SLB
SLB N.V.
SLB's fundamentals are mixed, but it looks expensive: trading at 25x earnings, above its usual 20x. Analysts expect strong earnings growth.
SLB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Healthy |
SLB's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
SLB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 13x | $27.43 | -46% |
| Forward | 18x | $50.91 | — |
| Fair | 20x | $40.89 | -20% |
| Current | 25x | $50.91 | — |
| Expensive | 26x | $53.62 | +5.3% |
Historical ranges are pointers, not guarantees.
SLB's PE is in its expensive range at 25x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its fair range.
SLB Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for SLB, with profitability improving.
SLB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.91 | +43% |
| Q3 2026 | $2.04 | -21% |
| Q2 2026 | $2.05 | -30% |
| Q1 2026 | $2.27 | -23% |
| Q4 2025 | $2.35 | -24% |
| Q3 2025 | $2.59 | -16% |
| Q2 2025 | $2.92 | -4.3% |
| Q1 2025 | $2.95 | -1.7% |
| Q4 2024 | $3.11 | +6.9% |
SLB's earnings per share have fallen from their peak: $2.04 over the past year, against $3.11 in late 2024.
SLB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $9.4B | +5.8% |
| Q2 2026 | $9B | +5% |
| Q1 2026 | $8.7B | +2.7% |
| Q4 2025 | $9.7B | +5% |
| Q3 2025 | $8.9B | -2.5% |
| Q2 2025 | $8.5B | -6.5% |
| Q1 2025 | $8.5B | -2.5% |
| Q4 2024 | $9.3B | +3.3% |
SLB's revenue has grown year over year for four quarters in a row: $9.4B last quarter, up 5.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | -0.4 points |
| Q2 2026 | 11% | -3.7 points |
| Q1 2026 | 11% | -1.6 points |
| Q4 2025 | 9.7% | -5.3 points |
| Q3 2025 | 11% | -5.3 points |
| Q2 2025 | 15% | -0.5 points |
| Q1 2025 | 13% | -6.4 points |
| Q4 2024 | 15% | -5.8 points |
SLB's operating margin was 11% last quarter, about level with the same quarter a year ago.
SLB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1B | -19% |
| Q2 2026 | $900M | +17% |
| Q1 2026 | $144M | -45% |
| Q4 2025 | $2.5B | +40% |
| Q3 2025 | $1.3B | -36% |
| Q2 2025 | $771M | -21% |
| Q1 2025 | $262M | +$334M |
| Q4 2024 | $1.8B | -27% |
SLB generated $4.6B in free cash flow over the past year, up 12% from the year before.
SLB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -9M shares |
| 1 year | +0.6% | +9M shares |
| 3 years | +3.8% | +55M shares |
| 5 years | +5.1% | +73M shares |
| Available history | +8.1% | +112M shares |
SLB has 1.5B diluted shares, up 0.6% from a year ago, despite $1.8B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $656M |
| Q2 2026 | $648M |
| Q1 2026 | $451M |
| Q4 2025 | — |
| Q3 2025 | $114M |
| Q2 2025 | — |
| Q1 2025 | $2.3B |
| Q4 2024 | $501M |
SLB spent $1.8B buying back its own shares over the past year, down 40% from the year before.
SLB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 1.0x | Very low |
| Q3 2025 | 1.1x | Healthy |
| Q2 2025 | 1.0x | Very low |
| Q1 2025 | 1.0x | Very low |
| Q4 2024 | 0.9x | Very low |
SLB's net debt is about 1.3 years of its operating earnings (EBITDA), up from 1.1 years a year ago.
SLB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.6 | Neutral |
| Stochastic | 32.8 | Neutral |
SLB's weekly RSI is 50 (neutral) and its Stochastic is 33 (neutral).
SLB PE vs Energy Sector
| Metric | SLB | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 13x | 90% above |
| PE % | 77 | 61 | 16 pts above |
SLB is trading at 25x earnings, a 90% premium to the Energy sector's median of 13x.
SLB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $50.8 | 0.2% above |
| 20 week MA | $51.4 | 1% below |
| 50 week MA | $50.0 | 1.8% above |
| 100 week MA | $43.3 | 18% above |
| 200 week MA | $46.6 | 9.3% above |
SLB's trend is mixed: it's above four of its five weekly moving averages, and 9.3% above its 200-week average.
SLB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $40.0 | $21.6 | -46% |
| 2021 | $21.6 | $29.6 | +37% |
| 2022 | $29.6 | $53.0 | +79% |
| 2023 | $53.0 | $52.0 | -1.8% |
| 2024 | $52.0 | $37.8 | -27% |
| 2025 | $37.8 | $37.8 | 0% |
| 2026 YTD | $37.8 | $50.9 | +35% |
SLB has finished three years in a row lower, and it's up 35% so far in 2026.