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SLB N.V (SLBG34) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of SLB N.V BRL 63.43, price BRL 126, upside -49.6%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Energy · BR · ISIN AN8068571086

SN Broad data Sep 29, 2026

SLB N.V

SLBG34 · SA

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value R$63.43 · Strongly overvalued (−49.6%)
!Quality 51/100
!Mixed Growth (revenue 5y +8.6 %/yr)
!Thin margins · 9.3% net margin (TTM)
✓Low debt · generates free cash flow
✓0.9% dividend yield · Well covered
!Moderate moat 54/100

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

R$156.66 R$63.43 Fair Value R$63.43 Jun 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.

How to read this chart

60‑month range R$63.43 – R$156.66 · fair‑value band R$43.85 – R$83.02 · the R$125.84 price screens above the R$63.43 fair value. Dashed = 300-day average. As of Sep 29, 2026.

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Company profile

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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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. 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

SLB N.V (SLBG34) currently trades at R$125.84, while our model-based Fair Value estimate is R$63.43, 49.6% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 26 models at a data quality of 91/100, which puts the evidence level at high.

Scenario range: R$43.85 (bear) to R$83.02 (bull), the price of R$125.84 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 51/100 (solid quality), in the Energy sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

SLB N.V 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 +15.7%/yr from FY2021.

Key figures

Market cap R$360B (≈ $68.9B) · P/E ratio 21.4 · P/S ratio 2.02 · EPS (TTM) R$5.88 · Dividend yield 0.9% · Net margin 9.4% · Return on equity 14.1% · Return on assets (EBIT) 9.7%.

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 20% below its 52-week high and 48% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Energy peers we cover trades at −23% fair-value upside, at −50%, SLBG34 screens richer than that median.

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Quality Score breakdown

Overall quality 51/100

Of which business quality 53 · Market factors (momentum, volatility) 63

Profitability 42
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 67
Distance to the 52-week high (market factor)
Net Issuance 39
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 76/100
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)
Revenue growth 9 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.
+2.8%
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.
+11.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.0%
Dividend (yield on the price)0.9%
Profit margin 2020 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.−46% → 13%

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far and less than 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).
−0.3%
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.
+5.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −2.7% a year for the price and +3.5% for the forecasts.
Forecast 2026 (sales)+2.1%
Forecast 2027 (sales)+8.0%
Projected 2028 (sales)+7.3%
Projected 2029 (sales)+6.5%
Projected 2030 (sales)+5.8%

SLBG34 screens overvalued: fair value 50% below the price. Compare with Baker Hughes Company →

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Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

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10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate.

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Tenaris S.A TEN €24.74 €19.30 −22%
Halliburton Company HAL $31.88 $21.56 −32%
Yantai Jereh Oilfield Services Group 002353 ¥116.02 ¥127.62 +10%
Subsea 7 S.A SUBC kr 324.80 kr 251.18 −23%
Saipem SpA SPM €4.30 €2.72 −37%
Gaztransport & Technigaz SA GTT €210.00 €231.00 +10%
China Oilfield Services Limited 601808 ¥12.12 ¥13.04 +8%
NOV Inc NOV $18.73 $8.59 −54%

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SLB N.V · Fair Value
R$63.43 −50%Fair Value
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Cite: Fair Value Calculator (2026). "SLB N.V Fair Value". https://www.fairvalue-calculator.com/stock/SLBG34

Frequently asked questions

Is SLB N.V (SLBG34) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of R$63.43 versus a price of R$125.84, about −50% upside (overvalued).
What is the fair value of SLBG34?
Our model-based fair value for SLB N.V is R$63.43 (as of Sep 29, 2026), built from audited fundamentals. The current price: R$125.84.
What is the quality score of SLBG34?
SLB N.V has a Quality Score of 51/100. 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 SLB N.V (SLBG34)?
Our model-based price target is the fair value of R$63.43 (as of Sep 29, 2026) from 26 valuation models. Cautious scenario R$43.85, optimistic scenario R$83.02. It is a calculation from audited fundamentals, not an analyst target.
What is the SLB N.V stock forecast for 2026?
Our models put fair value at R$63.43, about −50% upside versus a price of R$125.84 (overvalued). Cautious scenario R$43.85, optimistic scenario R$83.02. The calculation is refreshed regularly with new filings.
What is the revenue of SLB N.V (SLBG34)?
SLB N.V reported trailing-twelve-month revenue of about $35.9B (latest available figure, as of Sep 29, 2026).
Does SLB N.V pay a dividend?
SLB N.V currently shows a dividend yield of about 0.91% relative to its recent price (as of Sep 29, 2026).
What growth is priced into SLB N.V (SLBG34)?
For today's price to be fair in a discounted-cash-flow model, SLB N.V would have to grow free cash flow by -0.3 % per year for five years (discount rate 11.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.6 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of SLBG34 use?
Our models discount SLB N.V at 11.4 %: a base by market capitalisation (large), damped by beta 0.73, country premium for Brazil. 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 SLB N.V that is -0.3 % per year a year over ten years, using the same discount rate (11.4 %) and the same formula as our fair value.
How much growth has SLB N.V (SLBG34) delivered so far?
Over the past 5 years revenue at SLB N.V grew +8.6 % a year. The price currently implies -0.3 % 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 SLB N.V (SLBG34) growing?
The median revenue growth in the sector is +9.6 % a year. That is the yardstick for the growth priced into SLB N.V (-0.3 % 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 SLB N.V (SLBG34)?
The free-cash-flow yield on the price is 12.61 %: that much free cash flow SLB N.V produces per unit of market value. When it exceeds the discount rate of our models (11.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SLB N.V (SLBG34)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SLB N.V it is R$63.43 per share (as of Sep 29, 2026), against a price of R$125.84. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is SLB N.V stock overvalued or undervalued in 2026?
As of Sep 29, 2026, SLBG34 trades above its calculated fair value: price R$125.84, fair value R$63.43, a gap of about −50% (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 SLBG34?
No. The price is what the market pays today (R$125.84); the fair value is what the company's own numbers justify (R$63.43). For SLB N.V the two are R$62.41 per share apart. That gap is exactly why we show both numbers side by side.
How much is SLB N.V worth?
The market values SLB N.V at about R$360B (market capitalisation, as of Sep 29, 2026). Per share that is R$125.84; our models calculate a fair value of R$63.43 per share.
What do the bullish and bearish scenarios say about SLBG34?
Our models span a range for SLB N.V: cautious scenario R$43.85, base R$63.43, optimistic R$83.02 per share (as of Sep 29, 2026, price R$125.84). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is SLBG34 from its 52-week high?
SLB N.V trades at R$125.84, about 20% below its 52-week high of R$156.66 and 48% above the low of R$85.29 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of R$63.43 is for.
Which stocks are comparable to SLB N.V?
From the same area (Energy) we also value Baker Hughes Company, TechnipFMC plc, Tenaris S.A, Halliburton Company, 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 SLB N.V stock attractive at the current price?
The data as of Sep 29, 2026: price R$125.84, calculated fair value R$63.43 (−50%), Quality Score 51/100, 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 SLBG34 calculated?
We run SLB N.V 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 R$63.43, 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 14.5 % above its aggregate fair value. SLB N.V 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 SLB N.V (SLBG34)?
The closing price on Oct 2, 2026 was R$125.84. Our model-based fair value is R$63.43, about −50% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SLB N.V right now?
The price sits above even our optimistic bull case (R$83.02). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (R$43.85 to R$83.02) leaves room in how you read the outcome.

Key figures of SLB N.V

How large is the market capitalisation of SLB N.V (SLBG34)?
The market capitalisation of SLB N.V is R$360B (≈ $68.9B). 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/E ratio of SLB N.V (SLBG34)?
The price-to-earnings ratio of SLB N.V is 21.4. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of SLB N.V (SLBG34)?
The price-to-sales ratio of SLB N.V is 2.02 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SLB N.V (SLBG34)?
Earnings per share at SLB N.V are R$5.88 (price ÷ EPS = P/E 21.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SLB N.V (SLBG34)?
The dividend yield of SLB N.V is 0.9% (payout 19.6%). 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 SLB N.V (SLBG34)?
The net margin of SLB N.V is 9.4% (fiscal year 2025). 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 SLB N.V (SLBG34)?
The return on equity (ROE) of SLB N.V is 14.1% (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 SLB N.V (SLBG34)?
On an EBIT basis the return on assets of SLB N.V is 9.7% (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 SLB N.V (SLBG34)?
The operating margin of SLB N.V is 12.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SLB N.V (SLBG34)?
Revenue at SLB N.V is growing +2.7% 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 SLB N.V (SLBG34)?
Earnings per share at SLB N.V are growing −13.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does SLB N.V (SLBG34) carry?
The net debt of SLB N.V is $8.6B (fiscal year 2025, ≈ 1.9 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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