SLB (SLB) Investor Day 2026 summary

Financial performance and growth profile

• Digital revenue reached $2.7 billion in 2025, with $900 million adjusted EBITDA and a 35% margin, growing at a 16% CAGR since 2021, outpacing the broader market.

• Digital business is highly diversified across geographies, customer types, and revenue categories, serving over 1,500 customers including 90 of the top 100 oil and gas producers.

• Platforms and applications account for 40% of digital revenue, with digital operations expected to become the largest segment over time.

• Digital operations currently represent 1.5% of core equipment and services revenue, with potential to triple by 2030.

• Digital is the division with the highest return on capital employed, driving growth, margin expansion, and attractive returns.

Market opportunity and monetization strategy

• Total addressable market for digital is projected to reach $35 billion by 2030, with upside to $50 billion if AI adoption accelerates.

• Digital revenue is targeted to grow at a 10%-15% CAGR through 2030, outpacing both upstream investment and industry digital spend.

• Monetization models include recurring software subscriptions, outcome-based pricing, and one-time license sales, with a focus on increasing recurring and consumption-based revenue.

• Growth in platforms and applications will be driven by transitioning customers to subscriptions, cloud migration, and expanding usage-based monetization.

• Digital operations growth will be fueled by scaling connected equipment, autonomous workflows, and AI-driven solutions.

2030 financial ambitions and margin drivers

• Digital annual recurring revenue is expected to double to $2 billion by 2030.

• Adjusted EBITDA for digital is targeted to double to $1.8-$2 billion, with margins expanding to 38%-42% by 2030.

• Margin expansion will be driven by operating leverage, increased subscription-based revenue, and AI-enabled outcome-based pricing.

• SaaS and cloud-based revenue could rise from under 50% to 75% of the mix, further supporting margin growth.

• Digital growth is expected to be secular and less cyclical than core services, with digital pull-through boosting core operations.