Borr Drilling Limited's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Borr Drilling Limited (BORR) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Borr Drilling Limited vs Its Competitors
- TTM: Trailing 12-month revenue of 1,021M vs 22,814M combined for tracked competitors (4.3% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months), vs holding steady (-0.5%) for its tracked peer group.
- Growth: Borr Drilling Limited generated 1.0% revenue growth year over year in Q4 2025, vs 6.6% for its tracked competitors combined.
- Profitability: Its 12.8% net margin compares with 12.9% for the peer group.
- Scale: Borr Drilling Limited ranks #11 of 15 companies by market capitalization in the Oil Well Services & Equipment industry, holding 2.7% of industry market cap.
- Peer revenue share: Borr Drilling Limited accounted for 15.3% of combined revenue among its tracked peer group, down from 16.0% a year earlier.
- Peer differentiation: Revenue per employee of $3.26M compares with $0.43M for the peer group (7.7x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
BORR Sales vs. its Competitors, Q4 2025
Borr Drilling Limited reported revenue growth of 1.01 % year on year in Q4 2025, below its competitors' combined revenue growth of 6.58 %.
With a net margin of 12.82 %, Borr Drilling Limited reported lower profitability than its competitors (12.89 %).
Borr Drilling Limited generated 15.25 % of the combined sales of its peer group, down from 15.96 % a year earlier.
Borr Drilling Limited vs. its Competitors, Q4 2025
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Borr Drilling Limited and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Borr Drilling Limited | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (6) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Borr Drilling Limited's competitor groups requires a Commercial License.
For context: the Oil Well Services & Equipment industry grew revenue -5.7% year over year, combined, vs 1.0% for Borr Drilling Limited. Borr Drilling Limited's share of combined industry revenue moved from 5.09% to 5.45%, a gain of 0.36 percentage points.
Borr Drilling Limited's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Borr Drilling Limited | Yes | Yes | Yes | No |
| Competitors combined (9) | ||||
| Similar-Size Competitors (8) | ||||
| Similar Growth & Profitability (8) | 75.00 % (6 of 8) | 50.00 % (4 of 8) | 50.00 % (4 of 8) | 14.30 % (1 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
BORR Stock Performance relative to its Competitors
BORR Stock Performance relative to Similar-Size Competitors
BORR Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Patterson uti Energy Inc | 282.9% | Outperformed |
| 2 | Nabors Industries Ltd | 282.9% | Outperformed |
| 3 | Transocean ltd | 282.9% | Outperformed |
| 4 | Helmerich and Payne inc | 282.9% | Outperformed |
| 5 | Valaris Limited | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Borr Drilling Limited's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Borr Drilling Limited's Comment on Competition and Industry Peers
Publicly Traded Peers of Borr Drilling Limited
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Borr Drilling Limited | 1,023.80 | 1,020.80 |
| Noble Corporation Plc | 6,524.14 | 3,067.81 |
| Transocean ltd | 6,167.10 | 4,118.00 |
| Valaris Limited | 5,397.95 | 2,213.70 |
| Patterson uti Energy Inc | 4,185.91 | 4,672.07 |
| Helmerich and Payne inc | 3,703.11 | 3,995.99 |
| SUBTOTAL | 32,470.42 | 25,078.30 |
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Sources: Borr Drilling Limited's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Borr Drilling Limited versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Borr Drilling Limited's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| PEMEX | Named by the company | 85% |
| Saudi Aramco | Named by the company | 85% |
| Nabors Industries Ltd | Named by the company | 85% |
| Diamond Offshore Drilling Inc | Named by the company | 85% |
| Vantage Drilling International | Named by the company | 85% |
| Valaris Limited | Named by the company | 85% |
| Patterson uti Energy Inc | Named by the company | 85% |
| Helmerich and Payne inc | Named by the company | 85% |
| Transocean ltd | Named by the company | 85% |
| Noble Corporation Plc | Named by the company | 85% |
| Vantage Drilling International | Named by the company | 85% |
| Seadrill Limited | Named by the company | 85% |
| Independence Contract Drilling inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Borr Drilling Limited's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Borr Drilling Limited's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Valaris Limited | Jackups 45.17 % |
| Patterson uti Energy Inc | Completions Services 61.37 % |
| Helmerich and Payne inc | North America Solutions 55.45 % |
| Diamond Offshore Drilling Inc | Contract Drilling 94.99 % |
| Nabors Industries Ltd | International Excluding Canada 53.08 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Borr Drilling Limited's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Borr Drilling Limited | 1,024 | 3,261,342 | 418,211 |
| Noble Corporation Plc | 6,524 | 681,735 | 33,241 |
| Transocean ltd | 6,167 | 735,357 | -273,393 |
| Valaris Limited | 5,398 | 582,553 | 263,237 |
| Patterson uti Energy Inc | 4,186 | 591,401 | -11,316 |
| Helmerich and Payne inc | 3,703 | 252,911 | -8,129 |
| PEERS TOTAL | 31,447 | 425,864 | -10,863 |
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Borr Drilling Limited's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Borr Drilling Limited | South East Asia 28.98 % |
| Transocean ltd | US 35.61 % |
| Helmerich and Payne inc | United States 58.76 % |
| Seadrill Limited | Brazil 38.75 % |
| Diamond Offshore Drilling Inc | US 55.43 % |
| Nabors Industries Ltd | Middle East and Asia 40.68 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Borr Drilling Limited's Position in Industry Market Structure
Market-capitalization share and concentration across all 15 companies in Borr Drilling Limited's industry classification, broader than the peer set above. Market cap in millions of $.Borr Drilling Limited ranks #11 of 15 companies by market capitalization in its industry, holding 2.70 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,185, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Noble Corporation Plc | 6,661 | 17.50 % |
| 2 | Transocean ltd | 6,298 | 16.55 % |
| 3 | Valaris Limited | 5,528 | 14.53 % |
| 4 | Patterson uti Energy Inc | 4,152 | 10.91 % |
| 5 | Helmerich and Payne inc | 1,234 | 5.2% |
| 6 | Baytex Energy Corp | 1,234 | 5.2% |
| 7 | Seadrill Limited | 1,234 | 5.2% |
| 8 | Precision Drilling Corporation | 1,234 | 5.2% |
| 9 | Nabors Industries Ltd | 1,234 | 5.2% |
| 10 | Highpeak Energy Inc | 1,234 | 5.2% |
| 11 | Borr Drilling Limited | 1,029 | 2.70 % |
Market cap and industry share for the rest of Borr Drilling Limited's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-30.
Borr Drilling Limited's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 6 | Baytex Energy Corp | 3,484 | 86.01 % |
| 7 | Seadrill Limited | 2,904 | 47.24 % |
| 8 | Precision Drilling Corporation | 1,333 | 40.35 % |
| 9 | Nabors Industries Ltd | 1,115 | 85.02 % |
| 10 | Highpeak Energy Inc | 1,234 | 12.3% |
| 11 | Borr Drilling Limited | 1,029 | 43.25 % |
| 12 | Vantage Drilling International | 1,234 | 12.3% |
| 13 | Greenland Energy Company | 1,234 | 12.3% |
| 14 | Team Inc | 1,234 | 12.3% |
| 15 | E Home Household Service Holdings Limited | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Borr Drilling Limited's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-30. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Borr Drilling Limited's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Oil Well Services & Equipment industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (31 companies). See the full Oil Well Services & Equipment industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 0.00 % | 36.58 % (avg) | -36.6 pp |
| Operating Margin | 31.55 % | industry median | +23.3 pp |
| EBITDA Margin | 24.20 % | 10.28 % (avg) | +13.9 pp |
| Capital Intensity (Capex / Revenue) | 0.03 % | 12.97 % (avg) | -12.9 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Borr Drilling Limited's Valuation vs Competitive Position
Valuation multiples vs the Oil Well Services & Equipment industry average (31 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Oil Well Services & Equipment industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 19.5x | 16.5x | +3.0x |
| EV / EBITDA | 10.7x | 18.0x | -7.3x |
| P/B | 0.7x | 1.8x | -1.0x |
| Return on Equity | 10.71 % | industry aggregate | 17.09 % |
| Return on Invested Capital | 7.16 % | 1.12 % (avg) | 6.04 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Borr Drilling Limited's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue Growth | 73.86 % | 30.97 % | 1.01 % |
| Operating Margin | 32.45 % | 37.03 % | 31.55 % |
| Return on Invested Capital | 6.72 % | 9.35 % | 7.16 % |
| P/E | 73.2x | 13.3x | 19.5x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Borr Drilling Limited's Strategic Group Map
Every company in Borr Drilling Limited's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Borr Drilling Limited is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Borr Drilling Limited's BCG Growth-Share Matrix
Relative market share (vs Borr Drilling Limited's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Borr Drilling Limited falls in the Dog quadrant: relative market share of 0.15x vs its largest competitor, in an industry growing revenue -6.9% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Borr Drilling Limited's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,185 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.03 % vs industry average 12.97 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Borr Drilling Limited's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Borr Drilling Limited's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Borr Drilling Limited's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Borr Drilling Limited falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Borr Drilling Limited's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 23.3 points above the industry median.
- Return on equity 17.1 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.15x).
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Borr Drilling Limited's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Borr Drilling Limited | 1.08 | 2.19 | 1.76 |
| Noble Corporation Plc | 0.72 | 1.83 | 0.43 |
| Transocean ltd | 0.62 | 1.38 | 0.84 |
| Valaris Limited | 0.82 | 1.75 | 0.39 |
| Patterson uti Energy Inc | 0.06 | 1.71 | 0.38 |
| Helmerich and Payne inc | 0.24 | 1.81 | 0.73 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Borr Drilling Limited's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Borr Drilling Limited | Q4 2025 | +1.0 % | -41.1 % |
| Noble Corporation Plc | Q2 2026 | -15.2 % | - |
| Transocean ltd | Q2 2026 | -2.2 % | - |
| Valaris Limited | Q1 2026 | -25.0 % | - |
| Patterson uti Energy Inc | Q2 2026 | +0.7 % | - |
| Helmerich and Payne inc | Q2 2026 | -0.6 % | - |
| PEERS TOTAL | -3.8 % | - |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Borr Drilling Limited's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Borr Drilling Limited | Q4 2025 | - | -40.0 % |
| Noble Corporation Plc | Q2 2026 | -5.1 % | +75.4 % |
| Transocean ltd | Q2 2026 | +1.5 % | +0.0 % |
| Valaris Limited | Q1 2026 | -10.0 % | +0.7 % |
| Patterson uti Energy Inc | Q2 2026 | - | +8.1 % |
| Helmerich and Payne inc | Q2 2026 | +3.6 % | -28.1 % |
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Borr Drilling Limited's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Borr Drilling Limited | 3.61% | 3.99% | 10.71% |
| Noble Corporation Plc | 2.00% | 2.21% | 3.30% |
| Transocean ltd | - | - | - |
| Valaris Limited | 20.20% | 23.60% | 35.99% |
| Patterson uti Energy Inc | - | - | - |
| Helmerich and Payne inc | - | - | - |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Borr Drilling Limited's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Borr Drilling Limited | 22.76 | 1.00 |
| Noble Corporation Plc | 43.96 | 2.13 |
| Transocean ltd | - | 1.50 |
| Valaris Limited | 5.52 | 2.44 |
| Patterson uti Energy Inc | - | 0.90 |
| Helmerich and Payne inc | - | 0.93 |
| PEERS AVERAGE | - | 1.29 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.