Seadrill (SDRL)
Market Price (8/15/2026): $47.96 | Market Cap: $3.0 BilSector: Energy | Industry: Oil & Gas Drilling
Seadrill (SDRL)
Market Price (8/15/2026): $47.96Market Cap: $3.0 BilSector: EnergyIndustry: Oil & Gas Drilling
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 42% Megatrend and thematic driversMegatrends include Global Energy Security & Supply, and Energy Transition & Decarbonization. Themes include Offshore Oil & Gas Exploration & Production (E&P) Services, Geothermal Energy, Show more. | Weak multi-year price returns2Y Excs Rtn is -38%, 3Y Excs Rtn is -73% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 37x, P/EPrice/Earnings or Price/(Net Income) is 2,975x Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3.4%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -8.6% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.4% Key risksSDRL key risks include [1] operational downtime and costs from heavy rig maintenance and idle time, Show more. |
| Low stock price volatilityVol 12M is 42% |
| Megatrend and thematic driversMegatrends include Global Energy Security & Supply, and Energy Transition & Decarbonization. Themes include Offshore Oil & Gas Exploration & Production (E&P) Services, Geothermal Energy, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -38%, 3Y Excs Rtn is -73% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 37x, P/EPrice/Earnings or Price/(Net Income) is 2,975x |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3.4%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -8.6% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.4% |
| Key risksSDRL key risks include [1] operational downtime and costs from heavy rig maintenance and idle time, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Seadrill (SDRL) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Fiscal Q1 2026 Earnings Missed Analyst Estimates.
Seadrill reported a diluted loss per share (LPS) of $(0.11) for fiscal Q1 2026, which ended March 31, 2026, missing the consensus estimate of $(0.10). The company also reported a net loss of $7 million for the quarter, despite revenues of $358 million exceeding expectations.
2. Debt Refinancing Resulted in a Significant Extinguishment Loss.
On June 30, 2026, Seadrill issued $700 million of 6.750% senior notes due 2034 to refinance its existing $575 million 8.375% secured notes due 2030. This transaction incurred a $35 million extinguishment loss.
Show more
Seadrill (SDRL) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Fiscal Q1 2026 Earnings Missed Analyst Estimates.
Seadrill reported a diluted loss per share (LPS) of $(0.11) for fiscal Q1 2026, which ended March 31, 2026, missing the consensus estimate of $(0.10). The company also reported a net loss of $7 million for the quarter, despite revenues of $358 million exceeding expectations.
2. Debt Refinancing Resulted in a Significant Extinguishment Loss.
On June 30, 2026, Seadrill issued $700 million of 6.750% senior notes due 2034 to refinance its existing $575 million 8.375% secured notes due 2030. This transaction incurred a $35 million extinguishment loss.
3. Insider Selling Exceeded the $5 Million Threshold.
Over the three months leading up to August 11, 2026, Seadrill experienced net insider selling amounting to $5.4 million, indicating a cautious sentiment from company insiders.
4. Notable Cash Outflows in Fiscal Q2 2026.
During fiscal Q2 2026, which ended June 30, 2026, Seadrill experienced significant cash outflows. These included a $20 million accelerated interest expense payment related to the redemption of prior senior notes and a $16 million final payment for a legacy legal judgment concerning the Sonadrill joint venture.
Show less
Stock Movement Drivers
Fundamental Drivers
The -3.4% change in SDRL stock from 4/30/2026 to 8/14/2026 was primarily driven by a -9.4% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 8142026 | Change |
|---|---|---|---|
| Stock Price ($) | 49.69 | 47.98 | -3.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,437 | 1,532 | 6.6% |
| P/S Multiple | 2.1 | 1.9 | -9.4% |
| Shares Outstanding (Mil) | 62 | 62 | 0.0% |
| Cumulative Contribution | -3.4% |
Market Drivers
4/30/2026 to 8/14/2026| Return | Correlation | |
|---|---|---|
| SDRL | -3.4% | |
| Market (SPY) | 8.0% | -12.0% |
| Sector (XLE) | 3.8% | 70.0% |
Fundamental Drivers
The 24.7% change in SDRL stock from 1/31/2026 to 8/14/2026 was primarily driven by a 4139.4% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8142026 | Change |
|---|---|---|---|
| Stock Price ($) | 38.48 | 47.98 | 24.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,364 | 1,532 | 12.3% |
| Net Income Margin (%) | 2.5% | 0.1% | -97.4% |
| P/E Multiple | 70.2 | 2,974.8 | 4139.4% |
| Shares Outstanding (Mil) | 62 | 62 | 0.0% |
| Cumulative Contribution | 24.7% |
Market Drivers
1/31/2026 to 8/14/2026| Return | Correlation | |
|---|---|---|
| SDRL | 24.7% | |
| Market (SPY) | 12.5% | 3.9% |
| Sector (XLE) | 22.1% | 64.7% |
Fundamental Drivers
The 64.5% change in SDRL stock from 7/31/2025 to 8/14/2026 was primarily driven by a 61109.1% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 8142026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.16 | 47.98 | 64.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,353 | 1,532 | 13.2% |
| Net Income Margin (%) | 27.5% | 0.1% | -99.8% |
| P/E Multiple | 4.9 | 2,974.8 | 61109.1% |
| Shares Outstanding (Mil) | 62 | 62 | 0.0% |
| Cumulative Contribution | 64.5% |
Market Drivers
7/31/2025 to 8/14/2026| Return | Correlation | |
|---|---|---|
| SDRL | 64.5% | |
| Market (SPY) | 23.9% | 15.6% |
| Sector (XLE) | 45.4% | 56.7% |
Fundamental Drivers
The -1.9% change in SDRL stock from 7/31/2023 to 8/14/2026 was primarily driven by a -99.3% change in the company's Net Income Margin (%).| (LTM values as of) | 7312023 | 8142026 | Change |
|---|---|---|---|
| Stock Price ($) | 48.91 | 47.98 | -1.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,063 | 1,532 | 44.1% |
| Net Income Margin (%) | 8.9% | 0.1% | -99.3% |
| P/E Multiple | 25.7 | 2,974.8 | 11456.0% |
| Shares Outstanding (Mil) | 50 | 62 | -19.4% |
| Cumulative Contribution | -1.9% |
Market Drivers
7/31/2023 to 8/14/2026| Return | Correlation | |
|---|---|---|
| SDRL | -1.9% | |
| Market (SPY) | 75.6% | 37.5% |
| Sector (XLE) | 54.7% | 61.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SDRL Return | - | 23% | 45% | -18% | -11% | 36% | 77% |
| Peers Return | 24% | 68% | 23% | -36% | 7% | 56% | 174% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| SDRL Win Rate | - | 100% | 42% | 33% | 50% | 75% | |
| Peers Win Rate | 47% | 56% | 42% | 36% | 67% | 75% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SDRL Max Drawdown | - | - | -23% | -36% | -52% | -31% | |
| Peers Max Drawdown | -46% | -36% | -29% | -46% | -46% | -34% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NE, RIG, VAL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/14/2026 (YTD)
How Low Can It Go
| Event | SDRL | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -38.1% | -18.8% |
| % Gain to Breakeven | 61.6% | 23.1% |
| Time to Breakeven | 90 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -13.9% | -7.8% |
| % Gain to Breakeven | 16.2% | 8.5% |
| Time to Breakeven | 645 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -15.0% | -9.5% |
| % Gain to Breakeven | 17.6% | 10.5% |
| Time to Breakeven | 45 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.2% | -6.7% |
| % Gain to Breakeven | 25.3% | 7.1% |
| Time to Breakeven | 116 days | 31 days |
In The Past
Seadrill's stock fell -38.1% during the 2025 US Tariff Shock. Such a loss loss requires a 61.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | SDRL | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -38.1% | -18.8% |
| % Gain to Breakeven | 61.6% | 23.1% |
| Time to Breakeven | 90 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.2% | -6.7% |
| % Gain to Breakeven | 25.3% | 7.1% |
| Time to Breakeven | 116 days | 31 days |
In The Past
Seadrill's stock fell -38.1% during the 2025 US Tariff Shock. Such a loss loss requires a 61.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Seadrill (SDRL)
Seadrill (SDRL) is a deepwater drilling contractor operating within the global petroleum industry. The company's core business involves providing specialized drilling services to oil and gas companies seeking to extract hydrocarbons from challenging offshore environments, particularly in deep and ultra-deep waters. Essentially, Seadrill supplies the crucial equipment and expertise necessary to drill wells far below the ocean surface.
To deliver these services, Seadrill owns and operates a sophisticated fleet of offshore drilling units. These include semi-submersible platforms, which are floating vessels designed for drilling in deep water; jackup rigs, mobile platforms that stand on legs elevated above the sea surface for shallower to mid-water operations; and advanced drillships, which are self-propelled vessels equipped for ultra-deepwater exploration and production. These high-specification assets are contracted out to customers for their drilling campaigns.
The primary customers for Seadrill's drilling services are major international and national oil and gas companies, as well as independent exploration and production firms. These companies rely on Seadrill's specialized equipment and experienced crews to access and develop offshore oil and gas reserves, thereby supporting the global supply of energy to various markets worldwide.
AI Analysis | Feedback
Here are 1-3 brief analogies for Seadrill (SDRL):
- 'United Rentals for deepwater oil and gas drilling.'
- 'A specialized Halliburton or Schlumberger, focused solely on operating massive deepwater drilling rigs.'
AI Analysis | Feedback
- Semi-submersible Rig Services: Providing contract drilling services using semi-submersible platforms for offshore oil and gas exploration and development.
- Jackup Rig Services: Offering contract drilling services with jackup rigs, typically for shallow water oil and gas drilling projects.
- Drillship Services: Supplying contract drilling services with drillships for deepwater and ultra-deepwater oil and gas exploration and production.
AI Analysis | Feedback
Seadrill (SDRL) sells its deepwater drilling services primarily to other companies in the petroleum industry. Its major customers are typically large international and national oil and gas companies that engage in exploration and production activities. Based on recent contract awards and disclosures, some of its major customers include:
- ExxonMobil (XOM)
- Petrobras (PBR)
- Equinor (EQNR)
- Saudi Aramco (Publicly traded on the Saudi Exchange under 2222.SR)
AI Analysis | Feedback
- National Oilwell Varco (NOV)
- Schlumberger (SLB)
- Baker Hughes (BKR)
- TechnipFMC (FTI)
AI Analysis | Feedback
Samir Ali President and Chief Executive Officer
Samir Ali was appointed President and Chief Executive Officer of Seadrill on March 12, 2026. Prior to this, he served as Executive Vice President, Chief Commercial Officer since August 2022. Before joining Seadrill, Mr. Ali was with Diamond Offshore, where he held the position of Vice President of Investor Relations and Corporate Development. He also has experience as a Debt and Equity Investment Portfolio Manager at Bain Capital and as an Investment Banker at Simmons & Company.
Grant Creed Executive Vice President and Chief Financial Officer
Grant Creed was appointed Executive Vice President and Chief Financial Officer in May 2021. He joined Seadrill in 2013 and has held several roles within the company, including Chief Restructuring Officer, VP Mergers & Acquisitions, and VP Corporate and Commercial Finance. Before his time at Seadrill, Mr. Creed held M&A Transaction Services and Audit positions at Deloitte. He is a chartered accountant and holds a bachelor's degree of Commerce in Accounting.
Torsten Sauer-Petersen Executive Vice President, Chief Technology and Sustainability Officer
Todd Strickler Senior Vice President and General Counsel
Marcel Wieggers Senior Vice President, Operations
AI Analysis | Feedback
Here are the key risks to Seadrill's business:
- Market Volatility and Cyclicality of the Oil and Gas Industry: Seadrill's business is highly dependent on the level of activity in the offshore oil and gas industry, making it susceptible to fluctuations in oil and gas prices, reduced demand, and increased regulation. These factors can lead to contract renegotiations at unfavorable rates or cancellations, directly impacting the company's revenue and profitability. The company's cash generation is also highly sensitive to commodity price swings, and its stock exhibits high volatility and greater sensitivity to market movements.
- Operational Difficulties, High Costs, and Execution Risks: Seadrill faces significant operational challenges and high costs that can limit profitability. These include high reactivation costs for rigs, regional market softness, and the economic challenges associated with relocating rigs between geographies. Unplanned downtime for rigs and other operational events can also impact profitability. Furthermore, risks related to an aging fleet and the potential for asset impairments can weigh on earnings.
- Intense Competition and Pricing Pressure: The offshore drilling industry is highly competitive, with Seadrill competing with other major contractors such as Transocean and Valaris. This intense competition, coupled with market softness in certain regions, can lead to aggressive pricing strategies and pressure on day rates, which may limit Seadrill's ability to secure favorable contract terms and impact its market share and financial results.
AI Analysis | Feedback
AI Analysis | Feedback
Seadrill (SDRL) operates in the global offshore drilling market, specifically utilizing semi-submersible platforms, jackup rigs, and drillships for deepwater drilling services in the petroleum industry. The addressable markets for its main products and services are substantial and are projected to grow significantly.
Global Offshore Drilling Market
The global offshore drilling market, which encompasses the broad scope of Seadrill's services, was valued at approximately USD 42.40 billion in 2025. Projections indicate that this market is expected to grow to around USD 60.76 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 4.60% during this period. Other estimates place the market value at USD 43.78 billion in 2025, with a projected increase to USD 87.50 billion by 2034, growing at a CAGR of 7.87%.
Deepwater Drilling Market
Within the broader offshore drilling sector, the deepwater drilling segment is a critical focus for Seadrill. The global deepwater drilling market was valued at USD 20.17 billion in 2024 and is projected to reach USD 33.83 billion by 2030, with a CAGR of 9.00%. Another source indicates the deepwater drilling market advanced from USD 36.56 billion in 2025 to USD 39.40 billion in 2026 and is expected to reach USD 62.54 billion by 2032, at a CAGR of 7.96%. The deepwater segment held the largest revenue share, 45.8%, of the offshore drilling market in 2025.
Jackup Rigs Market
The global market for jackup rigs, which are utilized for shallow to moderate-depth offshore drilling operations, was valued at approximately USD 3.03 billion in 2024. This market is anticipated to grow to USD 4.71 billion by 2033, with a CAGR of 5% during the forecast period. Another report estimates the market at USD 3.4 billion in 2024, with a projected growth to USD 4.6 billion by 2030 at a CAGR of 4.90%.
Drillship Market
For drillships, specialized vessels designed for deep-water and ultra-deepwater drilling, the global market was valued at approximately USD 3.2 billion in 2024. It is expected to reach around USD 7.0 billion by 2034, demonstrating a CAGR of 8.5%. Other estimates indicate the market size grew from USD 5.57 billion in 2025 to USD 6.02 billion in 2026, and is projected to reach USD 8.08 billion by 2030, with a CAGR of 7.6%.
Semi-Submersible Rigs Market
The global semi-submersible drilling rig market was estimated at USD 9.1 billion in 2024. This market is projected to expand to USD 15.7 billion by 2033, at a CAGR of 6.2%. Another report projects the global semi-submersible drilling rig market to be USD 13.36 billion in 2025, with an anticipated CAGR of 6.3% from 2025 to 2033. The overall market size for semi-submersible drilling rigs, including new construction, charter hire, and operational services, is estimated to be between USD 15 billion and USD 20 billion annually.
AI Analysis | Feedback
Seadrill (SDRL) is anticipated to experience revenue growth over the next 2-3 years, driven by several key factors:
- Rising Day Rates and Utilization: The ultra-deepwater market entered 2026 with renewed strength, and a more robust 2027 is forecasted, characterized by increasing day rates, utilization, and contract durations, which will positively impact Seadrill's revenue.
- Repricing of Legacy Contracts: The company expects to realize the benefits of repricing legacy contracts for rigs such as the West Jupiter, West Tellus, and West Saturn, particularly in the second half of 2026 and even more significantly in 2027, leading to higher revenue per operating day.
- Expansion of Contract Backlog: Seadrill has grown its contracted backlog to approximately $2.5 billion as of February 25, 2026, including multi-month and multi-year agreements. This provides a strong foundation and visibility for future revenue streams extending into 2027.
- Deployment of Reactivated Rigs: The return to service of rigs like the West Capella in Q2 2026 is projected to significantly enhance Seadrill's forward earnings trajectory. This rig alone is expected to contribute $152 million to the contracted backlog.
- Strategic Presence in Growing Deepwater Regions: Seadrill is well-positioned to capitalize on increasing demand in key deepwater regions, including Africa, Southeast Asia, and the U.S. Gulf of Mexico. The company's continued presence and contract awards in these areas are expected to drive revenue growth.
AI Analysis | Feedback
Share Repurchases
- Seadrill authorized a share repurchase program of up to $250 million in September 2023.
- The company completed the $250 million share repurchase program initiated in December 2023.
- In June 2024, a new $500 million share repurchase program was authorized for two years, with an initial tranche of up to $200 million authorized for purchase by September 30, 2024.
Share Issuance
- Upon emerging from Chapter 11 bankruptcy on February 23, 2022, approximately 50 million new common shares were issued as part of the reorganization.
- This restructuring involved equitizing approximately $4.9 billion of secured bank debt.
Inbound Investments
- As part of its February 2022 Chapter 11 restructuring, Seadrill raised $350 million in new financing.
- Institutional ownership in Seadrill (SDRL) stood at 104.09% as of March 2026, indicating substantial interest from large investors.
Outbound Investments
- Seadrill acquired Aquadrill, an offshore drilling services provider, in December 2022.
- In January 2022, Seadrill disposed of 65% pro forma equity in its unit Seadrill New Finance Limited (now Paratus Energy Services Ltd), retaining 35% and separating this unit from the consolidated Seadrill group.
Capital Expenditures
- Capital expenditures and long-term maintenance for Seadrill were $69 million in the fourth quarter of 2025, including accelerated spending for contract preparations for the West Capella, West Jupiter, and West Tellus rigs.
- For the full year 2026, Seadrill has provided guidance for capital expenditure and long-term maintenance in the range of $200 million to $240 million.
- Capital expenditures for Seadrill Ltd amounted to -$157 million USD as of December 31, 2024.
Peer Outperformance in Oil & Gas Drilling
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Oil & Gas Refining & Marketing | 11 | 119.5% | 128.3% | 324.7% | PBF 813% · MPC 577% · VLO 502% |
| Oil & Gas Storage & Transportation | 18 | 35.6% | 118.7% | 236.4% | INSW 875% · LPG 752% · TRGP 597% |
| Integrated Oil & Gas | 7 | 50.6% | 62.3% | 233.9% | IMO 454% · CVE 328% · SU 327% |
| Coal & Consumable Fuels | 14 | 29.3% | 65.0% | 175.7% | EU 1114% · LEU 722% · CCJ 491% |
| Oil & Gas Equipment & Services | 34 | 69.3% | 44.9% | 140.0% | FTI 1064% · SEI 883% · TDW 737% |
| Oil & Gas Exploration & Production | 51 | 23.3% | 4.9% | 111.6% | KGEI 10167% · OBE 6446% · EP 2683% |
| Oil & Gas Drilling ← | 7 | 83.6% | 0.0% | 95.5% | VAL 234% · PDS 168% · NE 148% |
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 46.54 |
| Mkt Cap | 6.2 |
| Rev LTM | 2,603 |
| Op Inc LTM | 324 |
| FCF LTM | 130 |
| FCF 3Y Avg | 116 |
| CFO LTM | 620 |
| CFO 3Y Avg | 464 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -1.3% |
| Rev Chg 3Y Avg | 11.8% |
| Rev Chg Q | -7.3% |
| QoQ Delta Rev Chg LTM | -2.0% |
| Op Inc Chg LTM | 16.5% |
| Op Inc Chg 3Y Avg | 63.2% |
| Op Mgn LTM | 12.4% |
| Op Mgn 3Y Avg | 12.9% |
| QoQ Delta Op Mgn LTM | -0.8% |
| CFO/Rev LTM | 20.5% |
| CFO/Rev 3Y Avg | 15.3% |
| FCF/Rev LTM | 4.1% |
| FCF/Rev 3Y Avg | 2.0% |
Price Behavior
| Market Price | $47.98 | |
| Market Cap ($ Bil) | 3.0 | |
| First Trading Date | 10/14/2022 | |
| Distance from 52W High | -12.4% | |
| 50 Days | 200 Days | |
| DMA Price | $41.99 | $40.72 |
| DMA Trend | up | down |
| Distance from DMA | 14.3% | 17.8% |
| 3M | 1YR | |
| Volatility | 46.7% | 42.3% |
| Downside Capture | -85.01 | -9.49 |
| Upside Capture | -106.93 | 50.55 |
| Correlation (SPY) | -13.6% | 14.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.25 | -0.23 | -0.27 | 0.20 | 0.59 | 1.05 |
| Up Beta | 3.90 | -0.06 | 0.03 | -0.21 | 0.39 | 0.86 |
| Down Beta | 0.34 | 0.44 | 0.08 | 1.05 | 1.26 | 1.67 |
| Up Capture | -33% | -64% | -57% | 21% | 52% | 44% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 14 | 20 | 28 | 62 | 130 | 368 |
| Down Capture | -340% | -40% | -33% | -9% | 24% | 98% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 8 | 23 | 34 | 63 | 120 | 381 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SDRL | |
|---|---|---|---|---|
| SDRL | 65.6% | 42.2% | 1.30 | - |
| Sector ETF (XLE) | 48.3% | 21.6% | 1.73 | 56.9% |
| Equity (SPY) | 21.5% | 12.8% | 1.25 | 14.4% |
| Gold (GLD) | 30.0% | 28.5% | 0.91 | 7.1% |
| Commodities (DBC) | 38.1% | 20.1% | 1.49 | 37.6% |
| Real Estate (VNQ) | 14.4% | 13.9% | 0.73 | 12.2% |
| Bitcoin (BTCUSD) | -48.7% | 42.8% | -1.44 | 19.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SDRL | |
|---|---|---|---|---|
| SDRL | 12.5% | 42.6% | 0.48 | - |
| Sector ETF (XLE) | 24.4% | 25.8% | 0.83 | 59.3% |
| Equity (SPY) | 13.4% | 17.2% | 0.60 | 34.7% |
| Gold (GLD) | 19.5% | 18.6% | 0.85 | 8.6% |
| Commodities (DBC) | 9.6% | 19.6% | 0.38 | 43.6% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 21.5% |
| Bitcoin (BTCUSD) | 8.2% | 52.8% | 0.34 | 14.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SDRL | |
|---|---|---|---|---|
| SDRL | 6.0% | 42.6% | 0.48 | - |
| Sector ETF (XLE) | 10.7% | 29.6% | 0.40 | 59.3% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 34.7% |
| Gold (GLD) | 12.0% | 16.2% | 0.60 | 8.6% |
| Commodities (DBC) | 7.7% | 18.0% | 0.34 | 43.6% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 21.5% |
| Bitcoin (BTCUSD) | 60.0% | 66.1% | 1.00 | 14.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/13/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | -0.1% | ||
| 5/11/2026 | 0.0% | 9.7% | -10.3% |
| 2/25/2026 | -4.3% | -6.2% | 0.5% |
| 11/5/2025 | -6.1% | -2.2% | 2.0% |
| 8/6/2025 | -5.0% | -2.1% | 10.5% |
| 5/12/2025 | 2.5% | 1.2% | 14.8% |
| 2/26/2025 | -5.6% | -14.8% | -7.7% |
| SUMMARY STATS | |||
| # Positive | 2 | 2 | 4 |
| # Negative | 5 | 4 | 2 |
| Median Positive | 1.2% | 5.4% | 6.3% |
| Median Negative | -5.0% | -4.2% | -9.0% |
| Max Positive | 2.5% | 9.7% | 14.8% |
| Max Negative | -6.1% | -14.8% | -10.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | -0.1% | ||
| 5/11/2026 | 0.0% | 9.7% | -10.3% |
| 2/25/2026 | -4.3% | -6.2% | 0.5% |
| 11/5/2025 | -6.1% | -2.2% | 2.0% |
| 8/6/2025 | -5.0% | -2.1% | 10.5% |
| 5/12/2025 | 2.5% | 1.2% | 14.8% |
| 2/26/2025 | -5.6% | -14.8% | -7.7% |
| SUMMARY STATS | |||
| # Positive | 2 | 2 | 4 |
| # Negative | 5 | 4 | 2 |
| Median Positive | 1.2% | 5.4% | 6.3% |
| Median Negative | -5.0% | -4.2% | -9.0% |
| Max Positive | 2.5% | 9.7% | 14.8% |
| Max Negative | -6.1% | -14.8% | -10.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/10/2026 | 10-Q |
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 6-K |
| 06/30/2024 | 08/05/2024 | 6-K |
| 03/31/2024 | 05/14/2024 | 6-K |
| 12/31/2023 | 03/27/2024 | 20-F |
| 09/30/2023 | 11/27/2023 | 6-K |
| 06/30/2023 | 08/15/2023 | 6-K |
| 03/31/2023 | 05/23/2023 | 6-K |
| 12/31/2020 | 04/19/2023 | 20-F |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/10/2026 | 10-Q |
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 6-K |
| 06/30/2024 | 08/05/2024 | 6-K |
| 03/31/2024 | 05/14/2024 | 6-K |
| 12/31/2023 | 03/27/2024 | 20-F |
| 09/30/2023 | 11/27/2023 | 6-K |
| 06/30/2023 | 08/15/2023 | 6-K |
| 03/31/2023 | 05/23/2023 | 6-K |
| 12/31/2020 | 04/19/2023 | 20-F |
Recent Forward Guidance
Updated 8/11/2026Latest: Q2 2026 Earnings Reported 8/10/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total operating revenues | 1.50 Bil | 1.52 Bil | 1.55 Bil | 4.8% | Raised | Guidance: 1.46 Bil for 2026 | |
| 2026 Adjusted EBITDA | 420.00 Mil | 435.00 Mil | 450.00 Mil | 10.1% | Raised | Guidance: 395.00 Mil for 2026 | |
| 2026 Capital Expenditure and Long-Term Maintenance | 200.00 Mil | 220.00 Mil | 240.00 Mil | 0 | Affirmed | Guidance: 220.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/11/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total operating revenues | 1.43 Bil | 1.46 Bil | 1.48 Bil | 2.1% | Raised | Guidance: 1.43 Bil for 2026 | |
| 2026 Adjusted EBITDA | 370.00 Mil | 395.00 Mil | 420.00 Mil | 5.3% | Raised | Guidance: 375.00 Mil for 2026 | |
| 2026 Capital Expenditure and Long-Term Maintenance | 200.00 Mil | 220.00 Mil | 240.00 Mil | 0 | Affirmed | Guidance: 220.00 Mil for 2026 | |
Insider Activity
Updated 6/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Creed, Grant R | Executive Vice President & CFO | Direct | Sell | 6122026 | 44.79 | 34,147 | 1,529,423 | 1,033,022 | Form |
| 2 | Wieggers, Marcel | Senior VP, Operations | Direct | Sell | 6122026 | 44.94 | 13,475 | Form | ||
| 3 | Sauer-Petersen, Torsten | See Remarks | Direct | Sell | 6122026 | 44.68 | 42,625 | Form | ||
| 4 | Strickler, Todd D | SVP & General Counsel | Direct | Sell | 6122026 | 44.69 | 31,409 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Creed, Grant R | Executive Vice President & CFO | Direct | Sell | 6122026 | 44.79 | 34,147 | 1,529,423 | 1,033,022 | Form |
| 2 | Wieggers, Marcel | Senior VP, Operations | Direct | Sell | 6122026 | 44.94 | 13,475 | Form | ||
| 3 | Sauer-Petersen, Torsten | See Remarks | Direct | Sell | 6122026 | 44.68 | 42,625 | Form | ||
| 4 | Strickler, Todd D | SVP & General Counsel | Direct | Sell | 6122026 | 44.69 | 31,409 | Form |
Investor Activity (13F)
Updated Aug 15, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Canyon Capital Advisors LLC | $57.4 Mil | 7.4% | 19 | TRIM -66.3% | 13F |
| Webs Creek Capital Management LP | $40.8 Mil | 7.1% | 14 | Hold | 13F |
| Goehring & Rozencwajg Associates, LLC | $111.5 Mil | 6.0% | 43 | ADD +27.6% | 13F |
| Condire Management, LP | $58.2 Mil | 5.6% | 19 | Hold | 13F |
| Patient Capital Management, LLC | $97.9 Mil | 3.7% | 38 | Hold | 13F |
| Elliott Investment Management L.P. | $214.7 Mil | 1.3% | 19 | Hold | 13F |
| Contrarius Group Holdings Ltd | $14.5 Mil | 0.8% | 47 | ADD +29.1% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Elliott Investment Management L.P. | $214.7 Mil | 1.3% | 19 | Hold | 13F |
| Goehring & Rozencwajg Associates, LLC | $111.5 Mil | 6.0% | 43 | ADD +27.6% | 13F |
| Patient Capital Management, LLC | $97.9 Mil | 3.7% | 38 | Hold | 13F |
| Condire Management, LP | $58.2 Mil | 5.6% | 19 | Hold | 13F |
| Canyon Capital Advisors LLC | $57.4 Mil | 7.4% | 19 | TRIM -66.3% | 13F |
| Webs Creek Capital Management LP | $40.8 Mil | 7.1% | 14 | Hold | 13F |
| Contrarius Group Holdings Ltd | $14.5 Mil | 0.8% | 47 | ADD +29.1% | 13F |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.