SLB N.V. (NYSE:SLB)

Current Ratio

The current ratio shows moderate fluctuations over the observed periods, generally staying above 1.2. It starts at 1.3 and experiences a slight dip towards the end of 2021, reaching its lowest point at 1.22. Subsequently, it sees a recovery trend with peaks around mid-2024 at 1.49 and a minor decline towards the latter quarters, ending at approximately 1.39. Overall, the current ratio suggests a stable short-term liquidity position, with some variability likely reflecting operational or seasonal influences.

Quick Ratio

The quick ratio follows a pattern similar to the current ratio but remains consistently lower, reflecting a more conservative liquidity measure excluding inventory. It begins at 0.83 and shows an improving trend, peaking near 1.02 in mid-2024. Thereafter, it slightly declines but maintains levels close to or above 0.9 towards the end of the period. This indicates an improving capacity to cover immediate liabilities without relying on inventory sales, enhancing short-term financial flexibility over time.

Cash Ratio

The cash ratio exhibits more volatility compared to the other liquidity ratios, fluctuating between approximately 0.2 and 0.36. It starts near 0.29 and decreases slightly towards late 2021 and early 2022, hitting a low around 0.24. A recovery phase is observed, with the ratio peaking at 0.36 around late 2024. The subsequent decline near the end of the latest period suggests variability in cash reserves relative to current liabilities, indicating periods of both stronger and more constrained immediate cash availability.

Current Assets

The current assets demonstrate a generally upward trajectory over the observed periods. Beginning at approximately $12.8 billion in the first quarter of 2021, they increased steadily with some fluctuations, reaching around $19.5 billion by the third quarter of 2025. Notable increments occurred particularly between March 2022 and September 2022, and again from June 2023 through September 2024, indicating growth in readily liquid or short-term resources available to the company.

Current Liabilities

Current liabilities also showed an increasing trend, though with somewhat more volatility compared to current assets. Starting at roughly $9.9 billion in early 2021, liabilities rose irregularly, peaking at about $15.0 billion in mid-2025. The increases were particularly marked during late 2024 and mid-2025. However, some quarters exhibited a slight decline or stabilization, notably around early to mid-2024 and late 2025, suggesting changes in short-term obligations or payables management.

Current Ratio

The current ratio fluctuated within a moderate range across the periods. Initially recorded near 1.3 in early 2021, it showed some variability with highs reaching up to 1.49 in mid-2024 and lows dropping to approximately 1.22 at the end of 2021. The ratio mostly remained above 1.2, indicating that the company's short-term assets consistently exceeded its short-term liabilities, maintaining reasonable liquidity. The increase in the current ratio during 2024 suggests a strengthening liquidity position, though it slightly declined again in 2025, reflecting a more balanced or tightened short-term financial stance.

Overall Insight

The data reveals a consistent expansion in both current assets and current liabilities over the analyzed timeframe, with current assets generally growing at a pace that sustains or slightly improves the liquidity ratios. Despite fluctuations, the company maintained a current ratio above 1, signaling an ability to meet short-term obligations. The periods of particularly stronger liquidity in 2024 may reflect strategic asset accumulation or liability management. Conversely, the slight decrease in liquidity metrics in 2025 could warrant attention to ensure continued short-term financial stability.

The analysis of the quarterly financial data reveals several notable trends in the liquidity position of the company over the observed periods.

Total Quick Assets

Total quick assets show a generally increasing trend from the first quarter of 2021 through the end of 2025. Starting at approximately 8,179 million US dollars, quick assets rose steadily, peaking in the range of 12,700 million US dollars by the third quarter of 2024, before experiencing a slight decrease and then fluctuation around 12,300-12,700 million US dollars towards the end of the period.

Current Liabilities

Current liabilities fluctuate more noticeably throughout the periods. Initial figures start at 9,873 million US dollars in the first quarter of 2021 and show a series of increases and decreases. A significant upward movement is observed towards 2025, reaching over 15,000 million US dollars in mid-2025 before a reduction to around 14,000 million US dollars by the third quarter of 2025. This increase in liabilities towards the latter periods is notable and suggests increased short-term obligations.

Quick Ratio

The quick ratio exhibits variability throughout the timeline, reflecting the relationship between quick assets and current liabilities. Initially, the ratio fluctuates around 0.8 to 0.9, indicating quick assets cover about 80% to 90% of current liabilities. A gradual improvement is observed in 2023 and into mid-2024, where values reach and slightly exceed 1.0, suggesting that quick assets temporarily matched or slightly exceeded current liabilities, indicating improved short-term liquidity.

However, this improvement is not sustained, as the ratio declines back to approximately 0.83 to 0.9 in 2025, implying a reduced capacity to cover current liabilities with more liquid assets. This fluctuation in the quick ratio signals varied liquidity management or changing business conditions affecting short-term financial stability.

Overall, while quick assets have grown consistently, current liabilities have increased at a faster rate in recent quarters, which has exerted downward pressure on the quick ratio. The temporary improvement in liquidity during 2023 and early 2024 suggests some periods of better financial health, but this was followed by a decline, indicating possible increased short-term financing needs or operational changes affecting liquidity management. Close monitoring and possibly strategic adjustments may be necessary to maintain a satisfactory liquidity position moving forward.

The financial data over the observed periods indicate several notable trends related to liquidity and short-term financial positioning.

Total Cash Assets

Total cash assets show a fluctuating pattern over the examined quarters. Starting at approximately 2.9 billion US dollars in early 2021, cash levels decreased slightly around mid-2021 before increasing towards the end of that year and into early 2022. Following this, there is a significant rise in cash assets reaching a peak near the end of 2023, with the highest point around 4.7 billion US dollars in late 2024. However, from this peak, there is a declining trend toward early 2025, with cash assets falling to about 3.6 billion US dollars by the third quarter of 2025. This indicates periods of both accumulation and utilization of cash within the company’s operations.

Current Liabilities

Current liabilities have displayed a consistent upward trend throughout the period. Beginning at about 9.9 billion US dollars in early 2021, liabilities rose steadily, peaking at approximately 15 billion US dollars by mid-2025. This increase suggests expanding short-term obligations, possibly driven by business growth or increasing operational expenses. The steady rise in current liabilities, without large fluctuations, suggests the company has consistently taken on more short-term debt or payables over time.

Cash Ratio

The cash ratio, which measures the company's ability to cover current liabilities with cash assets, shows variability that aligns with the movements in both cash assets and current liabilities. Initially, the ratio hovers around 0.3 in early 2021, indicating the company had about 30% cash coverage for its current liabilities. There is a notable dip in the ratio in late 2022 and early 2023, falling to about 0.2, suggesting a tighter liquidity position relative to obligations. The ratio then recovers, reaching peaks around 0.35–0.36 in late 2024 but declines again toward approximately 0.26 by mid-2025. Overall, the cash ratio remains below 0.4, signaling that the company consistently holds less than half of its current liabilities in immediate cash and equivalents, which may reflect its liquidity management strategy or cash cycle.

In summary, the data reveal an environment where the company is increasing its current liabilities steadily, while managing cash assets with periodic increases and decreases. The cash ratio fluctuations highlight varying degrees of liquidity, with occasional tightening but recovery phases, indicating active management of short-term financial resources in response to operational needs or strategic decisions.