Borr Drilling Limited — Earnings Quality Grade F
BORR · Energy
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 69 days, change +2 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 1.0%, CFFO 225.9%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -69.6% vs revenue 1.0%. Normal
SG&A/Gross Profit = 5.8%, excellent (<30%)
Gross margin 85.5%, change -1.5pp. Stable
Cash Flow Quality
CFFO/NI = 5.60. Profits backed by cash
FCF < 50% of Net Income for 2 years
Accruals ratio = -5.7%. Low accruals
Cash $0.4B covers only 18% of debt $2.2B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 4.8x (>4x). Interest coverage = 1.5x (<2x). Financial stress
Other assets -41.2% vs revenue 1.0%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
No goodwill
Manipulation Score
M-Score = -2.72 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25