Price to FCFE (P/FCFE)
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- Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
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Free Cash Flow to Equity (FCFE)
Schlumberger Ltd., FCFE calculation
US$ in millions
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).
- Net cash provided by operating activities
- The net cash generated from operating activities exhibits a generally positive trend over the observed periods. Starting at US$ 2,944 million in 2020, there was a notable increase to US$ 4,651 million in 2021. Though a decline occurred in 2022 to US$ 3,720 million, the cash flow rebounded substantially in 2023 to US$ 6,637 million and maintained a similar level at US$ 6,602 million in 2024. This pattern suggests increasing operational efficiency or improved working capital management after the dip in 2022.
- Free cash flow to equity (FCFE)
- The FCFE demonstrates more volatility compared to operating cash flow. It started strong at US$ 2,254 million in 2020 but decreased sharply to US$ 850 million in 2021, followed by a negative value of US$ -195 million in 2022, indicating cash outflow to equity holders in that year. The figure recovered considerably in 2023 to US$ 3,456 million and grew further to US$ 4,395 million in 2024, signaling improved financial flexibility and capacity to return value to shareholders after the volatility experienced in prior years.
- Overall observations
- Both key cash flow metrics reflect resilience and recovery after the challenges evident in 2022. While operating cash flows experienced a temporary decline, free cash flow to equity even turned negative in the same year, the subsequent periods showed strong improvements. The data indicates a positive outlook in the company’s cash generation and shareholder return potential, with stabilization and growth evident by the end of the 2024 period.
Price to FCFE Ratio, Current
Schlumberger Ltd., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Industry | |
| Energy | |
Based on: 10-K (reporting date: 2024-12-31).
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Schlumberger Ltd., historical P/FCFE calculation, comparison to benchmarks
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.
3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Schlumberger Ltd. Annual Report.
5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
- Share Price Trend
- The share price experienced a substantial increase from US$21.81 at the end of 2020 to a peak of US$56.25 at the end of 2022. Following this peak, the price declined to US$51.67 in 2023 and further to US$41.63 in 2024. This indicates notable volatility with a strong upward trend initially, followed by a moderate retracement in the latter years.
- FCFE per Share Trend
- The Free Cash Flow to Equity (FCFE) per share shows a fluctuating pattern over the five-year period. Starting at US$1.62 in 2020, it dropped sharply to US$0.61 in 2021 and entered negative territory in 2022 at -US$0.14. Subsequently, it recovered significantly to US$2.42 in 2023 and further increased to US$3.14 in 2024, demonstrating a strong rebound in cash flow generation capacity in recent years.
- P/FCFE Ratio Analysis
- The Price to FCFE ratio, which reflects the valuation based on free cash flow, exhibited considerable variation. It was relatively low at 13.47 in 2020 before spiking dramatically to 65.71 in 2021, indicating heightened market valuation relative to FCFE during that period. The ratio was not reported for 2022, likely influenced by the negative FCFE that year. In 2023, it corrected to 21.34 and further decreased to 13.27 in 2024, aligning more closely with the initial valuation levels observed in 2020.
- Overall Insights
- The financial data reveal an initial period of market optimism reflected in rising share prices and a sharp valuation increase relative to free cash flow in 2021. The negative FCFE in 2022 corresponds with an absence of P/FCFE data and a peak share price, suggesting operational or cash flow challenges. The subsequent recovery in FCFE and the normalization of the P/FCFE ratio, alongside declining share prices from their peak, indicate a stabilization phase with more balanced valuations grounded in improved cash flow fundamentals.