Loading…
Seadrill Limited provides offshore drilling services to the oil and gas industry worldwide. The company owns and operates floaters, such as drillships and semi-submersible rigs for operations in shallow and ultra-deep water in benign and harsh environments. It also offers jackup rigs, management services, and provides contracts drilling units to drill wells. It serves oil super-majors, state-owned national oil companies, and independent oil and gas companies. The company was formerly known as Seadrill 2021 Limited. Seadrill Limited was incorporated in 2005 and is based in Houston, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.4B | $248M | $-77M | $-138M | -2.7% | 3.8% | -117.3% |
| 2024 | $1.4B | $562M | $446M | $-69M | 15.3% | -7.8% | 48.7% |
| 2023 | $1.5B | $531M | $300M | $186M | 10.1% | 65.6% | -151.1% |
| 2022 | - | - | - | - | - | 0.0% | 0.0% |
| 2021 | $907M |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | 907 | - | 1,502 | 1,385 | 1,437 |
| Operating Revenue | 875 | - | 1,490 | 1,380 | 1,434 |
| Cost Of Revenue | 945 | - | 1,089 | 1,092 | 1,264 |
| Gross Profit | -38 | - | 413 | 293 | 173 |
| Operating Expense | 13 | - | 74 | 91 | 103 |
| Selling General And Administration | 67 | - | 74 | 107 | 103 |
| Total Expenses | 958 | - | 1,163 | 1,183 | 1,367 |
| Operating Income | -51 | - | 339 | 202 | 70 |
| Total Operating Income As Reported | -156 | - | 329 | 412 | 47 |
| EBITDA | -336 | - | 531 | 562 | 248 |
| Normalized EBITDA | 65 | - | 541 | 352 | 271 |
| EBIT | -463 | - | 376 | 394 | 10 |
| Interest Income | 1 | - | 35 | 25 | 14 |
| Interest Expense | 109 | - | 59 | 61 | 61 |
| Net Interest Income | -123 | - | -49 | -70 | -88 |
| Other Income Expense | -398 | - | 27 | 201 | -33 |
| Interest Income Non Operating | 1 | - | 35 | 25 | 14 |
| Interest Expense Non Operating | 109 | - | 59 | 61 | 61 |
| Net Non Operating Interest Income Expense | -123 | - | -49 | -70 | -88 |
| Pretax Income | -572 | - | 317 | 333 | -51 |
| Tax Provision | 0 | - | 17 | -113 | 26 |
| Tax Rate For Calcs | 0 | - | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0 | - | -0.54 | 71.40 | -7.82 |
| Net Income Continuous Operations | -572 | - | 300 | 446 | -77 |
| Net Income From Continuing And Discontinued Operation | -587 | - | 300 | 446 | -77 |
| Net Income From Continuing Operation Net Minority Interest | -572 | - | 300 | 446 | -77 |
| Net Income | -587 | - | 300 | 446 | -77 |
| Net Income Common Stockholders | -587 | - | 300 | 446 | -77 |
| Net Income Including Noncontrolling Interests | -587 | - | 300 | 446 | -77 |
| Normalized Income | -171 | - | 309.46 | 307.40 | -61.82 |
| Diluted NI Availto Com Stockholders | -587 | - | 305 | 452 | -72 |
| Basic Average Shares | 100 | - | 71 | 67.99 | 62.10 |
| Diluted Average Shares | 100 | - | 74 | 70.02 | 62.10 |
| Reconciled Depreciation | 127 | - | 155 | 168 | 238 |
| Reconciled Cost Of Revenue | 945 | - | 1,089 | 1,092 | 1,264 |
| Total Unusual Items | -401 | - | -10 | 210 | -23 |
| Total Unusual Items Excluding Goodwill | -401 | - | -10 | 210 | -23 |
| Minority Interests | 0 | - | - | - | - |
| Net Income Discontinuous Operations | -15 | - | 0 | 0 | - |
| Special Income Charges | -401 | - | -10 | 210 | -23 |
| Gain On Sale Of Business | 47 | - | 14 | 234 | 1 |
| Other Special Charges | -51 | - | - | - | - |
| Impairment Of Capital Assets | 152 | - | 0 | 0 | 22 |
| Restructuring And Mergern Acquisition | 296 | - | 24 | 24 | 2 |
| Gain On Sale Of Security | -4 | - | - | - | - |
| General And Administrative Expense | 77 | - | - | - | - |
| Gain On Sale Of Ppe | 47 | - | 14 | 234 | - |
| Total Other Finance Cost | 15 | - | 25 | 34 | 41 |
| Other Operating Expenses | -54 | - | - | -16 | - |
| Otherunder Preferred Stock Dividend | 0 | - | - | - | - |
| Earnings From Equity Interest | 3 | - | 37 | -9 | -10 |
| Average Dilution Earnings | 0 | - | 5 | 6 | 5 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Seadrill Limitedthis co. | SDRL | $2.9B | - | 1.68 | -2.7% | 12.69 |
| Gulfport Energy Corporation | GPOR | $3.1B | 7.76 | 1.68 | 21.6% | 4.31 |
| BKV Corporation | BKV | $3.0B | 17.08 | 1.45 | 8.5% | 8.15 |
| Delek US Holdings, Inc. | DK | $2.9B | -128.14 | 10.20 | -8.0% | 7.16 |
| Select Water Solutions, Inc. | WTTR | $2.7B | 127.24 |
| $-336M |
| $-587M |
| $-183M |
| - |
| - |
| - |
| 3.35 |
| 2.6% |
| 13.33 |
| DHT Holdings, Inc. | DHT | $2.6B | 12.39 | 2.31 | 18.6% | 8.94 |
| National Energy Services Reunited Corp. | NESR | $2.6B | 49.96 | 2.64 | 5.3% | 11.77 |
| FLOC | FLOC | $2.5B | 60.62 | 10.98 | 18.1% | 8.92 |
| Teekay Tankers Ltd. | TNK | $2.4B | 6.92 | 1.19 | 17.2% | 3.77 |
| Peer Median | - | 14.73 | 2.47 | 12.8% | 8.53 | |