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Offshore drilling contractor operating jackup rigs, drillships and semisubmersibles for oil and gas exploration.
Offshore drilling contractor operating jackup rigs, drillships and semisubmersibles for oil and gas exploration.
Rents rigs and crews to oil companies at a daily rate under contracts lasting from months to years, so income depends on how many rigs are working and the day rate each wins. A joint venture with Saudi Aramco, ARO Drilling, runs rigs in Saudi Arabia. It emerged from bankruptcy in 2021 with a slimmer balance sheet.
Moat: none (installed base). Diversified rig fleet, but pricing is set by offshore drilling supply/demand cycles.
Headquarters: Hamilton, Bermuda · Founded: 2019 · Employees: 5,070
Size Valaris (VAL) is a United States Energy company (Contract Drilling) with a market value of $5.54B, the 1112th largest of 3,117 United States companies the cockpit tracks. Shares closed at $79.77 on 6 Nov 2026.
Performance Over six months the shares fell 16.1%, against -14.5% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 8 in its peer set.
Growth Revenue fell 11.6% over the last twelve months (peer median +4.0%); the operating margin is 11.0% (peer median 11.3%).
Valuation It trades at 11.1× forward earnings against a peer median of 15.8× (2nd cheapest of 8).
Capital Return on invested capital runs 4.5 points below its cost of capital (9.2% WACC).
Backlog Backlog (remaining performance obligations) was $208M at 30 Sep 2026, up 52% on a year earlier — 0.1 years of trailing revenue. Backlog detail →
Short interest Short interest is 7.6% of the free float (15 Oct 2026).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.14B | $2.37B | $2.36B | $1.78B | $1.60B |
| Revenue growth | — | 0% | +32% | +11% | — |
| Gross profit | $341M | $593M | $480M | $140M | $128M |
| EBITDA | $411M | $642M | $485M | $141M | $138M |
| Net income | $798M | $983M | $373M | $865M | $176M |
| Free cash flow | -$211M | $203M | -$99.7M | -$429M | -$79.5M |
| Capital expenditure | $431M | $344M | $455M | $696M | $207M |
| Total debt | $1.16B | $1.16B | $1.17B | $1.16B | $552M |
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 |
|---|---|---|---|---|---|---|
| Valaris VAL | $5.54B | -16% | -12% | 11% | 11.1× | n/a |
| Transocean RIG | $5.85B | -18% | +4% | 21% | 19.4× | 3.8% |
| Noble NE | $6.53B | -18% | -13% | 11% | 36.8× | 19.0% |
| Borr Drilling BORR | $1,000M | -45% | +3% | 21% | n/a | n/a |
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 | VAL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.0% | -3.0% | 4th lowest of 8 |
| 6-month return | -16.1% | -14.5% | 3rd lowest of 8 |
| Distance from 52-week high | -30.1% | -26.9% | 4th lowest of 8 |
| Revenue growth (TTM) | -11.6% | +4.0% | 2nd lowest of 8 |
| Operating margin | 11.0% | 11.3% | 4th lowest of 8 |
| Forward P/E | 11.1× | 15.8× | 2nd cheapest of 8 |
| ROIC minus cost of capital | -4.5 pp | -3.7 pp | 4th lowest of 8 |
| EV / EBITDA | 15.0× | 7.0× | most expensive of 7 |
| Net debt / EBITDA | 1.5× | 1.9× | 3rd least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Valaris VAL | United States | $5.54B | -16% | -12% | 11% | 11.1× | n/a | n/a |
| Transocean RIG | United States | $5.85B | -18% | +4% | 21% | 19.4× | 3.8% | +4.7% |
| Sinopec Oilfield Service 1033.HK | Hong Kong | $4.72B | -14% | +3% | 2% | 13.8× | 12.0% | +2.7% |
| Noble NE | United States | $6.53B | -18% | -13% | 11% | 36.8× | 19.0% | +27.8% |
| China Oilfield Services 601808.SS | China | $7.30B | -16% | +3% | 12% | 14.1× | -16.5% | +11.7% |
| Helmerich & Payne HP | United States | $3.52B | -7% | +17% | 3% | 26.3× | 19.9% | +16.1% |
| Seadrill SDRL | United States | $2.63B | -13% | +17% | 10% | 15.8× | 16.0% | +6.3% |
| Odfjell Drilling ODL.OL | Norway | $2.57B | +4% | +11% | 23% | 10.0× | n/a | n/a |
Valaris reported $208M of remaining performance obligations at 30 Sep 2026, up 52% from a year earlier and up 9% from the previous quarter. That is 0.1 years of trailing revenue already under contract. Book-to-bill last quarter: 1.03.