Schlumberger Ltd., FCFE calculation

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net income (loss) attributable to SLB	4,461)	4,203)	3,441)	1,881)	(10,518)
Net income attributable to noncontrolling interests	118)	72)	51)	47)	32)
Net noncash charges	3,317)	2,611)	1,978)	2,358)	14,202)
Change in assets and liabilities, net of the effect of business acquisitions and divestitures	(1,294)	(249)	(1,750)	365)	(772)
Net cash provided by operating activities	6,602)	6,637)	3,720)	4,651)	2,944)
Capital expenditures	(1,931)	(1,939)	(1,618)	(1,141)	(1,116)
APS investments	(483)	(507)	(587)	(474)	(303)
Exploration data capitalized	(198)	(153)	(97)	(39)	(101)
Proceeds from issuance of long-term debt	1,475)	994)	—)	34)	5,837)
Repayment of long-term debt	(955)	(1,578)	(1,650)	(2,076)	(4,975)
Net increase (decrease) in short-term borrowings	(115)	2)	37)	(105)	156)
Repayment of finance lease-related obligations	—)	—)	—)	—)	(188)
Free cash flow to equity (FCFE)	4,395)	3,456)	(195)	850)	2,254)

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).

Download chart

Item	Description	The company
FCFE	Free cash flow to equity is the cash flow available to Schlumberger Ltd. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	Schlumberger Ltd. FCFE increased from 2022 to 2023 and from 2023 to 2024.

Schlumberger Ltd., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding	1,400,850,420
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)	4,395)
FCFE per share	3.14
Current share price (P)	42.60
Valuation Ratio
P/FCFE	13.58
Benchmarks
P/FCFE, Industry
Energy	14.44

Based on: 10-K (reporting date: 2024-12-31).

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Schlumberger Ltd., historical P/FCFE calculation, comparison to benchmarks

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
No. shares of common stock outstanding¹	1,400,850,420	1,427,394,843	1,420,188,492	1,403,381,685	1,392,325,960
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)²	4,395)	3,456)	(195)	850)	2,254)
FCFE per share³	3.14	2.42	-0.14	0.61	1.62
Share price^1, 4	41.63	51.67	56.25	39.80	21.81
Valuation Ratio
P/FCFE⁵	13.27	21.34	—	65.71	13.47
Benchmarks
P/FCFE, Industry
Energy	—	13.75	10.44	21.48	19.69

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 Data adjusted for splits and stock dividends.

² See details »

³ 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 4,395,000,000 ÷ 1,400,850,420 = 3.14

⁴ Closing price as at the filing date of Schlumberger Ltd. Annual Report.

⁵ 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 41.63 ÷ 3.14 = 13.27

Download chart

Schlumberger Ltd. (NYSE:SLB)

Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)

Price to FCFE Ratio, Current

Price to FCFE Ratio, Historical