Core Laboratories N.V. (CLB) 10-Year Financial Performance & Capital Metrics

CLB • • Industrial / General

EnergyOilfield ServicesSeismic & Reservoir ServicesReservoir Analysis

AboutCore Laboratories N.V. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, reservoir fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs. It offers laboratory-based analytical and field services to characterize properties of crude oil and oil delivered products; and proprietary and joint industry studies. The Production Enhancement segment provides services and products relating to reservoir well completions, perforations, stimulations, and production. It offers integrated diagnostic services to evaluate and monitor the effectiveness of well completions and to develop solutions to improve the effectiveness of enhanced oil recovery projects. In addition, the company markets and sells its products through a combination of sales representatives, technical seminars, trade shows, and print advertising, as well as through distributors. It operates approximately in 50 countries. The company was founded in 1936 and is based in Amstelveen, the Netherlands.Show more

Revenue $524M +2.8%
EBITDA $74M +4.4%
Net Income $31M -14.4%
EPS (Diluted) 0.66 -14.3%
Gross Margin 16.87% -8.6%
EBITDA Margin 14.03% +1.6%
Operating Margin 11.18% +4.3%
Net Margin 5.99% -16.7%
ROE 12.88% -26.5%
ROIC 10.35% +4.3%
Debt/Equity 0.70 -25.4%
Interest Coverage 4.73 +16.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 84 (top 16%)
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Profits declining 21.0% over 5 years
✗Thin 5Y average net margin of 0.3%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-7.02%

5Y-4.75%

3Y3.66%

TTM-1.02%

Profit (Net Income) CAGR

10Y-18.98%

5Y-20.99%

3Y16.76%

TTM22.63%

EPS CAGR

10Y-19.49%

5Y-20.66%

3Y16.26%

TTM21.38%

ROCE

10Y Avg13.88%

5Y Avg5.51%

3Y Avg10.55%

Latest11.82%

Peer Comparison

Reservoir Analysis

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CLBCore Laboratories N.V.	913.57M	19.62	29.73	2.76%	6.21%	11.58%	4.75%	0.70

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	797.52M	594.74M	659.81M	700.85M	668.21M	487.27M	470.25M	489.74M	509.79M	523.85M
Revenue Growth %	-0.27%	-0.25%	0.11%	0.06%	-0.05%	-0.27%	-0.03%	0.04%	0.04%	0.03%
Cost of Goods Sold+	560.11M	469.52M	499.18M	520.05M	495.58M	385.14M	386.41M	410.82M	415.74M	435.48M
COGS % of Revenue	0.7%	0.79%	0.76%	0.74%	0.74%	0.79%	0.82%	0.84%	0.82%	0.83%
Gross Profit+	237.41M	125.22M	160.63M	180.79M	172.63M	102.13M	83.84M	78.92M	94.05M	88.37M
Gross Margin %	0.3%	0.21%	0.24%	0.26%	0.26%	0.21%	0.18%	0.16%	0.18%	0.17%
Gross Profit Growth %	-0.4%	-0.47%	0.28%	0.13%	-0.05%	-0.41%	-0.18%	-0.06%	0.19%	-0.06%
Operating Expenses+	49.73M	39.39M	47.74M	62.91M	75.95M	178.93M	38.58M	37.4M	39.41M	29.82M
OpEx % of Revenue	0.06%	0.07%	0.07%	0.09%	0.11%	0.37%	0.08%	0.08%	0.08%	0.06%
Selling, General & Admin	49.73M	39.39M	47.74M	62.91M	46.52M	32.53M	44.17M	38.12M	38.89M	38.59M
SG&A % of Revenue	0.06%	0.07%	0.07%	0.09%	0.07%	0.07%	0.09%	0.08%	0.08%	0.07%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	344K	-452K	0	29.43M	146.4M	-5.59M	-722K	515K	-8.78M
Operating Income+	161.07M	86.18M	112.44M	118.62M	96.68M	-76.81M	45.26M	41.52M	54.64M	58.56M
Operating Margin %	0.2%	0.14%	0.17%	0.17%	0.14%	-0.16%	0.1%	0.08%	0.11%	0.11%
Operating Income Growth %	-0.54%	-0.46%	0.3%	0.05%	-0.18%	-1.79%	1.59%	-0.08%	0.32%	0.07%
EBITDA+	188.53M	113.05M	136.96M	141.71M	119.29M	-55.94M	63.78M	58.69M	70.42M	73.51M
EBITDA Margin %	0.24%	0.19%	0.21%	0.2%	0.18%	-0.11%	0.14%	0.12%	0.14%	0.14%
EBITDA Growth %	-0.49%	-0.4%	0.21%	0.03%	-0.16%	-1.47%	2.14%	-0.08%	0.2%	0.04%
D&A (Non-Cash Add-back)	27.46M	26.87M	24.52M	23.09M	22.61M	20.87M	18.52M	17.16M	15.78M	14.95M
EBIT	161.07M	87.45M	109.97M	118.62M	102.02M	49.63M	45.26M	41.52M	54.64M	58.56M
Net Interest Income+	-12.32M	-11.57M	-10.73M	-13.33M	-14.69M	-14.37M	-9.15M	-11.57M	-13.43M	-12.37M
Interest Income	56K	0	0	0	0	0	0	0	0	0
Interest Expense	12.38M	11.57M	10.73M	13.33M	14.69M	14.37M	9.15M	11.57M	13.43M	12.37M
Other Income/Expense	-12.38M	-11.57M	-8.26M	-13.33M	-14.69M	-14.37M	-9.15M	-11.57M	-13.43M	-12.37M
Pretax Income+	148.69M	74.61M	101.71M	105.29M	81.99M	-91.18M	36.11M	29.95M	41.21M	46.19M
Pretax Margin %	0.19%	0.13%	0.15%	0.15%	0.12%	-0.19%	0.08%	0.06%	0.08%	0.09%
Income Tax+	33.76M	10.75M	18.61M	25.45M	-12.29M	5.9M	15.89M	10.3M	4.18M	14.03M
Effective Tax Rate %	0.77%	0.86%	0.82%	0.76%	1.24%	1.07%	0.55%	0.65%	0.89%	0.68%
Net Income+	114.85M	63.9M	83.13M	79.53M	101.98M	-97.64M	19.73M	19.45M	36.67M	31.4M
Net Margin %	0.14%	0.11%	0.13%	0.11%	0.15%	-0.2%	0.04%	0.04%	0.07%	0.06%
Net Income Growth %	-0.55%	-0.44%	0.3%	-0.04%	0.28%	-1.96%	1.2%	-0.01%	0.89%	-0.14%
Net Income (Continuing)	114.55M	65.02M	80.98M	79.85M	94.28M	-97.07M	20.16M	19.66M	37.02M	32.15M
Discontinued Operations	0	0	2.11M	0	7.83M	-424K	0	0	0	0
Minority Interest	5.37M	3.94M	3.89M	4.14M	4.28M	4.06M	4.55M	4.7M	4.99M	5.75M
EPS (Diluted)+	2.68	1.45	1.88	1.79	2.10	-2.16	0.42	0.42	0.77	0.66
EPS Growth %	-0.54%	-0.46%	0.3%	-0.05%	0.17%	-2.03%	1.19%	0%	0.83%	-0.14%
EPS (Basic)	2.71	1.45	1.88	1.80	2.11	-2.18	0.43	0.42	0.79	0.67
Diluted Shares Outstanding	42.91M	44.15M	44.26M	44.47M	44.65M	44.97M	46.69M	46.81M	47.52M	47.69M
Basic Shares Outstanding	42.38M	43.48M	44.15M	44.21M	44.36M	44.48M	46.01M	46.33M	46.68M	46.9M
Dividend Payout Ratio	0.82%	1.49%	1.17%	1.22%	0.96%	-	0.09%	0.1%	0.05%	0.06%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	238.55M	186.46M	207.43M	230.98M	221.24M	165.85M	189.06M	211.7M	223.14M	226.61M
Cash & Short-Term Investments	22.49M	14.76M	14.4M	13.12M	11.09M	13.81M	17.7M	15.43M	15.12M	19.16M
Cash Only	22.49M	14.76M	14.4M	13.12M	11.09M	13.81M	17.7M	15.43M	15.12M	19.16M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	145.69M	114.33M	133.1M	129.16M	138.11M	83.19M	106.74M	115.1M	123.07M	127.36M
Days Sales Outstanding	66.68	70.17	73.63	67.26	75.44	62.32	82.85	85.79	88.11	88.74
Inventory	40.91M	33.72M	33.32M	45.66M	50.16M	38.15M	45.44M	60.45M	71.7M	59.4M
Days Inventory Outstanding	26.66	26.21	24.36	32.05	36.95	36.16	42.92	53.7	62.95	49.79
Other Current Assets	17.41M	12.94M	14.02M	27.69M	5.92M	15.9M	5.11M	5.06M	5.09M	10.52M
Total Non-Current Assets+	386.71M	386.59M	377.38M	417.85M	553.44M	402.73M	391.8M	366.65M	363.26M	363.8M
Property, Plant & Equipment	143.21M	129.88M	123.1M	122.92M	199.2M	181.68M	172.34M	157.41M	153.47M	153.55M
Fixed Asset Turnover	5.57x	4.58x	5.36x	5.70x	3.35x	2.68x	2.73x	3.11x	3.32x	3.41x
Goodwill	178.16M	179.04M	179.04M	219.41M	213.43M	99.44M	99.44M	99.44M	99.44M	99.44M
Intangible Assets	10.04M	9.94M	9.4M	13.05M	17.45M	8.58M	8.14M	7.48M	6.93M	6.4M
Long-Term Investments	2.72M	3.22M	3.56M	3.76M	3.97M	4.09M	4.16M	4.45M	4.84M	5.08M
Other Non-Current Assets	-14.41M	-23.83M	-14.28M	-15.01M	52.08M	36.16M	37.26M	29.3M	98.58M	29.71M
Total Assets+	625.26M	573.05M	584.81M	648.83M	774.67M	568.58M	580.85M	578.35M	586.39M	590.41M
Asset Turnover	1.28x	1.04x	1.13x	1.08x	0.86x	0.86x	0.81x	0.85x	0.87x	0.89x
Asset Growth %	-0.07%	-0.08%	0.02%	0.11%	0.19%	-0.27%	0.02%	-0%	0.01%	0.01%
Total Current Liabilities+	120.76M	104.02M	105.02M	102.55M	111.59M	89.75M	90.78M	103.14M	88.1M	97.59M
Accounts Payable	33.47M	33.72M	41.7M	41.16M	35.61M	23.03M	29.73M	45.85M	33.51M	34.55M
Days Payables Outstanding	21.81	26.21	30.49	28.88	26.23	21.82	28.08	40.73	29.42	28.96
Short-Term Debt	0	0	0	0	11.84M	0	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	34.98M	19.48M	29.99M	18.6M	17.75M	14.96M	13.61M	13.18M	13.59M	8.16M
Current Ratio	1.98x	1.79x	1.98x	2.25x	1.98x	1.85x	2.08x	2.05x	2.53x	2.32x
Quick Ratio	1.64x	1.47x	1.66x	1.81x	1.53x	1.42x	1.58x	1.47x	1.72x	1.71x
Cash Conversion Cycle	71.52	70.17	67.5	70.43	86.16	76.65	97.7	98.76	121.65	109.57
Total Non-Current Liabilities+	528.2M	313.73M	331.06M	385.38M	480.94M	403.26M	329.07M	286.26M	268.49M	235.08M
Long-Term Debt	430.99M	216.49M	226.99M	289.77M	305.28M	259.43M	188.64M	172.39M	163.13M	126.11M
Capital Lease Obligations	0	0	0	0	64.66M	56.11M	49.29M	38.3M	42.08M	43.34M
Deferred Tax Liabilities	4.88M	6.28M	5.32M	7.63M	27.34M	20.59M	24.34M	22.88M	12.7M	13.78M
Other Non-Current Liabilities	92.33M	90.97M	45.96M	37.22M	33.17M	27.98M	27.71M	20.88M	20.04M	51.85M
Total Liabilities	648.96M	417.75M	436.08M	487.93M	592.53M	493.01M	419.85M	389.4M	356.59M	332.67M
Total Debt+	430.99M	216.49M	226.99M	289.77M	381.78M	326.98M	250.26M	222.39M	215.38M	180.14M
Net Debt	408.49M	201.72M	212.59M	276.65M	370.69M	313.17M	232.56M	206.96M	200.26M	160.99M
Debt / Equity	-	1.36x	1.49x	1.76x	2.10x	4.33x	1.55x	1.18x	0.94x	0.70x
Debt / EBITDA	2.29x	1.91x	1.66x	2.04x	3.20x	-	3.92x	3.79x	3.06x	2.45x
Net Debt / EBITDA	2.17x	1.78x	1.55x	1.95x	3.11x	-	3.65x	3.53x	2.84x	2.19x
Interest Coverage	13.01x	7.45x	10.48x	8.90x	6.58x	-5.34x	4.95x	3.59x	4.07x	4.73x
Total Equity+	-18.33M	159.24M	152.62M	165.04M	182.14M	75.57M	161M	188.95M	229.81M	257.74M
Equity Growth %	-1.18%	9.69%	-0.04%	0.08%	0.1%	-0.59%	1.13%	0.17%	0.22%	0.12%
Book Value per Share	-0.43	3.61	3.45	3.71	4.08	1.68	3.45	4.04	4.84	5.40
Total Shareholders' Equity	-23.7M	155.3M	148.73M	160.9M	177.87M	71.51M	156.45M	184.26M	224.81M	251.99M
Common Stock	1.14M	1.15M	1.15M	1.15M	1.15M	1.15M	1.19M	1.19M	469K	470K
Retained Earnings	219.21M	187.96M	173.85M	156.13M	160.54M	50.46M	68.35M	85.95M	120.76M	150.28M
Treasury Stock	-238.88M	-80.77M	-76.27M	-52.5M	-29.36M	-14.07M	-4.08M	-1.36M	-1.45M	-2.54M
Accumulated OCI	-10.54M	-9.83M	-8.35M	-5.46M	-6.33M	-7.2M	-10.13M	-3.78M	-4.97M	-5.77M
Minority Interest	5.37M	3.94M	3.89M	4.14M	4.28M	4.06M	4.55M	4.7M	4.99M	5.75M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	219.1M	131.89M	124.27M	111.83M	89.53M	57.87M	36.58M	24.96M	24.79M	56.39M
Operating CF Margin %	0.27%	0.22%	0.19%	0.16%	0.13%	0.12%	0.08%	0.05%	0.05%	0.11%
Operating CF Growth %	-0.28%	-0.4%	-0.06%	-0.1%	-0.2%	-0.35%	-0.37%	-0.32%	-0.01%	1.27%
Net Income	114.93M	63.86M	83.1M	79.79M	93.71M	-96.92M	20.22M	19.66M	37.02M	32.15M
Depreciation & Amortization	27.46M	26.87M	24.94M	23.09M	22.61M	20.87M	18.52M	17.16M	15.78M	14.95M
Stock-Based Compensation	21.28M	22.08M	22.94M	34.19M	20.88M	7.39M	19.09M	7.76M	13.97M	3.75M
Deferred Taxes	-107K	-14.38M	9.02M	1.83M	-36.34M	-12.22M	6.01M	433K	-10.81M	674K
Other Non-Cash Items	8.54M	-1.74M	-6.32M	-17.18M	-478K	132.81M	-3.01M	4.97M	-2.41M	-3.03M
Working Capital Changes	47M	35.2M	-9.4M	-9.89M	-10.84M	5.94M	-24.25M	-25.02M	-28.77M	7.88M
Change in Receivables	49.26M	31.58M	-18.57M	2.27M	-3.19M	46.42M	-13.52M	-10.08M	-2.62M	-3.61M
Change in Inventory	3.05M	6.22M	446K	-10.4M	-3.89M	1.47M	-4.55M	-14.86M	-12.98M	9.37M
Change in Payables	-13.35M	-1.04M	8.72M	-1.75M	-3.76M	-12.84M	6.57M	15.37M	-12.88M	519K
Cash from Investing+	-39.65M	-14.72M	-20.56M	-70.64M	-5.68M	7.85M	-10.22M	-3.86M	-6.65M	-6.39M
Capital Expenditures	-24.26M	-11.7M	-18.77M	-21.74M	-22.27M	-11.88M	-13.54M	-10.22M	-10.58M	-13.03M
CapEx % of Revenue	0.03%	0.02%	0.03%	0.03%	0.03%	0.02%	0.03%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-22.94M	-10.96M	-18.45M	-23.24M	-6.77M	18.22M	-11.82M	6.12M	3.93M	6.63M
Cash from Financing+	-180.3M	-124.9M	-104.08M	-42.47M	-85.87M	-63.01M	-22.46M	-23.38M	-18.45M	-45.96M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-94.23M	-95.14M	-97.14M	-97.25M	-97.57M	-12.45M	-1.83M	-1.85M	-1.87M	-1.88M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.7M	-2.55M	-26K	-1.77M	8K	-1.77M	-1.37M	-2.62M	-5.38M	-775K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	194.84M	120.18M	105.5M	90.09M	67.26M	45.99M	23.04M	14.74M	14.21M	43.36M
FCF Margin %	0.24%	0.2%	0.16%	0.13%	0.1%	0.09%	0.05%	0.03%	0.03%	0.08%
FCF Growth %	-0.27%	-0.38%	-0.12%	-0.15%	-0.25%	-0.32%	-0.5%	-0.36%	-0.04%	2.05%
FCF per Share	4.54	2.72	2.38	2.03	1.51	1.02	0.49	0.31	0.30	0.91
FCF Conversion (FCF/Net Income)	1.91x	2.06x	1.49x	1.41x	0.88x	-0.59x	1.85x	1.28x	0.68x	1.80x
Interest Paid	12.31M	11.25M	10.53M	11.5M	13.63M	11.67M	10.48M	9.3M	11.2M	10.86M
Taxes Paid	35.52M	12.18M	24.31M	31.93M	13.8M	21.32M	18.13M	28.16M	29.07M	28.44M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	279.84%	90.69%	53.31%	50.07%	58.75%	-75.77%	16.68%	11.12%	17.52%	12.88%
Return on Invested Capital (ROIC)	29.35%	17.21%	23.23%	22.05%	14.58%	-12.24%	8.68%	7.89%	9.92%	10.35%
Gross Margin	29.77%	21.06%	24.34%	25.8%	25.83%	20.96%	17.83%	16.11%	18.45%	16.87%
Net Margin	14.4%	10.74%	12.6%	11.35%	15.26%	-20.04%	4.2%	3.97%	7.19%	5.99%
Debt / Equity	-	1.36x	1.49x	1.76x	2.10x	4.33x	1.55x	1.18x	0.94x	0.70x
Interest Coverage	13.01x	7.45x	10.48x	8.90x	6.58x	-5.34x	4.95x	3.59x	4.07x	4.73x
FCF Conversion	1.91x	2.06x	1.49x	1.41x	0.88x	-0.59x	1.85x	1.28x	0.68x	1.80x
Revenue Growth	-26.51%	-25.43%	10.94%	6.22%	-4.66%	-27.08%	-3.49%	4.14%	4.1%	2.76%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Service	-	-	-	-	-	-	-	-	371.91M	388.2M
Service Growth	-	-	-	-	-	-	-	-	-	4.38%
Product	-	-	-	-	-	-	-	-	137.88M	135.64M
Product Growth	-	-	-	-	-	-	-	-	-	-1.62%
Operating Reservoir Description	445.73M	377.98M	393.74M	387.1M	389.8M	332.08M	296.58M	296.2M	-	-
Operating Reservoir Description Growth	-	-15.20%	4.17%	-1.69%	0.70%	-14.81%	-10.69%	-0.13%	-	-
Operating Production Enhancement	121.67M	68.43M	87.78M	99.72M	84.39M	44.34M	47.77M	50.77M	-	-
Operating Production Enhancement Growth	-	-43.76%	28.27%	13.61%	-15.37%	-47.46%	7.74%	6.30%	-	-
Operating Corporate And Other	-10.76M	-4.94M	-1.48M	-	-	-	-	-	-	-
Operating Corporate And Other Growth	-	54.09%	70.05%	-	-	-	-	-	-	-
Operating Reservoir Management	44.55M	23.85M	-	-	-	-	-	-	-	-
Operating Reservoir Management Growth	-	-46.46%	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Other Countries	414.81M	347.33M	342.53M	342.14M	353.8M	328.33M	322.07M	323.03M	331.24M	344.95M
Other Countries Growth	-	-16.27%	-1.38%	-0.11%	3.41%	-7.20%	-1.91%	0.30%	2.54%	4.14%
UNITED STATES	338.91M	224.86M	284.26M	324.07M	289.17M	158.94M	148.18M	166.7M	178.55M	178.9M
UNITED STATES Growth	-	-33.65%	26.41%	14.01%	-10.77%	-45.04%	-6.77%	12.50%	7.11%	0.19%
CANADA	43.81M	22.55M	33.02M	34.63M	25.24M	-	-	-	-	-
CANADA Growth	-	-48.53%	46.45%	4.89%	-27.12%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Core Laboratories N.V. (CLB) has a price-to-earnings (P/E) ratio of 29.7x. This suggests investors expect higher future growth.

Growth & Financials

Core Laboratories N.V. (CLB) reported $517.5M in revenue for fiscal year 2024. This represents a 43% decrease from $907.6M in 2011.

Core Laboratories N.V. (CLB) grew revenue by 2.8% over the past year. Growth has been modest.

Yes, Core Laboratories N.V. (CLB) is profitable, generating $32.1M in net income for fiscal year 2024 (6.0% net margin).

Dividend & Returns

Yes, Core Laboratories N.V. (CLB) pays a dividend with a yield of 0.20%. This makes it attractive for income-focused investors.

Core Laboratories N.V. (CLB) has a return on equity (ROE) of 12.9%. This is reasonable for most industries.

Core Laboratories N.V. (CLB) generated $34.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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