Core Viewpoint - Valaris Limited is a significant player in the offshore drilling industry, providing services globally and competing with major companies like Transocean and Noble Corporation [1] Company Performance - Valaris's stock price has increased by 3.52%, reaching $95.75, with fluctuations between $89.12 and $95.89 on the day [5] - Over the past year, the stock has ranged from a low of $27.15 to a high of $96.40, with a market capitalization of approximately $6.66 billion and a trading volume of 2,613,194 shares [5][6] Institutional Interest - Institutional investors have shown significant interest in Valaris, with Semanteon Capital Management LP acquiring 9,505 shares valued at approximately $464,000 [3] - ANTIPODES PARTNERS Ltd increased its holdings by 8,034% during the third quarter, now owning 580,198 shares worth $28.3 million [4] - Goehring and Rozencwajg Associates LLC expanded its position by 108.9%, holding 902,440 shares valued at $44 million [4][6] Analyst Insights - Charles Minervino from Susquehanna set a price target of $96 for Valaris, indicating a modest potential increase of 0.26% from the current stock price [2][6]

Mohnish Pabrai’s Dalal Street LLC reported an equity portfolio of approximately $402 million in the latest quarter, maintaining its signature high-conviction, concentrated value investing approach. The portfolio remains heavily focused on a small group of cyclical commodity and energy services companies, particularly coal producers and offshore drilling firms — areas where Pabrai has historically sought asymmetric upside tied to industry cycles and capital scarcity.The latest filing suggests selective posit ...

全球两大顶尖海上钻井承包商Transocean与Valaris正式达成合并协议，由Transocean通过全股票交易方式收购Valaris，合并完成后，一家坐拥超70座海上钻 井平台、总价值近1200亿人民币的全球最大海上钻井船东横空出世。 据悉，本次收购为全股票交易模式，交易总价约58亿美元，折合人民币约400.69亿元。交易完成后，合并后新公司的企业总价值将达到约170亿美元，折 合人民币约1174.44亿元，股权结构方面，Transocean原股东将持有合并后公司约53%的股份，Valaris股东则持有剩余47%的股份。 陈洋 Chen Yang yangchen@xindemarine.com 本次合并的核心价值在于实现了两家企业优质海上资产的高度互补，构建起覆盖全场景、全水深的综合服务能力。据统计，合并后的新公司将拥有73座钻 井平台，跻身全球最大钻井平台船队之列，业务全面覆盖超深水、恶劣环境及浅水三大核心市场，形成了"深水+浅水""高毛利+稳现金"的完美业务组合。 具体来看，船队构成涵盖33艘超深水钻井船、9座半潜式钻井平台和31座现代自升式钻井平台，同时手握约100亿美元（折合人民币690.85 ...

Fleet and Operations - Valaris owns a fleet of 46 rigs, including 13 drillships, 2 semisubmersible rigs, and 31 jackup rigs, with a 50% equity interest in ARO, which owns an additional 9 rigs[20]. - The company has a total of 31 jackup rigs in its fleet, with 13 drillships capable of drilling in water depths of up to 12,000 feet[200][198]. - The company has 13 drillships and 2 semisubmersibles, with the semisubmersibles capable of drilling in water depths of up to 10,000 feet[198][199]. - As of February 17, 2026, several rigs are under contract, including VALARIS DS-4, DS-7, DS-8, and DS-9, all of which are dynamically positioned drillships[196]. - The company has a future contract for VALARIS DS-10, which is a drillship expected to operate in Spain[196]. Financial Performance - During the year ended December 31, 2025, the five largest customers accounted for 49% of consolidated revenues, with Petrobras, BP, and Azule Energy contributing 35%[32]. - Revenues from non-U.S. operations represented 86%, 84%, and 80% of total consolidated revenues for the years ended December 31, 2025, 2024, and 2023, respectively[35]. - The current contract backlog for the company is approximately $4.7 billion as of February 17, 2026, compared to $3.6 billion on February 18, 2025, reflecting a significant increase[91]. - In 2025, the company's five largest customers accounted for 49% of consolidated revenues, with the largest customer representing 13% of total revenues, highlighting significant reliance on major clients[99]. - The company has not paid or declared any dividends on its common shares due to restrictions in its indenture and credit agreements[208]. Business Combination and Risks - On February 9, 2026, Valaris entered into a business combination agreement with Transocean, where Transocean will acquire all Valaris shares at an exchange ratio of 15.235 Transocean shares for each Valaris share[23]. - The Business Combination Agreement with Transocean involves an exchange ratio of 15.235 Transocean shares for each Valaris share, resulting in Transocean shareholders owning approximately 53% and Valaris shareholders 47% of the combined company[75]. - If the Business Combination Agreement is terminated under certain circumstances, the company may incur a termination fee of approximately $173 million to Transocean[78]. - The company is subject to various risks related to the Business Combination, including potential delays or failure to complete the transaction due to external factors[75]. - The company may experience risks associated with future mergers, acquisitions, or dispositions of businesses, which could impact its financial stability[1]. Market Conditions and Competition - The offshore drilling industry is currently experiencing an oversupply of oil, but is expected to shift to a tighter market over the next few years due to underinvestment in upstream development[24]. - Valaris operates in a highly competitive environment, with significant variations in rig supply and demand affecting rig utilization and day rates[26]. - The offshore contract drilling industry is highly competitive, with pricing, safety records, and operational efficiency being key factors in securing contracts[88]. - Competition for skilled personnel is intense, leading to challenges in recruitment and retention, which could affect operational capabilities[113]. Sustainability and Compliance - The company is focused on sustainability and has a dedicated department to promote sustainable business practices and manage related risks[45]. - The company has adopted a policy against modern slavery and human trafficking in its business and supply chains[50]. - Compliance with environmental laws and regulations may impose additional costs and operational limitations on the company[1]. - Increased regulation and sustainability initiatives may restrict offshore drilling activities, adversely impacting financial results[153]. - The EU's Corporate Sustainability Reporting Directive may require the company to report on sustainability topics as early as 2028 for certain subsidiaries, increasing compliance costs[178]. Cybersecurity and Operational Risks - The company has implemented a cybersecurity program with administrative, technical, and physical safeguards to manage risks from cybersecurity threats[185]. - Cybersecurity risks are integrated into the company's enterprise risk management process, with regular reviews by the Executive Management Committee and the board of directors[189]. - The Audit Committee oversees the company's IT and cybersecurity program, receiving quarterly reports on cybersecurity incidents and risks[190]. - The company engages third-party service providers for cybersecurity assessments to strengthen its cybersecurity posture[192]. - No material cybersecurity threats or incidents have been reported as of the date of the annual report, but future risks remain[195]. Workforce and Training - The global workforce of the company was approximately 5,070 persons, including contractors, and about 3,800 persons excluding contractors as of December 31, 2025[52]. - Approximately 1,620 personnel have attended the Building Organizational Leadership (BOLD) training program since its launch in 2021[55]. - The company launched an enhanced leadership development program for senior offshore leaders in 2025, delivered through targeted workshops[55]. - The company emphasizes employee wellbeing by offering an employee assistance program (EAP) that provides access to mental health professionals and other benefits[53]. - The company has a diverse workforce representing 78 nationalities across 25 locations[52]. Legal and Regulatory Risks - The company faces risks from litigation, including contract disputes and environmental claims, which could adversely affect financial results[160]. - Increased climate-related litigation risks may arise, particularly from governmental entities seeking damages related to climate change[161]. - The company may encounter challenges in enforcing judgments against its directors and officers due to its Bermuda incorporation[162]. - Provisions in the company's bye-laws could delay or prevent a change in control, potentially affecting the price of its Common Shares[164]. - The company is subject to various international trade laws and regulations that could impact its operations and financial position[174]. Financial Covenants and Shareholder Returns - The 2028 Credit Agreement includes financial covenants requiring a minimum book value of equity to total assets ratio, interest coverage ratio, and liquidity[141]. - Valaris Limited's cumulative total shareholder return increased from $100 to $285.3 by 2023, reflecting a 185.3% growth since May 3, 2021[214]. - The cumulative total return for the S&P MidCap 400 Index was $105.9 by 2023, indicating a 5.9% increase since the same date[218]. - Valaris Limited's stock performance outperformed the Industry Index, which had a cumulative return of $167.3 by 2023[218]. - The company plans to continue its market expansion and product development strategies to enhance shareholder value[214].

据财报数据，公司当前市盈率（PE）为3.6倍（基于调整收盘价50.4美元），低于行业平均水平。投资 资本回报率（ROIC）为12.94%，表明资本配置效率良好。 全年经营活动现金流为5.46亿美元，自由现金流为2.03亿美元，流动性充足。全年稀释每股收益为13.99 美元，净资产收益率（ROE）达36.33%，资产回报率（ROA）为20.21%，均处于行业较高水平。截至 2025年末，公司资产负债率为40.21%，流动比率为1.77，财务结构健康。 公司基本面 第四季度单季营业收入为5.37亿美元，同比下降8.04%，但净利润同比增幅达436.65%，显示公司在收入 短期承压时通过成本优化实现利润弹性。全年营收微增背景下，净利润大幅增长，印证其盈利质量改 善。 公司估值 经济观察网 华仕伯（VAL.US）发布2025财年财报，全年净利润同比大幅增长163.20%，净利率提升至 41.49%。 业绩经营情况 2025财年全年营业收入为23.69亿美元，同比增长0.27%；净利润达9.83亿美元，同比大幅增长 163.20%，净利率提升至41.49%。第四季度单季净利润为7.18亿美元，净利率高达133.51%， ...

Valaris Limited (VAL) came out with quarterly earnings of $0.79 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $1.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +54.90%. A quarter ago, it was expected that this company would post earnings of $1 per share when it actually produced earnings of $2.65, delivering a surprise of +165%.Over the last four quarters, the company has ...

www.valaris.com Press Release Dibowitz added, "Our strong operating performance continues to translate into significant contracting success. Since our last quarterly report, we secured nearly $900 million of additional backlog, further strengthening our robust contract coverage across 2026 and 2027. After addressing the white space on our open drillship capacity earlier this year, we recently announced contract awards for VALARIS DS-7 and DS-9, and we expect all ten of our active drillships to be working as ...

Valaris Limited (NYSE:VAL) is set to release its quarterly earnings with an expected EPS of $0.40 and projected revenue of $494.4 million.The company's share price experienced a significant drop following the announcement of its acquisition by Transocean in a $5.8 billion all-stock deal.Valaris's financial metrics reveal a P/E ratio of 15.76 and a debt-to-equity ratio of 0.48, indicating moderate debt levels and a strong ability to cover short-term liabilities.Valaris Limited (NYSE:VAL) is a key player in t ...

What a difference one week is making in the life of offshore contract drilling services specialist Valaris Limited (NYSE: VAL). A mere eight days after announcing it was being acquired for a premium, the company's share price fell by more than 7% on Tuesday. Investors were disquieted by the delay in their company's latest earnings release, and were likely concerned about the acquirer's share price slide during that trading session. Post-acquisition adjustments Before market open that morning, Valaris an ...

Core Viewpoint - Valaris has announced the rescheduling of its Fourth Quarter 2025 earnings release and the cancellation of its conference call [1] Group 1 - The earnings release for the Fourth Quarter 2025 will now take place at a later date, although the specific new date has not been provided [1] - The company has decided to cancel the associated conference call that typically follows the earnings release [1]