Borr Drilling (BORR) Operating Expenses (2018 - 2025)
Borr Drilling (BORR) reported Operating Expenses of -$140.1 million for Q4 2025, down 22.89% year-over-year from -$181.7 million in Q4 2024, and down 178.31% on a QoQ basis from $178.9 million in Q3 2025.
Borr Drilling (BORR) has 8 years of Operating Expenses data on file, last reported at -$140.1 million in Q4 2025.
- Quarterly Operating Expenses fell 22.89% year-over-year to -$140.1 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $24.4 million (up 105.35% YoY) and the FY2025 annual result came in at $699.0 million, up 53.16% from the prior year.
- Operating Expenses slipped to -$140.1 million in Q4 2025 per BORR's latest filing, from $178.9 million in the prior quarter.
- Across five years, Operating Expenses topped out at $178.9 million in Q3 2025 and bottomed at -$171.2 million in Q2 2025.
- The 5-year median for Operating Expenses is -$84.4 million (2022), against an average of -$61.8 million.
- The widest annual swing landed in 2022, when Operating Expenses plunged 115.5%; it then jumped 256.52% in 2025.
- Tracing BORR's Operating Expenses over 5 years: stood at -$38.7 million in 2021, then plunged by 115.5% to -$83.4 million in 2022, then slipped by 18.11% to -$98.5 million in 2023, then dropped by 15.74% to -$114.0 million in 2024, then declined by 22.89% to -$140.1 million in 2025.
- Per Business Quant, the three latest BORR Operating Expenses figures stand at -$140.1 million (Q4 2025), $178.9 million (Q3 2025), and -$171.2 million (Q2 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Precision Drilling | 157.47 Bn | 157.41 Bn | 120.82 Mn | 30.44 Mn |
| 2 | Noble | 8.34 Bn | 7.67 Bn | 755.58 Mn | 560.38 Mn |
| 3 | Transocean | 7.55 Bn | 6.94 Bn | 475.00 Mn | 798.00 Mn |
| 4 | Patterson Uti Energy | 4.63 Bn | 4.30 Bn | 535.85 Mn | 1.13 Bn |
| 5 | Helmerich & Payne | 3.96 Bn | 3.86 Bn | 907.56 Mn | 969.28 Mn |
| 6 | Seadrill | 3.20 Bn | 2.87 Bn | 177.00 Mn | 334.00 Mn |
| 7 | Sable Offshore | 2.10 Bn | 2.05 Bn | -66.76 Mn | 120.03 Mn |
| 8 | Nabors Industries | 1.49 Bn | 1.37 Bn | 290.08 Mn | 765.29 Mn |
| 9 | Borr Drilling | 1.48 Bn | 1.10 Bn | - | -140.10 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -140.10 Mn |
| Sep 30, 2025 | 178.90 Mn |
| Jun 30, 2025 | -171.20 Mn |
| Mar 31, 2025 | 156.80 Mn |
| Dec 31, 2024 | -114.00 Mn |
| Sep 30, 2024 | -114.30 Mn |
| Jun 30, 2024 | -124.10 Mn |
| Mar 31, 2024 | -104.00 Mn |
| Dec 31, 2023 | -98.50 Mn |
| Sep 30, 2023 | -85.80 Mn |
| Jun 30, 2023 | -89.50 Mn |
| Mar 31, 2023 | -85.50 Mn |
| Dec 31, 2022 | -83.40 Mn |
| Sep 30, 2022 | -60.40 Mn |
| Jun 30, 2022 | -65.50 Mn |
| Mar 31, 2022 | -55.60 Mn |
| Dec 31, 2021 | -38.70 Mn |
| Sep 30, 2021 | -45.60 Mn |
| Jun 30, 2021 | -47.40 Mn |
| Mar 31, 2021 | -48.80 Mn |
| Dec 31, 2020 | -53.90 Mn |
| Sep 30, 2020 | -63.40 Mn |
| Jun 30, 2020 | -82.70 Mn |
| Mar 31, 2020 | -70.40 Mn |
| Dec 31, 2019 | -81.60 Mn |
| Sep 30, 2019 | -87.90 Mn |
| Jun 30, 2019 | -81.40 Mn |
| Mar 31, 2019 | -57.10 Mn |
| Dec 31, 2018 | -59.50 Mn |
| Sep 30, 2018 | -45.70 Mn |
| Jun 30, 2018 | -52.40 Mn |