Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Schlumberger Ltd., EBITDA calculation

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income (loss) attributable to SLB	4,203)	3,441)	1,881)	(10,518)	(10,137)
Add: Net income attributable to noncontrolling interest	72)	51)	47)	32)	30)
Add: Income tax expense	1,007)	779)	446)	(812)	(311)
Earnings before tax (EBT)	5,282)	4,271)	2,374)	(11,298)	(10,418)
Add: Interest expense	503)	490)	539)	563)	609)
Earnings before interest and tax (EBIT)	5,785)	4,761)	2,913)	(10,735)	(9,809)
Add: Depreciation and amortization, includes depreciation of fixed assets and amortization of intangible assets, exploration data costs and APS investments	2,312)	2,147)	2,120)	2,566)	3,589)
Earnings before interest, tax, depreciation and amortization (EBITDA)	8,097)	6,908)	5,033)	(8,169)	(6,220)

Based on: 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), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Schlumberger Ltd. EBITDA increased from 2021 to 2022 and from 2022 to 2023.

Enterprise Value to EBITDA Ratio, Current

Schlumberger Ltd., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	81,672)
Earnings before interest, tax, depreciation and amortization (EBITDA)	8,097)
Valuation Ratio
EV/EBITDA	10.09
Benchmarks
EV/EBITDA, Industry
Energy	6.36

Based on: 10-K (reporting date: 2023-12-31).

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Enterprise Value to EBITDA Ratio, Historical

Schlumberger Ltd., historical EV/EBITDA calculation, comparison to benchmarks

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	82,899)	89,522)	67,193)	44,665)	64,327)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	8,097)	6,908)	5,033)	(8,169)	(6,220)
Valuation Ratio
EV/EBITDA³	10.24	12.96	13.35	—	—
Benchmarks
EV/EBITDA, Industry
Energy	5.81	4.40	7.34	66.20	7.54

Based on: 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), 10-K (reporting date: 2019-12-31).

¹ See details »

² See details »

³ 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 82,899 ÷ 8,097 = 10.24

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Schlumberger Ltd. EV/EBITDA ratio decreased from 2021 to 2022 and from 2022 to 2023.

Schlumberger Ltd. (NYSE:SLB)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical