Stock Analysis on Net
Stock Analysis on Net

SLB N.V. (NYSE:SLB)

$24.99

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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SLB N.V., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Mar 31, 2026 Dec 31, 2025 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
Net income
Charges and credits
Depreciation and amortization, includes depreciation of fixed assets and amortization of intangible assets, exploration data costs, and Asset Performance Solutions (APS) investments
Gain on sale of APS project
Impairment of equity method investment
Amortization of inventory purchase accounting adjustment
Deferred taxes
Stock-based compensation expense
Earnings of equity method investments, less dividends received
(Increase) decrease in receivables
(Increase) decrease in inventories
(Increase) decrease in other current assets
(Increase) decrease in other assets
Increase (decrease) in accounts payable and accrued liabilities
Increase (decrease) in estimated liability for taxes on income
Increase (decrease) in other liabilities
Other
Change in assets and liabilities, net of the effect of business acquisitions and divestitures
Adjustments to reconcile net income to cash provided by operating activities
Net cash provided by operating activities
Capital expenditures
APS investments
Exploration data costs capitalized
Cash acquired in ChampionX Corporation acquisition
Proceeds from sale of APS project
Proceeds from sale of ChampionX Drilling Technologies business
Other business acquisitions and investments, net of cash acquired
Proceeds from sale of Liberty shares
Proceeds from sale of ADC shares
Proceeds from sale of real estate
(Purchases) sales of short-term investments, net
Purchases of Blue Chip Swap securities
Proceeds from sale of Blue Chip Swap securities
Other
Net cash (used in) provided by investing activities
Stock repurchase program
Dividends paid
Proceeds from employee stock purchase plan
Proceeds from exercise of stock options
Taxes paid on net settled stock-based compensation awards
Proceeds from issuance of long-term debt
Repayment of long-term debt
Net increase (decrease) in short-term borrowings
Other
Net cash provided by (used in) financing activities
Translation effect on cash
Net increase (decrease) in cash

Based on: 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 cash flow profile demonstrates a period of significant growth in profitability and operational cash generation, characterized by substantial volatility in working capital and a strategic shift toward increased shareholder returns and targeted acquisitions.

Operating Cash Flow Trends
Net income exhibited a strong upward trajectory from early 2021, rising from 312 million USD to a peak of 1.218 billion USD by September 2024, before moderating toward the 761-829 million USD range in 2025 and early 2026. Net cash provided by operating activities shows extreme quarterly variance, with significant peaks occurring in December 2023 (3.022 billion USD) and December 2025 (3.005 billion USD). This volatility is primarily driven by fluctuations in working capital, specifically large swings in receivables and accounts payable and accrued liabilities.
Investment and Capital Expenditure
Capital expenditures have trended upward, moving from an average of approximately 200-300 million USD per quarter in 2021 to consistent spending between 400 and 600 million USD in later periods. Strategic investments are evident through ongoing APS investments and the 2025 acquisition of ChampionX Corporation. Funding for these activities was partially offset by the divestment of Liberty and ADC shares between 2021 and 2023, as well as the sale of APS projects and the ChampionX Drilling Technologies business in 2025.
Financing and Capital Allocation
A disciplined increase in shareholder distributions is observed, with quarterly dividend payments rising from 175 million USD in 2021 to 426 million USD by early 2026. Stock repurchase activity intensified significantly in 2024 and 2025, including a notable 2.3 billion USD outlay in March 2025. Debt management has been active, characterized by large-scale repayments—such as 1.65 billion USD in December 2022 and 1.578 billion USD in December 2023—interspersed with new debt issuances to maintain liquidity and fund acquisitions.
Liquidity and Net Cash Position
The net increase or decrease in cash fluctuates sharply due to the timing of large financing outflows and operational windfalls. While operating activities provide a strong foundation of liquidity, the aggressive pace of debt repayment, stock buybacks, and capital investments results in a highly variable quarterly net cash position.