VAL · Valaris Ltd - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $465.40M | - | $595.70M | $615.20M | $620.70M | - | $643.10M | $610.10M | $525.00M | - |
| Cost of Revenue | $373.40M | - | $405.60M | $395.70M | $415.00M | - | $462.10M | $438.70M | $444.80M | - |
| Gross Profit | $92.00M | - | $190.10M | $219.50M | $205.70M | - | $181.00M | $171.40M | $80.20M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $25.30M | - | $26.90M | $18.80M | $24.40M | - | $30.60M | $32.50M | $26.50M | - |
| Total Operating Expenses | $452.20M | - | $469.60M | $450.00M | $480.30M | - | $524.40M | $500.90M | $498.10M | - |
| D&A | - | - | - | - | - | - | - | - | - | - |
| Operating Income | $20.00M | - | $130.50M | $164.10M | $143.00M | - | $94.90M | $108.90M | $29.30M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $28.40M | - | $28.60M | $31.50M | $193.50M | - | $24.30M | ($30.00M) | $12.90M | - |
| Net Income | ($16.40M) | - | $188.10M | $115.10M | ($37.90M) | - | $64.60M | $149.60M | $25.50M | - |
| EPS - Basic | ($0.24) | - | $2.66 | $1.62 | ($0.53) | - | $0.89 | $2.07 | $0.35 | - |
| EPS - Diluted | ($0.24) | - | $2.65 | $1.61 | ($0.53) | - | $0.88 | $2.03 | $0.35 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $578.30M | $599.40M | $662.70M | $503.40M | $441.40M | $368.20M | $379.30M | $398.30M | $494.10M | $620.50M |
| Accounts Receivable | $447.90M | $474.80M | $513.70M | $554.20M | $557.70M | $571.20M | $555.80M | $631.70M | $510.90M | $459.30M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $398.50M | $348.20M | $327.10M | $332.30M | $329.30M | $328.50M | $303.70M | $347.00M | $394.20M | $400.10M |
| Current Assets | $1.20B | $1.23B | $1.34B | $1.23B | $1.16B | $1.08B | $1.11B | $1.22B | $1.20B | $1.27B |
| Total Assets | $5.36B | $5.30B | $4.64B | $4.50B | $4.39B | $4.42B | $4.33B | $4.42B | $4.35B | $4.32B |
| Current Liabilities | $777.70M | $691.60M | $718.00M | $678.70M | $694.60M | $679.50M | $692.30M | $707.60M | $760.70M | $744.30M |
| Long-term Debt | $1.09B | $1.09B | $1.09B | $1.08B | $1.08B | $1.08B | $1.08B | $1.08B | $1.08B | $1.08B |
| Total Liabilities | $2.20B | $2.13B | $2.19B | $2.17B | $2.18B | $2.18B | $2.21B | $2.23B | $2.32B | $2.33B |
| Stockholders' Equity | $3.16B | $3.17B | $2.45B | $2.33B | $2.21B | $2.24B | $2.11B | $2.18B | $2.02B | $1.99B |
| Retained Earnings | $2.37B | $2.38B | $1.66B | $1.48B | $1.36B | $1.40B | $1.27B | $1.20B | $1.05B | $1.03B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $75.00M | - | - | - | $155.90M | - | - | - | $26.30M | - |
| Investing Cash Flow | ($95.70M) | - | - | - | ($82.40M) | - | - | - | ($151.30M) | - |
| Financing Cash Flow | ($1.40M) | - | - | - | ($300.0K) | - | - | - | ($1.60M) | - |
| CapEx | $100.90M | - | - | - | $100.20M | - | - | - | $151.30M | - |
| Free Cash Flow | ($25.90M) | - | - | - | $55.70M | - | - | - | ($125.00M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 19.8% | - | 31.9% | 35.7% | 33.1% | - | 28.1% | 28.1% | 15.3% | - |
| Operating margin | 4.3% | - | 21.9% | 26.7% | 23.0% | - | 14.8% | 17.8% | 5.6% | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | -3.5% | - | 31.6% | 18.7% | -6.1% | - | 10.0% | 24.5% | 4.9% | - |
| Free cash flow margin | -5.6% | - | - | - | 9.0% | - | - | - | -23.8% | - |
| FCF / Net income | 1.58 | - | - | - | -1.47 | - | - | - | -4.90 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 5.4% | - | 4.5% | 3.1% | 3.9% | - | 4.8% | 5.3% | 5.0% | - |
| Effective tax rate | 236.7% | - | 13.2% | 21.5% | 124.4% | - | 27.3% | -25.1% | 33.6% | - |
| Return on assets | -0.3% | - | 4.1% | 2.6% | -0.9% | - | 1.5% | 3.4% | 0.6% | - |
| Return on equity | -0.5% | - | 7.7% | 4.9% | -1.7% | - | 3.1% | 6.9% | 1.3% | - |
| Return on invested capital | 0.2% | - | 3.2% | 3.8% | 2.2% | - | 2.2% | 3.3% | 0.6% | - |
| Liquidity | ||||||||||
| Current ratio | 1.55 | 1.77 | 1.87 | 1.81 | 1.67 | 1.59 | 1.61 | 1.73 | 1.57 | 1.71 |
| Quick ratio | 1.55 | 1.77 | 1.87 | 1.81 | 1.67 | 1.59 | 1.61 | 1.73 | 1.57 | 1.71 |
| Cash ratio | 0.74 | 0.87 | 0.92 | 0.74 | 0.64 | 0.54 | 0.55 | 0.56 | 0.65 | 0.83 |
| Leverage | ||||||||||
| Debt / Equity | 0.34 | 0.34 | 0.44 | 0.47 | 0.49 | 0.48 | 0.51 | 0.50 | 0.53 | 0.54 |
| Debt / Assets | 0.20 | 0.20 | 0.23 | 0.24 | 0.25 | 0.24 | 0.25 | 0.24 | 0.25 | 0.25 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.70 | 1.67 | 1.89 | 1.93 | 1.99 | 1.97 | 2.05 | 2.03 | 2.15 | 2.17 |
| Liabilities / Assets | 0.41 | 0.40 | 0.47 | 0.48 | 0.50 | 0.49 | 0.51 | 0.50 | 0.53 | 0.54 |
| Efficiency | ||||||||||
| Asset turnover | 0.09 | - | 0.13 | 0.14 | 0.14 | - | 0.15 | 0.14 | 0.12 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 351d | - | 315d | 329d | 328d | - | 315d | 378d | 355d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 390d | - | 294d | 307d | 290d | - | 240d | 289d | 323d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 18.4x | 26.2x | - | - | 63.4x | 36.7x | 215.0x | - |
| P / B | 2.1x | - | 1.4x | 1.3x | 1.3x | - | 1.9x | 2.5x | 2.7x | - |
| P / S | 14.6x | - | 5.8x | 4.9x | 4.5x | - | 6.3x | 9.0x | 10.6x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -25.0% | - | -7.4% | 0.8% | 18.2% | - | 41.3% | 46.9% | 22.1% | - |
| Revenue CAGR (3y) | 2.7% | - | 10.9% | 14.2% | 24.9% | - | 25.3% | 44.4% | 19.6% | - |
| Revenue CAGR (5y) | 8.7% | - | - | 16.6% | - | - | 3.1% | 0.9% | 5.3% | - |
| Gross profit growth (YoY) | -55.3% | - | 5.0% | 28.1% | 156.5% | - | 181.9% | 221.0% | 51.6% | - |
| Operating income growth (YoY) | -86.0% | - | 37.5% | 50.7% | 388.1% | - | 471.7% | - | 244.7% | - |
| Net income growth (YoY) | 56.7% | - | 191.2% | -23.1% | - | - | 400.8% | - | -45.4% | - |
| EPS growth (YoY) | 54.7% | - | 201.1% | -20.7% | - | - | 417.6% | - | -42.6% | - |
| EPS CAGR (3y) | - | - | 39.3% | 2.8% | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 43.2% | 41.6% | 15.7% | 7.0% | 9.2% | 12.6% | 78.6% | 73.6% | 50.6% | 54.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$3.48B totalFloaters$1.26B · 36.3%
Jackups$912.80M · 26.2%
Jackups Member$912.80M · 26.2%
ARO$571.00M · 16.4%
All Other Segments$195.60M · 5.6%
Managed Rigs$195.60M · 5.6%
Reconciling Items($571.00M) · -16.4%
Geographic
$1.65B totalBR$587.30M · 35.5%
GB$391.80M · 23.7%
Gulf Of America$223.30M · 13.5%
AO$219.50M · 13.3%
AU$145.90M · 8.8%
Other Geographic Areas$84.60M · 5.1%
Peer comparison
Same SIC group: Drilling Oil & Gas Wells
Comparing Valaris Ltd against the 5 most active filers in the same SIC group.