Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Paying user area
Try for free
SLB N.V. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Geographic Areas
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to SLB N.V. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Short-term Activity Ratios (Summary)
SLB N.V., short-term (operating) activity 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 analysis of operating activity ratios indicates a cyclical trend in operational efficiency, characterized by a period of optimization that peaked in late 2024, followed by a gradual regression toward baseline levels by mid-2026.
- Inventory Management Efficiency
- Inventory turnover showed a consistent upward trend from 5.32 in March 2022, reaching a peak of 6.59 in September 2024. This indicates an improvement in the velocity of inventory movement, which is mirrored by the average inventory processing period decreasing from 69 days to a low of 55 days in December 2024. However, efficiency declined thereafter, with the turnover ratio falling to 5.58 and the processing period extending back to 65 days by June 2026.
- Receivables Collection Performance
- Receivables turnover remained relatively stable throughout the observed period, fluctuating within a narrow range between 3.87 and 4.53. The average receivable collection period exhibited similar stability, generally hovering around 90 days. A notable improvement in collection efficiency occurred between September and December 2024, where the collection period dropped to its minimum of 81 days, before returning to 92 days by June 2026.
- Working Capital and Operating Cycle Trends
- Working capital turnover exhibited the highest degree of volatility, with values shifting from a low of 5.75 in June 2024 to a peak of 10.14 in March 2025, suggesting significant fluctuations in the utilization of net current assets to generate revenue. The overall operating cycle followed a U-shaped trajectory; it tightened from 157 days in March 2022 to a minimum of 136 days in December 2024, then expanded back to 157 days by June 2026. This indicates that the gains in operational liquidity achieved during 2023 and 2024 were entirely offset by the end of the analyzed period.
Turnover Ratios
Average No. Days
Inventory Turnover
SLB N.V., inventory turnover 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
Inventory turnover
= (Cost of revenueQ2 2026
+ Cost of revenueQ1 2026
+ Cost of revenueQ4 2025
+ Cost of revenueQ3 2025)
÷ Inventories
= ( + + + )
÷ =
The analysis of operating activity indicates a period of increasing scale in both cost of revenue and inventory holdings, accompanied by a fluctuating trend in inventory turnover efficiency. While the organization experienced a steady improvement in inventory management through 2024, a subsequent decline in turnover ratios occurred throughout 2025 and the first half of 2026.
- Efficiency Gains and Peak Performance (2022–2024)
- A consistent upward trajectory in inventory turnover is observed from March 2022, where the ratio stood at 5.32, peaking at 6.59 by December 2024. During this interval, the cost of revenue grew from 5,013 million to 7,323 million. The increase in the turnover ratio suggests that the cost of revenue grew at a faster rate than the investment in inventory, indicating optimized inventory management and faster movement of goods during this expansion phase.
- Turnover Deceleration and Volatility (2025–2026)
- A reversal in efficiency is evident starting in early 2025. The inventory turnover ratio dropped from its peak, reaching a low of 5.36 in September 2025. Although a brief recovery to 5.80 occurred in December 2025, the ratio trended downward again to 5.58 by June 2026. This decline coincides with inventory levels reaching their highest points, peaking at 5,436 million in June 2026, suggesting that inventory accumulation began to outpace the growth in the cost of revenue.
- Cost of Revenue and Inventory Scaling
- The cost of revenue exhibited significant growth over the period, rising from 5,013 million in March 2022 to a maximum of 8,013 million in December 2025. Simultaneously, inventory levels rose from 3,719 million to 5,436 million. The divergence in the turnover ratio during the latter part of the period indicates that while the scale of operations increased, the relative efficiency of converting inventory into cost of sales diminished compared to the 2024 peak.
Receivables Turnover
SLB N.V., receivables turnover 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
Receivables turnover
= (RevenueQ2 2026
+ RevenueQ1 2026
+ RevenueQ4 2025
+ RevenueQ3 2025)
÷ Receivables less allowance for doubtful accounts
= ( + + + )
÷ =
The analysis of operating activity indicates a consistent relationship between revenue growth and the management of accounts receivable from March 2022 through June 2026. While both revenue and receivables increased substantially over this period, the receivables turnover ratio remained remarkably stable, suggesting that the company's credit and collection efficiency scaled proportionally with its business expansion.
- Revenue and Receivables Correlation
- A strong positive correlation is observed between revenue and receivables. Revenue grew from 5,962 million USD in March 2022 to a peak of 9,744 million USD in December 2025. Parallel to this growth, receivables less allowance for doubtful accounts rose from 5,713 million USD to a peak of 9,132 million USD by June 2026. This simultaneous increase indicates that the growth in sales was accompanied by a corresponding increase in the volume of outstanding credit extended to customers.
- Receivables Turnover Stability
- The receivables turnover ratio exhibited minimal volatility for the majority of the analyzed period, generally fluctuating between 3.90 and 4.20. This stability implies a consistent average collection period, demonstrating a disciplined approach to credit management despite the increase in overall scale of operations.
- Efficiency Peaks and Fluctuations
- A notable increase in collection efficiency occurred during the latter half of 2024, where the turnover ratio climbed from 4.08 in June 2024 to a peak of 4.53 by December 31, 2024. This represents the highest point of efficiency in the series, indicating a temporary acceleration in the conversion of receivables into cash. Following this peak, the ratio moderated, returning to a range of 3.87 to 4.11 throughout 2025.
- Recent Performance Trends
- In the final quarters of the analyzed period, specifically from March 2026 to June 2026, the receivables turnover ratio converged at 3.98. This alignment suggests that the company has returned to its long-term historical average for collection efficiency, maintaining a steady operational rhythm as revenues remained near the 9 billion USD threshold.
Working Capital Turnover
SLB N.V., working capital turnover 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
Working capital turnover
= (RevenueQ2 2026
+ RevenueQ1 2026
+ RevenueQ4 2025
+ RevenueQ3 2025)
÷ Working capital
= ( + + + )
÷ =
The analysis of short-term operating activity indicates a general expansion in both revenue and working capital over the observed period, though the efficiency of working capital utilization has exhibited significant volatility.
- Revenue Trends
- Revenue demonstrated a consistent upward trajectory, increasing from 5,962 million USD in March 2022 to a peak of 9,744 million USD in December 2025. While some quarterly fluctuations occurred, the overall trend reflects a sustained increase in operational scale through June 2026.
- Working Capital Dynamics
- Working capital grew from 2,557 million USD in March 2022 to 6,178 million USD by June 2026. This growth was characterized by periodic volatility, with notable peaks in June 2024 and June 2026, and a significant contraction in March 2025, where the value dropped to 3,559 million USD.
- Working Capital Turnover Analysis
- The working capital turnover ratio fluctuated considerably, ranging from a minimum of 5.75 in June 2024 to a maximum of 10.14 in March 2025. The peak efficiency observed in March 2025 resulted from a sharp decrease in working capital relative to revenue. Conversely, the declines in the ratio observed in June 2024 and June 2026 suggest periods where the growth of working capital assets and liabilities outpaced revenue growth, thereby reducing the turnover efficiency to 5.75 and 5.89, respectively.
Average Inventory Processing Period
SLB N.V., average inventory processing period 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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ =
An analysis of the inventory activity ratios reveals a distinct cycle of operational efficiency gains followed by a subsequent increase in the inventory processing timeframe. The relationship between inventory turnover and the average inventory processing period remains inversely correlated throughout the observed period.
- Inventory Processing Period Optimization
- Between March 2022 and December 2024, a consistent downward trend in the average inventory processing period is observed. The duration decreased from 69 days to a minimum of 55 days, indicating a significant acceleration in the movement of inventory from acquisition to sale.
- Inventory Turnover Performance
- Corresponding with the decrease in processing days, the inventory turnover ratio exhibited a steady increase, rising from 5.32 in March 2022 to a peak of 6.59 in December 2024. This suggests a period of heightened asset utilization and improved supply chain efficiency.
- Operational Reversal and Stabilization
- A reversal in the efficiency trend is evident starting in March 2025. The average inventory processing period increased sharply, reaching 68 days by September 2025, which coincided with a decline in inventory turnover to 5.36. In the final quarters ending in June 2026, the processing period stabilized at 65 days, returning the metric to levels similar to those recorded at the beginning of the analysis period.
Average Receivable Collection Period
SLB N.V., average receivable collection period 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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =
The analysis of short-term operating activity reveals a relatively stable trend in the collection of receivables, with the collection period oscillating primarily between 81 and 94 days over the observed timeframe. This suggests a consistent credit policy, although specific periods of increased and decreased efficiency are observable.
- Receivables Turnover Trends
- The receivables turnover ratio maintained a narrow range, fluctuating between a minimum of 3.87 and a maximum of 4.53. A notable upward trend in turnover efficiency occurred throughout 2024, peaking at 4.53 on December 31, 2024, which indicates an acceleration in the conversion of receivables into cash during that period.
- Average Receivable Collection Period Dynamics
- The collection period remained stable throughout 2022 and 2023, generally hovering between 86 and 93 days. A significant improvement in efficiency was recorded in 2024, where the collection period declined to a period-low of 81 days by December 31, 2024. This improvement was followed by a period of deterioration in 2025, with the collection period rising to a peak of 94 days by September 30, 2025, before stabilizing at 92 days through June 30, 2026.
- Operating Efficiency Correlation
- A consistent inverse correlation is observed between the receivables turnover ratio and the average collection period. The peak efficiency observed at the end of 2024 demonstrates the tightest alignment between sales and cash realization. The subsequent increase in the collection period during 2025 correlates with a decrease in the turnover ratio, reflecting a temporary slowing of the cash conversion cycle.
Operating Cycle
SLB N.V., operating cycle calculation (quarterly data)
No. days
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
Operating cycle = Average inventory processing period + Average receivable collection period
= + =
The operating cycle exhibits a fluctuating but generally cyclical pattern over the period from March 2022 to June 2026. A notable period of operational optimization occurred between early 2023 and late 2024, characterized by a contraction in the time required to convert assets into cash, followed by a moderate expansion of the cycle throughout 2025.
- Average Inventory Processing Period
- A consistent downward trend is observed from March 2022, where the period stood at 69 days, reaching a minimum of 55 days by December 31, 2024. This indicates a period of increasing efficiency in inventory turnover. However, this trend reversed in early 2025, with the processing period climbing to a peak of 68 days in September 2025 before stabilizing at 65 days by June 2026.
- Average Receivable Collection Period
- The collection period demonstrated higher relative stability compared to inventory, though it remained subject to quarterly volatility. The duration generally fluctuated between 81 and 94 days. Peak efficiency was achieved in December 2024, with a low of 81 days. Subsequently, collection times increased, peaking at 94 days in September 2025 and concluding the period at 92 days in June 2026.
- Operating Cycle Analysis
- The total operating cycle reflects the combined impact of inventory and receivable durations. From an initial 157 days in March 2022, the cycle compressed to a low of 136 days by December 31, 2024, marking the point of maximum short-term operating efficiency. The cycle then lengthened, peaking at 162 days in September 2025, before returning to its initial level of 157 days by June 2026. The correlation between the inventory and receivable components suggests that the overall cycle length is driven by simultaneous shifts in both asset management areas.