Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Long-term Activity Ratios (Summary)
SLB N.V., long-term (investment) activity ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Net fixed asset turnover | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset) | ||||||
| Total asset turnover | ||||||
| Equity turnover |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio demonstrates a consistent upward trend over the five-year period. Starting at 3.46 in 2020, it gradually increases each year, reaching 4.93 by 2024. This improvement indicates enhanced efficiency in utilizing net fixed assets to generate sales, reflecting better asset management or increased revenue generation relative to fixed assets.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- This ratio similarly shows a continuous increase from 3.13 in 2020 to 4.50 in 2024. Although consistently lower than the net fixed asset turnover without these assets, the trend suggests that when operating leases and right-of-use assets are included, the company still shows improved efficiency in asset utilization over time. The slightly more modest values compared to the standard measure may highlight the impact of lease accounting on the asset base.
- Total Asset Turnover
- The total asset turnover ratio exhibits a steady increase across the period, rising from 0.56 in 2020 to 0.74 in 2024. This upward movement points to progressive improvement in generating revenue from the company's total assets, indicating better overall asset productivity and potentially more effective asset allocation or increased sales activity.
- Equity Turnover
- Equity turnover reveals a less clear pattern but generally an upward trend after a dip. It falls from 1.96 in 2020 to 1.53 in 2021, then experiences a gradual recovery, climbing back to 1.72 by 2024. This suggests initially declining efficiency in utilizing shareholder equity to generate sales, followed by a steady improvement towards more effective equity use in generating revenue.
Net Fixed Asset Turnover
SLB N.V., net fixed asset turnover calculation, comparison to benchmarks
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Net fixed asset turnover = Revenue ÷ Fixed assets less accumulated depreciation
= ÷ =
- Revenue Trends
-
Revenue demonstrated a consistent upward trajectory between 2020 and 2024. Starting at approximately 23.6 billion US dollars in 2020, it experienced a slight decrease in 2021, falling to around 22.9 billion. However, from 2021 onwards, revenue grew substantially each year, reaching about 28.1 billion in 2022, 33.1 billion in 2023, and culminating at nearly 36.3 billion in 2024. This pattern indicates a strong recovery and accelerated growth in recent periods.
- Fixed Assets Net of Accumulated Depreciation
-
Net fixed assets decreased slightly from 6.8 billion US dollars in 2020 to 6.4 billion in 2021. Following that, a gradual increase was observed, rising to approximately 6.6 billion in 2022, then to 7.2 billion in 2023, and 7.4 billion by 2024. This suggests ongoing investment in fixed assets, although the initial decrease highlights possible asset disposals or accelerated depreciation effects in 2021.
- Net Fixed Asset Turnover Ratio
-
The net fixed asset turnover ratio consistently improved from 3.46 in 2020 to 4.93 in 2024. This rise indicates enhanced efficiency in utilizing net fixed assets to generate revenue. The steady increase each year alongside revenue growth and moderate expansion in net fixed assets reflects stronger asset productivity and operational effectiveness.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
SLB N.V., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Fixed assets less accumulated depreciation (including operating lease, right-of-use asset)
= ÷ =
- Revenue
- The revenue exhibited a generally increasing trend over the five-year period. Starting at $23,601 million at the end of 2020, there was a slight decrease in 2021 to $22,929 million. However, from 2021 onwards, revenue rose steadily, reaching $28,091 million in 2022, then $33,135 million in 2023, and further increasing to $36,289 million in 2024. This reflects a strong recovery and significant growth after a minor dip in 2021.
- Fixed Assets Less Accumulated Depreciation
- The net value of fixed assets showed some fluctuation but remained relatively stable with a modest upward trend. It decreased from $7,536 million in 2020 to $6,982 million in 2021, followed by a slight increase to $7,145 million in 2022. There was a more notable increase in the subsequent years, reaching $7,958 million in 2023 and $8,061 million in 2024. This indicates ongoing investment or capital expenditure activities contributing to asset growth after an initial dip.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio demonstrated a clear improvement each year, rising from 3.13 in 2020 to 4.50 in 2024. This indicates greater efficiency in generating revenue from the fixed asset base over time. The steady increase suggests that the company has been optimizing the use of its assets or benefiting from revenue growth outpacing asset growth.
- Overall Analysis
- Overall, the data reflects a recovery and growth phase starting in 2022 after a period of slight revenue decline and asset reduction in 2021. The increase in revenue alongside stable or slightly increasing fixed assets resulted in improved asset utilization efficiency, as evidenced by the rising net fixed asset turnover ratio. The trends suggest effective asset management and successful top-line expansion during this period.
Total Asset Turnover
SLB N.V., total asset turnover calculation, comparison to benchmarks
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Total asset turnover = Revenue ÷ Total assets
= ÷ =
The financial data reveals notable trends in key performance indicators over the five-year period. The revenue exhibited consistent growth, rising from $23,601 million in 2020 to $36,289 million in 2024. This upward trajectory suggests an expanding business scale and possibly increasing market demand or improved sales strategies.
Total assets showed a more moderate increase, starting at $42,434 million in 2020 and reaching $48,935 million in 2024. While the asset base expanded, the growth pace was less steep compared to revenue growth, indicating relatively efficient utilization of assets.
This efficiency is further confirmed by the total asset turnover ratio, which improved steadily from 0.56 in 2020 to 0.74 in 2024. The increase in this ratio signals a better conversion of asset investment into sales revenue over time, reflecting positively on operational performance and asset management.
- Revenue
- Demonstrated continuous growth each year, with an overall increase of approximately 54% over the five-year span.
- Total Assets
- Grew at a moderate pace, increasing by about 15% in the same timeframe.
- Total Asset Turnover Ratio
- Consistently improved, indicating enhanced efficiency in using assets to generate revenue, with an increase from 0.56 to 0.74.
Overall, the data indicates robust revenue growth accompanied by effective asset utilization. The combination of rising revenue and improving asset turnover ratio suggests strengthened operational efficiency and potentially sound management of resources. These trends are favorable indicators for the financial health and performance efficiency of the company in the analyzed period.
Equity Turnover
SLB N.V., equity turnover calculation, comparison to benchmarks
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Equity turnover = Revenue ÷ Total SLB stockholders’ equity
= ÷ =
The financial data reveals several noteworthy trends in revenue, equity, and efficiency ratios over the five-year period analyzed.
- Revenue Growth
- Revenue exhibited a consistent upward trajectory, increasing from $23.6 billion in 2020 to $36.3 billion in 2024. This represents a compound growth trend, with the most pronounced annual increase observed between 2021 and 2022, and continuing steady growth in subsequent years. The sustained rise in revenue signals expanding operational scale or enhanced market penetration.
- Total Stockholders’ Equity
- Total stockholders’ equity showed a strong ascending trend from $12.1 billion in 2020 to $21.1 billion in 2024. The equity base expanded steadily each year, indicating retained earnings accumulation, successful capital management, or possibly equity issuance contributing to a stronger financial position over time.
- Equity Turnover Ratio
- The equity turnover ratio, which measures how efficiently the company uses equity to generate revenue, declined from 1.96 in 2020 to 1.53 in 2021. However, it subsequently improved each year, reaching 1.72 in 2024. This suggests an initial reduction in operational efficiency relative to equity followed by a recovery and strengthened utilization of equity capital to drive revenue growth.
Overall, the data indicates that the company has been achieving robust revenue expansion accompanied by a steady increase in equity capital. While the equity turnover ratio experienced a dip early in the period, the gradual improvement thereafter points to enhanced efficiency in leveraging equity for revenue generation. These trends collectively reflect positive financial health and operational performance improvements over the analyzed timeframe.