BORR (Borr Drilling Limited) Stock Financials & Earnings | Market Cap Arena

BORR (Borr Drilling Limited) Stock Financials & Earnings | Market Cap Arena

BORRBorr Drilling Limited

Mkt Cap$1B

Energy·Oil & Gas Drilling·🇧🇲 Bermuda·NYSE

Revenue (TTM)$1.0B

Net Income (TTM)$48M

EPS (TTM)$0.16

Free Cash Flow (TTM)$127M

Gross Margin59.2%

Op. Margin31.6%

Net Margin4.7%

FCF Margin12.5%

P/S Ratio (TTM)1.4x

P/E Ratio (TTM)29.5x

YoY Rev Growth+1.0%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$172M	$144M	$46M
Q2 23	$188M	$160M	$60M
Q3 23	$192M	$161M	$64M
Q4 23	$221M	$190M	$81M
Q1 24	$234M	$202M	$85M
Q2 24	$272M	$240M	$105M
Q3 24	$242M	$210M	$84M
Q4 24	$263M	$227M	$101M
Q1 25	$217M	$181M	$60M
Q2 25	$268M	$231M	$97M
Q3 25	$277M	$111M	$98M
Q4 25	$259M	$82M	$67M

Valuation

Quarter	P/S	P/E
Q1 23	2.7x	—
Q2 23	2.3x	—
Q3 23	2.0x	—
Q4 23	1.8x	64.1x
Q1 24	1.7x	32.3x
Q2 24	1.5x	18.9x
Q3 24	1.5x	16.8x
Q4 24	1.4x	17.2x
Q1 25	1.4x	27.9x
Q2 25	1.4x	26.1x
Q3 25	1.4x	18.8x
Q4 25	1.4x	29.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$8M	-$37M
Q2 23	$2M	-$23M
Q3 23	$35M	$11M
Q4 23	-$82M	-$120M
Q1 24	$24M	$5M
Q2 24	$16M	$3M
Q3 24	$48M	-$139M
Q4 24	-$15M	-$205M
Q1 25	$139M	$114M
Q2 25	$6M	-$7M
Q3 25	$75M	$40M
Q4 25	$34M	-$19M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$29M
Q2 23	$26M
Q3 23	$24M
Q4 23	$38M
Q1 24	$19M
Q2 24	$13M
Q3 24	$187M
Q4 24	$190M
Q1 25	$25M
Q2 25	$13M
Q3 25	$35M
Q4 25	$53M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+109.8%	+33.6%
Q2 23	+78.1%	-44.1%
Q3 23	+77.5%	+22.8%
Q4 23	+48.5%	+17.5%
Q1 24	+36.0%	+18.3%
Q2 24	+45.0%	+31.2%
Q3 24	+26.2%	+23.6%
Q4 24	+19.3%	+15.9%
Q1 25	-7.4%	+5.0%
Q2 25	-1.5%	+2.3%
Q3 25	+14.7%	+13.3%
Q4 25	-1.4%	+18.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$1M	0.8%
Q2 23	$1M	0.7%
Q3 23	$1M	0.7%
Q4 23	$2M	0.8%
Q1 24	$2M	0.8%
Q2 24	$2M	0.7%
Q3 24	$3M	1.0%
Q4 24	$3M	1.1%
Q1 25	$3M	1.6%
Q2 25	$3M	1.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	SG&A
Q1 23	$12M	—
Q2 23	$10M	—
Q3 23	$12M	—
Q4 23	$11M	—
Q1 24	$13M	—
Q2 24	$12M	—
Q3 24	$12M	—
Q4 24	$12M	—
Q1 25	$11M	—
Q2 25	$12M	—
Q3 25	—	$13M
Q4 25	—	$14M

Revenue by Geography

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$90M	$0	$90M
Q2 23	$84M	$0	$84M
Q3 23	$95M	$0	$95M
Q4 23	$103M	$0	$103M
Q1 24	$283M	$0	$283M
Q2 24	$194M	$2M	$195M
Q3 24	$186M	$0	$186M
Q4 24	$62M	$0	$62M
Q1 25	$170M	$0	$170M
Q2 25	$92M	$0	$92M
Q3 25	$229M	$0	$229M
Q4 25	$381M	$0	$381M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	235M	+2.6%
Q2 23	249M	+6.0%
Q3 23	250M	+0.5%
Q4 23	290M	+15.7%
Q1 24	257M	-11.4%
Q2 24	288M	+12.4%
Q3 24	255M	-11.6%
Q4 24	285M	+11.9%
Q1 25	243M	-14.7%
Q2 25	274M	+12.5%
Q3 25	312M	+13.8%
Q4 25	291M	-6.6%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 16	—	—
FY 17	—	—
FY 18	—	—
FY 19	$481K	694
FY 20	$736K	418
FY 21	$123M	2
FY 22	$222M	2
FY 23	$386M	2
FY 24	$505M	2
FY 25	$510M	2