SLBSLB

SLBSLB

Revenue: is the business selling more than it used to?

$35.7B−2% YoYFY 2025

→Revenue reached $35.7B in 2025, compounding +8% a year since 2022 and the pace is picking up. The last twelve months (+2%) ran below that pace, so growth is slowing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

Net income: how much of that revenue becomes profit?

$3.4B−24% YoYFY 2025

→Net income was $3.4B in 2025, compounding -1% a year over three years. Trailing twelve-month profit stands at $3.1B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

How fast is it growing, year by year?

-1.6%revenue growth, FY 2025

→Revenue grew -2% in 2025 against a five-year average of +9%. Earnings fell +24% on top of it. 2019's swing into loss (-574%) sits off the axis.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

Revenue per share: is your slice growing as fast as the company?

$24.85revenue per share, FY 2025

→Revenue per share reached $24.85 in 2025, compounding +8% a year - in line with SLB's own +8%, so the share count is not distorting your slice. Free cash flow per share stands at $3.34.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

Free cash flow: what is left in real cash after everything?

$4.8B+3% YoYFY 2025

→Free cash flow was $4.8B in 2025, compounding +32% a year since 2022.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

How much of every sales dollar ends up as free cash?

→13 cents of every sales dollar became free cash in 2025, up 6 points since 2022.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is capital spending, at 5% of revenue (research and development 2%, stock compensation 1%). That share has fallen since 2022, so the cost of competing is easing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

When sales grow, do profits grow faster?

→Operating profit outgrew revenue in 3 of the last 5 years, most recently +30% against +18%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

Margins: of every $1 of sales, how much survives each cost layer?

→Net margin stands at 9% in 2025. SLB doesn't break out gross or operating margin in its filings, so net is the only layer the data supports.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

What does it earn on the money it uses?

→ROE of 12% and ROCE of 19% sit close together, so the returns come from the business itself rather than from borrowing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

What has the market paid for SLB over time?

26.7xP/E today

→At 26.7x earnings, the market is paying +58% more than SLB's own 7-year median of 16.9x. Expectations are elevated, so more has to go right to justify the price.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

What cash return does the business throw off per dollar of market value?

5.6%FCF yield today

→Every dollar of market value currently buys 5.6% of annual free cash flow, less than its 11-year median of 7.2% - you are paying up for the same cash.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

Could it handle its debt if things went wrong?

→Debt of $11.1B sits against $3.2B of cash, or 0.4x shareholders' equity. Earnings cover the interest bill 13 times over, so the debt is comfortably serviced.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

Is the company's own capital growing?

→The company's own capital grew from $20.2B in 2023 to $26.1B (+29%). The business is building book value rather than consuming it.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

How fast is your ownership being diluted - or concentrated?

→The share count grew 0.1% in 2025, averaging 0.0% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

Is the dividend cheque growing?

→The dividend per share reached $1.11 in 2025, compounding -2% a year since 2020.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

Can it afford the dividend?

→The dividend consumed 47% of profit and 33% of free cash flow in 2025. That leaves room to keep paying through a weak year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

Does SLB earn more on its capital than that capital costs?

→SLB earns 18.9% on the capital it employs, comfortably above the 10% most investors treat as the cost of capital. It was 7.5% in 2020, so the trend is up, and the pace is picking up.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

SLB has issued or retired shares - did shareholders end up better off?

→SLB issued +6% more shares from 2011 to 2025 and revenue per share still fell -8%. On this measure the new shares have not paid for themselves.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

SLBSLB

Are the people running it buying or selling?

→Insiders sold $22M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 40 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30