SLB LIMITED/NVSLB

SLB LIMITED/NV Financial Overview 2021–2025

Updated Jul 10, 2026

Despite severe Middle East geopolitical disruptions shrinking core organic revenue by 7% in Q1 2026, SLB generated a massive $4.1 billion in free cash flow during FY2025. This divergence highlights the company's central investment thesis: SLB has successfully transformed from a volume-dependent oilfield servicer into a resilient, cash-generating engine insulated by high-margin production systems and rapidly scaling digital divisions.

The top line demonstrates the success of this multi-year pivot. Revenue grew from $22.9 billion in FY2021 to $35.7 billion in FY2025, anchored by a sustained international upcycle and targeted M&A. SLB completed its $4.9 billion all-stock acquisition of ChampionX in the third quarter of FY2025, a move that immediately drove a 23% revenue surge in the Production Systems division by Q1 2026. While traditional well construction faced regional headwinds, the company’s Data Center Solutions segment erupted with 121% year-over-year growth in FY2025. This operational discipline enabled aggressive capital returns, with SLB distributing $4.0 billion to shareholders through dividends and accelerated share repurchases in FY2025.

By the end of FY2025, the market digested both the strategic expansion and the regional volatility, valuing SLB at a $57.4 billion market cap. At the close of FY2025, the stock traded at $38.38, representing a 16.3x price-to-earnings multiple on $2.35 in earnings per share.

Recent Developments (Q4 2025 and Q1 2026)

SLB navigated severe regional volatility in Q1 2026 by temporarily demobilizing operations and suspending transit across the Middle East, an action that dragged net income down to $752 million, or $0.50 per share, from $797 million in the prior year. Despite these localized hurdles, total consolidated revenue reached $8.72 billion for a 3% year-over-year gain.

To optimize its capital structure amid this uncertainty, SLB issued $2.0 billion in senior notes in May 2026. First-quarter operating cash flow dipped to $487 million from $660 million, leading the company to moderate share repurchases to $451 million. Bulls highlight that global revenue resilience and sustained shareholder returns demonstrate a highly durable operating model. Bears will counter that trading at 23.7x earnings as of April 29, 2026, the stock prices in a flawless recovery and leaves minimal margin for error.

What to watch: strategic targets outlined at the June 2026 Digital Investors Day; operational timelines for redeploying demobilized Middle East assets.

Rev

$35.71B

-1.6% YoY

FY2025

NI

$3.37B

-24.4% YoY

FY2025

EPS

$2.38

-24.2% YoY

FY2025

OCF

$6.49B

-1.7% YoY

FY2025

Revenue Trend
Beta

Year-over-year comparison from 10-K annual reports

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Data from SEC Company Facts

All SLB Financial Metrics(58)

Recent SEC Filings

SLB LIMITED/NV 8-K Report, Regulation FD Disclosure (Aug 31, 2026)

SLB Limited (SLB) has announced a significant strategic move with the signing of an agreement to acquire Kelvion, a prominent global provider of thermal management and heat exchange technologies. This acquisition is valued at approximately $3.4 billion in cash, with SLB also assuming about $0.7 billion in debt, bringing the total transaction value to around $4.1 billion. The acquisition is expected to enhance SLB's portfolio by adding Kelvion's specialized expertise in critical industrial sectors. This transaction represents a substantial investment for SLB and signals a strong outlook on the future growth potential of the thermal management and heat exchange market. Investors should monitor the integration process, the realization of expected synergies, and the impact on SLB's financial leverage and future cash flows. The company has cautioned that the transaction is subject to customary closing conditions, including regulatory approvals, and has included a standard cautionary statement regarding forward-looking statements.

SLB LIMITED/NV 8-K Report, Financial Results (Jul 24, 2026)

SLB LIMITED/NV (SLB) has filed an 8-K report on July 24, 2026, primarily to furnish its Second-Quarter 2026 Earnings Release as an exhibit. This release, available on the company's website and incorporated by reference into the filing, provides investors with key financial and operational results for the second quarter of 2026. The filing itself does not contain new "filed" information under SEC regulations but directs readers to the earnings release for detailed performance metrics and management commentary. Investors should refer to the furnished Exhibit 99, the Second-Quarter 2026 Earnings Release, for comprehensive insights into SLB's financial condition and operational results. This document will contain the specific figures, trends, and forward-looking statements that are crucial for assessing the company's performance and outlook. The 8-K filing serves as the official notification and access point for this important investor information.

SLB LIMITED/NV 8-K Report, Regulation FD Disclosure (Jun 10, 2026)

SLB announced on June 10, 2026, that it will be hosting its 2026 Digital Investors Day on June 17, 2026, in New York City. This event will feature presentations from executive management, including CEO Olivier Le Peuch and CFO Stephane Biguet, offering insights into the company's strategic direction and performance outlook. The discussions are expected to cover a wide range of topics pertinent to investors, including business outlook, growth prospects across its divisions, the integration and synergies of the recent ChampionX acquisition, and evolving energy market dynamics. Investors should note that the information presented at the Investors Day, and referenced in this filing, will contain forward-looking statements subject to various risks and uncertainties. These statements may address future financial targets, operational expectations, capital allocation plans, and the company's position amidst global energy transition and geopolitical events. While providing a glimpse into SLB's future strategies and ambitions, investors are advised to review the full cautionary statement and the company's SEC filings for a comprehensive understanding of potential risks and uncertainties.

SLB LIMITED/NV 8-K Report, Corporate Update (May 12, 2026)

SLB Limited/NV (SLB) has filed an 8-K report detailing a significant debt issuance by its subsidiary, Schlumberger Investment S.A. The company successfully raised a total of $2.0 billion through the sale of senior notes. This issuance includes $500 million in 4.550% notes due 2031, $500 million in 4.800% notes due 2033, and $1.0 billion in 5.150% notes due 2036. These notes are fully and unconditionally guaranteed by the parent company, SLB Limited, providing an additional layer of security for investors. The debt was issued under a previously filed registration statement and was facilitated through an underwriting agreement with major financial institutions, including J.P. Morgan Securities LLC, HSBC Securities (USA) Inc., and Standard Chartered Bank. The issuance, which occurred on May 7, 2026, underpins SLB's ongoing financial strategy and its ability to access capital markets for its operational and strategic needs. Investors should note the specific coupon rates and maturity dates for each tranche of notes.

SLB LIMITED/NV 8-K Report, Financial Results (Apr 24, 2026)

SLB LIMITED/NV (SLB) has filed an 8-K report on April 24, 2026, primarily to furnish its First-Quarter 2026 Earnings Release. This release, incorporated by reference into Items 2.02 and 7.01 of the filing, provides details on the company's operational and financial performance for the first quarter of 2026. Investors should note that while this information is being disclosed, it is furnished under specific SEC guidelines and is not deemed 'filed' for purposes of Section 18 of the Exchange Act or incorporated into other securities filings unless expressly stated. The furnished earnings release is the primary source of information for this 8-K. Investors seeking a detailed understanding of SLB's Q1 2026 results, including revenue, profitability, segment performance, and forward-looking guidance, should refer directly to the content of the earnings release itself, which is available on the company's website and included as an exhibit with this filing.

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