

Well Construction

  • The global drilling services market was valued at USD 17.82 billion in 2025. North America dominated the global market with a share of 26.48% in 2025, valued at USD 4.72 billion. Another estimate places the global drilling services market at USD 89.98 billion in 2025.
  • The global drilling fluid market was valued at approximately USD 9.85 billion in 2025. North America was the top performer in this market, holding 34.3% of the market share in 2024.
  • The global drill bit market was valued at USD 2.57 billion in 2025. North America led the drill bit industry with a 41% share in 2024. Another source estimates the global drill bit market at USD 17.8 billion in 2025.
  • The global oil & gas well cementing services market was estimated at around USD 8.6 billion in 2025. North America remains the leading region, taking 42% of the regional share, and generating nearly USD 3.8 billion in 2025.

Reservoir Performance and Production Systems

  • The global well completion equipment service market was valued at USD 25.61 billion in 2025. North America dominated this market with a share of 34.71% in 2025, with the U.S. market reaching USD 6.78 billion in 2025. Another source estimates the global well completion equipment and services market size at approximately USD 11.75 billion in 2024.
  • The global artificial lift system market was valued at USD 13.9 billion in 2024. North America dominated the global artificial lift systems market with the largest market share of 37% in 2024.
  • The global subsea production and processing systems market was valued at USD 23.72 billion in 2025. Another source estimates the global subsea system market size at USD 22.06 billion in 2025. North America led with a 34.7% subsea system market share in 2025.

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Expected Drivers of Future Revenue Growth for SLB over the Next 2-3 Years

  • Strategic Acquisition of ChampionX: SLB's acquisition of ChampionX, completed in July 2025, is a significant driver of future revenue growth. This acquisition is expected to add approximately $1.8 billion in incremental revenue in 2026 due to full-year consolidation. It expands SLB's capabilities in production chemicals and artificial lift, allowing the company to capture recurring production expenditure and enhance cross-selling opportunities within its Production Systems and Digital divisions. The integration of ChampionX also bolsters SLB's exposure to the less cyclical production and recovery market.
  • Expansion of Digital & Integration Solutions, including AI and Data Center Solutions: The Digital & Integration segment is a high-margin growth area for SLB. The company reported 20% year-over-year growth in Digital & Integration revenue in Q4 2025. Digital annual recurring revenue (ARR) surpassed $1 billion, increasing 15% year-on-year. SLB is leveraging artificial intelligence (AI) and cloud-based platforms like Delfi and Lumi to optimize oilfield operations, with over 100 customers utilizing their digital solutions at scale. Furthermore, the Data Center Solutions business is rapidly expanding, growing 121% year-on-year in Q4 2025 and is projected to be the fastest-growing business, aiming for a quarterly revenue run rate of $1 billion per year.
  • Robust International Activity and Long-Cycle Offshore Projects: SLB anticipates continued strong international activity, particularly in the Middle East and offshore markets. International revenue grew 12% year-over-year in Q4 2025. National Oil Companies (NOCs) are investing in capacity expansion, contributing to strong project sanctioning activity across regions such as Saudi Arabia, UAE, Qatar, Iraq, Brazil, and West Africa. The OneSubsea joint venture is also securing large subsea production systems, providing multi-year backlog visibility through 2025–2027 and aligning with anticipated operator Final Investment Decisions (FIDs). Analysts also expect a "multi-year deepwater boom" to commence in late 2026.
  • Growth in New Energy Ventures: SLB is actively diversifying its revenue streams by investing in new energy adjacencies, which are projected to exceed $1 billion in revenue by the end of 2025. These ventures include Carbon Capture, Utilization, and Storage (CCUS), geothermal energy, and critical minerals. The company is engaged in partnerships, pilots for closed-loop geothermal and lithium direct extraction, and the development of high-efficiency electrolyzers for green hydrogen production, aiming to capitalize on the energy transition.

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Share Repurchases
  • SLB committed to returning at least $4 billion to shareholders in 2025 through dividends and share repurchases, following $3 billion in 2024.
  • In January 2025, SLB entered into accelerated share repurchase transactions totaling $2.3 billion, with 56.8 million shares received by April 2025.
  • SLB plans to repurchase approximately $2.4 billion in 2026, targeting the same amount as 2025, having resumed repurchases in the first quarter of 2023 after no repurchases in 2021 and most of 2022.
Share Issuance
  • In 2025, SLB issued 141 million shares of its common stock, valued at $4.9 billion, in connection with the all-stock acquisition of ChampionX Corporation.
  • A registration statement on Form S-8 was filed on July 1, 2025, for up to 24,000,000 shares of common stock to be offered pursuant to the SLB Discounted Stock Purchase Plan.
Outbound Investments
  • SLB acquired ChampionX Corporation in an all-stock transaction valued at approximately $7.75 billion, announced in April 2024 and completed in July 2025, to enhance its portfolio in production chemicals and digital offerings.
  • The company is investing in new energy ventures, including carbon capture, sustainable lithium production, hydrogen, geothermal, energy storage, and critical minerals, allocating capital to 55 high-impact sustainability projects in 2023.
  • SLB planned to invest $1.5 billion in digital technology for 2024 and invested $731 million in R&D for the twelve months ending June 30, 2025, focusing on AI, cloud computing, and data analytics.
Capital Expenditures
  • SLB's capital expenditures for fiscal years ending December 2021 to 2025 averaged $2.16 billion, peaking at $2.446 billion in 2023 and reaching a 5-year low of $1.615 billion in 2021.
  • Capital investment for the full-year 2025 was $2.4 billion, and for 2024, it was $2.6 billion. Expected capital investment for 2026 is approximately $2.5 billion.
  • The primary focus of capital expenditures includes maintaining existing assets, expanding property, plant, and equipment, and supporting digital transformation, AI initiatives, and New Energy adjacencies.

Interactive Breakdown

SLB Interactive Breakdown Analysis

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Peer Comparisons

Peers to compare with:

Financials

SLBBKRHALFTINOVEROKMedian
NameSLB Baker Hu.Hallibur.TechnipF.NOV EagleRoc. 
Mkt Price48.0958.4134.9365.1718.6620.6541.51
Mkt Cap72.157.829.226.16.7-29.2
Rev LTM35,94027,89322,16910,1928,693-22,169
Op Inc LTM5,1893,6142,9831,483459-2,983
FCF LTM4,4122,2921,6781,344734-1,678
FCF 3Y Avg4,5912,1472,1341,105619-2,134
CFO LTM6,3163,6012,8221,6551,090-2,822
CFO 3Y Avg6,6283,4143,4671,379958-3,414

Growth & Margins

SLBBKRHALFTINOVEROKMedian
NameSLB Baker Hu.Hallibur.TechnipF.NOV EagleRoc. 
Rev Chg LTM-0.4%0.2%-1.7%9.9%-1.4%--0.4%
Rev Chg 3Y Avg6.5%8.4%0.8%14.2%4.6%-6.5%
Rev Chg Q2.7%2.5%-0.3%11.6%-2.4%-2.5%
QoQ Delta Rev Chg LTM0.6%0.6%-0.1%2.6%-0.6%-0.6%
Op Inc Chg LTM-17.2%4.0%-20.2%37.3%-47.0%--17.2%
Op Inc Chg 3Y Avg5.3%21.9%-4.2%86.5%15.4%-15.4%
Op Mgn LTM14.4%13.0%13.5%14.6%5.3%-13.5%
Op Mgn 3Y Avg16.2%12.0%15.9%11.4%7.6%-12.0%
QoQ Delta Op Mgn LTM-0.8%0.1%-0.5%0.5%-1.2%--0.5%
CFO/Rev LTM17.6%12.9%12.7%16.2%12.5%-12.9%
CFO/Rev 3Y Avg18.8%12.5%15.3%14.8%10.9%-14.8%
FCF/Rev LTM12.3%8.2%7.6%13.2%8.4%-8.4%
FCF/Rev 3Y Avg13.0%7.9%9.4%11.8%7.1%-9.4%

Valuation

SLBBKRHALFTINOVEROKMedian
NameSLB Baker Hu.Hallibur.TechnipF.NOV EagleRoc. 
Mkt Cap72.157.829.226.16.7-29.2
P/S2.02.11.32.60.8-2.0
P/Op Inc13.916.09.817.614.7-14.7
P/EBIT15.315.012.317.717.9-15.3
P/E21.718.619.024.174.0-21.7
P/CFO11.416.110.415.86.2-11.4
Total Yield6.9%7.0%7.2%4.5%4.2%-6.9%
Dividend Yield2.3%1.6%2.0%0.3%2.9%-2.0%
FCF Yield 3Y Avg6.6%4.9%7.5%7.0%10.1%-7.0%
D/E0.20.30.30.10.3-0.3
Net D/E0.10.00.20.00.1-0.1

Returns

SLBBKRHALFTINOVEROKMedian
NameSLB Baker Hu.Hallibur.TechnipF.NOV EagleRoc. 
1M Rtn-15.6%-11.6%-15.4%-8.2%-9.5%-11.8%-11.7%
3M Rtn3.7%-2.9%-4.0%-0.1%0.8%-5.4%-1.5%
6M Rtn27.7%31.6%27.2%45.9%20.7%-5.4%27.4%
12M Rtn37.8%52.4%60.4%86.2%41.4%-5.4%46.9%
3Y Rtn10.8%106.8%19.5%342.4%30.5%-5.4%25.0%
1M Excs Rtn-16.8%-12.8%-20.4%-13.8%-12.2%-13.3%-13.6%
3M Excs Rtn-12.4%-17.0%-18.5%-15.1%-12.3%-19.0%-16.0%
6M Excs Rtn19.0%20.4%19.3%38.6%13.2%-15.7%19.2%
12M Excs Rtn11.6%24.7%30.0%59.9%13.1%-30.8%18.9%
3Y Excs Rtn-63.5%34.9%-57.4%281.0%-38.6%-77.1%-48.0%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Production Systems13,32512,1439,8317,8626,710
Well Construction11,85613,35713,47811,3978,706
Reservoir Performance6,8207,1776,5615,5534,599
Digital2,660    
All Other1,987    
Eliminations & other-940-635-606-446-376
Digital & Integration 4,2473,8713,7253,290
Total35,70836,28933,13528,09122,929


Operating Income by Segment
$ Mil19991997
Oilfield Services4021,557
Other Eastern215 
Camco74 
NAM68 
Europe67 
Resource Management Services6 
LAM5 
Test & Transactions3 
Elims/other-27 
Measurement & Systems 149
Total8131,706


Assets by Segment
$ Mil20252024202320222021
Goodwill and intangibles21,78317,60517,32315,97416,201
Production Systems9,3737,1166,6405,6034,684
Well Construction6,1676,7417,1296,4814,714
All other assets5,17910,5544,9444,4635,215
Cash and short term investments4,212 3,9892,8973,139
Reservoir Performance3,9473,8023,4913,1592,923
All Other2,249    
Eliminations & other1,033 1,3521,4261,501
Digital925    
Digital & Integration 3,1173,0893,1323,134
Total54,86848,93547,95743,13541,511


Price Behavior

Price Behavior
Market Price$48.09 
Market Cap ($ Bil)72.1 
First Trading Date12/31/1981 
Distance from 52W High-17.1% 
   50 Days200 Days
DMA Price$54.61$44.45
DMA Trendupup
Distance from DMA-11.9%8.2%
 3M1YR
Volatility34.2%34.4%
Downside Capture102.4561.88
Upside Capture66.2082.04
Correlation (SPY)30.0%29.4%
SLB Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta0.540.820.810.840.770.95
Up Beta-0.691.070.530.570.661.06
Down Beta0.650.021.221.021.081.27
Up Capture19%54%76%139%90%39%
Bmk +ve Days13283667141432
Stock +ve Days10233564128379
Down Capture204%112%90%45%51%90%
Bmk -ve Days7132757109318
Stock -ve Days10172759119367

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SLB
SLB37.1%34.7%0.96-
Sector ETF (XLE)25.3%20.9%0.9860.2%
Equity (SPY)26.5%12.4%1.6128.2%
Gold (GLD)24.2%27.5%0.7718.1%
Commodities (DBC)19.8%18.8%0.8322.2%
Real Estate (VNQ)11.0%13.7%0.5224.9%
Bitcoin (BTCUSD)-40.0%42.4%-1.0816.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SLB
SLB9.0%37.8%0.32-
Sector ETF (XLE)18.5%26.1%0.6480.7%
Equity (SPY)13.5%17.1%0.6239.1%
Gold (GLD)17.1%18.3%0.7615.1%
Commodities (DBC)7.5%19.4%0.2950.3%
Real Estate (VNQ)1.9%18.9%0.0028.4%
Bitcoin (BTCUSD)11.0%54.2%0.4013.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SLB
SLB-2.1%40.5%0.08-
Sector ETF (XLE)8.9%29.6%0.3485.5%
Equity (SPY)15.3%18.0%0.7350.3%
Gold (GLD)12.3%16.1%0.637.2%
Commodities (DBC)5.9%18.0%0.2652.5%
Real Estate (VNQ)5.3%20.7%0.2238.7%
Bitcoin (BTCUSD)60.0%66.8%1.0013.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity55.4 Mil
Short Interest: % Change Since 5152026-9.8%
Average Daily Volume15.3 Mil
Days-to-Cover Short Interest3.6 days
Basic Shares Quantity1,499.0 Mil
Short % of Basic Shares3.7%

Earnings Returns History

Updated 6/2/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/24/20262.6%3.9%4.6%
1/23/2026-0.3%-1.8%4.5%
10/17/2025-0.9%9.4%12.2%
7/18/2025-3.9%1.6%-4.8%
4/25/2025-1.2%-3.4%-3.6%
1/17/20256.1%2.8%4.5%
10/18/2024-4.7%-6.2%-1.8%
7/19/20241.9%-1.0%-8.1%
...
SUMMARY STATS   
# Positive111113
# Negative131311
Median Positive2.2%5.9%8.9%
Median Negative-2.1%-3.4%-5.4%
Max Positive10.3%13.1%26.5%
Max Negative-8.8%-7.7%-12.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/24/20262.6%3.9%4.6%
1/23/2026-0.3%-1.8%4.5%
10/17/2025-0.9%9.4%12.2%
7/18/2025-3.9%1.6%-4.8%
4/25/2025-1.2%-3.4%-3.6%
1/17/20256.1%2.8%4.5%
10/18/2024-4.7%-6.2%-1.8%
7/19/20241.9%-1.0%-8.1%
4/19/2024-2.1%-2.9%-4.6%
1/19/20242.2%8.1%0.6%
10/20/2023-2.9%-6.8%-11.9%
7/21/2023-2.2%-0.4%1.3%
4/21/2023-4.2%-7.7%-12.9%
1/20/2023-0.1%0.2%-6.6%
10/21/202210.3%13.1%17.0%
7/22/20224.3%6.2%10.4%
4/22/20222.5%-1.3%1.2%
1/21/2022-1.9%4.9%8.9%
10/22/2021-1.1%-2.9%-12.4%
7/23/20211.5%5.9%-5.4%
4/23/20211.8%10.2%26.5%
1/22/20210.9%-6.4%15.0%
10/16/2020-8.8%-6.8%9.6%
7/24/20200.9%-4.5%-3.7%
SUMMARY STATS   
# Positive111113
# Negative131311
Median Positive2.2%5.9%8.9%
Median Negative-2.1%-3.4%-5.4%
Max Positive10.3%13.1%26.5%
Max Negative-8.8%-7.7%-12.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202604/29/202610-Q
12/31/202501/23/202610-K
09/30/202510/22/202510-Q
06/30/202507/24/202510-Q
03/31/202504/25/202510-Q
12/31/202401/22/202510-K
09/30/202410/23/202410-Q
06/30/202407/24/202410-Q
03/31/202404/24/202410-Q
12/31/202301/24/202410-K
09/30/202310/25/202310-Q
06/30/202307/26/202310-Q
03/31/202304/26/202310-Q
12/31/202201/25/202310-K
09/30/202210/26/202210-Q
06/30/202207/27/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202604/29/202610-Q
12/31/202501/23/202610-K
09/30/202510/22/202510-Q
06/30/202507/24/202510-Q
03/31/202504/25/202510-Q
12/31/202401/22/202510-K
09/30/202410/23/202410-Q
06/30/202407/24/202410-Q
03/31/202404/24/202410-Q
12/31/202301/24/202410-K
09/30/202310/25/202310-Q
06/30/202307/26/202310-Q
03/31/202304/26/202310-Q
12/31/202201/25/202310-K
09/30/202210/26/202210-Q
06/30/202207/27/202210-Q
03/31/202204/27/202210-Q
12/31/202101/26/202210-K
09/30/202110/27/202110-Q
06/30/202107/28/202110-Q
03/31/202104/28/202110-Q
12/31/202001/27/202110-K
09/30/202010/21/202010-Q
06/30/202007/29/202010-Q
03/31/202004/22/202010-Q
12/31/201901/22/202010-K
09/30/201910/23/201910-Q
06/30/201907/24/201910-Q

Recent Forward Guidance

Updated 5/31/2026

Latest: Q1 2026 Earnings Reported 4/24/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Capital Investment 2.50 Bil 0 AffirmedGuidance: 2.50 Bil for 2026
2026 Shareholder Returns 4.00 Bil 0 AffirmedGuidance: 4.00 Bil for 2026

Prior: Q4 2025 Earnings Reported 1/23/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Capital Investment 2.50 Bil 4.2% RaisedGuidance: 2.40 Bil for 2025
2026 Shareholder Returns 4.00 Bil    

Insider Activity

Updated 5/27/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Le, Peuch OlivierChief Executive OfficerDirectSell527202656.9925,0001,424,75077,867,033Form
2De, La Chevardiere Patrick DirectSell507202654.332,000108,660921,056Form
3Gassen, Steve MatthewEVP, GeographiesDirectSell501202656.1853,3792,998,7662,664,053Form
4Le, Peuch OlivierChief Executive OfficerDirectSell429202656.4825,0001,412,00078,582,205Form
5Le, Peuch OlivierChief Executive OfficerDirectSell325202650.5625,0001,264,00071,609,544Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Le, Peuch OlivierChief Executive OfficerDirectSell527202656.9925,0001,424,75077,867,033Form
2De, La Chevardiere Patrick DirectSell507202654.332,000108,660921,056Form
3Gassen, Steve MatthewEVP, GeographiesDirectSell501202656.1853,3792,998,7662,664,053Form
4Le, Peuch OlivierChief Executive OfficerDirectSell429202656.4825,0001,412,00078,582,205Form
5Le, Peuch OlivierChief Executive OfficerDirectSell325202650.5625,0001,264,00071,609,544Form
6Le, Peuch OlivierChief Executive OfficerDirectSell225202652.0025,0001,300,00074,570,288Form
7Ralston, Dianne BChief Legal Officer & SecDirectSell127202649.5018,617921,54211,092,802Form
8Merad, AbdellahEVP, Core Services & EquipmentDirectSell127202649.7060,0002,982,0006,987,919Form
9Guild, HowardChief Accounting OfficerDirectSell127202649.7013,268659,4201,113,628Form
10Biguet, StephaneEVP & CFODirectSell127202649.7061,0173,032,5457,730,736Form
11De, La Chevardiere Patrick DirectSell127202650.294,000201,160981,912Form
12Coleman, Peter John DirectSell1202202535.825,500197,010668,795Form
13Biguet, StephaneEVP & CFODirectSell1114202536.7538,4471,412,9276,456,608Form
14Merad, AbdellahEVP, Core Services & EquipmentDirectSell1112202537.6960,0002,261,4006,006,693Form
15Ralston, Dianne BChief Legal Officer & SecDirectSell912202536.0839,7271,433,3507,295,412Form
16De, La Chevardiere Patrick DirectSell527202533.585,000167,900789,970Form
Core Cache Last Updated: 6/21/2026