Stock Analysis on Net

SLB N.V. (NYSE:SLB)

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Common-Size Balance Sheet: Assets
Quarterly Data

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SLB N.V., common-size consolidated balance sheet: assets (quarterly data)

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Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Cash
Short-term investments
Receivables less allowance for doubtful accounts
Inventories
Other current assets
Current assets
Investments in affiliated companies
Fixed assets less accumulated depreciation
Goodwill
Intangible assets
Deferred taxes
Other assets
Noncurrent assets
Total assets

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).


Cash and Short-term Investments
Cash as a percentage of total assets exhibits a generally upward trend over the periods analyzed, increasing from 2.83% in March 2020 to a peak above 7% by late 2024, though some fluctuations occur. Short-term investments, in contrast, show a declining pattern, decreasing from just over 4% in early 2020 to near 1% by late 2025. This suggests a shift in liquidity preference, with cash holdings becoming more prominent relative to short-term investments.
Receivables and Inventories
Receivables less allowances trend upward overall, growing from approximately 15.4% in early 2020 to a peak near 17.6% in late 2025, with some volatility. Inventories remain relatively stable around the 8-9.7% range, with minor variations but no significant long-term change. This stability in inventories combined with increasing receivables may reflect tighter credit terms or increased sales on credit.
Other Current Assets and Total Current Assets
Other current assets fluctuate moderately but largely remain around 2.5-3% of total assets, with no clear directional trend. Total current assets show a mild upward trajectory, increasing from about 33.5% in early 2020 to peaks around 37-38% in the 2023-2024 periods, before slightly decreasing near 35% by late 2025. This increase points to a growing proportion of current assets relative to total assets over time.
Investments in Affiliated Companies and Fixed Assets
Investments in affiliated companies increase from roughly 3.1% early on to just above 5% by late 2020, followed by a gradual decline to about 3% by late 2025. Fixed assets as a proportion of total assets show a modest downward trend, moving from nearly 17.6% to about 14.5% at the end of the period. The decline in fixed assets alongside investments in affiliates suggests a reallocation or depreciation focus.
Goodwill and Intangible Assets
Goodwill remains the largest single asset component, maintaining levels close to 29-31% of total assets throughout the periods with slight cyclical variation. Intangible assets decline gradually from over 8% in early 2020 to below 6% by mid-2025, before a notable spike to 9.24% in the final quarter examined. This spike signals a potentially significant adjustment or acquisition towards the end of the period.
Other Assets and Noncurrent Assets
Other assets steadily decline from 11.3% to roughly 7% over the periods, indicating a reduction in miscellaneous asset categories. Noncurrent assets as a whole decrease from about 66.5% to the low 62% range in the middle periods, but then rise sharply to almost 65% by late 2025. This reversal in noncurrent assets aligns partially with the jump in intangible assets at the end.
Overall Asset Composition
Total assets, expressed as a percentage of themselves, remain constant by definition. However, the internal composition shifts show increasing liquidity via cash balances, declining short-term investments, fluctuating receivables, and a relatively steady inventory base. Significant changes include the reduction in intangible assets over time with an abrupt increase at the end, and corresponding movements in noncurrent assets, indicating strategic asset reclassification or acquisitions in the final quarters.