Value Investor
Start free

Seadrill

SDRL on NYSE. Seadrill rents offshore drilling rigs and crews to oil and gas companies. Market value $2.9bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.

Cash flow or capital spending isn't reported, so free cash flow is unknown.

Recent profit includes a one-time gain, so we price the company excluding that gain.

Should I look at this?

Good business, but not cheap right now

Why it could be worth it

What to watch out for

See cheaper Energy stocks on the list

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
annual report to December 2025
n/a

We could not compute this from the filings.

Price to profit
past 12 months to June 2026, without the one-off
27.3×full

You pay 27.3 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
9.0%five-year median

Each dollar kept in the business earns 9 cents a year. Above 10 is good.

Quality score: 78 of 100. Price score: 21 of 100. Our list needs 70 on quality and 60 on price.

$45.09 a share, 60% above its 1-year low

Over the past year the price has ranged from $28.10 to $55.47.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.2
n/a
n/a
n/a
n/a
20212022202320242025
Revenue
$907mn/a$1.5bn$1.4bn$1.4bn
Operating margin
-17.2%n/a21.9%29.7%3.3%
Debt to equity
n/a0.300.200.210.21
Shares outstanding
0.10bn0.05bn0.07bn0.06bn0.06bn

Health checks

  • Free cash flow positive0 of 1 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)3 of 7 checks we could run
  • Profit backed by cash (accruals)Yes
  • Debt0.21× equity
  • Revenue growth, five yearsSlow, 8.4% a year
  • Buying back its own sharesYes, 38% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $449 million last quarter, up 19% on a year ago.
  • Profit: $29 million, after a loss of $42 million a year ago.
  • It keeps 8 cents of each $1 of sales as operating profit, up from 5 cents a year earlier.
  • About the same number of shares as a year ago.
  • Debt is $400 million more than cash, up from $219 million a year ago.
Sales by quarter
Sales by quarter
Quarter toAmount
December 2023Not reported
December 2024Not reported
March 2025$335m
June 2025$377m
September 2025$363m
December 2025$362m
March 2026$358m
June 2026$449m
Profit by quarter
Profit by quarter
Quarter toAmount
December 2023Not reported
December 2024Not reported
March 2025-$14m
June 2025-$42m
September 2025-$11m
December 2025-$10m
March 2026-$7m
June 2026$29m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
26 February 2026
Next quarterly (estimated, 10-Q)
9 November 2026

Who owns it

4 long-term investors we follow own it, unchanged from 4 last quarter. 238 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

6 investors own more than 5%; 1 of them is pushing for change.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 4 sold $5m.

  • Creed Grant R
    Executive Vice President & CFO
    Sold
    Date
    11 June 2026
    Shares
    34,147
    Price
    $44.79
    Value
    $2m
  • Wieggers Marcel
    Senior VP, Operations
    Sold
    Date
    11 June 2026
    Shares
    13,475
    Price
    $44.94
    Value
    $605,566
  • Sauer-Petersen Torsten
    See Remarks
    Sold
    Date
    10 June 2026
    Shares
    42,625
    Price
    $44.68
    Value
    $2m
  • Strickler Todd D
    SVP & General Counsel
    Sold
    Date
    10 June 2026
    Shares
    31,409
    Price
    $44.69
    Value
    $1m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

  • It isn't cheap on profits: 27.3× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.