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Side-by-side financial comparison of Borr Drilling Ltd (BORR) and GCM Grosvenor Inc. (GCMG). Click either name above to swap in a different company.
Borr Drilling Ltd is the larger business by last-quarter revenue ($267.7M vs $177.1M, roughly 1.5× GCM Grosvenor Inc.). GCM Grosvenor Inc. runs the higher net margin — 32.8% vs 13.1%, a 19.7% gap on every dollar of revenue. On growth, GCM Grosvenor Inc. posted the faster year-over-year revenue change (7.2% 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.
GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.
BORR vs GCMG — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $267.7M | $177.1M |
| Net Profit | $35.1M | $58.2M |
| Gross Margin | — | — |
| Operating Margin | 36.0% | 30.9% |
| Net Margin | 13.1% | 32.8% |
| Revenue YoY | -1.5% | 7.2% |
| Net Profit YoY | 10.7% | 149.2% |
| EPS (diluted) | $0.14 | $0.23 |
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 | — | $177.1M | ||
| Q3 25 | — | $135.0M | ||
| Q2 25 | $267.7M | $119.7M | ||
| Q1 25 | — | $125.8M | ||
| Q4 24 | — | $165.3M | ||
| Q3 24 | — | $122.9M | ||
| Q2 24 | $271.9M | $117.0M | ||
| Q1 24 | — | $108.9M |
| Q4 25 | — | $58.2M | ||
| Q3 25 | — | $10.5M | ||
| Q2 25 | $35.1M | $15.4M | ||
| Q1 25 | — | $463.0K | ||
| Q4 24 | — | $7.6M | ||
| Q3 24 | — | $4.2M | ||
| Q2 24 | $31.7M | $4.8M | ||
| Q1 24 | — | $2.1M |
| Q4 25 | — | 30.9% | ||
| Q3 25 | — | 32.7% | ||
| Q2 25 | 36.0% | 16.1% | ||
| Q1 25 | — | 12.2% | ||
| Q4 24 | — | 26.4% | ||
| Q3 24 | — | 20.3% | ||
| Q2 24 | 38.4% | 17.8% | ||
| Q1 24 | — | -14.7% |
| Q4 25 | — | 32.8% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | 13.1% | 12.9% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | — | 3.4% | ||
| Q2 24 | 11.7% | 4.1% | ||
| Q1 24 | — | 2.0% |
| Q4 25 | — | $0.23 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | $0.14 | $0.05 | ||
| Q1 25 | — | $-0.02 | ||
| Q4 24 | — | $0.09 | ||
| Q3 24 | — | $0.03 | ||
| Q2 24 | $0.12 | $0.04 | ||
| Q1 24 | — | $-0.13 |
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 | $242.1M |
| Total DebtLower is stronger | — | $428.4M |
| Stockholders' EquityBook value | $1.0B | $27.0M |
| Total Assets | $3.4B | $813.8M |
| Debt / EquityLower = less leverage | — | 15.87× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $242.1M | ||
| Q3 25 | — | $182.7M | ||
| Q2 25 | $92.4M | $136.3M | ||
| Q1 25 | — | $94.5M | ||
| Q4 24 | — | $89.5M | ||
| Q3 24 | — | $98.4M | ||
| Q2 24 | $195.3M | $73.9M | ||
| Q1 24 | — | $41.9M |
| Q4 25 | — | $428.4M | ||
| Q3 25 | — | $429.3M | ||
| Q2 25 | — | $430.2M | ||
| Q1 25 | — | $431.1M | ||
| Q4 24 | — | $432.0M | ||
| Q3 24 | — | $432.9M | ||
| Q2 24 | — | $433.8M | ||
| Q1 24 | — | $384.0M |
| Q4 25 | — | $27.0M | ||
| Q3 25 | — | $-7.4M | ||
| Q2 25 | $1.0B | $-12.3M | ||
| Q1 25 | — | $-28.3M | ||
| Q4 24 | — | $-27.6M | ||
| Q3 24 | — | $-31.9M | ||
| Q2 24 | $999.2M | $-28.5M | ||
| Q1 24 | — | $-26.4M |
| Q4 25 | — | $813.8M | ||
| Q3 25 | — | $685.9M | ||
| Q2 25 | $3.4B | $636.9M | ||
| Q1 25 | — | $579.8M | ||
| Q4 24 | — | $612.7M | ||
| Q3 24 | — | $575.0M | ||
| Q2 24 | $3.2B | $543.9M | ||
| Q1 24 | — | $497.3M |
| Q4 25 | — | 15.87× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $183.5M |
| Free Cash FlowOCF − Capex | — | $175.0M |
| FCF MarginFCF / Revenue | — | 98.8% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | 0.18× | 3.16× |
| TTM Free Cash FlowTrailing 4 quarters | — | $326.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $183.5M | ||
| Q3 25 | — | $79.8M | ||
| Q2 25 | $6.3M | $42.0M | ||
| Q1 25 | — | $33.3M | ||
| Q4 24 | — | $148.8M | ||
| Q3 24 | — | $69.0M | ||
| Q2 24 | $16.0M | $17.5M | ||
| Q1 24 | — | $24.2M |
| Q4 25 | — | $175.0M | ||
| Q3 25 | — | $78.3M | ||
| Q2 25 | — | $40.8M | ||
| Q1 25 | — | $32.1M | ||
| Q4 24 | — | $132.0M | ||
| Q3 24 | — | $62.2M | ||
| Q2 24 | — | $12.8M | ||
| Q1 24 | — | $20.0M |
| Q4 25 | — | 98.8% | ||
| Q3 25 | — | 58.0% | ||
| Q2 25 | — | 34.1% | ||
| Q1 25 | — | 25.5% | ||
| Q4 24 | — | 79.9% | ||
| Q3 24 | — | 50.6% | ||
| Q2 24 | — | 10.9% | ||
| Q1 24 | — | 18.4% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | 4.0% | ||
| Q1 24 | — | 3.9% |
| Q4 25 | — | 3.16× | ||
| Q3 25 | — | 7.61× | ||
| Q2 25 | 0.18× | 2.72× | ||
| Q1 25 | — | 71.84× | ||
| Q4 24 | — | 19.54× | ||
| Q3 24 | — | 16.60× | ||
| Q2 24 | 0.50× | 3.64× | ||
| Q1 24 | — | 11.40× |
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% |
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
