Valaris Ltd (VAL)

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services in Brazil, the United Kingdom, Gulf of America, Australia, Angola, and internationally. It operates through four segments: Floaters, Jackups, ARO, and Other. The company owns an offshore drilling rig fleet, which includes drillships, dynamically positioned semisubmersible rigs, a moored semisubmersible rig, and jackup rigs. It also offers management services on rigs owned by third parties. The company serves international, government-owned, and independent oil and gas companies. Valaris Limited was founded in 1975 and is headquartered in Houston, Texas.

Ticker: VAL
Exchange: NYSE
Sector: Energy
Industry: Oil & Gas Drilling
Market cap: $5.54B
52-week range: $48.08 - $114.12

Valuation

Share price: $79.77 (close of Nov 6, 2026)
P/E (TTM): 7.05x
Price to book: 1.69x
Price to free cash flow: -26.77x
Enterprise value: $6.17B
Book value per share: $47.10

Price performance

Period	Change
1 day	+3.17%
5 days	-24.25%
1 month	-2.72%
3 months	+3.32%
6 months	-14.04%
Year to date	+58.27%
1 year	+47.50%
3 years	+19.13%
5 years	+128.57%
All time	+236.58%

Short interest

As of: Oct 15, 2026
Short % of float: 9.94%
Shares short: 5.29M
Days to cover: 5.88
Change since prior report: -6.79%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: 30.99%
Return on invested capital: 11.01%
Return on assets: 18.53%
Return on capital employed: 10.34%
Gross margin: 31.21%
Net margin: 41.49%
EBITDA margin: 26.31%
Revenue growth: 0.27%
Net income growth: 163.20%

Cash flow and balance sheet

Free cash flow yield (TTM): -3.74%
Current ratio: 1.64x
Net debt to EBITDA: 1.26x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $2.37B
Cost of revenue: $1.63B
Gross profit: $739.30M
EBITDA: $623.30M
Net income: $982.80M
Earnings per share: $13.92
Shares outstanding: 70.60M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$2.37B	$739.30M	$982.80M	$13.92
2024-12-31	$2.36B	$601.70M	$373.40M	$5.18
2023-12-31	$1.78B	$240.60M	$865.40M	$11.68
2022-12-31	$1.60B	$219.30M	$176.50M	$2.35
2020-12-31	$1.43B	-	-$4.86B	-$24.42
2019-12-31	$2.05B	$247.20M	-$198.00M	-$1.14
2018-12-31	$1.71B	$386.00M	-$639.70M	-$5.90
2017-12-31	$1.84B	$653.50M	-$303.70M	-$3.66
2016-12-31	$2.78B	-	$890.20M	$12.52
2015-12-31	$4.06B	-	-$1.59B	-$27.52

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	31.21%	41.49%	30.99%	11.01%
2024-12-31	25.47%	15.80%	16.64%	10.31%
2023-12-31	13.49%	48.50%	43.34%	1.70%
2022-12-31	13.68%	11.01%	13.60%	1.00%
2020-12-31	-	-340.21%	-111.10%	-92.46%
2019-12-31	12.04%	-9.64%	-2.13%	-4.34%
2018-12-31	22.63%	-37.51%	-7.91%	-1.80%
2017-12-31	35.46%	-16.48%	-3.48%	-0.98%
2016-12-31	-	32.06%	10.78%	6.07%
2015-12-31	-	-39.25%	-24.47%	-9.93%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$599.40M	$1.09B
2024-12-31	$368.20M	$1.08B
2023-12-31	$620.50M	$1.08B
2022-12-31	$724.10M	$542.40M
2020-12-31	$325.80M	-
2019-12-31	$97.20M	$5.92B
2018-12-31	$604.10M	$5.01B
2017-12-31	$885.40M	$4.75B
2016-12-31	$2.60B	$4.94B
2015-12-31	$1.30B	$5.87B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$202.70M	$25.20M
2024-12-31	-$99.70M	$27.70M
2023-12-31	-$428.60M	$27.30M
2022-12-31	-$80.00M	$17.40M
2020-12-31	-$345.50M	$21.40M
2019-12-31	-$503.90M	$37.30M
2018-12-31	-$482.40M	$29.90M
2017-12-31	-$277.30M	$34.20M
2016-12-31	$755.20M	$39.60M
2015-12-31	$78.40M	$40.20M

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-02	Sep 2026	$1.00
2026-08-05	Jun 2026	$0.46
2026-05-04	Mar 2026	-$0.05
2026-02-19	Dec 2025	$0.51
2025-10-29	Sep 2025	$1.00
2025-07-30	Jun 2025	$1.16
2025-04-30	Mar 2025	$1.10
2025-02-19	Dec 2024	$1.23

Filings and sources

Company website: valaris.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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