Seadrill
Runs deepwater drilling rigs for oil and gas operators under dayrate contracts.
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Profile
Owns and operates drillships, semi-submersibles, and a harsh-environment jackup, earning dayrates from offshore oil and gas operators plus fees from managed rigs. The floater-focused fleet spans deepwater basins, while revenue depends on utilization, customer drilling budgets, and regulatory clearance.
Owns and operates drillships, semi-submersibles, and a harsh-environment jackup for offshore oil and gas wells, primarily under fixed-term or well-based dayrate contracts. The floater-focused fleet handles benign and harsh environments from shallow water to ultra-deepwater. Work is concentrated in Brazil and the U.S. Gulf, alongside Angola, Norway, and Malaysia.
Competes by matching modern rig specifications and experienced crews to technically demanding programs, while keeping equipment available and efficient. It also earns management and leasing fees through Sonadrill, the Angolan joint venture that operates Seadrill- and Sonangol-owned drillships. Revenue depends on contracted dayrates, utilization, and customers’ offshore spending; downtime reduces pay, while each market imposes safety, environmental, and maritime rules.
Company facts
Key statistics
Year to date +36.2% · Average volume (30d) 654.4K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jun 30, 2026 | Capital One Financial | Target | $55 | |||
| May 7, 2026 | Barclays | Upgrade | Equal Weight | Overweight | ||
| Apr 17, 2026 | BTIG | Reiterate | Buy | $40 | $55 | |
| Mar 5, 2026 | Citigroup | Upgrade | Sell | Neutral | ||
| Feb 18, 2026 | Barclays | Target | $33 | $39 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q2 FY26 | $0.29 | $0.47 | +62.1% | $391.6M | $449.0M | +14.6% | +8.14% |
| May 11, 2026Q1 FY26 | −$0.10 | −$0.11 | −10.0% | $326.8M | $358.0M | +9.6% | 0.00% |
| Feb 25, 2026Q4 FY25 | $0.07 | $0.12 | +71.4% | $337.5M | $362.0M | +7.3% | −4.31% |
| Nov 5, 2025Q3 FY25 | $0.26 | −$0.17 | −165.4% | $335.4M | $352.0M | +5.0% | −6.05% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $335.0M | $377.0M | $352.0M | $362.0M | $358.0M | $449.0M | |
| Gross profit | $41.0M | $32.0M | $112.0M | $46.0M | $50.0M | $173.0M | |
| Operating income | $18.0M | $6.0M | $26.0M | $19.0M | $25.0M | $72.0M | |
| Net income | −$14.0M | −$42.0M | −$11.0M | −$10.0M | −$7.0M | $29.0M | |
| Diluted EPS | −$0.23 | −$0.65 | −$0.17 | −$0.16 | −$0.11 | $0.47 | |
| Gross margin | 12.2% | 8.5% | 31.8% | 12.7% | 14.0% | 38.5% | |
| Operating margin | 5.4% | 1.6% | 7.4% | 5.2% | 7.0% | 16.0% |
Fiscal years (4-quarter sums)FY21 $1.04B · FY22 $1.01B · FY23 $1.48B · FY24 $1.37B · FY25 $1.43B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $337.0M · Total debt $737.0M · Total assets $4.11B · Shareholders' equity $2.86B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 62.53M · Float 57.53M · 92.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 5.49M | 8.77% | 13F | Aug 7, 2026 |
| Elliott Investment Management L.P. | 4.44M | 7.10% | 13F | Aug 14, 2026 |
| Dimensional Fund Advisors LP | 3.63M | 5.81% | 13F | Aug 11, 2026 |
| Vanguard Capital Management LLC | 2.72M | 4.35% | 13F | Aug 13, 2026 |
| Goehring & Rozencwajg Associates, LLC | 2.64M | 4.22% | 13F | Aug 5, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 11, 2026 | Marcel Wieggers | officer: Senior VP, Operations | −13,475 | $44.94 |
| Jun 10, 2026 | Todd D. Strickler | officer: SVP & General Counsel | −31,409 | $44.69 |
| Jun 11, 2026 | Grant R. Creed | officer: Executive Vice President & CFO | −34,147 | $44.79 |
| Jun 10, 2026 | Torsten Sauer-Petersen | officer: See Remarks | −42,625 | $44.68 |
Peers
- Transocean
Largest pure-floater driller; 20 UDW drillships plus 7 harsh-env semis.
- Valaris
Largest drillship fleet by count; pending all-stock merger with Transocean.
- Noble
Largest 7G drillship operator globally; 15 7G drillships post-Diamond merger.
- Borr
Pure-play premium jack-up contractor; 34 modern rigs, no floaters.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Seadrill | $48.00 | +0.86% | $2.98B | 1,586.7 | 21.6 | 2.0 | +19.1% |
| Transocean | $5.81 | +0.16% | $5.90B | — | 32.8 | 1.4 | −2.2% |
| Valaris | $86.29 | +0.02% | $5.98B | 6.4 | 13.8 | 2.8 | −12.4% |
| Noble | $46.62 | +1.87% | $7.31B | 49.2 | 45.9 | 2.4 | −15.2% |
| Borr | $4.46 | +0.22% | $1.37B | — | — | 1.3 | −13.2% |
| Median | 27.8 | 32.8 | 1.9 | −12.8% |