| Stage | SDRL | % of rev | RIG | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $449M | 100.00% | $966M | 100.00% | RIG ×2.15 |
| Gross profit | $215M | 47.88% | $358M | 37.06% | SDRL +10.8pp |
| Operating income | $72M | 16.04% | $152M | 15.73% | SDRL +0.3pp |
| Pre-tax income | $41M | 9.13% | $184M | 19.05% | RIG +9.9pp |
| Net income | $29M | 6.46% | $170M | 17.60% | RIG +11.1pp |
| Stage | SDRL | RIG | Gap · A − B |
|---|---|---|---|
| Revenue | $449M100.00% | $966M100.00% | RIG ×2.15 |
| Gross profit | 47.88%$215M | 37.06%$358M | SDRL +10.8pp |
| Operating income | 16.04%$72M | 15.73%$152M | SDRL +0.3pp |
| Pre-tax income | 9.13%$41M | 19.05%$184M | RIG +9.9pp |
| Net income |
| 6.46%$29M |
| 17.60%$170M |
| RIG +11.1pp |
SDRL 10-KFeb 26 '26
“For the year ended December 31, 2025 , our largest custom ers, which individually contributed more than 10% of our total revenues, were Petrobras, Sonadrill, Talos and LLOG and a ccounted for approximately 79% of our total revenues in aggregate.”
RIG 10-KFeb 18 '25
“For the year ended December 31, 2022, Shell, Equinor and Petrobras represented 33 percent, 25 percent and 11 percent, respectively, of our consolidated operating revenues.”