Valaris Limited

VAL

Financial Statements

Income Statement (Annual)

Amounts in millions

2024

12/31/2024

Revenue

2,363

Cost of Revenue

1,761

Gross Profit

602

Gross Margin

25.5%

Operating Income

352

Operating Margin

14.9%

Net Income

373

Net Margin

15.8%

EPS (Basic)

$5.18

EPS (Diluted)

$5.12

EBITDA

488

EBITDA Margin

20.6%

2023

12/31/2023

Revenue

1,784

Cost of Revenue

1,544

Gross Profit

241

Gross Margin

13.5%

Operating Income

Operating Margin

3.0%

Net Income

865

Net Margin

48.5%

EPS (Basic)

$11.67

EPS (Diluted)

$11.51

EBITDA

142

EBITDA Margin

8.0%

2022

12/31/2022

Revenue

1,603

Cost of Revenue

1,383

Gross Profit

219

Gross Margin

13.7%

Operating Income

Operating Margin

2.3%

Net Income

177

Net Margin

11.0%

EPS (Basic)

$2.35

EPS (Diluted)

$2.33

EBITDA

155

EBITDA Margin

9.7%

2021

12/31/2021

Revenue

1,232

Cost of Revenue

1,068

Gross Profit

165

Gross Margin

13.3%

Operating Income

-897

Operating Margin

-72.8%

Net Income

-4,494

Net Margin

-364.7%

EPS (Basic)

$-59.91

EPS (Diluted)

$-59.91

EBITDA

EBITDA Margin

7.3%

2020

12/31/2020

Revenue

1,427

Cost of Revenue

1,470

Gross Profit

-43

Gross Margin

-3.0%

Operating Income

-4,335

Operating Margin

-303.7%

Net Income

-4,856

Net Margin

-340.2%

EPS (Basic)

$-64.77

EPS (Diluted)

$-64.77

EBITDA

-119

EBITDA Margin

-8.3%

Income Statement (Annual)

Financial performance (amounts in millions)

Item	2024	2023	2022	2021	2020
Revenue	2,363	1,784	1,603	1,232	1,427
Cost of Revenue	1,761	1,544	1,383	1,068	1,470
Gross Profit	602	241	219	165	-43
Gross Margin	25.5%	13.5%	13.7%	13.3%	-3.0%
Operating Income	352	54	37	-897	-4,335
Operating Margin	14.9%	3.0%	2.3%	-72.8%	-303.7%
Net Income	373	865	177	-4,494	-4,856
Net Margin	15.8%	48.5%	11.0%	-364.7%	-340.2%
EPS (Basic)	$5.18	$11.67	$2.35	$-59.91	$-64.77
EPS (Diluted)	$5.12	$11.51	$2.33	$-59.91	$-64.77
EBITDA	488	142	155	90	-119
EBITDA Margin	20.6%	8.0%	9.7%	7.3%	-8.3%