SLB N.V. (NYSE:SLB)

The analysis of the quarterly financial data reveals several notable trends and shifts in the composition of liabilities and equity over the examined periods.

Accounts Payable and Accrued Liabilities

This category fluctuated moderately, starting at 20.92% of total liabilities and equity and exhibiting minor variability around the 20% mark, peaking at 22.74% by the end of 2023 before slightly declining towards 19.71% in late 2025. This suggests a relatively stable management of short-term obligations linked to vendor and expense accruals.

Estimated Liability for Taxes on Income

There is a mild downward trend in this liability, starting slightly above 2.3% and gradually decreasing to 1.48% by the last period. This reduction could reflect changes in profitability, tax planning strategies, or adjustments in tax assessments.

Short-term Borrowings and Current Portion of Long-term Debt

This measure demonstrates some volatility, with a noticeable spike occurring in early 2025 where it jumps to over 7%, suggesting short-term liquidity management fluctuations or refinancing activities. The value overall shifts between lows near 0.09% and highs beyond 7%, indicating varying reliance on short-term debt.

Dividends Payable

Dividends payable maintain a low and relatively steady proportion of total liabilities and equity, generally around the 0.4% to 0.85% range. A slight increase is observed mid-series but stabilizes without significant impact on the overall financial structure.

Current Liabilities

Current liabilities as a whole show a somewhat consistent share, oscillating mostly between approximately 23% and 28%, with a few peaks reaching close to 30%. This indicates a steady level of short-term obligations relative to the company’s total capital structure.

Long-term Debt, Excluding Current Portion

A clear downward trend is evident here, with long-term debt decreasing from the upper 30% range to under 20% by the end of the dataset. This suggests a substantial reduction in long-term borrowing or debt repayment strategy over the periods, which may impact the company's leverage and risk profile.

Postretirement Benefits

This liability declined significantly from about 2% to below 1% during the middle periods and then remained relatively stable around one percent thereafter. This may reflect changes in pension obligations or actuarial assumptions reducing the recorded liability.

Deferred Taxes

Starting with sparse data and low initial values, deferred taxes slightly increased over time with a notable spike reaching 1.5% in the latest period. This indicates growing differences in timing or recognition between accounting and tax reporting.

Other Liabilities

These liabilities have shown a gradual decrease from over 6% down to around 3.5%, pointing to a reduction in miscellaneous non-current liabilities.

Noncurrent Liabilities

Reflecting the trends in long-term debt and other items, noncurrent liabilities decreased from nearly 46% to around 25%, underscoring a reduction in the company's long-term obligations relative to its total capital.

Total Liabilities

The overall liabilities dropped steadily from above 70% to close to 51%, demonstrating a strategic deleveraging or shift towards equity financing.

Common Stock

The proportion of common stock within total liabilities and equity initially increased up to about 31%, followed by a decline to low twenties throughout most of the mid-periods, and then rising sharply toward almost 30% by late 2025. This fluctuation suggests occasional equity issuances or buybacks impacting common stock representation.

Treasury Stock

Treasury stock levels became less negative over time from near -7.5% to about -1%, showing substantial repurchase reduction, then fluctuated again with a brief return into deeper negative territory near -7% in 2025. These movements imply active share buyback and reissuance activities.

Retained Earnings

Retained earnings grew consistently from approximately 22% to a peak near 36%, indicating ongoing profitability retention and reinvestment into the business, bolstering the equity base over the periods.

Accumulated Other Comprehensive Loss

This element remained negative throughout but showed a moderate improvement mid-period before slightly deteriorating again, maintaining roughly between -8% and -11%. This reflects fluctuations in items such as foreign currency translation adjustments or unrealized losses impacting equity.

Total Stockholders’ Equity

Equity increased steadily from about 27% to highs approaching 47% by forecast end, reflecting a strengthening equity base relative to liabilities, consistent with the declining leverage observed.

Noncontrolling Interests

Noncontrolling interests maintained a minor but gradually rising share from below 1% to around 2.5%, indicating minor growth in subsidiary interests not owned by the parent company.

Total Equity

The combined equity proportion reflected the above patterns, rising from under 30% to nearly 49%, signifying an overall improved capital structure with less dependence on liabilities.

In summary, the company has demonstrated a consistent strategy of reducing leverage by diminishing long-term debts and total liabilities while increasing equity through retained earnings and common stock fluctuations. The patterns suggest improved financial stability and potentially lower financial risk, although occasional increases in short-term borrowings and treasury stock volatility indicate active financial management to optimize capital structure. The components of stockholders’ equity have generally strengthened, supported by robust retained earnings growth, whereas comprehensive losses remain a modest headwind. Overall, these trends signal a balanced approach to capital management with a focus on strengthening equity financing over the reviewed quarterly periods.