SLB N.V. (SLB) is listed on NYSE and operates in the Oil & Gas Equipment & Services industry (Energy sector).
SLB N.V. engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products. It also offers subsurface geology and fluids evaluation information; stimulation services to restore or enhance well productivity through hydraulic fracturing, matrix stimulation, and water treatment; and intervention services to oil and gas operators. In addition, the company offers mud logging, directional drilling, measurement-while-drilling, and logging-while-drilling services, as well as engineering support services; supplies drilling fluid systems; designs, manufactures, and markets roller cone and fixed cutter drill bits; bottom-hole-assembly and borehole enlargement technologies; well planning, well drilling, engineering, supervision, logistics, procurement, and contracting of third parties, as well as drilling rig management solutions; and drilling equipment and services, as well as land drilling rigs and related services. Further, it provides artificial lift; supplies packers, safety valves, sand control technology, and various intelligent systems; midstream production systems;...
| Rating | Analysts |
|---|---|
| Strong Buy | 0 |
| Buy | 56 |
| Hold | 6 |
| Sell | 4 |
| Strong Sell | 0 |
SLB N.V. provides technology solutions for the global energy industry, focusing on oil and gas equipment and services. The company operates through four main divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. SLB offers services in field development, hydrocarbon production, and carbon management, as well as integration of adjacent energy systems. It provides reservoir interpretation, data processing, and well construction services, along with products aimed at improving production. The company also delivers subsurface geology and fluids evaluation, stimulation services like hydraulic fracturing and matrix stimulation, and intervention services for oil and gas operators. Additionally, SLB offers drilling-related services such as mud logging, directional drilling, and measurement-while-drilling, along with engineering support and drilling equipment. The company supplies artificial lift systems, packers, safety valves, and sand control technology, as well as midstream production systems and various intelligent systems. SLB also provides integrated subsea solutions through its OneSubsea brand. Founded in 1926 and formerly known as Schlumberger Limited, SLB N.V. is headquartered in Houston, Texas.
Over the past three fiscal years, the company has experienced an inconsistent revenue trajectory, growing at a modest 3.8% CAGR from $33.1 billion in 2023 to $35.7 billion in 2025. Despite this growth, profitability metrics have shown signs of compression. The gross margin decreased by 1.6pp from 19.8% to 18.2%, while the operating margin contracted by 1.3pp, ending at 15.3%. Net margin saw a more pronounced decline of 3.3pp, finishing at 9.4%, indicating challenges in maintaining profitability as costs potentially outpaced revenue growth. Earnings per share (EPS) also declined, with a negative CAGR of 10.1%, dropping from $2.91 to $2.35, partially due to a 3.1% increase in share count, which diluted per-share gains. On the cash flow front, operating cash flow consistently decreased, though free cash flow (FCF) showed some resilience, increasing from $4.5 billion to $4.8 billion, albeit with a slight margin contraction. The company's capital efficiency metrics reveal a consistent decrease in capex intensity, now at 4.7%, suggesting a more capital-light approach. However, working capital efficiency has deteriorated, with the cash conversion cycle increasing to 87 days, driven by rising days sales outstanding and inventory days. Despite these challenges, the company maintains a solid interest coverage ratio of 9.4x, indicating a strong ability to meet its interest obligations.
SLB Limited is poised to release its Q1 earnings report on April 21, with analysts anticipating a decline in earnings. The company is expected to report quarterly revenue of $75 billion, with analysts projecting earnings per share (EPS) of $3 for the current fiscal year and $4 for the next. In recent analyst activity, SLB received a consensus rating of "Moderate Buy," with Piper Sandler and Royal Bank of Canada raising their target prices to $42 and $51, respectively. Additionally, SLB has expanded its digital operations in Angola through a new subsea deal with PETRONAS. On the institutional front, Bingham Private Wealth LLC acquired 9,996 shares valued at approximately $384,000, while Douglas Lane & Associates LLC purchased 1,280,210 shares. Other notable institutional movements include State Street Corp and Dimensional Fund Advisors LP increasing their holdings significantly. These developments indicate ongoing strategic initiatives and institutional interest, although the anticipated earnings decline may weigh on investor sentiment.