SLBSchlumberger

Energy · Oilfield Services · NYSE

All references in this report to “Registrant,” “Company,” “SLB,” “we” or “our” are to SLB N.V. (SLB Limited) and its consolidated subsidiaries. 10-K, Item 1

Headquarters: Houston, TX
CEO: Peuch Olivier Le
Next results: around Jan 22, 2027

Compare with peers → Embed

All key numbers (31, from the latest 10-K and 10-Q) From EDGAR

EPS (ttm)	2.06	Sales (ttm)	36.9B	Net income (ttm)	3.1B	Sales growth	-1.6%	EPS growth	-24.4%	Sales Q/Q	+5.8%
Free cash flow	4.6B	Gross margin	-	Oper. margin	-	Net margin	8.4%	FCF margin	12.4%	ROE	11.9%
ROA	5.5%	R&D / sales	2.0%	Dividend	-	Debt/Eq	0.43	Curr. ratio	1.39	Cash	-
Op. cash flow (ttm)	6.4B	Quick ratio	1.05	Tax rate	19.6%	Stock pay / sales	0.9%	Shares out.	1.5B	Shares Y/Y	+0.1%
Book / share	17.65	Sales / share	24.99	Asset turnover	0.66	Days sales out.	89	Sales 3Y CAGR	+8.3%	Sales 5Y CAGR	+8.6%
EPS 3Y CAGR	-0.6%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024

Revenue growth slowed to -1.6%+9.5% → -1.6% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗

What management wrote about it → · Every company →

SLB against Energy peers

Ten years, side by side → · All 21 →

SLBPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 21 companies, the better end on the right. Hover a dot for the company.

Sales growth

-1.6%12th of 21 · median -0.3%

Net margin

8.4%18th of 21 · median 13.5%

Return on equity

11.9%16th of 21 · median 17.4%

Free cash flow margin

12.4%7th of 14 · median 12.1%

Debt / equity (less is better)

0.4311th of 20 · median 0.41

SLB and the 5 peers closest in revenue
Company	Revenue (ttm)	Sales growth	Gross margin	Net margin	ROE	FCF margin	Debt / equity
SLB Schlumberger	$36.9B	-1.6%	-	8.4%	11.9%	12.4%	0.43
OKE Oneok	$43.2B	+55.0%	25.2%	9.4%	17.4%	5.9%	1.22
EOG EOG Resources	$29.7B	-4.5%	-	27.5%	24.7%	-	0.24
BKR Baker Hughes	$28.7B	-0.3%	-	10.1%	14.4%	11.2%	0.91
OXY Occidental Petroleum	$25.0B	-1.9%	-	30.1%	17.4%	23.5%	0.25
HAL Halliburton	$22.5B	-3.3%	-	8.9%	18.0%	7.1%	0.64

Profitability

0 of 3

!
Net margin below the peer median8.4% vs 13.5%
!
Return on equity below 15%11.9%
!
A profit in 6 of 10 years

Net margin, FY2016 to FY2025: -6.1% → 9.4%

Balance sheet

2 of 2

✓
Debt smaller than equityDebt / equity 0.43 on the latest balance sheet (peer median 0.41)
✓
Current assets cover current liabilitiesCurrent ratio 1.39

Debt / equity at each year end, FY2016 to FY2025: 0.48 → 0.37

What the debt is made of ↓

Cash and shareholders

2 of 3

✓
Free cash flow positive in every one of 10 years$4.8B last year
!
Share count up over 5 years+3.4%
✓
Cash from operations above net income$6.5B vs $3.4B

Free cash flow, FY2016 to FY2025: 4.2B → 4.8B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

What the debt is made of, and when it is due

balance sheet of Sep 30, 2026 · schedule of Dec 31, 2025

The debt note's own lines, 2025-12-31

Line, as the company names it	Kind	Rate	Fixed or floating	Amount
3.90% Senior Notes due 2028	Notes and bonds	3.90%	not stated	$1.5B
2.65% Senior Notes due 2030	Notes and bonds	2.65%	not stated	$1.2B
2.00% Guaranteed Notes due 2032	Notes and bonds	2.00%	not stated	$1.2B
0.25% Notes due 2027	Notes and bonds	0.25%	not stated	$1.1B
0.50% Notes due 2031	Notes and bonds	0.50%	not stated	$1.1B
4.30% Senior Notes due 2029	Notes and bonds	4.30%	not stated	$848.0M
5.00% Senior Notes due 2027	Notes and bonds	5.00%	not stated	$497.0M
4.50% Senior Notes due 2028	Notes and bonds	4.50%	not stated	$497.0M
4.85% Senior Notes due 2033	Notes and bonds	4.85%	not stated	$495.0M
5.00% Senior Notes due 2029	Notes and bonds	5.00%	not stated	$494.0M
5.00% Senior Notes due 2034	Notes and bonds	5.00%	not stated	$487.0M
7.00% Notes due 2038	Notes and bonds	7.00%	not stated	$195.0M
5.95% Notes due 2041	Notes and bonds	5.95%	not stated	$111.0M
5.13% Notes due 2043	Notes and bonds	5.13%	not stated	$98.0M

All 14 lines

From the debt note in the 10-K's XBRL (0001193125-26-021017), as the company tags it: by issue, by year, by currency or by kind. Lines from two ways of cutting the same debt can overlap, so they are not added up. Fixed or floating is read from the line's own name only; "not stated" when it says neither.

Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. The full schedule →

Revenue and net income, FY2016 to FY2025

Revenue 35.7B Net income 3.4B

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Where the $35.7B of revenue came from

by product, year to Dec 31, 2025

Services $21.2B · 59%
Product $14.5B · 41%

From the segment tables in the 10-K XBRL. Revenue by segment, product and region →

SLB's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly

Revenue35.7B

Net income3.4B

Free cash flow4.8B

EPS (diluted)2.35

Diluted shares1.4B

The segments changed

10-K filed 2026-01-23

Compared with the 10-K of Jan 22, 2025: new segment All Other Segments .

When a company changes its segments, the years before are usually recast, so growth by segment is not comparable with what earlier 10-Ks showed. Found by comparing the segments with revenue in the last two 10-Ks (XBRL) and by the 10-K's own words, without AI.

Revenue by business segment

year to Dec 31, 2025

	Revenue	Share	vs year before
Production Systems	13.3B	37.3%	+11.6%
Well Construction	11.9B	33.2%	-11.2%
Reservoir Performance	6.8B	19.1%	-5.0%
Digital Integration	2.7B	7.4%	+9.1%
All Other Segments	2.0B	5.6%	-6.1%
Eliminations Other	-940.0M	-2.6%	-

10-K 0001193125-26-021017, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025

	Revenue	Share	vs year before
Services	21.2B	59.4%	-9.0%
Product	14.5B	40.6%	+11.7%

10-K 0001193125-26-021017, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025

	Revenue	Share	vs year before
Non Us	27.9B	78.3%	-5.0%
Middle East	12.2B	34.2%	-6.2%
Europe Africa	9.6B	26.8%	-1.0%
North America	7.5B	21.0%	+12.5%
US	6.3B	17.6%	+18.9%
Latin America	6.2B	17.2%	-8.4%
Other Countries	251.0M	0.7%	+30.1%

10-K 0001193125-26-021017, segment and revenue notes (XBRL).

Income statement

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	27.8B	30.4B	32.8B	32.9B	23.6B	22.9B	28.1B	33.1B	36.3B	35.7B
Cost of revenue	7.1B	8.3B	-	-	-	-	-	-	-	-
R&D	1.0B	787.0M	702.0M	717.0M	580.0M	554.0M	634.0M	711.0M	749.0M	709.0M
SG&A	403.0M	432.0M	444.0M	474.0M	365.0M	339.0M	376.0M	364.0M	385.0M	340.0M
Operating income	3.3B	3.9B	4.2B	4.0B	2.4B	3.4B	5.0B	6.5B	-	-
Interest expense	570.0M	566.0M	575.0M	609.0M	563.0M	539.0M	490.0M	503.0M	512.0M	558.0M
Pretax income	-1.9B	-1.2B	2.6B	-10.4B	-11.3B	2.4B	4.3B	5.3B	5.7B	4.3B
Income tax	-278.0M	330.0M	447.0M	-311.0M	-812.0M	446.0M	779.0M	1.0B	1.1B	840.0M
Net income	-1.7B	-1.5B	2.1B	-10.1B	-10.5B	1.9B	3.4B	4.2B	4.5B	3.4B
EPS (diluted)	-1.24	-1.08	1.53	-7.32	-7.57	1.32	2.39	2.91	3.11	2.35
Diluted shares	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B
Depreciation & amortization	4.1B	3.8B	3.6B	3.6B	2.6B	2.1B	2.1B	2.3B	2.5B	2.6B
EBITDA	7.4B	7.8B	7.7B	7.6B	5.0B	5.5B	7.2B	8.8B	-	-
Operating margin	11.8%	12.9%	12.8%	12.1%	10.2%	14.7%	17.8%	19.7%	-	-
Net margin	-6.1%	-4.9%	6.5%	-30.8%	-44.6%	8.2%	12.2%	12.7%	12.3%	9.4%
Revenue growth	-	+9.5%	+7.8%	+0.3%	-28.3%	-2.8%	+22.5%	+18.0%	+9.5%	-1.6%
EPS growth	-	-	-	-578%	-	-	+81.1%	+21.8%	+6.9%	-24.4%

Balance sheet

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Short-term investments	6.3B	3.3B	1.3B	1.0B	2.2B	1.4B	1.2B	1.1B	1.1B	1.2B
Receivables	9.4B	8.1B	7.9B	7.7B	5.2B	5.3B	6.8B	7.8B	8.0B	8.7B
Inventory	4.2B	4.0B	4.0B	4.1B	3.4B	3.3B	4.0B	4.4B	4.4B	5.0B
Current assets	23.9B	18.5B	15.7B	15.5B	12.9B	12.7B	15.0B	17.7B	18.6B	19.5B
Property & equipment	12.8B	11.6B	11.7B	9.3B	6.8B	6.6B	6.6B	7.2B	7.4B	7.9B
Goodwill	25.0B	25.1B	24.9B	16.0B	13.0B	13.0B	13.0B	14.1B	14.6B	16.8B
Total assets	78.0B	72.0B	70.5B	56.3B	42.4B	41.5B	43.1B	48.0B	48.9B	54.9B
Current liabilities	15.1B	15.3B	13.5B	13.1B	10.5B	10.4B	12.0B	13.4B	12.8B	14.7B
Total debt	19.6B	14.9B	14.6B	14.8B	16.0B	13.3B	10.6B	10.8B	11.0B	9.7B
Total liabilities	36.4B	34.7B	33.9B	32.1B	29.9B	26.2B	25.1B	26.6B	26.6B	27.6B
Shareholders' equity	41.1B	36.8B	36.2B	23.8B	12.1B	15.0B	17.7B	20.2B	21.1B	26.1B
Retained earnings	36.5B	32.2B	31.7B	18.8B	7.0B	8.2B	10.7B	13.5B	16.4B	18.1B

Cash flow

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	6.3B	5.7B	5.7B	5.4B	2.9B	4.7B	3.7B	6.6B	6.6B	6.5B
Capital spending	2.1B	2.1B	2.2B	1.7B	1.1B	1.1B	1.6B	1.9B	1.9B	1.7B
Free cash flow	4.2B	3.6B	3.6B	3.7B	1.8B	3.5B	2.1B	4.7B	4.7B	4.8B
Stock-based pay (added back)	267.0M	343.0M	345.0M	405.0M	397.0M	324.0M	313.0M	293.0M	316.0M	332.0M
Dividends paid	2.6B	2.8B	2.8B	2.8B	1.7B	699.0M	848.0M	1.3B	1.5B	1.6B
Debt raised	3.6B	2.4B	898.0M	4.0B	5.8B	34.0M	-	994.0M	1.5B	-
Debt repaid	5.6B	3.0B	2.9B	4.8B	5.0B	2.1B	1.6B	1.6B	955.0M	1.6B
Investing cash flow	-624.0M	-1.8B	-1.0B	-2.0B	-2.4B	-919.0M	-1.4B	-2.8B	-3.1B	-1.4B
Financing cash flow	-5.4B	-5.0B	-5.0B	-3.7B	-873.0M	-2.8B	-2.4B	-2.5B	-2.8B	-5.6B

Stock-based pay and leases

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Stock-based pay (expense)	267.0M	343.0M	345.0M	405.0M	397.0M	324.0M	313.0M	293.0M	316.0M	332.0M
Stock-based pay / revenue	1.0%	1.1%	1.1%	1.2%	1.7%	1.4%	1.1%	0.9%	0.9%	0.9%
Right-of-use assets	-	-	1.8B	1.3B	710.0M	553.0M	-	-	-	-
Operating lease liabilities	-	-	1.8B	1.0B	1.0B	814.0M	699.0M	810.0M	742.0M	905.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

Work on SLB in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/SLB/export.csv") into a cell.