Borr Drilling Limited

BORR

BORRBorr Drilling Limited US flag

New York Stock Exchange

5.06

USD

-0.29

- -

1.33BMarket Cap

Income Statement (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	- -	- -	165	334	308	245	444	772	1,011	1,021
+ Sales & Services Revenue	- -	- -	165	334	308	245	444	772	1,011	1,021
- Cost of Revenue	- -	21	104	122	118	120	116	117	131	148
+ Cost of Goods & Services	- -	21	104	122	118	120	116	117	131	148
Gross Profit	- -	-21	61	212	190	126	327	654	879	873
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	- -	57	219	358	320	215	302	404	506	551
+ Selling, General & Admin	- -	21	39	50	49	35	37	45	49	50
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	36	180	308	270	180	265	359	456	501
Operating Income (Loss)	- -	-78	-158	-146	-130	-90	26	250	374	322
- Non-Operating (Income) Loss	- -	10	31	142	172	94	300	194	234	236
+ Interest Expense, Net	- -	-3	12	69	87	93	120	154	194	211
+ Interest Expense	- -	- -	14	70	87	93	125	158	202	218
- Interest Income	- -	3	1	2	- -	- -	5	5	8	6
+ Other Non-Op (Income) Loss	- -	12	18	73	84	1	180	40	40	25
Pretax Income	- -	-88	-188	-288	-301	-183	-274	56	140	86
- Income Tax Expense (Benefit)	- -	- -	2	11	16	10	18	34	58	41
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	- -	-88	-191	-299	-318	-193	-293	22	82	45
- Net Extraordinary Losses (Gains)	- -	- -	-1	-3	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	-1	-3	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	- -	-88	-190	-296	-318	-193	-293	22	82	45
- Minority Interest	- -	- -	- -	2	- -	- -	- -	- -	- -	- -
Net Income, GAAP	- -	-88	-190	-298	-318	-193	-293	22	82	45
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	- -	-88	-190	-298	-318	-193	-293	22	82	45
EBIT	- -	-78	-158	-146	-130	-90	26	250	374	322
EBITDA	- -	-57	-78	-44	-12	30	142	367	505	470
EBITDA Margin (%)	- -	-57,100	-47.36	-13.29	-3.9	12.27	32.02	47.59	49.97	46.02
EBITA	- -	-78	-158	-146	-130	-90	26	250	374	322
Gross Margin (%)	- -	-21,100	37.11	63.6	61.66	51.24	73.75	84.78	87.02	85.5
Operating Margin (%)	- -	-78,300	-95.57	-43.64	-42.24	-36.49	5.77	32.37	36.99	31.52
Profit Margin (%)	- -	-88,000	-115.52	-89.08	-103.28	-78.68	-65.98	2.86	8.12	4.41
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	0.3	0.02
Depreciation Expense	- -	21	80	101	118	120	116	117	131	148
Basic Weighted Avg Shares	- -	26	51	54	75	135	178	244	251	262
Basic EPS, GAAP	- -	-3.4	-3.7	-5.54	-4.22	-1.43	-1.64	0.09	0.33	0.17
Basic EPS from Cont Ops	- -	-3.4	-3.71	-5.57	-4.22	-1.43	-1.64	0.09	0.33	0.17
Diluted Weighted Avg Shares	- -	26	51	54	75	135	178	248	254	265
Diluted EPS, GAAP	- -	-3.4	-3.7	-5.54	-4.22	-1.43	-1.64	0.09	0.32	0.17
Diluted EPS from Cont Ops	- -	-3.4	-3.71	-5.57	-4.22	-1.43	-1.64	0.09	0.32	0.17

Balance Sheet (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	138	226	209	278	141	176	350	410	517	768
+ Cash, Cash Equivalents & STI	138	168	32	59	19	35	108	102	62	380
+ Cash & Cash Equivalents	138	164	28	59	19	35	108	102	62	380
+ ST Investments	- -	4	4	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	- -	5	93	116	103	113	191	256	402	347
+ Accounts Receivable, Net	- -	- -	25	40	23	28	43	56	184	192
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	5	68	76	80	85	148	200	218	155
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	- -	52	83	103	18	28	51	52	53	42
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	20	1,447	2,705	3,002	3,030	2,904	2,652	2,670	2,903	2,857
+ Property, Plant & Equip, Net	- -	1,426	2,649	2,770	2,967	2,871	2,598	2,588	2,826	2,781
+ Property, Plant & Equip	- -	1,426	2,649	2,954	2,967	2,871	3,081	3,194	3,562	3,665
- Accumulated Depreciation	- -	- -	- -	184	- -	- -	483	605	736	884
+ LT Investments & Receivables	- -	21	31	31	63	19	21	16	14	12
+ LT Investments	- -	21	31	31	63	19	21	16	14	12
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	20	- -	25	201	1	13	33	66	62	65
+ Total Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Goodwill	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	20	- -	25	201	1	13	33	66	62	65
Total Assets	158	1,672	2,914	3,280	3,171	3,080	3,002	3,080	3,420	3,626
+ Payables & Accruals	- -	21	81	101	84	112	240	211	244	176
+ Accounts Payable	- -	10	10	14	20	35	48	36	82	34
+ Accrued Taxes	- -	- -	4	18	10	16	34	44	62	30
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	12	67	69	54	62	159	132	100	112
+ ST Debt	- -	- -	- -	3	3	1	446	83	118	129
+ ST Borrowings	- -	- -	- -	- -	- -	- -	405	83	118	129
+ ST Finance Leases	- -	- -	- -	3	3	1	- -	- -	- -	- -
+ Other ST Liabilities	- -	- -	38	146	9	5	59	66	48	46
+ Deferred Revenue	- -	- -	3	77	3	4	57	60	43	44
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	35	69	6	1	1	6	5	2
Total Current Liabilities	- -	21	119	250	96	118	746	360	410	351
+ LT Debt	- -	87	1,176	1,710	1,906	1,916	1,191	1,619	1,992	2,021
+ LT Borrowings	- -	87	1,176	1,710	1,906	1,916	1,191	1,619	1,992	2,021
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	- -	71	85	26	132	157	167	117	24	31
+ Accrued Liabilities	- -	71	78	- -	71	2	69	57	21	30
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	7	26	61	154	98	60	3	2
Total Noncurrent Liabilities	- -	158	1,261	1,736	2,038	2,072	1,358	1,736	2,017	2,052
Total Liabilities	- -	179	1,380	1,986	2,134	2,190	2,104	2,096	2,426	2,403
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	159	1,593	1,843	1,897	1,958	1,992	2,289	2,352	2,291	2,472
+ Common Stock	1	5	5	6	11	14	23	26	26	32
+ Additional Paid in Capital	158	1,588	1,838	1,891	1,947	1,978	2,266	2,325	2,264	2,441
- Treasury Stock	- -	7	26	26	26	14	10	9	21	18
+ Retained Earnings	-1	-89	-279	-577	-895	-1,088	-1,381	-1,359	-1,277	-1,232
+ Other Equity	- -	-6	-6	- -	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	158	1,491	1,532	1,294	1,037	890	898	984	993	1,223
+ Minority/Non Controlling Interest	- -	2	2	- -	- -	- -	- -	- -	- -	- -
Total Equity	158	1,493	1,534	1,294	1,037	890	898	984	993	1,223
Total Liabilities & Equity	158	1,672	2,914	3,280	3,171	3,080	3,002	3,080	3,420	3,626
Shares Outstanding	31	49	53	55	109	137	229	253	245	307
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	3	3	1	- -	- -	- -	- -
Net Debt	-138	-77	1,148	1,651	1,887	1,881	1,488	1,599	2,049	1,771
Net Debt to Equity	-87.52	-5.16	74.85	127.56	182	211.37	165.76	162.52	206.28	144.82
Tangible Common Equity Ratio	99.81	89.27	52.63	39.45	32.7	28.89	29.91	31.95	29.05	33.72
Current Ratio	690.5	10.69	1.75	1.11	1.47	1.49	0.47	1.14	1.26	2.19
Cash Conversion Cycle	- -	-82.64	-6.01	0.1	-15.95	-45.84	-99.68	-105.87	-119.46	-75.06

Cash Flow Statement (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	- -	-88	-191	-299	-318	-193	-293	22	82	45
+ Depreciation & Amortization	- -	21	80	101	118	120	116	117	131	148
+ Non-Cash Items	- -	-122	36	98	101	-4	168	-33	-13	32
+ Stock-Based Compensation	- -	8	4	4	1	1	3	6	9	11
+ Deferred Income Taxes	- -	- -	- -	1	1	- -	-2	-16	1	-3
+ Asset Impairment Charge	- -	27	- -	11	77	- -	132	- -	- -	- -
+ Other Non-Cash Adj	- -	-157	32	82	22	-4	36	-22	-23	24
+ Chg in Non-Cash Work Cap	- -	4	-60	10	44	18	71	-157	-123	27
+ (Inc) Dec in Accts Receiv	- -	- -	- -	-9	27	-14	-17	-29	4	79
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	- -	- -	- -	-2	31	39	54	-76	32	-17
+ Inc (Dec) in Other	- -	4	-60	20	-14	-8	34	-51	-159	-36
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	- -	-185	-135	-89	-55	-59	62	-51	77	252
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	42	7	38	3	1	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	42	7	38	3	1	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	-905	-394	-272	-42	-19	-83	-114	-409	-124
+ Acq of Fixed Prod Assets	- -	-905	-394	-272	-42	-19	-83	-114	-409	-124
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	1,407	199	49	60	45	298	57	-20	177
+ Increase in Capital Stock	- -	1,415	219	49	60	45	298	58	- -	177
+ Decrease in Capital Stock	- -	-8	-20	- -	- -	- -	- -	-1	-20	- -
+ Net Change in LT Investment	- -	-27	-13	24	-90	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	31	3	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	-27	-13	-7	-92	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	-324	-195	-31	-26	11	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	11	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	-324	-195	-31	-26	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	46	- -	10	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	- -	-1,256	-560	-271	-120	41	-83	-104	-409	-124
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	-76	-5
+ Net Cash From Debt	- -	100	413	407	5	- -	-206	81	386	18
+ Cash From Debt	- -	100	502	797	5	- -	150	1,882	672	159
+ Repayments of Debt	- -	- -	-89	-390	- -	- -	-356	-1,801	-286	-142
+ Other Financing Activities	- -	- -	-28	-58	- -	- -	- -	1	2	1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	- -	1,506	584	397	65	45	93	139	292	191
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	- -	65	-112	37	-109	27	72	-16	-40	318
EBITDA	- -	-57	-78	-44	-12	30	142	367	505	470
EBITDA Margin (%)	- -	-57,100	-47.36	-13.29	-3.9	12.27	32.02	47.59	49.97	46.02
Free Cash Flow	- -	-1,090	-529	-361	-97	-78	-21	-165	-332	127
Net Cash Paid for Acquisitions	- -	324	195	31	26	-11	- -	- -	- -	- -
Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	-102	-214	241
Free Cash Flow to Equity	- -	-990	-74	53	-54	-75	-226	-84	54	145
Free Cash Flow per Basic Share	- -	-42.14	-10.28	-6.71	-1.29	-0.58	-0.12	-0.67	-1.32	0.49
Price/Free Cash Flow	- -	- -	2.44	5.32	-9.88	-6.94	6.08	28.85	2.04	2.83
Cash Flow to Net Income	- -	2.1	0.71	0.3	0.17	0.31	-0.21	-2.29	0.94	5.6
Capital Expenditures	- -	-905	-394	-272	-42	-19	-83	-114	-409	-124