Filing Flows › Valaris (VAL) › Q4 2025
Valaris (VAL) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 20, 2026
Valaris (VAL) reported revenue of $537M for the fourth quarter 2025 (Q4 2025), -8% from a year earlier and -10% from the quarter before. Operating margin was 7.3%, net earnings $718M (133.5% of revenue).
Valaris, Q4 2025: revenue $537M (-8% year over year), operating margin 7.3%, net earnings $718M, operating cash flow $72.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $537M | -10% | -8% |
| Operating profit | $39.4M | -70% | -67% |
| Net earnings | $718M | +281% | +437% |
| Operating cash flow | $72.2M | -64% | -42% |
What changed
Revenue was $537.4M in Q4 2025, down 8% year over year and down 10% from the previous quarter.
Operating profit was $39.4M, a 7.3% margin (down 13.1 points year over year). Total costs grew 7% against a revenue fall of 8%. The fastest-growing cost line was Other operating costs (+148%). Net earnings were $717.5M, up 437% year over year ($716.8M including minority interests, which bore $700K of losses). The tax line was a benefit of $680.4M on pre-tax earnings of $36.4M.
Operating cash flow was $72.2M (down 42% year over year), 10% of net earnings. Non-cash charges added back $6.8M of share-based compensation. Working capital and other items used $651.4M. Capital expenditures of $106.3M exceeded it, leaving free cash flow of −$34.1M.
Questions
What was Valaris' revenue in the fourth quarter 2025?
Valaris (VAL) reported revenue of $537M for the fourth quarter 2025 (Q4 2025), -8% from a year earlier and -10% from the quarter before.
Was Valaris profitable in the fourth quarter 2025?
Operating profit was $39.4M (7.3% of revenue) and net earnings $718M.
Source: Valaris 10-K on SEC EDGAR.