Liquidity ratios measure the company ability to meet its short-term obligations.

Liquidity Ratios (Summary)
Current Ratio
Quick Ratio
Cash Ratio

Schlumberger Ltd., liquidity ratios (quarterly data)

	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Current ratio	1.24	1.45	1.48	1.49	1.37	1.32	1.36	1.33	1.26	1.25	1.40	1.35	1.24	1.22	1.27	1.37	1.30	1.23	1.22	1.23	1.23
Quick ratio	0.83	0.99	1.00	1.02	0.91	0.88	0.94	0.89	0.82	0.83	0.92	0.86	0.78	0.82	0.85	0.91	0.83	0.79	0.81	0.81	0.82
Cash ratio	0.26	0.36	0.35	0.32	0.27	0.30	0.30	0.26	0.20	0.24	0.32	0.27	0.25	0.30	0.30	0.31	0.29	0.29	0.33	0.31	0.25

The financial ratios displayed demonstrate notable changes and trends over the periods from March 31, 2020, through March 31, 2025.

Current Ratio: The current ratio began at 1.23 in early 2020 and displayed minor fluctuations around this level through 2021, peaking at 1.37 mid-2021 before experiencing a slight decline towards the end of 2021. In 2022, the ratio generally improved, reaching up to 1.4 in the third quarter, followed by a reduction towards the year's end. The trend throughout 2023 was moderately upward, stabilizing around 1.33 to 1.36. Moving into 2024, the ratio reached a high of 1.49 in the second quarter, indicative of improved short-term liquidity, before gradually declining in late 2024 and early 2025, finishing at 1.24. Overall, the current ratio suggests a relatively stable liquidity position with some improvement particularly noted in mid-2024.
Quick Ratio: The quick ratio followed a somewhat similar pattern to the current ratio but remained consistently lower, reflecting the exclusion of less liquid current assets. Beginning at 0.82 in the first quarter of 2020, it showed a slight increase through mid-2021, reaching as high as 0.91, before easing back down towards the end of 2021. The ratio fluctuated modestly in 2022, demonstrating a peak of 0.92 in the third quarter, followed by a slight decrease. During 2023, values hovered between 0.82 and 0.94, indicating maintained liquidity. A marked improvement occurred in the first half of 2024, where the ratio surpassed 1.0 in the third quarter, the highest level observed in the dataset, suggesting stronger liquidity excluding inventory or similar assets. Toward the end of 2024 and start of 2025, the quick ratio decreased slightly but remained close to one, evidencing a generally robust short-term asset liquidity throughout the period.
Cash Ratio: The cash ratio started at a modest 0.25 in early 2020 and increased to a peak of 0.33 in the third quarter of 2020. Post-peak, there was a slight decline and fluctuation around the 0.25 to 0.3 range for 2021 and 2022, indicating moderate levels of available cash relative to current liabilities. The cash ratio dropped to its lowest point of 0.20 in the first quarter of 2023 before gradually rising again to 0.3 by the end of the year. Entering 2024, oscillations occurred with the ratio increasing to a high of 0.36 in the third quarter but then tapering off to 0.26 by the first quarter of 2025. The overall pattern suggests conservative cash holdings with periodic adjustments but generally maintaining a low cash buffer relative to current liabilities.

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Schlumberger Ltd., current ratio calculation (quarterly data)

	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Selected Financial Data (US$ in millions)
Current assets	18,595)	18,570)	18,801)	18,517)	17,700)	17,718)	17,038)	16,154)	15,400)	15,003)	15,611)	14,316)	13,253)	12,654)	12,387)	12,077)	12,807)	12,919)	14,215)	14,379)	16,266)
Current liabilities	15,036)	12,811)	12,699)	12,409)	12,879)	13,395)	12,528)	12,163)	12,252)	12,018)	11,134)	10,583)	10,696)	10,359)	9,735)	8,784)	9,873)	10,491)	11,651)	11,665)	13,262)
Liquidity Ratio
Current ratio¹	1.24	1.45	1.48	1.49	1.37	1.32	1.36	1.33	1.26	1.25	1.40	1.35	1.24	1.22	1.27	1.37	1.30	1.23	1.22	1.23	1.23

¹ Q1 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= 18,595 ÷ 15,036 = 1.24

Current Assets: Current assets initially decreased from approximately 16,266 million USD in March 2020 to a lower point near 12,077 million USD by June 2021, indicating a contraction phase. Subsequently, the values exhibit a recovery trend, increasing steadily through to December 2023, reaching around 17,718 million USD. A slight plateau and minor fluctuations occur thereafter, with values stabilizing near 18,595 million USD by March 2025.
Current Liabilities: Current liabilities show a downward trend from 13,262 million USD in March 2020 to a minimum close to 8,784 million USD by June 2021, reflecting a reduction in short-term obligations. Following this period, liabilities demonstrated a general rising trend with some volatility, peaking at about 13,395 million USD in December 2023. From that point onward, liabilities moderately decreased but then increased sharply, ending at roughly 15,036 million USD by the last period in March 2025.
Current Ratio: The current ratio largely remained within a range from 1.22 to 1.49 over the entire observed period. Initially stable around 1.22 during 2020, the ratio increased gradually, peaking at approximately 1.49 by June 2024, indicating an improvement in liquidity position as current assets outpaced current liabilities. However, the ratio declined toward the end of the timeframe, falling back to 1.24 in March 2025, demonstrating a reduction in liquidity, potentially driven by the increase in current liabilities relative to current assets.
Overall Analysis: The initial decline in both current assets and liabilities through mid-2021 suggests a contraction phase, possibly due to external economic factors. The subsequent recovery and growth in current assets alongside a rise in current liabilities indicate expansion and increased operating activity. The rise and fall of the current ratio highlight fluctuations in the company’s short-term liquidity, with a peak suggesting optimal liquidity management mid-period, followed by some cautionary decreases toward the end. The sharp increase in liabilities in the final quarters may warrant further monitoring to assess short-term financial stability.

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Schlumberger Ltd., quick ratio calculation (quarterly data)

	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Selected Financial Data (US$ in millions)
Cash	2,936)	3,544)	3,086)	2,953)	2,788)	2,900)	2,488)	1,930)	1,501)	1,655)	2,180)	1,893)	1,600)	1,757)	1,569)	1,439)	1,268)	844)	1,219)	1,462)	1,375)
Short-term investments	961)	1,125)	1,376)	1,050)	703)	1,089)	1,247)	1,264)	1,003)	1,239)	1,429)	923)	1,049)	1,382)	1,373)	1,243)	1,642)	2,162)	2,618)	2,127)	1,969)
Receivables less allowance for doubtful accounts	8,604)	8,011)	8,260)	8,605)	8,222)	7,812)	8,049)	7,675)	7,578)	7,032)	6,650)	6,247)	5,713)	5,315)	5,349)	5,347)	5,269)	5,247)	5,552)	5,808)	7,486)
Total quick assets	12,501)	12,680)	12,722)	12,608)	11,713)	11,801)	11,784)	10,869)	10,082)	9,926)	10,259)	9,063)	8,362)	8,454)	8,291)	8,029)	8,179)	8,253)	9,389)	9,397)	10,830)

Current liabilities	15,036)	12,811)	12,699)	12,409)	12,879)	13,395)	12,528)	12,163)	12,252)	12,018)	11,134)	10,583)	10,696)	10,359)	9,735)	8,784)	9,873)	10,491)	11,651)	11,665)	13,262)
Liquidity Ratio
Quick ratio¹	0.83	0.99	1.00	1.02	0.91	0.88	0.94	0.89	0.82	0.83	0.92	0.86	0.78	0.82	0.85	0.91	0.83	0.79	0.81	0.81	0.82

¹ Q1 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 12,501 ÷ 15,036 = 0.83

Total quick assets: The total quick assets demonstrated a general upward trajectory over the analyzed periods. Beginning with 10,830 million USD at the end of March 2020, the value declined somewhat during the subsequent two quarters, reaching a low of 8,253 million USD by December 2020. From 2021 onward, a recovery trend is evident; the figure gradually increased, surpassing the initial 2020 levels by mid-2022 and reaching a peak of 11,801 million USD in December 2023. Thereafter, the values remain relatively stable but show slight fluctuations, ending at 12,501 million USD by the end of March 2025.
Current liabilities: Current liabilities exhibited variability with some fluctuations across the quarters. Starting from 13,262 million USD in March 2020, they decreased steadily to 8,784 million USD by June 2021, reflecting a reduction in short-term obligations. From mid-2021, liabilities trended upward again, peaking at 13,395 million USD in December 2023. The level remained elevated towards the end of the period, notably rising to 15,036 million USD by March 2025. This indicates a general increase in current liabilities in recent quarters after the mid-period dip.
Quick ratio: The quick ratio fluctuated within a range of approximately 0.79 to 1.02 over the observed periods. Initially, it hovered around 0.8 in 2020, indicating that quick assets covered about 80% of current liabilities. A temporary improvement is apparent in mid-2021, reaching as high as 0.91. The ratio later moved near or above 1.0 during late 2023 and mid-2024, suggesting that quick assets were sufficient to cover current liabilities. However, the quick ratio dropped again towards the end of the analyzed period, declining to 0.83 by March 2025. Overall, the ratio reflects moderate liquidity with periods of stronger coverage alternating with moments of tightening liquidity.

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Schlumberger Ltd., cash ratio calculation (quarterly data)

	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Selected Financial Data (US$ in millions)
Cash	2,936)	3,544)	3,086)	2,953)	2,788)	2,900)	2,488)	1,930)	1,501)	1,655)	2,180)	1,893)	1,600)	1,757)	1,569)	1,439)	1,268)	844)	1,219)	1,462)	1,375)
Short-term investments	961)	1,125)	1,376)	1,050)	703)	1,089)	1,247)	1,264)	1,003)	1,239)	1,429)	923)	1,049)	1,382)	1,373)	1,243)	1,642)	2,162)	2,618)	2,127)	1,969)
Total cash assets	3,897)	4,669)	4,462)	4,003)	3,491)	3,989)	3,735)	3,194)	2,504)	2,894)	3,609)	2,816)	2,649)	3,139)	2,942)	2,682)	2,910)	3,006)	3,837)	3,589)	3,344)

Current liabilities	15,036)	12,811)	12,699)	12,409)	12,879)	13,395)	12,528)	12,163)	12,252)	12,018)	11,134)	10,583)	10,696)	10,359)	9,735)	8,784)	9,873)	10,491)	11,651)	11,665)	13,262)
Liquidity Ratio
Cash ratio¹	0.26	0.36	0.35	0.32	0.27	0.30	0.30	0.26	0.20	0.24	0.32	0.27	0.25	0.30	0.30	0.31	0.29	0.29	0.33	0.31	0.25

¹ Q1 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 3,897 ÷ 15,036 = 0.26

Total cash assets: Total cash assets exhibited fluctuations over the observed periods, with values generally ranging between approximately 2,500 and 4,000 million US dollars. Initially, there was a moderate increase from 3,344 million at the end of the first quarter of 2020 to a peak of 3,837 million in the third quarter of 2020, followed by a decline towards the end of 2020. This was succeeded by a period of relative stability and modest increases, culminating in a notable rise to 3,989 million in the fourth quarter of 2023. However, some volatility continued, with values peaking at 4,669 million in the first quarter of 2025 before retreating to 3,897 million by the same year-end. The overall pattern indicates episodic strengthening of liquid assets interspersed with short-term contractions.
Current liabilities: Current liabilities demonstrated a general upward trend across the timeframe. Starting from a high base of 13,262 million at the close of the first quarter of 2020, there was a noticeable reduction during much of 2020 and the first half of 2021, with liabilities decreasing to a low near 8,784 million in the second quarter of 2021. From this trough, current liabilities generally increased, reaching a new high of 15,036 million in the first quarter of 2025. This steady increase after mid-2021 suggests growing short-term obligations, which could reflect increased operational leverage or financial commitments.
Cash ratio: The cash ratio, representing the proportion of liquid cash assets relative to current liabilities, fluctuated within a range of approximately 0.20 to 0.36 over the analyzed quarters. Values were lowest around the first quarter of 2023 at 0.20, indicating relatively lower liquidity coverage of current liabilities at that point. Thereafter, the ratio recovered steadily, reaching highs of 0.35 and 0.36 during 2024 and the first quarter of 2025, reflecting improved immediate liquidity. Despite occasional dips, the ratio generally trended upwards over the latter periods, suggesting a strengthening in the company's capacity to meet short-term obligations with available cash.
Overall insights: The data indicates a company managing fluctuating cash assets against a backdrop of rising current liabilities. While total cash assets varied, significant peaks emerge in late 2023 and early 2025. Current liabilities, after an initial reduction through 2020-2021, trend consistently higher into 2025, implying growing short-term financial pressures. The cash ratio improvement in the later periods signals enhanced liquidity management, with cash reserves more effectively covering immediate liabilities. Monitoring the balance between liquidity and obligations remains essential, given the persistent increase in current liabilities and the periodic nature of cash asset levels observed.

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Schlumberger Ltd. (NYSE:SLB)

Analysis of Liquidity Ratios
Quarterly Data

Liquidity Ratios (Summary)

Current Ratio

Quick Ratio

Cash Ratio

Schlumberger Ltd. (NYSE:SLB)

Analysis of Liquidity RatiosQuarterly Data

Liquidity Ratios (Summary)

Current Ratio

Quick Ratio

Cash Ratio

Analysis of Liquidity Ratios
Quarterly Data