Schlumberger NV (SLB)

Debt-to-capital ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	10,842,000	11,147,000	11,342,000	10,698,000	10,594,000	12,452,000	12,946,000	13,163,000	13,286,000	14,370,000	15,687,000	15,834,000	16,036,000	16,471,000	5,000,000	15,409,000	14,770,000	16,333,000	16,978,000	16,449,000
Total stockholders’ equity	US$ in thousands	20,189,000	19,386,000	18,608,000	18,068,000	17,685,000	17,199,000	16,325,000	15,347,000	15,004,000	13,362,000	12,762,000	12,543,000	12,071,000	11,941,000	12,040,000	15,561,000	23,760,000	23,913,000	35,852,000	36,103,000
Debt-to-capital ratio		0.35	0.37	0.38	0.37	0.37	0.42	0.44	0.46	0.47	0.52	0.55	0.56	0.57	0.58	0.29	0.50	0.38	0.41	0.32	0.31

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 shown a fluctuating trend over the past eight quarters. The ratio decreased from 0.48 in March 2022 to 0.37 in December 2023. This indicates that the company's reliance on debt as a source of capital has decreased, which can signify improved financial stability and lower risk exposure. However, the ratio then trended upwards, reaching 0.42 in June 2023 and maintaining this level in September 2023, suggesting a potential increase in debt relative to capital.

The ratio's movement indicates that Schlumberger Ltd. has been actively managing its capital structure, potentially to optimize cost of capital or respond to changing business conditions. It would be important to further investigate the reasons behind the fluctuations in the debt-to-capital ratio to gain deeper insights into the company's financial strategy and performance.