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Borr Drilling Limited (BORR) 10-Year Financial Performance & Capital Metrics

BORR • • Industrial / General
EnergyOil & Gas DrillingOffshore Drilling ContractorsJack-up Rig Specialists
AboutBorr Drilling Limited operates as an offshore drilling contractor to the oil and gas industry worldwide. It owns, contracts, and operates jack-up rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production. The company serves oil and gas exploration and production companies, such as integrated oil companies, state-owned national oil companies, and independent oil and gas companies. As of December 31, 2021, it operated a fleet of 23 jack-up drilling rigs. The company was formerly known as Magni Drilling Limited and changed its name to Borr Drilling Limited in December 2016. Borr Drilling Limited was incorporated in 2016 and is based in Hamilton, Bermuda.Show more
  • Revenue $1.01B +31.0%
  • EBITDA $505M +37.4%
  • Net Income $82M +271.5%
  • EPS (Diluted) 0.32 +259.1%
  • Gross Margin 87.02% +2.6%
  • EBITDA Margin 50.01% +4.9%
  • Operating Margin 37.03% +14.1%
  • Net Margin 8.12% +183.6%
  • ROE 8.3% +253.6%
  • ROIC 9.98% +32.0%
  • Debt/Equity 2.13 +22.9%
  • Interest Coverage 1.71 +22.6%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 91 (top 9%)
  • ✓Strong 5Y sales CAGR of 24.8%
  • ✓Trading at only 1.1x book value

✗Weaknesses

  • ✗High debt to equity ratio of 2.1x
  • ✗Negative free cash flow
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y24.78%
3Y60.31%
TTM5.83%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-10.57%

EPS CAGR

10Y-
5Y-
3Y-
TTM-16.88%

ROCE

10Y Avg-1.51%
5Y Avg2.03%
3Y Avg6.41%
Latest13.06%

Peer Comparison

Jack-up Rig Specialists
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
BORRBorr Drilling Limited1.33B4.3213.5030.97%7.35%6.6%2.13

Profit & Loss

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+0100K164.9M334.1M307.5M245.3M443.8M771.6M1.01B
Revenue Growth %--1648%1.03%-0.08%-0.2%0.81%0.74%0.31%
Cost of Goods Sold+047.9M103.7M121.6M117.9M119.6M116.5M117.4M131.2M
COGS % of Revenue-479%0.63%0.36%0.38%0.49%0.26%0.15%0.13%
Gross Profit+0-36.1M61.2M212.5M189.6M125.7M327.3M654.2M879.4M
Gross Margin %--361%0.37%0.64%0.62%0.51%0.74%0.85%0.87%
Gross Profit Growth %--2.7%2.47%-0.11%-0.34%1.6%1%0.34%
Operating Expenses+753K57.2M192.6M363.3M377.6M214M429.2M403.8M505.2M
OpEx % of Revenue-572%1.17%1.09%1.23%0.87%0.97%0.52%0.5%
Selling, General & Admin753K21M38.7M50.4M49.1M34.7M36.8M45.1M49.2M
SG&A % of Revenue-210%0.23%0.15%0.16%0.14%0.08%0.06%0.05%
Research & Development000000000
R&D % of Revenue---------
Other Operating Expenses067.6M180.1M312.9M328.5M179.3M392.4M358.7M456M
Operating Income+-753K-109.7M-131.4M-150.8M-188M-88.3M-101.9M250.4M374.2M
Operating Margin %--1097%-0.8%-0.45%-0.61%-0.36%-0.23%0.32%0.37%
Operating Income Growth %--144.68%-0.2%-0.15%-0.25%0.53%-0.15%3.46%0.49%
EBITDA+1.17M-88.5M-51.9M-49.4M-70.1M31.3M14.6M367.8M505.4M
EBITDA Margin %--885%-0.31%-0.15%-0.23%0.13%0.03%0.48%0.5%
EBITDA Growth %--76.84%0.41%0.05%-0.42%1.45%-0.53%24.19%0.37%
D&A (Non-Cash Add-back)1.92M21.2M79.5M101.4M117.9M119.6M116.5M117.4M131.2M
EBIT-753K-87.5M-174.7M-217.5M-214M-90.4M-149M214.5M341.8M
Net Interest Income+02.7M-16M-83.7M-97M-92.9M-146.5M-174.6M-212.4M
Interest Income03.2M1.2M1.5M200K05.4M4.9M6.4M
Interest Expense0500K17.2M85.2M97.2M92.9M151.9M179.5M218.8M
Other Income/Expense021.7M-57M-137.1M-113.4M-95M-172.5M-194.3M-233.9M
Pretax Income+-735K-88M-188.4M-287.9M-301.4M-183.3M-274.4M56.1M140.3M
Pretax Margin %--880%-1.14%-0.86%-0.98%-0.75%-0.62%0.07%0.14%
Income Tax+1.95K02.5M11.2M16.2M9.7M18.4M34M58.2M
Effective Tax Rate %1.03%1%1.01%1.03%1.05%1.05%1.07%0.39%0.59%
Net Income+-755K-88M-190.5M-297.6M-317.6M-193M-292.8M22.1M82.1M
Net Margin %--880%-1.16%-0.89%-1.03%-0.79%-0.66%0.03%0.08%
Net Income Growth %--115.56%-1.16%-0.56%-0.07%0.39%-0.52%1.08%2.71%
Net Income (Continuing)-755K-88M-190.9M-299.1M-317.6M-193M-292.8M22.1M82.1M
Discontinued Operations000000000
Minority Interest02M1.7M200K00000
EPS (Diluted)+-0.01-3.31-3.70-5.59-4.06-1.43-1.640.090.32
EPS Growth %---0.12%-0.51%0.27%0.65%-0.15%1.05%2.59%
EPS (Basic)-0.01-3.40-3.70-5.59-4.06-1.43-1.640.090.33
Diluted Shares Outstanding101M26.56M51.44M53.74M75.18M134.73M178.41M248.15M254.46M
Basic Shares Outstanding101M26.56M51.44M53.74M75.18M134.73M178.41M244.27M250.89M
Dividend Payout Ratio--------0.93%

Balance Sheet

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+138.12M225.5M208.6M256.2M133.6M176.2M349.9M409.9M516.6M
Cash & Short-Term Investments138.12M168.4M32.1M128.5M19.2M34.9M108M102.5M61.6M
Cash Only138.12M164M27.9M128.5M19.2M34.9M108M102.5M61.6M
Short-Term Investments04.4M4.2M000000
Accounts Receivable05.1M93.1M110.5M99M113.1M190.9M255.9M404.2M
Days Sales Outstanding-18.61K206.07120.72117.51168.29157121.05145.99
Inventory0083.4M000000
Days Inventory Outstanding--293.55------
Other Current Assets049.4M116.6M9.1M9M21.6M41.4M40.5M42.4M
Total Non-Current Assets+19.97M1.45B2.71B3.02B3.04B2.9B2.65B2.67B2.9B
Property, Plant & Equipment3K1.43B2.65B2.95B2.97B2.87B2.6B2.59B2.83B
Fixed Asset Turnover-0.00x0.06x0.11x0.10x0.09x0.17x0.30x0.36x
Goodwill000000000
Intangible Assets000000000
Long-Term Investments020.7M31M33.7M62.7M19.4M20.6M15.7M14.5M
Other Non-Current Assets19.97M022.1M34.6M7.6M12.7M29.5M46.9M43.1M
Total Assets+158.09M1.67B2.91B3.28B3.17B3.08B3B3.08B3.42B
Asset Turnover-0.00x0.06x0.10x0.10x0.08x0.15x0.25x0.30x
Asset Growth %-9.58%0.74%0.13%-0.03%-0.03%-0.03%0.03%0.11%
Total Current Liabilities+244K21.1M119.3M249.7M96M117.9M745.6M360.4M409.6M
Accounts Payable09.6M9.6M14.1M20.4M34.7M47.7M35.5M81.6M
Days Payables Outstanding-73.1533.7942.3263.16105.9149.45110.37227.01
Short-Term Debt0003.4M3.1M0405.1M82.9M118.1M
Deferred Revenue (Current)001000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities4K0102.4M202.6M57.9M1.4M42.2M6.1M4.4M
Current Ratio566.06x10.69x1.75x1.03x1.39x1.49x0.47x1.14x1.26x
Quick Ratio566.06x10.69x1.05x1.03x1.39x1.49x0.47x1.14x1.26x
Cash Conversion Cycle--465.83------
Total Non-Current Liabilities+40K158.3M1.26B1.74B2.04B2.07B1.36B1.74B2.02B
Long-Term Debt087M1.17B1.7B1.9B1.92B1.19B1.62B1.99B
Capital Lease Obligations0006.5M2.9M0000
Deferred Tax Liabilities0-71.3M0000000
Other Non-Current Liabilities100K71.3M86.3M26.4M132.1M154.1M98.5M60.3M3.2M
Total Liabilities244K179.4M1.38B1.99B2.13B2.19B2.1B2.1B2.43B
Total Debt+087M1.18B1.71B1.91B1.92B1.6B1.7B2.11B
Net Debt-138.12M-77M1.15B1.58B1.89B1.88B1.49B1.6B2.05B
Debt / Equity-0.06x0.77x1.32x1.84x2.15x1.78x1.73x2.13x
Debt / EBITDA-----61.23x109.36x4.63x4.18x
Net Debt / EBITDA-118.35x----60.12x101.97x4.35x4.06x
Interest Coverage--219.40x-7.64x-1.77x-1.93x-0.95x-0.67x1.39x1.71x
Total Equity+157.84M1.49B1.53B1.29B1.04B889.9M897.8M984M993.3M
Equity Growth %-8.46%0.03%-0.16%-0.2%-0.14%0.01%0.1%0.01%
Book Value per Share1.5656.2029.8124.0813.796.615.033.973.90
Total Shareholders' Equity157.84M1.49B1.53B1.29B1.04B889.9M897.8M984M993.3M
Common Stock775K4.8M5.3M5.6M11M13.8M23M26.5M26.5M
Retained Earnings-755K-88.8M-279.2M-576.7M-895.2M-1.09B-1.38B-1.36B-1.28B
Treasury Stock0-6.7M-26.2M-26.2M-26.2M-13.7M-9.8M-8.9M-20.9M
Accumulated OCI0-6.2M-5.6M000000
Minority Interest02M1.7M200K00000

Cash Flow

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-79.03K-32.6M-135.2M-89M-54.7M-58.9M62.5M-50.7M77.3M
Operating CF Margin %--326%-0.82%-0.27%-0.18%-0.24%0.14%-0.07%0.08%
Operating CF Growth %--411.5%-3.15%0.34%0.39%-0.08%2.06%-1.81%2.52%
Net Income-736.65K-88M-190.9M-308.1M-305.2M-193M-292.8M22.1M82.1M
Depreciation & Amortization047.9M79.5M101.4M117.9M119.6M116.5M117.4M131.2M
Stock-Based Compensation08.2M3.7M3.9M700K900K2.6M5.6M9.1M
Deferred Taxes0-4.4M-500K1.4M1.2M-500K-2.1M-17.12M700K
Other Non-Cash Items181.48K100K32.5M93.9M63.6M-4M167.3M-16.58M-23.4M
Working Capital Changes238.07K3.6M-59.5M18.5M67.1M18.1M71M-162.1M-122.4M
Change in Receivables00000-13.7M004M
Change in Inventory000000000
Change in Payables238.07K20.31M0000000
Cash from Investing+-13.63M-1.45B-560.1M-271.1M-119.8M40.9M-82.6M-104.2M-409.4M
Capital Expenditures-2.93K-1.06B-393.6M-271.6M-42.4M-18.9M-83.3M-114M-409.4M
CapEx % of Revenue-10573%2.39%0.81%0.14%0.08%0.19%0.15%0.41%
Acquisitions---------
Investments---------
Other Investing-13.62M-39.1M41.6M7M37.7M49.2M13.42K9.8M0
Cash from Financing+148.47M1.51B583.5M397.3M65.2M44.8M92.6M139M292M
Debt Issued (Net)---------
Equity Issued (Net)---------
Dividends Paid00000000-76.3M
Share Repurchases---------
Other Financing12.68M0190.4M000058.9M2.3M
Net Change in Cash---------
Free Cash Flow+-81.96K-1.09B-528.8M-360.6M-97.1M-77.8M-20.8M-164.7M-332.1M
FCF Margin %--10899%-3.21%-1.08%-0.32%-0.32%-0.05%-0.21%-0.33%
FCF Growth %--13297.26%0.51%0.32%0.73%0.2%0.73%-6.92%-1.02%
FCF per Share-0.00-41.03-10.28-6.71-1.29-0.58-0.12-0.66-1.31
FCF Conversion (FCF/Net Income)0.10x0.37x0.71x0.30x0.17x0.31x-0.21x-2.29x0.94x
Interest Paid008.6M69M40.1M57.2M83.9M217.4M186.9M
Taxes Paid003.2M1.3M8.6M016.2M38.2M55.2M

Key Ratios

Metric201620172018201920202021202220232024
Return on Equity (ROE)-0.48%-10.66%-12.59%-21.05%-27.25%-20.03%-32.76%2.35%8.3%
Return on Invested Capital (ROIC)-2.86%-11.46%-4.81%-4.07%-4.86%-2.32%-2.96%7.56%9.98%
Gross Margin--36100%37.11%63.6%61.66%51.24%73.75%84.78%87.02%
Net Margin--88000%-115.52%-89.08%-103.28%-78.68%-65.98%2.86%8.12%
Debt / Equity-0.06x0.77x1.32x1.84x2.15x1.78x1.73x2.13x
Interest Coverage--219.40x-7.64x-1.77x-1.93x-0.95x-0.67x1.39x1.71x
FCF Conversion0.10x0.37x0.71x0.30x0.17x0.31x-0.21x-2.29x0.94x
Revenue Growth--164800%102.61%-7.96%-20.23%80.92%73.86%30.97%

Revenue by Segment

201920202021202220232024
Dayrate Revenue--15.3M167.5M83.5M102.5M
Dayrate Revenue Growth---994.77%-50.15%22.75%
Other Revenue--1.8M15.5M9.9M13.9M
Other Revenue Growth---761.11%-36.13%40.40%
Integrated Well Services-386.2M----
Integrated Well Services Growth------

Revenue by Geography

201920202021202220232024
Latin America-----289.6M
Latin America Growth------
South East Asia23.8M70.6M99.5M154.5M233M285.9M
South East Asia Growth-196.64%40.93%55.28%50.81%22.70%
Middle East43.2M33M-37.7M147.8M210.9M
Middle East Growth--23.61%--292.04%42.69%
West Africa102.4M108.1M30.7M106.9M168.6M187.8M
West Africa Growth-5.57%-71.60%248.21%57.72%11.39%
Europe114.7M52.6M75.6M48.8M31M36.4M
Europe Growth--54.14%43.73%-35.45%-36.48%17.42%
MEXICO-43.2M39.5M95.9M191.2M-
MEXICO Growth---8.56%142.78%99.37%-
Mexico50M-----
Mexico Growth------

Frequently Asked Questions

Valuation & Price

Borr Drilling Limited (BORR) has a price-to-earnings (P/E) ratio of 13.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Borr Drilling Limited (BORR) reported $1.02B in revenue for fiscal year 2024.

Borr Drilling Limited (BORR) grew revenue by 31.0% over the past year. This is strong growth.

Yes, Borr Drilling Limited (BORR) is profitable, generating $75.3M in net income for fiscal year 2024 (8.1% net margin).

Dividend & Returns

Yes, Borr Drilling Limited (BORR) pays a dividend with a yield of 6.94%. This makes it attractive for income-focused investors.

Borr Drilling Limited (BORR) has a return on equity (ROE) of 8.3%. This is below average, suggesting room for improvement.

Borr Drilling Limited (BORR) had negative free cash flow of $58.4M in fiscal year 2024, likely due to heavy capital investments.

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