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Side-by-side financial comparison of Borr Drilling Ltd (BORR) and Ralliant Corp (RAL). Click either name above to swap in a different company.
Ralliant Corp is the larger business by last-quarter revenue ($529.1M vs $267.7M, roughly 2.0× Borr Drilling Ltd). Borr Drilling Ltd runs the higher net margin — 13.1% vs 7.5%, a 5.6% gap on every dollar of revenue. On growth, Ralliant Corp posted the faster year-over-year revenue change (-0.5% 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 RAL — Head-to-Head
Income Statement — Q2 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $267.7M | $529.1M |
| Net Profit | $35.1M | $39.9M |
| Gross Margin | — | 50.8% |
| Operating Margin | 36.0% | 9.8% |
| Net Margin | 13.1% | 7.5% |
| Revenue YoY | -1.5% | -0.5% |
| Net Profit YoY | 10.7% | -56.1% |
| EPS (diluted) | $0.14 | $0.35 |
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.
| Q3 25 | — | $529.1M | ||
| Q2 25 | $267.7M | $503.3M | ||
| Q3 24 | — | $531.7M | ||
| Q2 24 | $271.9M | $533.7M | ||
| Q2 23 | $187.5M | — | ||
| Q2 22 | $105.3M | — |
| Q3 25 | — | $39.9M | ||
| Q2 25 | $35.1M | $47.6M | ||
| Q3 24 | — | $90.9M | ||
| Q2 24 | $31.7M | $64.8M | ||
| Q2 23 | $800.0K | — | ||
| Q2 22 | $-165.3M | — |
| Q3 25 | — | 50.8% | ||
| Q2 25 | — | 49.3% | ||
| Q3 24 | — | 52.6% | ||
| Q2 24 | — | 51.5% | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
| Q3 25 | — | 9.8% | ||
| Q2 25 | 36.0% | 11.7% | ||
| Q3 24 | — | 20.9% | ||
| Q2 24 | 38.4% | 19.7% | ||
| Q2 23 | 31.9% | — | ||
| Q2 22 | -116.8% | — |
| Q3 25 | — | 7.5% | ||
| Q2 25 | 13.1% | 9.5% | ||
| Q3 24 | — | 17.1% | ||
| Q2 24 | 11.7% | 12.1% | ||
| Q2 23 | 0.4% | — | ||
| Q2 22 | -157.0% | — |
| Q3 25 | — | $0.35 | ||
| Q2 25 | $0.14 | $0.42 | ||
| Q3 24 | — | $0.81 | ||
| Q2 24 | $0.12 | $0.57 | ||
| Q2 23 | $0.00 | — | ||
| Q2 22 | $-1.09 | — |
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 | $264.2M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $1.0B | $3.0B |
| Total Assets | $3.4B | $5.3B |
| Debt / EquityLower = less leverage | — | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $264.2M | ||
| Q2 25 | $92.4M | $198.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | $195.3M | — | ||
| Q2 23 | $83.8M | — | ||
| Q2 22 | $29.7M | — |
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | $281.8M | — |
| Q3 25 | — | $3.0B | ||
| Q2 25 | $1.0B | $3.0B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | $999.2M | $4.0B | ||
| Q2 23 | $906.2M | — | ||
| Q2 22 | $711.5M | — |
| Q3 25 | — | $5.3B | ||
| Q2 25 | $3.4B | $5.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | $3.2B | — | ||
| Q2 23 | $3.0B | — | ||
| Q2 22 | $3.0B | — |
| Q3 25 | — | 0.39× | ||
| Q2 25 | — | 0.38× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | 0.40× | — |
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 | $138.6M |
| Free Cash FlowOCF − Capex | — | $126.6M |
| FCF MarginFCF / Revenue | — | 23.9% |
| Capex IntensityCapex / Revenue | — | 2.3% |
| Cash ConversionOCF / Net Profit | 0.18× | 3.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $138.6M | ||
| Q2 25 | $6.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $16.0M | — | ||
| Q2 23 | $2.4M | — | ||
| Q2 22 | $-8.5M | — |
| Q3 25 | — | $126.6M | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
| Q3 25 | — | 23.9% | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
| Q3 25 | — | 3.47× | ||
| Q2 25 | 0.18× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.50× | — | ||
| Q2 23 | 3.00× | — | ||
| Q2 22 | — | — |
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% |
RAL
| Industrial Manufacturing | $111.1M | 21% |
| Defense And Space | $93.6M | 18% |
| Diversified Electronics | $91.0M | 17% |
| Test And Measurement | $76.8M | 15% |
| Communications | $60.7M | 11% |
| Semiconductors | $51.4M | 10% |
| Other Direct End Markets | $44.4M | 8% |
