Latest Ratios: P/E Ratio 19.5x · EV/EBITDA 10.5x · ROE 13.5%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $68.4B | $57.1B | $55.1B | $75.1B | $76.8B | $42.7B | $30.3B | $55.7B | $50.3B | $93.5B | $113.9B |
| Enterprise Value | $77.6B | $66.4B | $63.6B | $84.2B | $87.4B | $55.2B | $46.4B | $69.8B | $64.9B | $109.9B | $130.6B |
| P/E Ratio → | 19.46 | 16.33 | 12.33 | 17.88 | 22.37 | 22.69 | — | — | 23.58 | — | — |
| P/S Ratio | 1.91 | 1.60 | 1.52 | 2.27 | 2.73 | 1.86 | 1.29 | 1.69 | 1.53 | 3.07 | 4.10 |
| P/B Ratio | 2.49 | 2.09 | 2.46 | 3.52 | 4.27 | 2.80 | 2.43 | 2.30 | 1.37 | 2.51 | 2.74 |
| P/FCF | 14.26 | 11.91 | 12.31 | 16.52 | 38.32 | 12.31 | 17.57 | 16.02 | 14.56 | 28.52 | 31.86 |
| P/OCF | 10.53 | 8.80 | 8.34 | 11.31 | 20.65 | 9.19 | 10.31 | 10.25 | 8.80 | 16.52 | 18.20 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.86 | 1.75 | 2.54 | 3.11 | 2.41 | 1.97 | 2.12 | 1.98 | 3.61 | 4.70 |
| EV / EBITDA | 10.54 | 9.01 | 7.74 | 11.60 | 15.02 | 12.35 | 12.79 | 22.59 | 9.62 | 16.87 | 20.47 |
| EV / EBIT | 14.23 | 12.68 | 10.28 | 14.55 | 18.36 | 18.94 | — | — | 20.28 | — | — |
| EV / FCF | — | 13.84 | 14.22 | 18.52 | 43.59 | 15.90 | 26.86 | 20.09 | 18.79 | 33.52 | 36.52 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.2% | 18.2% | 20.6% | 19.8% | 18.4% | 16.0% | 11.0% | 12.8% | 13.2% | 12.8% | 13.3% |
| Operating Margin | 15.3% | 15.3% | 17.4% | 16.6% | 14.8% | 12.1% | 7.0% | -1.5% | 9.7% | 8.8% | 8.2% |
| Net Profit Margin | 9.4% | 9.4% | 12.3% | 12.7% | 12.2% | 8.2% | -44.4% | -30.7% | 6.5% | -4.9% | -6.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.5% | 13.5% | 20.4% | 21.4% | 20.7% | 13.5% | -57.2% | -33.3% | 5.8% | -3.8% | -4.4% |
| ROA | 6.5% | 6.5% | 9.2% | 9.2% | 8.1% | 4.5% | -21.2% | -15.9% | 3.0% | -2.0% | -2.3% |
| ROIC | 12.1% | 12.1% | 15.5% | 14.0% | 11.1% | 7.4% | 3.7% | -0.8% | 4.6% | 3.6% | 3.1% |
| ROCE | 14.3% | 14.3% | 17.9% | 16.7% | 13.3% | 8.8% | 4.4% | -1.0% | 5.6% | 4.5% | 3.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.45 | 0.45 | 0.54 | 0.56 | 0.68 | 0.93 | 1.35 | 0.63 | 0.44 | 0.49 | 0.47 |
| Debt / EBITDA | 1.67 | 1.67 | 1.47 | 1.65 | 2.10 | 3.18 | 4.66 | 4.95 | 2.38 | 2.79 | 3.08 |
| Net Debt / Equity | — | 0.34 | 0.38 | 0.42 | 0.59 | 0.81 | 1.28 | 0.59 | 0.40 | 0.44 | 0.40 |
| Net Debt / EBITDA | 1.26 | 1.26 | 1.04 | 1.25 | 1.82 | 2.78 | 4.42 | 4.58 | 2.17 | 2.52 | 2.62 |
| Debt / FCF | — | 1.93 | 1.91 | 1.99 | 5.27 | 3.58 | 9.29 | 4.07 | 4.23 | 5.00 | 4.67 |
| Interest Coverage | 9.40 | 9.40 | 12.08 | 11.50 | 9.72 | 5.40 | -19.07 | -16.16 | 5.56 | -1.09 | -2.34 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.33 | 1.33 | 1.45 | 1.32 | 1.25 | 1.22 | 1.23 | 1.19 | 1.17 | 1.21 | 1.59 |
| Quick Ratio | 0.98 | 0.98 | 1.11 | 1.00 | 0.92 | 0.91 | 0.91 | 0.87 | 0.87 | 0.95 | 1.31 |
| Cash Ratio | 0.29 | 0.29 | 0.36 | 0.30 | 0.24 | 0.30 | 0.29 | 0.17 | 0.21 | 0.33 | 0.61 |
| Asset Turnover | — | 0.65 | 0.74 | 0.69 | 0.65 | 0.55 | 0.56 | 0.58 | 0.47 | 0.42 | 0.36 |
| Inventory Turnover | 5.80 | 5.80 | 6.59 | 6.06 | 5.73 | 5.89 | 6.26 | 6.95 | 7.10 | 6.56 | 5.71 |
| Days Sales Outstanding | — | 88.81 | 80.58 | 86.05 | 87.91 | 84.61 | 81.15 | 85.90 | 87.66 | 96.93 | 123.20 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.4% | 2.8% | 2.8% | 1.8% | 1.1% | 1.6% | 5.7% | 5.0% | 5.5% | 3.0% | 2.3% |
| Payout Ratio | 47.8% | 47.8% | 34.4% | 31.3% | 24.6% | 37.2% | — | — | 129.6% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.1% | 6.1% | 8.1% | 5.6% | 4.5% | 4.4% | — | — | 4.2% | — | — |
| FCF Yield | 7.0% | 8.4% | 8.1% | 6.1% | 2.6% | 8.1% | 5.7% | 6.2% | 6.9% | 3.5% | 3.1% |
| Buyback Yield | 3.5% | 4.2% | 3.2% | 0.9% | 0.0% | 0.0% | 0.1% | 0.5% | 0.8% | 1.0% | 0.7% |
| Total Shareholder Yield | 5.9% | 7.0% | 5.9% | 2.7% | 1.1% | 1.6% | 5.8% | 5.5% | 6.3% | 4.0% | 3.0% |
| Shares Outstanding | — | $1.5B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B |
Cyclical margin compression
According to current market data, SLB trades at a 20.00x TTM P/E, which appears elevated given the recent revenue contraction and the 18.14x forward P/E, suggesting that investors are pricing in a recovery that may be disconnected from the company's current operational trajectory and cyclical headwinds.
The current valuation premium relative to peers like Halliburton reflects the market's historical confidence in SLB's international dominance and digital integration strategy. However, with revenue growth stalling, this multiple may be vulnerable to downward revision if the company fails to demonstrate a clear path back to double-digit earnings expansion.
Based on reported financial statements, SLB's ROIC has trended downward from 4.0% in 2024Q4 to 2.2% in 2026Q1, indicating that the company is struggling to generate adequate returns on its expanding asset base compared to its historical performance and more efficient industry peers.
The persistent decline in ROIC suggests that the capital deployed into new projects and acquisitions is not yet yielding the expected margin improvements. This trend warrants further investigation into whether the company's 'New Energy' investments are diluting overall returns or if core oilfield service operations are facing structural cost inflation.
As reported in recent filings, SLB's asset turnover has remained stagnant at approximately 0.16 to 0.19 over the last ten quarters, while the cash conversion cycle has shown significant instability, peaking at 53 days in 2025Q1 before settling at 16 days in 2026Q1.
The erratic nature of the cash conversion cycle suggests that SLB is facing challenges in managing its receivables and payables in a volatile international environment. This lack of efficiency in working capital management likely contributes to the observed volatility in free cash flow, complicating the company's ability to fund operations internally.
According to the latest balance sheet data, SLB's current ratio has compressed from 1.49 in 2024Q2 to 1.34 in 2026Q1, indicating that the company's short-term liquidity position is becoming less robust as it navigates a period of slowing revenue and margin contraction.
While a current ratio of 1.34 remains adequate for an industrial firm, the downward trend suggests that the company is consuming liquidity faster than it is replenishing it through operations. Investors should monitor whether this tightening forces a change in the current capital allocation strategy, particularly regarding dividend sustainability.
Based on an analysis of SLB's business model, the P/E ratio is frequently misapplied by market participants who fail to account for the company's heavy reliance on percentage-of-completion accounting and the lumpy nature of its Asset Performance Solutions segment, which can distort reported net income.
Analysts should instead prioritize EV/EBITDA or P/FCF to better capture the underlying cash-generating capacity of the business, as these metrics are less susceptible to the non-cash accounting adjustments that often inflate earnings. Relying solely on P/E risks ignoring the significant disconnect between reported profits and actual cash availability.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SLB stock.
SLB N.V.'s current P/E ratio is 19.5x. The historical average is 29.4x. This places it at the 28th percentile of its historical range.
SLB N.V.'s current EV/EBITDA is 10.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.6x.
SLB N.V.'s return on equity (ROE) is 13.5%. The historical average is 10.3%.
Based on historical data, SLB N.V. is trading at a P/E of 19.5x. This is at the 28th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
SLB N.V.'s current dividend yield is 2.35% with a payout ratio of 47.8%.
SLB N.V. has 18.2% gross margin and 15.3% operating margin. Operating margin between 10-20% is typical for established companies.
SLB N.V.'s Debt/EBITDA ratio is 1.7x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.