Diamondback Energy, Inc. vs SLB LIMITED/NV, two Oil & Gas stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Neither trailing multiple is usable, Diamondback's crushed by Endeavor-acquisition charges and SLB's item-affected, so the honest comparison runs through cash and model: Diamondback yields 16.2% in free cash against SLB's 6.6%, the Permian producer against the premier oilfield-services firm. SLB nets 9.3% of revenue selling drilling technology; Diamondback's normalized margins are strong Permian production. SLB carries 0.35 turns of debt against Diamondback's 0.33 and pays a 1.8% dividend against 2.2%. The pair prices the Permian's largest pure play against the world's biggest service company; Diamondback owns the barrels and throws off far more cash, SLB provides the technology to extract them, and both trailing income statements should be read with their distortions in mind.
Comparison updated 2026-07-11.
| Metric | FANG | SLB |
|---|---|---|
| Price | $179.74 | $46.95 |
| Market cap | $50.8B | $71.1B |
| Sector | Oil & Gas | Oil & Gas |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | +6.6% | +7.3% |
| P/E | 183.4 | 20.7 |
| P/B | 1.19 | 2.60 |
| P/S | 3.34 | 1.98 |
| EV/EBITDA | 13.1 | 29.0 |
| Revenue growth | +23.1% | -0.3% |
| Operating margin | 2.7% | — |
| Net margin | 1.9% | 9.3% |
| Return on equity | 0.7% | 12.2% |
| Return on assets | 0.4% | 6.1% |
| Return on invested capital | -0.4% | — |
| FCF yield | 16.2% | 6.6% |
| Dividend yield | 2.2% | 1.8% |
| Debt / equity | 0.33 | 0.35 |
| Current ratio | 0.56 | 1.34 |
| Altman Z (solvency) | 1.39 | 2.81 |
| Piotroski F (quality) | 8 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.