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Schlumberger SLB

Schlumberger scores average on business quality (4.7 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$48.95Oct 10, 2026
Business qualityAverage
Next earningsOct 23, 2026, before the open
Insiders, 90 daysQuiet

Why it matters

  1. What Schlumberger does

    SLB provides oilfield services, equipment, and digital technology to global energy producers, helping them drill and extract oil and gas. The company is leaning into digital integration and low-carbon energy systems across its global operations to capture changing customer spending.

  2. What it does best

    SLB delivers superior free cash flow conversion, generating $4.8B in free cash flow on $36.4B in revenue. This cash generation sits in the top decile of its sector at the 53rd percentile for FCF margin, outperforming peers like Baker Hughes and Halliburton.

  3. The main risk

    Cyclical upstream spending cuts pose the primary threat, as exploration budgets directly dictate service pricing power. A sudden drop in global drilling activity immediately compresses operating margins and reduces service utilization.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityWeak

Operating margins sit at 14.2% while net margin reaches 8.5%. Profitability remains stable, but gross margins lag peers like Baker Hughes at 23.7%, showing that scale does not automatically yield high conversion at the gross level.

MoatWeak

SLB locks in global energy producers through proprietary digital platforms and hardware integration. Its gross margin of 17.1% ranks in the bottom quartile of its sector, reflecting heavy capital intensity that limits pure software-like pricing power.

GrowthSlow

Revenue declined 1.6% to $36.4B, showing a stall compared to prior years of recovery. Growth sits in the middle of the pack at the 40th sector percentile as exploration spending flattens.

Financial healthFair

SLB carries $11.6B of total debt against $4.2B in cash, yielding a manageable debt-to-equity ratio of 0.4. Interest coverage sits at 10.1x, making debt service comfortable while free cash flow holds steady near $4.8B.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

No open market buys or unplanned sales by executives or directors.

Our sealed record on SLB

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is SLB a good business?

Schlumberger scores average on the Cluenex quality check (4.7 of 10), measured against its own industry. Profitability is weak, moat weak, growth slow and financial health fair.

Are insiders buying SLB?

In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.

When does SLB report earnings?

Oct 23, 2026, before the open.

For members

See SLB today

  • Today's verdict on SLB, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Schlumberger (SLB)”, https://cluenex.com/stocks/slb/, data as of Oct 10, 2026.