Market value added (MVA) is the difference between a firm fair value and its invested capital. MVA is a measure of the value a company has created in excess of the resources already committed to the enterprise.

MVA
MVA Spread Ratio
MVA Margin

Schlumberger Ltd., MVA calculation

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Fair value of debt¹	11,451)	11,323)	11,032)	14,809)	18,150)
Operating lease liability	742)	810)	699)	814)	1,011)
Market value of common equity	58,317)	73,753)	79,886)	55,855)	30,367)
Noncontrolling interests	1,220)	1,170)	304)	282)	418)
Less: Marketable securities	1,125)	1,089)	1,239)	1,382)	2,162)
Market (fair) value of SLB	70,605)	85,967)	90,682)	70,378)	47,784)
Less: Invested capital²	39,383)	37,776)	33,931)	32,896)	33,428)
MVA	31,222)	48,191)	56,751)	37,482)	14,356)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ Fair value of debt. See details »

² Invested capital. See details »

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Item	Description	The company
MVA	Schlumberger Ltd. market (fair) value less invested capital.	Schlumberger Ltd. MVA decreased from 2022 to 2023 and from 2023 to 2024.

Schlumberger Ltd., MVA spread ratio calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Market value added (MVA)¹	31,222)	48,191)	56,751)	37,482)	14,356)
Invested capital²	39,383)	37,776)	33,931)	32,896)	33,428)
Performance Ratio
MVA spread ratio³	79.28%	127.57%	167.25%	113.94%	42.94%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ MVA. See details »

² Invested capital. See details »

³ 2024 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 31,222 ÷ 39,383 = 79.28%

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Performance ratio	Description	The company
MVA spread ratio	The ratio of MVA to invested capital. It measures the efficiency with which investors’ capital investment has translated into a franchise value and into an aggregate net present value premium.	Schlumberger Ltd. MVA spread ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Schlumberger Ltd., MVA margin calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Market value added (MVA)¹	31,222)	48,191)	56,751)	37,482)	14,356)
Revenue	36,289)	33,135)	28,091)	22,929)	23,601)
Performance Ratio
MVA margin²	86.04%	145.44%	202.02%	163.47%	60.83%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ MVA. See details »

² 2024 Calculation
MVA margin = 100 × MVA ÷ Revenue
= 100 × 31,222 ÷ 36,289 = 86.04%

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Performance ratio	Description	The company
MVA margin	The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value.	Schlumberger Ltd. MVA margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Schlumberger Ltd. (NYSE:SLB)

Market Value Added (MVA)

MVA

MVA Spread Ratio

MVA Margin