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Schlumberger
(NYSE:SLB)
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Rating:70Outperform
Price Target:
$50.00
â–¼(-5.05% Downside)
Action:Reiterated
Date:05/13/26
SLB’s score is driven primarily by solid underlying financial strength (improved leverage and healthy profitability) and supportive technical trends. The main constraints are a relatively high P/E and near-term uncertainty from Middle East disruption pressuring margins and cash flow, partially offset by strong Digital momentum and continued shareholder-return commitments.
Positive Factors
Improved balance sheet resilience
SLB's meaningful deleveraging and stronger equity base increase financial flexibility over the medium term. A sturdier balance sheet supports sustained capex, strategic M&A integration (ChampionX), and continued buybacks while reducing refinancing risk during cyclical downturns.
Negative Factors
Geopolitical concentration risk
Heavy operational exposure to Middle East activity creates structural revenue and execution risk. Prolonged regional disruptions can suspend contracts, delay projects and constrain supply chains, producing recurring volatility in utilization, revenue realization and margin stability across reporting periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved balance sheet resilience
SLB's meaningful deleveraging and stronger equity base increase financial flexibility over the medium term. A sturdier balance sheet supports sustained capex, strategic M&A integration (ChampionX), and continued buybacks while reducing refinancing risk during cyclical downturns.
Read all positive factors
Schlumberger Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where Schlumberger is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where Schlumberger is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlySchlumberger (SLB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$68.35B
Dividend Yield2.98%
Average Volume (3M)15.97M
Price to Earnings (P/E)20.2
Beta (1Y)0.64
Revenue Growth-0.53%
EPS Growth-22.59%
CountryUS
Employees109,000
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)2.30
Shares Outstanding1,495,057,600
10 Day Avg. Volume20,733,635
30 Day Avg. Volume15,965,787
Financial Highlights & Ratios
PEG Ratio-0.67
Price to Book (P/B)2.16
Price to Sales (P/S)1.58
P/FCF Ratio11.77
Enterprise Value/Market Cap1.23
Enterprise Value/Revenue2.34
Enterprise Value/Gross Profit13.49
Enterprise Value/Ebitda11.43
Forecast
1Y Price Target
$62.44Price Target Upside18.57% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering17
EPS Forecast (FY)2.56
Revenue Forecast (FY)$36.42B
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 dev...
How the Company Makes Money
SLB makes money primarily by selling technology, services, and equipment used to plan, drill, complete, and produce oil and gas wells, and by supporting ongoing field operations with production and reservoir solutions. Its revenue model is largely...
Schlumberger Earnings Call Summary
Earnings Call Date:Apr 24, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 24, 2026
Earnings Call Sentiment Neutral
The call described a quarter materially impacted by geopolitical disruption that reduced revenue and margins, increased costs, and raised short-term cash and debt pressures. At the same time, management highlighted clear strategic progress—ChampionX accretion, strong Digital ARR growth, rapid data center expansion (including an NVIDIA partnership), OneSubsea backlog growth and continued shareholder returns—positioning the company for recovery and growth into 2027–2028. Near-term performance is constrained by the Middle East situation, but medium- to long-term prospects and strategic initiatives provide offsetting upside.Positive Updates
Company-wide Revenue Growth (Including ChampionX)
First quarter global revenue was $8.7 billion, up 3% year-over-year, driven in part by the ChampionX acquisition.
Negative Updates
Middle East Conflict Disruption
Severe disruption in the Middle East led to operational shutdowns, force majeure in Qatar, suspension of offshore operations in Iraq, export capacity disruptions and production shut-ins that materially impacted Q1 revenue and earnings.
Read all updates
Q1-2026 Updates
Positive
Negative
Company-wide Revenue Growth (Including ChampionX)
First quarter global revenue was $8.7 billion, up 3% year-over-year, driven in part by the ChampionX acquisition.
Read all positive updates
Company Guidance
The company’s forward guidance rested on a scenario where Middle East disruption eases mid-Q2, in which case SLB expects the $0.06–$0.08 incremental Q2 EPS headwind from lost revenue and higher logistics/procurement costs to be fully offset by the rest of international markets (mid‑ to high‑single‑digit revenue growth) with North America roughly flat sequentially; by division, Digital and Production Systems should grow globally while Reservoir Performance and Well Construction decline. Management reaffirmed digital targets (Q1 Digital revenue $640M, ARR $1.02B up 15% YoY) and expects full‑year Digital adjusted EBITDA margin of at least 35%, data centers to exit 2026 at a ~$1.0B run‑rate with acceleration in 2027, and OneSubsea margins to recover through the year as backlog (up ~5% YoY) drives awards; they reiterated 2026 capital investments of ~ $2.5B, minimum share repurchases of $2.4B (part of a >$4B targeted shareholder return), and a cash‑flow profile that is seasonally weighted to the back half after Q1 net debt of $8.2B and negative free cash flow of $23M.Schlumberger Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
79
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 35.94B | 35.71B | 36.29B | 33.13B | 28.09B | 22.93B |
| Gross Profit | 6.23B | 6.50B | 7.46B | 6.56B | 5.16B | 3.66B |
| EBITDA | 7.36B | 7.15B | 8.07B | 7.54B | 6.43B | 4.62B |
| Net Income | 3.31B | 3.35B | 4.46B | 4.20B | 3.44B | 1.88B |
Balance Sheet | ||||||
| Total Assets | 54.53B | 54.87B | 48.94B | 47.96B | 43.13B | 41.51B |
| Cash, Cash Equivalents and Short-Term Investments | 3.39B | 4.21B | 4.67B | 3.99B | 2.89B | 3.14B |
| Total Debt | 11.61B | 12.31B | 12.07B | 11.96B | 12.23B | 14.20B |
| Total Liabilities | 27.17B | 27.58B | 26.59B | 26.60B | 25.15B | 26.23B |
| Stockholders Equity | 26.18B | 26.11B | 21.13B | 20.19B | 17.68B | 15.00B |
Cash Flow | ||||||
| Free Cash Flow | 4.68B | 4.79B | 4.47B | 4.54B | 2.00B | 3.47B |
| Operating Cash Flow | 6.32B | 6.49B | 6.60B | 6.64B | 3.72B | 4.65B |
| Investing Cash Flow | -947.00M | -1.41B | -3.15B | -2.78B | -1.39B | -919.00M |
| Financing Cash Flow | -5.50B | -5.64B | -2.77B | -2.51B | -2.38B | -2.82B |
Schlumberger Technical Analysis
Neutral
52.66
Price Trends
53.34
Negative
51.64
Negative
45.09
Positive
Market Momentum
-2.45
Positive
33.85
Neutral
35.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SLB, the sentiment is Neutral. The current price of 52.66 is above the 20-day moving average (MA) of 49.86, below the 50-day MA of 53.34, and above the 200-day MA of 45.09, indicating a neutral trend. The MACD of -2.45 indicates Positive momentum. The RSI at 33.85 is Neutral, neither overbought nor oversold. The STOCH value of 35.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SLB.
Schlumberger Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $28.92B | 14.15 | 11.65% | 4.43% | 1.69% | 16.35% | |
74 Outperform | $26.82B | 25.61 | 32.54% | 0.44% | 9.44% | 36.97% | |
72 Outperform | $52.83B | 17.24 | 16.84% | 2.04% | 0.20% | 6.96% | |
70 Outperform | $68.35B | 20.18 | 13.46% | 2.98% | -0.53% | -22.59% | |
68 Neutral | $27.57B | 18.55 | 14.67% | 2.41% | -1.72% | -23.60% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
58 Neutral | $6.38B | 76.17 | 1.45% | 3.24% | -1.33% | -84.10% |
* Energy Sector Average
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Schlumberger Corporate Events
Business Operations and StrategyFinancial Disclosures
SLB Schedules 2026 Digital Investors Day in New York
Neutral
Jun 10, 2026
On June 10, 2026, SLB announced it will host its 2026 Digital Investors Day in New York on June 17, 2026, with presentations from chief executive officer Olivier Le Peuch and chief financial officer Stephane Biguet made available through the compa...
Private Placements and Financing
Schlumberger Issues $2 Billion in New Senior Notes
Positive
May 12, 2026
On May 7, 2026, Schlumberger Investment S.A. issued a total of $2 billion in senior unsecured notes, comprising $500 million of 4.550% notes due 2031, $500 million of 4.800% notes due 2033 and $1 billion of 5.150% notes due 2036. The notes, fully ...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Schlumberger Highlights Regulatory Approach in Latest 8-K Disclosure
Neutral
Apr 24, 2026
On April 24, 2026, SLB announced via press release that it had furnished information to investors through a Form 8-K filing, specifying that the disclosed material is provided under Item 7.01. The company emphasized that, under securities regulati...
DividendsFinancial DisclosuresShareholder Meetings
SLB Shareholders Strongly Support 2026 Annual Meeting Proposals
Positive
Apr 8, 2026
SLB Limited held its 2026 Annual General Meeting of Shareholders on April 8, 2026, where investors backed all nine director nominees and gave strong support to the company’s executive pay program, with about 95.2% of votes cast in favor. Sha...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.