Slb N.V. (SLB) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-2.0%

$51.79

vs $52.86 price

Levered DCF

$47.79

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.15

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	16.13×	12.21×	17.64×	22×	22.35×	-2.9×	-5.51×	23.43×
P/B	2.16×	2.58×	3.67×	4.28×	2.79×	2.51×	2.34×	1.38×
P/S	1.58×	1.5×	2.24×	2.69×	1.83×	1.29×	1.69×	1.52×
EV / EBITDA	8.95×	7.81×	11.03×	13.42×	10.8×	-5.31×	-11.16×	9.57×
Gross margin	18.2%	20.6%	19.8%	18.4%	16.0%	11.0%	12.8%	13.2%
Operating margin	15.3%	17.4%	16.6%	14.8%	12.1%	7.0%	-1.5%	9.7%
Net margin	9.4%	12.3%	12.7%	12.2%	8.2%	-44.4%	-30.7%	6.5%
Current ratio	1.33×	1.45×	1.32×	1.25×	1.22×	1.23×	1.19×	1.17×
Debt / equity	0.47×	0.57×	0.59×	0.69×	0.95×	1.4×	0.64×	0.44×
Interest coverage	9.8×	12.36×	10.93×	8.47×	5.13×	2.94×	-0.82×	5.55×
Dividend yield	2.8%	2.8%	1.8%	1.1%	1.7%	5.7%	5.0%	5.5%
Payout ratio	47.8%	34.4%	31.3%	24.6%	37.2%	-16.5%	-27.4%	129.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.8%	21.1%	20.8%	19.5%	12.5%	-86.9%	-42.5%	5.9%
Return on invested capital	10.3%	13.7%	12.5%	10.4%	7.0%	4.7%	-1.1%	4.5%
Return on assets	6.1%	9.1%	8.8%	8.0%	4.5%	-24.7%	-17.9%	3.0%
Free cash flow yield	8.0%	8.2%	6.1%	2.6%	8.3%	5.7%	6.2%	6.9%
Earnings yield	5.9%	8.2%	5.7%	4.5%	4.5%	-34.6%	-18.2%	4.3%
Enterprise value	$65.7B	$63B	$83.2B	$86.3B	$54.4B	$46.4B	$69.8B	$64.6B
Net debt / EBITDA	1.26×	1.06×	1.2×	1.64×	2.47×	-1.84×	-2.26×	2.17×
Cash conversion cycle (days)	91	82	83	89	86	88	78	79