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Borr Drilling vs Valaris: revenue, profit, margins and growth compared

Borr Drilling brought in $1B of revenue in fiscal 2025, Valaris $2.4B in fiscal 2025. Revenue changed by +1.0% at Borr Drilling and +0.3% at Valaris on the year before, so Borr Drilling grew faster. Borr Drilling kept 4.4% of its revenue as net profit, Valaris 41.5%.

Side by side, latest fiscal year

BORRVAL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1B$2.4B
Revenue growth+1.0%+0.3%
Net income$45M$982.8M
Net margin4.4%41.5%
Free cash flown/a$202.7M
Free cash flow marginn/a8.6%
Earnings per share (diluted)$0.17$13.86
Cash$379.7M$599.4M
Debt$2B$1.1B
Price to earningsn/a5.8
Market value$1.3B$5.6B
Dividend yieldn/an/a
Rank by revenue in sector#80 of 129 · Energy#52 of 129 · Energy

Over the years

Revenue
BORR FY2019: $164.9MBORR FY2019: $334.1MBORR FY2020: $307.5MBORR FY2021: $245.3MBORR FY2022: $443.8MBORR FY2023: $771.6MBORR FY2024: $1BBORR FY2025: $1BVAL FY2017: $1.8BVAL FY2018: $1.7BVAL FY2019: $2.1BVAL FY2020: $1.4BVAL FY2022: $1.6BVAL FY2023: $1.8BVAL FY2024: $2.4BVAL FY2025: $2.4BFY17FY18FY19FY20FY21FY22FY23FY24FY25
BORR $1BVAL $2.4B
Net income
BORR FY2019: -$190.5MBORR FY2019: -$297.6MBORR FY2020: -$317.6MBORR FY2021: -$193MBORR FY2022: -$292.8MBORR FY2023: $22.1MBORR FY2024: $82.1MBORR FY2025: $45MVAL FY2017: -$303.7MVAL FY2018: -$639.7MVAL FY2019: -$198MVAL FY2020: -$4.9BVAL FY2022: $176.5MVAL FY2023: $865.4MVAL FY2024: $373.4MVAL FY2025: $982.8MFY17FY18FY19FY20FY21FY22FY23FY24FY25
BORR $45MVAL $982.8M
Net margin
BORR FY2019: -115.5%BORR FY2019: -89.1%BORR FY2020: -103.3%BORR FY2021: -78.7%BORR FY2022: -66.0%BORR FY2023: 2.9%BORR FY2024: 8.1%BORR FY2025: 4.4%VAL FY2017: -16.5%VAL FY2018: -37.5%VAL FY2019: -9.6%VAL FY2020: -340.2%VAL FY2022: 11.0%VAL FY2023: 48.5%VAL FY2024: 15.8%VAL FY2025: 41.5%FY17FY18FY19FY20FY21FY22FY23FY24FY25
BORR 4.4%VAL 41.5%
Revenue growth
BORR FY2019: +102.6%BORR FY2020: -8.0%BORR FY2021: -20.2%BORR FY2022: +80.9%BORR FY2023: +73.9%BORR FY2024: +31.0%BORR FY2025: +1.0%VAL FY2018: -7.5%VAL FY2019: +20.4%VAL FY2020: -30.5%VAL FY2023: +11.3%VAL FY2024: +32.4%VAL FY2025: +0.3%FY18FY19FY20FY21FY22FY23FY24FY25
BORR +1.0%VAL +0.3%
Free cash flow
VAL FY2017: -$277.3MVAL FY2018: -$482.4MVAL FY2019: -$503.9MVAL FY2020: -$345.5MVAL FY2022: -$80MVAL FY2023: -$428.6MVAL FY2024: -$99.7MVAL FY2025: $202.7MFY17FY18FY19FY20FY22FY23FY24FY25
BORRVAL $202.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Borr Drilling and Valaris

Which is bigger by revenue, Borr Drilling or Valaris?

Valaris is bigger by revenue: $2.4B in fiscal 2025, against $1B for Borr Drilling in fiscal 2025.

Which keeps more of its revenue as profit, Borr Drilling or Valaris?

Borr Drilling had a net margin of 4.4% in fiscal 2025; Valaris had 41.5% in fiscal 2025.

Which grew revenue faster, Borr Drilling or Valaris?

In their latest fiscal years revenue changed by +1.0% at Borr Drilling and +0.3% at Valaris.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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