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Financial profile · Q3 FY2026

Cash-generative scale with cyclical margins and acquisition-shaped comparisons

SLB’s multiyear record shows revenue expansion and margin improvement through 2024, followed by some easing, alongside recurring positive free cash flow. The ChampionX acquisition broadened reported revenue and makes comparisons more acquisition-sensitive, without changing the underlying pattern of cash generation.

What is developing

The latest quarter showed revenue growth both sequentially and year over year, while operating income and common earnings remained below the year-earlier quarter. That combination suggests a sequential recovery without yet reversing the recent margin pressure.

What matters next

Whether revenue recovery is accompanied by sustained improvement in operating margin.

USD
Metric FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
27.8B 30.4B 32.8B 32.9B 23.6B 22.9B 28.1B 33.1B 36.3B 35.7B
(23.9B) (26.5B) (28.5B) (28.7B) (21B) (19.3B) (22.9B) (26.6B) (28.8B) (29B)
3.9B 3.9B 4.3B 4.2B 2.6B 3.7B 5.2B 6.6B 7.5B 6.7B
(1.4B) (1.2B) (1.1B) (1.2B) (945m) (893m) (1B) (1.1B) (1.1B) (1B)
(403m) (432m) (444m) (474m) (365m) (339m) (376m) (364m) (385m) (340m)
R&D
(1B) (787m) (702m) (717m) (580m) (554m) (634m) (711m) (749m) (709m)
2.5B 2.7B 3.2B 3B 1.7B 2.8B 4.2B 5.5B 6.4B 5.6B
(616m) (376m) (387m) (528m) (400m) (419m) (259m) (197m) (132m) (226m)
539m 639m 520m 644m 563m 539m 490m 503m 512m 558m
(3.8B) (3.5B) (141m) (12.9B) (12.6B) 28m 325m (20m) (565m) (1.1B)
— — — — — — 43m — — —
— — — — — — 11m — — —
(1.9B) (1.2B) 2.6B (10.4B) (11.3B) 2.4B 4.3B 5.3B 5.7B 4.3B
278m (254m) (447m) 311m 812m (446m) (779m) (1B) (1.1B) (840m)
(1.6B) (1.4B) 2.2B (10.1B) (10.5B) 1.9B 3.5B 4.3B 4.6B 3.5B
(60m) 8m (39m) (30m) (32m) (47m) (51m) (72m) (118m) (77m)
(1.7B) (1.5B) 2.1B (10.1B) (10.5B) 1.9B 3.4B 4.2B 4.5B 3.4B
(1.24) (1.08) 1.53 (7.32) (7.57) 1.32 2.39 2.91 3.11 2.35