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SLB – Support Activities for Oil and Gas Operations
schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. working in more than 85 countries and employing people who represent over 140 nationalities, schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production and integrated pore-to-pipeline solutions for hydrocarbon recovery that optimize reservoir performance. apply for a position with us at careers.slb.com
Analysis Results
Intrinsic Value $19.84
Latest Price $59.84
Relative Value 202% overvalued
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Cash Flow (Billions)
Analysis Parameters
New Ticker
Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of -7.0%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 7.6%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of -7.0%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (billion) Present value (billion)
2023 2.29 2.13
2024 2.13 1.84
2025 1.98 1.59
2026 1.84 1.37
2027 1.71 1.19
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 31.2 billion. This corresponds to a present value of 20.1 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 8.11 billion. Adding in the terminal value gives a total present value of 28.2 billion.

There are presently 1.42 billion outstanding shares, so the intrinsic value per share is 19.84.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 15,003,000,000
Current Cash 2,894,000,000
Current Liabilities 12,018,000,000
Current Debt 1,632,000,000
Non-Cash Working Capital (NCWC) 1,723,000,000
Change in NCWC 1,658,000,000
EBIT 4,315,000,000
Tax Provision 779,000,000
Depreciation and Amortization 2,147,000,000
Capital Expenditure -1,715,000,000
Unlevered Free Cash Flow 5,617,974,713
Current Assets 12,654,000,000
Current Cash 3,139,000,000
Current Liabilities 10,359,000,000
Current Debt 909,000,000
Non-Cash Working Capital (NCWC) 65,000,000
Change in NCWC -207,000,000
EBIT 2,805,000,000
Tax Provision 446,000,000
Depreciation and Amortization 2,120,000,000
Capital Expenditure -1,180,000,000
Unlevered Free Cash Flow 3,011,028,643
Current Assets 12,919,000,000
Current Cash 3,006,000,000
Current Liabilities 10,491,000,000
Current Debt 850,000,000
Non-Cash Working Capital (NCWC) 272,000,000
Change in NCWC -517,000,000
EBIT 1,747,000,000
Tax Provision -812,000,000
Depreciation and Amortization 2,566,000,000
Capital Expenditure -1,116,000,000
Unlevered Free Cash Flow 2,680,000,000
Current Assets 15,530,000,000
Current Cash 2,167,000,000
Current Liabilities 13,098,000,000
Current Debt 524,000,000
Non-Cash Working Capital (NCWC) 789,000,000
Change in NCWC -86,000,000
EBIT 3,051,000,000
Tax Provision -311,000,000
Depreciation and Amortization 3,589,000,000
Capital Expenditure -2,736,000,000
Unlevered Free Cash Flow 3,818,000,000
Current Assets 15,731,000,000
Current Cash 2,777,000,000
Current Liabilities 13,486,000,000
Current Debt 1,407,000,000
Non-Cash Working Capital (NCWC) 875,000,000
Change in NCWC -575,000,000
EBIT 3,280,000,000
Tax Provision 447,000,000
Depreciation and Amortization 3,556,000,000
Capital Expenditure -3,241,000,000
Unlevered Free Cash Flow 2,461,250,000
Current Assets 18,497,000,000
Current Cash 5,089,000,000
Current Liabilities 15,282,000,000
Current Debt 3,324,000,000
Non-Cash Working Capital (NCWC) 1,450,000,000
Change in NCWC -1,314,000,000
EBIT 2,774,000,000
Tax Provision 330,000,000
Depreciation and Amortization 3,837,000,000
Capital Expenditure -3,992,000,000
Unlevered Free Cash Flow 1,305,000,000
Current Assets 23,927,000,000
Current Cash 9,257,000,000
Current Liabilities 15,059,000,000
Current Debt 3,153,000,000
Non-Cash Working Capital (NCWC) 2,764,000,000
Change in NCWC -1,550,000,000
EBIT 2,375,000,000
Tax Provision -278,000,000
Depreciation and Amortization 4,094,000,000
Capital Expenditure -3,716,000,000
Unlevered Free Cash Flow 1,203,000,000
Current Assets 26,912,000,000
Current Cash 13,034,000,000
Current Liabilities 14,121,000,000
Current Debt 4,557,000,000
Non-Cash Working Capital (NCWC) 4,314,000,000
Change in NCWC -1,468,000,000
EBIT 5,750,000,000
Tax Provision 746,000,000
Depreciation and Amortization 4,078,000,000
Capital Expenditure -3,849,000,000
Unlevered Free Cash Flow 3,022,107,254
Current Assets 24,694,000,000
Current Cash 7,501,000,000
Current Liabilities 14,176,000,000
Current Debt 2,765,000,000
Non-Cash Working Capital (NCWC) 5,782,000,000
Change in NCWC -1,331,000,000
EBIT 9,730,000,000
Tax Provision 1,928,000,000
Depreciation and Amortization 4,094,000,000
Capital Expenditure -5,037,000,000
Unlevered Free Cash Flow 5,000,254,483
Current Assets 26,225,000,000
Current Cash 8,370,000,000
Current Liabilities 13,525,000,000
Current Debt 2,783,000,000
Non-Cash Working Capital (NCWC) 7,113,000,000
Change in NCWC -522,000,000
EBIT 8,477,000,000
Tax Provision 1,848,000,000
Depreciation and Amortization 3,666,000,000
Capital Expenditure -4,337,000,000
Unlevered Free Cash Flow 5,481,503,624
Current Assets 24,156,000,000
Current Cash 6,274,000,000
Current Liabilities 12,368,000,000
Current Debt 2,121,000,000
Non-Cash Working Capital (NCWC) 7,635,000,000
Change in NCWC 1,084,000,000
EBIT 7,662,000,000
Tax Provision 1,723,000,000
Depreciation and Amortization 3,500,000,000
Capital Expenditure -5,046,000,000
Unlevered Free Cash Flow 5,364,146,015

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