SLB Limited (SLB) stock — is it a good business?

SLB Limited (SLB) stock — is it a good business? — InspectStocks

Just reported

Q3 2026 results

From SLB's results release of October 23, 2026; its quarterly report has since been filed.

Revenue
Actual
$9.45B
+5.8% y/y
+5.3% q/q
Guided
—
No guide given
EPS, GAAP
Actual
$0.49
-2.0% y/y
-5.8% q/q
Guided
—
No guide given

Set against the company's own guidance and the same quarter a year earlier, not analysts' estimates, which we do not hold. Adjusted figures are the company's own non-GAAP measures, as stated in the release.

The full earnings report →

How it makes money

Production Systems42%
Well Construction31%
Reservoir Performance17%
Digital8%
All Other6%

Shares of revenue are estimates for Q2 2026, not figures from a filing.

Competes with

What it sells6

Delfi and Lumi
Cloud software used by energy companies to plan and manage work across their operations.
Petrel and Techlog
Software used to interpret underground geology and plan wells and reservoir development.
Exploration data library
Licensed underground survey data that helps customers assess oil and gas prospects and plan carbon storage.

Show 3 more

Drilling tools and services
Drill bits, drilling fluids, measurement tools, and related services used to construct wells.
Production and artificial lift equipment
Pumps, wellhead equipment, valves, and other systems that help produce and move oil and gas.
Data center infrastructure
Modular enclosures, cooling equipment, and other hardware built for large data centers.

Who buys it4

National oil companies that hire SLB for drilling, production, and well services.
Large integrated oil companies that buy equipment and services across exploration, drilling, and production.
Independent oil and gas operators that contract for specific tools, services, or well projects.
Hyperscalers and other large data center operators that buy modular data center equipment and related design or integration work.

What it stands on, and what could break it

What the business leans on

1Demand for many services and products depends on oil and gas companies’ spending on exploration, drilling, and production.
2Operations depend on access to people, equipment, materials, and transport across many countries, including regions affected by conflict or security restrictions.
3Delivery of complex oilfield and data center projects depends on skilled employees and suppliers providing specialized components.

What could go wrong

1Conflict, political changes, and security restrictions in countries where SLB works can interrupt operations and reduce customer activity, including in the Middle East.
2SLB may not achieve the expected benefits of integrating ChampionX, which it acquired in 2025.
3Energy transition policies, emissions limits, or changing customer demand could reduce purchases of oilfield products and services; well incidents can also expose SLB to substantial liability.

Full financial statements →

About SLB Limited

SLB provides services and equipment for finding oil and gas underground, drilling wells, and producing oil and gas from them. It also sells software and underground survey data, and builds modular equipment for data centers. Its customers include oil and gas companies, as well as data center operators and large technology companies.

Head office: Executive offices in Paris, France; Houston, Texas; and The Hague, Netherlands
Founded: 1926 (high confidence)
Employees: Approximately 109,000 (December 31, 2025, medium)
Listed on: NYSE
Financial year ends: December 31

Built from SLB Limited’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Just reported

Q3 2026 results

From SLB's results release of October 23, 2026; its quarterly report has since been filed.

Revenue
Actual
$9.45B
+5.8% y/y
+5.3% q/q
Guided
—
No guide given
EPS, GAAP
Actual
$0.49
-2.0% y/y
-5.8% q/q
Guided
—
No guide given

The full earnings report →

Keep exploring

The themes SLB is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.

The theme it is part of

Highest-graded in Oil Gas Equipment and Services

Graded A or B and worth $2B or more: A first, then the largest.

All 46 graded companies in its industry

Grade rose recently in Energy

Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.

All grade rises