BORR on NYSE
Borr Drilling Ltd
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
31.6%Operating margin2
4.4%Net margin2
1.0%Revenue growth, 20252
3.7%Return on equity2
1.65×Debt to equity2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Regions
South East Asia brought in 29% of the revenue Borr Drilling Ltd broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| South East Asia | $233.0M | $285.9M | $295.8M |
| West Africa | $168.6M | $187.8M | $279.1M |
| Americas | $191.2M | $289.6M | $226.4M |
| Middle East And North Africa | $147.8M | $210.9M | $176.6M |
| Europe | $31.0M | $36.4M | $42.9M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs92¢$934.9M
- Income tax4¢$40.9M
- Profit4¢$45.0M
Out of $1.0B in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Dividends paid2¢$4.7M
- Share buybacks0¢$200.0K
- Kept or used elsewhere98¢$247.0M
Out of $251.9M of cash from operations.2
Financial statements
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total operating revenues | $1.0B | $1.0B | $771.6M |
| Gain on disposals | $300.0K | $400.0K | $600.0K |
| Rig operating and maintenance expenses | -$500.6M | -$456.4M | -$359.3M |
| Depreciation of non-current assets | -$148.0M | -$131.2M | -$117.4M |
| General and administrative expenses | -$50.4M | -$49.2M | -$45.1M |
| Total operating expenses | -$699.0M | -$636.8M | -$521.8M |
| Operating income | $322.1M | $374.2M | $250.4M |
| (Loss) / income from equity method investments | -$2.7M | -$1.2M | $4.9M |
| Interest income | $3.7M | $6.4M | $4.9M |
| Interest expense | -$228.4M | -$211.7M | -$177.2M |
| Other financial expenses, net | -$8.8M | -$27.4M | -$26.9M |
| Total financial expenses, net | -$233.5M | -$232.7M | -$199.2M |
| Income before income taxes | $85.9M | $140.3M | $56.1M |
| Income tax expense | -$40.9M | -$58.2M | -$34.0M |
| Net income attributable to shareholders of Borr Drilling Limited | $45.0M | $82.1M | $22.1M |
| Basic income per share (in dollars per share) | $0.17 | $0.33 | $0.09 |
| Diluted income per share (in dollars per share) | $0.17 | $0.32 | $0.09 |
| Weighted-average shares outstanding, basic (in shares) | 262.3M shares | 250.9M shares | 244.3M shares |
| Weighted-average shares outstanding, diluted (in shares) | 264.5M shares | 254.5M shares | 248.2M shares |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $379.7M | $61.6M | $102.5M |
| Restricted cash | $1.0M | $900.0K | $100.0K |
| Prepaid expenses | $8.3M | $8.4M | |
| Deferred mobilization and contract preparation cost | $29.3M | $40.6M | |
| Accrued revenue | $132.9M | $107.7M | |
| Other current assets | $23.1M | $28.0M | |
| Total current assets | $768.4M | $516.6M | |
| Property, plant and equipment | $2.0M | $2.8M | |
| Jack-up drilling rigs, net | $2.7B | $2.8B | $2.6B |
| Equity method investments | $11.8M | $14.5M | $15.7M |
| Other non-current assets | $100.7M | $62.5M | |
| Total non-current assets | $2.9B | $2.9B | |
| Total assets | $3.6B | $3.4B | |
| Trade payables | $33.8M | $81.6M | |
| Accrued expenses | $76.0M | $68.0M | |
| Short-term accrued interest and other items | $31.2M | $30.6M | |
| Short-term debt | $129.3M | $118.1M | |
| Short-term deferred mobilization, demobilization and other revenue | $24.2M | $27.1M | |
| Other current liabilities | $56.2M | $84.2M | |
| Total current liabilities | $350.7M | $409.6M | |
| Long-term debt | $2.0B | $2.0B | |
| Long-term deferred mobilization, demobilization and other revenue | $29.5M | $21.0M | |
| Other non-current liabilities | $1.8M | $3.2M | |
| Total non-current liabilities | $2.1B | $2.0B | |
| Total liabilities | $2.4B | $2.4B | |
| Share Capital - Common shares of par value $0.10 per share: authorized 365,000,000 (315,000,000 in 2024), issued 315,400,000 (264,080,391 in 2024) and outstanding 307,215,419 (244,926,821 in 2024) shares | $31.6M | $26.5M | |
| Treasury shares | -$18.1M | -$20.9M | |
| Additional paid in capital | $521.9M | $340.8M | $290.6M |
| Contributed surplus | $1.9B | $1.9B | |
| Accumulated deficit | -$1.2B | -$1.3B | |
| Total equity | $1.2B | $993.3M | $984.0M |
| Total liabilities and equity | $3.6B | $3.4B | |
| Ordinary shares, par value (in dollars per share) | $0.10 | $0.10 | |
| Authorized shares (in shares) | 365.0M shares | 315.0M shares | 315.0M shares |
| Issued shares (in shares) | 315.4M shares | 264.1M shares | 264.1M shares |
| Outstanding shares (in shares) | 307.2M shares | 244.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $45.0M | $82.1M | $22.1M |
| Non-cash share-based compensation expense | $11.3M | $9.1M | $5.6M |
| Depreciation of non-current assets | $148.0M | $131.2M | $117.4M |
| Amortization of deferred mobilization and contract preparation costs | $49.0M | $55.7M | $44.6M |
| Amortization of deferred mobilization, demobilization and other revenue | -$49.7M | -$96.9M | -$61.9M |
| Amortization of debt discount | $6.8M | $6.8M | $1.0M |
| Amortization of debt premium | -$2.7M | -$1.3M | $0 |
| Amortization of deferred finance charges | $13.4M | $11.5M | $21.3M |
| Bank commitment, guarantee and other fees | $4.4M | $0 | -$2.9M |
| Effective interest rate adjustments | $0 | $0 | -$19.7M |
| Loss / (income) from equity method investments | $2.7M | $1.2M | -$4.9M |
| Deferred income tax | -$3.2M | $700.0K | -$16.5M |
| Amounts due from related parties | $79.4M | $4.0M | -$29.4M |
| Trade payables and accrued expenses | -$22.4M | $37.2M | -$10.1M |
| Accrued interest | $5.8M | -$5.4M | -$66.1M |
| Other current and non-current assets | -$61.5M | -$218.2M | -$107.7M |
| Other current and non-current liabilities | $25.6M | $59.6M | $56.5M |
| Net cash provided by / (used in) operating activities | $251.9M | $77.3M | -$50.7M |
| Purchase of property, plant and equipment | -$300.0K | -$500.0K | -$1.5M |
| Repayment of loan from joint venture | $0 | $0 | $9.8M |
| Deposit for acquisition of jack-up drilling rigs | -$36.0M | $0 | $0 |
| Additions to newbuildings | $0 | -$354.1M | -$1.3M |
| Additions to jack-up drilling rigs | -$88.2M | -$54.8M | -$111.2M |
| Net cash used in investing activities | -$124.5M | -$409.4M | -$104.2M |
| Proceeds from share issuance, net of issuance costs | $177.2M | $0 | $58.1M |
| Repayment of debt | -$141.5M | -$286.1M | -$1.8B |
| Cash distributions paid | -$4.7M | -$76.3M | $0 |
| Debt proceeds, gross of premium / (net of discount and issuance costs) | $159.3M | $672.0M | $1.9B |
| Purchase of treasury shares | -$200.0K | -$19.9M | -$800.0K |
| Proceeds from exercise of share options | $700.0K | $2.3M | $800.0K |
| Net cash provided by financing activities | $190.8M | $292.0M | $139.0M |
| Net increase / (decrease) in cash, cash equivalents and restricted cash | $318.2M | -$40.1M | -$15.9M |
| Interest paid | -$205.1M | -$186.9M | -$217.4M |
| Non-cash offset of other current and non-current assets and jack-up drilling rigs, net | -$10.0M | -$9.3M | $0 |
Recent filings
- Oct 14, 20264
- Oct 13, 20264
- Oct 13, 2026SCHEDULE 13D
- Oct 8, 20264
- Oct 7, 20264
- Oct 6, 20264
- Oct 2, 20264
- Oct 1, 20266-K
- Sep 21, 20264
- Sep 18, 20264
- Sep 17, 20264
- Sep 16, 20266-K
- Sep 15, 20266-K
- Sep 4, 20264
- Sep 4, 20264
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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