Home Compare SLB vs SPM.MI
Stock Comparison · Industry comparison · Oil & Gas Equipment & Services

SLB N.V. vs Saipem SpA: Which Stock Looks Stronger in 2026?

The structural profiles are close, with SLB carrying a narrow edge on growth. Saipem SpA still has the edge on growth, which keeps the comparison from looking entirely one-sided. The market setup is mixed, without a decisive signal in either direction. The market is not adding a decisive signal either way — the structural read carries the weight.

The comparison is based on similar long-term financial trajectories, not sector labels.

Updated 2026-04-05

On growth, the clearer edge sits with Saipem SpA, while the overall score remains tighter and points the other way.

INDUSTRY COMPARISON

Both operate in: Oil & Gas Equipment & Services

This comparison is based on industry proximity, not on functional trajectory similarity. SLB and SPM.MI share the same industry classification.

For a similarity-based comparison, see how SLB and Saipem SpA each position within their functional peer groups in AssetNext.

Peer-Relative Score
SLB
SLB N.V.
52
Peer-Score
Signal qualityMedium
vs
SPM.MI
Saipem SpA
47
Peer-Score
Signal qualityMedium

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

The largest gaps do not all point in the same direction.

Dimension spread: SLB vs SPM.MI Profitability 59 55 Stability 24 13 Valuation 70 53 Growth 40 63 SLB SPM.MI
Gap Ranking
#1 Growth +23
#2 Valuation +17
#3 Stability +11
#4 Profitability +4
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for SLB and SPM.MI Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer SLBSPM.MI Relative valuation Structural strength

The structural gap is limited here, but current pricing still leans against Saipem SpA.

Valuation position uses peer-relative PE percentile (idx_pct_pe) where available.

Relative Position vs Comparable Companies
Growth
Both look solid on growth, though Saipem SpA still holds the stronger peer position.
Valuation
On valuation, the edge still sits with SLB N.V., even though both profiles look solid.
Growth — Dominant Gap
SLB
40
SPM.MI
63
Gap+23in favour of SPM.MI

The clearest distance comes from a stronger growth profile.

What else supports the lead

SLB N.V. also shows lower market-fundamental divergence, which makes the lead look less detached from the underlying business picture.

What this means for the comparison

The lead is built on both growth and valuation — though growth still provides a counterweight.

Explore full peer positioning in AssetNext

Break down the SLB vs SPM.MI comparison across all dimensions with the full interactive tool.

Explore full breakdown →
Other comparisons with conflicting dimension signals

Explore how SLB and SPM.MI each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.