SLB supplies oil and gas producers with reservoir, drilling, production and digital technologies, while expanding into data-center infrastructure and carbon capture.
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A snapshot of what SLB LIMITED/NV owns and owes at a point in time.
Read the company’s balance sheet in the original annual reports below.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 31, 20230000950170-24-006884 | Jan 24, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20240000950170-25-007638 | Jan 22, 2025 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20250001193125-26-021017 | Jan 23, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
SLB’s third-quarter 2026 recovery was real but incomplete. Revenue reached $9.449 billion, up 6% year on year, but growth was only 2% excluding ChampionX, and both GAAP and adjusted earnings remained below the prior year. Digital and data centers provided growth, while Middle East activity improved sequentially without recovering fully from conflict disruptions. Cash demands are also rising: nine-month shareholder distributions exceeded company-defined free cash flow, and September net debt was higher than at year-end. The proposed Kelvion acquisition would expand cooling capabilities but requires approximately $3.4 billion in cash plus assumed debt; completion remains subject to customary closing conditions and regulatory approvals, while financing arrangements are unspecified. As of October 24, 2026, the central picture is improving activity alongside weaker profitability, substantial capital commitments and continuing geopolitical exposure.
Sources: EX-99 · 2026-10-23 · EX-99 · 2026-08-31 · 10-K · 2025-12-31 · 8-K · 2026-10-23
SLB’s main businesses help customers evaluate reservoirs, drill wells and sustain production. Their economics remain tied to hydrocarbon spending, activity and pricing. Digital adds software, field-operation technology, exploration-data licenses and services—not solely recurring subscriptions. Asset Performance Solutions (APS) requires SLB-funded field investment, with compensation linked to production or project cash flow. Digital became a separate division in third-quarter 2025; APS, Data Center Solutions and Capturi moved into All Other, with comparatives recast. Digital Operations overlaps Core divisional reporting and is eliminated on consolidation.
Third-quarter 2026 Digital revenue increased 5% to $693 million, or 3% excluding ChampionX, with a 28.0% pretax segment margin. Data-center revenue grew 76% to $230 million, although new-project ramp-up costs reduced All Other’s sequential profitability. These businesses offer diversification, not insulation from oilfield weakness. SLB also completed its acquisition of S&P Global Energy’s geoscience and petroleum-engineering software portfolio on September 1, 2026; the separate purchase price was not disclosed.
Sources: 10-K · 2025-12-31 · EX-99 · 2026-10-23
Results released and furnished with the October 23 Form 8-K cover the quarter ended September 30, 2026. Revenue rose 5% sequentially and 6% year on year, but ChampionX contributed a full quarter versus two included months a year earlier. Acquisition-excluded growth was 2%; Core revenue was essentially flat on that basis. Management attributed sequential improvement to Middle East recovery, US land demand and international offshore activity. Middle East revenue nevertheless remained 12% below the prior year on a pro forma basis assuming ChampionX was acquired on January 1, 2025, with renewed disruption late in the quarter.
Quarterly GAAP income attributable to SLB was $735 million, or $0.49 per diluted share. Non-GAAP adjusted income was $962 million, or $0.64 per share, still down 6% and 7% year on year. Adjustments included a $187 million noncash pension settlement charge, with no tax benefit shown, and $55 million of pretax merger/integration expense. Nine-month revenue increased to $27.142 billion from $25.963 billion, while parent earnings fell to $2.273 billion from $2.550 billion. Higher diluted average shares also amplified the EPS decline. Prior-year adjustments included both unfavorable charges and a favorable Palliser disposal gain, so adjusted comparisons remove gains as well as costs.
Sources: EX-99 · 2026-10-23 · 10-K · 2025-12-31 · EX-99 · 2026-08-31 · 8-K · 2026-10-23
Nine-month operating cash flow declined to $3.356 billion from $3.484 billion as working capital absorbed $1.546 billion. SLB’s non-GAAP free cash flow fell to $1.521 billion from $1.826 billion after capital expenditures, APS investment and capitalized exploration data. It is neither profit nor cash available without further obligations. Dividends and repurchases totaled $3.060 billion, exceeding free cash flow by $1.539 billion before acquisitions and other financing effects. Full-year capital investment remains forecast at approximately $2.5 billion.
At September 30, cash and short-term investments totaled $3.551 billion; current and long-term borrowings together were $12.800 billion, and non-GAAP net debt was $9.249 billion versus $7.424 billion at year-end. May 7’s completed $2 billion face-value note issuance, filed May 12, was parent-guaranteed; face value is not net proceeds. Separately, June’s $5 billion undrawn facilities mature in 2029 and 2030. They are dated borrowing commitments, not September cash or proof of unconditional access or covenant headroom.
Sources: EX-99 · 2026-10-23 · 8-K · 2026-05-07 · 10-Q · 2026-06-30
The August 31 Kelvion agreement remained pending in October’s update. SLB proposes approximately $3.4 billion cash consideration plus $0.7 billion of assumed debt, with first-half 2027 closing subject to approvals and conditions. Kelvion would add cooling and heat-exchange capabilities. Management forecasts its 2026 revenue at $2.3–$2.4 billion and adjusted EBITDA at $350–$400 million, but supplies no GAAP reconciliation for that forecast. Targeted synergies and per-share accretion are unachieved expectations. Funding sources and detailed accretion assumptions are unspecified; the stated post-deal leverage target is not a covenant or committed financing.
Capturi also entails a contingent capital demand: following the second-quarter 2024 transaction and a three-year lock-up, ACC may sell its remaining 20% interest to SLB during a six-month window at fair market value, subject to a NOK 1.0 billion floor and NOK 2.1 billion ceiling. This counterparty put is distinct from SLB’s discretionary purchase option during the following six months, subject to a NOK 1.5 billion floor and NOK 2.6 billion ceiling. The supplied originals do not establish extinguishment or exercise of the put or payment under it.
Sources: EX-99 · 2026-08-31 · EX-99 · 2026-10-23 · 10-K · 2025-12-31
Middle East restrictions were already active in March, and recovery remains uneven. Management’s optimism for 2027 depends partly on recovering activity; it is not numerical earnings guidance. Other exposures include customer credit, sanctions, pricing and project-cost estimates. Capturi’s significant 2025 project loss was unquantified and separate from its $210 million goodwill impairment. Russia remained an operating exposure in the latest annual report, while residual Iranian banking dealings persisted in the June filing. Mine-safety exhibits report 2025 citations and an unassessed order; the second-quarter 2026 table does not establish that prior matters were resolved.
Sources: 8-K · 2026-03-11 · EX-99 · 2026-10-23 · 10-K · 2025-12-31 · 10-Q · 2026-06-30 · EX-95 · 2025-12-31 · EX-95 · 2026-06-30
USD 35.708 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 35.708 bn | -1.6% |
| 2024 | USD 36.289 bn | 9.5% |
| 2023 | USD 33.135 bn | — |
Consolidated revenue from services and product sales, after eliminations.
Sources: 10-K · 2025-12-31
USD 3.374 bn
FY2025 · GAAP · consolidated · Attribution: parent · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 3.374 bn | -24.4% |
| 2024 | USD 4.461 bn | 6.1% |
| 2023 | USD 4.203 bn | — |
Consolidated net income after deducting net income attributable to noncontrolling interests.
Sources: 10-K · 2025-12-31
USD 6.489 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 6.489 bn | -1.7% |
| 2024 | USD 6.602 bn | -0.5% |
| 2023 | USD 6.637 bn | — |
GAAP cash flow from operating activities; not net income.
Sources: 10-K · 2025-12-31
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