Current EV
Historical EV

Schlumberger Ltd., current enterprise value calculation

Current share price (P)	$35.57
No. shares of common stock outstanding	1,351,248,823
US$ in millions
Common equity (market value)¹	48,064)
Add: Noncontrolling interests (per books)	1,220)
Total equity	49,284)
Add: Short-term borrowings and current portion of long-term debt (per books)	1,051)
Add: Long-term debt, excluding current portion (per books)	11,023)
Total equity and debt	61,358)
Less: Cash	3,544)
Less: Short-term investments	1,125)
Enterprise value (EV)	56,689)

Based on: 10-K (reporting date: 2024-12-31).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 35.57 × 1,351,248,823

Schlumberger Ltd., EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$41.63	$51.67	$56.25	$39.80	$21.81
No. shares of common stock outstanding¹	1,400,850,420	1,427,394,843	1,420,188,492	1,403,381,685	1,392,325,960
US$ in millions
Common equity (market value)³	58,317)	73,753)	79,886)	55,855)	30,367)
Add: Noncontrolling interests (book value)	1,220)	1,170)	304)	282)	418)
Total equity	59,537)	74,923)	80,190)	56,137)	30,785)
Add: Short-term borrowings and current portion of long-term debt (book value)	1,051)	1,123)	1,632)	909)	850)
Add: Long-term debt, excluding current portion (book value)	11,023)	10,842)	10,594)	13,286)	16,036)
Total equity and debt	71,611)	86,888)	92,416)	70,332)	47,671)
Less: Cash	3,544)	2,900)	1,655)	1,757)	844)
Less: Short-term investments	1,125)	1,089)	1,239)	1,382)	2,162)
Enterprise value (EV)	66,942)	82,899)	89,522)	67,193)	44,665)

Based on: 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), 10-K (reporting date: 2020-12-31).

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Schlumberger Ltd. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 41.63 × 1,400,850,420

Equity Trends: The market value of common equity showed a significant increase from US$30,367 million at the end of 2020 to a peak of US$79,886 million in 2022. After that peak, there is a noticeable decline, with the value dropping to US$58,317 million by the end of 2024. Total equity figures closely mirror this pattern, rising from US$30,785 million in 2020 to US$80,190 million in 2022, then decreasing to US$59,537 million in 2024.
Total Equity and Debt: The combined total of equity and debt grew steadily from US$47,671 million in 2020 to US$92,416 million in 2022, marking the highest value in the period under review. A downward trend follows, with this total reducing to US$71,611 million in 2024, indicating a contraction in the company’s capital structure over the last two years.
Enterprise Value (EV): Enterprise value followed a similar trajectory, increasing from US$44,665 million in 2020 to a maximum of US$89,522 million in 2022. Subsequently, EV declined to US$66,942 million by 2024. This suggests that overall market valuation and perceived business worth experienced a rise and fall aligned with the equity and debt levels during the period studied.
General Observations: The data indicates strong growth through 2022 across all measured financial metrics, followed by a downward adjustment through 2024. This pattern may reflect broader market or company-specific influences impacting valuation and capital structure after 2022. The similar direction of all variables implies consistent shifts in market perception, financing, and asset base.

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Schlumberger Ltd. (NYSE:SLB)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)