Price to FCFE (P/FCFE)
Paying user area
Try for free
SLB N.V. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Analysis of Debt
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to SLB N.V. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Free Cash Flow to Equity (FCFE)
SLB N.V., FCFE calculation
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 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).
Net cash provided by operating activities demonstrated volatility over the observed period. Initial values decreased from 2021 to 2022, followed by a substantial increase in 2023, and then stabilized with slight declines in the subsequent two years. Free cash flow to equity (FCFE) exhibited a more pronounced fluctuation. A significant shift from positive to negative values occurred between 2021 and 2022, followed by a strong recovery and peak in 2023, before declining in the following two years.
- Operating Cash Flow Trend
- Operating cash flow began at US$4,651 million in 2021, decreased to US$3,720 million in 2022, then rose considerably to US$6,637 million in 2023. This was followed by a slight decrease to US$6,602 million in 2024 and a further decrease to US$6,489 million in 2025. The 2023 value represents the highest point in the observed period.
- FCFE Trend
- FCFE was US$850 million in 2021. It experienced a substantial decline, resulting in a negative value of US$-195 million in 2022. A strong recovery was observed in 2023, with FCFE reaching US$3,456 million. This positive trend continued into 2024, reaching US$4,395 million, before decreasing to US$2,499 million in 2025. The 2024 value represents the highest FCFE observed during the period.
- Relationship between Operating Cash Flow and FCFE
- While operating cash flow and FCFE generally move in the same direction, the magnitude of change in FCFE is greater. The negative FCFE in 2022, despite positive operating cash flow, suggests significant uses of cash related to equity holders, such as debt repayment or share repurchases, that outweighed the operating cash inflows. The substantial increase in FCFE in 2023 and 2024, exceeding the increase in operating cash flow, indicates a reduction in these cash outflows or increased cash inflows directly benefiting equity holders.
The observed patterns suggest a period of financial instability in 2022, followed by a strong recovery and subsequent stabilization with a slight downward trend in the most recent year. Further investigation into the specific factors driving the fluctuations in both operating cash flow and FCFE would be necessary to fully understand the underlying dynamics.
Price to FCFE Ratio, Current
SLB N.V., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Industry | |
| Energy | |
Based on: 10-K (reporting date: 2025-12-31).
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.
Price to FCFE Ratio, Historical
SLB N.V., historical P/FCFE calculation, comparison to benchmarks
Based on: 10-K (reporting date: 2025-12-31), 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).
1 Data adjusted for splits and stock dividends.
3 2025 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of SLB N.V. Annual Report.
5 2025 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
The Price to Free Cash Flow to Equity (P/FCFE) ratio exhibits considerable fluctuation over the observed period. Initial values are high, followed by a period of negative FCFE and subsequent stabilization with moderate variation.
- Share Price
- The share price increased from US$39.80 in 2021 to US$56.25 in 2022, representing a significant gain. However, the price then decreased to US$51.67 in 2023 and further declined to US$41.63 in 2024. A partial recovery is noted in 2025, with the share price reaching US$49.15.
- Free Cash Flow to Equity per Share
- In 2021, FCFE per share was reported at US$0.61. This shifted to a negative value of -US$0.14 in 2022. A substantial positive change occurred in 2023, with FCFE per share rising to US$2.42. This level was further increased in 2024 to US$3.14, before decreasing to US$1.67 in 2025.
- Price to FCFE Ratio
- The P/FCFE ratio began at a high of 65.71 in 2021. A value for 2022 is absent, likely due to the negative FCFE per share. The ratio decreased significantly to 21.34 in 2023, and continued to decline to 13.27 in 2024. In 2025, the P/FCFE ratio increased to 29.41, reflecting the lower FCFE per share and the slightly increased share price.
The volatility in the P/FCFE ratio is directly linked to the fluctuations in FCFE per share. The negative FCFE in 2022 prevents calculation of the ratio for that year. The decreasing trend in the P/FCFE ratio from 2021 to 2024 suggests that the market valuation, relative to the cash flow available to equity holders, was decreasing. The increase in 2025 indicates a shift, but the ratio remains below the 2021 level.