Is Schlumberger (SLB) (NYSE:SLB) a buy in 2026?
Yes, on balance. The Compass leans toward accumulating Schlumberger (SLB) at current levels.
SLB's digital and subsea businesses are building recurring revenue streams the market still prices like a cyclical driller.
Where SLB is headed
SLB (NYSE:SLB) is trading within a few percent of its 52-week high, which seems odd for a company with only 2.7% revenue growth. But the stock price isn't about what SLB did last quarter. It's about what SLB is becoming. By late 2027, the company's Digital & Integration division (which includes its Delfi platform, Lumi AI tools, and data processing business) should be running at north of $5B annually, up from roughly $4B today. That business carries margins well above the corporate average, and its subscription-based model creates the kind of cash flow predictability that oilfield services companies have never had. Meanwhile, OneSubsea (its subsea joint venture with Aker Solutions, consolidated in 2024) is positioned to capture a wave of deepwater FIDs that have already been sanctioned but won't flow equipment revenue until 2026-2028.
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Frequently asked questions
Is Schlumberger (SLB) (NYSE:SLB) a buy in 2026?
Yes, on balance. The Compass leans toward accumulating Schlumberger (SLB) at current levels. SLB's digital and subsea businesses are building recurring revenue streams the market still prices like a cyclical driller.
What is SLB's Compass Score?
Schlumberger (SLB) scores 34/100 on Alexandria's Compass, placing it in the "Headwinds" tier. Scores blend eight factors and update weekly.
What is the price target for SLB?
Alexandria's full Compass Direction includes bull, base, and bear price scenarios with the valuation math behind each. Read the full breakdown on the SLB page.
Compass verdicts are AI-generated, forward-looking editorial research from publicly available data, not investment advice or a recommendation regarding any security. Scores and verdicts update as the data changes.