Filing Flows › Seadrill (SDRL) › Q4 2025
Seadrill (SDRL) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Seadrill (SDRL) reported revenue of $362M for the fourth quarter 2025 (Q4 2025), +25% from a year earlier and -0.3% from the quarter before. Operating margin was -0.8%, net loss $10.0M (2.8% of revenue).
Seadrill, Q4 2025: revenue $362M (+25% year over year), operating margin -0.8%, net loss $10.0M, operating cash flow −$40.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $362M | -0.3% | +25% |
| Operating profit | −$3.0M | -112% | — |
| Net earnings | −$10.0M | — | — |
| Operating cash flow | −$40.0M | -243% | — |
What changed
Revenue was $362.0M in Q4 2025, up 25% year over year and roughly flat from the previous quarter.
Operating costs exceeded revenue by $3.0M, an operating margin of -0.8%. Total costs grew 25% against revenue growth of 25%. The fastest-growing cost line was Other operating costs (+30%). The quarter ended with a net loss of $10.0M, narrower than the previous quarter's $11.0M loss. Net interest and other expense of $36.0M was the main reason.
Operating cash flow was −$40.0M. Non-cash charges added back $69.0M of depreciation and amortization and $6.0M of share-based compensation. Working capital and other items used $105.0M. Capital expenditures of $23.0M exceeded it, leaving free cash flow of −$63.0M.
Questions
What was Seadrill's revenue in the fourth quarter 2025?
Seadrill (SDRL) reported revenue of $362M for the fourth quarter 2025 (Q4 2025), +25% from a year earlier and -0.3% from the quarter before.
Was Seadrill profitable in the fourth quarter 2025?
Operating loss was $3.0M (-0.8% of revenue) and net loss $10.0M.
Source: Seadrill 10-K on SEC EDGAR.