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Borr Drilling
(NYSE:BORR)
Borr Drilling (BORR) vs. SPDR S&P 500 ETF (SPY)
Borr Drilling Business Overview & Revenue Model
Borr Drilling Earnings Call Summary
Borr Drilling Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.02B | 1.01B | 771.60M | 443.80M | 245.30M | 307.50M |
| Gross Profit | 750.10M | 879.40M | 654.20M | 327.30M | 125.70M | 189.60M |
| EBITDA | 479.40M | 473.00M | 331.90M | -32.50M | 29.20M | -96.10M |
| Net Income | 75.30M | 82.10M | 22.10M | -292.80M | -193.00M | -317.60M |
Balance Sheet | ||||||
| Total Assets | 3.52B | 3.42B | 3.08B | 3.00B | 3.08B | 3.17B |
| Cash, Cash Equivalents and Short-Term Investments | 228.80M | 61.60M | 102.50M | 108.00M | 34.90M | 19.20M |
| Total Debt | 2.06B | 2.11B | 1.70B | 1.60B | 1.92B | 1.91B |
| Total Liabilities | 2.38B | 2.43B | 2.10B | 2.10B | 2.19B | 2.13B |
| Stockholders Equity | 1.14B | 993.30M | 984.00M | 897.80M | 889.90M | 1.04B |
Cash Flow | ||||||
| Free Cash Flow | -58.44M | -332.10M | -164.70M | -20.80M | -77.80M | -97.10M |
| Operating Cash Flow | 205.20M | 77.30M | -50.70M | 62.50M | -58.90M | -54.70M |
| Investing Cash Flow | -263.63M | -409.40M | -104.20M | -82.60M | 40.90M | -119.80M |
| Financing Cash Flow | 105.83M | 292.00M | 139.00M | 92.60M | 44.80M | 65.20M |
Borr Drilling Technical Analysis
Borr Drilling Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $928.08M | 22.34 | 2.71% | ― | -1.95% | 530.91% | |
69 Neutral | $760.82M | 5.41 | 47.77% | ― | 6.52% | ― | |
68 Neutral | $1.23B | 13.59 | 7.08% | 5.99% | 5.83% | -11.86% | |
66 Neutral | $2.04B | 65.66 | 1.18% | ― | -9.31% | -91.57% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
60 Neutral | $4.44B | -1.24 | -32.05% | ― | 16.93% | -335.82% | |
56 Neutral | $2.24B | -16.74 | -4.00% | 5.42% | -16.59% | 83.95% |
Borr Drilling Corporate Events
On December 9, 2025, Borr Drilling Limited announced the pricing of its public offering of 21 million common shares at $4.00 per share, raising $84 million. The proceeds are intended for acquiring five premium jack-up rigs and general corporate purposes. The company is also in the process of listing its shares on the Euronext Growth Oslo, with trading expected to begin on December 19, 2025, as part of its strategy to re-list on the Oslo Stock Exchange. This move is anticipated to enhance Borr Drilling’s market presence and provide greater flexibility for stakeholders.
On December 9, 2025, Borr Drilling Limited announced the pricing of an additional offering of 10.375% senior secured notes due 2030, amounting to approximately $165 million. The proceeds from this offering, along with funds from a previous equity offering and seller financing, are intended for the acquisition of five premium jack-up rigs and general corporate purposes, including debt service and potential mergers and acquisitions. This strategic move is expected to enhance Borr Drilling’s operational capabilities and market position in the offshore drilling sector.
On December 8, 2025, Borr Drilling Limited announced a public offering of 21 million common shares to raise approximately $85 million. The funds will be used for acquiring five premium jack-up rigs and general corporate purposes, including debt service and potential mergers. The company is also planning to list its shares on the Euronext Growth Oslo, with trading expected to commence on December 19, 2025, marking a step towards re-listing on the Oslo Stock Exchange. This move is anticipated to strengthen Borr Drilling’s market position and provide additional liquidity for stakeholders.
On December 8, 2025, Borr Drilling Limited announced an agreement to acquire five premium jack-up rigs from Noble Corporation for $360 million. This acquisition, expected to close in Q1 2026, will expand Borr Drilling’s fleet from 24 to 29 rigs, enhancing its position as a leading owner of young premium jack-up rigs. The acquisition is strategically timed with rising demand in the jack-up rig market and is anticipated to be immediately accretive to the company’s Adjusted EBITDA. Additionally, Borr Drilling has initiated steps to list its shares on the Euronext Growth Oslo as part of a strategy to re-list on the Oslo Stock Exchange, driven by strong investor interest.
On November 6, 2025, Borr Drilling Limited announced its third quarter 2025 results, which were presented in a webcast and conference call. The presentation provided insights into the company’s operational performance and financial standing, potentially impacting its market positioning and stakeholder interests.
Borr Drilling Limited announced its third-quarter 2025 results, reporting a 4% increase in total operating revenues to $277.1 million and a 2% rise in adjusted EBITDA to $135.6 million. Despite a 21% decrease in net income, the company secured 22 new contract commitments, enhancing its market position. The company also announced contract extensions in Mexico and new commitments in the Gulf of America and Angola, reflecting its strategic focus on expanding its market footprint and maintaining high utilization rates. The company anticipates a tightening market with higher utilization and day rates, driven by increased demand in major markets like Saudi Arabia and Mexico.
Borr Drilling Limited has released its unaudited interim financial report for the nine months ending September 30, 2025, highlighting significant financial and operational developments. The company completed a public offering in July 2025, issuing 50 million shares at $2.05 each, raising $102.5 million in gross proceeds. Additionally, Borr Drilling amended its super senior revolving credit facility and senior secured revolving credit facility agreements on September 25, 2025, involving key financial institutions such as DNB Bank ASA and Goldman Sachs Bank USA. These financial maneuvers are aimed at enhancing liquidity and financial stability, potentially impacting its market positioning and stakeholder confidence.
Borr Drilling Limited announced on October 27, 2025, that it has secured contract extensions for three of its premium jack-up rigs, Galar, Gersemi, and Njord. The extensions, valued at approximately $213 million, include improved commercial terms and options for further extension. Additionally, the company reported receiving $19 million in payments for its operations with Pemex in Mexico, indicating a positive trend towards the normalization of payment activities.
On October 24, 2025, Borr Drilling Limited announced the termination of two drilling contracts due to international sanctions affecting a counterparty. The contracts for the rigs Odin and Hild in Mexico, which were set to last until November 2025 and March 2026 respectively, were impacted. This decision underscores the company’s dedication to compliance with international regulations, potentially affecting its operations and stakeholder relations.
Borr Drilling Limited announced plans to release its financial results for the third quarter of 2025 on November 5, 2025, after the New York Stock Exchange closes. A conference call and webcast are scheduled for November 6, 2025, to discuss the results, which will be accessible via the company’s website. This announcement is part of Borr Drilling’s ongoing efforts to maintain transparency with stakeholders and provide insights into its financial health and operational performance.