BORRBorr Drilling Limited
Is it safe?
Mostly sound, with a caveat: insiders buying, but heavy debt (BB) and big price swings.
Insiders were net buyers (+$32.3M, 90 days to Oct 8, 2026). SEC Form 4 filings: officers and directors must report their own trades within two business days.
Moderately leveraged. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -97% · now 28% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can BORR take a bad year?
Borr Drilling Limited carries $2.26B of net debt at 6.25× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 6.25×
Net debt / EBITDA · 3.97× a year ago · the load is going up
- Interest cover
- 0.49×
Interest cover · operating profit does not cover the interest bill
- Annualised volatility
- 62%
Annualised volatility · three times the market's own swing
Details›
- Total debtQ2 2026
- $2.49B
- Cash and short-term investments
- $224M
- Net debt
- $2.26B
- EBITDA, trailing twelve months
- $362M
- Operating profit, trailing twelve months
- $203M
- Debt / equity
- 2.58×
- Total debt / EBITDA
- 6.87×
- Annualised volatilitytwo years of daily moves
- 62%
- Worst drawdown on file
- −97%
- Below its 52-week high
- 28%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.