Latest Ratios: P/E Ratio 22.1x · EV/EBITDA 11.8x · 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 | $77.5B | $57.1B | $55.1B | $75.1B | $76.8B | $42.7B | $30.3B | $55.7B | $50.3B | $93.5B | $113.9B |
| Enterprise Value | $86.8B | $66.4B | $63.6B | $84.2B | $87.4B | $55.2B | $46.4B | $69.8B | $64.9B | $109.9B | $130.6B |
| P/E Ratio → | 22.07 | 16.33 | 12.33 | 17.88 | 22.37 | 22.69 | — | — | 23.58 | — | — |
| P/S Ratio | 2.17 | 1.60 | 1.52 | 2.27 | 2.73 | 1.86 | 1.29 | 1.69 | 1.53 | 3.07 | 4.10 |
| P/B Ratio | 2.83 | 2.09 | 2.46 | 3.52 | 4.27 | 2.80 | 2.43 | 2.30 | 1.37 | 2.51 | 2.74 |
| P/FCF | 16.17 | 11.91 | 12.31 | 16.52 | 38.32 | 12.31 | 17.57 | 16.02 | 14.56 | 28.52 | 31.86 |
| P/OCF | 11.95 | 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 | 11.79 | 9.01 | 7.74 | 11.60 | 15.02 | 12.35 | 12.79 | 22.59 | 9.62 | 16.87 | 20.47 |
| EV / EBIT | 15.91 | 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 | 2.1% | 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 | 4.5% | 6.1% | 8.1% | 5.6% | 4.5% | 4.4% | — | — | 4.2% | — | — |
| FCF Yield | 6.2% | 8.4% | 8.1% | 6.1% | 2.6% | 8.1% | 5.7% | 6.2% | 6.9% | 3.5% | 3.1% |
| Buyback Yield | 3.1% | 4.2% | 3.2% | 0.9% | 0.0% | 0.0% | 0.1% | 0.5% | 0.8% | 1.0% | 0.7% |
| Total Shareholder Yield | 5.2% | 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 |
Includes 30+ ratios · 30 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying SLB stock.
Slb N.V.'s current P/E ratio is 22.1x. The historical average is 29.4x. This places it at the 36th percentile of its historical range.
Slb N.V.'s current EV/EBITDA is 11.8x. 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 22.1x. This is at the 36th 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 2.08% 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.
Key Metrics
Top Statement Risk
Middle East disruptions and margin compression
Metrics are mathematically derived from official filings.
Margin Compression Signals Structural Shift
Gross margin fell from 21.1% in Q4 2024 to 15.5% in Q2 2026, a 560 bps decline, while operating margin dropped to 11.9%, suggesting pricing power erosion. Based on EDBL's reported figures, this may indicate a structural, not cyclical, deterioration.
The sequential decline in gross margin from 17.7% in Q4 2025 to 15.5% in Q2 2026, alongside a stable revenue base, points to cost pressures or a mix shift toward lower-margin work. Operating margin compression of 630 bps from peak to trough suggests that fixed costs are not flexing down with revenue, eroding operating leverage. Investors should monitor whether this reflects a permanent shift in the competitive landscape or a temporary utilization trough.
Return on Capital Decaying from 2024 Peak
ROIC fell from 4.0% in Q4 2024 to 2.2% in Q2 2026, while ROE dropped from 4.9% to 2.9%, indicating a clear decay in capital efficiency. As reported in financial statements, this suggests the company is generating lower returns on its invested capital.
The decline in ROIC is driven by both margin compression and a 16% expansion in total assets since Q1 2024, which has outpaced revenue growth. The increase in goodwill to $17.0B, representing 31% of total assets, suggests acquisition-driven growth that has not yet translated into proportional returns. This trend warrants close monitoring, as continued decay could signal value destruction rather than temporary cyclicality.
Working Capital Efficiency Deteriorates
Cash conversion cycle lengthened from 14 days in Q2 2024 to 22 days in Q2 2026, driven by DSO rising from 84 to 92 days. According to recent SEC filings, this suggests slower collections and reduced supplier leverage, pressuring cash flow.
The increase in DSO by 8 days indicates that customers are taking longer to pay, which may reflect a softening demand environment or a shift in contract terms. DPO has remained relatively stable around 130 days, but the widening gap between receivables and payables is consuming cash. This trend, combined with a 128% payout ratio of shareholder returns to FCF in Q2 2026, suggests that working capital management is becoming a drag on liquidity.
Leverage Creeps Higher Despite Modest Deleveraging
Debt-to-equity improved from 0.56 in Q1 2024 to 0.47 in Q2 2026, but total debt rose to $12.8B, and D/EBITDA increased to 7.18 from 6.09. As reported in financial statements, interest coverage remains adequate at 8.96x, but the trend warrants monitoring.
While the D/E ratio appears healthier due to equity growth, the absolute debt level has increased, and D/EBITDA has risen from 5.32 in Q4 2025 to 7.18 in Q2 2026, indicating that EBITDA is not growing in line with debt. Interest coverage has declined from 13.01x in Q1 2024 to 8.96x, but remains comfortable. The company's ability to service debt is not yet strained, but the trajectory suggests that if margins continue to compress, leverage metrics could deteriorate further.
Liquidity Buffer Stable but Thin
Current ratio improved to 1.44 in Q2 2026 from 1.37 in Q1 2024, but quick ratio remains at 1.05, indicating limited inventory cushion. Based on EDBL's reported figures, the liquidity position appears adequate but could be tested under stress.
The current ratio of 1.44 provides a modest buffer, but the quick ratio of 1.05 suggests that inventory is a significant component of current assets, which may be less liquid in a downturn. Cash levels have remained stable at $2.7B, but with shareholder returns exceeding FCF, the company is relying on balance sheet cash to fund distributions. If working capital continues to absorb cash, liquidity could tighten, especially if Middle East disruptions persist.
Misapplied Metric: EV/EBITDA
EV/EBITDA of 12.19x appears reasonable for an oilfield services firm, but it obscures the impact of SLB's high-margin digital and software business. According to recent financial disclosures, this metric undervalues the recurring revenue stream, suggesting a more appropriate metric is EV/EBIT or EV/Sales.
EV/EBITDA is commonly used to compare SLB with peers like Halliburton and Baker Hughes, but it fails to capture the capital intensity and depreciation associated with long-cycle projects. SLB's EBITDA is inflated by non-cash charges like amortization of multiclient seismic data, which masks the true cash-generating capacity. A more accurate valuation would adjust for these items and focus on EV/EBIT or EV/Sales, which better reflect the recurring software revenue and the company's transition toward a technology-driven model.