SLB (SLB) FY2019 results: revenue $32.9 billion, up 0.3% on the year
SLB Limited (SLB) reported revenue of $32.9 billion for fiscal 2019, the year ended 31 December 2019, up 0.3% on the year before. Net income was -$10.1 billion, and diluted earnings per share $-7.32. The figures are the company's own, from the 10-K it filed with the SEC on 22 January 2020.
Revenue
$32.9 billion
+0.3% on the year
FY2012FY2019
Operating margin
12.1%
12.8% a year earlier
FY2012FY2019
Net income
-$10.1 billion
FY2012FY2019
Diluted EPS
-$7.32
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
32,917
32,815
30,440
+0.3%
Cost of revenue
28,720
28,478
26,543
+0.8%
Gross profit
4,197
4,337
3,897
-3.2%
Gross margin
12.8%
13.2%
12.8%
Research and development
717
702
787
+2.1%
Operating income
3,978
4,187
3,921
-5.0%
Operating margin
12.1%
12.8%
12.9%
Interest expense
609
575
566
+5.9%
Pre-tax income
-10,418
2,624
-1,183
Income tax
-311
447
330
Effective tax rate
n/a
17.0%
n/a
Net income
-10,137
2,138
-1,505
Net margin
-30.8%
6.5%
-4.9%
Diluted EPS
-$7.32
$1.53
-$1.08
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
5,431
5,713
5,663
-4.9%
Capital expenditure
1,724
2,160
2,107
-20.2%
Free cash flow
3,707
3,553
3,556
+4.3%
Free cash flow margin
11.3%
10.8%
11.7%
Cash from investing
-2,011
-1,040
-1,779
Cash from financing
-3,718
-5,020
-5,033
Depreciation and amortisation
3,589
3,556
3,837
+0.9%
Share-based compensation
405
345
343
+17.4%
Dividends paid
2,769
2,770
2,778
-0.0%
Diluted shares, weighted
1,385m
1,393m
1,388m
-0.6%
Shares outstanding at period end
1,385m
1,383m
1,384m
+0.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
23,760
36,162
36,842
-34.3%
Non-controlling interest
416
424
419
-1.9%
Debt
15,294
16,051
18,199
-4.7%
Other liabilities
16,842
17,870
16,527
-5.8%
Total liabilities and equity
56,312
70,507
71,987
-20.1%
Fixed assets
9,270
11,679
11,576
-20.6%
Goodwill
16,042
24,931
25,118
-35.7%
Intangible assets
7,089
8,727
9,354
-18.8%
Investments
1,030
1,344
3,290
-23.4%
Cash and equivalents
1,137
1,433
1,799
-20.7%
Receivables
7,747
7,881
8,084
-1.7%
Inventory
4,130
4,010
4,046
+3.0%
Other assets
9,867
10,502
8,720
-6.0%
Total assets
56,312
70,507
71,987
-20.1%
10-K for the year ended 31 December 2019, filed 22 January 2020: the filing.