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SLB Limited cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$1.0B in Q3 2026 · $4.6B over twelve months

Operating cash flow$1.5B
Capital spending−$485M
Free cash flow+$1.0B
Cash / net income1.9×

Analysis

In Q3 2026, SLB Limited generated $1.5B of operating cash flow and spent $485M on capital projects, leaving free cash flow of $1.0B. That is $248M less than in Q3 2025 ($1.3B).

Over the twelve months to Sep 30, 2026, operating cash flow was $6.4B; the largest uses were capital spending ($1.8B), buybacks ($1.8B), dividends ($1.7B); besides operations, cash came from other financing ($1.3B), shares issued ($119M); the cash balance fell by $393M.

Operating cash flow was $1.5B against net income of $780M — 1.9× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$698M, payables +$598M, receivables −$575M.

Free cash flow

SLB Limited: free cash flow by quarterSLB Limited: free cash flow by quarter$1.8BQ4 2024$262MQ1 2025$771MQ2 2025$1.3BQ3 2025$2.5BQ4 2025$144MQ1 2026$900MQ2 2026$1.0BQ3 2026
Operating cash flow less capital spending.
SLB Limited: operating cash flow against capital spendingSLB Limited: operating cash flow against capital spendingOperating cash flowCapital spending$2.4B$609MQ4 2024$660M$398MQ1 2025$1.1B$371MQ2 2025$1.7B$409MQ3 2025$3.0B$516MQ4 2025$487M$343MQ1 2026$1.4B$459MQ2 2026$1.5B$485MQ3 2026
Latest (Q3 2026): Operating cash flow $1.5B, Capital spending $485M.

Capital allocation, year by year

SLB Limited: where the cash came from (up) and went (down), by fiscal yearSLB Limited: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $4.7BFY2021: Net borrowing −$2.1BFY2021: Shares issued $137MFY2021: Capital spending −$1.1BFY2021: Acquisitions −$103MFY2021: Dividends −$699M$4.8BFY2021FY2022: Operating cash flow $3.7BFY2022: Net borrowing −$1.6BFY2022: Shares issued $81.0MFY2022: Capital spending −$1.6BFY2022: Acquisitions −$58.0MFY2022: Dividends −$848M$3.8BFY2022FY2023: Operating cash flow $6.6BFY2023: Net borrowing −$582MFY2023: Shares issued $90.0MFY2023: Capital spending −$1.9BFY2023: Acquisitions −$242MFY2023: Buybacks −$694MFY2023: Dividends −$1.3B$6.7BFY2023FY2024: Operating cash flow $6.6BFY2024: Net borrowing $405MFY2024: Shares issued $29.0MFY2024: Capital spending −$1.9BFY2024: Acquisitions −$553MFY2024: Buybacks −$1.7BFY2024: Dividends −$1.5B$7.0BFY2024FY2025: Operating cash flow $6.5BFY2025: Net borrowing −$1.6BFY2025: Shares issued $7.0MFY2025: Capital spending −$1.7BFY2025: Buybacks −$2.4BFY2025: Dividends −$1.6B$6.5BFY2025
Over these 5 years operating cash flow totalled $28.1B; the largest uses were capital spending ($8.3B) and dividends ($6.0B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$3.6B
Debt$11.1B
Net debt$7.6B

SLB Limited funds itself: free cash flow was $4.6B over the last twelve months, and $3.6B of cash and investments stands against $11.1B of debt.

SLB Limited: debt maturities by year (FY2025)SLB Limited: debt maturities by year (FY2025)$1.6BYear 2$2.0BYear 3$1.3BYear 4$1.2BYear 5
Principal due in each year as disclosed in the annual report, against $3.6B of cash and investments now.

Where the cash came from and went

SLB Limited: sources (+) and uses (−) of cash, Q3 2026SLB Limited: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$1.5BBuybacks−$656MCapital spending−$485MDividends−$439MOther investing−$133MCash drawn (+) / kept (−)$122MOther financing$56.0MNet borrowing (+) / repaid (−)$25.0MShares issued$14.0MTaxes on employees’ shares−$8.0MExchange rates−$6.0M
SLB Limited: sources (+) and uses (−) of cash, TTM to Q3 2026SLB Limited: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$6.4BCapital spending−$1.8BBuybacks−$1.8BDividends−$1.7BOther investing−$1.6BOther financing$1.3BNet borrowing (+) / repaid (−)−$1.2BCash drawn (+) / kept (−)$393MShares issued$119MTaxes on employees’ shares−$71.0MExchange rates−$9.0M

From profit to cash

SLB Limited: net income to operating cash flow, Q3 2026SLB Limited: net income to operating cash flow, Q3 2026Net income$780MDepreciation & amortization$698MStock-based pay$72.0MDeferred taxes−$22.0MReceivables−$575MInventory−$93.0MPayables$598MPrepaid and other assets−$85.0MOther liabilities−$23.0MIncome taxes payable−$47.0MOther operating capital$15.0MOperating cash flow$1.5B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$1.5B−$485M—−$656M−$439M$25.0M$14.0M$122M$1.0B
Q2 2026$1.4B−$459M−$179M−$648M−$440M$1.2B$32.0M$76.0M$900M
Q1 2026$487M−$343M−$57.0M−$451M−$426M$47.0M$74.0M$217M$144M
Q4 2025$3.0B−$516M——−$426M−$521M−$1.0M−$22.0M$2.5B
Q3 2025$1.7B−$409M—−$114M−$403M−$1.5B—$222M$1.3B
Q2 2025$1.1B−$371M−$10.0M—−$387M−$725M—−$300M$771M
Q1 2025$660M−$398M−$37.0M−$2.3B−$386M$1.8B$8.0M$608M$262M
Q4 2024$2.4B−$609M−$1.0M−$501M−$389M−$512M$4.0M−$458M$1.8B

SLB Limited: income statement and cash flow

SLB Limited, Q3 2026: revenue $9.4B (+6% year over year), operating margin 10.8%. The chart follows the revenue to costs, profit and cash.

SLB Limited: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.