Borr Drilling Limited Financial Ratios — BORR Stock

Profitability (USD)

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-9.62	-8.31	-9.61	-9.85	-6.17	-9.63	0.73	2.53	1.28
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	26.03	32.52	17.57
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	3.71	7.42	5.13
Gross Margin (%)	- -	-21,100	37.11	63.6	61.66	51.24	73.75	84.78	87.02	85.5
EBITDA Margin (%)	- -	-57,100	-47.36	-13.29	-3.9	12.27	32.02	47.59	49.97	46.02
Operating Margin (%)	- -	-78,300	-95.57	-43.64	-42.24	-36.49	5.77	32.37	36.99	31.52
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	57.98	68.4	51.88	-509.8
Pretax Margin (%)	- -	-88,000	-114.25	-86.17	-98.02	-74.72	-61.83	7.27	13.88	8.41
Profit Margin (%)	- -	-88,000	-115.52	-89.08	-103.28	-78.68	-65.98	2.86	8.12	4.41
Net Income to Common Margin (%)	- -	-88,000	-115.52	-89.08	-103.28	-78.68	-65.98	2.86	8.12	4.41
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	60.61	41.48	47.61
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	92.94	10.44
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (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 Debt	- -	87	1,176	1,713	1,909	1,917	1,638	1,702	2,111	2,150
ST Debt	- -	- -	- -	3	3	1	446	83	118	129
LT Debt	- -	87	1,176	1,710	1,906	1,916	1,191	1,619	1,992	2,021
Total Debt/EBITDA	- -	-1.52	-15.05	-38.59	-159.11	63.67	11.52	4.64	4.18	4.58
Net Debt/EBITDA	- -	1.35	-14.7	-37.18	-157.25	62.49	10.47	4.36	4.06	3.77
Total Debt/EBIT	- -	-1.11	-7.46	-11.75	-14.7	-21.41	63.96	6.81	5.65	6.68
Net Debt/EBIT	- -	0.98	-7.28	-11.32	-14.53	-21.02	58.13	6.4	5.48	5.5
EBITDA to Interest Expense	- -	-114.2	-5.7	-0.63	-0.14	0.32	1.13	2.32	2.51	2.16
EBITDA-CapEx/Interest Expense	- -	-1,924.4	-34.43	-4.49	-0.62	0.12	0.47	1.6	0.47	1.59
EBIT to Interest Expense	- -	-156.6	-11.5	-2.07	-1.49	-0.96	0.2	1.58	1.86	1.48
Interest Expense	- -	- -	14	70	87	93	125	158	202	218
Common Equity/Total Assets	- -	-5.02	-9.4	-17.41	-27.88	-34.88	-45.24	-43.26	-36.56	-33.1
Long-Term Debt/Equity (%)	- -	5.83	76.67	132.12	183.85	215.29	132.67	164.51	200.59	165.3
Long-Term Debt/Capital (%)	- -	1,740	130.13	149.68	185.95	227.49	426.15	437.75	231.61	212.71
Long-Term Debt/Total Assets (%)	- -	5.2	40.35	52.13	60.11	62.2	39.68	52.56	58.27	55.74
Total Debt/Equity (%)	- -	5.83	76.67	132.39	184.15	215.37	182.39	172.99	212.48	175.88
Total Debt/Capital (%)	- -	1,740	130.13	149.98	186.25	227.57	585.87	460.3	245.33	226.32
Total Debt/Total Assets (%)	- -	5.2	40.35	52.23	60.21	62.22	54.55	55.26	61.72	59.31
Net Debt to Equity	-87.52	-5.16	74.85	127.56	182	211.37	165.76	162.52	206.28	144.82
Net Debt/Capital (%)	100	48.43	131.09	152.39	187.59	233	867.76	598.28	256.54	310.41
EBITDA	- -	-57	-78	-44	-12	30	142	367	505	470
EBITDA-CapEx	- -	-962	-472	-316	-54	11	59	253	96	345
Operating Income (Loss)	- -	-78	-158	-146	-130	-90	26	250	374	322

Liquidity (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
Cash Ratio	690.5	7.98	0.27	0.24	0.2	0.3	0.14	0.28	0.15	1.08
Current Ratio	690.5	10.69	1.75	1.11	1.47	1.49	0.47	1.14	1.26	2.19
Quick Ratio	690.5	8.22	1.05	0.7	1.27	1.26	0.4	0.99	1.13	2.07
CFO/Avg Current Liab	- -	-17.36	-1.93	-0.48	-0.32	-0.55	0.14	-0.09	0.2	0.66
Common Equity/Total Assets	- -	-5.02	-9.4	-17.41	-27.88	-34.88	-45.24	-43.26	-36.56	-33.1
Long-Term Debt/Equity (%)	- -	5.83	76.67	132.12	183.85	215.29	132.67	164.51	200.59	165.3
Long-Term Debt/Capital (%)	- -	1,740	130.13	149.68	185.95	227.49	426.15	437.75	231.61	212.71
Long-Term Debt/Total Assets (%)	- -	5.2	40.35	52.13	60.11	62.2	39.68	52.56	58.27	55.74
Total Debt/Equity (%)	- -	5.83	76.67	132.39	184.15	215.37	182.39	172.99	212.48	175.88
Total Debt/Capital (%)	- -	1,740	130.13	149.98	186.25	227.57	585.87	460.3	245.33	226.32
Total Debt/Total Assets (%)	- -	5.2	40.35	52.23	60.21	62.22	54.55	55.26	61.72	59.31
CFO/Total Liabilities	- -	-103.07	-9.8	-4.48	-2.57	-2.69	2.97	-2.42	3.19	10.48
CFO/CapEx	- -	-0.2	-0.34	-0.33	-1.29	-3.12	0.75	-0.44	0.19	2.02
Altman's Z-Score	1.04	-0.08	0.05	0.01	-0.38	-0.41	-0.37	0.43	0.41	0.5

Working Capital (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
Accounts Receivable Turnover	- -	- -	13.14	10.23	9.75	9.54	12.41	15.56	8.4	5.43
Days Sales Outstanding	- -	- -	27.78	35.67	37.45	38.24	29.4	23.46	43.43	67.24
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	4.42	10.8	10.26	6.83	4.34	2.83	2.82	2.24	2.56
Accounts Payable Turnover Days	- -	82.64	33.79	35.57	53.4	84.08	129.08	129.34	162.89	142.3
Cash Conversion Cycle	- -	-82.64	-6.01	0.1	-15.95	-45.84	-99.68	-105.87	-119.46	-75.06
Inventory to Cash Days	- -	- -	27.78	35.67	37.45	38.24	29.4	23.46	43.43	67.24
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (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
Market Capitalization	- -	- -	630	973	123	278	887	1,798	978	1,057
- Cash & Cash Equivalents	138	164	28	59	19	35	108	102	62	380
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	2	2	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	87	1,176	1,713	1,909	1,917	1,638	1,702	2,111	2,150
Enterprise Value	-138	-79	1,775	2,627	2,013	2,159	2,416	3,398	3,027	2,828
Total Capital	- -	5	904	1,142	1,025	842	280	370	860	950
Total Debt/Capital (%)	- -	1,740	130.13	149.98	186.25	227.57	585.87	460.3	245.33	226.32
Total Debt / EV	- -	-1.1	0.66	0.65	0.95	0.89	0.68	0.5	0.7	0.76
EV/Sales	- -	- -	10.77	7.86	6.55	8.8	5.44	4.4	3	2.77
EV/EBITDA	- -	- -	- -	- -	- -	71.74	17	9.25	6	6.02
EV/EBIT	- -	- -	- -	- -	- -	- -	94.38	13.6	8.1	8.79
EV/Cash Flow to Firm	- -	- -	- -	- -	53.96	55.48	12.31	290.39	15.51	7.73
EV/Free Cash Flow to Firm	- -	- -	6.52	10.26	25.25	37.35	8.64	27.03	5.01	5.77
Diluted Market Cap	- -	- -	630	973	123	278	887	1,826	992	1,066
Diluted Enterprise Value	-138	-75	1,780	2,627	2,013	2,159	2,416	3,426	3,041	2,837
EV per Share	- -	- -	34.52	48.88	26.77	16.03	13.54	13.91	12.07	10.78
TTM Sales	- -	- -	165	334	308	245	444	772	1,011	1,021
TTM EBITDA	- -	-57	-78	-44	-12	30	142	367	505	470
TTM Operating Income	- -	-78	-158	-146	-130	-90	26	250	374	322
TTM Cash Flow to Firm	- -	-184	-121	-16	37	39	196	12	195	366
TTM Free Cash Flow to Firm	- -	721	272	256	80	58	280	126	605	490

Multiples (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
Price/Free Cash Flow	- -	- -	2.44	5.32	-9.88	-6.94	6.08	28.85	2.04	2.83
EV/EBIT	- -	- -	- -	- -	- -	- -	94.38	13.6	8.1	8.79
Enterprise Value	-138	-79	1,775	2,627	2,013	2,159	2,416	3,398	3,027	2,828
Low Price	- -	- -	12.25	8.5	0.49	1.12	1.75	4.51	3.29	1.55
EV/Sales	- -	- -	10.77	7.86	6.55	8.8	5.44	4.4	3	2.77
EV/EBITDA	- -	- -	- -	- -	- -	71.74	17	9.25	6	6.02
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	81.35	11.92	23.49
Price/Earnings Average	- -	- -	-6.83	-2.72	-0.77	-1.34	-2.39	76.85	17.52	15.6
Price/Earnings High	- -	- -	-14.45	-5.83	-4.32	-2.33	-4.24	99.59	22.83	26.12
Price/Earnings Low	- -	- -	-3.31	-1.53	-0.11	-0.78	-1.07	49.85	10.05	9.04
Price/Book Value	- -	- -	-2.3	-1.7	-0.14	-0.26	-0.65	-1.35	-0.78	-0.88
Price/Book Value Average	- -	- -	-4.75	-1.42	-0.28	-0.24	-0.52	-1.27	-1.15	-0.59
Price/Book Value High	- -	- -	-10.05	-3.04	-1.55	-0.42	-0.91	-1.65	-1.5	-0.98
Price/Book Value Low	- -	- -	-2.3	-0.8	-0.04	-0.14	-0.23	-0.83	-0.66	-0.34
Price/Tangible Book Value	- -	- -	0.41	0.75	0.12	0.31	0.99	1.83	0.99	0.86
Price/Tangible Book Value Average	- -	- -	0.85	0.63	0.24	0.29	0.78	1.73	1.45	0.57
Price/Tangible Book Value High	- -	- -	1.79	1.34	1.32	0.51	1.38	2.24	1.89	0.96
Price/Tangible Book Value Low	- -	- -	0.41	0.35	0.04	0.17	0.35	1.12	0.83	0.33
Price/Sales	- -	- -	3.82	2.91	0.4	1.13	2	2.33	0.97	1.04
Price/Sales Average	- -	- -	7.89	2.42	0.8	1.05	1.58	2.2	1.42	0.69
Price/Sales High	- -	- -	16.69	5.2	4.46	1.83	2.8	2.85	1.85	1.15
Price/Sales Low	- -	- -	3.82	1.37	0.12	0.62	0.7	1.43	0.82	0.4
Price/Cash Flow	- -	- -	-4.66	-10.93	-2.24	-4.71	14.19	-35.46	12.66	4.2
Price/Cash Flow Average	- -	- -	-9.62	-9.09	-4.47	-4.38	11.19	-33.5	18.6	2.79
Price/Cash Flow High	- -	- -	-20.35	-19.5	-25.02	-7.64	19.87	-43.41	24.25	4.67
Price/Cash Flow Low	- -	- -	-4.66	-5.13	-0.67	-2.56	5	-21.73	10.68	1.61
Price/Free Cash Flow Average	- -	- -	5.03	4.43	-19.74	-6.45	4.8	27.26	3	1.88
Price/Free Cash Flow High	- -	- -	10.65	9.5	-110.58	-11.25	8.52	35.32	3.91	3.15
Price/Free Cash Flow Low	- -	- -	2.44	2.5	-2.94	-3.77	2.14	17.68	1.72	1.09
EV/Sales Average	- -	- -	14.86	7.37	6.94	8.72	5.02	4.27	3.45	2.42
EV/Sales High	- -	- -	23.66	10.15	10.61	9.51	6.24	4.93	3.88	2.89
EV/Sales Low	- -	- -	10.79	6.32	6.27	8.29	4.15	3.5	2.84	2.13
EV/EBITDA Average	- -	1.31	-31.37	-55.49	-177.91	71.08	15.69	8.98	6.91	5.26
EV/EBITDA High	- -	1.31	-49.95	-76.35	-271.78	77.46	19.5	10.35	7.77	6.27
EV/EBITDA Low	- -	1.31	-22.79	-47.55	-160.55	67.53	12.96	7.36	5.69	4.63
EV/EBIT Average	- -	0.96	-15.55	-16.9	-16.43	-23.91	87.07	13.2	9.33	7.68
EV/EBIT High	- -	0.96	-24.76	-23.25	-25.11	-26.05	108.25	15.21	10.5	9.15
EV/EBIT Low	- -	0.96	-11.29	-14.48	-14.83	-22.71	71.94	10.81	7.69	6.77
Last Price	- -	- -	12.25	18.1	1.63	2.06	4.97	7.36	3.9	4.03
High Price	- -	- -	53.5	32.3	18.24	3.34	6.96	9.01	7.47	4.48
Enterprise Value Average	-138	-75	2,450	2,464	2,135	2,140	2,229	3,298	3,487	2,473
Enterprise Value High	-138	-75	3,901	3,390	3,261	2,332	2,771	3,801	3,923	2,946
Enterprise Value Low	-138	-75	1,780	2,111	1,927	2,033	1,842	2,701	2,874	2,177

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	31	49	53	55	109	137	229	253	245	307
Diluted Weighted Avg Shares	- -	26	51	54	75	135	178	248	254	265
Basic Weighted Avg Shares	- -	26	51	54	75	135	178	244	251	262
Revenue per Share	- -	- -	3.21	6.22	4.09	1.82	2.49	3.16	4.03	3.89
EBITDA per Share	- -	-2.21	-1.52	-0.83	-0.16	0.22	0.8	1.5	2.01	1.79
Operating Income per Share	- -	-3.03	-3.06	-2.71	-1.73	-0.66	0.14	1.02	1.49	1.23
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 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
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	0.3	0.02
Cash Flow per Share	- -	-7.15	-2.63	-1.66	-0.73	-0.44	0.35	-0.21	0.31	0.96
Free Cash Flow per Basic Share	- -	-42.14	-10.28	-6.71	-1.29	-0.58	-0.12	-0.67	-1.32	0.49
Cash & Equivalents per Share	- -	6.51	0.62	1.1	0.26	0.26	0.61	0.42	0.25	1.45
Book Value per Share	- -	-3.25	-5.32	-10.63	-11.76	-7.97	-7.61	-5.45	-4.98	-4.58
Tangible Book Value per Share	- -	57.72	29.81	24.08	13.79	6.61	5.03	4.03	3.96	4.66

Borr Drilling Limited

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)