Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
SLB N.V., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The composition of liabilities and stockholders’ equity exhibited several notable trends over the observed period from March 2021 to December 2025. Overall, a shift in the balance between liabilities and equity is apparent, with fluctuations in specific liability accounts impacting the total structure.
- Current Liabilities
- Current liabilities, as a percentage of total liabilities and equity, generally remained in the 23% to 28% range throughout most of the period. A peak was observed in December 2022 at 27.86%, followed by a decrease to 25.13% by March 2023. A subsequent rise to 26.83% by September 2023 was followed by a slight decline to 26.18% by December 2024. This suggests a moderate level of short-term financial obligations.
- Long-Term Debt
- Long-term debt demonstrated a consistent downward trend as a percentage of total liabilities and equity, decreasing from 37.67% in March 2021 to 17.76% by September 2025. The most significant decline occurred between 2022 and 2024. This indicates a reduction in reliance on long-term financing.
- Stockholders’ Equity
- Total stockholders’ equity showed an increasing trend as a percentage of total liabilities and equity, rising from 29.84% in March 2021 to a peak of 49.74% in December 2025. This increase was not linear, with periods of slower growth and even slight declines, but the overall trajectory is upward. This suggests a strengthening of the company’s equity base.
- Common Stock & Treasury Stock
- Common stock remained relatively stable, fluctuating between approximately 23% and 31% of total liabilities and equity. Treasury stock consistently represented a negative percentage, increasing in magnitude over time, from -6.18% in March 2021 to -7.67% in June 2025. This indicates ongoing share repurchase activity.
- Retained Earnings
- Retained earnings exhibited a consistent upward trend, increasing from 16.99% in March 2021 to 32.93% in December 2025. This growth suggests consistent profitability and reinvestment of earnings.
- Other Key Liability Accounts
- Accounts payable and accrued liabilities remained relatively stable, fluctuating around 20% of total liabilities and equity. Estimated liability for taxes on income remained consistently below 3%. Short-term borrowings showed significant volatility, peaking at 4.88% in March 2022 before declining substantially. Dividends payable remained consistently around 1%. Postretirement benefits decreased significantly, particularly after December 2021, and Deferred taxes showed an increase in later periods.
The observed trends suggest a strategic shift towards a more equity-financed structure, coupled with a reduction in long-term debt. The consistent growth in retained earnings supports this observation. Fluctuations in short-term borrowings and accounts payable appear to be related to normal business operations and do not indicate significant concerns. The increasing magnitude of treasury stock suggests active capital management through share repurchases.