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Seadrill Limited (SDRL) Financials

SDRL
Trailing 12 months to June 30, 2026
Revenue $1.5B +13.1% YoY
Net Income $1.0M -98.7% YoY
EPS (Diluted) -$1.24 FY2025 annual
Operating Cash Flow -$52.0M -44.4% YoY
Market Cap $2.9B as of Oct 10, 2026
Price / Sales 1.9x on $1.5B revenue, trailing 12 months to June 30, 2026
Price / Earnings n/m outside the range published as a multiple, on $1.0M net income, trailing 12 months to June 30, 2026
Price / Book 1.0x on $2.9B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SDRL SEC filings page.

Seadrill Limited (SDRL) reported $1.5B in revenue over the twelve months to Jun 30, 2026, up 13.1% from the prior twelve months. This page shows its 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).

Rhea AI SDRL FY2025

Seadrill’s 2025 downturn came from collapsing operating profitability and cash conversion, not from an increasingly leveraged balance sheet.

Revenue remained broadly stable from FY2024 to FY2025, yet operating margin compressed from 29.8% to 3.3%, showing that added activity did not translate into operating earnings. The shift from net profit to net loss coincided with operating cash flow moving from $88M to -$28M, so the 2025 deterioration reached cash generation rather than remaining an accounting-only change.

The margin reset without a comparable top-line decline points to cost structure or work mix absorbing economics; the reported figures do not identify which mechanism dominated.

Total liabilities were lower than FY2024, at $1.1B, while debt-to-equity remained 0.2x. A 2.0x current ratio further indicates that the immediate pressure is primarily operational and cash-related, rather than caused by rising financial leverage.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 38 / 100
Financial Health Score 38/100
Scored as: Energy peer group

Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Seadrill Limited's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
35

Seadrill Limited has an operating margin of 3.3%, meaning the company retains $3 of operating profit per $100 of revenue. This results in a moderate score of 35/100, indicating healthy but not exceptional operating efficiency. This is down from 29.8% the prior year.

Growth
39

Seadrill Limited's revenue grew a modest 3.8% year-over-year to $1.4B. This slow but positive growth earns a score of 39/100.

Leverage
47

Seadrill Limited has a moderate D/E ratio of 0.21. This balance of debt and equity financing earns a leverage score of 47/100.

Liquidity
72

With a current ratio of 2.03, Seadrill Limited holds $2.03 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 72/100.

Cash Flow
0

Not available for Seadrill Limited, and counted as zero in the overall score.

Returns
32

Seadrill Limited posts a -2.7% return on equity (ROE), meaning it loses $3 for every $100 of shareholders' equity. This results in a returns score of 32/100. This is down from 15.3% the prior year.

Altman Z-Score Grey Zone
2.42

Seadrill Limited scores 2.42, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($2.9B) relative to total liabilities ($1.1B). This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
3/8

Seadrill Limited passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality No Cash Backing
N/A

Seadrill Limited reported a net loss of $77.0M while operations used $28.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk
0.77x

Seadrill Limited earns $0.77 in operating income for every $1 of interest expense ($47.0M vs $61.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$449.0M
YoY+19.1%
QoQ+25.4%

Seadrill Limited generated $449.0M in revenue in Q2 2026. This represents an increase of 19.1% from the same quarter a year earlier. Against the prior quarter it is up 25.4%.

EBITDA
$144.0M
YoY+132.3%
QoQ+51.6%

Seadrill Limited's EBITDA was $144.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 132.3% from the same quarter a year earlier. Against the prior quarter it is up 51.6%.

Net Income
$29.0M
YoY+169.0%
QoQ+514.3%

Seadrill Limited reported $29.0M in net income in Q2 2026. This represents an increase of 169.0% from the same quarter a year earlier. Against the prior quarter it is up 514.3%.

EPS (Diluted)
$0.47
YoY+169.1%
QoQ+527.3%

Seadrill Limited earned $0.47 per diluted share (EPS) in Q2 2026. This represents an increase of 169.1% from the same quarter a year earlier. Against the prior quarter it is up 527.3%.

Cash & Balance Sheet

Cash & Debt
$337.0M
YoY-14.2%
QoQ+10.9%

Seadrill Limited held $337.0M in cash against $737.0M in long-term debt as of Q2 2026.

Shares Outstanding
63M
YoY+0.5%
QoQ0.0%

Seadrill Limited had 63M shares outstanding in Q2 2026. This represents an increase of 0.5% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Operating Margin
16.0%
YoY+14.4pp
QoQ+9.3pp

Seadrill Limited's operating margin was 16.0% in Q2 2026, reflecting core business profitability. This is up 14.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 9.3 percentage points.

Net Margin
6.5%
YoY+17.6pp
QoQ+8.4pp

Seadrill Limited's net profit margin was 6.5% in Q2 2026, showing the share of revenue converted to profit. This is up 17.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.4 percentage points.

Return on Equity
1.0%
YoY+2.5pp
QoQ+1.3pp

Seadrill Limited's ROE was 1.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.3 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

SDRL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SDRL quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$449.0M+19.1%$358.0M+6.9%$362.0M+25.3%$363.0M+2.5%$377.0M+0.5%$335.0M-8.7%$289.0M$354.0M
SG&A Expenses$29.0M+11.5%$25.0M+8.7%$27.0M-12.9%$27.0M0.0%$26.0M+8.3%$23.0M-8.0%$31.0M$27.0M
Operating Income$72.0M+1100.0%$24.0M+33.3%-$3.0M0.0%$26.0M-44.7%$6.0M-97.9%$18.0M-77.5%-$3.0M$47.0M
EBITDA$144.0M+132.3%$95.0M+30.1%$66.0M+57.1%$84.0M-5.6%$62.0M-81.3%$73.0M-38.1%$42.0M$89.0M
Interest Expense$16.0M+6.7%$15.0M0.0%$16.0M+6.7%$15.0M0.0%$15.0M-6.3%$15.0M0.0%$15.0M$15.0M
Income Tax$12.0M-58.6%$23.0M+53.3%-$29.0M+78.2%$11.0M+57.1%$29.0M+866.7%$15.0M+50.0%-$133.0M$7.0M
Net Income$29.0M+169.0%-$7.0M+50.0%-$10.0M-109.9%-$11.0M-134.4%-$42.0M-116.6%-$14.0M-123.3%$101.0M$32.0M
EPS (Basic)$0.47+169.1%-$0.11+52.2%N/A-$0.17-134.7%-$0.68-118.8%-$0.23-127.7%$1.59$0.49
EPS (Diluted)$0.47+169.1%-$0.11+52.2%N/A-$0.17-134.7%-$0.68-119.5%-$0.23-128.4%$1.55$0.49
Diluted Shares (Avg)65M0.0%65M0.0%N/A65M-7.1%65M-11.0%65M-13.3%N/A70M

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

SDRL Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SDRL quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$4.1B+0.9%$4.0B-1.7%$3.9B-5.0%$4.1B$4.1B-5.3%$4.1B$4.2B-1.5%N/A
Current Assets$920.0M+11.8%$811.0M+1.2%$758.0M-18.3%$830.0M$823.0M-36.1%$801.0M$928.0M-19.9%N/A
Cash & Equivalents$337.0M-14.2%$304.0M-24.8%$339.0M-29.1%$402.0M-32.1%$393.0M-52.9%$404.0M-34.0%$478.0M-31.4%$592.0M
Short-Term Investments$0$0$0$0$0$0$0$0
Accounts Receivable$311.0M+62.0%$214.0M+49.7%$162.0M-16.1%$179.0M$192.0M$143.0M$193.0M-13.1%N/A
Long-Term Investments$0$0$0$0$0$0$0$0
Total Liabilities$1.2B+3.6%$1.1B-1.2%$1.1B-12.0%$1.2B$1.2B-3.2%$1.2B$1.2B+0.2%N/A
Current Liabilities$368.0M-16.6%$417.0M+4.5%$374.0M-25.3%$439.0M$441.0M+9.2%$399.0M$501.0M+28.8%N/A
Non-Current Liabilities$874.0M+15.3%$724.0M-4.2%$715.0M-3.0%$763.0M$758.0M-9.1%$756.0M$737.0M-12.9%N/A
Long-Term Debt$737.0M+20.4%$614.0M+0.5%$613.0M+0.5%$612.0M$612.0M+0.5%$611.0M$610.0M+0.3%N/A
Total Equity$2.9B-0.2%$2.9B-2.0%$2.9B-2.1%$2.9B-1.6%$2.9B-6.1%$2.9B-0.6%$2.9B-2.2%$2.9B
Retained Earnings$892.0M+0.1%$863.0M-7.5%$870.0M-8.1%$880.0M$891.0M+9.5%$933.0M$947.0M+89.0%N/A

Not reported in any period shown, so not listed: Inventory, Goodwill.

SDRL Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SDRL quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow-$18.0M-263.6%-$22.0M+18.5%-$40.0M-671.4%$28.0M+203.7%$11.0M-86.1%-$27.0M-193.1%$7.0M-$27.0M
Depreciation & Amortization$72.0M+28.6%$71.0M+29.1%$69.0M+53.3%$58.0M+38.1%$56.0M+30.2%$55.0M+44.7%$45.0M$42.0M
Stock-Based CompensationN/A$1.0M-75.0%N/AN/AN/A$4.0M+33.3%N/AN/A
Investing Cash Flow-$25.0M-8.7%-$13.0M+73.5%-$22.0M-414.3%-$19.0M+64.2%-$23.0M-107.8%-$49.0M-113.0%$7.0M-$53.0M
Financing Cash Flow$74.0M-$1.0M-$3.0M+97.0%$0+100.0%$0+100.0%$0+100.0%-$101.0M-$190.0M
Share BuybacksN/AN/A$0-100.0%$0-100.0%$0-100.0%$0-100.0%$101.0M$190.0M

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.

SDRL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SDRL quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Margin16.0%+14.4pp6.7%+1.3pp-0.8%+0.2pp7.2%-6.1pp1.6%-75.2pp5.4%-16.4pp-1.0%13.3%
Net Margin6.5%+17.6pp-2.0%+2.2pp-2.8%-37.7pp-3.0%-12.1pp-11.1%-78.6pp-4.2%-20.5pp34.9%9.0%
Return on Equity1.0%+2.5pp-0.3%+0.2pp-0.3%-3.8pp-0.4%-1.5pp-1.5%-9.7pp-0.5%-2.5pp3.5%1.1%
Return on Assets0.7%+1.7pp-0.2%+0.2pp-0.3%-2.7pp-0.3%-1.0%-6.9pp-0.3%2.4%N/A
Current Ratio2.50+0.6x1.94-0.1x2.03+0.2x1.891.87-1.3x2.011.85-1.1xN/A
Debt-to-Equity0.260.0x0.220.0x0.210.0x0.210.210.0x0.210.210.0xN/A
Asset Turnover0.110.0x0.090.0x0.090.0x0.090.090.0x0.080.07N/A

Not reported in any period shown, so not listed: Gross Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Seadrill Limited SDRL FY2025 $1.4B -$77.0M -5.4% $2.9B 38/100
Patterson-UTI Energy Inc PTEN FY2025 $4.8B -$93.1M -1.9% $4.3B 49/100
Helmerich & Payne, Inc. HP FY2025 $3.7B -$163.7M -4.4% $4.0B 50/100
Sable Offshore Corp. SOC FY2025 $0 -$410.2M N/A $713.8M —
Transocean LTD. RIG FY2025 $4.0B -$2.9B -73.5% $6.2B 47/100
Noble Corporation plc NE FY2025 $3.3B $216.7M 6.6% $6.8B 52/100

Frequently Asked Questions

What is Seadrill Limited's annual revenue?

Seadrill Limited (SDRL) reported $1.4B in total revenue for fiscal year 2025. This represents a 3.8% 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 Seadrill Limited's revenue growing?

Seadrill Limited (SDRL) revenue grew by 3.8% year-over-year, from $1.4B to $1.4B in fiscal year 2025.

Is Seadrill Limited profitable?

No, Seadrill Limited (SDRL) reported a net income of -$77.0M in fiscal year 2025, with a net profit margin of -5.4%.

Seadrill Limited (SDRL) reported diluted earnings per share of -$1.24 for fiscal year 2025. This represents a -119.5% 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.

Seadrill Limited (SDRL) had EBITDA of $285.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Seadrill Limited (SDRL) had $339.0M in cash and equivalents against $613.0M in long-term debt.

Seadrill Limited (SDRL) had an operating margin of 3.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Seadrill Limited (SDRL) had a net profit margin of -5.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Seadrill Limited (SDRL) has a return on equity of -2.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Seadrill Limited (SDRL) recorded an outflow of $28.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

Seadrill Limited (SDRL) had $3.9B in total assets as of fiscal year 2025, including both current and long-term assets.

Seadrill Limited (SDRL) had 62M shares outstanding as of fiscal year 2025.

Seadrill Limited (SDRL) had a current ratio of 2.03 as of fiscal year 2025, which is generally considered healthy.

Seadrill Limited (SDRL) had a debt-to-equity ratio of 0.21 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Seadrill Limited (SDRL) had a return on assets of -1.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Seadrill Limited (SDRL) has no price-to-earnings ratio at the moment: outside the range published as a multiple (on $1.0M net income, trailing 12 months to June 30, 2026). The market capitalization is $2.9B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Seadrill Limited (SDRL) trades at 1.9x sales, its market capitalization divided by revenue of $1.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.9B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Seadrill Limited (SDRL) has an Altman Z-Score of 2.42, placing it in the Grey Zone (moderate 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.

Seadrill Limited (SDRL) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Seadrill Limited (SDRL) reported a net loss of $77.0M while operations used $28.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.

Seadrill Limited (SDRL) has an interest coverage ratio of 0.77x, 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.

Seadrill Limited (SDRL) scores 38 out of 100 on our Financial Health Score, indicating weak standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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