BORR DRILLING LTD Financials

BORR

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 60/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

BORR DRILLING LTD has an operating margin of 37.0%, meaning the company retains $37 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 32.5% the prior year.

Growth

100

BORR DRILLING LTD's revenue surged 31.0% year-over-year to $1.0B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

BORR DRILLING LTD has a moderate D/E ratio of 2.01. This balance of debt and equity financing earns a leverage score of 37/100.

Liquidity

BORR DRILLING LTD's current ratio of 1.26 indicates adequate short-term liquidity, earning a score of 30/100. The company can meet its near-term obligations, though with limited headroom.

Returns

BORR DRILLING LTD's ROE of 8.3% shows moderate profitability relative to equity, earning a score of 33/100. This is up from 2.3% the prior year.

Altman Z-Score Distress

0.60

BORR DRILLING LTD scores 0.60, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.7B) relative to total liabilities ($2.4B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

6/9

BORR DRILLING LTD passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

0.94x

For every $1 of reported earnings, BORR DRILLING LTD generates $0.94 in operating cash flow ($77.3M OCF vs $82.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

1.9x

BORR DRILLING LTD earns $1.9 in operating income for every $1 of interest expense ($374.2M vs $194.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows BORR DRILLING LTD (BORR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$1.0B

YoY+31.0%

5Y CAGR+24.8%

BORR DRILLING LTD generated $1.0B in revenue in fiscal year 2024. This represents an increase of 31.0% from the prior year.

EBITDA

$505.4M

YoY+37.4%

BORR DRILLING LTD's EBITDA was $505.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 37.4% from the prior year.

Free Cash Flow

N/A

Net Income

$82.1M

YoY+271.5%

BORR DRILLING LTD reported $82.1M in net income in fiscal year 2024. This represents an increase of 271.5% from the prior year.

EPS (Diluted)

$0.32

YoY+255.6%

BORR DRILLING LTD earned $0.32 per diluted share (EPS) in fiscal year 2024. This represents an increase of 255.6% from the prior year.

Cash & Debt

$61.6M

YoY-39.9%

5Y CAGR+0.8%

BORR DRILLING LTD held $61.6M in cash against $2.0B in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

245M

YoY-3.0%

5Y CAGR+17.2%

BORR DRILLING LTD had 245M shares outstanding in fiscal year 2024. This represents a decrease of 3.0% from the prior year.

Gross Margin

N/A

Operating Margin

37.0%

YoY+4.6pp

5Y CAGR+82.2pp

BORR DRILLING LTD's operating margin was 37.0% in fiscal year 2024, reflecting core business profitability. This is up 4.6 percentage points from the prior year.

Net Margin

8.1%

YoY+5.3pp

5Y CAGR+97.2pp

BORR DRILLING LTD's net profit margin was 8.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 5.3 percentage points from the prior year.

Return on Equity

8.3%

YoY+6.0pp

BORR DRILLING LTD's ROE was 8.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 6.0 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$19.9M

YoY+2387.5%

BORR DRILLING LTD spent $19.9M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 2387.5% from the prior year.

Capital Expenditures

N/A

BORR Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.0B+31.0%	$771.6M+73.9%	$443.8M+80.9%	$245.3M-20.2%	$307.5M-8.0%	$334.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$49.2M+9.1%	$45.1M+22.6%	$36.8M+6.1%	$34.7M-29.3%	$49.1M-2.6%	$50.4M
Operating Income	$374.2M+49.4%	$250.4M+345.7%	-$101.9M-15.4%	-$88.3M+53.0%	-$188.0M-24.7%	-$150.8M
Interest Expense	$194.7M+9.9%	$177.2M+27.3%	$139.2M+40.0%	$99.4M+13.7%	$87.4M+24.1%	$70.4M
Income Tax	$58.2M+71.2%	$34.0M+84.8%	$18.4M+89.7%	$9.7M-40.1%	$16.2M+44.6%	$11.2M
Net Income	$82.1M+271.5%	$22.1M+107.5%	-$292.8M-51.7%	-$193.0M+39.2%	-$317.6M-6.7%	-$297.6M
EPS (Diluted)	$0.32+255.6%	$0.09+105.5%	$-1.64-14.7%	$-1.43+66.1%	$-4.22+23.8%	$-5.54

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Revenue	$267.7M-1.5%	$271.9M	N/A	$187.5M	N/A	$105.3M	N/A	$54.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$12.3M+6.0%	$11.6M	N/A	$10.3M	N/A	$9.6M	N/A	$7.8M
Operating Income	$96.5M-7.7%	$104.5M	N/A	$59.9M	N/A	-$123.0M	N/A	-$26.0M
Interest Expense	$53.0M+11.1%	$47.7M	N/A	$38.4M	N/A	$30.5M	N/A	$23.9M
Income Tax	$4.8M-67.8%	$14.9M	N/A	$13.4M	N/A	$6.3M	N/A	-$1.0M
Net Income	$35.1M+10.7%	$31.7M	N/A	$800K	N/A	-$165.3M	N/A	-$59.9M
EPS (Diluted)	$0.14+16.7%	$0.12	N/A	$0.00	N/A	$-1.09	N/A	$-0.44

BORR Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$3.4B+11.0%	$3.1B+2.6%	$3.0B-2.6%	$3.1B-2.9%	$3.2B-3.3%	$3.3B
Current Assets	$516.6M+26.0%	$409.9M+17.1%	$349.9M+98.6%	$176.2M+25.1%	$140.8M-49.3%	$277.9M
Cash & Equivalents	$61.6M-39.9%	$102.5M-5.1%	$108.0M+209.5%	$34.9M+81.8%	$19.2M-67.5%	$59.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	$43.0M+50.9%	$28.5M+24.5%	$22.9M-43.0%	$40.2M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.4B+15.8%	$2.1B-0.4%	$2.1B-3.9%	$2.2B+2.6%	$2.1B+7.5%	$2.0B
Current Liabilities	$409.6M+13.7%	$360.4M-51.7%	$745.6M+532.4%	$117.9M+22.8%	$96.0M-61.6%	$249.7M
Long-Term Debt	$2.0B+23.1%	$1.6B+35.9%	$1.2B-37.8%	$1.9B+0.5%	$1.9B+11.5%	$1.7B
Total Equity	$993.3M+0.9%	$984.0M+9.6%	$897.8M+0.9%	$889.9M-14.2%	$1.0B-19.9%	$1.3B
Retained Earnings	-$1.3B+6.0%	-$1.4B+1.6%	-$1.4B-26.9%	-$1.1B-21.6%	-$895.2M-55.2%	-$576.7M

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Total Assets	$3.4B-2.0%	$3.4B+11.0%	$3.1B+2.8%	$3.0B-0.2%	$3.0B+0.4%	$3.0B-2.9%	$3.1B-2.0%	$3.1B
Current Assets	$468.3M-9.3%	$516.6M+26.0%	$409.9M+19.9%	$341.9M-2.3%	$349.9M+50.6%	$232.4M+31.9%	$176.2M+23.5%	$142.7M
Cash & Equivalents	$92.4M+50.0%	$61.6M-39.9%	$102.5M+22.3%	$83.8M-22.4%	$108.0M+263.6%	$29.7M-14.9%	$34.9M+7.7%	$32.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	$53.9M+25.3%	$43.0M+28.7%	$33.4M+17.2%	$28.5M-12.6%	$32.6M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.3B-3.6%	$2.4B+15.8%	$2.1B+0.3%	$2.1B-0.7%	$2.1B-7.7%	$2.3B+4.0%	$2.2B+0.8%	$2.2B
Current Liabilities	$367.1M-10.4%	$409.6M+13.7%	$360.4M-9.6%	$398.5M-46.6%	$745.6M-60.4%	$1.9B+1498.2%	$117.9M+21.0%	$97.4M
Long-Term Debt	$1.9B-3.0%	$2.0B+23.1%	$1.6B+5.0%	$1.5B+29.4%	$1.2B+322.7%	$281.8M-85.3%	$1.9B+0.3%	$1.9B
Total Equity	$1.0B+1.9%	$993.3M+0.9%	$984.0M+8.6%	$906.2M+0.9%	$897.8M+26.2%	$711.5M-20.0%	$889.9M-8.1%	$968.2M
Retained Earnings	-$1.3B+1.4%	-$1.3B+6.0%	-$1.4B+2.1%	-$1.4B-0.5%	-$1.4B-5.8%	-$1.3B-19.9%	-$1.1B-7.8%	-$1.0B

BORR Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$77.3M+252.5%	-$50.7M-181.1%	$62.5M+206.1%	-$58.9M-7.5%	-$54.8M+38.4%	-$89.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$409.4M-292.9%	-$104.2M-26.2%	-$82.6M-302.0%	$40.9M+134.2%	-$119.7M+55.8%	-$271.1M
Financing Cash Flow	$292.0M+110.1%	$139.0M+50.1%	$92.6M+106.7%	$44.8M-31.3%	$65.2M-83.6%	$397.3M
Dividends Paid	$76.3M	$0	$0	N/A	N/A	N/A
Share Buybacks	$19.9M+2387.5%	$800K	$0	$0	$0	$0

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Operating Cash Flow	$6.3M-60.6%	$16.0M	N/A	$2.4M	N/A	-$8.5M	N/A	-$10.9M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$13.4M0.0%	-$13.4M	N/A	-$15.9M	N/A	-$15.6M	N/A	-$5.7M
Financing Cash Flow	-$70.7M+22.4%	-$91.1M	N/A	-$161.4M	N/A	$3.6M	N/A	$0
Dividends Paid	$0-100.0%	$23.9M	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A

BORR Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	37.0%+4.6pp	32.5%+55.4pp	-23.0%+13.0pp	-36.0%+25.1pp	-61.1%-16.0pp	-45.1%
Net Margin	8.1%+5.3pp	2.9%+68.8pp	-66.0%+12.7pp	-78.7%+24.6pp	-103.3%-14.2pp	-89.1%
Return on Equity	8.3%+6.0pp	2.3%	N/A	N/A	N/A	N/A
Return on Assets	2.4%+1.7pp	0.7%+10.5pp	-9.8%-3.5pp	-6.3%+3.7pp	-10.0%-0.9pp	-9.1%
Current Ratio	1.26+0.1	1.14+0.7	0.47-1.0	1.49+0.0	1.47+0.4	1.11
Debt-to-Equity	2.01+0.4	1.65+0.3	1.33-0.8	2.15+0.3	1.84+0.5	1.32
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	36.0%-2.4pp	38.4%	N/A	31.9%	N/A	-116.8%	N/A	-47.4%
Net Margin	13.1%+1.4pp	11.7%	N/A	0.4%	N/A	-157.0%	N/A	-109.3%
Return on Equity	3.5%+0.3pp	3.2%	N/A	0.1%	N/A	N/A	N/A	N/A
Return on Assets	1.1%+0.1pp	1.0%	N/A	0.0%	N/A	-5.5%	N/A	-1.9%
Current Ratio	1.28+0.0	1.26+0.1	1.14+0.3	0.86+0.4	0.47+0.3	0.12-1.4	1.49+0.0	1.47
Debt-to-Equity	1.91-0.1	2.01+0.4	1.65-0.1	1.70+0.4	1.33+0.9	0.40-1.8	2.15+0.2	1.97
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is BORR DRILLING LTD's annual revenue?

BORR DRILLING LTD (BORR) reported $1.0B in total revenue for fiscal year 2024. This represents a 31.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is BORR DRILLING LTD's revenue growing?

BORR DRILLING LTD (BORR) revenue grew by 31% year-over-year, from $771.6M to $1.0B in fiscal year 2024.

Is BORR DRILLING LTD profitable?

Yes, BORR DRILLING LTD (BORR) reported a net income of $82.1M in fiscal year 2024, with a net profit margin of 8.1%.

What is BORR DRILLING LTD's earnings per share (EPS)?

BORR DRILLING LTD (BORR) reported diluted earnings per share of $0.32 for fiscal year 2024. This represents a 255.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is BORR DRILLING LTD's EBITDA?

BORR DRILLING LTD (BORR) had EBITDA of $505.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does BORR DRILLING LTD have?

As of fiscal year 2024, BORR DRILLING LTD (BORR) had $61.6M in cash and equivalents against $2.0B in long-term debt.

What is BORR DRILLING LTD's operating margin?

BORR DRILLING LTD (BORR) had an operating margin of 37.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is BORR DRILLING LTD's net profit margin?

BORR DRILLING LTD (BORR) had a net profit margin of 8.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is BORR DRILLING LTD's return on equity (ROE)?

BORR DRILLING LTD (BORR) has a return on equity of 8.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is BORR DRILLING LTD's operating cash flow?

BORR DRILLING LTD (BORR) generated $77.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are BORR DRILLING LTD's total assets?

BORR DRILLING LTD (BORR) had $3.4B in total assets as of fiscal year 2024, including both current and long-term assets.

Does BORR DRILLING LTD buy back shares?

Yes, BORR DRILLING LTD (BORR) spent $19.9M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does BORR DRILLING LTD have outstanding?

BORR DRILLING LTD (BORR) had 245M shares outstanding as of fiscal year 2024.

What is BORR DRILLING LTD's current ratio?

BORR DRILLING LTD (BORR) had a current ratio of 1.26 as of fiscal year 2024, which is considered adequate.

What is BORR DRILLING LTD's debt-to-equity ratio?

BORR DRILLING LTD (BORR) had a debt-to-equity ratio of 2.01 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is BORR DRILLING LTD's return on assets (ROA)?

BORR DRILLING LTD (BORR) had a return on assets of 2.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is BORR DRILLING LTD's Altman Z-Score?

BORR DRILLING LTD (BORR) has an Altman Z-Score of 0.60, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is BORR DRILLING LTD's Piotroski F-Score?

BORR DRILLING LTD (BORR) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are BORR DRILLING LTD's earnings high quality?

BORR DRILLING LTD (BORR) has an earnings quality ratio of 0.94x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can BORR DRILLING LTD cover its interest payments?

BORR DRILLING LTD (BORR) has an interest coverage ratio of 1.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is BORR DRILLING LTD?

BORR DRILLING LTD (BORR) scores 60 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.