SLB (SLB.N) Digital Investor Day – Will It Move the Stock? Segment Deep Dive

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SLB (SLB.N) Digital Investor Day – Will It Move the Stock? Segment Deep Dive

Viewpoint |

16 Jun 2026 05:00:00 ET │ 20 pages

SLB (SLB.N)

Digital Investor Day – Will It Move the Stock? Segment Deep Dive

CITI'S TAKE

SLB's upcoming Digital Investor Day (Wed., June 17th) has been a source

recent questions. Expectations appear modest as investors debate the Buy

long-term growth prospects and how much it can differentiate the

Price (15 Jun 26 16:00) US$53.71investment narrative. We see investors exiting the event with at least a

directionally more positive view. We believe SLB can make the case that the Target price US$68.00

intersection of the digital transformation with the physical demands of Expected share price return 26.6%

extracting hydrocarbons offers avenues for value creation and a distinct

ecosystem compared to pure software businesses. This should also be Expected dividend yield 2.1%

complemented by the benefits of higher crude prices. The combination Expected total return 28.7%

should sustain growth that is both margin and FCF accretive aiding the Market Cap US$80,300M

corporate multiple.

The Dimensions of Digital — SLB has undertaken an architectural transformation of

its digital offering to create a leading AI-enabled platform for the Energy industry. Price Performance

The platform can be simplified down to three primary layers a) planning - includes

(RIC: SLB.N, BB: SLB US)applications from reservoir modeling to planning a drilling campaign to optimizing a

production program, b) digital operations - where digital meets the physical

workspace via edge compute and automation, and c) data/AI - leveraging AI/LLMs

to access and analyze large curated datasets.

Operator Views — Kimberlite Research surveyed operators to ascertain their views

toward digital/AI.