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Side-by-side financial comparison of Borr Drilling Ltd (BORR) and PATHWARD FINANCIAL, INC. (CASH). Click either name above to swap in a different company.
Borr Drilling Ltd is the larger business by last-quarter revenue ($267.7M vs $173.1M, roughly 1.5× PATHWARD FINANCIAL, INC.). PATHWARD FINANCIAL, INC. runs the higher net margin — 20.3% vs 13.1%, a 7.2% gap on every dollar of revenue. On growth, PATHWARD FINANCIAL, INC. posted the faster year-over-year revenue change (-0.2% vs -1.5%).
Borr Drilling Ltd is a global offshore drilling contractor owning and operating a modern fleet of high-spec jack-up rigs. It offers drilling services to oil and gas exploration and production firms, with main operations across the North Sea, Southeast Asia, Middle East, and West Africa for shallow-water and marginal field projects.
Pathward Financial, Inc. is a U.S.-based banking and financial services company. It adopted its current name in 2022 after its parent, Meta Financial Group, sold the "Meta" trademark to Meta Platforms.
BORR vs CASH — Head-to-Head
Income Statement — Q2 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $267.7M | $173.1M |
| Net Profit | $35.1M | $35.2M |
| Gross Margin | — | — |
| Operating Margin | 36.0% | 24.6% |
| Net Margin | 13.1% | 20.3% |
| Revenue YoY | -1.5% | -0.2% |
| Net Profit YoY | 10.7% | 11.9% |
| EPS (diluted) | $0.14 | $1.57 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $173.1M | ||
| Q3 25 | — | $186.7M | ||
| Q2 25 | $267.7M | $195.8M | ||
| Q1 25 | — | $274.8M | ||
| Q4 24 | — | $182.6M | ||
| Q3 24 | — | $179.5M | ||
| Q2 24 | $271.9M | $188.6M | ||
| Q1 24 | — | $257.6M |
| Q4 25 | — | $35.2M | ||
| Q3 25 | — | $38.8M | ||
| Q2 25 | $35.1M | $42.1M | ||
| Q1 25 | — | $75.0M | ||
| Q4 24 | — | $30.0M | ||
| Q3 24 | — | $33.5M | ||
| Q2 24 | $31.7M | $44.9M | ||
| Q1 24 | — | $69.9M |
| Q4 25 | — | 24.6% | ||
| Q3 25 | — | 25.9% | ||
| Q2 25 | 36.0% | 24.1% | ||
| Q1 25 | — | 33.2% | ||
| Q4 24 | — | 19.8% | ||
| Q3 24 | — | 20.9% | ||
| Q2 24 | 38.4% | 27.1% | ||
| Q1 24 | — | 33.8% |
| Q4 25 | — | 20.3% | ||
| Q3 25 | — | 20.8% | ||
| Q2 25 | 13.1% | 21.5% | ||
| Q1 25 | — | 27.3% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | — | 18.7% | ||
| Q2 24 | 11.7% | 23.8% | ||
| Q1 24 | — | 27.1% |
| Q4 25 | — | $1.57 | ||
| Q3 25 | — | $1.69 | ||
| Q2 25 | $0.14 | $1.81 | ||
| Q1 25 | — | $3.14 | ||
| Q4 24 | — | $1.23 | ||
| Q3 24 | — | $1.34 | ||
| Q2 24 | $0.12 | $1.78 | ||
| Q1 24 | — | $2.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $92.4M | $331.2M |
| Total DebtLower is stronger | — | $33.5M |
| Stockholders' EquityBook value | $1.0B | $854.5M |
| Total Assets | $3.4B | $7.6B |
| Debt / EquityLower = less leverage | — | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $331.2M | ||
| Q3 25 | — | $120.6M | ||
| Q2 25 | $92.4M | $258.3M | ||
| Q1 25 | — | $254.2M | ||
| Q4 24 | — | $597.4M | ||
| Q3 24 | — | $158.3M | ||
| Q2 24 | $195.3M | $298.9M | ||
| Q1 24 | — | $347.9M |
| Q4 25 | — | $33.5M | ||
| Q3 25 | — | $33.5M | ||
| Q2 25 | — | $33.4M | ||
| Q1 25 | — | $33.4M | ||
| Q4 24 | — | $33.4M | ||
| Q3 24 | — | $33.4M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | — | $33.4M |
| Q4 25 | — | $854.5M | ||
| Q3 25 | — | $858.0M | ||
| Q2 25 | $1.0B | $819.0M | ||
| Q1 25 | — | $814.7M | ||
| Q4 24 | — | $758.3M | ||
| Q3 24 | — | $822.5M | ||
| Q2 24 | $999.2M | $748.4M | ||
| Q1 24 | — | $719.5M |
| Q4 25 | — | $7.6B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | $3.4B | $7.2B | ||
| Q1 25 | — | $7.0B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.5B | ||
| Q2 24 | $3.2B | $7.5B | ||
| Q1 24 | — | $7.4B |
| Q4 25 | — | 0.04× | ||
| Q3 25 | — | 0.04× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.04× | ||
| Q1 24 | — | 0.05× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $6.3M | $108.3M |
| Free Cash FlowOCF − Capex | — | $104.1M |
| FCF MarginFCF / Revenue | — | 60.1% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | 0.18× | 3.08× |
| TTM Free Cash FlowTrailing 4 quarters | — | $616.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $108.3M | ||
| Q3 25 | — | $303.7M | ||
| Q2 25 | $6.3M | $30.4M | ||
| Q1 25 | — | $188.3M | ||
| Q4 24 | — | $-71.7M | ||
| Q3 24 | — | $143.1M | ||
| Q2 24 | $16.0M | $113.2M | ||
| Q1 24 | — | $203.0M |
| Q4 25 | — | $104.1M | ||
| Q3 25 | — | $300.3M | ||
| Q2 25 | — | $27.7M | ||
| Q1 25 | — | $184.7M | ||
| Q4 24 | — | $-73.8M | ||
| Q3 24 | — | $138.8M | ||
| Q2 24 | — | $111.0M | ||
| Q1 24 | — | $201.3M |
| Q4 25 | — | 60.1% | ||
| Q3 25 | — | 160.9% | ||
| Q2 25 | — | 14.1% | ||
| Q1 25 | — | 67.2% | ||
| Q4 24 | — | -40.4% | ||
| Q3 24 | — | 77.3% | ||
| Q2 24 | — | 58.8% | ||
| Q1 24 | — | 78.1% |
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 0.7% |
| Q4 25 | — | 3.08× | ||
| Q3 25 | — | 7.83× | ||
| Q2 25 | 0.18× | 0.72× | ||
| Q1 25 | — | 2.51× | ||
| Q4 24 | — | -2.39× | ||
| Q3 24 | — | 4.27× | ||
| Q2 24 | 0.50× | 2.52× | ||
| Q1 24 | — | 2.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BORR
| Transferred Over Time | $256.6M | 96% |
| Transferred At Point In Time | $11.1M | 4% |
CASH
| Consumer | $103.0M | 59% |
| Payment Card And Deposit Fees | $30.1M | 17% |
| Other | $24.2M | 14% |
| Rental Income | $11.6M | 7% |
| Commercial | $4.2M | 2% |
