NYSE : SDRL
Seadrill Limited — Financial statements
Energy · Oil & Gas Drilling · United States
Last price 52.355 USD (Oct 30, 2026, 11:55 AM EDT) · Market cap 3.27B
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Financial statements
Seadrill Limited (SDRL) reported revenue of 1.48B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 1.48B | 1.38B | 1.31B | 1.43B | 920.00M | 840.00M |
| Other Revenue | 3.00M | 5.00M | 12.00M | 16.00M | ||
| Revenue | 1.48B | 1.38B | 1.31B | 1.44B | 936.00M | 840.00M |
| Cost of Revenue | 955.00M | 968.00M | 856.00M | 879.00M | 655.00M | 786.00M |
| Gross Profit | 521.00M | 411.00M | 459.00M | 565.00M | 281.00M | 54.00M |
| Selling, General & Admin | 108.00M | 103.00M | 107.00M | 74.00M | 60.00M | 67.00M |
| Other Operating Expenses | -18.00M | -3.00M | -3.00M | -34.00M | ||
| Operating Expenses | 378.00M | 341.00M | 257.00M | 226.00M | 209.00M | 160.00M |
| Operating Income | 143.00M | 70.00M | 202.00M | 339.00M | 72.00M | -106.00M |
| Interest Expense | -62.00M | -61.00M | -61.00M | -59.00M | -105.00M | -109.00M |
| Interest & Investment Income | 13.00M | 14.00M | 25.00M | 35.00M | 14.00M | 1.00M |
| Earnings From Equity Investments | -16.00M | -10.00M | -9.00M | 37.00M | -4.00M | 3.00M |
| Other Non Operating Income (Expenses) | -1.00M | -41.00M | -34.00M | -25.00M | 33.00M | -15.00M |
| EBT Excluding Unusual Items | 77.00M | -28.00M | 123.00M | 327.00M | 10.00M | -226.00M |
| Merger & Restructuring Charges | -3.00M | -2.00M | -24.00M | -24.00M | -3.00M | |
| Gain (Loss) on Sale of Assets | 1.00M | 1.00M | 234.00M | 14.00M | 3.00M | 47.00M |
| Asset Writedown | -22.00M | -22.00M | -152.00M | |||
| Other Unusual Items | -35.00M | 3.67B | -263.00M | |||
| Pretax Income | 18.00M | -51.00M | 333.00M | 317.00M | 3.68B | -572.00M |
| Income Tax Expense | 17.00M | 26.00M | -113.00M | 17.00M | 12.00M | |
| Earnings From Continuing Operations | 1.00M | -77.00M | 446.00M | 300.00M | 3.67B | -572.00M |
| Earnings From Discontinued Operations | 241.00M | -15.00M | ||||
| Net Income to Company | 1.00M | -77.00M | 446.00M | 300.00M | 3.91B | -587.00M |
| Net Income | 1.00M | -77.00M | 446.00M | 300.00M | 3.91B | -587.00M |
| Net Income to Common | 1.00M | -77.00M | 446.00M | 300.00M | 3.91B | -587.00M |
| Shares Outstanding (Basic) | 62.00M | 62.00M | 68.00M | 71.00M | 57.26M | 100.00M |
| Shares Outstanding (Diluted) | 62.00M | 62.00M | 71.00M | 74.00M | 59.82M | 100.00M |
| EPS (Basic) | 0.02 | -1.24 | 6.56 | 4.23 | 68.23 | -5.87 |
| EPS (Diluted) | 0.02 | -1.24 | 6.37 | 4.12 | 65.36 | -5.87 |
| Free Cash Flow | -132.00M | -138.00M | -69.00M | 186.00M | -140.00M | -183.00M |
| Free Cash Flow Per Share | -2.13 | -2.23 | -0.97 | 2.51 | -2.34 | -1.83 |
| Gross Margin | 35.30% | 29.80% | 34.91% | 39.13% | 30.02% | 6.43% |
| Operating Margin | 9.69% | 5.08% | 15.36% | 23.48% | 7.69% | -12.62% |
| Profit Margin | 0.07% | -5.58% | 33.92% | 20.78% | 417.42% | -69.88% |
| Free Cash Flow Margin | -8.94% | -10.01% | -5.25% | 12.88% | -14.96% | -21.79% |
| EBITDA | 413.00M | 308.00M | 370.00M | 494.00M | 224.00M | 21.00M |
| EBITDA Margin | 27.98% | 22.34% | 28.14% | 34.21% | 23.93% | 2.50% |
| D&A For EBITDA | 270.00M | 238.00M | 168.00M | 155.00M | 152.00M | 127.00M |
| EBIT | 143.00M | 70.00M | 202.00M | 339.00M | 72.00M | -106.00M |
| EBIT Margin | 9.69% | 5.08% | 15.36% | 23.48% | 7.69% | -12.62% |
| Effective Tax Rate | 94.44% | 5.36% | 0.33% | |||
| Revenue as Reported | 1.53B | 1.44B | 1.39B | 1.50B | 1.01B | 907.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 337.00M | 339.00M | 478.00M | 697.00M | 480.00M | 293.00M |
| Cash & Short-Term Investments | 337.00M | 339.00M | 478.00M | 697.00M | 480.00M | 293.00M |
| Accounts Receivable | 335.00M | 162.00M | 193.00M | 231.00M | 164.00M | 186.00M |
| Other Receivables | 50.00M | 52.00M | 55.00M | 67.00M | 42.00M | |
| Receivables | 385.00M | 214.00M | 248.00M | 298.00M | 206.00M | 186.00M |
| Prepaid Expenses | 42.00M | 61.00M | 57.00M | 54.00M | 37.00M | |
| Restricted Cash | 23.00M | 26.00M | 27.00M | 31.00M | 44.00M | 160.00M |
| Other Current Assets | 133.00M | 118.00M | 118.00M | 78.00M | 90.00M | 1.34B |
| Total Current Assets | 920.00M | 758.00M | 928.00M | 1.16B | 857.00M | 1.98B |
| Property, Plant & Equipment | 2.94B | 3.00B | 2.96B | 2.87B | 1.68B | 1.44B |
| Long-Term Investments | 66.00M | 58.00M | 68.00M | 90.00M | 84.00M | 27.00M |
| Other Intangible Assets | 12.00M | |||||
| Long-Term Deferred Tax Assets | 29.00M | 44.00M | 63.00M | 46.00M | 15.00M | 10.00M |
| Long-Term Deferred Charges | 86.00M | 110.00M | 44.00M | 77.00M | ||
| Other Long-Term Assets | 148.00M | 6.00M | 25.00M | 8.00M | 78.00M | 437.00M |
| Total Assets | 4.11B | 3.95B | 4.16B | 4.22B | 2.80B | 3.90B |
| Accounts Payable | 72.00M | 61.00M | 118.00M | 53.00M | 76.00M | 53.00M |
| Accrued Expenses | 127.00M | 158.00M | 204.00M | 138.00M | 128.00M | |
| Current Portion of Long-Term Debt | 22.00M | |||||
| Current Portion of Leases | 2.00M | 3.00M | 2.00M | 3.00M | 30.00M | |
| Current Income Taxes Payable | 36.00M | 35.00M | 20.00M | 33.00M | 29.00M | |
| Current Unearned Revenue | 70.00M | 58.00M | 63.00M | 31.00M | 19.00M | 25.00M |
| Other Current Liabilities | 63.00M | 60.00M | 93.00M | 132.00M | 127.00M | 1.26B |
| Total Current Liabilities | 368.00M | 374.00M | 501.00M | 389.00M | 404.00M | 1.37B |
| Long-Term Debt | 737.00M | 613.00M | 610.00M | 608.00M | 496.00M | |
| Long-Term Leases | 17.00M | 18.00M | 8.00M | 2.00M | 6.00M | 5.00M |
| Long-Term Unearned Revenue | 69.00M | 36.00M | 48.00M | 33.00M | 42.00M | 10.00M |
| Long-Term Deferred Tax Liabilities | 17.00M | 14.00M | 11.00M | 9.00M | 9.00M | 9.00M |
| Other Long-Term Liabilities | 34.00M | 34.00M | 60.00M | 194.00M | 142.00M | 6.22B |
| Total Liabilities | 1.24B | 1.09B | 1.24B | 1.24B | 1.10B | 7.61B |
| Common Stock | 1.00M | 1.00M | 1.00M | 1.00M | 10.00M | |
| Additional Paid-In Capital | 1.97B | 1.99B | 1.97B | 2.48B | 1.50B | 3.50B |
| Retained Earnings | 892.00M | 870.00M | 947.00M | 501.00M | 201.00M | -7.21B |
| Comprehensive Income & Other | 1.00M | 1.00M | 1.00M | 1.00M | 2.00M | -15.00M |
| Total Common Equity | 2.86B | 2.86B | 2.92B | 2.98B | 1.70B | -3.72B |
| Shareholders' Equity | 2.86B | 2.86B | 2.92B | 2.98B | 1.70B | -3.72B |
| Total Liabilities & Equity | 4.11B | 3.95B | 4.16B | 4.22B | 2.80B | 3.90B |
| Total Debt | 754.00M | 633.00M | 621.00M | 612.00M | 527.00M | 35.00M |
| Net Cash (Debt) | -417.00M | -294.00M | -143.00M | 85.00M | -47.00M | 258.00M |
| Net Cash Per Share | -6.73 | -4.74 | -2.01 | 1.15 | -0.79 | 2.58 |
| Filing Date Shares Outstanding | 62.54M | 62.45M | 62.16M | 73.80M | 50.00M | 50.00M |
| Total Common Shares Outstanding | 62.54M | 62.37M | 62.15M | 73.71M | 50.00M | 100.38M |
| Working Capital | 552.00M | 384.00M | 427.00M | 769.00M | 453.00M | 608.00M |
| Book Value Per Share | 45.79 | 45.82 | 46.95 | 40.47 | 34.04 | -37.02 |
| Tangible Book Value | 2.86B | 2.86B | 2.92B | 2.98B | 1.69B | -3.72B |
| Tangible Book Value Per Share | 45.79 | 45.82 | 46.95 | 40.47 | 33.80 | -37.02 |
| Machinery | 3.77B | 3.67B | 3.39B | 3.15B | 1.77B | 2.28B |
| Order Backlog | 2.38B | 3.18B | 3.02B | 2.31B | 2.57B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.00M | -77.00M | 446.00M | 300.00M | 3.67B | -587.00M |
| Depreciation & Amortization | 270.00M | 238.00M | 168.00M | 155.00M | 152.00M | 127.00M |
| Other Amortization | 3.00M | 3.00M | 4.00M | 2.00M | 7.00M | 84.00M |
| Loss (Gain) From Sale of Assets | -1.00M | -1.00M | -234.00M | -14.00M | -3.00M | -47.00M |
| Asset Writedown & Restructuring Costs | 22.00M | 22.00M | -3.49B | 328.00M | ||
| Loss (Gain) on Equity Investments | 16.00M | 10.00M | 9.00M | -37.00M | 4.00M | -3.00M |
| Stock-Based Compensation | 17.00M | 20.00M | 17.00M | 8.00M | ||
| Provision & Write-off of Bad Debts | -1.00M | 34.00M | ||||
| Other Operating Activities | -126.00M | -168.00M | -269.00M | -120.00M | -353.00M | -87.00M |
| Change in Accounts Receivable | -119.00M | 23.00M | 29.00M | -25.00M | 21.00M | -41.00M |
| Change in Accounts Payable | -1.00M | -47.00M | 65.00M | -34.00M | 23.00M | 15.00M |
| Change in Unearned Revenue | -19.00M | -8.00M | 22.00M | 1.00M | 26.00M | 7.00M |
| Change in Other Net Operating Assets | -115.00M | -43.00M | -169.00M | 52.00M | -64.00M | 21.00M |
| Operating Cash Flow | -52.00M | -28.00M | 88.00M | 287.00M | 9.00M | -154.00M |
| Capital Expenditures | -80.00M | -110.00M | -157.00M | -101.00M | -149.00M | -29.00M |
| Sale of Property, Plant & Equipment | 1.00M | 1.00M | 383.00M | 98.00M | 3.00M | 43.00M |
| Divestitures | 21.00M | 565.00M | ||||
| Other Investing Activities | -4.00M | 24.00M | -76.00M | 23.00M | ||
| Investing Cash Flow | -79.00M | -113.00M | 226.00M | 42.00M | 343.00M | 37.00M |
| Long-Term Debt Issued | 576.00M | 225.00M | ||||
| Long-Term Debt Repaid | -478.00M | -624.00M | ||||
| Net Debt Issued (Repaid) | 100.00M | 98.00M | -399.00M | |||
| Repurchase of Common Stock | -22.00M | -3.00M | -532.00M | -263.00M | ||
| Other Financing Activities | -8.00M | -35.00M | 36.00M | |||
| Financing Cash Flow | 70.00M | -3.00M | -532.00M | -200.00M | -363.00M | |
| Foreign Exchange Rate Adjustments | 2.00M | 4.00M | -5.00M | 1.00M | 5.00M | -2.00M |
| Net Cash Flow | -59.00M | -140.00M | -223.00M | 130.00M | -6.00M | -119.00M |
| Free Cash Flow | -132.00M | -138.00M | -69.00M | 186.00M | -140.00M | -183.00M |
| Free Cash Flow Margin | -8.94% | -10.01% | -5.25% | 12.88% | -14.96% | -21.79% |
| Free Cash Flow Per Share | -2.13 | -2.23 | -0.97 | 2.51 | -2.34 | -1.83 |
| Levered Free Cash Flow | 34.62M | 61.62M | 242.12M | 167.00M | 336.38M | -669.38M |
| Unlevered Free Cash Flow | 70.38M | 96.75M | 276.25M | 201.88M | 395.00M | -685.25M |
| Cash Interest Paid | 53.00M | 53.00M | 54.00M | 36.00M | 57.00M | |
| Cash Income Tax Paid | 12.00M | 12.00M | 17.00M | 24.00M | 6.00M | 3.00M |
| Change in Working Capital | -254.00M | -75.00M | -53.00M | -6.00M | 6.00M | 2.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.06B | 2.16B | 2.54B | 3.49B | 1.63B | |
| Enterprise Value | 3.47B | 2.39B | 2.58B | 3.27B | 2.40B | |
| Last Close Price | 52.57 | 34.60 | 38.93 | 47.28 | 32.64 | |
| PE Ratio | 3,029.33 | 5.70 | 11.63 | 0.42 | ||
| Forward PE | 31.67 | 39.27 | 21.03 | 15.88 | 13.38 | |
| PS Ratio | 2.08 | 1.56 | 1.93 | 2.42 | 1.74 | |
| PB Ratio | 1.15 | 0.76 | 0.87 | 1.17 | 0.96 | |
| P/TBV Ratio | 1.07 | 0.76 | 0.87 | 1.17 | 0.97 | |
| P/FCF Ratio | 18.77 | |||||
| P/OCF Ratio | 28.87 | 12.16 | 181.33 | |||
| EV/Sales Ratio | 2.36 | 1.73 | 1.97 | 2.27 | 2.57 | |
| EV/EBITDA Ratio | 8.43 | 7.74 | 6.99 | 6.62 | 10.73 | |
| EV/EBIT Ratio | 24.34 | 34.07 | 12.80 | 9.65 | 33.39 | |
| EV/FCF Ratio | 17.58 | |||||
| Debt / Equity Ratio | 0.26 | 0.22 | 0.21 | 0.20 | 0.31 | -0.01 |
| Debt / EBITDA Ratio | 1.81 | 2.04 | 1.66 | 1.23 | 1.97 | 0.55 |
| Debt / FCF Ratio | 3.29 | |||||
| Net Debt / Equity Ratio | 0.15 | 0.10 | 0.05 | -0.03 | 0.03 | 0.07 |
| Net Debt / EBITDA Ratio | 1.01 | 0.95 | 0.39 | -0.17 | 0.21 | -12.29 |
| Net Debt / FCF Ratio | -3.16 | -2.13 | -2.07 | -0.46 | -0.34 | 1.41 |
| Asset Turnover | 0.36 | 0.34 | 0.31 | 0.41 | 0.28 | 0.21 |
| Quick Ratio | 1.96 | 1.48 | 1.45 | 2.56 | 1.70 | 0.35 |
| Current Ratio | 2.50 | 2.03 | 1.85 | 2.98 | 2.12 | 1.44 |
| Return on Equity (ROE) | 0.03% | -2.67% | 15.12% | 12.81% | ||
| Return on Assets (ROA) | 2.19% | 1.08% | 3.02% | 6.04% | 1.34% | -1.68% |
| Return on Invested Capital (ROIC) | 0.25% | 2.25% | 6.78% | 13.81% | 3.36% | |
| Return on Capital Employed (ROCE) | 3.80% | 2.00% | 5.50% | 8.90% | 3.00% | -4.20% |
| Earnings Yield | 0.03% | -3.57% | 17.55% | 8.60% | 239.40% | |
| FCF Yield | -4.31% | -6.39% | -2.72% | 5.33% | -8.58% | |
| Buyback Yield / Dilution | 4.61% | 12.68% | 4.05% | -23.70% | 40.17% |