Schlumberger NV (SLB) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of Schlumberger NV stock $29.03, price $51.56, that is 43.7% below the price, quality 54 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range $23.57 – $59.79 · fair‑value band $21.44 – $36.29 · the $51.56 price screens above the $29.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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SLB N.V. engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems.
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The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.
It also offers subsurface geology and fluids evaluation information; stimulation services to restore or enhance well productivity through hydraulic fracturing, matrix stimulation, and water treatment; and intervention services to oil and gas operators.
In addition, the company offers mud logging, directional drilling, measurement-while-drilling, and logging-while-drilling services, as well as engineering support services; supplies drilling fluid systems; designs, manufactures, and markets roller cone and fixed cutter drill bits; bottom-hole-assembly and borehole enlargement technologies; well planning, well drilling, engineering, supervision, logistics, procurement, and contracting of third parties, as well as drilling rig management solutions; and drilling equipment and services, as well as land drilling rigs and related services.
Further, it provides artificial lift; supplies packers, safety valves, sand control technology, and various intelligent systems; midstream production systems; valves, chokes, actuators, and surface trees; and OneSubsea, an integrated solutions, products, systems, and services, including wellheads, subsea trees, manifolds and flowline connectors, control systems, connectors, and services.
SLB N.V. was formerly known as Schlumberger Limited and change its name to SLB N.V. in October 2025. The company was founded in 1926 and is based in Houston, Texas.
Stock analysis
Schlumberger NV (SLB) currently trades at $51.56, while our model-based Fair Value estimate is $29.03, 44% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $37.07 per share, and 3 of the 26 models we run sit above the $51.56 price.
Bear case: the Earnings-Based group reads lowest at $13.32, and 23 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $21.44 (bear) to $36.29 (bull), the price of $51.56 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Energy sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Schlumberger NV reported revenue of $35.7B in FY2025 versus $22.9B in FY2021, a compound +11.7%/yr. Reported net income was $3.4B in FY2025, compounding +15.5%/yr from FY2021.
Key figures
Market cap $78.1B Large · P/E ratio 25.0 · P/S ratio 2.12 · EPS (TTM) $2.06 · Dividend yield 2.3% · Net margin 8.4% · Return on equity 11.7% · Return on assets (EBIT) 10.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 50% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −26% fair-value upside, at −44%, SLB screens richer than that median.
Fair Value models
Bear$21.44Fair Value $29.03Bull$36.29
Price $51.56 · Downside -43.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.7559 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 4 officers or directors sold shares worth $9.8M and none bought.
SaleOlivier Le PeuchChief Executive Officer, Director11× since Jan 28, 2026: 245,000 shares, avg. $54.29$13.3MNov 2, 202610b5-1 plan
SaleDianne B. RalstonChief Legal Officer & Sec2× since Jan 26, 2026: 39,603 shares, avg. $51.66$2.0MOct 30, 2026
SaleHoward GuildChief Accounting Officer2× since Jan 26, 2026: 23,315 shares, avg. $51.40$1.2MOct 29, 2026
SalePatrick de La ChevardiereDirector3× since Jan 26, 2026: 10,000 shares, avg. $51.79$517,920May 7, 2026
SaleSteve Matthew GassenEVP, Geographies53,379 shares at $56.18$3.0MMay 1, 2026
SaleStephane BiguetEVP & CFO2× since Nov 13, 2025: 99,464 shares, avg. $44.69$4.4MJan 26, 2026
SaleAbdellah MeradEVP, Core Services & Equipment2× since Nov 11, 2025: 120,000 shares, avg. $43.70$5.2MJan 26, 2026
SalePeter John ColemanDirector5,500 shares at $35.82$197,010Nov 26, 2025
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.6%
Start year 2020 (pandemic). Over 10 years: +0.1% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+14.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.1%
Dividend (yield on the price)2.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11.3% vs −2.5%, picking up
Profit margin 2019 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−2% → 15%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 3.4%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +3.7% a year for the price and +4.2% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Financial stability anchors the moderate business position while thin public signals on durable advantages and limited governance details form the central weakness.
Main risk: Operators deploying in-house AI tools for data interpretation and reservoir engineering could reduce demand for SLB’s specialised subsurface services and compress margins in its Digital and Reservoir Performance segments.
Bull case: By integrating generative AI into its Delfi and Lumi platforms and expanding data center solutions, SLB could capture recurring digital revenues and offset any commoditisation of traditional services.
Bear case: If operators increasingly handle subsurface analysis internally with AI, SLB’s high-margin interpretation and consulting work could face sustained pricing pressure and lower volumes.
SLB delivered sequential revenue growth across its core oilfield services, helped by Middle East recovery and deepwater momentum. Its Data Center Solutions segment is scaling rapidly to support AI infrastructure, aided by the planned Kelvion acquisition for thermal management expertise. Our models currently see the stock as overvalued. Will the established equipment and services business provide steady ballast while the new ventures mature, or might the AI exposure lift growth well above traditional energy cycles?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Equipment & Services · 167 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−43.7% · Bottom 25%
Profitability
Return on equity (12 months)11.7% · Above median
Return on assets6.1% · Above median
Net margin (12 months)8.4% · Above median
Operating margin (12 months)12.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)5.8% · Below median
Dividend yield (12 months)2.3% · Above median
Balance sheet
Debt / equity0.37× · Above median
Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper
P/E (12 months)25.0× · Pricier than median
P/B2.99× · Priciest 25%
P/S (12 months)2.12× · Pricier than median
Price / free cash flow17.2× · Pricier than median
EV/EBITDA11.7× · Pricier than median
PEG1.42× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 22
FUTURE (revenue growth)29· sector 34
PAST (return on equity)47· sector 25
HEALTH (low debt)81· sector 91
DIVIDEND (yield)45· sector 44
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Schlumberger NV Fair Value". https://www.fairvalue-calculator.com/stock/SLB
Frequently asked questions
Is Schlumberger NV (SLB) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of $29.03 versus a price of $51.56, about 44% lower (overvalued).
What is the fair value of SLB?
Our model-based fair value for Schlumberger NV is $29.03 (as of Nov 3, 2026), built from audited fundamentals. The current price: $51.56.
What is the quality score of SLB?
Schlumberger NV has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Schlumberger NV (SLB)?
Our model-based price target is the fair value of $29.03 (as of Nov 3, 2026) from 26 valuation models. Cautious scenario $21.44, optimistic scenario $36.29. It is a calculation from audited fundamentals, not an analyst target.
What is the Schlumberger NV stock forecast for 2026?
Our models put fair value at $29.03, about 44% lower versus a price of $51.56 (overvalued). Cautious scenario $21.44, optimistic scenario $36.29. The calculation is refreshed regularly with new filings.
What is the revenue of Schlumberger NV (SLB)?
Schlumberger NV reported trailing-twelve-month revenue of about $36.9B (latest available figure, as of Nov 3, 2026).
Does Schlumberger NV pay a dividend?
Schlumberger NV currently shows a dividend yield of 2.27% relative to its recent price (as of Nov 3, 2026).
What growth is priced into Schlumberger NV (SLB)?
For today's price to be fair in a discounted-cash-flow model, Schlumberger NV would have to grow free cash flow by +6.2 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.6 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of SLB use?
Our models discount Schlumberger NV at 8.9 %: a base by market capitalisation (large), damped by beta 0.84, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Schlumberger NV that is +6.2 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Schlumberger NV (SLB) delivered so far?
Over the past 5 years revenue at Schlumberger NV grew +8.6 % a year. The price currently implies +6.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Schlumberger NV (SLB) growing?
The median revenue growth in the sector is +14.2 % a year. That is the yardstick for the growth priced into Schlumberger NV (+6.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Schlumberger NV (SLB)?
The free-cash-flow yield on the price is 5.82 %: that much free cash flow Schlumberger NV produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Schlumberger NV (SLB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Schlumberger NV it is $29.03 per share (as of Nov 3, 2026), against a price of $51.56. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Schlumberger NV stock overvalued or undervalued in 2026?
As of Nov 3, 2026, SLB trades above its calculated fair value: price $51.56, fair value $29.03, a gap of about −44% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SLB?
No. The price is what the market pays today ($51.56); the fair value is what the company's own numbers justify ($29.03). For Schlumberger NV the two are $22.53 per share apart. That gap is exactly why we show both numbers side by side.
How much is Schlumberger NV worth?
The market values Schlumberger NV at about $78.1B (market capitalisation, as of Nov 3, 2026). Per share that is $51.56; our models calculate a fair value of $29.03 per share.
What do the bullish and bearish scenarios say about SLB?
Our models span a range for Schlumberger NV: cautious scenario $21.44, base $29.03, optimistic $36.29 per share (as of Nov 3, 2026, price $51.56). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SLB?
Schlumberger NV trades at a price-to-earnings ratio of 25.0 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $29.03 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 20.7 (reported for FY2025: 22.9). Median P/E at fiscal year-end, 6 fiscal years (2018 to 2025), reported earnings, 5 of the years ex one-offs: 19.6. Other multiples: PEG 1.4, P/B 3.0, P/S 2.1, EV/EBITDA 11.7.
What is the PEG ratio of SLB?
The PEG ratio of Schlumberger NV is 1.42 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Schlumberger NV (SLB)?
Balance-sheet figures for Schlumberger NV (as of Nov 3, 2026): return on equity 11.7%, debt of 0.37 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is SLB from its 52-week high?
Schlumberger NV trades at $51.56, about 14% below its 52-week high of $59.79 and 50% above the low of $34.35 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $29.03 is for.
Which stocks are comparable to Schlumberger NV?
From the same area (Energy) we also value Baker Hughes Company, Tenaris S.A, Halliburton Company, TechnipFMC plc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Schlumberger NV stock attractive at the current price?
The data as of Nov 3, 2026: price $51.56, calculated fair value $29.03 (−44%), Quality Score 54/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SLB calculated?
We run Schlumberger NV through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $29.03, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Schlumberger NV itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Schlumberger NV (SLB)?
The closing price on Nov 4, 2026 was $51.56. Our model-based fair value is $29.03, about 44% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Schlumberger NV right now?
The price sits above even our optimistic bull case ($36.29). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Schlumberger NV (SLB) come from?
Earnings per share at Schlumberger NV grew −0.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share −3.1 %, EBIT margin −0.9 %, tax rate +0.9 %, residual (interest, one-offs) +2.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Schlumberger NV
How large is the market capitalisation of Schlumberger NV (SLB)?
The market capitalisation of Schlumberger NV is $78.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Schlumberger NV (SLB)?
The price-to-sales ratio of Schlumberger NV is 2.12 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Schlumberger NV (SLB)?
Earnings per share at Schlumberger NV are $2.06 (price ÷ EPS = P/E 25.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Schlumberger NV (SLB)?
The dividend yield of Schlumberger NV is 2.3% (payout 51.3%, on adjusted earnings, reported 56.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Schlumberger NV (SLB)?
The net margin of Schlumberger NV is 8.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Schlumberger NV (SLB)?
The return on equity (ROE) of Schlumberger NV is 11.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Schlumberger NV (SLB)?
On an EBIT basis the return on assets of Schlumberger NV is 10.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Schlumberger NV (SLB)?
The operating margin of Schlumberger NV is 12.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Schlumberger NV (SLB)?
Revenue at Schlumberger NV is growing +5.8% versus a year earlier (3y avg +8.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Schlumberger NV (SLB)?
Earnings per share at Schlumberger NV are growing −2.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Schlumberger NV (SLB) carry?
The net debt of Schlumberger NV is $9.3B (fiscal year 2025, ≈ 2.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 3, 2026