Is the business good?
How good a business is BORR?
Borr Drilling Limited earns 9.2% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
9.2%
Return on invested capital · cost of capital 9.0% · 0.20 points above what the capital costs: growth creates value
- Operating margin
- 35%
Operating margin · Oil & Gas Drilling median 5.0% · 12 months to Q2 2025
- Cash conversion
- 2.87×
Cash conversion · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +10%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −61% |
| FY2021 | −36% |
| FY2022 | −23% |
| FY2023 | 32% |
| FY2024 | 37% |
| FY2025 | 32% |
Details›
- Operating margin12 months to Q2 2025
- 35%
- Net margin12 months to Q2 2025
- 6.5%
- Free cash flow margin
- 19%
- Revenue, trailing twelve months
- $990M
- Free cash flow, trailing twelve months
- $184M
- Net income, trailing twelve months
- $64M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 9.2%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.