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Core Laboratories Inc.

Rank #374Value

CLB · NYSE · Energy

Core Laboratories Inc. (CLB) — Rank #374 by gross profitability (GP/assets 0.19) · ROE 10.9% · Piotroski F-Score 7 / 9.

As-of 2026-09-15 · CIK 0001958086 · all metrics point-in-time as of the filing date.

About

Core Laboratories Inc. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, and internationally.

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It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock and reservoir fluid samples to enhance production and improve recovery of crude oil and natural gas from its clients' reservoirs. It offers laboratory-based analytical and field services to characterize properties of crude oil and oil delivered products; and proprietary and joint industry studies, as well as services that support carbon capture, utilization and storage, geothermal projects, and the evaluation and appraisal of mining activities. The Production Enhancement segment provides services and products relating to reservoir well completions, perforations, stimulations, production, and well abandonment. It offers integrated diagnostic services to evaluate and monitor the effectiveness of well completions and to develop solutions to improve the effectiveness of enhanced oil recovery projects. The company markets and sells its products through a combination of sales representatives, technical seminars, trade shows, and print advertising, as well as through distributors. Core Laboratories Inc.

was founded in 1936 and is based in Houston, Texas.

Industry
Oil & Gas Equipment & Services
Sector
Energy
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Price History

CLB-54.7% · -14.6% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and dividend yield are the primary valuation lenses for mature businesses.

Market Cap

$567.82M

P/E (annual)

19.6

P/S (annual)

1.1

P/B

2.1

P/OCF (annual)

15.3

Shareholder Yield

1.7%

Employees

3,300

Industry

Oil & Gas Equipment & Services

Exchange

NYSE

Signal Flags

1 green1 yellow1 red
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 2-quarter streak
Disclosure regressionA previously-disclosed line item is no longer reported — worth checking the filing for why
Operating margin decliningOperating margin lower than prior year

Quality Profile

Profitability

1/1 pass
GP / assets
0.19
Return on equity
10.9%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.10
Current ratio
2.12×
Net cash
-$91.13M

Cash Flow

2/3 pass
Positive FCF
PASS
Cash-backed earnings
WARN
Accruals healthy
PASS
SBC / revenue
1.4%

Growth

2/2 pass
Revenue growth
0.5%
Piotroski F-Score
7 / 9
Share dilution
-1.4%

Terry Smith quality gate

Passes 0/5 Terry Smith thresholds

What Growth Is Priced In

Implied revenue growth (10Y)

9.3%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Buyback tailwind: -1.4% — per-share value needs a total required return of 8.0% once share-count change is priced in.

vs. own 6-year median revenue growth: 4.1%

priced above its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

4.9%

r = 10% (base)

9.3%

r = 12%

13.2%

Net debt / market cap: 15.7%

Base FCF: $25.8M3Y mean FCF: $27.8M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

26.8xFair
19.3xmed 26.8x35.4x

P / S

Price / revenue per share

1.5xExpensive
1.4xmed 1.5x1.6x

P / B

Price / book value per share

3.0xCheap
3.0xmed 3.3x4.3x

P / FCF

Price / free cash flow per share

30.7xFair
19.1xmed 30.7x49.7x

Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).

Profitability

Gross profitability (GP / assets)

0.19

Primary signal (Novy-Marx).

5th of 6 SIC 13 peers

Return on equity

10.9%

Gross margin

20.7%

5th of 6 SIC 13 peers

Revenue growth (YoY)

0.5%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

2.4%

Revenue CAGR (5Y)

—

Earnings CAGR (3Y)

15.1%

FCF CAGR (3Y)

—

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.10

6th of 6 SIC 13 peers (best = lowest)

Current ratio

2.12×

3rd of 6 SIC 13 peers

Quick ratio

1.30×

Net cash

-$91.13M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$25.82M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

-0.13

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

WARN

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

1.4%

Stock-based comp intensity.

Dividend safety

Composite score

3.2 / 5

Good
Payout ratio
6.3%5/5 Strong
FCF coverage
13.82×5/5 Strong
Dividend growth streak
0 yr0/5 Weak
Balance-sheet health
D/E 1.10 · IC 5.34×3/5 Good

Piotroski F-Score

F-Score

7 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20212025
Capital Return
Value
View full financial statements →