SLB N.V. (NYSE:SLB)

The financial data over the observed periods reveal notable trends in profitability, cash flows, investing, and financing activities.

Net Income (Loss)

Net income showed a marked improvement from significant losses in early 2020 towards consistent profitability beginning in late 2020. Quarterly net income increased gradually, reaching a peak in late 2023, followed by some fluctuations but maintaining generally positive values through 2025. This reflects stabilization and recovery in operating performance over the period.

Depreciation and Amortization

Depreciation and amortization expenses were relatively stable across the periods, ranging around the 500–650 million USD mark with a slight upward trend in later quarters, suggesting ongoing capital asset utilization and investment in intangible assets.

Charges and Credits

Charges and credits displayed volatility, with high positive values early in 2020 and intermittent negative adjustments. Recent periods showed moderate fluctuations, possibly reflecting periodic non-recurring items or operational adjustments.

Deferred Taxes

The deferred tax figures fluctuated within a range of approximately -80 to +100 million USD, without clear directional trends, indicating changes influenced by tax planning, timing differences, or underlying temporary differences affecting tax liabilities.

Stock-based Compensation Expense

Stock-based compensation expenses remained relatively stable, generally fluctuating between 70 and 110 million USD, indicating steady levels of employee compensation tied to stock awards.

Earnings from Equity Method Investments

This item generally oscillated around zero, with periods of small losses and gains, suggesting limited but variable influence of equity method investments on overall earnings.

Changes in Working Capital Components

The changes in receivables, inventories, and other current assets showed significant variability, with some quarters experiencing large decreases or increases, denoting active management or volatility in operational cycle items. Accounts payable and accrued liabilities increased notably in some periods, particularly in late 2021 and mid-2023, indicating possible shifts in payment timing or supplier negotiations.

Net Cash Provided by Operating Activities

Operating cash flow demonstrated a strong upward trajectory, especially from late 2020 onward, peaking around 3 billion USD per quarter in 2023. This indicates improved cash generation capabilities aligned with better net income performance.

Capital Expenditures and Investments

Capital expenditures fluctuated but generally remained substantial, illustrating continued investment in fixed and intangible assets. APS investments and exploration data costs maintained moderate but steady levels, indicating ongoing commitments to specific operational areas.

Investing Activities

Net cash used in investing activities was negative overall, with occasional quarters showing minor positive values due to asset sales or proceeds from divestitures. Periodic asset sales, including APS projects and business segments like ChampionX, contributed to cash inflows. However, net investing cash flow remained a cash outflow, consistent with reinvestment strategies.

Financing Activities

Financing cash flows were characterized by variability. The data show significant repayments of long-term debt in various periods contrasted with issuances in others, reflecting active debt management. Dividends were regularly paid, generally increasing over time. Stock repurchase programs were initiated in later periods with significant outflows, highlighting a return of capital to shareholders. Issuances and repayments indicate attempts to optimize capital structure.

Overall Cash Position

Net changes in cash balances were volatile, with periods of increase balanced by declines. Despite fluctuations, several quarters registered strong increases in cash, largely supported by positive operating cash flows and financing activities. Translation effects on cash were minor and inconsistent, having limited impact on overall cash trends.

In summary, the company demonstrated a transition from net losses toward consistent profitability and improved operating cash flows. Investment activities remained aggressive with ongoing capital expenditures, while financing activities reflect active capital structure optimization including debt refinancing, dividend payments, and share repurchase initiatives. Working capital exhibited variability, likely reflecting operational adjustments and market conditions. Overall, the financial trends suggest progressive strengthening of operations and disciplined financial management across the periods observed.