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Side-by-side financial comparison of Borr Drilling Ltd (BORR) and Claritev Corp (CTEV). Click either name above to swap in a different company.
Borr Drilling Ltd is the larger business by last-quarter revenue ($267.7M vs $246.6M, roughly 1.1× Claritev Corp). Borr Drilling Ltd runs the higher net margin — 13.1% vs -32.7%, a 45.8% gap on every dollar of revenue. On growth, Claritev Corp posted the faster year-over-year revenue change (6.2% 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.
BORR vs CTEV — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $267.7M | $246.6M |
| Net Profit | $35.1M | $-80.6M |
| Gross Margin | — | — |
| Operating Margin | 36.0% | -3.1% |
| Net Margin | 13.1% | -32.7% |
| Revenue YoY | -1.5% | 6.2% |
| Net Profit YoY | 10.7% | 41.6% |
| EPS (diluted) | $0.14 | $-4.88 |
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 | — | $246.6M | ||
| Q3 25 | — | $246.0M | ||
| Q2 25 | $267.7M | $241.6M | ||
| Q1 25 | — | $231.3M | ||
| Q4 24 | — | $232.1M | ||
| Q3 24 | — | $230.5M | ||
| Q2 24 | $271.9M | $233.5M | ||
| Q1 24 | — | $234.5M |
| Q4 25 | — | $-80.6M | ||
| Q3 25 | — | $-69.8M | ||
| Q2 25 | $35.1M | $-62.6M | ||
| Q1 25 | — | $-71.3M | ||
| Q4 24 | — | $-138.0M | ||
| Q3 24 | — | $-391.4M | ||
| Q2 24 | $31.7M | $-576.7M | ||
| Q1 24 | — | $-539.7M |
| Q4 25 | — | -3.1% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | 36.0% | 6.9% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | -17.8% | ||
| Q3 24 | — | -146.7% | ||
| Q2 24 | 38.4% | -224.4% | ||
| Q1 24 | — | -207.4% |
| Q4 25 | — | -32.7% | ||
| Q3 25 | — | -28.4% | ||
| Q2 25 | 13.1% | -25.9% | ||
| Q1 25 | — | -30.8% | ||
| Q4 24 | — | -59.4% | ||
| Q3 24 | — | -169.8% | ||
| Q2 24 | 11.7% | -247.0% | ||
| Q1 24 | — | -230.1% |
| Q4 25 | — | $-4.88 | ||
| Q3 25 | — | $-4.23 | ||
| Q2 25 | $0.14 | $-3.81 | ||
| Q1 25 | — | $-4.38 | ||
| Q4 24 | — | $-8.49 | ||
| Q3 24 | — | $-24.25 | ||
| Q2 24 | $0.12 | $-35.78 | ||
| Q1 24 | — | $-33.40 |
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 | $16.8M |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | $1.0B | $-173.9M |
| Total Assets | $3.4B | $4.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $16.8M | ||
| Q3 25 | — | $39.2M | ||
| Q2 25 | $92.4M | $56.4M | ||
| Q1 25 | — | $23.1M | ||
| Q4 24 | — | $16.8M | ||
| Q3 24 | — | $86.6M | ||
| Q2 24 | $195.3M | $48.8M | ||
| Q1 24 | — | $58.7M |
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | — | $4.5B |
| Q4 25 | — | $-173.9M | ||
| Q3 25 | — | $-101.8M | ||
| Q2 25 | $1.0B | $-39.9M | ||
| Q1 25 | — | $14.8M | ||
| Q4 24 | — | $84.0M | ||
| Q3 24 | — | $207.6M | ||
| Q2 24 | $999.2M | $603.4M | ||
| Q1 24 | — | $1.2B |
| Q4 25 | — | $4.9B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | $3.4B | $5.1B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | — | $5.3B | ||
| Q2 24 | $3.2B | $5.7B | ||
| Q1 24 | — | $6.4B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 304.87× | ||
| Q4 24 | — | 53.67× | ||
| Q3 24 | — | 21.73× | ||
| Q2 24 | — | 7.48× | ||
| Q1 24 | — | 3.85× |
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 | $66.3M |
| Free Cash FlowOCF − Capex | — | $36.4M |
| FCF MarginFCF / Revenue | — | 14.8% |
| Capex IntensityCapex / Revenue | — | 12.1% |
| Cash ConversionOCF / Net Profit | 0.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-12.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $66.3M | ||
| Q3 25 | — | $19.9M | ||
| Q2 25 | $6.3M | $61.2M | ||
| Q1 25 | — | $-30.1M | ||
| Q4 24 | — | $-33.4M | ||
| Q3 24 | — | $72.8M | ||
| Q2 24 | $16.0M | $18.5M | ||
| Q1 24 | — | $49.7M |
| Q4 25 | — | $36.4M | ||
| Q3 25 | — | $-16.3M | ||
| Q2 25 | — | $36.6M | ||
| Q1 25 | — | $-68.9M | ||
| Q4 24 | — | $-63.8M | ||
| Q3 24 | — | $41.1M | ||
| Q2 24 | — | $-7.0M | ||
| Q1 24 | — | $19.2M |
| Q4 25 | — | 14.8% | ||
| Q3 25 | — | -6.6% | ||
| Q2 25 | — | 15.2% | ||
| Q1 25 | — | -29.8% | ||
| Q4 24 | — | -27.5% | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | — | -3.0% | ||
| Q1 24 | — | 8.2% |
| Q4 25 | — | 12.1% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 10.2% | ||
| Q1 25 | — | 16.8% | ||
| Q4 24 | — | 13.1% | ||
| Q3 24 | — | 13.8% | ||
| Q2 24 | — | 10.9% | ||
| Q1 24 | — | 13.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.50× | — | ||
| Q1 24 | — | — |
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% |
CTEV
Segment breakdown not available.
