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 7,474 6,400 4,796
Change - -15.59% -14.53% -7.16% 0.26% 0.67% -14.37% -25.06%
Announcement Date 1/21/22 A 1/20/23 A 1/19/24 A 1/17/25 A 1/23/26 A - - -
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 1,996 2,269 2,497
Change - 41.81% 19.84% -0.41% -12.27% 17.8% 13.71% 10.06%
Free Cash Flow (FCF) 1 2,997 1,418 4,038 3,990 4,115 4,484 5,181 6,152
Change - -52.69% 184.77% -1.19% 3.13% 8.96% 15.55% 18.76%
Announcement Date 1/21/22 A 1/20/23 A 1/19/24 A 1/17/25 A 1/23/26 A - - -
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% 21.9% 23.49% 24.17%
EBIT Margin (%) 12.18% 15.57% 17.49% 18.12% 16.28% 14.11% 16.26% 17.43%
EBT Margin (%) 10.35% 15.2% 15.94% 15.63% 12.02% 12.46% 14.92% 16.51%
Net margin (%) 8.2% 12.25% 12.68% 12.29% 9.45% 10.01% 11.95% 12.91%
FCF margin (%) 13.07% 5.05% 12.19% 11% 11.52% 12.11% 13.01% 14.59%
FCF / Net Income (%) 159.33% 41.21% 96.07% 89.44% 121.96% 120.96% 108.89% 113.02%

Profitability

        
ROA 4.61% 8.13% 9.23% 9.21% 8.11% 6.42% 7.65% 9.2%
ROE 13.53% 20.68% 21.36% 20.41% 16.96% 13.84% 17.68% 19.86%

Financial Health

        
Leverage (Debt/EBITDA) 2.25x 1.43x 0.98x 0.82x 0.88x 0.92x 0.68x 0.47x
Debt / Free cash flow 3.69x 6.58x 1.98x 1.86x 1.8x 1.67x 1.24x 0.78x

Capital Intensity

        
CAPEX / Current Assets (%) 4.98% 5.76% 5.85% 5.32% 4.74% 5.39% 5.7% 5.92%
CAPEX / EBITDA (%) 23.23% 24.81% 23.92% 21.29% 20.02% 24.61% 24.26% 24.5%
CAPEX / FCF (%) 38.07% 114.1% 48.02% 48.4% 41.17% 44.51% 43.8% 40.59%

Items per share

        
Cash flow per share 1 3.291 3.778 4.599 4.598 4.474 4.432 5.018 5.68
Change - 14.8% 21.74% -0.04% -2.69% -0.93% 13.21% 13.2%
Dividend per Share 1 0.5 0.725 1.025 1.1 1.14 1.174 1.23 1.315
Change - 45% 41.38% 7.32% 3.64% 2.96% 4.82% 6.89%
Book Value Per Share 1 10.72 12.45 14.95 15.56 18.99 17.7 18.13 18.96
Change - 16.2% 20.03% 4.13% 22.02% -6.78% 2.39% 4.57%
EPS 1 1.32 2.39 2.91 3.11 2.35 2.46 3.237 3.783
Change - 81.06% 21.76% 6.87% -24.44% 4.66% 31.62% 16.86%
Nbr of stocks (in thousands) 1,402,633 1,417,994 1,428,270 1,412,154 1,493,924 1,484,143 1,484,143 1,484,143
Announcement Date 1/21/22 A 1/20/23 A 1/19/24 A 1/17/25 A 1/23/26 A - - -
1USD
Estimates
2026 *2027 *
P/E 21.8x 16.5x
PBR 3.02x 2.95x
EV / Sales 2.35x 2.16x
Yield 2.19% 2.3%

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
30
Last Close Price
53.55USD
Average target price
61.93USD
Spread / Average Target
+15.65%

Quarterly revenue - Rate of surprise