SLBMEDIUM SIGNALOPERATIONAL10-K

SLB completed a corporate rebranding transformation while delivering strong operational performance with 30% operating income growth, though tax impacts significantly reduced net income.

The language changes reflect SLB's full transition from Schlumberger to its new digital-focused identity, emphasizing cloud platforms and SaaS solutions across four key digital revenue streams. This operational pivot toward higher-margin digital services appears to be gaining traction given the substantial operating income improvement.

Comparing 2026-01-23 vs 2025-01-22View on EDGAR →
FINANCIAL ANALYSIS

SLB demonstrated strong operational execution with operating income surging 30% to $6.5B, while simultaneously expanding its balance sheet with total assets growing 12% to $54.9B and stockholders' equity increasing 24% to $26.1B. However, net income declined 24% to $3.4B despite higher operating performance, suggesting significant tax impacts or one-time charges that offset operational gains. The increase in inventory and current liabilities indicates business expansion, while the substantial equity growth signals retained earnings accumulation and potentially favorable asset revaluations.

FINANCIAL STATEMENT CHANGES
Operating Income
P&L
+30.2%
$5.0B$6.5B

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Net Income
P&L
-24.4%
$4.5B$3.4B

Net income declined 24.4% — review whether driven by operations, interest costs, or non-recurring items.

Stockholders Equity
Balance Sheet
+23.6%
$21.1B$26.1B

Equity base grew 23.6% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Inventory
Balance Sheet
+15%
$4.4B$5.0B

Inventory built 15% — monitor whether demand supports this build or if write-downs may follow.

Current Liabilities
Balance Sheet
+14.9%
$12.8B$14.7B

Current liabilities rose 14.9% — increased short-term obligations, watch current ratio.

Total Assets
Balance Sheet
+12.1%
$48.9B$54.9B

Asset base grew 12.1% — expansion through organic growth, acquisitions, or capital deployment.

LANGUAGE CHANGES
NEW — 2026-01-23
PRIOR — 2025-01-22
ADDED
All references in this report to Registrant, Company, SLB, we or our are to SLB N.V.
SLB is a global technology company driving energy innovation for a balanced planet.
The four Divisions are: Digital Reservoir Performance Well Construction Production Systems Digital Comprised of SLB s industry-leading digital solutions and data products that span the energy value chain from subsurface characterization through field development and hydrocarbon production to carbon management and the integration of adjacent energy systems.
Revenue is generated from four key solutions Platforms Applications, Digital Operations, Digital Exploration and Professional Services.
Platforms Applications: Includes SLB s cloud technologies such as the Delfi and Lumi platforms, along with a suite of specialized, domain-focused applications such as Petrel and Techlog offered as SaaS subscription or perpetual licenses.
These platforms and applications automate complex models to simulate the impact of reservoir development plans and aid in the planning of key operations such as drilling, completion, and production designs.
Additionally, they unlock data and utilize artificial intelligence ( AI ) and machine learning to reduce cycle time and improve efficiency of workflows to allow customers to make better, faster decisions to improve their project economics and reservoir performance.
Digital Operations: Combines the strengths of SLB s oilfield services with advanced digital technologies to deliver more reliable, efficient, and autonomous field operations.
By integrating connected solutions with Performance Live digital service delivery centers, customers gain real-time monitoring, remote decision making and automated execution across their workflows from autonomous drilling to automated well intervention, all while reducing costs and improving project economics.
Revenue is generated from the same customer base as SLB s Core divisions of Well Construction, Reservoir Performance, and Production Systems.
REMOVED
All references in this report to Registrant, Company, SLB, we or our are to Schlumberger Limited (Schlumberger N.V.) and its consolidated subsidiaries.
We are SLB, a global technology company driving energy innovation for a balanced planet.
In October 2022, we changed our brand name to SLB and unveiled a new logo that underscores our vision for a decarbonized energy future.
This bold change highlighted our leadership as a global technology company focused on driving energy innovation within traditional energy sources and beyond.
The SLB brand builds on nearly a century of technology innovation and industrialization.
Our identity symbolizes SLB's commitment to moving farther and faster in facilitating the world's energy needs today and forging the road ahead for a sustainable future.
The four Divisions are: Digital Integration Reservoir Performance Well Construction Production Systems Digital Integration Co mbines SLB s industry-leading digital solutions and data products with its integrated offering of Asset Performance Solutions ( APS ).
This Division enables greater performance for our customers by reducing cycle times and risk, accelerating returns, increasing productivity, and lowering costs and carbon emissions.
The primary offerings comprising this Division are: Digital Solutions: Includes products, services, and solutions that span the energy value chain from subsurface characterization through field development and hydrocarbon production to carbon management and the integration of adjacent energy systems.
Offerings are founded upon proprietary and open-source data platform technologies, industry-leading simulators, and workflow tools, and include domain-specific application of innovative digital capabilities, such as artificial intelligence ("AI") and machine learning.
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