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Slb N.V. — Intrinsic Value & Fair Price

SLB
NYSEEnergyOil & Gas Equipment & ServicesCIK 0000087347slb.comAbout SLB
Last close · Oct 16, 202649.50+1.13 (+2.34%)
Market cap$73.5B
Model value · DCF · Perpetuity growth · 5y
63.77
SLB closed at $49.50 — undervalued by 22% vs model.
41.52the model's range133.49

DCF · Perpetuity growth · 5y leads for a cyclical company — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models
25.96 – 73.47
Wall St. target
66.00 25% below
Below model, 1y
81 of 81 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
2.36%
Past 2 years
low 1.93%high 3.56%
Dividends per share, a year at a time
$0.50Aug ’21$0.60Sep ’22$0.93Sep ’23$1.08Sep ’24$1.13Sep ’25$1.17TTM
Dividends / free cash flow, FY2025
33.4%
Raised
4 years in a row
Growth, 5 yrs
18.5% a year
Last change
+3.5% · Feb 2026
Every payment, with ex-dates · latest $0.295, paid Oct 8, 2026

Research on SLB

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How it is valued

Valued asCyclical
Low/slowing growth (~4% recent)Moderate margins (9% net margin)Pays dividendsHighly cyclical earningsStrong FCF yield (6.5%)
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for cyclical companies
P/E
21.1×
EV / EBITDA
11.6×
FCF yield
6.6%
Dividend yield, TTM
2.36%
Beta
0.84
Cost of capital (WACC)
8.29%
Full financials

Analyst actions

third-party, quoted
09-14UBS · target75.00
09-09UBS · target72.00
07-27Evercore ISI · target66.00
01-27Freedom Broker · “Sell” from “Hold”downgrade
Ratings, targets and estimates

Comparable companies

by business, not by industry label
Side by side:vs HALvs BKR

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just SLB. No account.

About SLB

SLB N.V. engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products. It also offers subsurface geology and fluids evaluation information; stimulation services to restore or enhance well productivity through hydraulic fracturing, matrix stimulation, and water treatment; and intervention services to oil and gas operators. In addition, the company offers mud logging, directional drilling, measurement-while-drilling, and logging-while-drilling services, as well as engineering support services; supplies drilling fluid systems; designs, manufactures, and markets roller cone and fixed cutter drill bits; bottom-hole-assembly and borehole enlargement technologies; well planning, well drilling, engineering, supervision, logistics, procurement, and contracting of third parties, as well as drilling rig management solutions; and drilling equipment and services, as well as land drilling rigs and related services. Further, it provides artificial lift; supplies packers, safety valves, sand control technology, and various intelligent systems; midstream production systems; valves, chokes, actuators, and surface trees; and OneSubsea, an integrated solutions, products, systems, and services, including wellheads, subsea trees, manifolds and flowline connectors, control systems, connectors, and services. SLB N.V. was formerly known as Schlumberger Limited and change its name to SLB N.V. in October 2025. The company was founded in 1926 and is based in Houston, Texas.

CEO
Olivier Le Peuch
Headquarters
Houston, TX
Employees
109,000
IPO
1981-12-31
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.