SLB (SLB): analysis in plain words
Is SLB cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
SLB (SLB) is listed on the NYSE and we classify it in oil and gas. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against SLB according to those figures, and the questions people ask most about the stock. No buy or sell tips.
SLB (SLB) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $51.56 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 25.0x | Price over earnings per share |
| Revenue growth | +5.8% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 8.4% | Profit for every 100 of sales |
| Net debt / EBITDA | 1.2x | Years of operating profit to repay debt |
| Dividend yield | 2.26% | Annual dividend over price |
| Market cap | $76.1 billion | What the stock market values it at |
The SLB figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any SLB figure that is not available shows as N/A: we do not estimate it.
How SLB makes money
SLB, formerly Schlumberger, sells technology and services that help oil companies find, drill and produce from wells. Its divisions are Digital, Reservoir Performance, Well Construction and Production Systems, the last expanded by the ChampionX acquisition. Customers are national and international oil companies, with the Middle East and North America as key regions.
Over the last 12 months, SLB brought in revenue of $36.9 billion. For every 100 it sells, SLB keeps 16.6 after the direct cost of what it sells (gross margin) and 14.0 after all operating costs (operating margin). With 109,000 full-time employees, that is about $338,000 of revenue per employee.
SLB against its sector
To know whether a SLB figure is high or low you have to put it next to similar companies. This table compares SLB with the median of the 14 oil and gas companies Fintols covers, with data as of November 4, 2026.
| Figure | SLB | oil and gas median |
|---|---|---|
| P/E | 25.0x | 16.1x (14) |
| Revenue growth | +5.8% | +38.3% (14) |
| Net margin | 8.4% | 10.5% (14) |
| Dividend yield | 2.26% | 2.52% (14) |
| Net debt / EBITDA | 1.2x | 0.6x (13) |
In short, against the typical oil and gas company, SLB trades on a higher P/E, grows more slowly and earns a thinner margin. By size, SLB ranks number 9 of 11 oil and gas companies quoted in USD on Fintols.
The bull case for SLB
These are the strengths in the SLB figures as of November 4, 2026:
- Analysts expect SLB earnings to rise: its P/E on the next 12 months of estimated earnings is 16.8x, below the current 25.0x.
- SLB generates real cash: $3.1 billion of free cash flow over 12 months, 4.0% of its stock market value.
The main risk for SLB
The price already assumes a lot: SLB trades at 25.0x its last 12 months of earnings, against 16.1x for the oil and gas median. If growth disappoints, the multiple can shrink and the share price with it.
And, like the rest of oil and gas, SLB is exposed to oil and gas prices, which it does not control and which swing its profit year to year, plus the energy transition.
Frequently asked questions about SLB
Is it a good time to buy SLB stock?
Fintols does not tell you whether to buy or sell SLB, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, SLB stock trades at $51.56, 15% below its 52-week high ($60.46) and 49% above its low ($34.65). Its P/E is 25.0x against a oil and gas median of 16.1x, and 16.8x on the earnings analysts expect over the next 12 months. With SLB, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does SLB pay a dividend?
Yes. As of November 4, 2026, SLB pays $1.18 per share a year, which at today's price is a yield of 2.26%. It uses 57% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 1.89%. The oil and gas median on Fintols is 2.52%.
Is SLB stock expensive?
It depends on what you compare it with. On P/E, SLB trades at 25.0x its last 12 months of earnings: more expensive than the oil and gas median (16.1x). Including its debt, SLB is valued at 11.8x its EBITDA (EV/EBITDA). A high P/E alone does not make SLB expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are SLB's competitors?
On Fintols we compare SLB with EOG Resources, Phillips 66 and Marathon Petroleum, which are also in oil and gas. As of November 4, 2026, EOG Resources is worth $77.1 billion and trades on a P/E of 11.4; Phillips 66 is worth $101.3 billion and trades on a P/E of 8.3; Marathon Petroleum is worth $106.9 billion and trades on a P/E of 7.8. Each has a side-by-side comparison with SLB below.
SLB competitors
- EOG Resources (EOG) analysis · SLB vs EOG Resources comparison
- Phillips 66 (PSX) analysis · SLB vs Phillips 66 comparison
- Marathon Petroleum (MPC) analysis · SLB vs Marathon Petroleum comparison
To understand SLB better
- Dividend Growth Investing: FCF Payout Ratio and Compounding
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like SLB: oil and gas stocks and S&P 500 companies. Open the full SLB analysis with its valuation and scenarios. Educational content about SLB, not investment advice.