Question 1

What is SLB's P/FCF ratio?

Accepted Answer

SLB (SLB) P/FCF ratio is 15.4× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for SLB?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For SLB specifically, the relevant sector benchmark is the current sector median of 22.1×.

Question 5

Is SLB's P/FCF ratio high or low?

Accepted Answer

SLB's P/FCF ratio of 15.4× is below its own 5-year average of 18.3× and below the sector median of 22.1×. That places the current reading at the 36th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is SLB's historical P/FCF ratio range?

Accepted Answer

In the available daily series, SLB (SLB) P/FCF ratio has ranged from a low of 4.7× in 2020 to a high of 150.6× in 2002. The 5-year average is 18.3× and the 5-year median is 16.5×.

Question 7

What was SLB's P/FCF ratio in 2025?

Accepted Answer

SLB (SLB) P/FCF ratio at the end of 2025 was 11.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does SLB's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$56.5B	$4.8B	11.8×	-0.7×	Dec 31, 2025
2024	$54.5B	$4.38B	12.4×	-4.1×	Dec 31, 2024
2023	$74.4B	$4.49B	16.6×	-19.9×	Dec 31, 2023
2022	$75.9B	$2.08B	36.5×	+24.4×	Dec 31, 2022
2021	$42B	$3.47B	12.1×	-5.5×	Dec 31, 2021
2020	$30.4B	$1.73B	17.6×	+1.6×	Dec 31, 2020
2019	$55.6B	$3.48B	16.0×	+1.5×	Dec 31, 2019
2018	$49.9B	$3.45B	14.5×	-14.0×	Dec 31, 2018
2017	$93.3B	$3.28B	28.5×	-4.2×	Dec 31, 2017
2016	$117B	$3.58B	32.7×	+17.2×	Dec 31, 2016
2015	$87.8B	$5.68B	15.5×	-0.3×	Dec 31, 2015
2014	$109B	$6.92B	15.8×	-5.9×	Dec 31, 2014
2013	$118B	$5.45B	21.7×	-34.4×	Dec 31, 2013
2012	$92B	$1.64B	56.0×	+13.6×	Dec 31, 2012
2011	$91.4B	$2.15B	42.5×	-1.7×	Dec 31, 2011
2010	$114B	$2.58B	44.1×	+14.7×	Dec 31, 2010
2009	$77.8B	$2.64B	29.5×	+11.6×	Dec 31, 2009
2008	$50.5B	$2.83B	17.8×	-20.5×	Dec 31, 2008
2007	$118B	$3.07B	38.3×	+6.1×	Dec 31, 2007
2006	$74.4B	$2.31B	32.2×	-8.4×	Dec 31, 2006
2005	$57.2B	$1.41B	40.6×	-17.4×	Dec 31, 2005
2004	$39.4B	$681M	57.9×	+28.2×	Dec 31, 2004
2003	$32.1B	$1.08B	29.7×	+0.9×	Dec 31, 2003
2002	$24.5B	$851M	28.7×	—	Dec 31, 2002


Phillips 66 (PSX)	615.5×
Targa Resources (TRGP)	205.8×
Williams Companies (WMB)	123.3×
Enbridge (ENB)	73.7×
Texas Pacific Land (TPL)	66.3×
Diamondback Energy (FANG)	35.1×
Enphase Energy (ENPH)	34.2×
Chevron (CVX)	30.6×
National Fuel Gas (NFG)	29.1×
Baker Hughes (BKR)	26.4×
ONEOK (OKE)	25.4×
EOG Resources (EOG)	18.9×
Energy Transfer LP (ET)	18.2×
Occidental Petroleum (OXY)	17.8×
Halliburton (HAL)	16.5×
Marathon Petroleum (MPC)	12.6×
Valero Energy (VLO)	12.4×
Devon Energy (DVN)	11.9×
ConocoPhillips (COP)	10.5×
APA (APA)	10.1×
Expand Energy (EXE)	9.2×

P/FCF Ratio for SLB (SLB) 2002-2026

P/FCF Ratio daily chart for SLB (SLB)

Historical P/FCF Ratio for SLB (SLB) from 2002 to 2025

About P/FCF Ratio at SLB (SLB)

SLB P/FCF Ratio by Year

SLB P/FCF Ratio 2025: 11.8×

SLB P/FCF Ratio 2024: 12.4×

SLB P/FCF Ratio 2023: 16.6×

SLB P/FCF Ratio 2022: 36.5×

SLB P/FCF Ratio 2021: 12.1×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

SLB (SLB) Key Financials