Common-Size Balance Sheet: Assets
Quarterly Data
SLB N.V., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The asset composition shows a structural shift toward increased liquidity over the analyzed period. Current assets as a percentage of total assets rose from 30.47% in March 2021 to a peak of 37.95% by December 2024, before stabilizing in the 35% to 36% range through September 2026. Conversely, noncurrent assets decreased from 69.53% to 63.53% over the same timeframe.
- Current Asset Dynamics
- A significant upward trend is observed in receivables, which increased from 12.53% of total assets in March 2021 to a high of 17.61% in June 2025, ending at 17.32% in September 2026. This indicates a growing proportion of capital tied up in customer credit. Cash holdings exhibited volatility, generally trending upward from 3.02% to a peak of 7.24% in December 2024, before settling at 4.66% by September 2026. Short-term investments showed a consistent long-term decline, falling from 3.91% to 1.65%. Inventories remained relatively stable but trended slightly upward, moving from 7.86% to 9.82%.
- Noncurrent Asset Trends
- Fixed assets less accumulated depreciation showed a gradual decline in relative weight, decreasing from 15.75% in March 2021 to 13.71% by September 2026. Goodwill remained the most stable and substantial component of noncurrent assets, fluctuating narrowly between 28.62% and 31.75%. Intangible assets experienced a steady decline from 8.08% to 5.93% by June 2025, followed by a sharp increase to 9.24% in September 2025, remaining around 8.7% through 2026. Investments in affiliated companies decreased steadily from 4.97% to 3.05%.
- Overall Asset Distribution
- The overall trajectory indicates a reduction in the relative weight of long-term investments and physical infrastructure in favor of liquid assets and receivables. Other assets also saw a contraction, declining from 9.86% to 7.28% over the period.
The transition toward a higher percentage of current assets suggests a strategic shift in the balance sheet structure, characterized by increased working capital requirements and a higher reliance on receivables. The stability of goodwill alongside the decline in fixed assets implies that the asset base is increasingly dominated by intangible value rather than physical capital.
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