At a glance
Schlumberger NV is worth $77.21B, about 22 times its fiscal 2025 earnings. Revenue fell 1.6% to $35.71B in fiscal 2025, with 9.4% kept as profit; over 5 years it has grown 8.6% a year. It pays a 2.27% dividend yield, raised every year for at least 4 years, and returned $10.84B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +48.6% over the past year with dividends reinvested and +12.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 64.9% in the 2020 crash (S&P 500: 33.7%) and 36.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 14 months and 3 months after the lows.
The business in plain English
SLB, the company formerly known as Schlumberger, sells the technology, equipment and services that oil and gas companies use to find, drill and produce oil and gas. Its customers are energy producers, drilling contractors and rig manufacturers in more than 100 countries. In 2025, SLB's revenue was $35.7 billion. Services brought in 59.4% of it and product sales 40.6%.
The company reports four main divisions. Production Systems is the largest, at 37.3% of 2025 revenue. It supplies pumps, valves, well completions and production chemicals, plus subsea (seafloor) equipment through its 70%-owned OneSubsea joint venture. It grew with the 2025 all-stock purchase of ChampionX. Well Construction (33.2%) provides drill bits, drilling fluids and directional drilling. Reservoir Performance (19.1%) covers well logging, which measures the rock and fluids underground, along with hydraulic fracturing and work on existing wells. Digital (7.4%) licenses software such as Petrel and the Delfi cloud platform, plus a library of seismic surveys that map rock layers underground. Smaller businesses make data center enclosures and cooling systems and offer carbon capture technology.
About 82% of 2025 revenue came from outside the United States. The Middle East was the largest region at 34.2% of revenue, followed by Europe and Africa (26.8%), North America (21%) and Latin America (17.2%).
Price history
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SLB +48.6% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Service | $21.20B | 59.4% |
| Product | $14.51B | 40.6% |
By business segment
| Production Systems | $13.32B | 37.3% |
| Well Construction | $11.86B | 33.2% |
| Reservoir Performance | $6.82B | 19.1% |
| Digital Integration | $2.66B | 7.4% |
| All Other Segments | $1.99B | 5.6% |
By geography
| Middle East | $12.22B | 34.2% |
| Europe Africa | $9.57B | 26.8% |
| North America | $7.51B | 21% |
| Latin America | $6.15B | 17.2% |
| Other Countries | $251.0M | 0.7% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $9.45B, up 5.8% from a year earlier, and net income was $735.0M (-0.5%).
- For fiscal 2025, revenue was $35.71B (-1.6% year over year; +8.6% a year from FY2020 to FY2025) with a 9.4% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +8.6% good |
|---|---|
| Free cash flow margin | 13.4% good |
| Return on equity (FY2025) | 12.9% watch |
| Return on assets (FY2025) | 6.1% watch |
| Net cash (cash minus debt) | $-7.60B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $23.60B | $-10.52B | $1.83B |
| FY2021 | $22.93B | $1.88B | $3.51B |
| FY2022 | $28.09B | $3.44B | $2.10B |
| FY2023 | $33.13B | $4.20B | $4.70B |
| FY2024 | $36.29B | $4.46B | $4.67B |
| FY2025 | $35.71B | $3.37B | $4.79B |
Valuation snapshot
| Market value | $77.21B |
|---|---|
| P/E ratio | 22.3 |
| Dividend yield | 2.27% |
Rank among 1514 US companies
Market value at each year end
Schlumberger NV’s market value went from $116.80B at the end of 2016 to $77.21B on Nov 2, 2026, down 34%; since the end of 2025 it is up 35%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $77.21B | +34.5% |
| 2025 | $57.39B | +6.9% |
| 2024 | $53.71B | -27.5% |
| 2023 | $74.07B | -2.3% |
| 2022 | $75.81B | +80.4% |
| 2021 | $42.03B | +38.3% |
| 2020 | $30.39B | -45.4% |
| 2019 | $55.66B | +11.5% |
| 2018 | $49.90B | -46.5% |
| 2017 | $93.35B | -20.1% |
| 2016 | $116.80B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| SLB price data to Nov 2, 2026 | +38.5% | +48.6% | -0.5% | +12.0% | -1.1% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +38.5% |
| 2025 | +3.3% |
| 2024 | -24.4% |
| 2023 | -0.8% |
| 2022 | +81.3% |
| 2021 | +40.4% |
| 2020 | -43.8% |
| 2019 | +17.7% |
| 2018 | -44.6% |
| 2017 | -17.4% |
| 2016 | +23.5% |
| 2015 | -16.3% |
| 2014 | -3.6% |
| 2013 | +32.1% |
| 2012 | +3.1% |
| 2011 | -17.2% |
| 2010 | +30.0% |
| 2009 | +56.2% |
| 2008 | -56.4% |
| 2007 | +57.1% |
| 2006 | +31.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 64.2% over that stretch · deepest drop along the way 67.9%, back to its old high 61.9 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 62.6% over that stretch · deepest drop along the way 64.9%, back to its old high 14 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 34.1% over that stretch · deepest drop along the way 36.8%, back to its old high 3.3 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 16 sales ($15.7M), 9 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 1, 2026 | Peuch Olivier Le Chief Executive Officer, Director | sell (plan) | $2.1M |
| May 1, 2026 | Steve Matthew Gassen EVP, Geographies | sell | $1.9M |
| May 27, 2026 | Peuch Olivier Le Chief Executive Officer, Director | sell (plan) | $1.4M |
| Apr 29, 2026 | Peuch Olivier Le Chief Executive Officer, Director | sell (plan) | $1.4M |
| Oct 27, 2026 | Peuch Olivier Le Chief Executive Officer, Director | sell (plan) | $1.3M |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.47% | Mar 31, 2026 |
| Vanguard Portfolio Management | 4.97% | Sep 30, 2026 |
| Capital World Investors | 4.2% | Mar 31, 2025 |
| T. Rowe Price Associates, Inc. | 4% | Sep 30, 2025 |
ETFs with the most weight in SLB
| IEZ iShares U.S. Oil Equipment & Services ETF | 22.57% |
| OIH VanEck Oil Services ETF | 20.18% |
| PXJ Invesco Oil & Gas Services ETF | 5.2% |
| XES SPDR S&P Oil & Gas Equipment & Services ETF | 4.67% |
| RSPG Invesco S&P 500 Equal Weight Energy ETF | 4.27% |
| WEEI Westwood Salient Enhanced Energy Income ETF | 3.99% |
| XLE Energy Select Sector SPDR Fund | 3.77% |
| FTXN First Trust Nasdaq Oil & Gas ETF | 3.73% |
What could go wrong
- ChampionX deal may fall short. SLB issued 141 million shares, worth $4.9 billion, to buy ChampionX. If combining the companies goes poorly or the expected benefits don't appear, existing owners hold a smaller slice without the hoped-for gains.
- Heavy exposure to markets outside the US. About 82% of 2025 revenue came from outside the United States. War, sanctions, unrest, asset seizures or punitive taxes in any of these countries could disrupt operations or shut SLB out of markets.
- Customer spending rises and falls with oil. SLB's sales depend on how much customers spend on exploring for and producing oil and gas, and that spending follows energy prices. Past downturns cut demand, pushed down SLB's prices and delayed customer payments.
- Climate rules could shrink demand. Laws, court orders or other efforts to limit greenhouse gas emissions could reduce demand for SLB's products. The company also warns that failing to keep pace with the shift to lower-carbon energy could hurt results.
- Rivals could erode its technology lead. SLB works in a highly competitive industry and relies on its technology lead and intellectual property. If competitors catch up or SLB cannot protect its trade secrets, it could lose revenue and its edge.
- Well accidents and environmental liabilities. A well incident can lead to large liability claims, and environmental laws can bring heavy compliance costs and liabilities. Either could damage SLB's reputation, profits and cash flow.
Recent events
- Quarterly results released; Investor presentation or announcement
- Executive or board change
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
- Other company announcement
- Quarterly results released; Investor presentation or announcement
- Shareholder vote results
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
SLB pays a dividend but has cut it before. Dividends per share fell from about $1.25 in 2020 to $0.49 in 2021. SLB has raised the dividend four years in a row since then, reaching $1.11 in 2025. That payout used 47.5% of earnings and 33.4% of free cash flow (the cash left after capital spending). The yield was 2.21% as of October 28, 2026. SLB spent $4.8 billion on buybacks from 2021 through 2025. Even so, the share count rose 5.2% between the end of 2021 and September 30, 2026, mainly because of the shares issued to buy ChampionX.
The shares have fallen hard in downturns. They dropped 67.9% in the 2008 financial crisis and took about 62 months to recover. They fell 64.9% in the 2020 COVID crash and recovered in 14 months. During the 2022 bear market, SLB rose 34.1% between the market's peak and its low, despite a 36.8% drop between June and July. As a single stock, SLB carries more risk than a diversified fund.
Questions investors ask
How does SLB make money?
SLB makes money by selling technology, equipment and services to oil and gas companies. Revenue was $35.7 billion in 2025, with 59.4% from services and 40.6% from products. Production Systems (pumps, valves, completions, subsea equipment and chemicals) brought in 37.3%. Well Construction (drill bits, drilling fluids and directional drilling) brought in 33.2%. Reservoir Performance (well logging, fracturing and well intervention) added 19.1%, and Digital (software such as Petrel and Delfi, plus seismic data) added 7.4%. Net income was $3.4 billion, a 9.4% net margin.
Is SLB the same company as Schlumberger?
Yes. SLB is the company formerly known as Schlumberger, and its past registered names include Schlumberger Limited. Its shares trade on the New York Stock Exchange under the ticker SLB. The company works in more than 100 countries, and about 82% of its 2025 revenue came from outside the United States. The Middle East was its largest region at 34.2% of revenue, followed by Europe and Africa at 26.8%.
Does SLB raise its dividend every year?
No. SLB has raised its dividend four years in a row, but it cut the payout before that streak began. Dividends per share fell from about $1.25 in 2020 to $0.49 in 2021, then climbed back to $1.11 in 2025. Because of the cut, dividends per share shrank by an average of 2.2% a year from 2020 to 2025. The 2025 dividend used 47.5% of earnings, and the yield was 2.21% as of October 28, 2026.
Why did SLB buy ChampionX?
SLB says the deal strengthens its position in getting oil and gas out of the ground and recovering more of it. SLB bought ChampionX during 2025 in an all-stock deal, issuing 141 million new shares valued at $4.9 billion. ChampionX makes production chemicals, artificial lift systems (pumps that help bring oil to the surface when natural pressure is too weak) and highly engineered equipment. This work is the focus of Production Systems, SLB's largest division at 37.3% of 2025 revenue. SLB lists the risk that the deal won't deliver its expected benefits.
How much do oil prices affect SLB?
A great deal. SLB's sales depend on how much oil and gas companies spend on exploration and production, and that spending follows oil and gas prices. In 2020, SLB reported a net loss of $10.5 billion, and its shares fell 64.9% in the COVID crash. Revenue later rebounded to $35.7 billion in 2025, which was down 1.6% from 2024. In the quarter ended September 30, 2026, revenue rose 5.8% from a year earlier to $9.4 billion.