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Side-by-side financial comparison of Borr Drilling Ltd (BORR) and James River Group Holdings, Inc. (JRVR). Click either name above to swap in a different company.
Borr Drilling Ltd is the larger business by last-quarter revenue ($267.7M vs $167.7M, roughly 1.6× James River Group Holdings, Inc.). James River Group Holdings, Inc. runs the higher net margin — 19.1% vs 13.1%, a 6.0% gap on every dollar of revenue. On growth, James River Group Holdings, Inc. posted the faster year-over-year revenue change (32.4% 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.
James River Corporation was an American pulp and paper company based in Richmond, Virginia, once the largest paper manufacturer in the world.
BORR vs JRVR — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $267.7M | $167.7M |
| Net Profit | $35.1M | $32.1M |
| Gross Margin | — | — |
| Operating Margin | 36.0% | 14.6% |
| Net Margin | 13.1% | 19.1% |
| Revenue YoY | -1.5% | 32.4% |
| Net Profit YoY | 10.7% | 149.5% |
| EPS (diluted) | $0.14 | $0.59 |
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 | — | $167.7M | ||
| Q3 25 | — | $172.7M | ||
| Q2 25 | $267.7M | $174.8M | ||
| Q1 25 | — | $172.3M | ||
| Q4 24 | — | $126.7M | ||
| Q3 24 | — | $191.5M | ||
| Q2 24 | $271.9M | $188.3M | ||
| Q1 24 | — | $201.1M |
| Q4 25 | — | $32.1M | ||
| Q3 25 | — | $1.0M | ||
| Q2 25 | $35.1M | $4.8M | ||
| Q1 25 | — | $9.6M | ||
| Q4 24 | — | $-64.8M | ||
| Q3 24 | — | $-39.4M | ||
| Q2 24 | $31.7M | $7.6M | ||
| Q1 24 | — | $15.4M |
| Q4 25 | — | 14.6% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | 36.0% | 4.2% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | -57.0% | ||
| Q3 24 | — | -27.1% | ||
| Q2 24 | 38.4% | 10.7% | ||
| Q1 24 | — | 16.4% |
| Q4 25 | — | 19.1% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | 13.1% | 2.7% | ||
| Q1 25 | — | 5.6% | ||
| Q4 24 | — | -51.1% | ||
| Q3 24 | — | -20.6% | ||
| Q2 24 | 11.7% | 4.0% | ||
| Q1 24 | — | 7.7% |
| Q4 25 | — | $0.59 | ||
| Q3 25 | — | $-0.02 | ||
| Q2 25 | $0.14 | $0.06 | ||
| Q1 25 | — | $0.16 | ||
| Q4 24 | — | $-2.44 | ||
| Q3 24 | — | $-1.10 | ||
| Q2 24 | $0.12 | $0.13 | ||
| Q1 24 | — | $0.35 |
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 | $260.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.0B | $538.2M |
| Total Assets | $3.4B | $4.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $260.9M | ||
| Q3 25 | — | $238.8M | ||
| Q2 25 | $92.4M | $220.0M | ||
| Q1 25 | — | $279.4M | ||
| Q4 24 | — | $362.3M | ||
| Q3 24 | — | $359.8M | ||
| Q2 24 | $195.3M | $672.5M | ||
| Q1 24 | — | $305.5M |
| Q4 25 | — | $538.2M | ||
| Q3 25 | — | $503.6M | ||
| Q2 25 | $1.0B | $492.6M | ||
| Q1 25 | — | $484.5M | ||
| Q4 24 | — | $460.9M | ||
| Q3 24 | — | $530.3M | ||
| Q2 24 | $999.2M | $541.8M | ||
| Q1 24 | — | $539.5M |
| Q4 25 | — | $4.9B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | $3.4B | $5.0B | ||
| Q1 25 | — | $4.9B | ||
| Q4 24 | — | $5.0B | ||
| Q3 24 | — | $5.0B | ||
| Q2 24 | $3.2B | $4.7B | ||
| Q1 24 | — | $5.3B |
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 | $-18.8M |
| Free Cash FlowOCF − Capex | — | $-23.6M |
| FCF MarginFCF / Revenue | — | -14.1% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | 0.18× | -0.59× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-17.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-18.8M | ||
| Q3 25 | — | $34.3M | ||
| Q2 25 | $6.3M | $25.2M | ||
| Q1 25 | — | $-51.5M | ||
| Q4 24 | — | $-247.1M | ||
| Q3 24 | — | $-269.9M | ||
| Q2 24 | $16.0M | $-8.7M | ||
| Q1 24 | — | $24.1M |
| Q4 25 | — | $-23.6M | ||
| Q3 25 | — | $33.7M | ||
| Q2 25 | — | $24.7M | ||
| Q1 25 | — | $-52.7M | ||
| Q4 24 | — | $-252.0M | ||
| Q3 24 | — | $-270.8M | ||
| Q2 24 | — | $-9.3M | ||
| Q1 24 | — | $23.3M |
| Q4 25 | — | -14.1% | ||
| Q3 25 | — | 19.5% | ||
| Q2 25 | — | 14.1% | ||
| Q1 25 | — | -30.6% | ||
| Q4 24 | — | -198.9% | ||
| Q3 24 | — | -141.4% | ||
| Q2 24 | — | -4.9% | ||
| Q1 24 | — | 11.6% |
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.4% |
| Q4 25 | — | -0.59× | ||
| Q3 25 | — | 33.61× | ||
| Q2 25 | 0.18× | 5.29× | ||
| Q1 25 | — | -5.38× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.50× | -1.14× | ||
| Q1 24 | — | 1.56× |
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% |
JRVR
| Excess And Surplus Lines | $156.7M | 93% |
| Specialty Admitted Insurance | $10.9M | 7% |
