Seadrill Limited (SDRL) Income Statement
SDRL 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSDRL revenue and net income
Where SDRL's revenue goes
2025Each bar shows an amount and its share of revenue. SDRL kept −5.4% of revenue as net income.
SDRL profit margins
SDRL growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +3.8% | +15.4% | +8.4% | −10.0% |
| Gross profit | −41.0% | −14.9% | — | −23.4% |
| Operating income | −83.0% | −0.9% | — | −26.3% |
| Net income | −117.3% | — | — | — |
| EPS (diluted) | −112.4% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SDRL quarterly EPS vs estimates
Seadrill beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 3, 2026 (estimate $0.23).
SDRL income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.44B | $1.39B | $1.47B | $936.0M | $907.0M | $961.0M | $1.39B | $1.18B | $2.00B | $2.97B |
| Cost of revenue | $1.26B | $1.09B | $905.0M | $655.0M | $945.0M | $1.28B | $1.63B | $799.0M | $792.0M | $1.01B |
| Gross profit | $173.0M | $293.0M | $565.0M | $281.0M | −$38.0M | −$323.0M | −$239.0M | $383.0M | $1.21B | $1.95B |
| Sales, general & admin | $103.0M | $107.0M | $74.0M | — | $87.0M | $86.0M | $95.0M | $277.0M | — | $234.0M |
| Total operating expenses | $103.0M | −$119.0M | $236.0M | $209.0M | $118.0M | $4.16B | $56.0M | $277.0M | $4.03B | $1.50B |
| Operating income | $70.0M | $412.0M | $329.0M | $72.0M | −$156.0M | −$4.48B | −$295.0M | −$360.0M | $135.0M | $936.0M |
| Interest income | $14.0M | $25.0M | $35.0M | — | $1.0M | $9.0M | $35.0M | — | — | — |
| Interest expense | $61.0M | $61.0M | $59.0M | $105.0M | $109.0M | $398.0M | $421.0M | $240.0M | $210.0M | $414.0M |
| Income before taxes | −$51.0M | $333.0M | $317.0M | $3.68B | −$572.0M | −$4.43B | −$760.0M | −$4.45B | −$3.04B | $44.0M |
| Income taxes | $26.0M | −$113.0M | $17.0M | $12.0M | $5.0M | −$1.0M | −$40.0M | $38.0M | $66.0M | $199.0M |
| Net income | −$77.0M | $446.0M | $300.0M | $3.91B | −$587.0M | −$4.66B | −$1.22B | −$4.48B | −$2.97B | −$181.0M |
| EBITDA | $248.0M | $562.0M | $494.0M | $3.92B | −$336.0M | −$3.71B | $87.0M | $304.0M | $890.0M | $1.68B |
| EPS (diluted) | −$0.44 | $3.54 | $11.99 | −$1.10 | −$2.28 | −$46.27 | −$6.75 | $11.78 | −$5.88 | $427.64 |
| Gross margin | 12.0% | 21.2% | 38.4% | 30.0% | −4.2% | −33.6% | −17.2% | 32.4% | 60.4% | 65.8% |
| Operating margin | 4.9% | 29.7% | 22.4% | 7.7% | −17.2% | −466.3% | −21.3% | −30.5% | 6.8% | 31.5% |
| Net margin | −5.4% | 32.2% | 20.4% | 417.4% | −64.7% | −484.8% | −87.8% | −379.3% | −148.7% | −6.1% |
| 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 | $449.0M | $358.0M | $362.0M | $352.0M | $377.0M | $335.0M | $289.0M | $354.0M | $360.0M | $367.0M | $389.0M | $414.0M |
| Cost of revenue | $276.0M | $308.0M | $316.0M | $240.0M | $345.0M | $294.0M | $275.0M | $278.0M | $206.0M | $276.0M | $265.0M | $282.0M |
| Gross profit | $173.0M | $50.0M | $46.0M | $112.0M | $32.0M | $41.0M | $14.0M | $76.0M | $154.0M | $91.0M | $124.0M | $132.0M |
| Sales, general & admin | $29.0M | $25.0M | $27.0M | $27.0M | $26.0M | $23.0M | $31.0M | $27.0M | $24.0M | $25.0M | $26.0M | $20.0M |
| Total operating expenses | $101.0M | $25.0M | $27.0M | $86.0M | $26.0M | $23.0M | $17.0M | $29.0M | −$134.0M | $11.0M | $72.0M | $15.0M |
| Operating income | $72.0M | $25.0M | $19.0M | $26.0M | $6.0M | $18.0M | −$3.0M | $47.0M | $288.0M | $80.0M | $52.0M | $117.0M |
| Interest income | $4.0M | $2.0M | $3.0M | $4.0M | $3.0M | $4.0M | $5.0M | $6.0M | $7.0M | $7.0M | $13.0M | $10.0M |
| Interest expense | $16.0M | $15.0M | $16.0M | $15.0M | $15.0M | $15.0M | $15.0M | $15.0M | $16.0M | $15.0M | $15.0M | $15.0M |
| Income before taxes | $41.0M | $16.0M | −$39.0M | −$22.0M | −$13.0M | $1.0M | −$32.0M | $39.0M | $256.0M | $70.0M | $54.0M | $112.0M |
| Income taxes | $12.0M | $23.0M | −$29.0M | $11.0M | $29.0M | $15.0M | −$133.0M | $7.0M | $3.0M | $10.0M | −$19.0M | $22.0M |
| Net income | $29.0M | −$7.0M | −$10.0M | −$11.0M | −$42.0M | −$14.0M | $101.0M | $32.0M | $253.0M | $60.0M | $73.0M | $90.0M |
| EBITDA | $129.0M | $102.0M | $46.0M | $85.0M | $58.0M | $71.0M | $28.0M | $96.0M | $131.0M | $123.0M | $98.0M | $166.0M |
| EPS (diluted) | $0.47 | −$0.08 | −$0.07 | −$0.17 | $0.03 | −$0.23 | $1.33 | $0.54 | $0.79 | $0.88 | $10.05 | $1.04 |
| Gross margin | 38.5% | 14.0% | 12.7% | 31.8% | 8.5% | 12.2% | 4.8% | 21.5% | 42.8% | 24.8% | 31.9% | 31.9% |
| Operating margin | 16.0% | 7.0% | 5.2% | 7.4% | 1.6% | 5.4% | −1.0% | 13.3% | 80.0% | 21.8% | 13.4% | 28.3% |
| Net margin | 6.5% | −2.0% | −2.8% | −3.1% | −11.1% | −4.2% | 34.9% | 9.0% | 70.3% | 16.3% | 18.8% | 21.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SDRL's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SDRL financial results
In fiscal year 2025 (ended December 31, 2025), Seadrill reported revenue of $1.4 billion, up 3.8% from the year before. It had a net loss of $77.0 million, a net profit margin of −5.4%. Diluted earnings per share came to −$0.44. Over five years revenue grew at an average rate of 8.4% a year.
See the SDRL stock overview for the latest quote and news, or the SDRL chart for price history and technical indicators.
SDRL income statement FAQ
What is Seadrill's annual revenue?
Seadrill reported total revenue of $1.4 billion for fiscal year 2025, which ended on December 31, 2025. That was up 3.8% from $1.4 billion the previous year.
Is Seadrill profitable?
No. Seadrill reported a net loss of $77.0 million in fiscal 2025, a net profit margin of −5.4%; its operating margin was 4.9%.
What is Seadrill's gross margin?
Seadrill's gross margin was 12.0% in fiscal 2025: for every $100 of revenue, Seadrill kept $12 after the direct cost of its products and services.
How fast is Seadrill growing?
Revenue grew 8.4% a year on average over the last five fiscal years, from $961.0 million to $1.4 billion.
What are Seadrill's earnings per share?
Seadrill earned $-0.44 per diluted share in fiscal 2025, compared with $3.54 a year earlier.
When will Seadrill report its next earnings?
Seadrill is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 after the market closes.
When does Seadrill's fiscal year end?
Seadrill's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.