Valaris (VAL) FY2022 results: revenue $1.6 billion, up 30.0% on the year
Valaris Ltd. (VAL) reported revenue of $1.6 billion for fiscal 2022, the year ended 31 December 2022, up 30.0% on the year before. Net income was $176 million, and diluted earnings per share $2.33. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2023.
Revenue
$1.6 billion
+30.0% on the year
FY2016FY2022
Operating margin
2.3%
-73.2% a year earlier
FY2016FY2022
Net income
$176 million
FY2016FY2022
Diluted EPS
$2.33
FY2016FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
127
-66.0
-252
Capital expenditure
207
58.9
93.8
+251.4%
Free cash flow
-80.0
-125
-346
Free cash flow margin
-5.0%
-10.1%
-24.2%
Cash from investing
-16.7
-3.7
-42.0
Cash from financing
-6.4
389
522
Depreciation
91.2
226
541
-59.6%
Share-based compensation
17.4
9.1
21.4
+91.2%
Buybacks
0.0
0.0
n/a
Dividends paid
n/a
0.0
0.0
Diluted shares, weighted
76m
200m
199m
-62.1%
Shares outstanding at period end
75m
n/a
n/a
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
1,290
1,075
4,375
+20.0%
Non-controlling interest
8.0
2.7
-4.3
+196.3%
Debt
542
545
0.0
-0.5%
Operating lease liabilities
13.8
12.5
21.6
+10.4%
Other liabilities
1,006
968
8,481
+4.0%
Total liabilities and equity
2,860
2,603
12,873
+9.9%
Fixed assets
977
891
10,960
+9.7%
Intangible assets
n/a
n/a
2.4
Investments
n/a
0.0
n/a
Cash and equivalents
724
609
326
+19.0%
Receivables
449
444
449
+1.1%
Inventory
n/a
0.0
279
Other assets
710
659
856
+7.7%
Total assets
2,860
2,603
12,873
+9.9%
10-K for the year ended 31 December 2022, filed 21 February 2023: the filing.