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Side-by-side financial comparison of Seadrill Ltd (SDRL) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $273.0M, roughly 1.4× Seadrill Ltd). Bristow Group Inc. runs the higher net margin — 4.9% vs -3.7%, a 8.5% gap on every dollar of revenue. Over the past eight quarters, Bristow Group Inc.'s revenue compounded faster (5.8% CAGR vs -8.9%).
Seadrill is an offshore drilling contractor providing worldwide offshore drilling services to the oil and gas industry. Its primary business is the ownership and operation of drillships, semi-submersible rigs, and jack-up rigs for operations in shallow to ultra-deep water in both benign and harsh environments. It provides a contract-based service and primarily serves the oil super-majors, integrated oil and gas, state-owned national oil, and independent oil and gas companies.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
SDRL vs VTOL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $273.0M | $377.3M |
| Net Profit | $-10.0M | $18.4M |
| Gross Margin | — | — |
| Operating Margin | -1.1% | 8.5% |
| Net Margin | -3.7% | 4.9% |
| Revenue YoY | — | 6.7% |
| Net Profit YoY | — | -42.1% |
| EPS (diluted) | — | $0.61 |
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 | $273.0M | $377.3M | ||
| Q3 25 | $280.0M | $386.3M | ||
| Q2 25 | $288.0M | $376.4M | ||
| Q1 25 | $248.0M | $350.5M | ||
| Q4 24 | — | $353.5M | ||
| Q3 24 | $263.0M | $365.1M | ||
| Q2 24 | $267.0M | $359.7M | ||
| Q1 24 | $275.0M | $337.1M |
| Q4 25 | $-10.0M | $18.4M | ||
| Q3 25 | $-11.0M | $51.5M | ||
| Q2 25 | $-42.0M | $31.7M | ||
| Q1 25 | $-14.0M | $27.4M | ||
| Q4 24 | — | $31.8M | ||
| Q3 24 | $32.0M | $28.2M | ||
| Q2 24 | $253.0M | $28.2M | ||
| Q1 24 | $60.0M | $6.6M |
| Q4 25 | -1.1% | 8.5% | ||
| Q3 25 | 9.3% | 13.1% | ||
| Q2 25 | 2.1% | 11.3% | ||
| Q1 25 | 7.3% | 9.6% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | 17.9% | 9.1% | ||
| Q2 24 | — | 12.4% | ||
| Q1 24 | 29.1% | 6.8% |
| Q4 25 | -3.7% | 4.9% | ||
| Q3 25 | -3.9% | 13.3% | ||
| Q2 25 | -14.6% | 8.4% | ||
| Q1 25 | -5.6% | 7.8% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | 12.2% | 7.7% | ||
| Q2 24 | 94.8% | 7.8% | ||
| Q1 24 | 21.8% | 2.0% |
| Q4 25 | — | $0.61 | ||
| Q3 25 | $-0.17 | $1.72 | ||
| Q2 25 | $-0.68 | $1.07 | ||
| Q1 25 | $-0.23 | $0.92 | ||
| Q4 24 | — | $1.07 | ||
| Q3 24 | $0.49 | $0.95 | ||
| Q2 24 | $3.49 | $0.96 | ||
| Q1 24 | $0.81 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $339.0M | $286.2M |
| Total DebtLower is stronger | $613.0M | $671.5M |
| Stockholders' EquityBook value | $2.9B | $1.1B |
| Total Assets | $3.9B | $2.3B |
| Debt / EquityLower = less leverage | 0.21× | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $339.0M | $286.2M | ||
| Q3 25 | $402.0M | $245.5M | ||
| Q2 25 | $393.0M | $251.8M | ||
| Q1 25 | $404.0M | $191.1M | ||
| Q4 24 | — | $247.5M | ||
| Q3 24 | — | $200.3M | ||
| Q2 24 | $835.0M | $178.6M | ||
| Q1 24 | — | $140.6M |
| Q4 25 | $613.0M | $671.5M | ||
| Q3 25 | $612.0M | $675.0M | ||
| Q2 25 | $612.0M | $705.2M | ||
| Q1 25 | $611.0M | $701.9M | ||
| Q4 24 | — | $689.8M | ||
| Q3 24 | — | $629.1M | ||
| Q2 24 | $609.0M | $594.2M | ||
| Q1 24 | — | $544.1M |
| Q4 25 | $2.9B | $1.1B | ||
| Q3 25 | $2.9B | $1.0B | ||
| Q2 25 | $2.9B | $984.4M | ||
| Q1 25 | $2.9B | $931.7M | ||
| Q4 24 | — | $891.7M | ||
| Q3 24 | $2.9B | $899.2M | ||
| Q2 24 | $3.1B | $849.1M | ||
| Q1 24 | $2.9B | $820.7M |
| Q4 25 | $3.9B | $2.3B | ||
| Q3 25 | $4.1B | $2.3B | ||
| Q2 25 | $4.1B | $2.3B | ||
| Q1 25 | $4.1B | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | $4.3B | $2.0B | ||
| Q1 24 | — | $1.9B |
| Q4 25 | 0.21× | 0.63× | ||
| Q3 25 | 0.21× | 0.65× | ||
| Q2 25 | 0.21× | 0.72× | ||
| Q1 25 | 0.21× | 0.75× | ||
| Q4 24 | — | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | 0.20× | 0.70× | ||
| Q1 24 | — | 0.66× |
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 | $-40.0M | $76.9M |
| Free Cash FlowOCF − Capex | — | $47.8M |
| FCF MarginFCF / Revenue | — | 12.7% |
| Capex IntensityCapex / Revenue | — | 7.7% |
| Cash ConversionOCF / Net Profit | — | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | — | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-40.0M | $76.9M | ||
| Q3 25 | $28.0M | $23.1M | ||
| Q2 25 | $11.0M | $99.0M | ||
| Q1 25 | $-27.0M | $-603.0K | ||
| Q4 24 | — | $51.1M | ||
| Q3 24 | $-27.0M | $66.0M | ||
| Q2 24 | $79.0M | $33.7M | ||
| Q1 24 | $29.0M | $26.7M |
| Q4 25 | — | $47.8M | ||
| Q3 25 | — | $-6.2M | ||
| Q2 25 | — | $67.4M | ||
| Q1 25 | — | $-52.7M | ||
| Q4 24 | — | $-32.4M | ||
| Q3 24 | — | $9.0M | ||
| Q2 24 | — | $-16.7M | ||
| Q1 24 | — | $-37.9M |
| Q4 25 | — | 12.7% | ||
| Q3 25 | — | -1.6% | ||
| Q2 25 | — | 17.9% | ||
| Q1 25 | — | -15.0% | ||
| Q4 24 | — | -9.2% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | -4.6% | ||
| Q1 24 | — | -11.2% |
| Q4 25 | — | 7.7% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 14.9% | ||
| Q4 24 | — | 23.6% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 14.0% | ||
| Q1 24 | — | 19.2% |
| Q4 25 | — | 4.17× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 3.12× | ||
| Q1 25 | — | -0.02× | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | -0.84× | 2.34× | ||
| Q2 24 | 0.31× | 1.20× | ||
| Q1 24 | 0.48× | 4.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SDRL
Segment breakdown not available.
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
