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Norwegian offshore drilling contractor operating semi-submersible rigs and drilling management services, mainly in the North Sea.
Norwegian offshore drilling contractor operating semi-submersible rigs and drilling management services, mainly in the North Sea.
Rigs are hired out at a fixed daily rate under contracts of up to several years, so revenue depends on how many days the rigs work and on the rate fixed at each signing. It also runs drilling for other owners on a management-fee basis. A holding company of the Odfjell family is the largest shareholder.
In one line: A Norwegian offshore drilling rig operator.
Moat: narrow (installed base, scale). High-spec harsh-environment rig fleet with long-term contracts is costly to replicate.
Headquarters: Bergen, Norway · Founded: 1972
Size Odfjell Drilling (ODL.OL) is a Norway Energy company (Contract Drilling) with a market value of $2.57B, the 37th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 99.50 on 6 Nov 2026.
Performance Over six months the shares gained 4.2%, against -16.1% for the median peer and +2.7% for the Norway market (cap-weighted) — 2nd highest of 12 in its peer set.
Growth Revenue grew 11.0% over the last twelve months (peer median +4.0%); the operating margin is 23.4% (peer median 10.0%).
Valuation It trades at 10.0× forward earnings against a peer median of 19.2× (cheapest of 11).
Capital Return on invested capital runs 0.2 points below its cost of capital (8.4% WACC).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 10.1B | NOK 9.36B | NOK 8.34B | NOK 7.74B | NOK 6.25B |
| Revenue growth | — | +12% | +8% | +24% | — |
| Gross profit | NOK 2.37B | NOK 2.80B | NOK 2.28B | NOK 3.87B | NOK 1.83B |
| EBITDA | NOK 4.64B | NOK 4.68B | NOK 3.71B | NOK 3.47B | NOK 2.96B |
| Net income | NOK 2.24B | NOK 1.80B | NOK 696M | NOK 2.35B | NOK 637M |
| Free cash flow | -NOK 1.81B | -NOK 2.24B | NOK 1.67B | NOK 2.10B | NOK 2.01B |
| Capital expenditure | NOK 5.90B | NOK 6.41B | NOK 1.42B | NOK 700M | NOK 641M |
| Total debt | NOK 9.08B | NOK 10.7B | NOK 7.56B | NOK 7.87B | NOK 8.97B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Odfjell Drilling ODL.OL | $2.57B | +4% | +11% | 23% | 10.0× | n/a |
| Transocean RIG | $5.85B | -18% | +4% | 21% | 19.4× | 3.8% |
| Valaris VAL | $5.54B | -16% | -12% | 11% | 11.1× | n/a |
| Noble NE | $6.53B | -18% | -13% | 11% | 36.8× | 19.0% |
| Seadrill SDRL | $2.63B | -13% | +17% | 10% | 15.8× | 16.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ODL.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.1% | -5.4% | 3rd highest of 12 |
| 6-month return | +4.2% | -16.1% | 2nd highest of 12 |
| Distance from 52-week high | -11.2% | -30.1% | highest of 12 |
| Revenue growth (TTM) | +11.0% | +4.0% | 4th highest of 12 |
| Operating margin | 23.4% | 10.0% | highest of 12 |
| Forward P/E | 10.0× | 19.2× | cheapest of 11 |
| ROIC minus cost of capital | -0.2 pp | -3.7 pp | 3rd highest of 12 |
| EV / EBITDA | 7.0× | 7.1× | 5th cheapest of 10 |
| Net debt / EBITDA | 1.9× | 1.7× | 5th most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Odfjell Drilling ODL.OL | Norway | $2.57B | +4% | +11% | 23% | 10.0× | n/a | n/a |
| Seadrill SDRL | United States | $2.63B | -13% | +17% | 10% | 15.8× | 16.0% | +6.3% |
| Helmerich & Payne HP | United States | $3.52B | -7% | +17% | 3% | 26.3× | 19.9% | +16.1% |
| Sinopec Oilfield Service 600871.SS | China | $4.69B | -23% | +2% | 2% | 52.2× | -10.7% | +3.5% |
| Valaris VAL | United States | $5.54B | -16% | -12% | 11% | 11.1× | n/a | n/a |
| Precision Drilling PD.TO | Canada | $1.16B | +6% | +8% | 7% | 11.4× | 11.6% | +14.5% |
| Transocean RIG | United States | $5.85B | -18% | +4% | 21% | 19.4× | 3.8% | +4.7% |
| Nabors Industries NBR | United States | $1.11B | -25% | +5% | 8% | 19.1× | 4.0% | +8.3% |
| Noble NE | United States | $6.53B | -18% | -13% | 11% | 36.8× | 19.0% | +27.8% |
| Borr Drilling BORR | United States | $1,000M | -45% | +3% | 21% | n/a | n/a | n/a |
| China Oilfield Services 601808.SS | China | $7.30B | -16% | +3% | 12% | 14.1× | -16.5% | +11.7% |
| Major Drilling Group International MDI.TO | Canada | $893M | -5% | +23% | 6% | 23.1× | 21.7% | +15.5% |