Valaris Ltd VAL

Energy SIC 1381 - Drilling Oil & Gas Wells NAICS Mining, Quarrying, and Oil and Gas Extraction › Support Activities for Mining › Drilling Oil and Gas Wells derived NYSE

Valaris Limited is a global offshore contract drilling company. Unless the context requires otherwise, the terms "Valaris," "Company," "we," "us" and "our" refer to Valaris Limited together with all its subsidiaries and predecessors.

We are a leading provider of offshore contract drilling services to the international oil and gas industry with operations in almost every major offshore market across six continents. Our fleet of offshore drilling rigs is among the largest in the world and includes one of the highest specification ultra-deepwater fleets, as well as a leading premium jackup fleet. As of February 20, 2026, we own 46 rigs, including 13 drillships, two semisubmersible rigs, 31 jackup rigs and a 50% equity interest in ARO, our 50/50 unconsolidated joint venture with Saudi Aramco, which owns an additional nine rigs.

Last close 97.33 2026-10-23
Market cap $6.76B 2026-06-30 share count
52-week range 48.09 - 114.12

Valuation FY2025 figures against the last close

P/S567.9x
P/E7.0x
P/FCF33.3x
EV/EBITDA11.6x
Dividend yield—
Diluted EPS13.86

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $11.9M$9.6M$1.78B$1.60B—$1.43B$2.05B$1.71B$1.84B$2.78B
Cost of revenue $1.63B$1.76B$1.54B$1.38B——$1.81B$1.32B$1.19B—
Gross profit -$1.62B-$1.75B$240.6M$219.3M——$247.2M$386.0M$653.5M—
SG&A $97.1M$116.3M$99.3M$80.9M—$214.6M$188.9M$102.7M$157.8M$100.8M
Total operating expenses $1.90B$2.00B$1.74B$1.59B—$1.47B$1.81B$1.32B$1.19B$1.85B
Operating income $477.0M$352.3M$53.5M$37.2M—-$4.33B-$669.8M-$235.9M-$132.0M$929.3M
Interest expense —————$290.6M$428.3M$282.7M$224.2M$228.8M
Pre-tax income $552.3M$370.2M$84.2M$224.9M—-$5.12B-$63.8M-$538.9M-$196.0M$997.5M
Income tax $426.8M$400.0K$782.6M$43.1M—$259.4M$128.4M$89.6M$109.2M$108.5M
Net income $979.1M$866.8M$181.8M-$4.49B$369.8M-$4.86B-$198.0M-$639.7M-$303.7M$890.2M
EPS, basic 13.925.1811.682.35—-24.42————
EPS, diluted 13.865.1211.512.33—-24.42-1.14-5.90-3.663.13
Shares, diluted (wtd. avg.) 70.9M72.9M75.2M75.6M199.6M198.9M————

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $599.4M$368.2M$635.7M$748.5M$644.6M$607.6M$97.2M$275.1M$445.4M$1.16B
Short-term investments ——————$0$329.0M$440.0M$1.44B
Receivables $474.8M$571.2M$459.3M$449.1M$444.2M$425.9M$520.7M$344.7M$345.4M$361.0M
Inventory ————$0$279.4M$340.1M$268.1M$278.8M$225.2M
Total current assets $1.23B$1.08B$1.27B$1.35B$1.21B$1.21B$1.06B$1.31B$1.61B$3.28B
Property, plant and equipment $2.09B$1.93B$1.63B$977.2M$890.9M$909.1M$15.10B$12.62B$12.87B$10.92B
Other intangibles —————$2.4M$11.9M$2.5M$15.7M$300.0K
Total assets $5.30B$4.42B$4.32B$2.86B$2.60B$2.60B$16.93B$14.02B$14.63B$14.37B
Accounts payable $348.2M$328.5M$400.1M$256.5M$225.8M$174.1M$288.2M$210.5M$432.6M$145.9M
Short-term debt ————$0$0$124.8M$0$0$331.9M
Total current liabilities $691.6M$679.5M$744.3M$504.4M$422.0M$390.6M$830.7M$528.5M$758.5M$854.4M
Long-term debt $1.09B$1.08B$1.08B$542.4M$545.3M$544.8M$5.92B$5.01B$4.75B$4.94B
Total liabilities $2.13B$2.18B$2.33B$1.56B——————
Retained earnings $2.38B$1.40B$1.03B$160.1M-$16.4M$0$671.7M$874.2M$1.53B$1.86B
Total equity $3.17B$2.24B$1.99B$1.29B$1.07B$1.10B$9.31B$8.09B$8.73B$8.25B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $546.2M$355.4M$267.5M$127.0M—-$251.7M-$276.9M-$55.7M$259.4M$1.08B
Depreciation and amortisation $146.3M$122.1M$101.1M$91.2M—$540.8M$609.7M$478.9M——
Stock-based compensation $25.2M$27.7M$27.3M$17.4M—$21.4M$37.3M$29.9M$34.2M$39.6M
Capital expenditure $343.5M$455.1M$696.1M$207.0M—$93.8M$227.0M$426.7M$536.7M$322.2M
Investing cash flow -$205.6M-$452.3M-$665.8M-$16.7M—-$42.0M$1.05B-$304.7M-$403.0M-$575.0M
Financing cash flow -$103.6M-$158.3M$285.5M-$6.4M—$522.2M-$952.3M$188.2M-$570.5M$529.0M
Dividends paid —————$0$4.5M$17.9M$13.8M$11.6M
Buybacks $100.0M$126.4M$198.6M$0——————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000314808-26-000085.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -6B -4B -2B 0 2B 4B Revenue, FY2016: 2.8B Net income, FY2016: 890.2M Revenue, FY2017: 1.8B Gross profit, FY2017: 653.5M Net income, FY2017: -303.7M Revenue, FY2018: 1.7B Gross profit, FY2018: 386M Net income, FY2018: -639.7M Revenue, FY2019: 2.1B Gross profit, FY2019: 247.2M Net income, FY2019: -198M Revenue, FY2020: 1.4B Net income, FY2020: -4.9B Net income, FY2021: 369.8M Revenue, FY2022: 1.6B Gross profit, FY2022: 219.3M Net income, FY2022: -4.5B Revenue, FY2023: 1.8B Gross profit, FY2023: 240.6M Net income, FY2023: 181.8M Revenue, FY2024: 9.6M Gross profit, FY2024: -1.8B Net income, FY2024: 866.8M Revenue, FY2025: 11.9M Gross profit, FY2025: -1.6B Net income, FY2025: 979.1M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.78B $1.84B $1.71B $2.05B $1.43B — $1.60B $1.78B $9.6M $11.9M
Gross profit — $653.5M $386.0M $247.2M — — $219.3M $240.6M -$1.75B -$1.62B
Net income $890.2M -$303.7M -$639.7M -$198.0M -$4.86B $369.8M -$4.49B $181.8M $866.8M $979.1M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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