Schlumberger NV (SLB)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	10,842,000	10,594,000	13,286,000	16,036,000	14,770,000
Total stockholders’ equity	US$ in thousands	20,189,000	17,685,000	15,004,000	12,071,000	23,760,000
Debt-to-capital ratio		0.35	0.37	0.47	0.57	0.38

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $10,842,000K ÷ ($10,842,000K + $20,189,000K)
= 0.35

The debt-to-capital ratio of Schlumberger Ltd. has exhibited a fluctuating trend over the past five years. In 2023, the ratio decreased to 0.37 from 0.41 in 2022, indicating a lower reliance on debt to finance its operations relative to its capital structure. This reduction in the ratio suggests an improvement in the company's ability to meet its obligations using its own capital resources. The downward trend may indicate a conservative approach towards leveraging, thereby reducing financial risk. It is also worth noting that the ratio peaked at 0.58 in 2020, reflecting a relatively higher reliance on debt financing during that period. Overall, the downward trend in the debt-to-capital ratio may signify a strengthening financial position and prudent debt management by Schlumberger Ltd.