A Look at SLB (NYSE:SLB) Valuation Following Rebrand and New Tech-Focused Board Appointment

SLB (NYSE:SLB) has drawn attention after changing its legal name from Schlumberger N.V. to SLB N.V. and appointing Mamatha Chamarthi to the board. These moves highlight a strategy that is evolving in terms of identity and leadership.

See our latest analysis for SLB.

Despite landing a new ultra-deepwater contract in Brazil and refreshing its governance with a tech-focused board appointment, SLB’s momentum has slowed. The stock’s 1-year total shareholder return has dipped by nearly 27%, while the share price lost over 17% year-to-date. Both short-term and long-term performance paint a mixed picture, but recent moves hint the company is positioning for the next phase of growth, even as near-term sentiment remains cautious.

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With SLB’s shares lagging behind both recent highs and analyst targets, the big question for investors is whether the current market weakness is actually opening a window to buy in ahead of a turnaround, or if expectations for future growth are already reflected in today’s price.

Most Popular Narrative: 31.1% Undervalued

SLB’s closing price sits well below the consensus fair value from analysts, suggesting a significant upside if current trends and forecasts play out. This sets up a dramatic narrative where future growth could surprise many in the market.

The integration of ChampionX expands SLB's capabilities in production optimization, chemicals, and digital production technology. This unlocks new revenue synergies through cross-selling and international expansion, while also driving significant cost synergies ($400 million targeted). All of these factors are expected to increase EBITDA margins and earnings per share, notably in 2026 and beyond.

Read the complete narrative.

Curious what’s fueling this big gap between SLB’s market price and the fair value analysts project? The key drivers hinge on ambitious expectations around operational synergies and a major boost to profit margins; details you won’t want to miss. The full narrative spills the numbers and the story behind them.

Result: Fair Value of $46.02 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, persistent commodity headwinds and a possible slowdown in global upstream spending could still present challenges for SLB’s growth story and analyst optimism.

Find out about the key risks to this SLB narrative.

Build Your Own SLB Narrative

If you see the story unfolding differently or want to dive into your own research, creating your own analysis can be done in just minutes. Do it your way

A great starting point for your SLB research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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