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 7,346 6,384 4,512
Change - -15.59% -14.53% -7.16% 0.26% -1.05% -13.1% -29.32%
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 1,983 2,210 2,467
Change - 41.81% 19.84% -0.41% -12.27% 17.07% 11.45% 11.64%
Free Cash Flow (FCF) 1 2,997 1,418 4,038 3,990 4,115 4,332 5,130 6,248
Change - -52.69% 184.77% -1.19% 3.13% 5.27% 18.42% 21.8%
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% 21.98% 23.9% 24.57%
EBIT Margin (%) 12.18% 15.57% 17.49% 18.12% 16.28% 14.54% 17.05% 18.26%
EBT Margin (%) 10.35% 15.2% 15.94% 15.63% 12.02% 12.96% 15.18% 17.14%
Net margin (%) 8.2% 12.25% 12.68% 12.29% 9.45% 10.44% 12.41% 13.28%
FCF margin (%) 13.07% 5.05% 12.19% 11% 11.52% 11.87% 13.02% 14.87%
FCF / Net Income (%) 159.33% 41.21% 96.07% 89.44% 121.96% 113.63% 104.95% 111.96%

Profitability

        
ROA 4.61% 8.13% 9.23% 9.21% 8.11% 6.93% 8.2% 9%
ROE 13.53% 20.68% 21.36% 20.41% 16.96% 14.19% 17.89% 19.87%

Financial Health

        
Leverage (Debt/EBITDA) 2.25x 1.43x 0.98x 0.82x 0.88x 0.92x 0.68x 0.44x
Debt / Free cash flow 3.69x 6.58x 1.98x 1.86x 1.8x 1.7x 1.24x 0.72x

Capital Intensity

        
CAPEX / Current Assets (%) 4.98% 5.76% 5.85% 5.32% 4.74% 5.43% 5.61% 5.87%
CAPEX / EBITDA (%) 23.23% 24.81% 23.92% 21.29% 20.02% 24.71% 23.47% 23.89%
CAPEX / FCF (%) 38.07% 114.1% 48.02% 48.4% 41.17% 45.78% 43.09% 39.49%

Items per share

        
Cash flow per share 1 3.291 3.778 4.599 4.598 4.474 4.224 4.836 5.57
Change - 14.8% 21.74% -0.04% -2.69% -5.58% 14.48% 15.18%
Dividend per Share 1 0.5 0.725 1.025 1.1 1.14 1.176 1.239 1.323
Change - 45% 41.38% 7.32% 3.64% 3.15% 5.33% 6.85%
Book Value Per Share 1 10.72 12.45 14.95 15.56 18.99 18.03 18.98 19.66
Change - 16.2% 20.03% 4.13% 22.02% -5.04% 5.26% 3.54%
EPS 1 1.32 2.39 2.91 3.11 2.35 2.578 3.334 3.954
Change - 81.06% 21.76% 6.87% -24.44% 9.69% 29.35% 18.6%
Nbr of stocks (in thousands) 1,402,633 1,417,994 1,428,270 1,412,154 1,493,924 1,495,058 1,495,058 1,495,058
Announcement Date 1/21/22 1/20/23 1/19/24 1/17/25 1/23/26 - - -
1USD
Estimates
2026 *2027 *
P/E 18.4x 14.2x
PBR 2.63x 2.5x
EV / Sales 2.14x 1.96x
Yield 2.48% 2.61%

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
47.43USD
Average target price
61.79USD
Spread / Average Target
+30.28%

Quarterly revenue - Rate of surprise