Valaris
Supplies crewed floaters and jackups for offshore oil and gas drilling.
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Profile
Supplies drillships, semisubmersibles, and jackups with crews to offshore oil and gas operators under day-rate contracts. ARO, its Saudi Aramco joint venture, extends the business into Saudi offshore drilling, while results depend on rig utilization, operational performance, offshore spending, and the pending Transocean combination.
Provides offshore contract drilling through Floaters, which deploy drillships and semisubmersibles; Jackups for shallow-water work; ARO, the unconsolidated joint venture with Saudi Aramco; and Other, covering third-party rig management and rigs leased to ARO. Customers include international, state-owned, and independent oil and gas producers across the Americas, Europe, the Middle East, Africa, and Asia Pacific.
Earns primarily through day-rate contracts bundling a rig and crew, making utilization, uptime, safety performance, and contract terms central to revenue. Fleet mobility and technical capability support deepwater and shallow-water programs, while demand tracks offshore spending and commodity cycles. Operations face environmental, safety, permitting, and local-country rules. ARO distributions require both partners' approval, and the pending Transocean combination remains subject to shareholder, regulatory, and court approvals.
Company facts
Key statistics
Year to date +65.4% · Average volume (30d) 1.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 8, 2026 | Susquehanna | Reiterate | Neutral | $96 | $75 | |
| Mar 9, 2026 | BTIG | Downgrade | Buy | Neutral | ||
| Feb 23, 2026 | Susquehanna | Reiterate | Neutral | $51 | $96 | |
| Nov 5, 2025 | Barclays | Reiterate | Equal Weight | $98 | $50 | |
| Oct 31, 2025 | BTIG | Reiterate | Buy | $65 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.31 | $0.72 | +132.3% | $488.5M | $539.2M | +10.4% | +0.31% |
| May 4, 2026Q1 FY26 | −$0.05 | −$0.24 | −380.0% | $443.8M | $465.4M | +4.9% | −9.47% |
| Feb 19, 2026Q4 FY25 | $0.51 | $0.79 | +54.9% | $495.7M | $537.4M | +8.4% | +3.52% |
| Oct 29, 2025Q3 FY25 | $1.00 | $2.65 | +165.0% | $499.2M | $595.7M | +19.3% | +2.20% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $620.7M | $615.2M | $595.7M | $537.4M | $465.4M | $539.2M | |
| Gross profit | $205.7M | $219.5M | $190.1M | $83.4M | $49.3M | $549.8M | |
| Operating income | $143.0M | $164.1M | $126.1M | $56.4M | $24.0M | $51.1M | |
| Net income | −$37.9M | $115.1M | $188.1M | $717.5M | −$16.4M | $50.4M | |
| Diluted EPS | −$0.53 | $1.61 | $2.65 | $10.26 | −$0.24 | $0.72 | |
| Gross margin | 33.1% | 35.7% | 31.9% | 15.5% | 10.6% | 102.0% | |
| Operating margin | 23.0% | 26.7% | 21.2% | 10.5% | 5.2% | 9.5% |
Fiscal years (4-quarter sums)FY21 $1.23B · FY22 $1.60B · FY23 $1.78B · FY24 $2.36B · FY25 $2.37B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $541.2M · Total debt $1.17B · Total assets $5.45B · Shareholders' equity $3.22B
Dividends
No dividends on record.
Ownership
Shares outstanding 69.25M · Float 56.86M · 82.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Transocean Ltd. | 12.57M | 18.10% | 13D | Feb 13, 2026 |
| BlackRock, Inc. | 8.21M | 11.86% | 13F | Aug 7, 2026 |
| Famatown Finance Limited | 7.81M | 11.23% | 13D | Feb 11, 2026 |
| Greenwich Holdings Ltd. | 7.50M | 10.56% | 13D | Mar 5, 2025 |
| Oak Hill Advisors LP | 3.91M | 5.64% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 3, 2025 | Gilles Luca | officer: SVP - COO | −35,000 | $48.84 |
Peers
- Noble
Broad floater and high-spec jackup overlap.
- Transocean
Ultra-deepwater and harsh-environment floater overlap.
- Seadrill
Deepwater floater overlap in Brazil, Angola, and Asia.
- Borr
Premium jackup overlap in shallow-water basins.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| 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% |
| Transocean | $5.81 | +0.16% | $5.90B | — | 32.8 | 1.4 | −2.2% |
| Seadrill | $48.00 | +0.86% | $2.98B | 1,586.7 | 21.6 | 2.0 | +19.1% |
| Borr | $4.46 | +0.22% | $1.37B | — | — | 1.3 | −13.2% |
| Median | 817.9 | 32.8 | 1.7 | −7.7% |