--- title: SLB (SLB) — intrinsic value and fair price canonical: https://sweetvaluelab.com/stocks/slb ticker: SLB as_of: 2026-10-17 sector: Energy industry: Oil & Gas Equipment & Services --- # SLB (SLB) SLB (SLB) closed at $49.50 on Oct 16, 2026, undervalued by 22% vs its model value of $63.77 (from a five-year discounted cash flow). ## Key figures | Figure | Value | | --- | ---: | | Last close | $49.50 (Oct 16, 2026) | | Model value (from a five-year discounted cash flow) | $63.77 | | Price vs model | undervalued by 22% vs model | | Range of that model | $41.52 – $133.49 | | Market value | $73.5B | | P/E (fiscal 2025) | 21.1 | | Net margin (fiscal 2025) | 9.4% | | Free cash flow (fiscal 2025) | $4.8B | | Dividend yield (trailing twelve months) | 2.36% | | Beta | 0.84 | | Cost of capital (WACC) | 8.29% | | Business classification | Cyclical (Low/slowing growth (~4% recent), Moderate margins (9% net margin), Pays dividends, Highly cyclical earnings, Strong FCF yield (6.5%)) | ## Dividends | Figure | Value | | --- | ---: | | Trailing dividend yield | 2.36% | | Dividends per share, last 12 months | $1.17 | | Dividends / free cash flow (fiscal 2025) | 33.4% | | Raised | 4 years in a row | | Growth over 5 years | 18.5% a year | | Latest payment | $0.295, ex-date Sep 2, 2026, paid Oct 8, 2026 | | Year of payments | Dividends per share | | --- | ---: | | To Aug 31, 2021 | $0.50 | | To Sep 6, 2022 | $0.60 | | To Sep 5, 2023 | $0.93 | | To Sep 4, 2024 | $1.08 | | To Sep 3, 2025 | $1.13 | | Trailing twelve months (to Sep 2, 2026) | $1.17 | ## Valuation models Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026. | Model | Role | Value per share | Low | High | | --- | --- | ---: | ---: | ---: | | DCF · Perpetuity growth · 5y | primary | $63.77 | $41.52 | $133.49 | | DCF · Perpetuity growth · 10y | cross check | $73.47 | $48.94 | $149.23 | | DCF · EBITDA exit · 5y | cross check | $56.21 | $32.55 | $84.25 | | DCF · EBITDA exit · 10y | cross check | $66.33 | $41.42 | $100.06 | | P/E · peers | cross check | $39.55 | $37.98 | $43.72 | | P/E · own history | cross check | $48.95 | $35.38 | $58.52 | | PEG | sanity check | $37.39 | $37.39 | $37.39 | | EV/EBITDA · peers | cross check | $43.02 | $37.82 | $48.20 | | EV/Revenue · peers | cross check | $31.46 | $20.75 | $32.65 | | Earnings power value | cross check | $29.88 | $24.26 | $37.97 | | Dividend discount | cross check | $25.96 | $17.98 | $41.89 | ## Insider activity (SEC Form 4) Past 90 days: 0 open-market buys ($0) and 4 open-market sales ($4.0M); 10b5-1 plan sales included. | Date | Insider | Relationship | Transaction | Shares | Value | | --- | --- | --- | --- | ---: | ---: | | Sep 1, 2026 | Le Peuch Olivier | Chief Executive Officer | Open-market sell (10b5-1 plan) | 35,000 | $2.1M | | Aug 31, 2026 | Le Peuch Olivier | Chief Executive Officer | Open-market sell (10b5-1 plan) | 5,000 | $300,000 | | Aug 27, 2026 | Le Peuch Olivier | Chief Executive Officer | Open-market sell (10b5-1 plan) | 5,000 | $275,000 | | Aug 26, 2026 | Le Peuch Olivier | Chief Executive Officer | Open-market sell (10b5-1 plan) | 25,000 | $1.3M | | May 27, 2026 | Le Peuch Olivier | Chief Executive Officer | Open-market sell (10b5-1 plan) | 25,000 | $1.4M | ## Recent SEC filings | Filed | Form | What | Filing | | --- | --- | --- | --- | | Oct 6, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers | https://www.sec.gov/Archives/edgar/data/87347/000119312526415617/d184262d8k.htm | | Aug 31, 2026 | 8-K | 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/87347/000119312526375358/d106278d8k.htm | | Aug 14, 2026 | S-8 | Employee stock plan registration | https://www.sec.gov/Archives/edgar/data/87347/000119312526351460/d140805ds8.htm | | Jul 29, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/87347/000119312526322595/slb-20260630.htm | | Jul 24, 2026 | 8-K | 2.02 Results of Operations (Earnings); 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/87347/000119312526315068/d122193d8k.htm | ## Superinvestors holding it (latest 13F) | Manager | Quarter | Shares | Value | | --- | --- | ---: | ---: | | First Eagle | 2026-06-30 | 28,913,733 | $1.3B | | Greenhaven | 2026-06-30 | 3,802,344 | $176.8M | | Bridgewater | 2026-06-30 | 1,338,849 | $62.2M | | John Rogers | 2026-06-30 | 1,163,320 | $54.1M | 9 tracked managers in all. ## About 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 engineeri… --- Source: https://sweetvaluelab.com/stocks/slb (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.