Analysis of Long-term (Investment) 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.
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- Income Statement
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Long-term Activity Ratios (Summary)
SLB N.V., long-term (investment) activity ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio exhibits a generally upward trend over the entire period analyzed. Starting at 3.23 in March 2021, it steadily increases to a peak of 4.93 by December 2024 before experiencing a slight decline to 4.41 in September 2025. This upward movement indicates an improving efficiency in generating sales from fixed assets, although the decline in the final periods suggests some potential tapering or asset base changes towards the end of the timeframe.
- Total Asset Turnover
- Total asset turnover demonstrates a consistent increase from 0.51 in March 2021 to a high of 0.74 in December 2024. Thereafter, a mild decrease occurs, reaching 0.64 by September 2025. The overall rise points to enhanced utilization of total assets to drive revenue, while the recent dip could reflect changes in asset composition or sales performance challenges.
- Equity Turnover
- Equity turnover starts at 1.70 in March 2021 and shows some volatility throughout the period. After a decline to 1.53 at the end of 2021, it recovers and peaks at 1.85 in June 2025. However, notable fluctuations are observed, including a steep drop to 1.37 in the last recorded quarter. This pattern suggests varying effectiveness in using shareholders’ equity to generate sales, with significant variability in the latter part of the analysis timeframe.
Net Fixed Asset Turnover
SLB N.V., net fixed asset turnover calculation (quarterly data)
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q3 2025 Calculation
Net fixed asset turnover
= (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
÷ Fixed assets less accumulated depreciation
= ( + + + )
÷ =
- Revenue Trend
- Revenue displayed a generally increasing trend over the observed periods, growing from $5,223 million in March 2021 to $8,928 million by September 2025. There were some fluctuations, with revenue reaching interim peaks such as $7,879 million in December 2022 and $9,284 million in December 2024. Notably, a slight decline occurred in the early part of 2025, dropping to $8,490 million in March 2025 before recovering gradually. The overall upward trajectory suggests sustained growth in sales or service income.
- Fixed Assets Less Accumulated Depreciation
- The net value of fixed assets showed a moderate increase over the timeframe, starting at $6,620 million in March 2021 and rising to $7,999 million by September 2025. This growth indicates ongoing investment in long-term assets or slower depreciation rates. The figure experienced minor fluctuations but overall remained relatively stable with gradual increase, pointing to controlled asset base management.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio demonstrated a clear upward trend in efficiency from 3.23 in March 2021 to a peak of 4.93 in December 2024, before declining slightly to 4.41 by September 2025. This ratio measures how effectively the company generates revenue from its net fixed assets. The increasing trend implies improving operational efficiency and better utilization of fixed assets during most of the period. The modest decline towards the end may indicate either a slower revenue growth relative to fixed assets or increased investment in assets not yet fully leveraged.
- Overall Analysis
- The data portrays a company experiencing steady growth in revenue and prudent management of its fixed asset base. The improvement in net fixed asset turnover ratio suggests enhanced operational efficiency until late 2024, with a slight reduction in asset productivity entering 2025. Continued revenue growth paired with investment in fixed assets positions the company for potential sustained performance, although monitoring the recent dip in turnover ratio is advisable to prevent erosion in asset efficiency.
Total Asset Turnover
SLB N.V., total asset turnover calculation (quarterly data)
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q3 2025 Calculation
Total asset turnover
= (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
÷ Total assets
= ( + + + )
÷ =
- Revenue Trends
- Revenue demonstrates an overall upward trajectory from March 2021 to September 2025. Starting at approximately 5,223 million US dollars in early 2021, revenue rises with some fluctuations, peaking near 9,284 million US dollars by late 2024. There is a noticeable acceleration in growth beginning in mid-2021, continuing with relatively steady increases through 2023 and 2024. However, mild volatility appears in the first half of 2025, with revenue slightly decreasing before stabilizing.
- Total Assets Development
- Total assets show a general increasing pattern though with periods of minor contraction. Beginning just over 42,000 million US dollars in early 2021, total assets experience incremental growth overall, reaching over 55,000 million by the third quarter of 2025. The asset base increases steadily through 2022 and 2023, with a short-term dip late in 2024, followed by a significant jump in mid to late 2025. This suggests ongoing asset investment or acquisition during the period.
- Total Asset Turnover Analysis
- The total asset turnover ratio steadily improves from 0.51 in March 2021 to a peak around 0.74 in mid-2025, indicating enhanced efficiency in using assets to generate revenue. The ratio rises consistently through 2022 and 2023, plateauing in late 2023 and early 2024, then slightly declining in late 2024 and into 2025 before a sharper decline toward the third quarter of 2025. Despite this drop, the ratio remains substantially higher than at the beginning of the period, reflecting overall improvements in asset utilization.
- Summary of Insights
- The financial data reveal a company experiencing robust revenue growth supported by expanding asset resources and improving operational efficiency as measured by asset turnover. Although there are occasional short-term declines in revenue and asset turnover, the long-term trends indicate effective asset management and a capacity to generate increasing income from the asset base. The fluctuations observed toward the later stages may warrant further monitoring to assess potential impacts on profitability and operational performance.
Equity Turnover
SLB N.V., equity turnover calculation (quarterly data)
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q3 2025 Calculation
Equity turnover
= (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
÷ Total SLB stockholders’ equity
= ( + + + )
÷ =
- Revenue Trends
- Revenue demonstrated an overall upward trajectory from March 2021 through December 2024, increasing from $5,223 million to a peak of $9,284 million. Notable growth periods include the steady rise through 2022 with revenues climbing from $5,962 million in March to $7,879 million by December. In 2023, revenue continued to grow, reaching $8,990 million by December 2023. However, in 2025, a decline emerged, with revenue decreasing to $8,490 million by the end of the first quarter before experiencing minor fluctuations and increasing again to $8,928 million by September 2025.
- Total SLB Stockholders’ Equity
- Stockholders' equity steadily increased from $12,543 million in March 2021 to a high of $21,511 million by September 2024. This growth was generally consistent, reflecting strengthening financial stability and accumulated retained earnings. However, equity declined somewhat in late 2024 and the first half of 2025, dropping to $19,515 million by June 2025, before rising sharply to $25,635 million by September 2025, indicating possible capital injections or retained earnings growth.
- Equity Turnover Ratio
- The equity turnover ratio, indicating revenue generated per dollar of equity, trended downward initially from 1.7 in March 2021 to a low of 1.53 in December 2021, suggesting revenues grew more slowly than equity. This was followed by a moderate recovery peaking at 1.72 in December 2024. However, a decline occurred in 2025, with a sharp drop to 1.37 by September 2025. This pattern may reflect rising equity outpacing revenue growth during this period.
- Overall Analysis
- The financial data portrays a phase of significant revenue growth paired with increasing equity through 2024, reflecting an expanding business and reinvestment of earnings. The equity turnover ratio's decline early on indicates that equity was growing faster than revenue, but its partial recovery suggests improved utilization of invested capital until the latter part of 2024. The drop in both revenue and equity turnover ratio in early 2025, alongside a sharp equity increase in the third quarter, could signal strategic financial adjustments. These include possible capital raising activities or shifts in business operations impacting revenue generation relative to equity.