Stock Analysis on Net
Stock Analysis on Net

Schlumberger Ltd. (NYSE:SLB)

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Schlumberger Ltd., adjusted financial ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Activity Ratio
Total Asset Turnover
Reported 0.69 0.65 0.55 0.56 0.58
Adjusted 0.69 0.65 0.55 0.55 0.58
Liquidity Ratio
Current Ratio
Reported 1.32 1.25 1.22 1.23 1.19
Adjusted 1.35 1.28 1.25 1.26 1.21
Solvency Ratios
Debt to Equity
Reported 0.59 0.69 0.95 1.40 0.64
Adjusted 0.59 0.70 0.96 1.40 0.67
Debt to Capital
Reported 0.37 0.41 0.49 0.58 0.39
Adjusted 0.37 0.41 0.49 0.58 0.40
Financial Leverage
Reported 2.38 2.44 2.77 3.52 2.37
Adjusted 2.21 2.36 2.66 3.34 2.27
Profitability Ratios
Net Profit Margin
Reported 12.68% 12.25% 8.20% -44.57% -30.80%
Adjusted 11.77% 11.35% 14.08% -51.41% -33.20%
Return on Equity (ROE)
Reported 20.82% 19.46% 12.54% -87.13% -42.66%
Adjusted 17.86% 17.34% 20.57% -94.73% -43.85%
Return on Assets (ROA)
Reported 8.76% 7.98% 4.53% -24.79% -18.00%
Adjusted 8.08% 7.34% 7.72% -28.39% -19.32%

Based on: 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), 10-K (reporting date: 2019-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Schlumberger Ltd. adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Schlumberger Ltd. adjusted current ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Schlumberger Ltd. adjusted debt-to-equity ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Schlumberger Ltd. adjusted debt-to-capital ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Schlumberger Ltd. adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Schlumberger Ltd. adjusted net profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Schlumberger Ltd. adjusted ROE deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Schlumberger Ltd. adjusted ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Schlumberger Ltd., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Revenue 33,135 28,091 22,929 23,601 32,917
Total assets 47,957 43,135 41,511 42,434 56,312
Activity Ratio
Total asset turnover1 0.69 0.65 0.55 0.56 0.58
Adjusted
Selected Financial Data (US$ in millions)
Revenue 33,135 28,091 22,929 23,601 32,917
Adjusted total assets2 48,294 43,475 41,830 42,735 56,567
Activity Ratio
Adjusted total asset turnover3 0.69 0.65 0.55 0.55 0.58

Based on: 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), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Total asset turnover = Revenue ÷ Total assets
= 33,135 ÷ 47,957 = 0.69

2 Adjusted total assets. See details »

3 2023 Calculation
Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= 33,135 ÷ 48,294 = 0.69

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Schlumberger Ltd. adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Current assets 17,718 15,003 12,654 12,919 15,530
Current liabilities 13,395 12,018 10,359 10,491 13,098
Liquidity Ratio
Current ratio1 1.32 1.25 1.22 1.23 1.19
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 18,055 15,343 12,973 13,220 15,785
Current liabilities 13,395 12,018 10,359 10,491 13,098
Liquidity Ratio
Adjusted current ratio3 1.35 1.28 1.25 1.26 1.21

Based on: 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), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 17,718 ÷ 13,395 = 1.32

2 Adjusted current assets. See details »

3 2023 Calculation
Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= 18,055 ÷ 13,395 = 1.35

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Schlumberger Ltd. adjusted current ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt 11,965 12,226 14,195 16,886 15,294
Total SLB stockholders’ equity 20,189 17,685 15,004 12,071 23,760
Solvency Ratio
Debt to equity1 0.59 0.69 0.95 1.40 0.64
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 12,775 12,925 15,009 17,897 16,705
Adjusted total equity3 21,836 18,390 15,699 12,809 24,922
Solvency Ratio
Adjusted debt to equity4 0.59 0.70 0.96 1.40 0.67

Based on: 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), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to equity = Total debt ÷ Total SLB stockholders’ equity
= 11,965 ÷ 20,189 = 0.59

2 Adjusted total debt. See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 12,775 ÷ 21,836 = 0.59

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Schlumberger Ltd. adjusted debt-to-equity ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt 11,965 12,226 14,195 16,886 15,294
Total capital 32,154 29,911 29,199 28,957 39,054
Solvency Ratio
Debt to capital1 0.37 0.41 0.49 0.58 0.39
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 12,775 12,925 15,009 17,897 16,705
Adjusted total capital3 34,611 31,315 30,708 30,706 41,627
Solvency Ratio
Adjusted debt to capital4 0.37 0.41 0.49 0.58 0.40

Based on: 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), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 11,965 ÷ 32,154 = 0.37

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2023 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 12,775 ÷ 34,611 = 0.37

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Schlumberger Ltd. adjusted debt-to-capital ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total assets 47,957 43,135 41,511 42,434 56,312
Total SLB stockholders’ equity 20,189 17,685 15,004 12,071 23,760
Solvency Ratio
Financial leverage1 2.38 2.44 2.77 3.52 2.37
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 48,294 43,475 41,830 42,735 56,567
Adjusted total equity3 21,836 18,390 15,699 12,809 24,922
Solvency Ratio
Adjusted financial leverage4 2.21 2.36 2.66 3.34 2.27

Based on: 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), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Financial leverage = Total assets ÷ Total SLB stockholders’ equity
= 47,957 ÷ 20,189 = 2.38

2 Adjusted total assets. See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 48,294 ÷ 21,836 = 2.21

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Schlumberger Ltd. adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to SLB 4,203 3,441 1,881 (10,518) (10,137)
Revenue 33,135 28,091 22,929 23,601 32,917
Profitability Ratio
Net profit margin1 12.68% 12.25% 8.20% -44.57% -30.80%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 3,901 3,189 3,229 (12,134) (10,928)
Revenue 33,135 28,091 22,929 23,601 32,917
Profitability Ratio
Adjusted net profit margin3 11.77% 11.35% 14.08% -51.41% -33.20%

Based on: 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), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Net profit margin = 100 × Net income (loss) attributable to SLB ÷ Revenue
= 100 × 4,203 ÷ 33,135 = 12.68%

2 Adjusted net income (loss). See details »

3 2023 Calculation
Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Revenue
= 100 × 3,901 ÷ 33,135 = 11.77%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Schlumberger Ltd. adjusted net profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to SLB 4,203 3,441 1,881 (10,518) (10,137)
Total SLB stockholders’ equity 20,189 17,685 15,004 12,071 23,760
Profitability Ratio
ROE1 20.82% 19.46% 12.54% -87.13% -42.66%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 3,901 3,189 3,229 (12,134) (10,928)
Adjusted total equity3 21,836 18,390 15,699 12,809 24,922
Profitability Ratio
Adjusted ROE4 17.86% 17.34% 20.57% -94.73% -43.85%

Based on: 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), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
ROE = 100 × Net income (loss) attributable to SLB ÷ Total SLB stockholders’ equity
= 100 × 4,203 ÷ 20,189 = 20.82%

2 Adjusted net income (loss). See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted total equity
= 100 × 3,901 ÷ 21,836 = 17.86%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Schlumberger Ltd. adjusted ROE deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to SLB 4,203 3,441 1,881 (10,518) (10,137)
Total assets 47,957 43,135 41,511 42,434 56,312
Profitability Ratio
ROA1 8.76% 7.98% 4.53% -24.79% -18.00%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 3,901 3,189 3,229 (12,134) (10,928)
Adjusted total assets3 48,294 43,475 41,830 42,735 56,567
Profitability Ratio
Adjusted ROA4 8.08% 7.34% 7.72% -28.39% -19.32%

Based on: 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), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
ROA = 100 × Net income (loss) attributable to SLB ÷ Total assets
= 100 × 4,203 ÷ 47,957 = 8.76%

2 Adjusted net income (loss). See details »

3 Adjusted total assets. See details »

4 2023 Calculation
Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × 3,901 ÷ 48,294 = 8.08%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Schlumberger Ltd. adjusted ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.