Stock Analysis on Net

SLB N.V. (NYSE:SLB)

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Enterprise Value (EV)

Microsoft Excel

Current Enterprise Value (EV)

SLB N.V., current enterprise value calculation

Microsoft Excel
Current share price (P)
No. shares of common stock outstanding
US$ in millions
Common equity (market value)1
Add: Noncontrolling interests (per books)
Total equity
Add: Short-term borrowings and current portion of long-term debt (per books)
Add: Long-term debt, excluding current portion (per books)
Total equity and debt
Less: Cash
Less: Short-term investments
Enterprise value (EV)

Based on: 10-K (reporting date: 2025-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


Historical Enterprise Value (EV)

SLB N.V., EV calculation

Microsoft Excel
Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Share price1, 2
No. shares of common stock outstanding1
US$ in millions
Common equity (market value)3
Add: Noncontrolling interests (book value)
Total equity
Add: Short-term borrowings and current portion of long-term debt (book value)
Add: Long-term debt, excluding current portion (book value)
Total equity and debt
Less: Cash
Less: Short-term investments
Enterprise value (EV)

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of SLB N.V. Annual Report.

3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


The information presents a five-year trend of several financial metrics, including common equity market value, total equity, total equity and debt, and enterprise value. Overall, the period exhibits fluctuations, with a general peak in 2022 followed by declines and a partial recovery.

Enterprise Value (EV) Trend
Enterprise value increased from US$67.193 billion in 2021 to US$89.522 billion in 2022, representing a substantial rise. However, it subsequently decreased to US$82.899 billion in 2023 and further to US$66.942 billion in 2024. A partial recovery is observed in 2025, with EV reaching US$82.102 billion. This suggests potential shifts in market perception of the company’s value, or changes in debt and cash positions.
Equity and Debt Relationship
Total equity and debt generally followed the trend of enterprise value, increasing from US$70.332 billion in 2021 to US$92.416 billion in 2022, then decreasing to US$86.888 billion in 2023 and US$71.611 billion in 2024. It increased again to US$86.314 billion in 2025. The close correlation between total equity and debt and enterprise value indicates that changes in both equity financing and debt levels are contributing factors to the fluctuations in overall company value.
Common Equity vs. Total Equity
Common equity (market value) and total equity exhibited similar patterns. Both increased from 2021 to 2022, decreased in 2023 and 2024, and showed a recovery in 2025. The values are consistently close, suggesting that market valuation closely reflects the book value of equity. The slight difference between the two could be attributed to intangible assets or other adjustments not fully captured in common equity.

The period between 2022 and 2024 demonstrates a notable contraction in all measured metrics, followed by a partial rebound in 2025. Further investigation into the underlying drivers of these changes – such as profitability, capital expenditures, and debt management – would be necessary to provide a more comprehensive assessment.