Borr Drilling Balance Sheet Health
Financial Health criteria checks 1/6
Borr Drilling has a total shareholder equity of $984.0M and total debt of $1.7B, which brings its debt-to-equity ratio to 172.9%. Its total assets and total liabilities are $3.1B and $2.1B respectively. Borr Drilling's EBIT is $249.8M making its interest coverage ratio 1.4. It has cash and short-term investments of $102.5M.
Key information
172.9%
Debt to equity ratio
US$1.70b
Debt
| Interest coverage ratio | 1.4x |
| Cash | US$102.50m |
| Equity | US$984.00m |
| Total liabilities | US$2.10b |
| Total assets | US$3.08b |
Recent financial health updates
Recent updates
Borr Drilling: Downgrading On Potential Saudi Aramco Jackup Market Impact
Mar 30Borr Drilling: Fundamentals Remain Strong
Mar 15Borr Drilling: Record Profits Ahead As Rig Fleet Is Sold Out
Feb 08Borr Drilling: Still Undervalued, But The Easy Money Has Already Been Made
Jan 05Borr Drilling: Jackup Market Expected To Remain Strong - Buy
Dec 16Borr Drilling: The Rating Agencies Are Turning Positive Too
Nov 15Borr Drilling - Refinancing Terms Disappoint But Weakness Seems Overdone
Nov 07Borr Drilling: The Jack-Ups Orderbook Is At 20-Year Lows
Sep 11Borr Drilling: Q2 Results And Outlook Disappoint - Buy On Weakness
Aug 18Borr Drilling: Accelerated Refinancing Could Provide A Near-Term Catalyst - Buy
Jun 05Borr Drilling: Impressive Results And Outlook - Buy
Jan 25Borr Drilling rises after bagging contracts for jack-up drilling rigs
Dec 30Borr Drilling GAAP EPS of -$0.30, revenue of $107.9M; updated FY22 guidance
Nov 17Borr Drilling: Strong Progress Expected In 2023 And 2024
Oct 14Borr Drilling GAAP EPS of -$1.09, revenue of $105.3M
Aug 09Borr Drilling: Debt Refinancing Woes Likely To Result In Substantial Dilution For Equityholders
Jul 14Borr Drilling: Modern Jackup Demand Projected To Outstrip Supply Soon - Buy
Jun 01Borr Drilling - Recent Outperformance Unlikely To Persist
Apr 06Borr Drilling: A Look At Q4 2021 Results
Feb 17Borr's Outlook Gets More Constructive After Debt Deal
Dec 28Borr Drilling: A Look At Q2 2021 Results
Sep 02Borr Drilling: Dilution Remains A Problem
Jul 13Borr Drilling: Stock Remains In Hibernation Mode
Jun 15Financial Position Analysis
Short Term Liabilities: BORR's short term assets ($409.9M) exceed its short term liabilities ($360.4M).
Long Term Liabilities: BORR's short term assets ($409.9M) do not cover its long term liabilities ($1.7B).
Debt to Equity History and Analysis
Debt Level: BORR's net debt to equity ratio (162.5%) is considered high.
Reducing Debt: BORR's debt to equity ratio has increased from 76.6% to 172.9% over the past 5 years.
Debt Coverage: BORR's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: BORR's interest payments on its debt are not well covered by EBIT (1.4x coverage).