Stock Analysis on Net

Schlumberger Ltd. (NYSE:SLB)

$24.99

Analysis of Geographic Areas

Microsoft Excel

Schlumberger Ltd. operates in 4 regions: North America; Latin America; Europe & Africa; and Middle East & Asia.

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Area Asset Turnover

Schlumberger Ltd., asset turnover by geographic area

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
North America
Latin America
Europe & Africa
Middle East & Asia

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).


North America
The asset turnover ratio in North America exhibited a decline from 3.45 in 2020 to 3.26 in 2021. This was followed by a notable increase reaching 4.11 in 2022, then further rising to a peak of 4.58 in 2023. However, in 2024, the ratio decreased to 3.7, indicating some variability but generally showing improvement compared to the initial values in 2020 and 2021.
Latin America
Latin America displayed a consistent upward trend throughout the period. Starting at 4.13 in 2020, the ratio increased steadily each year to 5.14 in 2021, 6.2 in 2022 and 2023, and further to 6.44 in 2024. The data points to continuous improvement in asset turnover in this region, with stability observed between 2022 and 2023 before increasing again in 2024.
Europe & Africa
Europe & Africa also showed a positive trajectory over the five years. Beginning at 3.24 in 2020, the ratios gradually rose to 3.42 in 2021, 4.32 in 2022, and reached 4.94 in 2023. The highest level in the observed period was attained in 2024 at 5.62. This steady and substantial growth suggests improving efficiency in asset utilization within this geographic segment.
Middle East & Asia
The Middle East & Asia region showed moderate but consistent growth in asset turnover ratios. From 3.64 in 2020, it increased steadily each year to 3.93 in 2021, 4.3 in 2022, 4.46 in 2023, and 4.67 in 2024. Although the increase is less dramatic compared to other regions, the consistent upward trend indicates incremental improvements in asset efficiency.
Overall Trends
Across all regions, asset turnover ratios have demonstrated general improvement over the five-year period, with Latin America and Europe & Africa exhibiting the most significant gains. North America experienced some fluctuation with a dip at the end of the period after peaking in 2023. The Middle East & Asia region maintained steady but modest growth. These trends suggest focused regional variations in operational efficiency and asset utilization, possibly reflecting local market conditions or strategic priorities.

Area Asset Turnover: North America

Schlumberger Ltd.; North America; area asset turnover calculation

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Revenue
Fixed Assets less accumulated depreciation
Area Activity Ratio
Area asset turnover1

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
Area asset turnover = Revenue ÷ Fixed Assets less accumulated depreciation
= ÷ =


Revenue
The revenue experienced a decline from 5478 million US dollars in 2020 to 4466 million in 2021, indicating a significant downturn. Following this decrease, revenue rebounded sharply to 5995 million in 2022 and continued to grow to 6727 million in 2023. However, in 2024, there was a slight reduction to 6680 million, signaling a near stabilization but with potential early signs of decrease.
Fixed Assets Less Accumulated Depreciation
The net value of fixed assets decreased from 1588 million US dollars in 2020 to 1368 million in 2021, reflecting either asset disposals or increased depreciation. This was followed by a moderate recovery in 2022 and 2023, with values rising to 1459 million and 1469 million respectively. A more pronounced increase occurred in 2024, reaching 1805 million, which may indicate substantial investments in property, plant, or equipment during that year.
Area Asset Turnover
The area asset turnover ratio, which measures the efficiency of asset use to generate revenue, declined slightly from 3.45 in 2020 to 3.26 in 2021. It then improved significantly in 2022 and 2023, climbing to 4.11 and 4.58 respectively, suggesting enhanced operational efficiency or better asset utilization. In 2024, the ratio dropped to 3.7, indicating a decrease in efficiency compared to the previous two years, but still above the levels seen in 2020 and 2021.

Area Asset Turnover: Latin America

Schlumberger Ltd.; Latin America; area asset turnover calculation

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Revenue
Fixed Assets less accumulated depreciation
Area Activity Ratio
Area asset turnover1

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
Area asset turnover = Revenue ÷ Fixed Assets less accumulated depreciation
= ÷ =


The financial data for the Latin America region over the five-year period reveals distinct growth and operational efficiency trends. Revenue exhibited a consistent upward trajectory, starting from US$3,472 million in 2020 and increasing steadily each year to reach US$6,719 million by 2024. This represents nearly a doubling in revenue over the period, indicating strong sales growth or market expansion within the region.

Fixed assets, net of accumulated depreciation, showed a moderate increase from US$841 million in 2020 to US$1,044 million in 2024. The asset base grew gradually without significant volatility, suggesting ongoing investment in long-term assets but at a controlled pace relative to revenue growth.

Operational efficiency, as measured by the area asset turnover ratio, demonstrated notable improvement. The ratio increased from 4.13 in 2020 to 6.44 in 2024, reflecting that the Latin America segment has become more effective in generating revenue from its asset base. This increase in asset turnover indicates enhanced asset utilization and operational productivity over the period.

In summary, the data shows a robust revenue growth supported by steady asset investment and increasing asset efficiency. The combination of rising revenues and improved asset turnover suggests that the area's management has successfully leveraged its assets to generate higher sales, thereby improving overall financial performance in the Latin America region.


Area Asset Turnover: Europe & Africa

Schlumberger Ltd.; Europe & Africa; area asset turnover calculation

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Revenue
Fixed Assets less accumulated depreciation
Area Activity Ratio
Area asset turnover1

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
Area asset turnover = Revenue ÷ Fixed Assets less accumulated depreciation
= ÷ =


Revenue
The revenue from the Europe & Africa geographic area demonstrates a generally increasing trend over the five-year period. Starting at $5,963 million in 2020, revenue slightly declined to $5,778 million in 2021. However, from 2021 onwards, there is a consistent and notable increase each year, reaching $7,201 million in 2022, $8,524 million in 2023, and peaking at $9,671 million in 2024. This represents a significant growth trajectory from 2021 through 2024.
Fixed Assets Less Accumulated Depreciation
The net value of fixed assets shows a gradual decline from 2020 to 2022, decreasing from $1,840 million to $1,668 million. In 2023, this value slightly recovers to $1,724 million but then remains relatively stable, with a minimal decrease to $1,721 million in 2024. Overall, fixed assets net value has exhibited a modest downward trend with a period of stabilization in the later years.
Area Asset Turnover
The ratio of area asset turnover exhibits a steady and marked improvement over the time frame. Starting at 3.24 in 2020, the ratio increases marginally to 3.42 in 2021. Following this, there is a strong acceleration in turnover efficiency, with ratios climbing to 4.32 in 2022, 4.94 in 2023, and reaching 5.62 in 2024. This suggests increasingly effective utilization of assets in generating revenue within this geographic segment.
Summary
Overall, the data indicate a positive performance trend in the Europe & Africa region, characterized by increasing revenue and enhanced asset turnover efficiency. While the net fixed assets have experienced a slight decline and subsequent stabilization, the company appears to be successfully leveraging its asset base more efficiently, resulting in higher revenue generation relative to asset value over time. The substantial rise in area asset turnover ratio highlights improved operational productivity and asset management in this geographic area.

Area Asset Turnover: Middle East & Asia

Schlumberger Ltd.; Middle East & Asia; area asset turnover calculation

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Revenue
Fixed Assets less accumulated depreciation
Area Activity Ratio
Area asset turnover1

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
Area asset turnover = Revenue ÷ Fixed Assets less accumulated depreciation
= ÷ =


Revenue
The revenue in the specified geographic area exhibited a generally upward trend over the five-year period. Starting at 8,567 million US dollars in 2020, revenue declined slightly to 8,059 million in 2021. However, from 2021 onwards, revenue steadily increased, reaching 9,033 million in 2022, followed by a significant rise to 11,019 million in 2023, and further growth to 13,026 million in 2024. This suggests a strong recovery and expansion in business activities in the Middle East & Asia region during the latter years.
Fixed Assets less Accumulated Depreciation
The net fixed assets showed some fluctuations but maintained an overall increasing trajectory. The value decreased from 2,353 million US dollars in 2020 to 2,049 million in 2021, indicating possible asset disposals or higher depreciation. Following this dip, the asset base grew to 2,099 million in 2022, then increased more substantially to 2,468 million in 2023 and 2,789 million in 2024. The growth in net fixed assets potentially reflects capital investments or asset acquisitions aligned with revenue growth.
Area Asset Turnover
The area asset turnover ratio, which measures revenue generated per unit of fixed assets, improved consistently over the five years. It rose from 3.64 in 2020 to 3.93 in 2021 and continued increasing through 4.30 in 2022, 4.46 in 2023, and ultimately 4.67 in 2024. This pattern indicates enhanced efficiency in utilizing fixed assets to generate revenue in the region. The increasing ratio, even as fixed assets grew, suggests effective asset management and possibly higher productivity or improved operational performance.

Revenue

Schlumberger Ltd., revenue by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
North America
Latin America
Europe & Africa
Middle East & Asia
Eliminations & other
Total

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).


North America Revenue Trend
Revenue from North America showed an initial decline from US$5,478 million in 2020 to US$4,466 million in 2021. However, it subsequently increased to US$5,995 million in 2022 and further to US$6,727 million in 2023. In 2024, there was a slight decrease to US$6,680 million. Overall, the region demonstrates recovery and growth after a dip in 2021, stabilizing at a higher level than the 2020 baseline by 2023 and 2024.
Latin America Revenue Trend
Latin America experienced continuous revenue growth throughout the analyzed period. Starting at US$3,472 million in 2020, revenues increased steadily each year, reaching US$4,459 million in 2021, US$5,661 million in 2022, US$6,645 million in 2023, and US$6,719 million in 2024. The trend is strongly positive, with the region more than doubling its revenue in four years.
Europe & Africa Revenue Trend
Revenues in Europe & Africa slightly decreased from US$5,963 million in 2020 to US$5,778 million in 2021. Thereafter, there was a marked increase year over year, reaching US$7,201 million in 2022, US$8,524 million in 2023, and US$9,671 million in 2024. The overall direction is a strong upward trajectory following a minor setback in 2021.
Middle East & Asia Revenue Trend
Middle East & Asia consistently posted the highest revenue among all regions each year. Revenues started at US$8,567 million in 2020, then declined to US$8,059 million in 2021. Afterward, the revenue figures rose substantially to US$9,033 million in 2022, US$11,019 million in 2023, and US$13,026 million in 2024. This region shows robust growth, particularly in the last three years.
Eliminations & Other
The category of Eliminations & Other saw moderate increases from US$121 million in 2020 to US$220 million in 2023, before a slight decline to US$193 million in 2024. The amounts remain much smaller compared to geographic segments and have minimal impact on total revenue.
Total Revenue Analysis
Total revenues showed a minor decline from US$23,601 million in 2020 to US$22,929 million in 2021. Subsequently, total revenues exhibited strong growth each year, reaching US$28,091 million in 2022, US$33,135 million in 2023, and US$36,289 million in 2024. The data suggest recovery after 2021, followed by sustained expansion consistent across all major regions.

Fixed Assets less accumulated depreciation

Schlumberger Ltd., fixed assets less accumulated depreciation by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
North America
Latin America
Europe & Africa
Middle East & Asia
Unallocated
Total

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).


North America
The fixed assets less accumulated depreciation in North America showed a decline from 1588 million US$ in 2020 to 1368 million US$ in 2021. This was followed by a modest recovery to 1459 million US$ in 2022 and remained relatively stable in 2023 at 1469 million US$. A notable increase occurred in 2024, reaching 1805 million US$, suggesting renewed investment or asset additions in this region.
Latin America
There was a steady upward trend in Latin America from 841 million US$ in 2020 to 868 million US$ in 2021, continuing to 913 million US$ in 2022. The growth accelerated in 2023 with an increase to 1071 million US$, but slightly declined to 1044 million US$ in 2024. Overall, Latin America experienced gradual asset growth with a minor dip at the end of the period.
Europe & Africa
The values for Europe & Africa declined from 1840 million US$ in 2020 to 1690 million US$ in 2021, following a marginal decrease to 1668 million US$ in 2022. A recovery phase occurred in 2023 with assets increasing to 1724 million US$, but this was followed by a slight decrease to 1721 million US$ in 2024. The trend indicates relative stability with mild fluctuations over the five-year period.
Middle East & Asia
The Middle East & Asia region exhibited a consistent upward trend from 2353 million US$ in 2020 to 2049 million US$ in 2021, followed by a slight increase to 2099 million US$ in 2022. A significant increase was observed in 2023 at 2468 million US$, continuing to rise to 2789 million US$ in 2024. This pattern indicates strong asset growth and possibly increased capital expenditure in this region.
Unallocated
Unallocated assets showed a marked increase from 204 million US$ in 2020 to 454 million US$ in 2021. This upward progression continued modestly to 468 million US$ in 2022 and 508 million US$ in 2023. Data for 2024 is missing; however, the increase in preceding years may reflect reclassification or growth in assets not attributed to a specific geographic area.
Total
The total fixed assets less accumulated depreciation initially declined from 6826 million US$ in 2020 to 6429 million US$ in 2021. It rebounded to 6607 million US$ in 2022, followed by a more pronounced increase to 7240 million US$ in 2023, and a slight rise to 7359 million US$ in 2024. This overall upward trend signifies asset growth across the company, driven primarily by increases in Middle East & Asia and North America regions.