SLB (SLB) FY2020 results: revenue $23.6 billion, down 28.3% on the year
SLB Limited (SLB) reported revenue of $23.6 billion for fiscal 2020, the year ended 31 December 2020, down 28.3% on the year before. Net income was -$10.5 billion, and diluted earnings per share $-7.57. The figures are the company's own, from the 10-K it filed with the SEC on 27 January 2021.
Revenue
$23.6 billion
-28.3% on the year
FY2013FY2020
Operating margin
10.2%
12.1% a year earlier
FY2013FY2020
Net income
-$10.5 billion
FY2013FY2020
Diluted EPS
-$7.57
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
23,601
32,917
32,815
-28.3%
Cost of revenue
21,000
28,720
28,478
-26.9%
Gross profit
2,601
4,197
4,337
-38.0%
Gross margin
11.0%
12.8%
13.2%
Research and development
580
717
702
-19.1%
Operating income
2,401
3,978
4,187
-39.6%
Operating margin
10.2%
12.1%
12.8%
Interest expense
563
609
575
-7.6%
Pre-tax income
-11,298
-10,418
2,624
Income tax
-812
-311
447
Effective tax rate
n/a
n/a
17.0%
Net income
-10,518
-10,137
2,138
Net margin
-44.6%
-30.8%
6.5%
Diluted EPS
-$7.57
-$7.32
$1.53
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,944
5,431
5,713
-45.8%
Capital expenditure
1,116
1,724
2,160
-35.3%
Free cash flow
1,828
3,707
3,553
-50.7%
Free cash flow margin
7.7%
11.3%
10.8%
Cash from investing
-2,353
-2,011
-1,040
Cash from financing
-873
-3,718
-5,020
Depreciation and amortisation
2,566
3,589
3,556
-28.5%
Share-based compensation
397
405
345
-2.0%
Dividends paid
1,734
2,769
2,770
-37.4%
Diluted shares, weighted
1,390m
1,385m
1,393m
+0.4%
Shares outstanding at period end
1,392m
1,385m
1,383m
+0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
12,071
23,760
36,162
-49.2%
Non-controlling interest
418
416
424
+0.5%
Debt
16,886
15,294
16,051
+10.4%
Other liabilities
13,059
16,842
17,870
-22.5%
Total liabilities and equity
42,434
56,312
70,507
-24.6%
Fixed assets
6,826
9,270
11,679
-26.4%
Goodwill
12,980
16,042
24,931
-19.1%
Intangible assets
3,455
7,089
8,727
-51.3%
Investments
2,162
1,030
1,344
+109.9%
Cash and equivalents
844
1,137
1,433
-25.8%
Receivables
5,247
7,747
7,881
-32.3%
Inventory
3,354
4,130
4,010
-18.8%
Other assets
7,566
9,867
10,502
-23.3%
Total assets
42,434
56,312
70,507
-24.6%
10-K for the year ended 31 December 2020, filed 27 January 2021: the filing.