Valaris (VAL) FY2024 results: revenue $2.4 billion, up 32.4% on the year
Valaris Ltd. (VAL) reported revenue of $2.4 billion for fiscal 2024, the year ended 31 December 2024, up 32.4% on the year before. Net income was $373 million, down 56.9%, and diluted earnings per share $5.12. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2025.
Revenue
$2.4 billion
+32.4% on the year
FY2017FY2024
Operating margin
14.9%
3.0% a year earlier
FY2017FY2024
Net income
$373 million
-56.9% on the year
FY2017FY2024
Diluted EPS
$5.12
-55.5% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
355
268
127
+32.9%
Capital expenditure
455
696
207
-34.6%
Free cash flow
-99.7
-429
-80.0
Free cash flow margin
-4.2%
-24.0%
-5.0%
Cash from investing
-452
-666
-16.7
Cash from financing
-158
286
-6.4
Depreciation
122
101
91.2
+20.8%
Share-based compensation
27.7
27.3
17.4
+1.5%
Buybacks
126
199
0.0
-36.4%
Diluted shares, weighted
73m
75m
76m
-3.1%
Shares outstanding at period end
71m
72m
75m
-1.9%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
2,238
1,988
1,290
+12.6%
Non-controlling interest
5.8
9.4
8.0
-38.3%
Debt
1,083
1,079
542
+0.3%
Operating lease liabilities
56.9
48.9
13.8
+16.4%
Other liabilities
1,036
1,197
1,006
-13.5%
Total liabilities and equity
4,420
4,322
2,860
+2.3%
Fixed assets
1,933
1,634
977
+18.3%
Cash and equivalents
368
620
724
-40.7%
Receivables
571
459
449
+24.4%
Other assets
1,548
1,609
710
-3.8%
Total assets
4,420
4,322
2,860
+2.3%
10-K for the year ended 31 December 2024, filed 20 February 2025: the filing.