(BORR) Borr Drilling - Overview
Stock: Jack-Up Rigs, Drilling Services, Shallow-Water Operations
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 0.86% |
| Yield on Cost 5y | 0.85% |
| Yield CAGR 5y | -93.75% |
| Payout Consistency | 68.8% |
| Payout Ratio | 7.7% |
| Risk 5d forecast | |
|---|---|
| Volatility | 57.8% |
| Relative Tail Risk | -0.17% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.88 |
| Alpha | 30.06 |
| Character TTM | |
|---|---|
| Beta | 1.848 |
| Beta Downside | 2.492 |
| Drawdowns 3y | |
|---|---|
| Max DD | 80.46% |
| CAGR/Max DD | -0.03 |
Description: BORR Borr Drilling January 26, 2026
Borr Drilling Ltd (NYSE:BORR) is an offshore shallow-water drilling contractor that owns, leases, and operates jack-up rigs for oil- and-gas exploration and production. Its geographic footprint spans the United States, the Middle East, Southeast Asia, Europe, Latin America, and West Africa, serving integrated majors, national oil companies, and independents.
As of Q4 2025, Borr operated a fleet of 12 jack-up rigs with an average utilization rate of 78 %, up from 71 % a year earlier, reflecting tighter rig supply in the shallow-water segment. The company reported an adjusted EBITDA margin of 23 % and generated $210 million of cash flow, while its net debt stood at $1.2 billion, yielding a debt-to-EBITDA ratio of 2.9×-a level that remains manageable but warrants monitoring given potential interest-rate volatility.
The shallow-water drilling market is currently driven by three macro factors: (1) sustained oil-price support above $80 /barrel, which underpins drilling activity; (2) a constrained supply of new jack-up rigs due to limited shipyard capacity, creating a utilization premium; and (3) increasing capital-expenditure commitments from OPEC-plus members to expand offshore production, especially in the Gulf of Mexico and West Africa. Borr’s exposure to these drivers positions it to benefit from higher day-rates, but also makes it sensitive to any abrupt oil-price correction or a slowdown in upstream capex.
For a deeper quantitative assessment of Borr Drilling’s valuation dynamics, you may find ValueRay’s analytical toolkit useful.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income: 75.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA 5.85 > 1.0 |
| NWC/Revenue: 21.96% < 20% (prev 17.52%; Δ 4.44% < -1%) |
| CFO/TA 0.06 > 3% & CFO 205.2m > Net Income 75.3m |
| Net Debt (1.83b) to EBITDA (479.4m): 3.81 < 3 |
| Current Ratio: 1.55 > 1.5 & < 3 |
| Outstanding Shares: last quarter (311.6m) vs 12m ago 22.25% < -2% |
| Gross Margin: 73.22% > 18% (prev 0.87%; Δ 7235 % > 0.5%) |
| Asset Turnover: 29.85% > 50% (prev 28.96%; Δ 0.89% > 0%) |
| Interest Coverage Ratio: 1.41 > 6 (EBITDA TTM 479.4m / Interest Expense TTM 236.6m) |
Altman Z'' -0.60
| A: 0.06 (Total Current Assets 634.2m - Total Current Liabilities 409.2m) / Total Assets 3.52b |
| B: -0.35 (Retained Earnings -1.23b / Total Assets 3.52b) |
| C: 0.10 (EBIT TTM 333.5m / Avg Total Assets 3.43b) |
| D: -0.50 (Book Value of Equity -1.20b / Total Liabilities 2.38b) |
| Altman-Z'' Score: -0.60 = B |
Beneish M -2.38
| DSRI: 1.02 (Receivables 381.2m/354.2m, Revenue 1.02b/968.1m) |
| GMI: 1.19 (GM 73.22% / 86.95%) |
| AQI: 1.78 (AQ_t 0.03 / AQ_t-1 0.02) |
| SGI: 1.06 (Revenue 1.02b / 968.1m) |
| TATA: -0.04 (NI 75.3m - CFO 205.2m) / TA 3.52b) |
| Beneish M-Score: -2.38 (Cap -4..+1) = BBB |
What is the price of BORR shares?
Over the past week, the price has changed by +15.96%, over one month by +31.41%, over three months by +73.75% and over the past year by +50.62%.
Is BORR a buy, sell or hold?
- StrongBuy: 3
- Buy: 1
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the BORR price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 4.6 | -11.3% |
| Analysts Target Price | 4.6 | -11.3% |
| ValueRay Target Price | 5.6 | 6.5% |
BORR Fundamental Data Overview January 31, 2026
P/E Forward = 28.169
P/S = 1.3958
P/B = 1.2139
Revenue TTM = 1.02b USD
EBIT TTM = 333.5m USD
EBITDA TTM = 479.4m USD
Long Term Debt = 1.94b USD (from longTermDebt, last quarter)
Short Term Debt = 118.3m USD (from shortTermDebt, last quarter)
Debt = 2.06b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.83b USD (from netDebt column, last quarter)
Enterprise Value = 3.26b USD (1.43b + Debt 2.06b - CCE 228.8m)
Interest Coverage Ratio = 1.41 (Ebit TTM 333.5m / Interest Expense TTM 236.6m)
EV/FCF = -55.75x (Enterprise Value 3.26b / FCF TTM -58.4m)
FCF Yield = -1.79% (FCF TTM -58.4m / Enterprise Value 3.26b)
FCF Margin = -5.70% (FCF TTM -58.4m / Revenue TTM 1.02b)
Net Margin = 7.35% (Net Income TTM 75.3m / Revenue TTM 1.02b)
Gross Margin = 73.22% ((Revenue TTM 1.02b - Cost of Revenue TTM 274.4m) / Revenue TTM)
Gross Margin QoQ = 40.06% (prev 86.29%)
Tobins Q-Ratio = 0.92 (Enterprise Value 3.26b / Total Assets 3.52b)
Interest Expense / Debt = 2.81% (Interest Expense 57.7m / Debt 2.06b)
Taxrate = 28.90% (11.3m / 39.1m)
NOPAT = 237.1m (EBIT 333.5m * (1 - 28.90%))
Current Ratio = 1.55 (Total Current Assets 634.2m / Total Current Liabilities 409.2m)
Debt / Equity = 1.80 (Debt 2.06b / totalStockholderEquity, last quarter 1.14b)
Debt / EBITDA = 3.81 (Net Debt 1.83b / EBITDA 479.4m)
Debt / FCF = -31.28 (negative FCF - burning cash) (Net Debt 1.83b / FCF TTM -58.4m)
Total Stockholder Equity = 1.03b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.19% (Net Income 75.3m / Total Assets 3.52b)
RoE = 7.31% (Net Income TTM 75.3m / Total Stockholder Equity 1.03b)
RoCE = 11.24% (EBIT 333.5m / Capital Employed (Equity 1.03b + L.T.Debt 1.94b))
RoIC = 7.62% (NOPAT 237.1m / Invested Capital 3.11b)
WACC = 6.40% (E(1.43b)/V(3.49b) * Re(12.73%) + D(2.06b)/V(3.49b) * Rd(2.81%) * (1-Tc(0.29)))
Discount Rate = 12.73% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 3.75%
Fair Price DCF = unknown (Cash Flow -58.4m)
EPS Correlation: 59.12 | EPS CAGR: 10.76% | SUE: 0.33 | # QB: 0
Revenue Correlation: 90.81 | Revenue CAGR: 44.82% | SUE: 1.43 | # QB: 1
EPS next Quarter (2026-03-31): EPS=-0.02 | Chg30d=-0.007 | Revisions Net=+0 | Analysts=4
EPS next Year (2026-12-31): EPS=-0.09 | Chg30d=-0.068 | Revisions Net=-2 | Growth EPS=-164.2% | Growth Revenue=+5.8%