Schlumberger (SLB)

Q: What's priced into Schlumberger (SLB) stock?

The market seems to have priced in a neutral valuation, reflecting a slight expectation gap. SLB is viewed as cheap compared to its peers, but the fragility in earnings quality suggests that the market is cautious about its execution.

Q: What does the Schlumberger (SLB) outlook hinge on?

The long-term thesis hinges on inflation trends, guidance from management, and performance of sector peers. If inflation reaccelerates or if sector bellwethers continue to perform well, SLB could benefit.

NYSEEnergyOil & Gas Equipment & ServicesSnapshot 2026-10-15

$49.50+2.34%

Close 2026-10-16 · 1-day change

Read the published Living FV report summary

Investment OutlookAs of Oct 15, 2026

What could strengthen or challenge Schlumberger’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

+0.1%

+10% or more+5%0%−5%−10% or less

3.19 → 3.19 EPS · FY ending Dec 31, 2027 · 16 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 15, 2026 to Oct 15, 2026: (new ÷ prior − 1). Contributor count changed from 17 to 16; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Living FV™

Living Fair Value by QuarterlyIQ

A valuation that evolves as the business changes.

A published Living FV snapshot is not available yet. The valuation workflow remains discoverable; a market target cannot supply the missing evidence.

View Living FV report and workflow

What the Thesis Depends On

4 key conditions need to be met for the investment thesis to play out.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Share buyback of ~$4 billion	It announced a $4 billion buyback and maintains solid free cash flow yield near 7%.	Intact	Buyback is canceled or materially reduced	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Non-GAAP EPS near $2.57 for FY26	A primary condition in Schlumberger's published investment case. The stated target is EPS >= $2.57 FY26.	Under Pressure	EPS falls below $2.0 in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue growth at or above 6% YoY	A primary condition in Schlumberger's published investment case. The stated target is >=6% YoY.	Under Pressure	YoY revenue growth falls below 3% next year	Revenue growth: 4.98% FY2026-Q2; GAAP. Published target: >=6% YoY. Target period is not explicitly aligned with this observation. Source published Jul 29, 20264.984788 percent · calculatedSource reportLast status assessment Oct 15, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 5308436c-342a-4376-b31f-dec7ab6c03c1. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
PE ratio below 20	A supporting condition in Schlumberger's published investment case. The stated target is PE < 20.	Intact	PE rises above 25 without earnings growth	P/E (TTM): 19.04x As of 2026-10-15; trailing twelve months. The target timing and basis require a separate assessment. Market data as of Oct 15, 202619.0433 ratio · calculatedLast status assessment Oct 15, 2026 Measurement source consolidated · TTM valuation Period ending Oct 15, 2026 Source: mart.stock_valuation_daily. Reference: SLB:2026-10-15. Source status: canonical calculation. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$3.19

$3.29 → $3.19 · observed estimates

FY2027 revenue$40.04B

$39.31B → $40.04B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$3.29	$39,308,198,466	17 / 19
2026-07-25	$3.29	$39,381,158,790	27 / 25
2026-07-26	$3.29	$39,381,158,790	27 / 25
2026-07-27	$3.28	$39,533,712,270	27 / 25
2026-07-28	$3.26	$39,593,645,653	17 / 19
2026-07-29	$3.26	$39,815,423,560	26 / 25
2026-07-30	$3.26	$39,815,423,560	26 / 25
2026-07-31	$3.27	$39,875,779,560	26 / 25
2026-08-01	$3.24	$39,852,123,276	17 / 19
2026-08-02	$3.24	$39,852,123,276	17 / 19
2026-08-03	$3.24	$39,852,123,276	17 / 19
2026-08-04	$3.24	$39,852,123,276	17 / 19
2026-08-05	$3.24	$39,852,123,276	17 / 19
2026-08-06	$3.24	$39,852,123,276	17 / 19
2026-08-08	$3.24	$39,852,123,276	17 / 19
2026-08-09	$3.25	$39,767,251,230	26 / 25
2026-08-10	$3.24	$39,852,123,276	17 / 19
2026-08-12	$3.24	$39,852,123,276	17 / 19
2026-08-13	$3.24	$39,852,123,276	17 / 19
2026-08-14	$3.24	$39,852,123,276	17 / 19
2026-08-15	$3.24	$39,852,123,276	17 / 19
2026-08-16	$3.24	$39,852,123,276	17 / 19
2026-08-17	$3.24	$39,852,123,276	17 / 19
2026-08-18	$3.24	$39,852,123,276	17 / 19
2026-08-19	$3.24	$39,852,123,276	17 / 19
2026-08-20	$3.20	$39,773,519,116	17 / 19
2026-08-21	$3.20	$39,777,984,088	17 / 19
2026-08-22	$3.20	$39,777,984,088	17 / 19
2026-08-23	$3.20	$39,777,984,088	17 / 19
2026-08-24	$3.20	$39,777,984,088	17 / 19
2026-08-25	$3.20	$39,777,984,088	17 / 19
2026-08-26	$3.20	$39,777,984,088	17 / 19
2026-08-27	$3.20	$39,777,984,088	17 / 19
2026-08-28	$3.20	$39,777,984,088	17 / 19
2026-08-29	$3.18	$39,719,227,246	17 / 19
2026-08-30	$3.18	$39,719,227,246	17 / 19
2026-08-31	$3.18	$39,719,227,246	17 / 19
2026-09-01	$3.18	$39,719,227,246	17 / 19
2026-09-02	$3.18	$39,804,667,246	17 / 19
2026-09-03	$3.18	$39,804,667,246	17 / 19
2026-09-04	$3.18	$39,804,667,246	17 / 19
2026-09-05	$3.18	$39,804,667,246	17 / 19
2026-09-06	$3.18	$39,804,667,246	17 / 19
2026-09-07	$3.18	$39,804,667,246	17 / 19
2026-09-08	$3.18	$39,804,667,246	17 / 19
2026-09-09	$3.19	$39,892,452,214	17 / 19
2026-09-10	$3.19	$39,892,452,214	17 / 19
2026-09-11	$3.19	$39,892,452,214	17 / 19
2026-09-12	$3.19	$39,892,452,214	17 / 19
2026-09-13	$3.19	$39,892,452,214	17 / 19
2026-09-14	$3.19	$39,892,452,214	17 / 19
2026-09-15	$3.19	$39,892,452,214	17 / 19
2026-09-16	$3.19	$39,892,452,214	17 / 19
2026-09-17	$3.19	$39,892,452,214	17 / 19
2026-09-18	$3.19	$39,892,452,214	17 / 19
2026-09-19	$3.19	$39,892,452,214	17 / 19
2026-09-20	$3.19	$39,892,452,214	17 / 19
2026-09-21	$3.19	$39,892,452,214	17 / 19
2026-09-22	$3.19	$39,892,452,214	17 / 19
2026-09-23	$3.19	$39,892,452,214	17 / 19
2026-09-24	$3.19	$39,892,452,214	17 / 19
2026-09-25	$3.19	$39,892,452,214	17 / 19
2026-09-26	$3.21	$40,024,591,576	17 / 19
2026-09-27	$3.21	$40,024,591,576	17 / 19
2026-09-28	$3.21	$40,024,591,576	17 / 19
2026-09-29	$3.21	$40,024,591,576	17 / 19
2026-09-30	$3.21	$40,024,591,576	17 / 19
2026-10-01	$3.20	$40,023,645,378	17 / 19
2026-10-02	$3.20	$40,025,772,094	17 / 19
2026-10-03	$3.20	$40,025,772,094	17 / 19
2026-10-04	$3.20	$40,013,850,893	16 / 19
2026-10-05	$3.20	$40,013,850,893	16 / 19
2026-10-06	$3.20	$40,035,695,971	16 / 19
2026-10-07	$3.20	$40,035,695,971	16 / 19
2026-10-08	$3.19	$39,990,673,086	16 / 19
2026-10-09	$3.19	$39,990,673,086	16 / 19
2026-10-10	$3.19	$39,990,673,086	16 / 19
2026-10-11	$3.19	$39,990,673,086	16 / 19
2026-10-12	$3.19	$39,990,673,086	16 / 19
2026-10-13	$3.19	$39,990,673,086	16 / 19
2026-10-14	$3.19	$39,990,673,086	16 / 19
2026-10-15	$3.19	$40,038,343,193	16 / 19

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	25	2	2
2026-06-01	25	2	2
2026-07-01	26	2	2
2026-08-01	26	2	2
2026-09-01	26	2	2
2026-10-01	26	2	2

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 26 Buy / Strong Buy · 2 Hold · 2 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 16–Oct 15 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 16, 2026–Oct 15, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Share buyback of ~$4 billionDirect metric needs a verified mapping
Non-GAAP EPS near $2.57 for FY26Published status: Under Pressure
Revenue growth at or above 6% YoYPublished status: Under Pressure
PE ratio below 20P/E (TTM): 19.04x

Next proof point

Oct 23, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.1%Typical daily move · historical

Downside history

-22.3%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Schlumberger outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 10, 2026

What kind of bet this is

This investment represents a stable compounder with a focus on returning capital to shareholders and expanding its digital services. The current thesis state is mixed, with recent performance being neutral but showing some favorable signs.

What's priced into Schlumberger

The market seems to have priced in a neutral valuation, reflecting a slight expectation gap. SLB is viewed as cheap compared to its peers, but the fragility in earnings quality suggests that the market is cautious about its execution.

What the fundamentals likely do

Management is focused on returning over $4 billion to shareholders and expanding its digital and data center solutions. Recent financial performance has been neutral, with a low probability of missing guidance, but the company operates in a high-miss-rate industry.

What Schlumberger hinges on

The long-term thesis hinges on inflation trends, guidance from management, and performance of sector peers. If inflation reaccelerates or if sector bellwethers continue to perform well, SLB could benefit.

Bottom line

Overall, SLB's trajectory appears stable but requires close monitoring of external factors and management execution. Not investment advice.

Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$3.19

$3.29 → $3.19 · observed estimates

FY2027 revenue$40.04B

$39.31B → $40.04B · observed estimates

Exact estimates & source dates

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$3.29	$39,308,198,466	17 / 19
2026-07-25	$3.29	$39,381,158,790	27 / 25
2026-07-26	$3.29	$39,381,158,790	27 / 25
2026-07-27	$3.28	$39,533,712,270	27 / 25
2026-07-28	$3.26	$39,593,645,653	17 / 19
2026-07-29	$3.26	$39,815,423,560	26 / 25
2026-07-30	$3.26	$39,815,423,560	26 / 25
2026-07-31	$3.27	$39,875,779,560	26 / 25
2026-08-01	$3.24	$39,852,123,276	17 / 19
2026-08-02	$3.24	$39,852,123,276	17 / 19
2026-08-03	$3.24	$39,852,123,276	17 / 19
2026-08-04	$3.24	$39,852,123,276	17 / 19
2026-08-05	$3.24	$39,852,123,276	17 / 19
2026-08-06	$3.24	$39,852,123,276	17 / 19
2026-08-08	$3.24	$39,852,123,276	17 / 19
2026-08-09	$3.25	$39,767,251,230	26 / 25
2026-08-10	$3.24	$39,852,123,276	17 / 19
2026-08-12	$3.24	$39,852,123,276	17 / 19
2026-08-13	$3.24	$39,852,123,276	17 / 19
2026-08-14	$3.24	$39,852,123,276	17 / 19
2026-08-15	$3.24	$39,852,123,276	17 / 19
2026-08-16	$3.24	$39,852,123,276	17 / 19
2026-08-17	$3.24	$39,852,123,276	17 / 19
2026-08-18	$3.24	$39,852,123,276	17 / 19
2026-08-19	$3.24	$39,852,123,276	17 / 19
2026-08-20	$3.20	$39,773,519,116	17 / 19
2026-08-21	$3.20	$39,777,984,088	17 / 19
2026-08-22	$3.20	$39,777,984,088	17 / 19
2026-08-23	$3.20	$39,777,984,088	17 / 19
2026-08-24	$3.20	$39,777,984,088	17 / 19
2026-08-25	$3.20	$39,777,984,088	17 / 19
2026-08-26	$3.20	$39,777,984,088	17 / 19
2026-08-27	$3.20	$39,777,984,088	17 / 19
2026-08-28	$3.20	$39,777,984,088	17 / 19
2026-08-29	$3.18	$39,719,227,246	17 / 19
2026-08-30	$3.18	$39,719,227,246	17 / 19
2026-08-31	$3.18	$39,719,227,246	17 / 19
2026-09-01	$3.18	$39,719,227,246	17 / 19
2026-09-02	$3.18	$39,804,667,246	17 / 19
2026-09-03	$3.18	$39,804,667,246	17 / 19
2026-09-04	$3.18	$39,804,667,246	17 / 19
2026-09-05	$3.18	$39,804,667,246	17 / 19
2026-09-06	$3.18	$39,804,667,246	17 / 19
2026-09-07	$3.18	$39,804,667,246	17 / 19
2026-09-08	$3.18	$39,804,667,246	17 / 19
2026-09-09	$3.19	$39,892,452,214	17 / 19
2026-09-10	$3.19	$39,892,452,214	17 / 19
2026-09-11	$3.19	$39,892,452,214	17 / 19
2026-09-12	$3.19	$39,892,452,214	17 / 19
2026-09-13	$3.19	$39,892,452,214	17 / 19
2026-09-14	$3.19	$39,892,452,214	17 / 19
2026-09-15	$3.19	$39,892,452,214	17 / 19
2026-09-16	$3.19	$39,892,452,214	17 / 19
2026-09-17	$3.19	$39,892,452,214	17 / 19
2026-09-18	$3.19	$39,892,452,214	17 / 19
2026-09-19	$3.19	$39,892,452,214	17 / 19
2026-09-20	$3.19	$39,892,452,214	17 / 19
2026-09-21	$3.19	$39,892,452,214	17 / 19
2026-09-22	$3.19	$39,892,452,214	17 / 19
2026-09-23	$3.19	$39,892,452,214	17 / 19
2026-09-24	$3.19	$39,892,452,214	17 / 19
2026-09-25	$3.19	$39,892,452,214	17 / 19
2026-09-26	$3.21	$40,024,591,576	17 / 19
2026-09-27	$3.21	$40,024,591,576	17 / 19
2026-09-28	$3.21	$40,024,591,576	17 / 19
2026-09-29	$3.21	$40,024,591,576	17 / 19
2026-09-30	$3.21	$40,024,591,576	17 / 19
2026-10-01	$3.20	$40,023,645,378	17 / 19
2026-10-02	$3.20	$40,025,772,094	17 / 19
2026-10-03	$3.20	$40,025,772,094	17 / 19
2026-10-04	$3.20	$40,013,850,893	16 / 19
2026-10-05	$3.20	$40,013,850,893	16 / 19
2026-10-06	$3.20	$40,035,695,971	16 / 19
2026-10-07	$3.20	$40,035,695,971	16 / 19
2026-10-08	$3.19	$39,990,673,086	16 / 19
2026-10-09	$3.19	$39,990,673,086	16 / 19
2026-10-10	$3.19	$39,990,673,086	16 / 19
2026-10-11	$3.19	$39,990,673,086	16 / 19
2026-10-12	$3.19	$39,990,673,086	16 / 19
2026-10-13	$3.19	$39,990,673,086	16 / 19
2026-10-14	$3.19	$39,990,673,086	16 / 19
2026-10-15	$3.19	$40,038,343,193	16 / 19

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings