Borr Drilling Limited (BORR) Income Statement
BORR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBORR revenue and net income
Where BORR's revenue goes
2025Each bar shows an amount and its share of revenue. BORR kept 4.4% of revenue as net income.
BORR profit margins
BORR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +1.0% | +32.0% | +27.1% | — |
| Gross profit | −57.7% | +4.4% | +14.4% | — |
| Operating income | −14.0% | — | — | — |
| Net income | −45.2% | — | — | — |
| EPS (diluted) | −43.3% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BORR quarterly EPS vs estimates
Borr Drilling beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 4, 2026 (estimate $-0.10).
BORR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.02B | $1.01B | $771.6M | $443.8M | $245.3M | $307.5M | $334.1M | $164.9M | $100,000 | $0 |
| Cost of revenue | $648.6M | $131.2M | $117.4M | $116.5M | $119.6M | $117.9M | $121.6M | $103.7M | $47.9M | $0 |
| Gross profit | $372.2M | $879.4M | $654.2M | $327.3M | $125.7M | $189.6M | $212.5M | $61.2M | −$36.1M | $0 |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $50.4M | $49.2M | $46.9M | $36.8M | $34.7M | $49.1M | $50.4M | $38.7M | $21.0M | $1.9M |
| Total operating expenses | $50.4M | $505.2M | $403.8M | $429.2M | $214.0M | $377.6M | $363.3M | $192.6M | $57.2M | $753,000 |
| Operating income | $321.8M | $374.2M | $250.4M | −$101.9M | −$88.3M | −$188.0M | −$150.8M | −$131.4M | −$109.7M | −$753,000 |
| Interest income | $3.7M | $7.7M | $4.9M | $5.4M | $3.9M | $200,000 | $1.5M | $1.2M | $3.2M | — |
| Interest expense | $228.4M | $218.8M | $179.5M | $151.9M | $92.9M | $97.2M | $85.2M | $17.2M | $500,000 | $0 |
| Income before taxes | $85.9M | $140.3M | $56.1M | −$274.4M | −$183.3M | −$301.4M | −$287.9M | −$188.4M | −$88.0M | −$735,000 |
| Income taxes | $40.9M | $58.2M | $34.0M | $18.4M | $9.7M | $16.2M | $11.2M | $2.5M | −$21.7M | $1,951 |
| Net income | $45.0M | $82.1M | $22.1M | −$292.8M | −$193.0M | −$317.6M | −$297.6M | −$190.5M | −$88.0M | −$755,000 |
| EBITDA | $462.3M | $473.0M | $331.9M | −$32.5M | $29.2M | −$96.1M | −$116.1M | −$80.4M | −$66.3M | $1.2M |
| EPS (diluted) | $0.17 | $0.30 | $0.38 | −$0.88 | −$1.34 | −$3.10 | −$5.17 | −$1.82 | −$1.18 | — |
| Gross margin | 36.5% | 87.0% | 84.8% | 73.7% | 51.2% | 61.7% | 63.6% | 37.1% | −36,100.0% | — |
| Operating margin | 31.5% | 37.0% | 32.5% | −23.0% | −36.0% | −61.1% | −45.1% | −79.7% | −109,700.0% | — |
| Net margin | 4.4% | 8.1% | 2.9% | −66.0% | −78.7% | −103.3% | −89.1% | −115.5% | −88,000.0% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $232.3M | $247.0M | $259.4M | $277.1M | $267.7M | $216.6M | $263.1M | $241.6M | $271.9M | $234.0M | $220.6M | $191.5M |
| Cost of revenue | $175.1M | $187.2M | $177.9M | $166.1M | $36.7M | $35.9M | $35.7M | $31.8M | $31.9M | $31.8M | $30.8M | $30.4M |
| Gross profit | $57.2M | $59.8M | $81.5M | $111.0M | $231.0M | $180.7M | $227.4M | $209.8M | $240.0M | $202.2M | $189.8M | $161.1M |
| Sales, general & admin | $13.5M | $13.8M | $14.2M | $12.8M | $12.3M | $11.1M | $12.2M | $12.0M | $11.7M | $16.9M | $11.5M | $11.6M |
| Total operating expenses | $56.9M | $13.8M | $14.2M | $12.8M | $134.5M | $120.5M | $126.4M | $126.1M | $135.5M | $117.2M | $109.1M | $97.3M |
| Operating income | $300,000 | $46.0M | $67.3M | $98.2M | $96.5M | $60.2M | $101.0M | $83.7M | $104.5M | $85.0M | $80.7M | $63.8M |
| Interest income | $2.1M | $2.4M | $1.5M | $1.8M | $1.2M | $1.3M | $1.6M | $2.0M | $2.6M | $1.5M | $700,000 | $100,000 |
| Interest expense | $236.4M | $59.9M | $56.7M | $57.7M | $58.3M | $63.4M | $57.2M | $54.8M | $52.9M | $51.5M | $55.3M | $39.5M |
| Income before taxes | −$230.5M | −$17.9M | $11.2M | $39.1M | $39.9M | −$4.3M | $35.9M | $25.2M | $46.6M | $32.6M | $19.1M | $14.9M |
| Income taxes | $10.9M | $11.1M | $12.2M | $11.3M | $4.8M | $12.6M | $9.6M | $15.5M | $14.9M | $18.2M | −$9.3M | $14.6M |
| Net income | −$241.4M | −$29.0M | −$1.0M | $30.8M | $35.1M | −$16.9M | $26.3M | $9.7M | $31.7M | $14.4M | $28.4M | $300,000 |
| EBITDA | $39.9M | $84.5M | $105.7M | $134.4M | $131.3M | $87.2M | $126.5M | $107.8M | $127.9M | $110.8M | $94.0M | $84.4M |
| EPS (diluted) | −$0.22 | −$0.09 | −$0.00 | $0.10 | $0.14 | −$0.07 | $0.09 | $0.04 | $0.11 | $0.06 | $0.11 | $0.30 |
| Gross margin | 24.6% | 24.2% | 31.4% | 40.1% | 86.3% | 83.4% | 86.4% | 86.8% | 88.3% | 86.4% | 86.0% | 84.1% |
| Operating margin | 0.1% | 18.6% | 25.9% | 35.4% | 36.0% | 27.8% | 38.4% | 34.6% | 38.4% | 36.3% | 36.6% | 33.3% |
| Net margin | −103.9% | −11.7% | −0.4% | 11.1% | 13.1% | −7.8% | 10.0% | 4.0% | 11.7% | 6.2% | 12.9% | 0.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BORR's financial statements (latest annual report filed March 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BORR financial results
In fiscal year 2025 (ended December 31, 2025), Borr Drilling reported revenue of $1.0 billion, up 1.0% from the year before. It had net income of $45.0 million (down 45.2%), a net profit margin of 4.4%. Diluted earnings per share came to $0.17. Over five years revenue grew at an average rate of 27.1% a year.
See the BORR stock overview for the latest quote and news, or the BORR chart for price history and technical indicators.
BORR income statement FAQ
What is Borr Drilling's annual revenue?
Borr Drilling reported total revenue of $1.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 1.0% from $1.0 billion the previous year.
Is Borr Drilling profitable?
Yes. Borr Drilling reported net income of $45.0 million in fiscal 2025, a net profit margin of 4.4%; its operating margin was 31.5%.
What is Borr Drilling's gross margin?
Borr Drilling's gross margin was 36.5% in fiscal 2025: for every $100 of revenue, Borr Drilling kept $36 after the direct cost of its products and services.
How fast is Borr Drilling growing?
Revenue grew 27.1% a year on average over the last five fiscal years, from $307.5 million to $1.0 billion.
What are Borr Drilling's earnings per share?
Borr Drilling earned $0.17 per diluted share in fiscal 2025, compared with $0.30 a year earlier.
When will Borr Drilling report its next earnings?
Borr Drilling is expected to report results for the quarter ending September 30, 2026 on November 4, 2026.
When does Borr Drilling's fiscal year end?
Borr Drilling's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 26, 2026.