NYSE: SLB · Oil & Gas Equipment & Services
Slb (SLB) fair value: undervalued or overvalued?
As of 26 Sep 2026, Faircurve's model values Slb (SLB) at $51.53 a share. The stock last closed at $48.74, which puts the model's fair value 5.7% above the price. On the model's bands that reads as Fairly valued.
Revalued . Price is the close of 2 Oct 2026. Slb N.V.
Faircurve Insights · 26 Sep 2026
SLB N.V. engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems.
On 26 Sep 2026, Faircurve's model gave a fair value of $51.53 a share, which is the midpoint of 2,000 simulations. The previous run on 19 Sep 2026 gave $51.19, so the fair value moved +0.7%. The model's calibrated range over 63 trading days is $44.20 to $57.83, built around the price from the volatility the stock's own options imply, calibrated weekly against realised prices (3,330 past valuations, refreshed 26 Sep 2026). Ranges built this way held the price 60% of the time at this horizon. The model's evidence grade is Medium.
The company's overall quality score is 56 out of 100 against comparable companies. Its quality factors include Profitability at 39, Earnings quality at 88, Growth quality at 40, Capital discipline at 48, Balance sheet at 48, and Stability at 97. Faircurve's model compares it with Baker Hughes Company, TechnipFMC plc, Halliburton Company, NOV Inc., Weatherford International plc, Kodiak Gas Services, Inc., Archrock, Inc., and Oceaneering International, Inc. Moves around the last 8 earnings reports include +9.1% on 24 Jul 2026 and -3.5% on 18 Oct 2024. The median size, ignoring direction, was 2.8%.
Written from the figures on this page for the 26 Sep 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give SLB?
The calibrated range for SLB over 63 trading days is $44.20 to $57.83. It sits around the last close, and its width comes from the volatility that SLB's own options imply (38% a year), calibrated weekly against realised prices (n = 3,330 past valuations, refreshed 26 Sep 2026). Ranges built this way held the price 60% of the time at this horizon. The fair value is the model's opinion and rides beside the range. It is not the centre of it.
The model's own simulated range, from the 20th to the 80th percentile of its runs, is $38.63 to $67.96. In 50% of the simulations the fair value came out above the price the model ran on.
How does SLB score on business quality?
Slb's overall quality score is 56 out of 100. Each factor below is a score against comparable companies, not a percentile of the metric beside it.
| Factor | Score (0 to 100) | Headline measure | Peer median |
|---|---|---|---|
| ProfitabilityReturn on invested capital against the peer group, with a bonus for an improving trend. | 39 | 10.6%ROIC | 19.3% |
| Earnings qualityHow much of reported profit is cash: free cash flow to net income, and the accrual ratio (the share of earnings that is not cash). | 88 | 1.48xFCF / net income | 1.17x |
| Growth qualityTrailing revenue growth, forward growth from consensus, and the direction of analyst estimate revisions. | 40 | -1.6%Revenue growth, trailing | -1.8% |
| Capital disciplineReinvestment efficiency (capital spending per unit of revenue) and net buybacks. | 48 | 1.4%Net buybacks / market value | 2.5% |
| Balance sheetNet debt to EBITDA and interest coverage. | 48 | 1.41xNet debt / EBITDA | 0.77x |
| StabilityDownside volatility of the EBITDA margin over the last five years. | 97 | 1.0 ptsEBITDA margin downside volatility, 5y | 2.7 pts |
How does SLB compare with similar companies?
The companies in oil & gas equipment & services closest to Slb in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| BKR Baker Hughes Company | $56.00 | $56.75 | +1.3% | Fairly valued |
| FTI TechnipFMC plc | $68.82 | $67.63 | -1.7% | Fairly valued |
| HAL Halliburton Company | $31.85 | $35.18 | +10.5% | Fairly valued |
| NOV NOV Inc. | $18.80 | $18.98 | +1.0% | Fairly valued |
| WFRD Weatherford International plc | $79.72 | $104.42 | +31.0% | Undervalued |
| KGS Kodiak Gas Services, Inc. | $54.33 | $54.08 | -0.5% | Fairly valued |
| AROC Archrock, Inc. | $30.33 | $28.27 | -6.8% | Fairly valued |
| OII Oceaneering International, Inc. | $44.32 | $41.77 | -5.8% | Fairly valued |
All oil & gas equipment & services stocks ranked by gap to fair value
When does SLB report earnings, and how has the stock reacted?
Slb's next earnings report is scheduled for 16 Oct 2026. Companies can move their dates.
Options prices on 2 Oct 2026 imply a move of about 5.2% in either direction through the nearest expiry, about 13 days out. That is the size the market is pricing, not a direction. SLB's 30 day implied volatility works out to about 10.9% over one month.
How SLB moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 2.8%.
| Report date | Two session move |
|---|---|
| 24 Jul 2026 | +9.1% |
| 24 Apr 2026 | +0.9% |
| 23 Jan 2026 | +0.8% |
| 17 Oct 2025 | +1.5% |
| 18 Jul 2025 | -3.3% |
| 25 Apr 2025 | -2.4% |
| 17 Jan 2025 | +6.4% |
| 18 Oct 2024 | -3.5% |
Slb at a glance
SLB N.V. engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems.
- Market value
- $76.5B
- Sector
- Energy
- Industry
- Oil & Gas Equipment & Services
- Revenue expected, next twelve months
- $39.1B
- Consensus revenue growth, next fiscal year
- +3.6%
- Analysts with estimates
- 16
- Beta to the US market
- 0.83
- First valued by Faircurve
- 1 May 2026
How the fair value is worked out: the model prices Slb on the value of the whole business, debt included, against the operating profit analysts expect next year (forward EV/EBITDA), runs 2,000 simulations across its inputs and takes the midpoint. The full method is documented here.
What changed in the latest valuation?
On 19 Sep 2026 the model's fair value for SLB was $51.19. As of 26 Sep 2026 it is $51.53, a change of +0.7%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Slb's valuation
Is Slb stock undervalued or overvalued?
On Faircurve's model, SLB reads as Fairly valued as of 26 Sep 2026. The model's fair value is $51.53 a share against a last close of $48.74, a gap of +5.7%.
What is SLB's fair value?
$51.53 a share as of 26 Sep 2026, the midpoint of 2,000 simulations. The model's own 20th to 80th percentile range is $38.63 to $67.96.
What price range does the model give SLB?
$44.20 to $57.83 over 63 trading days. Ranges built this way held the price 60% of the time across 3,330 past valuations, refreshed 26 Sep 2026.
When does Slb report earnings next?
The next report is scheduled for 16 Oct 2026. Companies can move their dates.
How much has SLB moved on past earnings reports?
Across its last 8 reports the median two session move was 2.8%, ignoring direction. The largest was +9.1% around the report of 24 Jul 2026.
How confident is the model in this valuation?
The model's evidence grade for SLB is medium. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It is not a probability that the fair value is right, or that the price reaches it.