Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
SLB N.V., liquidity ratios (quarterly data)
Based on: 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).
The liquidity profile demonstrates a consistent ability to meet short-term obligations, characterized by stability and a recurring cyclical pattern across the observed period. All three liquidity metrics remain within a controlled range, suggesting a disciplined approach to working capital management.
- Current Ratio
- The current ratio consistently remains above 1.20, indicating a comfortable margin of safety. A general upward trend was observed from March 2022 (1.24) until it peaked at 1.49 in June 2024. Following this peak, the ratio experienced a moderate decline to 1.24 in March 2025, before recovering to 1.44 by June 2026. This fluctuation suggests a seasonal or project-based cycle in the management of current assets and liabilities.
- Quick Ratio
- The quick ratio exhibits a closely mirrored trend to the current ratio but maintains a lower baseline, typically oscillating between 0.78 and 0.94. A notable period of strength occurred between June 2024 and September 2024, where the ratio reached its peak of 1.02 and 1.00, respectively. For the majority of the timeframe, the ratio remains below 1.0, suggesting that a portion of current assets is held in less liquid forms, such as inventory.
- Cash Ratio
- The cash ratio remains the most conservative metric, ranging from a low of 0.20 in March 2023 to a high of 0.36 in December 2024. A gradual increase in cash positioning was evident through 2022 and 2023, peaking at the end of 2024 before stabilizing between 0.23 and 0.29 in 2025 and 2026. This indicates a stable maintainance of highly liquid assets relative to short-term debt.
Analysis of the spread between the current and quick ratios reveals a consistent gap of approximately 0.4 to 0.5 units, implying that inventory levels remain relatively stable as a component of total current assets. The synchronized movement of all three ratios suggests that changes in liquidity are driven by broader shifts in current liabilities or total asset movements rather than isolated changes in cash or inventory levels.
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Current Ratio
SLB N.V., current ratio calculation (quarterly data)
Based on: 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).
1 Q2 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 20,244 ÷ 14,066 = 1.44
The liquidity position exhibits a general trend of expansion in both current assets and current liabilities over the analyzed period, with the current ratio remaining consistently above 1.0. This indicates a sustained ability to cover short-term obligations with short-term assets.
- Current Assets Growth
- A steady upward trajectory is observed in current assets, rising from 13,253 million USD in March 2022 to 20,244 million USD by June 2026. The growth is largely consistent, with a significant acceleration occurring between December 2023 and June 2024, and continuing through the final periods of the analysis.
- Current Liabilities Volatility
- Current liabilities increased from 10,696 million USD in March 2022 to 14,066 million USD in June 2026. While the general trend is upward, a notable spike occurred in March 2025, where liabilities reached a peak of 15,036 million USD before correcting downward in subsequent quarters.
- Current Ratio Fluctuations
- The current ratio fluctuated within a range of 1.24 to 1.49. A peak liquidity position was reached in June 2024 at 1.49. A subsequent decline to 1.24 in March 2025 corresponds directly with the peak in current liabilities during that same period. Following this dip, the ratio recovered steadily, reaching 1.44 by June 2026.
- Liquidity Stability Analysis
- The maintenance of the ratio above 1.20 for the majority of the timeline suggests a stable liquidity buffer. The correlation between the spike in liabilities and the dip in the current ratio in early 2025 indicates a temporary increase in short-term funding requirements or obligations that was successfully managed, as evidenced by the subsequent return to higher ratio levels.
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Quick Ratio
SLB N.V., quick ratio calculation (quarterly data)
Based on: 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).
1 Q2 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 13,203 ÷ 14,066 = 0.94
The liquidity position exhibits a general upward trajectory in quick assets alongside a corresponding increase in current liabilities, resulting in a quick ratio that fluctuates primarily between 0.78 and 1.02 over the observed period.
- Quick Ratio Evolution
- The quick ratio demonstrated a steady improvement from 0.78 in March 2022 to a peak of 1.02 in June 2024, indicating a period where liquid assets grew at a faster rate than short-term obligations. A subsequent decline to 0.83 in March 2025 marks a temporary contraction in immediate liquidity, followed by a gradual recovery to 0.94 by June 2026.
- Quick Asset Trends
- Total quick assets showed consistent growth, increasing from 8,362 million USD in March 2022 to 13,203 million USD by June 2026. This expansion reflects a sustained accumulation of highly liquid resources over the analyzed timeframe.
- Current Liability Analysis
- Current liabilities trended upward from 10,696 million USD in early 2022 to 14,066 million USD by mid-2026. A significant spike is observed in March 2025, where liabilities reached 15,036 million USD; this specific increase is the primary driver for the sharp dip in the quick ratio during the first quarter of 2025.
- Liquidity Correlation
- The relationship between assets and liabilities suggests a cyclical pattern of liquidity management. The breach of the 1.0 threshold in mid-2024 indicates a period of high short-term solvency, while the subsequent volatility in 2025 suggests a strategic shift or an increase in short-term financing that was later stabilized by further asset growth through 2026.
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Cash Ratio
SLB N.V., cash ratio calculation (quarterly data)
Based on: 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).
1 Q2 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 4,071 ÷ 14,066 = 0.29
The analysis of the liquidity position reveals a fluctuating cash ratio that consistently remains below 1.0, indicating that cash assets alone are insufficient to cover the total current liabilities at any single point in the analyzed period.
- Cash Ratio Volatility and Peaks
- The cash ratio exhibited a cyclical pattern, with a notable period of growth spanning from March 2023 to December 2024. During this interval, the ratio climbed from a low of 0.20 to a peak of 0.36. This improvement was primarily driven by a steady accumulation of total cash assets, which rose from $2.504 billion in March 2023 to a high of $4.669 billion by September 30, 2024.
- Current Liability Expansion
- Current liabilities showed a general upward trend over the long term, increasing from $10.696 billion in March 2022 to a peak of $15.036 billion in March 2025. The growth in short-term obligations has exerted downward pressure on the cash ratio, necessitating higher cash balances to maintain a stable liquidity profile.
- Recent Performance and Forecasted Trends
- A period of increased instability is observed between March 2025 and June 2026. After the peak in late 2024, the cash ratio declined to 0.26 and reached a subsequent low of 0.23 in March 2026. This decline coincides with a reduction in cash assets to $3.387 billion. However, a recovery to 0.29 was recorded by June 30, 2026, as cash assets increased back to $4.071 billion while current liabilities slightly decreased to $14.066 billion.
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