Friday 6 November 2026 Export VAL’s income statement to Excel — free account

Valaris Limited

Valaris Limited’s revenue for fiscal 2025 (year ended December 2025) was $2.4 billion, roughly unchanged from fiscal 2024.

Revenue: −0.35%
EPS: −74.7%
Free cash flow: −105.1%
Total debt: +0.30%

Quarter to September 2026, against a year earlier

78.07 4.70 −5.68%

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Market cap: $5.4B
P/E: 6.8×
Fwd P/E: 30.5×
Dividend yield: —
F-score: 7/9
Altman Z: 2.49
Beneish M: −2.21
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Valaris Limited (VAL) revenue by segment, product and region

Revenue by segment $m

Line	FY2019	FY2018	FY2017	FY2016
Floaters	1,014 49.41%	1,014 59.43%	1,144 62.05%	1,771 63.79%
Jackups	835 40.65%	631 36.99%	640 34.74%	930 33.48%
ARO	411 19.99%	0 0.00%	0 0.00%	—
Other	204 9.95%	61 3.58%	59 3.21%	76 2.73%
Reconciling Items Member	—	—	—	0 0.00%
Eliminations	(410) (19.99%)	—	—	—
Operating Segments Total Member	—	—	—	2,776
Revenue	2,053	1,705	1,843	2,776

Operating income by segment $m, and margin

	FY2019	FY2018	FY2017	FY2016
Other	‡	‡	‡	‡
ARO	‡	‡	‡	‡
Jackups	‡	‡	‡	‡
Floaters	‡	‡	‡	‡
Reconciling Items Member	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡
Operating income	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Average daily revenue	Q3 FY2026	$200,000.00	$176,000.00	+13.64%
Average daily revenue, drillships	Q3 FY2026	$469,000.00	$425,000.00	+10.35%
Average daily revenue for floaters	Q3 FY2026	$469,000.00	$380,000.00	+23.42%
Average daily revenue for floaters and jackups	Q3 FY2026	$253,000.00	$220,000.00	+15.00%
Average daily revenue for jackups	Q3 FY2026	$131,000.00	$141,000.00	−7.09%
Average daily revenue for leased and managed rigs	Q3 FY2026	$52,000.00	$55,000.00	−5.45%
Average daily revenue, HD and SD modern jackups	Q3 FY2026	$160,000.00	$143,000.00	+11.89%
Average daily revenue, HD harsh environment jackups	Q3 FY2026	$116,000.00	$148,000.00	−21.62%
Average daily revenue, SD legacy jackups	Q3 FY2026	$109,000.00	$100,000.00	+9.00%
Average daily revenue, semisubmersibles	Q4 FY2025	$267,000.00	$231,000.00	+15.58%
Remaining performance obligations	Q3 FY2026	$208.0M	$136.8M	+52.05%
Revenue efficiency	Q3 FY2026	97.0%	—	—
Utilization - total fleet, drillships	Q3 FY2026	62.0%	48.0%	—
Utilization - total fleet, floaters	Q3 FY2026	58.0%	54.0%	—
Utilization - total fleet, floaters and jackups	Q3 FY2026	62.0%	60.0%	—
Utilization – total fleet, HD and SD modern jackups	Q3 FY2026	47.0%	50.0%	—
Utilization – total fleet, HD harsh environment jackups	Q3 FY2026	79.0%	77.0%	—
Utilization - total fleet, jackups	Q3 FY2026	64.0%	63.0%	—
Utilization - total fleet, leased and managed rigs	Q3 FY2026	89.0%	100.0%	—
Utilization - total fleet, pro forma jackups	Q3 FY2026	69.0%	—	—
Utilization – total fleet, SD legacy jackups	Q3 FY2026	100.0%	82.0%	—
Utilization - total fleet, semisubmersibles	Q4 FY2025	50.0%	40.0%	—
Utilization – total fleet, Valaris total	Q3 FY2026	67.0%	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q4 FY2018	Q3 FY2018	Q2 FY2018	Q1 FY2018
Average daily revenue	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily revenue, drillships	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily revenue for floaters	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily revenue for floaters and jackups	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily revenue for jackups	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily revenue for leased and managed rigs	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily revenue, HD and SD modern jackups	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily revenue, HD harsh environment jackups	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily revenue, SD legacy jackups	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily revenue, semisubmersibles	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Revenue efficiency	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization - total fleet, drillships	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization - total fleet, floaters	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization - total fleet, floaters and jackups	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization – total fleet, HD and SD modern jackups	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization – total fleet, HD harsh environment jackups	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization - total fleet, jackups	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization - total fleet, leased and managed rigs	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization - total fleet, pro forma jackups	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization – total fleet, SD legacy jackups	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization - total fleet, semisubmersibles	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization – total fleet, Valaris total	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.