Sector Alpha Week of 2026-07-28
20-quarter listed-company comparison

Oil & Gas Drilling Stocks

Oil & Gas Drilling: Patterson-UTI Energy, Inc. owns the largest revenue base; Helmerich & Payne, Inc. has the fastest current growth.

The industry itself · before any single company

How has Oil & Gas Drilling moved against S&P 500?

The line below covers 5.2 years. Over the most recent two of them this industry is 24% behind S&P 500. Earnings across its companies fell 74% on average over the last four reported quarters.

ASLEEP · 1y +38.1%~Price down, no fundamental support0 of 10 companies ahead of S&P 500 by 5% or more over three months

RS — · 3/10 >200d (−1) · 0/10 lead (+0) · EPS 4/10↑

200500202620252024202320222021 404349 TRAILING 12-MONTH EPS · 100 AT THE START-770179Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26Sep 2023 · trailing 12-month earnings per share fell 66.8% · 1 reportingDec 2023 · trailing 12-month earnings per share grew 179.0% · 1 reportingMar 2024 · trailing 12-month earnings per share grew 28.2% · 1 reportingJun 2024 · trailing 12-month earnings per share grew 25.2% · 1 reportingSep 2024 · trailing 12-month earnings per share grew 7.2% · 1 reportingDec 2024 · trailing 12-month earnings per share fell 42.0% · 1 reportingMar 2025 · trailing 12-month earnings per share fell 37.1% · 1 reportingJun 2025 · trailing 12-month earnings per share fell 72.3% · 1 reportingSep 2025 · trailing 12-month earnings per share fell 68.9% · 1 reportingDec 2025 · trailing 12-month earnings per share fell 77.4% · 1 reportingMar 2026 · trailing 12-month earnings per share fell 76.2% · 1 reportingNot reported yet — earnings trail price by a quarter or two-76 · Mar 26No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
200500202620252024202320222021 404349 TRAILING 12-MONTH EPS · 100 AT THE START-770179Mar 24Mar 25Mar 26Sep 2023 · trailing 12-month earnings per share fell 66.8% · 1 reportingDec 2023 · trailing 12-month earnings per share grew 179.0% · 1 reportingMar 2024 · trailing 12-month earnings per share grew 28.2% · 1 reportingJun 2024 · trailing 12-month earnings per share grew 25.2% · 1 reportingSep 2024 · trailing 12-month earnings per share grew 7.2% · 1 reportingDec 2024 · trailing 12-month earnings per share fell 42.0% · 1 reportingMar 2025 · trailing 12-month earnings per share fell 37.1% · 1 reportingJun 2025 · trailing 12-month earnings per share fell 72.3% · 1 reportingSep 2025 · trailing 12-month earnings per share fell 68.9% · 1 reportingDec 2025 · trailing 12-month earnings per share fell 77.4% · 1 reportingMar 2026 · trailing 12-month earnings per share fell 76.2% · 1 reportingNot reported yet — earnings trail price by a quarter or two-76No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
Oil & Gas Drilling, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 10 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Oil & Gas Drilling outperforming S&P 500?

Oil & Gas Drilling has outperformed S&P 500 by 32% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 30.8%. 4 of 10 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is broad. Nabors Industries Ltd. is the strongest against the sector itself at +13.7%.

-30.8%Sector vs S&P 500 · 13 weeks
+32.0%Sector vs S&P 500 · 52 weeks
4/10Stocks leading S&P 500
8/10Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Oil & Gas Drilling has outperformed S&P 500 by 32% over 52 weeks and 30.8% over 13 weeks. 4 of 10 covered companies beat the S&P 500 on Mansfield relative strength, while 8 of 10 beat the sector itself. Patterson-UTI Energy, Inc. leads with revenue of $4,663 million, based on 9 of 10 comparable companies through Mar 2026.

Is the Oil & Gas Drilling sector outperforming S&P 500?

Oil & Gas Drilling has outperformed S&P 500 by 32% over 52 weeks and 30.8% over 13 weeks. 4 of 10 covered companies beat the S&P 500 on Mansfield relative strength, while 8 of 10 beat the sector itself.

Which Oil & Gas Drilling company is largest by revenue?

Patterson-UTI Energy, Inc. leads with revenue of $4,663 million, based on 9 of 10 comparable companies through Mar 2026.

Which Oil & Gas Drilling company is growing fastest?

Helmerich & Payne, Inc. has the fastest current revenue growth at 29.7%, across 9 of 10 comparable companies.

Which Oil & Gas Drilling company has the strongest 4-Factor Sector Score?

Nabors Industries Ltd. ranks first at 60.1/100 with 61.7% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Oil & Gas Drilling company reports the most CAPEX?

Borr Drilling Limited reports the largest latest CAPEX at $183 million, with 10 of 10 companies comparable.

Which Oil & Gas Drilling company has the least gross debt?

Seadrill Limited has the lowest comparable gross debt at $614 million. Transocean Ltd. has the highest at $5,274 million.

Which Oil & Gas Drilling company has the lowest comparable PEG?

Noble Corporation plc has the lowest comparable Guarded PEG at 1.47, among 1 of 10 companies that pass the metric’s comparability rules.

How much history does this Oil & Gas Drilling comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies
10
complete canonical membership
Combined market value
$30.5B
Noble Corporation plc
Revenue growing
6/9
positive TTM year-on-year growth
Beating S&P 500
4/10
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Nabors Industries Ltd. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 61.7% evidence confidence.
Patterson-UTI Energy, Inc. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Nabors Industries Ltd. · NBR

60.1/100 · Mixed-positive evidence · 62% evidence

Exact sum: 22.3 + 9.3 + 11.5 + 17 = 60.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

22.3/35Growth & earnings

Revenue 10.2% · PAT — · OPM change 7 pp

71% evidence

9.3/25Capital efficiency

ROCE 1.5% · debt/equity 1.48×

80% evidence

11.5/20Valuation

P/E 6.7× · PEG —

15% evidence

17.0/20Relative strength

RS sector 13.7% · RS bench 6.9% · 1Y 138.9%

70% evidence

2. Seadrill Limited · SDRL

59.9/100 · Mixed-positive evidence · 68% evidence

Exact sum: 20.2 + 12.8 + 8.9 + 18 = 59.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

20.2/35Growth & earnings

Revenue 7.9% · PAT -118.8% · OPM change 1.3 pp

71% evidence

12.8/25Capital efficiency

ROCE 0.7% · debt/equity 0.21×

80% evidence

8.9/20Valuation

P/E 65.7× · PEG —

15% evidence

18.0/20Relative strength

RS sector 8.6% · RS bench 5% · 1Y 54.6%

100% evidence

3. Noble Corporation plc · NE

56.4/100 · Mixed-positive evidence · 86% evidence

Exact sum: 15.7 + 17.6 + 11.1 + 12 = 56.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

15.7/35Growth & earnings

Revenue -3% · PAT -67.8% · OPM change 7.3 pp

95% evidence

17.6/25Capital efficiency

ROCE 3.3% · debt/equity 0.42×

80% evidence

11.1/20Valuation

P/E 34.3× · PEG 1.47

65% evidence

12.0/20Relative strength

RS sector 2% · RS bench -2.5% · 1Y 52.5%

100% evidence

4. Transocean Ltd. · RIG

53.9/100 · Mixed-positive evidence · 65% evidence

Exact sum: 24.5 + 13.1 + 10 + 6.3 = 53.9

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is 0.5% and the one-year return is 77%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

24.5/35Growth & earnings

Revenue 12.9% · PAT — · OPM change 19.4 pp

71% evidence

13.1/25Capital efficiency

ROCE 1.8% · debt/equity 0.64×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

6.3/20Relative strength

RS sector 0.5% · RS bench -4.6% · 1Y 77%

100% evidence

5. Patterson-UTI Energy, Inc. · PTEN

49.2/100 · Mixed-negative evidence · 68% evidence

Exact sum: 12.5 + 9.3 + 10.4 + 17 = 49.2

Decision use: Price leads the evidence: RS versus the benchmark is 5.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

12.5/35Growth & earnings

Revenue -9.4% · PAT — · OPM change -2.6 pp

71% evidence

9.3/25Capital efficiency

ROCE -0.3% · debt/equity 0.4×

80% evidence

10.4/20Valuation

P/E 33.4× · PEG —

15% evidence

17.0/20Relative strength

RS sector 11.9% · RS bench 5.8% · 1Y 65.5%

100% evidence

6. Helmerich & Payne, Inc. · HP

44.4/100 · Mixed-negative evidence · 76% evidence

Exact sum: 11.8 + 6.8 + 10.8 + 15 = 44.4

Decision use: Price leads the evidence: RS versus the benchmark is 1.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

11.8/35Growth & earnings

Revenue 29.7% · PAT -266.2% · OPM change -8.1 pp

95% evidence

6.8/25Capital efficiency

ROCE -0.6% · debt/equity 0.76×

80% evidence

10.8/20Valuation

P/E 11.9× · PEG —

15% evidence

15.0/20Relative strength

RS sector 4.9% · RS bench 1.2% · 1Y 111.4%

100% evidence

7. Valaris Limited · VAL

42.2/100 · Mixed-negative evidence · 68% evidence

Exact sum: 7.9 + 11.9 + 11.1 + 11.3 = 42.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

7.9/35Growth & earnings

Revenue -10% · PAT 100% · OPM change -18.7 pp

71% evidence

11.9/25Capital efficiency

ROCE 0.5% · debt/equity 0.34×

80% evidence

11.1/20Valuation

P/E 6.9× · PEG —

15% evidence

11.3/20Relative strength

RS sector 4.3% · RS bench -1.4% · 1Y 64.4%

100% evidence

8. Precision Drilling Corporation · PDS

37.8/100 · Mixed-negative evidence · 70% evidence

Exact sum: 8.6 + 13.3 + 8.5 + 7.4 = 37.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

8.6/35Growth & earnings

Revenue 0.2% · PAT -112.7% · OPM change -5.1 pp

95% evidence

13.3/25Capital efficiency

ROCE 1.6% · debt/equity 0.45×

80% evidence

8.5/20Valuation

P/E 703.5× · PEG —

15% evidence

7.4/20Relative strength

RS sector 0.4% · RS bench -3.4% · 1Y 44.5%

70% evidence

9. Borr Drilling Limited · BORR

35.5/100 · Mixed-negative evidence · 62% evidence

Exact sum: 12.9 + 9 + 9.6 + 4 = 35.5

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

12.9/35Growth & earnings

Revenue 5.7% · PAT -35.3% · OPM change -9.2 pp

71% evidence

9.0/25Capital efficiency

ROCE 1.4% · debt/equity 1.93×

80% evidence

9.6/20Valuation

P/E 38.5× · PEG —

15% evidence

4.0/20Relative strength

RS sector -9.6% · RS bench -14.3% · 1Y 107.4%

70% evidence

10. Sable Offshore Corp. · SOC

30.3/100 · Thin evidence · provisional · 42% evidence

Exact sum: 16.8 + 4.2 + 9.3 + 0 = 30.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

16.8/35Growth & earnings

Revenue — · PAT — · OPM change —

4% evidence

4.2/25Capital efficiency

ROCE -11.5% · debt/equity 2.27×

68% evidence

9.3/20Valuation

P/E 44.7× · PEG —

15% evidence

0.0/20Relative strength

RS sector -70.9% · RS bench -70.2% · 1Y -86%

100% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Patterson-UTI Energy, Inc. has the highest Revenue among the 10 Oil & Gas Drilling companies compared here, at $4,663 million. Transocean Ltd. is next at $4,140 million. Helmerich & Payne, Inc. has the highest Revenue growth at 29.7%, so level and change sit with different companies. 9 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Patterson-UTI Energy, Inc. is the scale leader at $4,663 million, 12.6% ahead of Transocean Ltd.. Helmerich & Payne, Inc.'s growth is 29.7% from a $4,002 million base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderPatterson-UTI Energy, Inc. · $4,663 million
Gap12.6% versus #2 · Transocean Ltd.
Persistence2/8 recent comparable periods
Coverage9/10 companies · 173 observations

Investor read: Patterson-UTI Energy, Inc. is the scale benchmark; Helmerich & Payne, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Patterson-UTI Energy, Inc.'s growth falls below Helmerich & Payne, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Patterson-UTI Energy, Inc. PTEN$4.7B
2Transocean Ltd. RIG$4.1B
3Helmerich & Payne, Inc. HP$4.0B
4Nabors Industries Ltd. NBR$3.2B
5Noble Corporation plc NE$3.2B
Revenue growthfastest growers
1Helmerich & Payne, Inc. HP30%
2Transocean Ltd. RIG13%
3Nabors Industries Ltd. NBR10%
4Seadrill Limited SDRL7.9%
5Borr Drilling Limited BORR5.7%
Revenue · company comparison
9/10 level · 9/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
Patterson-UTI Energy, Inc. PTEN$1.1B-13%Mar 2026
Transocean Ltd. RIG$1.1B19%Mar 2026
Helmerich & Payne, Inc. HP$932M-8.3%Mar 2026
Noble Corporation plc NE$786M-10%Mar 2026
Nabors Industries Ltd. NBR$784M6.5%Mar 2026
Precision Drilling Corporation PDS$526M6.1%Mar 2026
Valaris Limited VAL$465M-25%Mar 2026
Seadrill Limited SDRL$358M6.9%Mar 2026
Borr Drilling Limited BORR$247M14%Mar 2026
Sable Offshore Corp. SOC$1MMar 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Borr Drilling Limited · BORR

$55M
$73M
$69M
$82M
$105M
$108M
$149M
$172M
$188M
$192M
$221M
$234M
$272M
$242M
$263M
$217M
$268M
$277M
$259M
$247M

Helmerich & Payne, Inc. · HP

$332M
$344M
$410M
$468M
$550M
$631M
$720M
$769M
$724M
$660M
$677M
$688M
$698M
$694M
$677M
$1.0B
$1.0B
$1.0B
$1.0B
$932M

Nabors Industries Ltd. · NBR

$489M
$524M
$544M
$569M
$631M
$694M
$760M
$779M
$767M
$734M
$726M
$734M
$735M
$732M
$730M
$736M
$833M
$818M
$798M
$784M

Noble Corporation plc · NE

$210M
$275M
$306M
$623M
$610M
$639M
$697M
$643M
$637M
$693M
$801M
$927M
$874M
$849M
$798M
$764M
$786M

Patterson-UTI Energy, Inc. · PTEN

$292M
$358M
$466M
$509M
$622M
$728M
$788M
$792M
$759M
$1.0B
$1.6B
$1.5B
$1.3B
$1.4B
$1.2B
$1.3B
$1.2B
$1.2B
$1.2B
$1.1B

Precision Drilling Corporation · PDS

$201M
$254M
$295M
$351M
$326M
$429M
$511M
$559M
$426M
$447M
$507M
$528M
$429M
$477M
$468M
$496M
$407M
$462M
$479M
$526M

Sable Offshore Corp. · SOC

$1M

Seadrill Limited · SDRL

$226M
$278M
$278M
$266M
$414M
$414M
$408M
$367M
$375M
$354M
$289M
$335M
$377M
$363M
$362M
$358M

Transocean Ltd. · RIG

$656M
$626M
$621M
$586M
$692M
$691M
$606M
$649M
$729M
$713M
$741M
$763M
$861M
$948M
$952M
$906M
$988M
$1.0B
$1.0B
$1.1B

Valaris Limited · VAL

$327M
$306M
$318M
$413M
$437M
$434M
$430M
$415M
$455M
$484M
$525M
$610M
$643M
$584M
$621M
$615M
$596M
$537M
$465M

Revenue growth · reported quarter history

Borr Drilling Limited · BORR

91%
48%
116%
110%
79%
78%
48%
36%
45%
26%
19%
-7.3%
-1.5%
14%
-1.5%
14%

Helmerich & Payne, Inc. · HP

66%
83%
76%
64%
32%
4.6%
-6.0%
-11%
-3.6%
5.2%
0.0%
48%
49%
46%
50%
-8.3%

Nabors Industries Ltd. · NBR

29%
32%
40%
37%
22%
5.8%
-4.5%
-5.8%
-4.2%
-0.3%
0.6%
0.3%
13%
12%
9.3%
6.5%

Noble Corporation plc · NE

190%
132%
128%
3.2%
4.4%
8.5%
15%
44%
37%
23%
-0.4%
-18%
-10%

Patterson-UTI Energy, Inc. · PTEN

113%
103%
69%
56%
22%
39%
101%
91%
78%
34%
-27%
-15%
-9.6%
-13%
-1.0%
-13%

Precision Drilling Corporation · PDS

62%
69%
73%
59%
31%
4.2%
-0.8%
-5.6%
0.7%
6.7%
-7.7%
-6.1%
-5.1%
-3.1%
2.4%
6.1%

Seadrill Limited · SDRL

-18%
20%
20%
38%
-9.4%
-14%
-29%
-8.7%
0.5%
2.5%
25%
6.9%

Transocean Ltd. · RIG

5.5%
10%
-2.4%
11%
5.4%
3.2%
22%
18%
18%
33%
28%
19%
15%
8.4%
9.6%
19%

Valaris Limited · VAL

3.6%
34%
42%
35%
0.5%
4.1%
12%
22%
47%
41%
21%
18%
0.8%
-7.3%
-8.1%
-25%
02 · compare level, then change

Operating Economics & Margin Trend

Noble Corporation plc has the highest OPM among the 10 Oil & Gas Drilling companies compared here, at 28.7%. Transocean Ltd. is next at 26.5%. Transocean Ltd. has the highest Margin change at +19.4 percentage points, so level and change sit with different companies. 9 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Noble Corporation plc leads opm at 28.7%; Transocean Ltd. leads margin change at +19.4 percentage points.

LeaderNoble Corporation plc · 28.7%
Gap8.3% versus #2 · Transocean Ltd.
Persistence3/8 recent comparable periods
Coverage9/10 companies · 172 observations

Investor read: Noble Corporation plc sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Noble Corporation plc NE29%
2Transocean Ltd. RIG27%
3Borr Drilling Limited BORR19%
4Nabors Industries Ltd. NBR7.9%
5Precision Drilling Corporation PDS7.5%
Margin changefastest expanders
1Transocean Ltd. RIG+19.4 pp
2Noble Corporation plc NE+7.3 pp
3Nabors Industries Ltd. NBR+7.0 pp
4Seadrill Limited SDRL+1.3 pp
5Patterson-UTI Energy, Inc. PTEN−2.6 pp
Operating margin · company comparison
9/10 level · 9/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyOPMMargin changeReported
Noble Corporation plc NE29%+7.3 ppMar 2026
Transocean Ltd. RIG27%+19.4 ppMar 2026
Borr Drilling Limited BORR19%−9.2 ppMar 2026
Nabors Industries Ltd. NBR7.9%+7.0 ppMar 2026
Precision Drilling Corporation PDS7.5%−5.1 ppMar 2026
Seadrill Limited SDRL6.7%+1.3 ppMar 2026
Valaris Limited VAL4.3%−18.7 ppMar 2026
Patterson-UTI Energy, Inc. PTEN-1.3%−2.6 ppMar 2026
Helmerich & Payne, Inc. HP-4.0%−8.1 ppMar 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Borr Drilling Limited · BORR

-47%
-12%
-19%
-15%
-117%
3.6%
20%
27%
32%
33%
37%
36%
38%
35%
38%
28%
36%
35%
26%
19%

Helmerich & Payne, Inc. · HP

-23%
-28%
-10%
-4.8%
6.1%
12%
20%
23%
21%
15%
18%
16%
16%
16%
13%
4.1%
-12%
-0.1%
-5.9%
-4.0%

Nabors Industries Ltd. · NBR

-25%
-14%
-8.5%
-20%
-2.9%
6.8%
0.4%
15%
10%
1.8%
8.4%
6.4%
6.2%
2.9%
3.7%
0.9%
8.1%
6.3%
9.0%
7.9%

Noble Corporation plc · NE

-17%
17%
17%
26%
18%
17%
29%
25%
17%
30%
14%
18%
21%
16%
6.3%
5.6%
29%

Patterson-UTI Energy, Inc. · PTEN

-38%
-25%
-77%
-3.7%
5.9%
11%
15%
16%
14%
1.0%
7.1%
5.8%
3.4%
-73%
-2.7%
1.3%
-2.4%
-2.4%
0.0%
-1.3%

Precision Drilling Corporation · PDS

-20%
-9.5%
-2.5%
-9.0%
-1.7%
12%
3.9%
24%
16%
9.3%
14%
12%
9.6%
14%
8.2%
13%
8.2%
8.3%
7.9%
7.5%

Seadrill Limited · SDRL

-56%
17%
17%
19%
26%
28%
13%
22%
77%
13%
-1.0%
5.4%
1.6%
7.2%
-0.8%
6.7%

Transocean Ltd. · RIG

-0.3%
0.0%
-6.9%
-8.5%
4.0%
7.7%
-10%
-24%
-5.8%
-7.7%
-9.6%
-0.4%
-6.9%
-51%
14%
7.1%
-98%
-163%
23%
27%

Valaris Limited · VAL

0.9%
-6.6%
-16%
-3.8%
14%
91%
2.0%
-2.4%
3.6%
91%
5.6%
18%
15%
20%
23%
27%
22%
7.3%
4.3%

Margin change · reported quarter history

Borr Drilling Limited · BORR

−69.4 pp
+15.5 pp
+38.7 pp
+41.7 pp
+148.7 pp
+29.7 pp
+16.7 pp
+9.6 pp
+6.5 pp
+1.3 pp
+1.8 pp
−8.5 pp
−2.4 pp
+0.8 pp
−12.4 pp
−9.2 pp

Helmerich & Payne, Inc. · HP

+29.4 pp
+40.4 pp
+30.4 pp
+27.6 pp
+14.4 pp
+3.0 pp
−1.8 pp
−6.6 pp
−4.2 pp
+0.3 pp
−4.8 pp
−12.1 pp
−28.6 pp
−15.6 pp
−19.3 pp
−8.1 pp

Nabors Industries Ltd. · NBR

+22.4 pp
+20.3 pp
+8.9 pp
+35.4 pp
+13.0 pp
−5.0 pp
+8.0 pp
−8.9 pp
−3.9 pp
+1.1 pp
−4.7 pp
−5.5 pp
+1.9 pp
+3.4 pp
+5.3 pp
+7.0 pp

Noble Corporation plc · NE

+34.1 pp
−0.2 pp
+11.9 pp
−1.9 pp
−0.7 pp
+13.2 pp
−14.4 pp
−6.1 pp
+4.5 pp
−14.4 pp
−8.1 pp
−12.8 pp
+7.3 pp

Patterson-UTI Energy, Inc. · PTEN

+43.4 pp
+35.7 pp
+92.1 pp
+19.6 pp
+7.9 pp
−9.5 pp
−7.7 pp
−10.1 pp
−10.4 pp
−74.0 pp
−9.8 pp
−4.5 pp
−5.8 pp
+70.6 pp
+2.7 pp
−2.6 pp

Precision Drilling Corporation · PDS

+18.5 pp
+21.2 pp
+6.4 pp
+32.6 pp
+17.7 pp
−2.4 pp
+10.4 pp
−11.3 pp
−6.4 pp
+4.8 pp
−6.1 pp
+0.3 pp
−1.4 pp
−5.8 pp
−0.3 pp
−5.1 pp

Seadrill Limited · SDRL

−24.0 pp
+691.7 pp
+691.7 pp
+2.6 pp
+50.5 pp
−15.0 pp
−13.7 pp
−16.4 pp
−75.2 pp
−6.1 pp
+0.2 pp
+1.3 pp

Transocean Ltd. · RIG

+4.3 pp
+7.7 pp
−3.3 pp
−15.7 pp
−9.8 pp
−15.4 pp
+0.6 pp
+23.8 pp
−1.1 pp
−43.5 pp
+23.3 pp
+7.5 pp
−90.7 pp
−111.9 pp
+9.3 pp
+19.4 pp

Valaris Limited · VAL

+260.3 pp
+13.2 pp
+97.6 pp
+17.7 pp
+1.4 pp
−10.5 pp
0.0 pp
+3.6 pp
+20.2 pp
+11.2 pp
−70.6 pp
+17.4 pp
+8.9 pp
+7.1 pp
−13.1 pp
−18.7 pp
03 · compare level, then change

Profit Scale & Acceleration

Valaris Limited has the highest Net profit among the 10 Oil & Gas Drilling companies compared here, at $1,000 million. Nabors Industries Ltd. is next at $321 million. Noble Corporation plc has the highest Profit growth at -67.8%, so level and change sit with different companies. 10 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Valaris Limited leads with $1,000 million of TTM profit, 211.5% above Nabors Industries Ltd.. Noble Corporation plc shows -67.8% growth from a $157 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderValaris Limited · $1,000 million
Gap211.5% versus #2 · Nabors Industries Ltd.
Persistence4/8 recent comparable periods
Coverage10/10 companies · 192 observations

Investor read: Valaris Limited sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Valaris Limited VAL$1.0B
2Nabors Industries Ltd. NBR$321M
3Noble Corporation plc NE$157M
4Borr Drilling Limited BORR$33M
5Precision Drilling Corporation PDS$-14M
Profit growthfastest growers
1Noble Corporation plc NE-68%
2Precision Drilling Corporation PDS-113%
3Helmerich & Payne, Inc. HP-266%
Net profit · company comparison
10/10 level · 3/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyNet profitProfit growthReported
Noble Corporation plc NE$121M12%Mar 2026
Transocean Ltd. RIG$71M257%Mar 2026
Precision Drilling Corporation PDS$18M-49%Mar 2026
Nabors Industries Ltd. NBR$4M-93%Mar 2026
Seadrill Limited SDRL$-7M-110%Mar 2026
Valaris Limited VAL$-18M447%Mar 2026
Patterson-UTI Energy, Inc. PTEN$-24M-2,500%Mar 2026
Borr Drilling Limited BORR$-29M-104%Mar 2026
Helmerich & Payne, Inc. HP$-56M-1,967%Mar 2026
Sable Offshore Corp. SOC$-197M-9,100%Mar 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Borr Drilling Limited · BORR

$-60M
$-33M
$-46M
$-51M
$-165M
$-55M
$-21M
$-7M
$1M
$0M
$28M
$14M
$32M
$10M
$26M
$-17M
$35M
$28M
$-1M
$-29M

Helmerich & Payne, Inc. · HP

$-112M
$-79M
$-103M
$-10M
$35M
$46M
$97M
$164M
$95M
$78M
$95M
$85M
$89M
$75M
$55M
$3M
$-162M
$-56M
$-95M
$-56M

Nabors Industries Ltd. · NBR

$-190M
$-116M
$-109M
$-175M
$-70M
$-4M
$-58M
$61M
$16M
$-31M
$4M
$-9M
$-13M
$-33M
$-33M
$57M
$-2M
$302M
$17M
$4M

Noble Corporation plc · NE

$-37M
$37M
$34M
$135M
$108M
$66M
$158M
$145M
$95M
$195M
$61M
$124M
$108M
$43M
$-21M
$14M
$121M

Patterson-UTI Energy, Inc. · PTEN

$-103M
$-83M
$-362M
$-29M
$22M
$61M
$100M
$100M
$85M
$0M
$62M
$52M
$12M
$-978M
$-51M
$1M
$-49M
$-36M
$-9M
$-24M

Precision Drilling Corporation · PDS

$-76M
$-38M
$-27M
$-44M
$-25M
$31M
$3M
$96M
$27M
$20M
$147M
$37M
$21M
$39M
$15M
$35M
$16M
$-6M
$-42M
$18M

Sable Offshore Corp. · SOC

$-5M
$10M
$-1M
$6M
$3M
$1M
$-11M
$2M
$-22M
$-10M
$-12M
$-180M
$-165M
$-256M
$-16M
$-110M
$-128M
$-110M
$-62M
$-197M

Seadrill Limited · SDRL

$-303M
$9M
$9M
$43M
$94M
$90M
$73M
$60M
$253M
$32M
$101M
$-14M
$-42M
$-11M
$-10M
$-7M

Transocean Ltd. · RIG

$-103M
$-130M
$-260M
$-175M
$-68M
$-28M
$-350M
$-465M
$-165M
$-220M
$-104M
$98M
$-123M
$-494M
$7M
$-79M
$-938M
$-1.9B
$25M
$71M

Valaris Limited · VAL

$-53M
$33M
$-40M
$113M
$78M
$31M
$49M
$-27M
$17M
$829M
$26M
$151M
$63M
$131M
$-39M
$114M
$187M
$717M
$-18M

Profit growth · reported quarter history

Borr Drilling Limited · BORR

3,100%
-7.1%
-221%
9.4%
180%
-104%

Helmerich & Payne, Inc. · HP

171%
70%
-2.1%
-48%
-6.3%
-3.9%
-42%
-96%
-282%
-175%
-273%
-1,967%

Nabors Industries Ltd. · NBR

-115%
-181%
-925%
-93%

Noble Corporation plc · NE

78%
365%
7.4%
-12%
195%
-61%
-14%
14%
-78%
-134%
-89%
12%

Patterson-UTI Energy, Inc. · PTEN

286%
-100%
-38%
-48%
-86%
-182%
-98%
-508%
-2,500%

Precision Drilling Corporation · PDS

-35%
4,800%
-61%
-22%
95%
-90%
-5.4%
-24%
-115%
-380%
-49%

Sable Offshore Corp. · SOC

-90%
-67%
-833%
-1,100%
-9,100%

Seadrill Limited · SDRL

40%
169%
-64%
38%
-123%
-117%
-134%
-110%

Transocean Ltd. · RIG

-181%
257%

Valaris Limited · VAL

-6.1%
-124%
-78%
2,574%
-47%
271%
-84%
-250%
-25%
197%
447%
04 · compare level, then change

Capacity Spending & Returns On It

Borr Drilling Limited has the highest CAPEX among the 10 Oil & Gas Drilling companies compared here, at $183 million. Nabors Industries Ltd. is next at $165 million. Sable Offshore Corp. has the highest CAPEX intensity at 2100%, so level and change sit with different companies. 10 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Borr Drilling Limited reports $183 million of CAPEX; Sable Offshore Corp. has the highest covered intensity at 2100%. Coverage is only 10 of 10 companies and 175 reported observations, so this is partial evidence—not a complete sector rank.

LeaderBorr Drilling Limited · $183 million
Gap10.9% versus #2 · Nabors Industries Ltd.
Persistence8/8 recent comparable periods
Coverage10/10 companies · 175 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
CAPEXlargest spenders
1Borr Drilling Limited BORR$183M
2Nabors Industries Ltd. NBR$165M
3Patterson-UTI Energy, Inc. PTEN$117M
4Noble Corporation plc NE$104M
5Valaris Limited VAL$101M
CAPEX intensityhighest reinvestment intensity
1Sable Offshore Corp. SOC2,100%
2Borr Drilling Limited BORR74%
3Valaris Limited VAL22%
4Nabors Industries Ltd. NBR21%
5Noble Corporation plc NE13%
Capital expenditure · company comparison
10/10 level · 10/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyCAPEXCAPEX intensityReported
Borr Drilling Limited BORR$183M74%Mar 2026
Nabors Industries Ltd. NBR$165M21%Mar 2026
Patterson-UTI Energy, Inc. PTEN$117M11%Mar 2026
Noble Corporation plc NE$104M13%Mar 2026
Valaris Limited VAL$101M22%Mar 2026
Precision Drilling Corporation PDS$65M12%Mar 2026
Helmerich & Payne, Inc. HP$63M6.8%Mar 2026
Transocean Ltd. RIG$28M2.6%Mar 2026
Sable Offshore Corp. SOC$21M2,100%Mar 2026
Seadrill Limited SDRL$13M3.6%Mar 2026
Full 20-quarter history · every available company

CAPEX · reported quarter history

Borr Drilling Limited · BORR

$5M
$6M
$5M
$7M
$16M
$20M
$40M
$29M
$26M
$24M
$36M
$19M
$13M
$187M
$190M
$25M
$13M
$34M
$183M

Helmerich & Payne, Inc. · HP

$18M
$33M
$48M
$67M
$78M
$79M
$96M
$85M
$100M
$114M
$136M
$118M
$134M
$106M
$106M
$159M
$97M
$64M
$68M
$63M

Nabors Industries Ltd. · NBR

$77M
$62M
$54M
$84M
$77M
$111M
$101M
$119M
$145M
$143M
$134M
$105M
$127M
$128M
$208M
$165M
$179M
$210M
$162M
$165M

Noble Corporation plc · NE

$37M
$47M
$32M
$30M
$65M
$63M
$107M
$99M
$141M
$154M
$154M
$127M
$141M
$114M
$117M
$138M
$152M
$104M

Patterson-UTI Energy, Inc. · PTEN

$38M
$34M
$75M
$95M
$96M
$126M
$119M
$118M
$132M
$160M
$205M
$227M
$131M
$181M
$140M
$162M
$144M
$144M
$139M
$117M

Precision Drilling Corporation · PDS

$20M
$20M
$28M
$36M
$39M
$51M
$57M
$51M
$44M
$52M
$79M
$56M
$38M
$64M
$59M
$60M
$53M
$69M
$81M
$65M

Sable Offshore Corp. · SOC

$14M
$54M
$63M
$130M
$130M
$95M
$21M

Seadrill Limited · SDRL

$7M
$11M
$14M
$28M
$48M
$23M
$43M
$53M
$38M
$45M
$23M
$19M
$23M
$13M

Transocean Ltd. · RIG

$41M
$37M
$71M
$106M
$115M
$87M
$409M
$81M
$76M
$50M
$220M
$83M
$84M
$58M
$29M
$60M
$24M
$11M
$28M
$28M

Valaris Limited · VAL

$39M
$61M
$54M
$54M
$56M
$71M
$106M
$463M
$151M
$110M
$82M
$112M
$100M
$67M
$70M
$106M
$101M

CAPEX intensity · reported quarter history

Borr Drilling Limited · BORR

9.1%
8.2%
7.2%
8.5%
15%
19%
27%
17%
14%
13%
16%
8.1%
4.8%
77%
72%
12%
4.9%
12%
74%

Helmerich & Payne, Inc. · HP

5.4%
9.6%
12%
14%
14%
13%
13%
11%
14%
17%
20%
17%
19%
15%
16%
16%
9.3%
6.3%
6.7%
6.8%

Nabors Industries Ltd. · NBR

16%
12%
9.9%
15%
12%
16%
13%
15%
19%
20%
19%
14%
17%
18%
29%
22%
22%
26%
20%
21%

Noble Corporation plc · NE

22%
12%
9.8%
10%
10%
17%
14%
22%
24%
22%
16%
15%
13%
14%
17%
20%
13%

Patterson-UTI Energy, Inc. · PTEN

13%
9.5%
16%
19%
15%
17%
15%
15%
17%
16%
13%
15%
9.7%
13%
12%
13%
12%
12%
12%
11%

Precision Drilling Corporation · PDS

10%
7.9%
9.5%
10%
12%
12%
11%
9.1%
10%
12%
16%
11%
8.9%
13%
13%
12%
13%
15%
17%
12%

Sable Offshore Corp. · SOC

2,100%

Seadrill Limited · SDRL

3.1%
4.1%
3.4%
6.8%
12%
6.3%
12%
15%
13%
13%
6.1%
5.2%
6.4%
3.6%

Transocean Ltd. · RIG

6.3%
5.9%
11%
18%
17%
13%
68%
13%
10%
7.0%
30%
11%
9.8%
6.1%
3.0%
6.6%
2.4%
1.1%
2.7%
2.6%

Valaris Limited · VAL

12%
15%
12%
12%
13%
17%
23%
96%
29%
18%
13%
19%
16%
11%
12%
20%
22%
Annual capital allocation · 6-year view
10/10 capacity base · 10/10 OCF · 10/10 CAPEX · 10/10 FCF

Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.

Full annual capacity base, operating cash flow, CAPEX and free cash flow history

Capacity base · net fixed assets + CWIP · fiscal-year history

Borr Drilling Limited · BORR

$2.9B
$2.6B
$2.6B
$2.8B
$2.7B

Sable Offshore Corp. · SOC

$689M
$1.2B
$1.6B

Seadrill Limited · SDRL

$1.8B
$1.4B
$2.9B
$3.0B
$3.0B

Transocean Ltd. · RIG

$17.1B
$17.5B
$16.9B
$15.8B
$12.6B

Valaris Limited · VAL

$891M
$977M
$1.6B
$1.9B
$2.1B

Operating cash flow · fiscal-year history

Sable Offshore Corp. · SOC

$-2M
$-2M
$-70M
$-185M
$-352M

Seadrill Limited · SDRL

$-420M
$-154M
$287M
$88M
$-28M

Transocean Ltd. · RIG

$575M
$448M
$164M
$447M
$749M

Valaris Limited · VAL

$-252M
$127M
$268M
$355M
$546M

CAPEX · reported cash flow · fiscal-year history

Sable Offshore Corp. · SOC

$72M
$418M

Seadrill Limited · SDRL

$27M
$29M
$101M
$157M
$110M

Transocean Ltd. · RIG

$208M
$717M
$427M
$254M
$123M

Valaris Limited · VAL

$94M
$207M
$696M
$455M
$344M

Free cash flow · fiscal-year history

Sable Offshore Corp. · SOC

$-2M
$-2M
$-70M
$-258M
$-769M

Seadrill Limited · SDRL

$-447M
$-183M
$186M
$-69M
$-138M

Transocean Ltd. · RIG

$367M
$-269M
$-263M
$193M
$626M

Valaris Limited · VAL

$-346M
$-80M
$-429M
$-100M
$203M
05 · compare level, then change

Debt Load & Balance-Sheet Headroom

Seadrill Limited has the lowest Gross debt among the 10 Oil & Gas Drilling companies compared here, at $614 million. Precision Drilling Corporation is next at $732 million. The same company also holds the lowest Net debt, at $310 million. 10 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Seadrill Limited has the clearest covered balance-sheet capacity with $310 million and gross debt of $614 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderSeadrill Limited · $614 million
Gap16.1% versus #2 · Precision Drilling Corporation
Persistence1/8 recent comparable periods
Coverage10/10 companies · 192 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Seadrill Limited SDRL$614M
2Precision Drilling Corporation PDS$732M
3Sable Offshore Corp. SOC$956M
4Valaris Limited VAL$1.1B
5Patterson-UTI Energy, Inc. PTEN$1.3B
Net debtlowest net debt
1Seadrill Limited SDRL$310M
2Valaris Limited VAL$509M
3Precision Drilling Corporation PDS$691M
4Sable Offshore Corp. SOC$904M
5Patterson-UTI Energy, Inc. PTEN$932M
Debt and balance-sheet capacity · company comparison
10/10 level · 10/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGross debtNet debtReported
Transocean Ltd. RIG$5.3B$4.9BMar 2026
Borr Drilling Limited BORR$2.3B$2.1BMar 2026
Nabors Industries Ltd. NBR$2.1B$1.6BMar 2026
Helmerich & Payne, Inc. HP$2.0B$1.8BMar 2026
Noble Corporation plc NE$1.9B$1.3BMar 2026
Patterson-UTI Energy, Inc. PTEN$1.3B$932MMar 2026
Valaris Limited VAL$1.1B$509MMar 2026
Sable Offshore Corp. SOC$956M$904MMar 2026
Precision Drilling Corporation PDS$732M$691MMar 2026
Seadrill Limited SDRL$614M$310MMar 2026
Full 20-quarter history · every available company

Gross debt · reported quarter history

Borr Drilling Limited · BORR

$1.9B
$1.9B
$1.9B
$1.9B
$1.9B
$1.9B
$1.6B
$1.8B
$1.6B
$1.6B
$1.7B
$1.9B
$1.8B
$2.0B
$2.1B
$2.1B
$2.1B
$2.1B
$2.2B
$2.3B

Helmerich & Payne, Inc. · HP

$481M
$1.0B
$542M
$542M
$542M
$543M
$543M
$543M
$545M
$545M
$545M
$545M
$546M
$1.8B
$1.8B
$2.2B
$2.2B
$2.0B
$2.0B
$2.0B

Nabors Industries Ltd. · NBR

$2.8B
$3.1B
$3.3B
$2.6B
$2.6B
$2.6B
$2.5B
$2.6B
$2.5B
$2.5B
$3.1B
$2.5B
$2.5B
$2.5B
$2.5B
$2.7B
$2.7B
$2.4B
$2.5B
$2.1B

Noble Corporation plc · NE

$1.2B
$216M
$735M
$673M
$521M
$585M
$586M
$586M
$587M
$622M
$2.0B
$2.0B
$2.0B
$2.0B
$2.0B
$2.0B
$1.9B

Patterson-UTI Energy, Inc. · PTEN

$925M
$924M
$877M
$877M
$905M
$879M
$856M
$846M
$844M
$1.3B
$1.3B
$1.3B
$1.3B
$1.3B
$1.3B
$1.3B
$1.3B
$1.3B
$1.3B
$1.3B

Precision Drilling Corporation · PDS

$1.2B
$1.2B
$1.2B
$1.2B
$1.2B
$1.3B
$1.2B
$1.2B
$1.0B
$1.0B
$992M
$1.0B
$920M
$861M
$888M
$869M
$750M
$754M
$744M
$732M

Sable Offshore Corp. · SOC

$0M
$0M
$1M
$1M
$1M
$1M
$2M
$2M
$2M
$4M
$0M
$771M
$790M
$814M
$834M
$855M
$876M
$897M
$922M
$956M

Seadrill Limited · SDRL

$546M
$0M
$0M
$355M
$355M
$610M
$608M
$609M
$609M
$610M
$610M
$611M
$612M
$612M
$613M
$614M

Transocean Ltd. · RIG

$7.5B
$7.3B
$7.2B
$7.0B
$7.2B
$7.2B
$7.3B
$7.6B
$7.4B
$7.4B
$7.4B
$7.3B
$7.3B
$7.0B
$6.9B
$6.6B
$6.6B
$6.2B
$5.7B
$5.3B

Valaris Limited · VAL

$545M
$545M
$546M
$546M
$542M
$542M
$543M
$682M
$1.1B
$1.1B
$1.1B
$1.1B
$1.1B
$1.1B
$1.1B
$1.1B
$1.1B
$1.1B
$1.1B

Net debt · reported quarter history

Borr Drilling Limited · BORR

$1.9B
$1.8B
$1.9B
$1.9B
$1.9B
$1.7B
$1.5B
$1.7B
$1.6B
$1.5B
$1.6B
$1.6B
$1.7B
$1.8B
$2.0B
$1.9B
$2.0B
$1.8B
$1.8B
$2.1B

Helmerich & Payne, Inc. · HP

$-77M
$-91M
$101M
$191M
$209M
$194M
$195M
$298M
$252M
$194M
$247M
$268M
$256M
$1.5B
$1.3B
$2.0B
$2.0B
$1.8B
$1.8B
$1.8B

Nabors Industries Ltd. · NBR

$2.4B
$2.3B
$2.3B
$2.2B
$2.2B
$2.2B
$2.1B
$2.1B
$2.1B
$2.1B
$2.1B
$2.1B
$2.0B
$2.1B
$2.1B
$2.3B
$2.3B
$1.9B
$1.6B
$1.6B

Noble Corporation plc · NE

$948M
$22M
$554M
$197M
$335M
$330M
$341M
$225M
$375M
$459M
$1.6B
$1.7B
$1.6B
$1.6B
$1.5B
$1.5B
$1.3B

Patterson-UTI Energy, Inc. · PTEN

$708M
$733M
$759M
$829M
$885M
$836M
$718M
$689M
$694M
$1.3B
$1.2B
$1.2B
$1.2B
$1.2B
$1.1B
$1.1B
$1.1B
$1.1B
$859M
$932M

Precision Drilling Corporation · PDS

$1.1B
$1.2B
$1.1B
$1.2B
$1.1B
$1.3B
$1.1B
$1.2B
$1.0B
$986M
$938M
$983M
$872M
$837M
$814M
$841M
$703M
$716M
$658M
$691M

Sable Offshore Corp. · SOC

$0M
$0M
$1M
$1M
$1M
$1M
$2M
$2M
$2M
$3M
$562M
$678M
$526M
$534M
$666M
$629M
$855M
$824M
$904M

Seadrill Limited · SDRL

$118M
$-293M
$-293M
$-57M
$-57M
$-227M
$-89M
$25M
$-226M
$44M
$132M
$207M
$219M
$210M
$274M
$310M

Transocean Ltd. · RIG

$6.5B
$6.4B
$6.2B
$6.1B
$6.5B
$6.2B
$6.7B
$6.9B
$6.6B
$6.8B
$6.7B
$6.8B
$6.8B
$6.5B
$6.3B
$6.4B
$6.2B
$5.4B
$5.0B
$4.9B

Valaris Limited · VAL

$-64M
$-64M
$-32M
$-8M
$-84M
$-182M
$-280M
$-105M
$38M
$458M
$586M
$683M
$703M
$715M
$643M
$581M
$422M
$487M
$509M
06 · compare level, then change

Return On Capital Employed

Noble Corporation plc has the highest ROCE among the 10 Oil & Gas Drilling companies compared here, at 3.3%. Transocean Ltd. is next at 1.8%. Transocean Ltd. has the highest ROCE change at +1.4 percentage points, so level and change sit with different companies. 10 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Noble Corporation plc leads ROCE at 3.3%, 1.5 percentage points above Transocean Ltd.. Transocean Ltd. has the strongest latest improvement at +1.4 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderNoble Corporation plc · 3.3%
Gap83.3% versus #2 · Transocean Ltd.
Persistence2/8 recent comparable periods
Coverage10/10 companies · 188 observations

Investor read: Noble Corporation plc sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Noble Corporation plc NE3.3%
2Transocean Ltd. RIG1.8%
3Precision Drilling Corporation PDS1.6%
4Nabors Industries Ltd. NBR1.5%
5Borr Drilling Limited BORR1.4%
ROCE changefastest improvers
1Transocean Ltd. RIG+1.4 pp
2Nabors Industries Ltd. NBR+1.3 pp
3Seadrill Limited SDRL+0.2 pp
4Noble Corporation plc NE+0.1 pp
5Borr Drilling Limited BORR−0.6 pp
Return on capital · company comparison
10/10 level · 10/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyROCEROCE changeReported
Noble Corporation plc NE3.3%+0.1 ppMar 2026
Transocean Ltd. RIG1.8%+1.4 ppMar 2026
Precision Drilling Corporation PDS1.6%−0.9 ppMar 2026
Nabors Industries Ltd. NBR1.5%+1.3 ppMar 2026
Borr Drilling Limited BORR1.4%−0.6 ppMar 2026
Seadrill Limited SDRL0.7%+0.2 ppMar 2026
Valaris Limited VAL0.5%−3.4 ppMar 2026
Patterson-UTI Energy, Inc. PTEN-0.3%−0.6 ppMar 2026
Helmerich & Payne, Inc. HP-0.6%−1.4 ppMar 2026
Sable Offshore Corp. SOC-12%−7.0 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Borr Drilling Limited · BORR

-0.3%
-0.4%
-0.4%
-5.9%
0.2%
1.1%
1.8%
3.2%
3.3%
3.2%
3.1%
3.8%
3.0%
3.5%
2.0%
3.3%
3.2%
2.1%
1.4%

Helmerich & Payne, Inc. · HP

-2.2%
-1.0%
-0.5%
0.8%
1.9%
3.6%
4.4%
3.8%
2.5%
3.1%
2.8%
2.9%
2.3%
1.9%
0.8%
-2.5%
0.0%
-1.1%
-0.6%

Nabors Industries Ltd. · NBR

-1.4%
-0.9%
-2.5%
-0.4%
1.1%
0.1%
2.8%
1.9%
0.3%
1.5%
1.2%
1.2%
0.5%
0.7%
0.2%
1.6%
1.3%
1.9%
1.5%

Noble Corporation plc · NE

0.0%
0.0%
1.7%
5.1%
4.6%
4.7%
5.3%
3.3%
2.3%
4.4%
1.9%
2.9%
3.2%
2.3%
0.7%
0.6%
3.3%

Patterson-UTI Energy, Inc. · PTEN

-3.0%
-13%
-0.7%
1.4%
2.9%
4.6%
4.9%
4.0%
0.2%
2.5%
2.0%
1.0%
-17%
-0.6%
0.3%
-0.5%
-0.6%
0.0%
-0.3%

Precision Drilling Corporation · PDS

-0.9%
-0.3%
-1.2%
-0.2%
2.0%
0.8%
5.2%
2.8%
1.6%
2.8%
2.4%
1.6%
2.6%
1.5%
2.5%
1.3%
1.5%
1.5%
1.6%

Sable Offshore Corp. · SOC

-0.1%
-0.3%
-0.1%
-0.1%
-0.4%
-1.4%
-0.6%
-12%
-0.6%
-2.4%
-25%
-9.9%
-7.7%
-4.7%
-4.5%
-14%
-12%
-9.2%
-12%

Seadrill Limited · SDRL

164%
164%
0.0%
0.0%
0.0%
0.0%
2.8%
5.9%
5.9%
2.7%
2.1%
7.6%
1.2%
-0.1%
0.5%
0.2%
0.7%
-0.1%
0.7%

Transocean Ltd. · RIG

0.0%
-0.2%
-0.3%
0.1%
0.3%
-0.3%
-0.8%
-0.2%
-0.3%
-0.4%
0.0%
-0.3%
-2.6%
0.7%
0.4%
-5.5%
-11%
1.5%
1.8%

Valaris Limited · VAL

0.0%
-0.3%
-0.7%
-1.4%
2.7%
17%
0.4%
-0.4%
0.7%
15%
1.0%
3.5%
3.0%
3.3%
3.9%
4.4%
3.5%
0.9%
0.5%

ROCE change · reported quarter history

Borr Drilling Limited · BORR

+0.5 pp
+1.5 pp
+2.2 pp
+9.1 pp
+3.1 pp
+2.1 pp
+1.3 pp
+0.6 pp
−0.3 pp
+0.3 pp
−1.1 pp
−0.5 pp
+0.2 pp
−1.4 pp
−0.6 pp

Helmerich & Payne, Inc. · HP

+4.1 pp
+4.6 pp
+4.9 pp
+3.0 pp
+0.6 pp
−0.5 pp
−1.6 pp
−0.9 pp
−0.2 pp
−1.2 pp
−2.0 pp
−5.4 pp
−2.3 pp
−3.0 pp
−1.4 pp

Nabors Industries Ltd. · NBR

+2.5 pp
+1.0 pp
+5.3 pp
+2.3 pp
−0.8 pp
+1.4 pp
−1.6 pp
−0.7 pp
+0.2 pp
−0.8 pp
−1.0 pp
+0.4 pp
+0.8 pp
+1.2 pp
+1.3 pp

Noble Corporation plc · NE

+1.7 pp
+5.1 pp
+3.6 pp
−1.8 pp
−2.3 pp
−0.3 pp
−3.4 pp
−0.4 pp
+0.9 pp
−2.1 pp
−1.2 pp
−2.3 pp
+0.1 pp

Patterson-UTI Energy, Inc. · PTEN

+5.9 pp
+17.6 pp
+5.6 pp
+2.6 pp
−2.7 pp
−2.1 pp
−2.9 pp
−3.0 pp
−17.4 pp
−3.1 pp
−1.7 pp
−1.5 pp
+16.6 pp
+0.6 pp
−0.6 pp

Precision Drilling Corporation · PDS

+2.9 pp
+1.1 pp
+6.4 pp
+3.0 pp
−0.4 pp
+2.0 pp
−2.8 pp
−1.2 pp
+1.0 pp
−1.3 pp
+0.1 pp
−0.3 pp
−1.1 pp
0.0 pp
−0.9 pp

Sable Offshore Corp. · SOC

−0.3 pp
−1.1 pp
−0.5 pp
−12.2 pp
−0.2 pp
−1.0 pp
−24.1 pp
+2.4 pp
−7.1 pp
−2.3 pp
+20.2 pp
−3.7 pp
−4.5 pp
−4.5 pp
−7.0 pp

Seadrill Limited · SDRL

−163.8 pp
−163.8 pp
+2.8 pp
+5.9 pp
+5.9 pp
+2.7 pp
−0.7 pp
+1.7 pp
−4.7 pp
−2.8 pp
−1.6 pp
−7.4 pp
−0.5 pp
0.0 pp
+0.2 pp

Transocean Ltd. · RIG

+0.3 pp
−0.1 pp
−0.5 pp
−0.3 pp
−0.6 pp
−0.1 pp
+0.8 pp
−0.1 pp
−2.3 pp
+1.1 pp
+0.4 pp
−5.2 pp
−7.9 pp
+0.8 pp
+1.4 pp

Valaris Limited · VAL

+2.7 pp
+17.7 pp
+1.1 pp
+1.0 pp
−2.0 pp
−2.6 pp
+0.6 pp
+3.9 pp
+2.3 pp
−11.5 pp
+2.9 pp
+0.9 pp
+0.5 pp
−2.4 pp
−3.4 pp
07 · compare level, then change

Valuation Against Growth & Quality

Noble Corporation plc has the lowest Guarded PEG among the 10 Oil & Gas Drilling companies compared here, at 1.47×. Nabors Industries Ltd. has the lowest P/E at 6.74×, so level and change sit with different companies. 1 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Noble Corporation plc has the lowest comparable Guarded PEG at 1.47×. Only 1 of 10 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderNoble Corporation plc · 1.47×
GapNot enough peers
Persistence0/8 recent comparable periods
Coverage1/10 companies · 5 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Noble Corporation plc NE1.5
P/Elowest P/E
1Nabors Industries Ltd. NBR6.7
2Valaris Limited VAL6.9
3Helmerich & Payne, Inc. HP11.9
4Patterson-UTI Energy, Inc. PTEN33.4
5Noble Corporation plc NE34.3
Valuation · company comparison
1/10 level · 9/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGuarded PEGP/EReported
Noble Corporation plc NE1.534.3Mar 2026
Helmerich & Payne, Inc. HP0.811.9Mar 2026
Patterson-UTI Energy, Inc. PTEN0.333.4Mar 2026
Seadrill Limited SDRL0.165.7Mar 2026
Valaris Limited VAL6.9Mar 2026
Borr Drilling Limited BORR38.5Mar 2026
Nabors Industries Ltd. NBR6.7Mar 2026
Precision Drilling Corporation PDS703.5Mar 2026
Sable Offshore Corp. SOC44.7Mar 2026
Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Helmerich & Payne, Inc. · HP

0.8

Noble Corporation plc · NE

0.5
1.5

Patterson-UTI Energy, Inc. · PTEN

0.3

Seadrill Limited · SDRL

0.1

P/E · reported quarter history

Borr Drilling Limited · BORR

81.8
40.3
22.2
16.6
12.2
11.5
8.7
10.0
23.7
38.5

Helmerich & Payne, Inc. · HP

739.4
34.4
11.8
9.3
10.1
8.6
12.1
10.5
8.9
10.6
11.9

Nabors Industries Ltd. · NBR

4.2
3.1
6.7

Noble Corporation plc · NE

16.4
20.3
14.6
21.8
15.7
16.4
15.8
14.5
15.0
10.8
10.5
10.6
7.9
13.8
20.2
20.9
34.3

Patterson-UTI Energy, Inc. · PTEN

24.1
9.0
7.5
10.5
12.3
17.6
33.4

Precision Drilling Corporation · PDS

11.5
6.8
10.2
3.7
5.9
6.3
5.2
11.3
9.5
9.7
20.5
703.5

Sable Offshore Corp. · SOC

69.4
34.8
19.2
44.7

Seadrill Limited · SDRL

11.5
12.5
8.1
6.9
6.1
4.7
23.4
65.7

Valaris Limited · VAL

69.3
21.1
29.0
18.9
39.8
97.4
6.0
6.6
5.4
3.8
8.6
9.2
11.0
8.7
3.6
6.9
08 · compare level, then change

Enterprise Value & Book Value

Nabors Industries Ltd. has the lowest EV/EBITDA among the 10 Oil & Gas Drilling companies compared here, at 4.18×. Precision Drilling Corporation is next at 5.18×. Transocean Ltd. has the lowest P/BV at 0.9×, so level and change sit with different companies. 9 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Nabors Industries Ltd. leads ev/ebitda at 4.18×; Transocean Ltd. leads p/bv at 0.9×.

LeaderNabors Industries Ltd. · 4.18×
Gap19.3% versus #2 · Precision Drilling Corporation
Persistence0/8 recent comparable periods
Coverage9/10 companies · 146 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1Nabors Industries Ltd. NBR4.2
2Precision Drilling Corporation PDS5.2
3Patterson-UTI Energy, Inc. PTEN5.9
4Noble Corporation plc NE8.8
5Borr Drilling Limited BORR9.0
P/BVlowest P/BV
1Transocean Ltd. RIG0.9
2Seadrill Limited SDRL1.0
3Precision Drilling Corporation PDS1.1
4Patterson-UTI Energy, Inc. PTEN1.3
5Helmerich & Payne, Inc. HP1.4
Enterprise and book valuation · company comparison
9/10 level · 10/10 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyEV/EBITDAP/BVReported
Transocean Ltd. RIG24.10.9Mar 2026
Valaris Limited VAL14.02.2Mar 2026
Helmerich & Payne, Inc. HP10.91.4Mar 2026
Seadrill Limited SDRL10.21.0Mar 2026
Borr Drilling Limited BORR9.01.5Mar 2026
Noble Corporation plc NE8.81.7Mar 2026
Patterson-UTI Energy, Inc. PTEN5.91.3Mar 2026
Precision Drilling Corporation PDS5.21.1Mar 2026
Nabors Industries Ltd. NBR4.22.2Mar 2026
Sable Offshore Corp. SOC5.9Mar 2026
Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Borr Drilling Limited · BORR

178.8
69.1
39.2
182.7
49.7
13.4
10.5
9.4
8.2
7.1
6.7
5.9
5.1
5.0
5.2
6.4
9.0

Helmerich & Payne, Inc. · HP

73.7
27.6
17.1
9.1
8.5
4.8
4.1
4.6
4.1
5.1
4.6
5.3
5.3
5.9
5.6
6.4
8.5
10.9

Nabors Industries Ltd. · NBR

12.7
10.0
13.8
10.2
7.1
7.6
5.1
4.0
5.0
4.2
4.7
4.6
4.6
4.8
5.0
5.0
4.4
3.8
4.2

Noble Corporation plc · NE

10.1
25.9
14.0
10.3
9.0
8.6
8.0
8.2
6.8
7.7
6.5
4.6
5.1
5.3
6.0
8.8

Patterson-UTI Energy, Inc. · PTEN

16.2
15.0
17.8
12.0
6.7
6.2
3.7
3.5
7.6
5.2
5.0
4.2
9.3
15.1
25.1
38.3
3.4
3.5
5.9

Precision Drilling Corporation · PDS

10.0
8.9
14.1
10.8
7.8
8.2
4.5
3.4
4.0
3.2
4.2
4.3
3.7
3.9
3.4
3.1
3.6
4.6
5.2

Seadrill Limited · SDRL

7.1
7.3
4.7
4.1
4.8
3.3
7.0
8.0
8.5
10.2

Transocean Ltd. · RIG

10.2
9.4
10.9
10.6
9.2
12.1
16.4
19.3
26.5
25.0
19.4
20.0
75.3
29.5
24.1

Valaris Limited · VAL

24.3
2.9
2.9
3.6
6.4
4.0
2.2
8.1
7.3
5.4
5.4
6.4
14.0

P/BV · reported quarter history

Borr Drilling Limited · BORR

0.3
0.3
0.6
1.0
0.8
1.3
2.1
2.0
1.9
1.9
1.8
1.6
1.4
1.0
0.5
0.4
0.7
1.0
1.5

Helmerich & Payne, Inc. · HP

1.0
0.9
1.7
1.7
1.4
1.9
1.3
1.3
1.5
1.3
1.5
1.3
1.0
1.1
0.9
0.6
0.8
1.1
1.4

Nabors Industries Ltd. · NBR

1.1
1.1
2.6
2.8
4.0
2.9
2.2
3.4
2.4
2.9
2.7
3.2
4.0
1.3
1.0
1.3
2.2

Noble Corporation plc · NE

0.7
1.0
1.0
1.4
1.5
1.5
1.9
1.7
1.8
1.6
1.2
1.1
0.8
0.9
1.0
1.0
1.7

Patterson-UTI Energy, Inc. · PTEN

1.0
1.1
2.1
2.2
1.6
2.2
1.5
1.5
1.2
0.9
1.0
0.9
0.8
0.9
0.9
0.7
0.6
0.7
1.3

Precision Drilling Corporation · PDS

0.5
0.5
1.1
1.0
0.8
1.1
0.7
0.7
0.9
0.6
0.8
0.8
0.7
0.7
0.5
0.5
0.6
0.8
1.1

Sable Offshore Corp. · SOC

-28.1
-27.0
-54.2
-94.5
-77.1
-19.7
-7.9
-10.4
-2.4
0.2
2.6
8.0
11.1
5.3
8.1
4.9
5.0
2.5
5.9

Seadrill Limited · SDRL

0.7
1.1
1.1
1.2
1.3
1.2
0.9
0.9
0.5
0.6
0.7
0.8
1.0

Transocean Ltd. · RIG

0.2
0.2
0.3
0.2
0.2
0.3
0.5
0.5
0.6
0.5
0.5
0.4
0.4
0.3
0.3
0.3
0.4
0.6
0.9

Valaris Limited · VAL

2.4
2.5
3.8
2.8
3.0
3.9
3.7
3.7
4.6
2.5
2.7
2.5
1.9
1.4
1.3
1.3
1.4
1.1
2.2
09 · let price answer last

Market action

Nabors Industries Ltd. has the strongest one-year price move in Oil & Gas Drilling at +138.9%. It also leads on Mansfield relative strength against the S&P 500 at +6.9%. 4 of 10 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Oil & Gas Drilling comparison names 5 specific ways its own evidence can mislead, all listed below. All 10 companies here report on comparable dates, so no rank carries a stale marker. 1 of the 8 ranked sections has fewer than three usable current readings. A high growth rate can still be a low-base artefact.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • Thin comparisons: Valuation have fewer than three usable current readings.
10 · the complete set

Which companies are included?

All 10 companies in the canonical Oil & Gas Drilling membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

CompanyMarket valuePricePriced toLatest fundamentals
Noble Corporation plc NE$6.3B$39.22026-07-28Mar 2026
Transocean Ltd. RIG$5.6B$5.02026-07-28Mar 2026
Valaris Limited VAL$5.2B$74.52026-07-28Mar 2026
Patterson-UTI Energy, Inc. PTEN19/26 WEEKS$3.5B$9.22026-07-28Mar 2026
Helmerich & Payne, Inc. HP$3.3B$33.12026-07-28Mar 2026
Seadrill Limited SDRL$2.6B$43.02026-07-28Mar 2026
Borr Drilling Limited BORR$1.2B$3.92026-07-28Mar 2026
Nabors Industries Ltd. NBR20/26 WEEKS$1.1B$75.62026-07-28Mar 2026
Precision Drilling Corporation PDS$1.0B$78.32026-07-28Mar 2026
Sable Offshore Corp. SOC$794M$4.12026-07-28Mar 2026
Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 10 Oil & Gas Drilling companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Mar 2026 · up to 20 quarters per company
Market dataThrough 2026-07-28 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Questions investors ask · short, speakable answers

Oil & Gas Drilling company comparison FAQs

These 18 answers restate the Oil & Gas Drilling comparison above in question form. Every one is computed from the same 10 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.

Which Oil & Gas Drilling company is the biggest?

Patterson-UTI Energy, Inc. is the largest, with trailing-twelve-month revenue of $4,663 million, ahead of Transocean Ltd. at $4,140 million. That covers 9 of 10 companies with comparable reporting through Mar 2026.

Which Oil & Gas Drilling company is growing fastest?

Helmerich & Payne, Inc. has the fastest revenue growth at 29.7% year on year, across 9 of 10 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Oil & Gas Drilling company has the best profit margins?

Noble Corporation plc has the highest operating margin at 28.7%, from 9 of 10 comparable companies. Transocean Ltd. shows the biggest recent improvement, at +19.4 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Oil & Gas Drilling company makes the most profit?

Valaris Limited earns the most, at $1,000 million of trailing-twelve-month net profit, from 10 of 10 comparable companies. Noble Corporation plc has the fastest profit growth at -67.8%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Oil & Gas Drilling company earns the highest return on capital?

Noble Corporation plc leads on return on capital employed at 3.3%, across 10 of 10 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Oil & Gas Drilling stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Noble Corporation plc screens cheapest at 1.47×. Only 1 of 10 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Oil & Gas Drilling company has the strongest balance sheet?

Seadrill Limited carries the lowest comparable gross debt at $614 million, from 10 of 10 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Oil & Gas Drilling company is investing most in new capacity?

Borr Drilling Limited reports the largest capital spending at $183 million, across 10 of 10 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

Is the Oil & Gas Drilling sector beating the market?

Oil & Gas Drilling has outperformed S&P 500 by 32% over the last 52 weeks and 30.8% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 4 of 10 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Oil & Gas Drilling stock has the strongest price momentum?

Nabors Industries Ltd. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Oil & Gas Drilling company scores highest for research priority?

Nabors Industries Ltd. scores 60.1 out of 100 with 61.7% evidence confidence, from 22.3 points on growth and earnings, 9.3 on capital efficiency, 11.5 on valuation and 17 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Oil & Gas Drilling companies does this comparison cover, and over what period?

It compares 10 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Oil & Gas Drilling sector?

The 10 Oil & Gas Drilling companies on this page carry $30,465 million of combined market value. Noble Corporation plc is the largest at $6,254 million, about 21% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

What is the Oil & Gas Drilling sector's P/E ratio?

The median price-to-earnings ratio across the 10 Oil & Gas Drilling companies on this page is 34.3×, measured on the 9 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

How is the Oil & Gas Drilling sector performing?

4 of the 10 covered Oil & Gas Drilling companies are beating S&P 500 on Mansfield relative strength. The sector itself is 32% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

How many Oil & Gas Drilling stocks are listed in the US?

This comparison covers 10 listed Oil & Gas Drilling companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Mar 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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