How Does SLB Make its Money?
SLB (formerly Schlumberger) is the world’s largest oilfield services company, providing technology and services to the global energy industry. The company offers a comprehensive range of products and services from exploration through production — including drilling, reservoir characterization, well construction, production optimization, and digital solutions. SLB operates in over 100 countries and has been repositioning itself as an energy technology company, investing in digital platforms, decarbonization solutions, and new energy technologies alongside its core oilfield services business.
SLB (SLB) Business Model
SLB operates in the oil & gas services sector. Below is a summary of SLB’s revenue streams, how the company generates income, and the key financial metrics from its most recent annual report. This breakdown uses data from SLB’s 2024 fiscal year filings with the SEC.
SLB Competitors
SLB’s key competitors and comparable public companies in the oil & gas services sector include ExxonMobil, Chevron, and ConocoPhillips. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how SLB stacks up by comparing their revenue breakdown, margins, and growth metrics.
SLB Competitors
SLB’s key competitors and comparable public companies in the oil & gas services sector include ExxonMobil, Chevron, and ConocoPhillips. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how SLB stacks up by comparing their revenue breakdown, margins, and growth metrics.
SLB Competitors
SLB’s key competitors and comparable public companies in the oil & gas services sector include ExxonMobil, Chevron, and ConocoPhillips. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how SLB stacks up by comparing their revenue breakdown, margins, and growth metrics.
SLB Competitors
SLB’s key competitors and comparable public companies in the oil & gas services sector include ExxonMobil, Chevron, and ConocoPhillips. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how SLB stacks up by comparing their revenue breakdown, margins, and growth metrics.
SLB Competitors
SLB’s key competitors and comparable public companies in the oil & gas services sector include ExxonMobil, Chevron, and ConocoPhillips. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how SLB stacks up by comparing their revenue breakdown, margins, and growth metrics.
Revenue Breakdown
| Segment | 2024 | 2023 | YoY Growth |
|---|---|---|---|
| Digital & Integration | $4,200 | $3,900 | +7.7% |
| Reservoir Performance | $7,800 | $7,200 | +8.3% |
| Well Construction | $14,200 | $13,500 | +5.2% |
| Production Systems | $10,600 | $9,700 | +9.3% |
| Total Revenue | $36,300 | $33,100 | +9.7% |
Digital & Integration — 12% of Revenue
Reservoir Performance — 21% of Revenue
Well Construction — 39% of Revenue
Production Systems — 29% of Revenue
Income Statement Overview
| Metric | 2024 | 2023 |
|---|---|---|
| Total Revenue | $36,300 | $33,100 |
| Cost of Revenue | $28,500 | $26,400 |
| Gross Profit | $7,800 | $6,700 |
| Operating Expenses | $1,900 | $1,800 |
| Operating Income | $5,900 | $4,900 |
| Net Income | $4,500 | $4,200 |
All values in millions USD unless otherwise stated.
Key Financial Metrics
- Gross Margin: 21.5%
- Operating Margin: 16.3%
- Revenue Growth: 9.7%
Is SLB Profitable?
Yes, SLB is profitable. The company reported net income of $4,500 on total revenue of $36,300. With an operating margin of 16.3%, SLB demonstrates solid profitability for the oil & gas services sector. The gross margin of 21.5% reflects SLB’s pricing power and cost structure.
What to Watch
- International and offshore drilling activity growth as the core revenue driver
- Digital platform adoption and Delfi cloud-based E&P software
- New energy investments in carbon capture, geothermal, and hydrogen
- Margin expansion from technology differentiation and pricing power
SLB (SLB) Financial Summary
SLB (SLB) is an oil & gas services company that generated $36,300 in total revenue in fiscal year 2024. Revenue grew 9.7% year-over-year. The company earned $4,500 in net income, making it profitable. For a deeper look at SLB’s revenue breakdown, business segments, and financial performance, review the detailed analysis above.