NOV vs. SLB
NOV (National Oilwell Varco, Inc.) and SLB (SLB N.V.) are both stocks. Both operate in the Oil & Gas Equipment & Services industry within the Energy sector. Over the past 10 years, NOV returned -4.64%/yr vs -1.84%/yr for SLB. A 0.72 correlation means they provide meaningful diversification when combined.
Performance
NOV vs. SLB - Performance Comparison
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Returns By Period
In the year-to-date period, NOV achieves a 21.61% return, which is significantly lower than SLB's 25.91% return. Over the past 10 years, NOV has underperformed SLB with an annualized return of -4.64%, while SLB has yielded a comparatively higher -1.84% annualized return.
NOV
- 1D
- 0.37%
- 1M
- -9.10%
- YTD
- 21.61%
- 6M
- 20.76%
- 1Y
- 45.26%
- 3Y*
- 9.93%
- 5Y*
- 6.05%
- 10Y*
- -4.64%
SLB
- 1D
- -0.33%
- 1M
- -16.13%
- YTD
- 25.91%
- 6M
- 26.50%
- 1Y
- 45.55%
- 3Y*
- 3.44%
- 5Y*
- 9.90%
- 10Y*
- -1.84%
NOV vs. SLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOV National Oilwell Varco, Inc. | 21.61% | 11.30% | -26.81% | -1.83% | 55.72% | -0.89% | -44.93% | -1.69% | -28.28% | -3.23% |
SLB SLB N.V. | 25.91% | 3.27% | -24.47% | -0.78% | 81.15% | 40.30% | -43.81% | 17.73% | -44.66% | -17.37% |
Correlation
The correlation between NOV and SLB is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 1996 | 0.72 |
The correlation between NOV and SLB has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.
Fundamentals
NOV:
$0.25
SLB:
$3.04
NOV:
76.13
SLB:
15.70
NOV:
0.93
SLB:
0.74
NOV:
0.80
SLB:
1.44
NOV:
$8.69B
SLB:
$35.94B
NOV:
$1.70B
SLB:
$4.90B
NOV:
$633.00M
SLB:
$5.30B
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Return for Risk
NOV vs. SLB — Risk / Return Rank
NOV
SLB
NOV vs. SLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for National Oilwell Varco, Inc. (NOV) and SLB N.V. (SLB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NOV | SLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 2.60 | +0.23 |
| Martin ratioReturn relative to average drawdown | 7.25 | 7.66 | -0.41 |
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Drawdowns
NOV vs. SLB - Drawdown Comparison
The maximum NOV drawdown since its inception was -89.77%, roughly equal to the maximum SLB drawdown of -87.64%. Use the drawdown chart below to compare losses from any high point for NOV and SLB.
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Drawdown Indicators
| NOV | SLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.77% | -87.64% | -2.13% |
Max Drawdown (1Y)Largest decline over 1 year | -16.10% | -17.62% | +1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -47.15% | -46.63% | -0.52% |
Max Drawdown (5Y)Largest decline over 5 years | -53.70% | -46.63% | -7.07% |
Max Drawdown (10Y)Largest decline over 10 years | -83.26% | -84.29% | +1.03% |
Current DrawdownCurrent decline from peak | -73.69% | -43.45% | -30.24% |
Average DrawdownAverage peak-to-trough decline | -45.22% | -31.19% | -14.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.27% | 5.96% | +0.31% |
Volatility
NOV vs. SLB - Volatility Comparison
National Oilwell Varco, Inc. (NOV) and SLB N.V. (SLB) have volatilities of 12.17% and 11.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOV | SLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.17% | 11.69% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 26.09% | 26.68% | -0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.62% | 34.73% | +3.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.22% | 37.65% | +4.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.26% | 40.49% | +6.77% |
Dividends
NOV vs. SLB - Dividend Comparison
NOV's dividend yield for the trailing twelve months is around 2.24%, less than SLB's 2.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOV National Oilwell Varco, Inc. | 2.24% | 3.26% | 1.88% | 0.99% | 0.96% | 0.37% | 0.36% | 0.80% | 0.78% | 0.56% | 1.63% | 5.49% |
SLB SLB N.V. | 2.43% | 2.97% | 2.87% | 1.92% | 1.22% | 2.09% | 4.01% | 4.98% | 5.54% | 2.97% | 2.38% | 2.87% |
Financials
NOV vs. SLB - Financials Comparison
This section allows you to compare key financial metrics between National Oilwell Varco, Inc. and SLB N.V.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
NOV vs. SLB - Profitability Comparison
NOV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, National Oilwell Varco, Inc. reported a gross profit of 379.00M and revenue of 2.05B. Therefore, the gross margin over that period was 18.5%.
SLB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, SLB N.V. reported a gross profit of 0.00 and revenue of 8.72B. Therefore, the gross margin over that period was 0.0%.
NOV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, National Oilwell Varco, Inc. reported an operating income of 47.00M and revenue of 2.05B, resulting in an operating margin of 2.3%.
SLB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, SLB N.V. reported an operating income of 0.00 and revenue of 8.72B, resulting in an operating margin of 0.0%.
NOV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, National Oilwell Varco, Inc. reported a net income of 19.00M and revenue of 2.05B, resulting in a net margin of 0.9%.
SLB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, SLB N.V. reported a net income of 752.00M and revenue of 8.72B, resulting in a net margin of 8.6%.
Frequently Asked Questions
NOV and SLB have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOV has higher volatility (12.17%) compared to SLB (11.69%). In terms of maximum drawdown, NOV dropped -89.77% vs SLB's -87.64%.
SLB currently has the higher Sharpe Ratio (1.34 vs 1.18), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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