Vantage Drilling International's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Vantage Drilling International (VDI) 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: Vantage Drilling International vs Its Competitors
- TTM: Trailing 12-month revenue of 332M vs 157,339M combined for tracked competitors (0.2% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+29.9% annualized vs trailing 12 months), vs decelerating (-9.0%) for its tracked peer group.
- Growth: Vantage Drilling International generated 47.3% revenue growth year over year in Q2 2023, vs 21.4% for its tracked competitors combined.
- Profitability: Its 0.9% net margin compares with 10.2% for the peer group.
- Scale: Vantage Drilling International ranks #12 of 15 companies by market capitalization in the Oil Well Services & Equipment industry, holding 1.2% of industry market cap.
- Peer revenue share: Vantage Drilling International accounted for 0.3% of combined revenue among its tracked peer group, up from 0.3% a year earlier.
- Peer differentiation: Revenue per employee of $0.33M compares with $0.43M for the peer group (0.8x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
VDI Sales vs. its Competitors, Q2 2023
Vantage Drilling International reported revenue growth of 47.25 % year on year in Q2 2023, above its competitors' combined revenue growth of 21.38 %.
With a net margin of 0.93 %, Vantage Drilling International reported lower profitability than its competitors (10.16 %).
Vantage Drilling International generated 0.30 % of the combined sales of its peer group, up from 0.25 % a year earlier.
Vantage Drilling International vs. its Competitors, Q2 2023
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 Vantage Drilling International and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Vantage Drilling International | $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 Vantage Drilling International's competitor groups requires a Commercial License.
For context: the Oil Well Services & Equipment industry grew revenue -11.7% year over year, combined, vs 47.3% for Vantage Drilling International. Vantage Drilling International's share of combined industry revenue moved from 0.36% to 0.61%, a gain of 0.24 percentage points.
Vantage Drilling International'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 |
|---|---|---|---|---|
| Vantage Drilling International | No | Yes | Yes | No |
| Competitors combined (22) | ||||
| Similar-Size Competitors (7) | ||||
| Similar Growth & Profitability (8) | 37.50 % (3 of 8) | 100.00 % (8 of 8) | 100.00 % (8 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.
VDI Stock Performance relative to its Competitors
VDI Stock Performance relative to Similar-Size Competitors
VDI 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 | Matson inc | 282.9% | Outperformed |
| 2 | Nabors Industries Ltd | 282.9% | Outperformed |
| 3 | Patterson uti Energy Inc | 282.9% | Outperformed |
| 4 | Helmerich and Payne inc | 282.9% | Outperformed |
| 5 | Transocean ltd | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Vantage Drilling International's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Vantage Drilling International's Comment on Competition and Industry Peers
Drilling contracts are generally awarded on a competitive bid or negotiated basis. Pricing (day rate) is often the primary factor in determining which qualified contractor is awarded a job. Rig availability, capabilities, age and each contractor’s safety performance record and reputation for quality also can be key factors in the determination. Operators also may consider crew experience, rig location and efficiency. We believe that the market for drilling contracts will continue to be highly competitive for the foreseeable future. Certain competitors may have greater financial resources than we do, which may better enable them to withstand periods of low utilization, compete more effectively in a low price environment, build new rigs or acquire existing rigs. In the current market, contractors that are awarded a job are more often the ones that submit proposals for contracts at very low day rates thereby depressing global pricing.
Our competition ranges from large international companies offering a wide range of drilling and other oilfield services to smaller, locally owned companies. Competition for rigs is usually on a global basis, as these rigs are highly mobile and may be moved, although at a cost that is sometimes substantial, from one region to another in response to demand.
Publicly Traded Peers of Vantage Drilling International
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Vantage Drilling International | 482.13 | 332.06 |
| Slb Limited | 77,543.94 | 36,365.00 |
| Baker Hughes Company | 57,120.00 | 27,893.00 |
| Halliburton Company | 27,176.34 | 22,373.00 |
| Dover Corp | 25,955.69 | 8,420.56 |
| Loews Corp | 21,574.57 | 18,694.00 |
| SUBTOTAL | 266,480.90 | 157,671.24 |
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Sources: Vantage Drilling International'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 Vantage Drilling International versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Vantage Drilling International'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 |
|---|---|
| Vantage Drilling International | Drilling Services 50.27 % |
| Slb Limited | Production Systems 42.03 % |
| Baker Hughes Company | Oilfield Services and Equipment 52.34 % |
| Halliburton Company | Completion and Production 55.83 % |
| Dover Corp | Clean Energy & Fueling 27.17 % |
| Loews Corp | CNA Financial Corporation 80.72 % |
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).
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Vantage Drilling International'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 |
|---|---|---|---|
| Vantage Drilling International | 482 | 332,059 | -39,077 |
| Slb Limited | 77,544 | 333,624 | 28,899 |
| Baker Hughes Company | 57,120 | 498,089 | 56,304 |
| Halliburton Company | 27,176 | 466,104 | 33,479 |
| Dover Corp | 25,956 | 350,857 | 90,018 |
| Loews Corp | 21,575 | 1,427,023 | 136,565 |
| PEERS TOTAL | 265,999 | 430,495 | 31,961 |
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Vantage Drilling International'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 |
|---|---|
| Slb Limited | Middle East 28.67 % |
| Halliburton Company | North America 39.54 % |
| Dover Corp | United States 55.59 % |
| Transocean ltd | US 35.61 % |
| Helmerich and Payne inc | United States 58.76 % |
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.
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Vantage Drilling International's Position in Industry Market Structure
Market-capitalization share and concentration across all 15 companies in Vantage Drilling International's industry classification, broader than the peer set above. Market cap in millions of $.Vantage Drilling International ranks #12 of 15 companies by market capitalization in its industry, holding 1.25 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,188, 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 | 6,807 | 17.55 % |
| 2 | Transocean ltd | 6,419 | 16.55 % |
| 3 | Valaris Limited | 5,700 | 14.70 % |
| 4 | Patterson uti Energy Inc | 4,154 | 10.71 % |
| 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 | Borr Drilling Limited | 1,234 | 5.2% |
| 12 | Vantage Drilling International | 483 | 1.25 % |
Market cap and industry share for the rest of Vantage Drilling International's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Vantage Drilling International'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 |
|---|---|---|---|
| 7 | Seadrill Limited | 2,959 | 45.03 % |
| 8 | Precision Drilling Corporation | 1,369 | 41.82 % |
| 9 | Nabors Industries Ltd | 1,150 | 101.49 % |
| 10 | Borr Drilling Limited | 1,234 | 12.3% |
| 11 | Highpeak Energy Inc | 1,234 | 12.3% |
| 12 | Vantage Drilling International | 483 | - |
| 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 Vantage Drilling International's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Vantage Drilling International'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).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 13.91 % | 36.50 % (avg) | -22.6 pp |
| Operating Margin | -24.26 % | industry median | +49.9 pp |
| EBITDA Margin | 2.57 % | 10.27 % (avg) | -7.7 pp |
| Capital Intensity (Capex / Revenue) | 0.00 % | 12.97 % (avg) | -13.0 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.
Vantage Drilling International's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|
| Revenue Growth | -72.44 % | 7.36 % | 232.96 % | -83.33 % |
| Operating Margin | -30.25 % | -15.68 % | 52.78 % | -190.24 % |
| Return on Invested Capital | -5.48 % | -3.59 % | 23.83 % | -17.68 % |
| P/E | - | - | - | - |
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.
Vantage Drilling International's Strategic Group Map
Every company in Vantage Drilling International's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Vantage Drilling International 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.
Vantage Drilling International's BCG Growth-Share Matrix
Relative market share (vs Vantage Drilling International'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.
Vantage Drilling International falls in the Dog quadrant: relative market share of 0.07x 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.
Vantage Drilling International'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 1,188 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.00 % vs industry average 12.97 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Vantage Drilling International's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Vantage Drilling International'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.
Vantage Drilling International'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.
Vantage Drilling International 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.
Vantage Drilling International'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 49.9 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+29.9% annualized vs trailing 12 months).
Weaknesses
- Low relative market share vs the industry leader (0.07x).
Opportunities
- A meaningful share of tracked competitors (35.00 %) show financial-distress signals, a possible opening to gain share.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-9.0% annualized).
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.
Vantage Drilling International'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 |
|---|---|---|---|
| Vantage Drilling International | 0.92 | 2.20 | 0.85 |
| Slb Limited | 0.20 | 1.37 | 0.38 |
| Baker Hughes Company | - | 1.58 | 0.46 |
| Halliburton Company | 0.36 | 2.02 | 0.68 |
| Dover Corp | - | 1.91 | 0.45 |
| Loews Corp | 0.05 | 0.89 | 0.47 |
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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.
Vantage Drilling International'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 |
|---|---|---|---|
| Vantage Drilling International | Q2 2023 | +47.2 % | -97.9 % |
| Slb Limited | Q2 2026 | +5.0 % | -22.2 % |
| Baker Hughes Company | Q1 2026 | +2.5 % | +129.3 % |
| Halliburton Company | Q2 2026 | +3.7 % | +11.3 % |
| Dover Corp | Q2 2026 | +6.9 % | -50.5 % |
| Loews Corp | Q2 2026 | +3.9 % | +13.2 % |
| PEERS TOTAL | +2.5 % | +48.0 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Vantage Drilling International'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 |
|---|---|---|---|
| Vantage Drilling International | Q2 2023 | +25.2 % | - |
| Slb Limited | Q2 2026 | +79.3 % | +29.0 % |
| Baker Hughes Company | Q1 2026 | +3.1 % | +12.0 % |
| Halliburton Company | Q2 2026 | - | -33.6 % |
| Dover Corp | Q2 2026 | +6.4 % | -21.6 % |
| Loews Corp | Q2 2026 | +2.6 % | +92.5 % |
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Vantage Drilling International's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Vantage Drilling International | - | - | - |
| Slb Limited | 5.73% | 7.18% | 11.58% |
| Baker Hughes Company | 7.43% | 11.19% | 16.88% |
| Halliburton Company | 6.36% | 7.98% | 15.08% |
| Dover Corp | 15.99% | 19.97% | 28.56% |
| Loews Corp | 2.07% | 2.73% | 9.12% |
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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).
Vantage Drilling International's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Vantage Drilling International | - | 1.45 |
| Slb Limited | 24.64 | 2.13 |
| Baker Hughes Company | 18.28 | 2.05 |
| Halliburton Company | 17.07 | 1.21 |
| Dover Corp | 23.10 | 3.08 |
| Loews Corp | 12.89 | 1.15 |
| PEERS AVERAGE | 22.89 | 1.69 |
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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.