Valaris Limited (VAL) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-163.8%

-$62.32

vs $97.69 price

Levered DCF

-$97.66

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.34

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	3.62×	8.54×	5.88×	28.77×	-0.6×	-0.37×	-11.34×	-4.02×
P/B	1.12×	1.42×	2.56×	3.94×	2.51×	0.41×	0.23×	0.32×
P/S	1.5×	1.35×	2.85×	3.17×	2.19×	1.25×	1.06×	1.51×
EV / EBITDA	5.2×	8.18×	39.51×	31.78×	29.51×	-12.34×	180.37×	25.75×
Gross margin	25.0%	25.5%	13.5%	13.7%	13.3%	-3.0%	12.0%	22.6%
Operating margin	20.9%	14.9%	3.0%	2.3%	-72.8%	-303.7%	-32.6%	-13.8%
Net margin	41.5%	15.8%	48.5%	11.0%	-364.7%	-340.2%	-9.6%	-37.5%
Current ratio	1.72×	1.59×	1.71×	2.67×	2.86×	2.75×	1.25×	2.43×
Debt / equity	0.38×	0.52×	0.58×	0.44×	0.52×	0×	0.66×	0.62×
Interest coverage	5.02×	4.15×	0.78×	0.82×	0×	-14.92×	-1.56×	-0.83×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%	0.7%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-2.3%	-2.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	31.0%	16.7%	43.5%	13.7%	-418.2%	-111.0%	-2.1%	-7.9%
Return on invested capital	10.7%	9.3%	1.5%	1.3%	-41.0%	-33.0%	-4.1%	-1.7%
Return on assets	18.5%	8.4%	20.0%	6.2%	-172.7%	-37.7%	-1.2%	-4.6%
Free cash flow yield	5.7%	-3.1%	-8.4%	-1.6%	-4.6%	-19.4%	-23.1%	-18.7%
Earnings yield	27.6%	11.7%	17.0%	3.5%	-166.5%	-273.2%	-9.1%	-24.8%
Enterprise value	$4.1B	$4B	$5.6B	$4.9B	$2.6B	$1.5B	$8.2B	$7.3B
Net debt / EBITDA	0.74×	1.64×	3.76×	-1.02×	-0.6×	2.61×	132.4×	16.67×
Cash conversion cycle (days)	2	20	-1	35	54	140	103	90