SLB LIMITED/NV vs Woodside Energy Group Ltd, two Oil & Gas stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
What is priced in: SLB at 20.7 times earnings is priced for an oilfield-services recovery, Woodside at 13.2 for Australian LNG cash return, the service company carrying the more optimistic multiple. SLB earns the higher return on equity, 12.2% against Woodside's 6.87%, its activity leverage beating LNG's capital-heavy returns. Woodside nets far more per revenue dollar, 21.1% against 9.3%, and yields three times the free cash, 20% against 6.58%. SLB carries 0.35 turns of debt, Woodside none. The pair prices the premier oilfield-services firm against an LNG producer; SLB sells the drilling technology at a premium multiple, Woodside owns and sells the gas at a discount with a far fatter cash yield.
Comparison updated 2026-07-11.
| Metric | SLB | WDS |
|---|---|---|
| Price | $46.95 | $18.95 |
| Market cap | $71.1B | $35.9B |
| Sector | Oil & Gas | Oil & Gas |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | +7.3% | — |
| P/E | 20.7 | 13.2 |
| P/B | 2.60 | 0.90 |
| P/S | 1.98 | 2.77 |
| EV/EBITDA | 29.0 | 7.8 |
| Revenue growth | -0.3% | +29.4% |
| Gross margin | — | 34.9% |
| Operating margin | — | 29.9% |
| Net margin | 9.3% | 21.1% |
| Return on equity | 12.2% | 6.9% |
| Return on assets | 6.1% | 4.1% |
| Return on invested capital | — | 7.8% |
| FCF yield | 6.6% | 20.0% |
| Dividend yield | 1.8% | — |
| Debt / equity | 0.35 | 0.00 |
| Current ratio | 1.34 | 1.59 |
| Altman Z (solvency) | 2.81 | 1.27 |
| Piotroski F (quality) | 5 / 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.