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Valaris Ltd (VAL) stock

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NYSE: VAL NYSE Oil & Gas Drilling Next results ~February 18, 2027

C+ Fundamentals grade

Valaris Ltd is a US-listed company in the oil & gas drilling industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$190

Valuation models combined (3)

Base case. Range ~$140–$220. Weighted average of 3 models (forward price-to-earnings vs peers, residual income, justified price-to-book).

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valaris Ltd valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds137 adding, 200 cuttingOf 54 active managers that changed their stake, 28 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Next results ~February 18, 2027 (estimated)

Valaris Ltd's trailing-twelve-month revenue fell 11.6% year on year, with a free-cash-flow margin of -9.7%. Where it stands out: net margin of 37.3% ranks 1 of 7 oil & gas drilling companies we cover. Where it lags: stock pay as % of revenue of 1.5% ranks 6 of 6 oil & gas drilling companies we cover.

Current signal Net income rising while operating cash flow falls: TTM net income grew 99.9% while operating cash flow fell 62.0% — earnings and cash are telling different stories.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 1.5% in a year, so each share owns more of the business.

Things to watch

  • Revenue shrinking. Revenue fell 11.6% over the last 12 months.
  • Margins narrowing. Operating margin is down 14.1 points on a year ago.
  • Burning cash. Free cash flow was -9.7% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 60% and a beta of 0.4 against the S&P 500.
  • Gross margin slipping. Gross margin is down 8.3 points on a year ago.
  • Weak cash conversion. Free cash flow was -26% of net income over the last 12 months.

Latest results: FY2026 Q3

Filed November 3, 2026
Earnings per share
$0.66 against an average estimate of $1.06: missed by 37.9%
Revenue
$594m, down 0.4% on a year earlier
Next report
November 2, 2026; average EPS estimate $1.71

Valaris' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-10.1%
  • 1 week-4.5%
  • 1 month+20.8%
  • This year+87.9%
  • 1 year+68.7%
  • 5 years+174.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.1B
Operating margin
9.0%
Net margin
37.3%
EPS (TTM, diluted)
$11.39

Growth

Revenue growth
−11.6%
Change in growth rate
+1.6 pts
Share count change
−1.5%

Cash

Free cash flow (TTM)
-$207M
FCF margin
-9.7%
Stock pay % of revenue
1.5%

Earnings

Last results
November 2, 2026
Next results (est.)
February 18, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Announcement
  4. Announcement
  5. Announcement
  6. Announcement
  7. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Valaris Ltd valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Valaris Ltd as an operating company, with every model that fits that kind of business. Cost of equity 8.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.76 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$13 ~$7.7–$15 Left out: out of range vs price (0.14x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$140 ~$120–$160 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$220 ~$170–$310 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$200 ~$170–$250 Included
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: earnings are positive: price-to-earnings is the better measure
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$190 ~$140–$220 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Valaris Ltd with Oil & Gas Drilling in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2022202320242025Now
Share price$67.62$68.57$44.24$50.40$94.69
Market value$5.1bn$5.2bn$3.2bn$3.6bn$6.6bn
+ Net debt (− = net cash)−$182m$459m$715m$487m$563m
Enterprise value$4.9bn$5.6bn$3.9bn$4.1bn$7.2bn
Multiples
Price / sales 3.2x2.9x1.4x1.5x3.1x
Price / earnings 29.0x6.0x8.6x3.6x8.3x
Price / free cash flow ———17.6x—
EV / EBITDA 38.4x36.3x8.3x6.5x—

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

26 /100

Weak moat

How hard Valaris's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 0.6% of total assets over 10 years.

  • Pricing power 4 / 20

    Gross margin has been a median 22.7%, moving by 6.8 percentage points (standard deviation) across 6 years.

  • Durability 0 / 20

    Operating margin has been a median 0.8%; its worst year was -265.3%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 2 of 8 years, at a median -17.9% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 64.2% over five years; stock-based pay has been a median 1.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.45 −75% $2.2bn −7%
Next $6.68 +93% $2.5bn +13%

Next year's EPS estimate has moved −7.8% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.4% on 90 days ago. In the last 30 days, 0 analysts raised Valaris Ltd's forecast and 1 cut it.

Consensus EPS forecast Valaris Ltd, last 90 days
$2.00 $4.00 $6.00 $8.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.47 Current fiscal year, 60 days ago: $3.22 Current fiscal year, 30 days ago: $3.46 Current fiscal year, 7 days ago: $3.46 Current fiscal year, Now: $3.45 $3.45 Next fiscal year, 90 days ago: $7.24 Next fiscal year, 60 days ago: $7.11 Next fiscal year, 30 days ago: $7.01 Next fiscal year, 7 days ago: $7.01 Next fiscal year, Now: $6.68 $6.68

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.47$7.24
60 days ago $3.22$7.11
30 days ago $3.46$7.01
7 days ago $3.46$7.01
Now $3.45$6.68

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.06 $0.66 −37.9%
Jun 2026 $0.18 $0.72 +295.4%
Mar 2026 −$0.09 −$0.24 −174.1%
Dec 2025 $0.42 $10.26 +2355.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

9 analysts, Nov 2026
Buy111%
Hold778%
Sell111%

Monthly trend

  1. Nov 20261719
  2. Oct 20261719
  3. Sep 2026819
  4. Aug 2026819

Counts of recommendations published by analysts covering Valaris Ltd, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.9%
of tradable shares
Days to cover
4.85
at average volume
Short interest, 1 month
−11%
to October 15, 2026
Held by institutions
89%
of shares
Held by insiders
12.1%
of shares
Employees
3,800
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +68.7%

$56.12 on October 31, 2025 to $94.69

ThenNowEffect
Revenue (last 12 months) $2.5bn $2.1bn −13.2%
Net margin 11.2% 44.0% +293.0%
P/E multiple 14.6x 7.1x −51.5%
Share count 72m 70m +2.0%

Biggest factor: net margin.

Last 3 years +37.0%

$69.13 on November 3, 2023 to $94.69

ThenNowEffect
Revenue (last 12 months) $1.7bn $2.1bn +24.6%
Net margin 7.0% 44.0% +524.4%
P/E multiple 43.3x 7.1x −83.7%
Share count 76m 70m +7.9%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
VAL+88%+1%−36%+14%+88%
Industry peers (median)+96%+30%−30%−5%+51%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
VAL58%33%33%67%64%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
VAL−38%−30%−49%−42%−36%
S&P 500−25%−10%−8%−19%−9%

Worst fall since May 3, 2021: 64% from July 15, 2024 to April 8, 2025. Getting back needed a 176% gain, reached on February 9, 2026, 307 days after the low.

Price behaviour

52-week range
$49.03 – $113.42
From 52-week high
−16.5%
vs 50-day average
+9.3%
vs 200-day average
+9.7%
Volatility (1 year)
60%
Beta vs S&P 500
0.39

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 5 down
typical move ±4.2%
After a week
5 up, 6 down
typical move ±9.3%
After a month
5 up, 6 down
typical move ±9.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −1.2% −0.4% +9.0% +14.8%
May 4, 2026 −9.2% +0.4% −4.8% −9.9%
February 19, 2026 +5.2% +0.5% +3.9% +1.7%
October 29, 2025 +2.1% −1.1% −6.0% −0.2%
July 30, 2025 −4.5% −0.5% −5.5% −3.6%
April 30, 2025 +6.2% +0.7% +8.5% +12.4%
February 19, 2025 −0.5% −0.2% −17.1% −9.9%
October 30, 2024 +4.3% −2.3% +7.8% −4.8%
July 31, 2024 −4.9% +0.2% −18.8% −21.9%
May 2, 2024 +6.5% +2.2% +16.4% +14.4%
February 22, 2024 +1.6% +2.1% −4.6% +11.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Valaris Ltd in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Valaris Ltd
$1.6B $1.8B $2B $2.2B $2.4B $2.6B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $1.8B Revenue (TTM), FY24 Q1: $1.9B Revenue (TTM), FY24 Q2: $2.1B Revenue (TTM), FY24 Q3: $2.3B Revenue (TTM), FY24 Q4: $2.4B Revenue (TTM), FY25 Q1: $2.5B Revenue (TTM), FY25 Q2: $2.5B Revenue (TTM), FY25 Q3: $2.4B Revenue (TTM), FY25 Q4: $2.4B Revenue (TTM), FY26 Q1: $2.2B Revenue (TTM), FY26 Q2: $2.1B Revenue (TTM), FY26 Q3: $2.1B $2.1B

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $1.8B
FY24 Q1 $1.9B
FY24 Q2 $2.1B
FY24 Q3 $2.3B
FY24 Q4 $2.4B
FY25 Q1 $2.5B
FY25 Q2 $2.5B
FY25 Q3 $2.4B
FY25 Q4 $2.4B
FY26 Q1 $2.2B
FY26 Q2 $2.1B
FY26 Q3 $2.1B
Revenue growth, TTM YoY Valaris Ltd
-20% 0% 20% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 11.3% Revenue growth, TTM YoY, FY24 Q1: 9.6% Revenue growth, TTM YoY, FY24 Q2: 20.9% Revenue growth, TTM YoY, FY24 Q3: 30.4% Revenue growth, TTM YoY, FY24 Q4: 32.4% Revenue growth, TTM YoY, FY25 Q1: 30.8% Revenue growth, TTM YoY, FY25 Q2: 18.8% Revenue growth, TTM YoY, FY25 Q3: 6.8% Revenue growth, TTM YoY, FY25 Q4: 0.3% Revenue growth, TTM YoY, FY26 Q1: -9.9% Revenue growth, TTM YoY, FY26 Q2: -13.2% Revenue growth, TTM YoY, FY26 Q3: -11.6% -11.6%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 11.3%
FY24 Q1 9.6%
FY24 Q2 20.9%
FY24 Q3 30.4%
FY24 Q4 32.4%
FY25 Q1 30.8%
FY25 Q2 18.8%
FY25 Q3 6.8%
FY25 Q4 0.3%
FY26 Q1 -9.9%
FY26 Q2 -13.2%
FY26 Q3 -11.6%
Operating margin (TTM) Valaris Ltd
0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 3.0% Operating margin (TTM), FY24 Q1: 4.0% Operating margin (TTM), FY24 Q2: 9.3% Operating margin (TTM), FY24 Q3: 12.0% Operating margin (TTM), FY24 Q4: 14.9% Operating margin (TTM), FY25 Q1: 19.0% Operating margin (TTM), FY25 Q2: 21.2% Operating margin (TTM), FY25 Q3: 23.0% Operating margin (TTM), FY25 Q4: 20.1% Operating margin (TTM), FY26 Q1: 16.0% Operating margin (TTM), FY26 Q2: 11.3% Operating margin (TTM), FY26 Q3: 9.0% 9.0%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 3.0%
FY24 Q1 4.0%
FY24 Q2 9.3%
FY24 Q3 12.0%
FY24 Q4 14.9%
FY25 Q1 19.0%
FY25 Q2 21.2%
FY25 Q3 23.0%
FY25 Q4 20.1%
FY26 Q1 16.0%
FY26 Q2 11.3%
FY26 Q3 9.0%
FCF margin (TTM) Valaris Ltd
-40% -20% 0% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -24.0% FCF margin (TTM), FY24 Q1: -34.5% FCF margin (TTM), FY24 Q2: -31.2% FCF margin (TTM), FY24 Q3: -21.2% FCF margin (TTM), FY24 Q4: -4.2% FCF margin (TTM), FY25 Q1: 3.3% FCF margin (TTM), FY25 Q2: 9.4% FCF margin (TTM), FY25 Q3: 10.3% FCF margin (TTM), FY25 Q4: 8.6% FCF margin (TTM), FY26 Q1: 5.5% FCF margin (TTM), FY26 Q2: -1.1% FCF margin (TTM), FY26 Q3: -9.7% -9.7%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -24.0%
FY24 Q1 -34.5%
FY24 Q2 -31.2%
FY24 Q3 -21.2%
FY24 Q4 -4.2%
FY25 Q1 3.3%
FY25 Q2 9.4%
FY25 Q3 10.3%
FY25 Q4 8.6%
FY26 Q1 5.5%
FY26 Q2 -1.1%
FY26 Q3 -9.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

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

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 2,776 1,843 1,705 2,053 1,427 1,603 1,784 2,363 2,369 2,136
Gross profit — 654 386 247 — 219 241 602 739 516
EBITDA — — 243 −60 −3,794 128 155 474 623 —
Operating income 929 −132 −236 −670 −4,335 37 54 352 477 192
Net income 890 −304 −640 −198 −4,856 177 865 373 983 798
Diluted EPS $3.13 −$3.66 −$5.90 −$1.14 −$24.42 $2.33 $11.51 $5.12 $13.86 $11.39
Growth (year on year)
Revenue — −33.6% −7.5% +20.4% −30.5% +12.3% +11.3% +32.4% +0.3% −11.6%
EBITDA — — — −124.7% — — +20.4% +206.9% +31.4% —
Operating income — −114.2% — — — — +43.8% +558.5% +35.4% −65.6%
Net income — −134.1% — — — — +390.3% −56.9% +163.2% +99.9%
Diluted EPS — −216.9% — — — — +394.0% −55.5% +170.7% +102.9%
Margins
Gross margin — 35.5% 22.6% 12.0% — 13.7% 13.5% 25.5% 31.2% 24.2%
EBITDA margin — — 14.2% −2.9% −265.8% 8.0% 8.7% 20.1% 26.3% —
Operating margin 33.5% −7.2% −13.8% −32.6% −303.7% 2.3% 3.0% 14.9% 20.1% 9.0%
Net margin 32.1% −16.5% −37.5% −9.6% −340.2% 11.0% 48.5% 15.8% 41.5% 37.3%
Free-cash-flow margin 27.2% −15.0% −28.3% −24.5% −24.2% −5.0% −24.0% −4.2% 8.6% −9.7%
Cash flow
Cash from operations 1,077 259 −56 −277 −252 127 268 355 546 228
Capital spending 322 537 427 227 94 207 696 455 344 434
Free cash flow 755 −277 −482 −504 −346 −80 −429 −100 203 −207
Stock-based pay 40 34 30 37 21 17 27 28 25 33
Free cash flow after stock pay 716 −312 −512 −541 −367 −97 −456 −127 178 −240
Balance sheet
Cash 1,160 445 275 97 326 724 621 368 599 525
Total debt 6,050 4,751 5,161 6,528 6,515 542 1,079 1,083 1,086 1,089
Net debt (negative = net cash) 4,890 4,305 4,886 6,431 6,190 −182 459 715 487 563
Diluted shares 279m 83m 109m 173m 199m 76m 75m 73m 71m 70m
Returned to shareholders
Dividends 12 14 18 5 0 — — — — —
Buybacks — — — — — 0 199 126 100 —
Total returned 12 14 18 5 0 0 199 126 100 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 6 checks passed · September 30, 2026
What it owns · $5.5bn
Short-term assets $1.3bnLonger-term assets $4.2bn
What it owes, and who funded it · $5.5bn
Short-term liabilities $769mLonger-term liabilities $1.4bnShareholders' equity $3.3bn
  • Short-term assets cover short-term liabilities $1.3bn of assets due within a year against $769m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.3bn short-term assets against $1.4bn of longer-dated liabilities.
  • More cash than debt $525m of cash against $1.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 33% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 53% to 33% over five years.
  • A year's operating cash flow covers at least 20% of debt $228m of operating cash flow against $1.1bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Valaris Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$425M
Diluted share count
−1.5%
year over year

Competitors: side by side with peers

Closest by revenue in oil & gas drilling
Last 12 months unless stated VAL SDRL NE PDS HP BORR Median
Revenue, last 12 months $2.1bn $1.5bn $3.0bn $1.3bn $4.0bn $1.0bn $2.1bn
Revenue growth, last 12 months −11.6% 13.1% −13.0% −5.0% 16.6% 1.0% 0.0%
Revenue growth, 3-year average 7.2% — 5.3% — 12.0% — 9.6%
Revenue growth, latest quarter −0.4% 19.1% −8.7% — −0.6% — −0.4%
Gross margin 24.2% — — 32.8% — — 28.5%
Operating margin 9.0% 7.8% 12.0% 31.5% 2.3% 31.6% 9.0%
Operating margin, 3-year average 14.7% −151.2% 16.3% — 7.3% <−999% 1.4%
Net margin 37.3% 0.1% 1.8% 0.1% −3.4% 4.4% 0.1%
Cash from operations / revenue 10.7% −3.4% 25.0% 22.4% 14.5% 24.7% 16.9%
Free-cash-flow margin −9.7% −21.0% 3.2% 8.1% 7.9% 16.0% 5.5%
Free-cash-flow margin, 3-year average −6.8% −32.1% 7.6% 5.3% 5.8% <−999% 5.3%
Stock pay / revenue 1.5% 1.1% 1.0% — 0.9% 1.1% 1.1%
Change in share count −1.5% −2.3% −0.8% −6.3% 0.5% 4.0% −1.3%

Median of all 7 companies we cover in oil & gas drilling. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

7 oil & gas drilling companies
Measure Company Peer median Rank
Revenue growth Growth -11.6% 0.0% 6 of 7
Change in growth rate Growth +1.6pp -1.7pp 3 of 7
Operating margin Profitability 9.0% 9.0% 3 of 6
Net margin Profitability 37.3% 0.1% 1 of 7
Free-cash-flow margin Cash generation -9.7% 5.5% 6 of 7
Stock pay as % of revenue Cash generation 1.5% 1.1% 6 of 6
Long-term debt as % of assets Balance sheet 19.9% 24.9% 2 of 7
Change in share count Balance sheet -1.5% -1.3% 3 of 7

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Floaters $1.3B ▼ 12.5%
Jackups $913M ▲ 20.9%
ARO $571M ▲ 11.4%
All Other Segments $196M ▲ 17.1%

These categories overlap or exclude eliminations, so shares aren't shown.

From Valaris Ltd's 10-K filed February 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4.6B
Institutions reporting
332
Shares held vs prior quarter
▲ 1.4%
Positions opened / closed
39 / 61

Top buyers and sellers, Q2 2026: 137 institutions bought and 200 sold ; the biggest buyer was HBK Investments L P (+1.6M shares) and the biggest seller Lingotto Investment Management LLP (−1.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $596M 8.2M 13.1% ▼ 0.1%
Oak Hill Advisors LP $284M 3.9M 6.2% ▼ 18.5%
Dimensional Fund Advisors LP $247M 3.4M 5.4% ▲ 1.6%
Vanguard Portfolio Management LLC $211M 2.9M 4.6% ▲ 0.7%
Vanguard Capital Management LLC $189M 2.6M 4.1% ▲ 0.3%
State Street Corp $183M 2.5M 4.0% ▲ 1.0%
Lingotto Investment Management LLP $175M 2.4M 3.8% ▼ 34.9%
Morgan Stanley $164M 2.3M 3.6% ▲ 8.8%
Geode Capital Management, LLC $162M 2.1M 3.5% ▲ 26.2%
Goldman Sachs Group Inc $138M 1.9M 3.0% ▲ 6.8%
American Century Companies Inc $117M 1.6M 2.6% ▼ 4.1%
HBK Investments L P $114M 1.6M 2.5% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Valaris Ltd's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Valaris Ltd disclosed in the last 12 months; 2 earlier trades on record.

  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded June 29, 2023, filed August 13, 2023
  • Daniel S. Goldman(D-NY 10):Purchase, $1,001 - $15,000, traded April 10, 2023, filed May 19, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 18, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • August 5, 2026
  • May 4, 2026
  • February 19, 2026
  • October 29, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Valaris Ltd was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Valaris Ltd in brief

What does Valaris Ltd do?
Valaris Ltd is a US-listed company in the oil & gas drilling industry. Its financial year ends in December.
What is Valaris Ltd's stock ticker?
Valaris Ltd trades under the ticker VAL on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Valaris Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Valaris Ltd reported revenue of $2.1B, 11.6% lower than a year earlier, according to its SEC filings.
What is Valaris Ltd's free cash flow?
Valaris Ltd's free-cash-flow margin is -9.7% of revenue over the trailing twelve months, ranking 6 of the 7 oil & gas drilling companies we cover.
Who are Valaris Ltd's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Oak Hill Advisors LP and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Valaris Ltd's market cap?
On November 2, 2026, Valaris Ltd's market capitalisation was about $6.6B, with a price-to-earnings ratio of 8.3 and net debt of $563M. Market figures come from third-party market data and may be delayed.
How much debt does Valaris Ltd have?
Valaris Ltd's debt-to-equity ratio is 33.3%, from its latest balance sheet (53.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are Valaris Ltd's competitors?
In our Oil & Gas Drilling peer group, the companies closest to Valaris Ltd are Seadrill Ltd, Noble Corp plc, Precision Drilling Corp, Helmerich & Payne, Inc. and Borr Drilling Ltd. The side-by-side comparison below sets their revenue, margins and growth against Valaris Ltd's.
When is Valaris Ltd's next earnings date?
Around February 18, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Valaris Ltd announces its own schedule.