SLB LIMITED/NVSLB
SLB LIMITED/NV Financial Overview 2021–2025
Updated Jul 10, 2026Despite 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
FY2025
NI
$3.37B
FY2025
EPS
$2.38
FY2025
OCF
$6.49B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
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.
SLB LIMITED/NV 8-K Report, Shareholder Vote Results (Apr 8, 2026)
SLB Limited/NV (SLB) filed an 8-K report on April 8, 2026, detailing the outcomes of its 2026 Annual General Meeting of Shareholders held on the same date. The meeting saw overwhelming shareholder support for all presented proposals, indicating strong alignment between management and the shareholder base. Key resolutions included the election of all nine director nominees, advisory approval of executive compensation, ratification of the company's 2025 financial statements and dividend declarations, ratification of PricewaterhouseCoopers LLP as the independent auditor for 2026, and approval of amendments to the 2017 SLB Omnibus Stock Incentive Plan. Of particular note, the executive compensation received strong advisory approval with approximately 95.2% of votes cast in favor. The financial statements and 2025 dividend declarations were approved with an exceptional 99.8% of votes cast. The appointment of the independent auditor and the stock incentive plan amendments also garnered significant approval rates of 92.8% and 97.6%, respectively. This broad shareholder endorsement across all agenda items suggests confidence in SLB's governance, financial reporting, and long-term incentive structures.
SLB LIMITED/NV 8-K Report, Regulation FD Disclosure (Mar 11, 2026)
SLB LIMITED/NV (SLB) has issued a Form 8-K on March 11, 2026, to disclose an update on its Middle East operations and its first-quarter financial outlook. The company is actively responding to the unfolding geopolitical situation in the region by prioritizing employee safety, suspending travel, and demobilizing operations in certain countries. These measures are temporary and will be phased out as conditions stabilize, with SLB working closely with local authorities and customers. As a result of these disruptions, SLB anticipates a reduction in its first-quarter revenue and expects additional costs that will negatively impact earnings per diluted share by approximately 6-9 cents. Despite these near-term challenges, SLB reiterates its confidence in the underlying resilience of its global business, drawing on its extensive experience navigating geopolitical crises over its 100-year history. The company remains focused on serving its global customer base.
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