Latest Ratios: P/E Ratio -30.9x · EV/EBITDA 8.7x · ROE -2.7%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.4B | $2.1B | $2.8B | $3.5B | $1.6B | — | — | — | — | — | — |
| Enterprise Value | $2.7B | $2.4B | $2.9B | $3.4B | $1.7B | — | — | — | — | — | — |
| P/E Ratio → | -30.93 | — | 6.11 | 11.67 | 0.45 | — | — | — | — | — | — |
| P/S Ratio | 1.67 | 1.50 | 2.00 | 2.38 | 1.74 | — | — | — | — | — | — |
| P/B Ratio | 0.83 | 0.75 | 0.95 | 1.17 | 0.96 | — | — | — | — | — | — |
| P/FCF | — | — | — | 18.81 | — | — | — | — | — | — | — |
| P/OCF | — | — | 31.41 | 12.19 | 181.33 | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.69 | 2.10 | 2.32 | 1.78 | — | — | — | — | — | — |
| EV / EBITDA | 8.68 | 7.87 | 5.01 | 7.05 | 7.46 | — | — | — | — | — | — |
| EV / EBIT | 38.17 | 242.26 | 7.37 | 10.06 | 23.19 | — | — | — | — | — | — |
| EV / FCF | — | — | — | 18.34 | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.0% | 12.0% | 21.2% | 38.4% | 30.0% | -4.2% | -33.6% | -17.2% | 32.4% | 60.4% | 65.8% |
| Operating Margin | 4.9% | 4.9% | 29.7% | 22.4% | 7.7% | -17.2% | -466.3% | -21.3% | -30.5% | 6.8% | 31.5% |
| Net Profit Margin | -5.4% | -5.4% | 32.2% | 20.4% | 417.4% | -64.7% | -484.8% | -87.8% | -379.3% | -148.7% | -6.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.7% | -2.7% | 15.1% | 12.8% | 229.6% | — | — | -50.1% | -89.4% | -34.9% | -1.8% |
| ROA | -1.9% | -1.9% | 10.7% | 8.5% | 116.7% | -14.9% | -70.4% | -12.1% | -31.1% | -15.0% | -0.8% |
| ROIC | 1.7% | 1.7% | 10.4% | 10.6% | 3.1% | — | -70.4% | -2.8% | -2.3% | 0.6% | 3.6% |
| ROCE | 1.9% | 1.9% | 11.0% | 10.6% | 2.9% | -6.2% | -151.3% | -3.1% | -2.6% | 0.8% | 5.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.21 | 0.21 | 0.21 | 0.20 | 0.30 | — | — | 3.56 | 2.32 | 1.30 | 1.00 |
| Debt / EBITDA | 1.99 | 1.99 | 1.07 | 1.26 | 2.31 | — | — | 48.75 | 23.47 | 10.13 | 6.00 |
| Net Debt / Equity | — | 0.10 | 0.05 | -0.03 | 0.02 | — | — | 2.96 | 1.82 | 1.11 | 0.87 |
| Net Debt / EBITDA | 0.89 | 0.89 | 0.24 | -0.18 | 0.17 | — | — | 40.45 | 18.40 | 8.72 | 5.18 |
| Debt / FCF | — | — | — | -0.47 | — | — | — | — | — | 25.27 | 8.31 |
| Interest Coverage | 0.16 | 0.16 | 6.46 | 5.75 | 0.79 | -4.25 | -10.13 | -0.81 | -1.50 | 0.64 | 2.26 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.03 | 2.03 | 1.85 | 2.98 | 2.12 | 1.44 | 0.16 | 2.30 | 5.96 | 2.62 | 0.61 |
| Quick Ratio | 2.03 | 2.03 | 1.85 | 2.98 | 2.12 | 1.44 | 0.16 | 2.30 | 5.96 | 2.62 | 0.61 |
| Cash Ratio | 0.91 | 0.91 | 0.95 | 1.79 | 1.19 | 0.21 | 0.08 | 1.41 | 3.45 | 1.61 | 0.31 |
| Asset Turnover | — | 0.36 | 0.33 | 0.35 | 0.33 | 0.23 | 0.24 | 0.15 | 0.11 | 0.11 | 0.14 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 41.15 | 65.36 | 73.99 | 63.95 | 74.85 | 79.76 | 75.73 | 119.20 | 94.76 | 59.38 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 16.4% | 8.6% | 224.6% | — | — | — | — | — | — |
| FCF Yield | — | — | — | 5.3% | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 19.2% | 7.5% | 0.0% | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 19.2% | 7.5% | 0.0% | — | — | — | — | — | — |
| Shares Outstanding | — | $62M | $71M | $74M | $50M | $100M | $100M | $100M | $301M | $505M | $501M |
Cyclical dayrate volatility
Based on recent financial data, Seadrill's forward EV/EBITDA of 5.88x suggests the market is pricing in a recovery, yet the negative TTM P/E of -31.48 highlights the persistent difficulty in achieving consistent bottom-line profitability compared to more established peers like Noble Corporation.
The valuation gap between SDRL and its peers appears to stem from the market's skepticism regarding the company's ability to convert its high-spec fleet into sustained earnings. Investors should monitor whether the forward multiple compression is driven by genuine EBITDA growth or merely a reflection of depressed market expectations for offshore dayrates.
As reported in quarterly filings, Seadrill's ROIC has struggled to maintain momentum, hovering at a marginal 0.6% in 2026Q1, which indicates that the company is currently failing to generate returns that exceed the cost of capital required to maintain its complex ultra-deepwater assets.
The inability to consistently drive ROIC above low single digits suggests that the company's capital-intensive business model is currently trapped in a cycle of high maintenance spending. This trend warrants further investigation into whether the current fleet configuration can ever achieve the double-digit returns seen in more efficient industry cycles.
According to recent financial statements, Seadrill's asset turnover remains stagnant at 0.09, reflecting a structural inability to maximize revenue generation from its existing fleet, which is significantly lower than what would be expected for a high-utilization offshore drilling operator in a tightening market.
The lack of improvement in asset turnover suggests that the company's revenue base is not scaling effectively with its capital base. This inefficiency, combined with inconsistent DSO trends, implies that the company may be facing challenges in optimizing its contract-to-cash cycle, potentially limiting its operational flexibility.
Based on reported figures, Seadrill maintains a lean debt-to-equity ratio of 0.22, providing a rare degree of balance sheet stability in the offshore sector, yet the interest coverage ratio of 1.67x in 2026Q1 suggests that even modest debt levels remain a burden given the current earnings volatility.
While the low leverage is a clear competitive advantage compared to the debt-heavy capital structures of peers like Transocean, the thin interest coverage indicates that the company's financial health is highly sensitive to operational disruptions. Investors should monitor whether this conservative leverage is a permanent strategic shift or a temporary byproduct of recent restructuring.
The P/E ratio is the most commonly misapplied metric for Seadrill, as it obscures the company's true economic potential by failing to account for the heavy non-cash depreciation charges inherent in a post-restructuring, capital-intensive fleet that distorts net income figures.
Analysts should instead prioritize EV/EBITDA or cash-flow-based metrics to evaluate the company's core operational performance. Relying on P/E in this context risks misinterpreting accounting noise as a fundamental lack of value, ignoring the significant operating leverage that could materialize if dayrates sustain their upward trajectory.
Includes 30+ ratios · 14 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying SDRL stock.
Seadrill Limited's current P/E ratio is -30.9x. The historical average is 6.1x.
Seadrill Limited's current EV/EBITDA is 8.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.8x.
Seadrill Limited's return on equity (ROE) is -2.7%. The historical average is 14.2%.
Based on historical data, Seadrill Limited is trading at a P/E of -30.9x. Compare with industry peers and growth rates for a complete picture.
Seadrill Limited has 12.0% gross margin and 4.9% operating margin.
Seadrill Limited's Debt/EBITDA ratio is 2.0x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.