Projected Income Statement: SLB N.V.

Forecast Balance Sheet: SLB N.V.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 11,056 9,332 7,976 7,405 7,424 6,945 5,609 3,380
Change - -15.59% -14.53% -7.16% 0.26% -6.45% -19.24% -39.74%
Announcement Date 1/21/22 1/20/23 1/19/24 1/17/25 1/23/26 - - -
1USD in Million
Estimates

Cash Flow Forecast: SLB N.V.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 1,141 1,618 1,939 1,931 1,694 2,128 2,176 2,255
Change - 41.81% 19.84% -0.41% -12.27% 25.62% 2.25% 3.63%
Free Cash Flow (FCF) 1 2,997 1,418 4,038 3,990 4,115 4,542 5,064 6,219
Change - -52.69% 184.77% -1.19% 3.13% 10.38% 11.49% 22.81%
Announcement Date 1/21/22 1/20/23 1/19/24 1/17/25 1/23/26 - - -
1USD in Million
Estimates

Forecast Financial Ratios: SLB N.V.

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 21.42% 23.21% 24.46% 24.99% 23.7% 23.66% 24.34% 24.58%
EBIT Margin (%) 12.18% 15.57% 17.49% 18.12% 16.28% 16.11% 17.22% 18.26%
EBT Margin (%) 10.35% 15.2% 15.94% 15.63% 12.02% 14.69% 15.66% 17.5%
Net margin (%) 8.2% 12.25% 12.68% 12.29% 9.45% 11.51% 12.51% 13.46%
FCF margin (%) 13.07% 5.05% 12.19% 11% 11.52% 12.18% 12.99% 15.25%
FCF / Net Income (%) 159.33% 41.21% 96.07% 89.44% 121.96% 105.84% 103.81% 113.25%

Profitability

        
ROA 4.61% 8.13% 9.23% 9.21% 8.11% 7.82% 8.65% 9.55%
ROE 13.53% 20.68% 21.36% 20.41% 16.96% 16.3% 17.65% 19.16%

Financial Health

        
Leverage (Debt/EBITDA) 2.25x 1.43x 0.98x 0.82x 0.88x 0.79x 0.59x 0.34x
Debt / Free cash flow 3.69x 6.58x 1.98x 1.86x 1.8x 1.53x 1.11x 0.54x

Capital Intensity

        
CAPEX / Current Assets (%) 4.98% 5.76% 5.85% 5.32% 4.74% 5.71% 5.58% 5.53%
CAPEX / EBITDA (%) 23.23% 24.81% 23.92% 21.29% 20.02% 24.13% 22.93% 22.49%
CAPEX / FCF (%) 38.07% 114.1% 48.02% 48.4% 41.17% 46.85% 42.96% 36.26%

Items per share

        
Cash flow per share 1 3.291 3.778 4.599 4.598 4.474 4.504 4.917 -
Change - 14.8% 21.74% -0.04% -2.69% 0.68% 9.15% -
Dividend per Share 1 0.5 0.725 1.025 1.1 1.14 1.183 1.242 1.353
Change - 45% 41.38% 7.32% 3.64% 3.77% 5.01% 8.93%
Book Value Per Share 1 10.72 12.45 14.95 15.56 18.99 18.51 19.8 20.31
Change - 16.2% 20.03% 4.13% 22.02% -2.56% 7.02% 2.54%
EPS 1 1.32 2.39 2.91 3.11 2.35 2.885 3.35 3.819
Change - 81.06% 21.76% 6.87% -24.44% 22.77% 16.13% 13.99%
Nbr of stocks (in thousands) 1,402,633 1,417,994 1,428,270 1,412,154 1,493,924 1,501,133 1,501,133 1,501,133
Announcement Date 1/21/22 1/20/23 1/19/24 1/17/25 1/23/26 - - -
1USD
Estimates
2026 *2027 *
P/E ratio 16.3x 14x
PBR 2.53x 2.37x
EV / Sales 2.07x 1.95x
Yield 2.52% 2.65%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
29
Last Close Price
46.90USD
Average target price
55.55USD
Spread / Average Target
+18.44%

Quarterly revenue - Rate of surprise