Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Short-term Activity Ratios (Summary)
Inventory Turnover
Receivables Turnover
Payables Turnover
Working Capital Turnover
Average Inventory Processing Period
Average Receivable Collection Period
Operating Cycle
Average Payables Payment Period
Cash Conversion Cycle

Schlumberger Ltd., short-term (operating) activity ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Turnover Ratios
Inventory turnover	6.06	5.73	5.89	6.26	6.95
Receivables turnover	4.24	3.99	4.31	4.50	4.25
Payables turnover	5.76	5.85	6.01	7.15	6.00
Working capital turnover	7.66	9.41	9.99	9.72	13.53
Average No. Days
Average inventory processing period	60	64	62	58	52
Add: Average receivable collection period	86	91	85	81	86
Operating cycle	146	155	147	139	138
Less: Average payables payment period	63	62	61	51	61
Cash conversion cycle	83	93	86	88	77

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).

Download chart

Short-term activity ratio	Description	The company
Inventory turnover	An activity ratio calculated as cost of goods sold divided by inventory.	Schlumberger Ltd. inventory turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Receivables turnover	An activity ratio equal to revenue divided by receivables.	Schlumberger Ltd. receivables turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Payables turnover	An activity ratio calculated as cost of goods sold divided by payables.	Schlumberger Ltd. payables turnover ratio decreased from 2021 to 2022 and from 2022 to 2023.
Working capital turnover	An activity ratio calculated as revenue divided by working capital.	Schlumberger Ltd. working capital turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Download chart

Short-term activity ratio	Description	The company
Average inventory processing period	An activity ratio equal to the number of days in the period divided by inventory turnover over the period.	Schlumberger Ltd. number of days of inventory outstanding deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Average receivable collection period	An activity ratio equal to the number of days in the period divided by receivables turnover.	Schlumberger Ltd. number of days of receivables outstanding deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Operating cycle	Equal to average inventory processing period plus average receivables collection period.	Schlumberger Ltd. operating cycle deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Average payables payment period	An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.	Schlumberger Ltd. number of days of payables outstanding increased from 2021 to 2022 and from 2022 to 2023.
Cash conversion cycle	A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.	Schlumberger Ltd. cash conversion cycle deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Schlumberger Ltd., inventory turnover calculation, comparison to benchmarks

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Cost of revenue	26,572)	22,930)	19,271)	21,000)	28,720)
Inventories	4,387)	3,999)	3,272)	3,354)	4,130)
Short-term Activity Ratio
Inventory turnover¹	6.06	5.73	5.89	6.26	6.95
Benchmarks
Inventory Turnover, Industry
Energy	15.45	19.51	16.27	10.31	14.32

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
Inventory turnover = Cost of revenue ÷ Inventories
= 26,572 ÷ 4,387 = 6.06

Download chart

Short-term activity ratio	Description	The company
Inventory turnover	An activity ratio calculated as cost of goods sold divided by inventory.	Schlumberger Ltd. inventory turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Schlumberger Ltd., receivables turnover calculation, comparison to benchmarks

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenue	33,135)	28,091)	22,929)	23,601)	32,917)
Receivables less allowance for doubtful accounts	7,812)	7,032)	5,315)	5,247)	7,747)
Short-term Activity Ratio
Receivables turnover¹	4.24	3.99	4.31	4.50	4.25
Benchmarks
Receivables Turnover, Industry
Energy	10.55	11.79	9.24	9.67	10.53

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
Receivables turnover = Revenue ÷ Receivables less allowance for doubtful accounts
= 33,135 ÷ 7,812 = 4.24

Download chart

Short-term activity ratio	Description	The company
Receivables turnover	An activity ratio equal to revenue divided by receivables.	Schlumberger Ltd. receivables turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Schlumberger Ltd., payables turnover calculation, comparison to benchmarks

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Cost of revenue	26,572)	22,930)	19,271)	21,000)	28,720)
Trade accounts payable	4,613)	3,921)	3,205)	2,937)	4,790)
Short-term Activity Ratio
Payables turnover¹	5.76	5.85	6.01	7.15	6.00
Benchmarks
Payables Turnover, Industry
Energy	9.89	11.50	9.15	9.07	9.14

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
Payables turnover = Cost of revenue ÷ Trade accounts payable
= 26,572 ÷ 4,613 = 5.76

Download chart

Short-term activity ratio	Description	The company
Payables turnover	An activity ratio calculated as cost of goods sold divided by payables.	Schlumberger Ltd. payables turnover ratio decreased from 2021 to 2022 and from 2022 to 2023.

Schlumberger Ltd., working capital turnover calculation, comparison to benchmarks

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Current assets	17,718)	15,003)	12,654)	12,919)	15,530)
Less: Current liabilities	13,395)	12,018)	10,359)	10,491)	13,098)
Working capital	4,323)	2,985)	2,295)	2,428)	2,432)

Revenue	33,135)	28,091)	22,929)	23,601)	32,917)
Short-term Activity Ratio
Working capital turnover¹	7.66	9.41	9.99	9.72	13.53
Benchmarks
Working Capital Turnover, Industry
Energy	13.57	14.76	22.01	21.93	51.98

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
Working capital turnover = Revenue ÷ Working capital
= 33,135 ÷ 4,323 = 7.66

Download chart

Short-term activity ratio	Description	The company
Working capital turnover	An activity ratio calculated as revenue divided by working capital.	Schlumberger Ltd. working capital turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Schlumberger Ltd., average inventory processing period calculation, comparison to benchmarks

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data
Inventory turnover	6.06	5.73	5.89	6.26	6.95
Short-term Activity Ratio (no. days)
Average inventory processing period¹	60	64	62	58	52
Benchmarks (no. days)
Average Inventory Processing Period, Industry
Energy	24	19	22	35	25

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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 6.06 = 60

Download chart

Short-term activity ratio	Description	The company
Average inventory processing period	An activity ratio equal to the number of days in the period divided by inventory turnover over the period.	Schlumberger Ltd. number of days of inventory outstanding deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Schlumberger Ltd., average receivable collection period calculation, comparison to benchmarks

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data
Receivables turnover	4.24	3.99	4.31	4.50	4.25
Short-term Activity Ratio (no. days)
Average receivable collection period¹	86	91	85	81	86
Benchmarks (no. days)
Average Receivable Collection Period, Industry
Energy	35	31	40	38	35

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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 4.24 = 86

Download chart

Short-term activity ratio	Description	The company
Average receivable collection period	An activity ratio equal to the number of days in the period divided by receivables turnover.	Schlumberger Ltd. number of days of receivables outstanding deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Schlumberger Ltd., operating cycle calculation, comparison to benchmarks

No. days

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data
Average inventory processing period	60	64	62	58	52
Average receivable collection period	86	91	85	81	86
Short-term Activity Ratio
Operating cycle¹	146	155	147	139	138
Benchmarks
Operating Cycle, Industry
Energy	59	50	62	73	60

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
Operating cycle = Average inventory processing period + Average receivable collection period
= 60 + 86 = 146

Download chart

Short-term activity ratio	Description	The company
Operating cycle	Equal to average inventory processing period plus average receivables collection period.	Schlumberger Ltd. operating cycle deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Schlumberger Ltd., average payables payment period calculation, comparison to benchmarks

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data
Payables turnover	5.76	5.85	6.01	7.15	6.00
Short-term Activity Ratio (no. days)
Average payables payment period¹	63	62	61	51	61
Benchmarks (no. days)
Average Payables Payment Period, Industry
Energy	37	32	40	40	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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 5.76 = 63

Download chart

Short-term activity ratio	Description	The company
Average payables payment period	An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.	Schlumberger Ltd. number of days of payables outstanding increased from 2021 to 2022 and from 2022 to 2023.

Schlumberger Ltd., cash conversion cycle calculation, comparison to benchmarks

No. days

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data
Average inventory processing period	60	64	62	58	52
Average receivable collection period	86	91	85	81	86
Average payables payment period	63	62	61	51	61
Short-term Activity Ratio
Cash conversion cycle¹	83	93	86	88	77
Benchmarks
Cash Conversion Cycle, Industry
Energy	22	18	22	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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 60 + 86 – 63 = 83

Download chart

Short-term activity ratio	Description	The company
Cash conversion cycle	A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.	Schlumberger Ltd. cash conversion cycle deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Schlumberger Ltd. (NYSE:SLB)

Analysis of Short-term (Operating) Activity Ratios

Short-term Activity Ratios (Summary)

Inventory Turnover

Receivables Turnover

Payables Turnover

Working Capital Turnover

Average Inventory Processing Period

Average Receivable Collection Period

Operating Cycle

Average Payables Payment Period

Cash Conversion Cycle