Borr Drilling Ltd
BORR · Drilling Oil & Gas Wells · EDGAR filings ↗
Grade
C63Premium jack-up driller with strong operating margins and liquidity but thin bottom-line returns, heavy debt maturities, and suspended dividends.
Strengths
- Operating margin 31.6% (88.9th pct) and current/quick ratio 2.19 (90th pct)
- Contracted fleet expanding via Noble five-rig acquisition; net income growth ranks 81.8th pct in sector
Risks
- ROA only ~1.2% absolute and net margin 4.4%; earnings consumed by interest in a highly leveraged structure
- Significant near-term debt maturities, dividends cut to zero in 2025, and a cyclical/oversupply-prone jack-up market
Notable findings
- Strong balance sheetStrong balance sheet — $380M cash & investments
Key metrics
Operating margin
31.6%
Net margin
4.4%
Return on assets
1.2%
Revenue growth (QoQ)
1.0%
Net-income growth
-45.2%
Current ratio
2.2×
Cash & investments
$380M
Stock comp / revenue
1.1%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-26 | 2025-12-31 | 0001628280-26-021450 ↗ |
| 20-F | 2025-03-25 | 2024-12-31 | 0001628280-25-014602 ↗ |
| 20-F | 2024-03-27 | 2023-12-31 | 0001628280-24-013209 ↗ |
| 20-F | 2023-03-30 | 2022-12-31 | 0001628280-23-009769 ↗ |
| 20-F | 2022-04-11 | 2021-12-31 | 0001628280-22-008881 ↗ |
| 20-F | 2021-04-30 | 2020-12-31 | 0001628280-21-008274 ↗ |
| 20-F | 2020-06-16 | 2019-12-31 | 0001140361-20-013837 ↗ |