Seadrill Ltd cash flow statement

In fiscal 2025, Seadrill Ltd's operations generated −$28.0m of cash; it spent $0 on capital projects, leaving free cash flow of −$28.0m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Seadrill Ltd: cash flow statement, annual
Fiscal year	2017Dec 2017	2019Dec 2019	2020Dec 2020	2021Dec 2021	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash from operations	399	−256	−420	−154	287	88	−28	−52
Depreciation and amortisation	798	426	319	127	155	168	238	270
Stock-based pay	7	5	8	0	8	17	20	17
Capital spending	150	162	137	84	0	0	0	0
Free cash flow	249	−418	−557	−238	287	88	−28	−52
Free cash flow after stock pay	242	−423	−565	−238	279	71	−48	−69
Share buybacks	—	—	—	0	263	532	0	—
Shares issued	0	0	0	—	—	—	—	—

US$ millions unless shown otherwise. Fiscal quarters.

Seadrill Ltd: cash flow statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Cash from operations	−27	7	−27	11	28	−40	−22	−18
Depreciation and amortisation	42	45	55	56	58	69	71	72
Stock-based pay	5	5	4	5	5	6	1	5

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Seadrill Ltd's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Seadrill Ltd.