Schlumberger (SLB) AI Stock Analysis

• Market Cap: $69.73B
• Dividend Yield: 2.98%
• Average Volume (3M): 18.60M
• Price to Earnings (P/E): 16.9
• Beta (1Y): 0.87
• Revenue Growth: -2.13%
• EPS Growth: -16.76%
• Country: US
• Employees: 110,000
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): 0.78
• Shares Outstanding: 1,495,331,500
• 10 Day Avg. Volume: 23,458,501
• 30 Day Avg. Volume: 18,602,620
• PEG Ratio: -0.70
• Price to Book (P/B): 2.16
• Price to Sales (P/S): 1.58
• P/FCF Ratio: 11.77
• Enterprise Value/Market Cap: 1.12
• Enterprise Value/Revenue: 2.19
• Enterprise Value/Gross Profit: 12.04
• Enterprise Value/Ebitda: 10.96
• 1Y Price Target: $55.51
• Price Target Upside: 19.04% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 15
• EPS Forecast (FY): 2.83
• Revenue Forecast (FY): $36.92B

• Rating: 69 Neutral
• Price Target: $53.00 ▲(13.66% Upside)
• Action: Downgraded Date: 03/11/26
• Date: Action: Downgraded 03/11/26

The score is driven primarily by above-average financial quality (lower leverage and strong cash generation) and a generally constructive earnings outlook tied to ChampionX/synergies and continued shareholder returns. These positives are tempered by weaker near-term technical momentum and a fresh operational disruption that pressures Q1 results, while valuation remains reasonable but not notably cheap.

Positive Factors

Stronger Balance Sheet

Meaningfully lower leverage and a stronger equity base improve Schlumberger's financial flexibility across the cycle. This durable capital-structure improvement supports sustained investment, merger integration, and shareholder returns while reducing refinancing risk during industry downturns.

Consistent Cash Generation

Repeated multi-year free cash flow generation provides a structural source of funding for capex, integration (ChampionX), buybacks and dividends. Reliable cash conversion underpins long-term strategic optionality and reduces dependence on external financing in a cyclical industry.

Digital & Recurring Revenue Growth

Rapidly growing digital services and >$1B ARR create a higher‑margin, more recurring revenue stream that diversifies SLB away from purely cyclical field services. Higher retention and margins in digital improve long-term profitability resilience and cross-sell potential.

Negative Factors

Geopolitical Operational Risk

Substantial exposure to the Middle East creates recurring operational and safety-driven disruption risk. Demobilizations and suspended travel materially reduce near-term activity and increase reinsertion costs, adding persistent execution uncertainty for multi-year projects and backlog realization.

2025 Revenue & Margin Softening

A reversal from prior multi-year growth into a 2025 revenue decline and lower margins signals potential mix, pricing or cost pressures. If sustained, this trend can erode cash conversion and limit reinvestment capacity for growth initiatives and integration synergies.

Pricing & Division Margin Pressure

Continued pricing pressure and expected year‑over‑year margin declines in reservoir performance and well construction reflect structural competitiveness and tender dynamics. These pressures can compress segment profitability and constrain the company's ability to fund digital and subsea expansion without offsetting cost reductions.

Schlumberger Business Overview & Revenue Model

Company Description

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; valves, chokes, actuators, and surface trees; and OneSubsea, an integrated solutions, products, systems, and services, including wellheads, subsea trees, manifolds and flowline connectors, control systems, connectors, and services. The company was formerly known as Schlumberger Limited and change its name to SLB N.V. in October 2025. SLB N.V. was founded in 1926 and is based in Houston, Texas.

How the Company Makes Money

Schlumberger generates revenue primarily through the provision of oilfield services and technology solutions to upstream oil and gas companies. Its revenue model is largely based on charging clients for its services, which include drilling, well services, and reservoir management. Key revenue streams include contracts for drilling services, production optimization, and data analysis. Schlumberger also benefits from long-term contracts with major oil companies and government entities, which provide a stable income. Additionally, the company has formed significant partnerships with other industry players and technology firms to enhance its service offerings and maintain a competitive edge, further contributing to its earnings.

Schlumberger Financial Statement Overview

Summary

Above-average fundamentals supported by a strengthened balance sheet (materially lower leverage and higher equity) and consistently strong operating cash flow/free cash flow. Offsetting this, 2025 showed a modest revenue decline and softer margins versus 2024, signaling some cooling momentum.

Income Statement

Revenue expanded strongly from 2021–2024 (with positive growth each year), but 2025 saw a modest revenue decline versus 2024. Profitability improved materially from the 2020 loss year, with net margin staying solid in 2022–2024 (~12% range) before easing in 2025 (~9%). Gross margin and cash earnings margin also softened in 2025 versus 2024, suggesting some mix/price or cost pressure. Overall: good post-cycle recovery and profitability, but momentum cooled in the most recent year.

Balance Sheet

Leverage has improved meaningfully over time: debt-to-equity moved down from elevated levels in 2020–2021 to ~0.57 in 2023–2024 and ~0.32 in 2025, indicating a stronger capital structure. Equity rose sharply in 2025 versus prior years, further supporting balance sheet resilience. Total debt is broadly stable to slightly lower versus the peak period, which is favorable; however, the business remains exposed to a cyclical industry, so maintaining this lower leverage profile is important.

Cash Flow

Operating cash flow is consistently strong in 2021–2025, and free cash flow is healthy and improved meaningfully from 2022 levels. Free cash flow growth was robust in 2025 (up strongly versus 2024) after being roughly flat-to-down in 2024, showing renewed cash generation momentum. A watch item is that free cash flow remains below net income in recent years (roughly two-thirds to three-quarters of earnings), implying some working capital and/or investment needs that limit conversion, even though absolute cash flow is solid.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	35.71B	36.29B	33.13B	28.09B	22.93B
Gross Profit	6.50B	7.46B	6.56B	5.16B	3.66B
EBITDA	7.15B	8.07B	7.54B	6.43B	4.62B
Net Income	3.35B	4.46B	4.20B	3.44B	1.88B
Balance Sheet
Total Assets	54.87B	48.94B	47.96B	43.13B	41.51B
Cash, Cash Equivalents and Short-Term Investments	4.21B	4.67B	3.99B	2.89B	3.14B
Total Debt	12.31B	12.07B	11.96B	12.23B	14.20B
Total Liabilities	27.58B	26.59B	26.60B	25.15B	26.23B
Stockholders Equity	26.11B	21.13B	20.19B	17.68B	15.00B
Cash Flow
Free Cash Flow	4.79B	4.47B	4.54B	2.00B	3.47B
Operating Cash Flow	6.49B	6.60B	6.64B	3.72B	4.65B
Investing Cash Flow	-1.41B	-3.15B	-2.78B	-1.39B	-919.00M
Financing Cash Flow	-5.64B	-2.77B	-2.51B	-2.38B	-2.82B

Schlumberger Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 46.63
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SLB, the sentiment is Positive. The current price of 46.63 is below the 20-day moving average (MA) of 48.16, below the 50-day MA of 48.48, and above the 200-day MA of 38.41, indicating a neutral trend. The MACD of -0.75 indicates Positive momentum. The RSI at 45.88 is Neutral, neither overbought nor oversold. The STOCH value of 58.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SLB.

Schlumberger Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TS	80 Outperform	$30.34B	10.34	11.48%	4.43%	-9.76%	-18.94%
FTI	79 Outperform	$26.11B	19.37	29.62%	0.44%	11.73%	45.70%
SLB	69 Neutral	$69.73B	16.85	14.64%	2.98%	-2.13%	-16.76%
BKR	69 Neutral	$59.64B	17.39	14.43%	2.04%	1.51%	30.09%
HAL	66 Neutral	$30.60B	18.48	12.36%	2.41%	-4.06%	-47.41%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
NOV	58 Neutral	$6.73B	40.10	2.26%	3.24%	-1.43%	-63.13%

Schlumberger Corporate Events

Schlumberger Cuts Q1 Outlook Amid Middle East Disruptions

On March 11, 2026, SLB reported that it is closely monitoring escalating geopolitical tensions in the Middle East and has activated local and regional crisis response teams, prioritizing employee safety. The company has suspended travel to and through the region and begun demobilizing operations in several countries in line with customer-driven measures to protect personnel and facilities.

SLB said these protective steps will remain in force until conditions stabilize, with a phased return to full activity planned as circumstances permit. The company warned that first-quarter revenue will be lower than expected and projected an earnings impact of about $0.06 to $0.09 per diluted share, but stressed that, despite near-term disruptions, it remains confident in the resilience of its global business and its long experience managing geopolitical crises.

The most recent analyst rating on (SLB) stock is a Buy with a $60.00 price target. To see the full list of analyst forecasts on Schlumberger stock, see the SLB Stock Forecast page.

Schlumberger issues Form 8-K Regulation FD disclosure update

On January 23, 2026, SLB announced via press release that it had furnished information related to its operations and financial condition in connection with a Form 8-K filing, specifying that this information is provided for reference but will not be treated as filed under Section 18 of the Exchange Act or automatically incorporated into other securities filings. The announcement clarifies the regulatory status of the disclosed information, signaling that while SLB is making additional operational and financial details available to the market, it is doing so under a framework that limits certain legal and reporting implications for the company and its stakeholders.

The most recent analyst rating on (SLB) stock is a Buy with a $47.00 price target. To see the full list of analyst forecasts on Schlumberger stock, see the SLB Stock Forecast page.