SLBMEX:SLBN +1.19%70 ROC (Joel Greenblatt) % is 37.73% as of Mar. 2026, which is 20% above its 10-year median of 31.51. GuruFocus rates MEX:SLBN with a GF Score™ of 70/100 and a GF Value™ of MXN799.77 (Fairly Valued). The stock has 2 warning signs investors should review. Among 997 Oil & Gas companies, SLB ranks better than 91.07% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. SLB's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 37.73%.
The historical rank and industry rank for SLB's ROC (Joel Greenblatt) % or its related term are showing as below:
MEX:SLBN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -118.07 Med: 31.51 Max: 62.29
Current: 42.11
During the past 13 years, SLB's highest ROC (Joel Greenblatt) % was 62.29%. The lowest was -118.07%. And the median was 31.51%.
MEX:SLBN's ROC (Joel Greenblatt) % is ranked better than 91.07% of 997
companies
in the Oil & Gas industry
Industry Median: 8.44
vs MEX:SLBN: 42.11
SLB's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
The historical data trend for SLB's ROC (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MEX:SLBN vs BKR, HAL, FTI: ROC (Joel Greenblatt) % Comparison
For the Oil & Gas Equipment & Services subindustry, SLB's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
SLB ROC (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, SLB's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where SLB's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 37.73% mean?
SLB (MEX:SLBN) has a ROC (Joel Greenblatt) % of 37.73% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on SLB and its competitors. This is 20% above median its historical median of 31.51. According to the industry distribution chart, SLB ranks #89 out of 997 companies in the Oil & Gas industry, placing it in the top 8.9%.
Is SLB's ROC (Joel Greenblatt) % too high?
SLB's current ROC (Joel Greenblatt) % of 37.73% is 20% above median its 10-year median of 31.51. The Oil & Gas industry median ROC (Joel Greenblatt) % is 8.44. SLB's value of 37.73% is 347% above this industry median. Based on the distribution chart, SLB ranks #89 out of 997 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, SLB has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does SLB's ROC (Joel Greenblatt) % compare to BKR and HAL?
According to the Oil & Gas industry distribution chart, SLB ranks #89 out of 997 companies for ROC (Joel Greenblatt) %. This places SLB in the top 9% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.44. SLB's value of 37.73% is 347% above this benchmark. While the company's 10-year median is 31.51 vs. the industry median of 8.44, SLB has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for an Oil & Gas company?
The median ROC (Joel Greenblatt) % among Oil & Gas companies is 8.44, based on 997 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SLB's current ROC (Joel Greenblatt) % of 37.73% is 347% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on SLB and its competitors. For the Oil & Gas industry, the median ROC (Joel Greenblatt) % is 8.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SLB's current ROC (Joel Greenblatt) % is 37.73%, which is 20% above median its own 10-year median of 31.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SLB stock overvalued right now?
Based on GuruFocus' analysis, SLB (MEX:SLBN) is currently considered Fairly Valued. The stock's GF Value™ is MXN799.77, compared to a current price of MXN836.00 — trading 4.5% above its estimated fair value. The current ROC (Joel Greenblatt) % is 37.73%, which is 20% above median its 10-year median of 31.51 and 347% above the Oil & Gas industry median of 8.44. SLB's overall GF Score™ is 70/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For SLB (MEX:SLBN), the current ROC (Joel Greenblatt) % is 37.73% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is SLB (MEX:SLBN) Overvalued in 2026?
Based on GuruFocus' analysis, SLB stock appears to be overvalued.
The current stock price of MXN836.00 is trading 4.5% above its estimated GF Value™ of MXN799.77.
GuruFocus considers SLB to be Fairly Valued.
Key valuation signals for MEX:SLBN:
ROC (Joel Greenblatt) %: 37.73% (20% above median its 10-year median of 31.51)
GF Value™: MXN799.77 vs. price of MXN836.00 (4.5% above fair value)
Industry Position: 347% above the Oil & Gas median (#89 of 997)
No single metric tells the full story. See the MEX:SLBN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SLB is the world's premier oilfield-services company as measured by market share. While the industry is largely fragmented, SLB holds the first or second competitive position in many of the differentiated oligopolies in which it operates. Also known as Schlumberger, the company was founded in 1926 by Conrad and Marcel Schlumberger. Today, it's most known as a global industry leader in innovation, while it focuses its strategy on its three growth engines: core, digital, and new energy businesses. Over three-fourths of its revenue base is tied to international markets, while the company boasts nearly $3 billion in digital-related revenue.
70GF Score
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