Stock Analysis on Net
Stock Analysis on Net

Schlumberger Ltd. (NYSE:SLB)

Analysis of Profitability Ratios 
Quarterly Data

Microsoft Excel

Profitability ratios measure the company ability to generate profitable sales from its resources (assets).

Profitability Ratios (Summary)

Schlumberger Ltd., profitability ratios (quarterly data)

Microsoft Excel
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
Return on Sales
Gross profit margin 20.42% 20.56% 20.27% 20.18% 19.97% 19.81% 19.79% 19.41% 18.96% 18.37% 17.69% 17.04% 16.43% 15.95% 14.73% 13.51% 11.65% 11.02% — — —
Operating profit margin 15.39% 15.99% 16.31% 16.43% 16.55% 16.43% 16.45% 16.03% 15.49% 14.78% 13.97% 13.21% 12.56% 12.06% 10.68% 7.72% -11.73% -46.62% — — —
Net profit margin 11.62% 12.29% 12.44% 12.56% 12.72% 12.68% 12.97% 12.63% 12.94% 12.25% 11.26% 10.56% 8.84% 8.20% 7.44% 4.72% -13.30% -44.57% — — —
Return on Investment
Return on equity (ROE) 21.47% 21.11% 20.82% 20.96% 20.92% 20.82% 21.43% 21.17% 21.39% 19.46% 17.31% 16.05% 13.63% 12.54% 12.38% 8.01% -22.67% -87.13% — — —
Return on assets (ROA) 8.55% 9.12% 9.00% 8.94% 9.06% 8.76% 9.07% 8.79% 8.81% 7.98% 6.75% 6.12% 4.98% 4.53% 4.03% 2.50% -6.76% -24.79% — — —

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Gross Profit Margin
The gross profit margin shows a consistent upward trend from March 31, 2020, to March 31, 2025. Starting at 11.02% in early 2020, it steadily increases each quarter, reaching a peak of 20.56% by late 2024, with a slight decline to 20.42% at the beginning of 2025. This indicates progressive improvement in the company's core profitability over the observed period.
Operating Profit Margin
The operating profit margin initially experienced a significant negative value at -46.62% in September 2020, reflecting considerable operational challenges. However, a recovery phase follows with gradual improvement to positive figures by mid-2021. From that point, operating margin continues to increase steadily, peaking around 16.55% towards mid-2024. A minor decline is noted thereafter, ending at 15.39% in March 2025. This trend demonstrates a substantial turnaround in operational efficiency and cost management over time.
Net Profit Margin
The net profit margin mirrors the operating margin's pattern with an initial substantial negative figure at -44.57% in September 2020. An upward recovery trend begins shortly after, reaching positive territory around mid-2021. Following this, the margin progresses steadily, peaking at approximately 12.94% in early 2023, before a gradual decline towards 11.62% by March 2025. This suggests the company has improved its overall profitability, albeit with some recent downturns in net income relative to revenue.
Return on Equity (ROE)
ROE experiences a dramatic negative low at -87.13% in September 2020, indicative of significant losses relative to shareholders' equity during that period. Recovery starts by the end of 2020 and continues robustly through the timeline. The ROE climbs steadily, surpassing 20% from early 2023 onwards, reaching 21.47% by March 2025. This reflects enhanced effectiveness in generating shareholder returns and improved capital utilization.
Return on Assets (ROA)
ROA similarly reflects early negative values, bottoming out at -24.79% in September 2020, followed by a recovery phase transitioning into positive figures by late 2020. ROA then indicates progressive growth, peaking at 9.12% in September 2024 before slightly dipping to 8.55% in early 2025. The trend highlights improved efficiency in asset utilization for profit generation throughout the period, with marginal weakening at the end.

Return on Sales

Return on Investment

Gross Profit Margin

Schlumberger Ltd., gross profit margin calculation (quarterly data)

Microsoft Excel
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)
Gross margin 1,606 1,961 1,922 1,877 1,700 1,797 1,718 1,597 1,451 1,572 1,435 1,205 949 1,088 985 866 719 705 634 431 831
Revenue 8,490 9,284 9,159 9,139 8,707 8,990 8,310 8,099 7,736 7,879 7,477 6,773 5,962 6,225 5,847 5,634 5,223 5,532 5,258 5,356 7,455
Profitability Ratio
Gross profit margin1 20.42% 20.56% 20.27% 20.18% 19.97% 19.81% 19.79% 19.41% 18.96% 18.37% 17.69% 17.04% 16.43% 15.95% 14.73% 13.51% 11.65% 11.02% — — —

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q1 2025 Calculation
Gross profit margin = 100 × (Gross marginQ1 2025 + Gross marginQ4 2024 + Gross marginQ3 2024 + Gross marginQ2 2024) ÷ (RevenueQ1 2025 + RevenueQ4 2024 + RevenueQ3 2024 + RevenueQ2 2024)
= 100 × (1,606 + 1,961 + 1,922 + 1,877) ÷ (8,490 + 9,284 + 9,159 + 9,139) = 20.42%

Gross Margin Trends
The gross margin demonstrated a generally upward trajectory from March 2020 through December 2024, beginning at 831 million US dollars and peaking at 1961 million US dollars by December 2024. There was a significant dip in June 2020 to 431 million, likely reflecting broader economic impacts during that period. After this low, the margin steadily recovered, with occasional fluctuations. Notably, there were increases observed in the middle of each year, particularly from 2022 onward. However, a decline is noted at the very end of the series in March 2025, where the gross margin decreased to 1606 million.
Revenue Patterns
Revenue followed a somewhat volatile but upward trend overall between March 2020 and March 2025. Starting at 7455 million US dollars, revenue experienced a significant drop to 5356 million in June 2020. Subsequent quarters saw recovery and growth, with revenues rising steadily from 2021 onwards, reaching a high of 9284 million in December 2024. However, a decline was observed in the last quarter of the data set, with revenue decreasing to 8490 million by March 2025.
Gross Profit Margin Percentage
The gross profit margin percentage began to be reported starting from March 2021, at 11.02%. From that point forward, it exhibited a consistent and gradual increase each quarter, rising steadily from 11.02% to a peak of 20.56% in September 2024. The margin maintained levels near this peak through December 2024, but experienced a slight decline to 20.42% in March 2025. This indicates improving profitability relative to revenue over time, reflecting enhanced cost management or pricing power.
Overall Insights
The data reflects an initial period of stress in early 2020, likely due to external economic conditions, followed by a period of recovery and growth in both revenue and gross margin. Profitability, as measured by gross profit margin percentage, has shown a continual improvement, implying stronger operational efficiency or market positioning. The modest declines in gross margin and revenue in the first quarter of 2025 suggest a potential new challenge or cyclical downturn that may warrant further attention.

Operating Profit Margin

Schlumberger Ltd., operating profit margin calculation (quarterly data)

Microsoft Excel
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)
Operating income (loss) 1,132 1,403 1,547 1,468 1,386 1,468 1,451 1,338 1,186 1,294 1,181 965 711 835 765 662 503 444 62 (3,516) (7,992)
Revenue 8,490 9,284 9,159 9,139 8,707 8,990 8,310 8,099 7,736 7,879 7,477 6,773 5,962 6,225 5,847 5,634 5,223 5,532 5,258 5,356 7,455
Profitability Ratio
Operating profit margin1 15.39% 15.99% 16.31% 16.43% 16.55% 16.43% 16.45% 16.03% 15.49% 14.78% 13.97% 13.21% 12.56% 12.06% 10.68% 7.72% -11.73% -46.62% — — —

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q1 2025 Calculation
Operating profit margin = 100 × (Operating income (loss)Q1 2025 + Operating income (loss)Q4 2024 + Operating income (loss)Q3 2024 + Operating income (loss)Q2 2024) ÷ (RevenueQ1 2025 + RevenueQ4 2024 + RevenueQ3 2024 + RevenueQ2 2024)
= 100 × (1,132 + 1,403 + 1,547 + 1,468) ÷ (8,490 + 9,284 + 9,159 + 9,139) = 15.39%

Operating Income (Loss)
The data shows a significant improvement in operating income from March 2020 through 2025. Initially, the company experienced substantial losses, with a nadir of -7,992 million USD in March 2020 and -3,516 million USD in June 2020. Subsequently, operating income turned positive starting in September 2020, reaching 62 million USD and gradually increasing each quarter. The upward trend continued with some fluctuations, peaking at 1,547 million USD in September 2024 before a slight decline to 1,132 million USD by March 2025. This pattern suggests a strong recovery and consistent profitability gains over the period.
Revenue
Revenue exhibited a declining trend early in the period, dropping from 7,455 million USD in March 2020 to a low of 5,223 million USD in March 2021. After this trough, revenue began to recover steadily and demonstrated robust growth, reaching 9,284 million USD by December 2024. However, a decrease to 8,490 million USD occurred in the final quarter recorded, March 2025. The overall trajectory indicates a rebound following an initial downturn, reflecting improving business conditions and market demand.
Operating Profit Margin (%)
Operating profit margin data is absent for the initial periods but becomes available from September 2020 onward. Starting at -46.62%, margins improved dramatically and turned positive by March 2021, reaching 7.72%. Margins continued a steady upward progression, peaking at 16.55% in June 2024. Despite minor variations afterward, margins remained relatively stable, finishing at 15.39% by March 2025. This continuous margin expansion corresponds with the recovery in operating income and revenue, highlighting enhanced cost management and operational efficiency.
Summary of Trends
The financial data collectively illustrates a company recovering from substantial losses and declining revenues in early 2020, likely due to adverse market or economic conditions. Over subsequent quarters, a clear reversal is evident across key financial metrics. Revenue growth resumed robustly post-March 2021, mirrored by steadily increasing operating income and expanding profit margins. Operating profit margins more than doubled from their initial positive readings, reflecting operational leverage and efficiency improvements. Despite some minor declines towards the end of the analyzed period, the overall outlook demonstrates strong financial improvement and stabilization.

Net Profit Margin

Schlumberger Ltd., net profit margin calculation (quarterly data)

Microsoft Excel
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)
Net income (loss) attributable to SLB 797 1,095 1,186 1,112 1,068 1,113 1,123 1,033 934 1,065 907 959 510 601 550 431 299 374 (82) (3,434) (7,376)
Revenue 8,490 9,284 9,159 9,139 8,707 8,990 8,310 8,099 7,736 7,879 7,477 6,773 5,962 6,225 5,847 5,634 5,223 5,532 5,258 5,356 7,455
Profitability Ratio
Net profit margin1 11.62% 12.29% 12.44% 12.56% 12.72% 12.68% 12.97% 12.63% 12.94% 12.25% 11.26% 10.56% 8.84% 8.20% 7.44% 4.72% -13.30% -44.57% — — —

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q1 2025 Calculation
Net profit margin = 100 × (Net income (loss) attributable to SLBQ1 2025 + Net income (loss) attributable to SLBQ4 2024 + Net income (loss) attributable to SLBQ3 2024 + Net income (loss) attributable to SLBQ2 2024) ÷ (RevenueQ1 2025 + RevenueQ4 2024 + RevenueQ3 2024 + RevenueQ2 2024)
= 100 × (797 + 1,095 + 1,186 + 1,112) ÷ (8,490 + 9,284 + 9,159 + 9,139) = 11.62%

Net Income (Loss) Attributable to SLB
Net income exhibited a pronounced recovery trajectory following a significant initial loss of -7,376 million USD in the first quarter of 2020. The loss magnitude progressively diminished through the subsequent quarters of 2020, transforming to a minor loss of -82 million USD by the third quarter and then achieving a positive net income of 374 million USD at year-end 2020. Through 2021 and into 2022, net income steadily increased, peaking at 1,065 million USD in the fourth quarter of 2022. The trend remains positive though somewhat fluctuating from 2023 onward, with net income generally maintaining levels above 900 million USD per quarter, reaching a peak of 1,186 million USD in the third quarter of 2024 before a decline to 797 million USD in the first quarter of 2025. Overall, net income shows strong recovery and relative stability following the 2020 lows.
Revenue
Revenue demonstrated a volatile pattern aligned with the overall economic environment starting at 7,455 million USD in the first quarter of 2020 and declining substantially to a low of 5,258 million USD by the third quarter of 2020. Beginning in the final quarter of 2020, revenue began a steady upward trend, growing to a peak of 9,284 million USD in the fourth quarter of 2024. There were minor fluctuations around the late 2022 to 2023 period, but the general pattern is progressive growth through 2021, 2022, and into 2024, reflecting a recovery and expansion phase. A slight decline occurs in the first quarter of 2025, with revenue dipping to 8,490 million USD.
Net Profit Margin
The net profit margin showed a marked improvement beginning in the second half of 2020, shifting from negative percentages in earlier quarters (down to -44.57% in the third quarter of 2020) to positive margins starting in the first quarter of 2021. Following the turnaround, margins increased progressively and demonstrated strong profitability with a peak margin of 12.97% in the third quarter of 2023. Margins have since stabilized in the 11.62% to 12.72% range through 2024, indicating consistent profit generation relative to revenue with minor downward adjustments towards the end of the period analyzed.
Overall Trends and Insights
The data reflects the impact of an initial severe downturn in 2020, likely linked to external economic pressures, followed by a strong recovery in financial performance. Revenues and net income have shown a clear upward trend post-2020, with profitability margins transitioning from negative to stable double digits. The steady margins alongside revenue growth suggest efficiency improvements and successful cost management. However, the recent slight declines in revenue and net income in early 2025 merit monitoring to determine if these represent a short-term fluctuation or signal emerging challenges.

Return on Equity (ROE)

Schlumberger Ltd., ROE calculation (quarterly data)

Microsoft Excel
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)
Net income (loss) attributable to SLB 797 1,095 1,186 1,112 1,068 1,113 1,123 1,033 934 1,065 907 959 510 601 550 431 299 374 (82) (3,434) (7,376)
Total SLB stockholders’ equity 19,515 21,130 21,511 21,071 20,736 20,189 19,386 18,608 18,068 17,685 17,199 16,325 15,347 15,004 13,362 12,762 12,543 12,071 11,941 12,040 15,561
Profitability Ratio
ROE1 21.47% 21.11% 20.82% 20.96% 20.92% 20.82% 21.43% 21.17% 21.39% 19.46% 17.31% 16.05% 13.63% 12.54% 12.38% 8.01% -22.67% -87.13% — — —

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q1 2025 Calculation
ROE = 100 × (Net income (loss) attributable to SLBQ1 2025 + Net income (loss) attributable to SLBQ4 2024 + Net income (loss) attributable to SLBQ3 2024 + Net income (loss) attributable to SLBQ2 2024) ÷ Total SLB stockholders’ equity
= 100 × (797 + 1,095 + 1,186 + 1,112) ÷ 19,515 = 21.47%

Net Income Trend
The net income attributable shows a significant recovery and growth over the periods. Initially, the net income reported a substantial loss of -$7,376 million in March 2020, which improved continuously reaching positive territory by the fourth quarter of 2020. From 2021 onwards, net income demonstrates consistent positive values with fluctuations but an overall upward trajectory reaching a peak of $1,186 million in September 2024, before declining slightly to $797 million by March 2025. This pattern indicates a strong recovery post-2020 losses and stabilization in profitability, though with some reduction towards the end of the observed period.
Total Stockholders’ Equity
The stockholders’ equity exhibits an initial decline from $15,561 million in March 2020 to $11,940 million in September 2020, reflecting impacts that align with the period of large net losses. Subsequently, equity increases steadily through to December 2024, with the highest figure recorded at $21,511 million. However, equity decreases to $19,515 million by March 2025. This long-term growth trend suggests accumulation of retained earnings and possibly other equity-enhancing activities, with a slight reversal in the final quarter potentially indicating adjustments or distributions.
Return on Equity (ROE)
ROE reflects the company's efficiency in utilizing equity to generate profits. It begins with negative values in 2020 (-87.13% and -22.67%), consistent with net losses in that period. ROE transitions to positive figures starting from March 2021, showing progressive improvement and stabilizing in the range of approximately 20% to 21.5% through to March 2025. This steady and elevated ROE from 2021 onward signals effective and consistent profitability in relation to shareholders’ equity.
Overall Financial Patterns
The data reveals a recovery phase following a significant downturn in early 2020, likely reflecting external economic or industry-specific challenges. Net income and ROE show correlated improvement from negative to stable positive values, indicating restored profitability and efficient equity use. The gradual increase in stockholders’ equity supports the positive earnings results, though the equity dip at the end may warrant further analysis. The consistency in ROE above 20% in the later periods signifies strong financial performance and shareholder value creation during the latter years.

Return on Assets (ROA)

Schlumberger Ltd., ROA calculation (quarterly data)

Microsoft Excel
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)
Net income (loss) attributable to SLB 797 1,095 1,186 1,112 1,068 1,113 1,123 1,033 934 1,065 907 959 510 601 550 431 299 374 (82) (3,434) (7,376)
Total assets 49,002 48,935 49,775 49,373 47,856 47,957 45,813 44,826 43,855 43,135 44,093 42,827 41,967 41,511 41,038 40,908 42,036 42,434 44,066 44,667 48,594
Profitability Ratio
ROA1 8.55% 9.12% 9.00% 8.94% 9.06% 8.76% 9.07% 8.79% 8.81% 7.98% 6.75% 6.12% 4.98% 4.53% 4.03% 2.50% -6.76% -24.79% — — —

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q1 2025 Calculation
ROA = 100 × (Net income (loss) attributable to SLBQ1 2025 + Net income (loss) attributable to SLBQ4 2024 + Net income (loss) attributable to SLBQ3 2024 + Net income (loss) attributable to SLBQ2 2024) ÷ Total assets
= 100 × (797 + 1,095 + 1,186 + 1,112) ÷ 49,002 = 8.55%

The net income attributable to the company exhibits a significant recovery trend over the observed periods. Starting from a substantial loss of 7,376 million USD in March 2020, the net income improves successively, turning positive in the fourth quarter of 2020 with 374 million USD. From that point onward, net income maintains a generally upward trajectory, peaking at 1,186 million USD in September 2024 before a slight decrease to 797 million USD by March 2025. This suggests a robust recovery and expansion of profitability following the early pandemic-related downturn.

Total assets show a moderate fluctuation within a definable range. Initially, total assets decline from 48,594 million USD in March 2020 to around 40,000 million USD by mid-2021, indicating a contraction period. After mid-2021, total assets trend upward, reaching a peak of 49,775 million USD in September 2024. However, by March 2025, assets slightly decrease again to approximately 49,002 million USD. This pattern indicates some asset reallocation or investment activities with a gradual increase in overall asset base post-2021.

The Return on Assets (ROA) metric displays a clear improvement aligning with the recovery in net income. Initially missing data for early 2020, the data begins from -24.79% in September 2020, reflecting the substantial losses of that period. Over subsequent quarters, ROA steadily rises, turning positive and further increasing to stabilize around 8-9% from late 2022 through to early 2025. This consistent improvement signals enhanced operational efficiency and profitability relative to asset size over time.

Net Income (US$ million)
Recovered from deep negative values in early 2020 to sustained positive gains above 1 billion USD by 2024.
Total Assets (US$ million)
Decreased initially in 2020, then gradually increased to surpass pre-pandemic levels by late 2024, followed by slight stabilization.
Return on Assets (%)
Transitioned from significant negative returns in late 2020 to steady positive returns around 8-9% in the recent periods, reflecting profitability improvements.