Stock Analysis on Net

SLB N.V. (NYSE:SLB)

$24.99

Enterprise Value (EV)

Microsoft Excel

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Current Enterprise Value (EV)

SLB N.V., current enterprise value calculation

Microsoft Excel
Current share price (P)
No. shares of common stock outstanding
US$ in millions
Common equity (market value)1
Add: Noncontrolling interests (per books)
Total equity
Add: Short-term borrowings and current portion of long-term debt (per books)
Add: Long-term debt, excluding current portion (per books)
Total equity and debt
Less: Cash
Less: Short-term investments
Enterprise value (EV)

Based on: 10-K (reporting date: 2024-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


Historical Enterprise Value (EV)

SLB N.V., EV calculation

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Share price1, 2
No. shares of common stock outstanding1
US$ in millions
Common equity (market value)3
Add: Noncontrolling interests (book value)
Total equity
Add: Short-term borrowings and current portion of long-term debt (book value)
Add: Long-term debt, excluding current portion (book value)
Total equity and debt
Less: Cash
Less: Short-term investments
Enterprise value (EV)

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 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of SLB N.V. Annual Report.

3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


The financial data across the five-year period reveals notable fluctuations in the company's equity values and overall valuation metrics. Several trends and changes are evident when analyzing the data sequentially.

Common Equity (Market Value)
The market value of common equity showed a substantial increase from 30,367 million USD at the end of 2020 to a peak of 79,886 million USD in 2022. Following this peak, it declined to 73,753 million USD in 2023 and further decreased to 58,317 million USD by the end of 2024. This pattern indicates significant market appreciation in the first three years, with a marked correction or reduced market confidence in the last two years.
Total Equity
Total equity followed a trend closely aligned with the common equity market value. It increased markedly from 30,785 million USD in 2020 to a high of 80,190 million USD in 2022, before retreating to 74,923 million USD in 2023 and then to 59,537 million USD in 2024. The alignment suggests stability in the book value underpinning the market value movement and indicates potential changes in retained earnings, capital injections, or other comprehensive income impacts contributing to the swings.
Total Equity and Debt
The combined total of equity and debt rose steadily from 47,671 million USD in 2020 to 92,416 million USD in 2022, signaling an overall expansion of the company's capital structure. After 2022, there was a decrease to 86,888 million USD in 2023 and further reduction to 71,611 million USD in 2024. This pattern suggests a reduction in the overall funding base or possible deleveraging after a phase of growth or acquisition investments.
Enterprise Value (EV)
Enterprise value experienced growth from 44,665 million USD at the end of 2020 to a peak of 89,522 million USD in 2022. Subsequently, it decreased to 82,899 million USD in 2023 and further declined to 66,942 million USD by the end of 2024. The EV trend closely tracks the shifts observed in equity and debt, reflective of changes in market capitalization, debt levels, and potentially underlying earnings prospects or market sentiment.

Overall, the company exhibited a strong growth trajectory through 2022, supported by significant increases in equity market valuation and expanded capital structure. However, the last two years indicate a reversal with reductions in equity values, total funding, and enterprise value. This shift could be indicative of changing market conditions, operational challenges, or strategic recalibration leading to lower valuation levels and contraction in capital employed.