NOV vs Schlumberger
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The short version
- Schlumberger is the larger business, with $35.7B of revenue in fiscal 2025 against $8.7B for NOV, about 4.1 times as much.
- Schlumberger turned more of its sales into free cash flow (13.4% FCF margin, against 10.0%).
- Schlumberger earned a higher return on the capital invested in it (12.7%, against 3.5%).
- Investors pay more for each dollar of NOV’s earnings: a P/E of 79.0x against 25.6x for Schlumberger.
| Latest fiscal year | NOV · FY25 | SLB · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.2B | $79.9B |
| Revenue | $8.7B | $35.7B |
| Free cash flow | $876M | $4.8B |
| Net income | $145M | $3.4B |
| Growth | ||
| Revenue growth | −1.4% | −1.6% |
| 5-year growth | 7.5% | 8.6% |
| Share count change | −5.3% | 0.1% |
| Profitability | ||
| Gross margin | 20.2% | — |
| Operating margin | 5.7% | — |
| Net margin | 1.7% | 9.5% |
| FCF margin | 10.0% | 13.4% |
| Return on capital | 3.5% | 12.7% |
| Return on equity | 2.3% | 14.3% |
| Balance sheet | ||
| Net debt | $428M | $5.5B |
| Net debt / EBITDA | 0.5x | 0.7x |
| Dividends and buybacks | $505M | $4.0B |
| Valuation & quality | ||
| P/E | 79.0x | 25.6x |
| Piotroski F-score | 5 | 4 |
FY16
NOV $7.3B
SLB $27.8B
FY17
NOV $7.3B
SLB $30.4B
FY18
NOV $8.5B
SLB $32.8B
FY19
NOV $8.5B
SLB $32.9B
FY20
NOV $6.1B
SLB $23.6B
FY21
NOV $5.5B
SLB $22.9B
FY22
NOV $7.2B
SLB $28.1B
FY23
NOV $8.6B
SLB $33.1B
FY24
NOV $8.9B
SLB $36.3B
FY25
NOV $8.7B
SLB $35.7B
NOV
SLB
FY16
NOV −33.3%
SLB 11.8%
FY17
NOV −3.8%
SLB 12.9%
FY18
NOV 2.5%
SLB 12.8%
FY19
NOV −74.1%
SLB 12.1%
FY20
NOV −39.8%
SLB 10.2%
FY21
NOV −2.4%
SLB 14.7%
FY22
NOV 3.7%
SLB 17.8%
FY23
NOV 7.6%
SLB 19.7%
FY24
NOV 9.9%
SLB —
FY25
NOV 5.7%
SLB —
NOV
SLB
FY16
NOV $676M
SLB $4.2B
FY17
NOV $640M
SLB $3.6B
FY18
NOV $277M
SLB $3.6B
FY19
NOV $481M
SLB $3.7B
FY20
NOV $700M
SLB $1.8B
FY21
NOV $90.0M
SLB $3.5B
FY22
NOV −$393M
SLB $2.1B
FY23
NOV −$140M
SLB $4.7B
FY24
NOV $953M
SLB $4.7B
FY25
NOV $876M
SLB $4.8B
NOV
SLB
FY16
NOV −11.2%
SLB 5.5%
FY17
NOV −1.4%
SLB —
FY18
NOV 0.7%
SLB —
FY19
NOV −40.8%
SLB 7.4%
FY20
NOV −26.2%
SLB 6.1%
FY21
NOV −1.9%
SLB 10.7%
FY22
NOV 3.0%
SLB 16.0%
FY23
NOV 9.7%
SLB 19.6%
FY24
NOV 9.2%
SLB 17.5%
FY25
NOV 3.5%
SLB 12.7%
NOV
SLB
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.