Borr Drilling (BORR) Operating Expenses (2018 - 2026)
Borr Drilling (BORR) posted quarterly Operating Expenses of -$144.7 million for Q1 2026, down 31.79% year-over-year from -$212.1 million in Q1 2025, and down 3.28% quarter-over-quarter from -$140.1 million in Q4 2025.
Borr Drilling (BORR) Operating Expenses (2018 - 2026) Analysis & Trends
Borr Drilling (BORR) has reported Operating Expenses for 9 consecutive years, with -$144.7 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses fell 31.79% year-over-year to -$144.7 million; the TTM figure through Mar 2026 stood at -$277.1 million (up 40.05% YoY), while the FY2025 annual figure was $699.0 million, up 9.77% from the prior year.
- Operating Expenses eased to -$144.7 million in Q1 2026 per BORR's latest filing, from -$140.1 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.
- Historically, Operating Expenses has averaged -$86.3 million across 5 years, with a median of -$98.5 million in 2023.
- Annual changes were most pronounced in 2022 — Operating Expenses slumped 115.5% — and 2025, when it soared 256.52%.
- Borr Drilling's Operating Expenses stood at -$83.4 million in 2022, then fell by 18.11% to -$98.5 million in 2023, then retreated by 15.74% to -$114.0 million in 2024, then decreased by 22.89% to -$140.1 million in 2025, then retreated by 3.28% to -$144.7 million in 2026.
- Business Quant data shows BORR's Operating Expenses at -$144.7 million in Q1 2026, -$140.1 million in Q4 2025, and $178.9 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Noble | 7.50 Bn | 7.04 Bn | 273.38 Mn | 689.21 Mn |
| 2 | Transocean | 6.69 Bn | 5.90 Bn | 358.00 Mn | 812.00 Mn |
| 3 | Patterson Uti Energy | 4.68 Bn | 4.48 Bn | 597.25 Mn | 1.23 Bn |
| 4 | Helmerich & Payne | 4.36 Bn | 4.12 Bn | 349.94 Mn | 846.65 Mn |
| 5 | Seadrill | 2.96 Bn | 2.60 Bn | 234.00 Mn | 377.00 Mn |
| 6 | Borr Drilling | 1.40 Bn | 1.18 Bn | - | 232.10 Mn |
| 7 | Nabors Industries | 1.30 Bn | 789.30 Mn | 309.38 Mn | 802.04 Mn |
| 8 | Precision Drilling | 1.18 Bn | 1.13 Bn | 89.29 Mn | 19.12 Mn |
| 9 | Valaris | 827.45 Mn | 286.25 Mn | 123.70 Mn | 498.70 Mn |
| 10 | Sable Offshore | 771.19 Mn | 749.59 Mn | - | 204.02 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 232.10 Mn |
| Mar 31, 2026 | -144.70 Mn |
| Dec 31, 2025 | -140.10 Mn |
| Sep 30, 2025 | 178.90 Mn |
| Jun 30, 2025 | -171.20 Mn |
| Mar 31, 2025 | -109.80 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 |