TakeoverPE & activists

VALValaris Ltd

Drilling Oil & Gas Wells · $7.3B market cap

0.9×

Less likely than average to be taken private

Top 21% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

3of 15 firedHow well they predict deals →
12 other checks
  • TSR below peersNo
    0 of 5 years
    3+ of last 5 years
  • High CEO pay despite TSRNo
    —
    Median CEO pay ≥ $15M while TSR trails
  • Payouts exceed cash flowNo
    18% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    5% of assets
    Over 40% of assets
  • Shareholder dissentNo
    93% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    —
    Bottom quartile of its SIC industry
  • Quiet on AINo
    2.5 per 10K words · 63rd pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    6.8× EBITDA net debt
    More cash than debt, positive EBITDA
  • Buyout-sizedNo
    $7.3B market cap
    Market cap $500M–$5B
  • Recurring revenueNo
    5 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    1 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Net insider sellingNo
    $0 net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Oct 14, 2026DEFM14ATransocean Ltd.$15.238%
May 19, 2026PREM14ATransocean Ltd.$15.238%
Dec 11, 2018DEFM14AEnsco plc$2.2130.4%
Oct 30, 2018PREM14AEnsco plc$2.2130.4%

Key numbers

Revenue
$12MFY2022: $9MFY2023: $8MFY2024: $10MFY2025: $12M
24% YoY
Operating margin
4008.4%FY2022: 404.3%FY2023: 636.9%FY2024: 3669.8%FY2025: 4008.4%
9.2% YoY
EBITDA
$623MFY2022: $128MFY2023: $155MFY2024: $474MFY2025: $623M
31% YoY
Net debt / EBITDA
6.8×
$4.2B net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue—$9M$8M$10M$12M 24% FY2022: $9MFY2023: $8MFY2024: $10MFY2025: $12M
Operating income—$37M$54M$352M$477M 35% FY2022: $37MFY2023: $54MFY2024: $352MFY2025: $477M
Net income$370M−$4.5B$182M$867M$979M 13% FY2021: $370MFY2022: −$4.5BFY2023: $182MFY2024: $867MFY2025: $979M
Operating cash flow—$127M$268M$355M$546M 54% FY2022: $127MFY2023: $268MFY2024: $355MFY2025: $546M
Capex—$207M$696M$455M$344M 25% FY2022: $207MFY2023: $696MFY2024: $455MFY2025: $344M
Stock-based comp—$17M$27M$28M$25M 9.0% FY2022: $17MFY2023: $27MFY2024: $28MFY2025: $25M
Buybacks—$0$199M$126M$100M 21% FY2022: $0FY2023: $199MFY2024: $126MFY2025: $100M

13D filers

FiledFilerFormStakeIntent
Aug 12, 2026OAK HILL ADVISORS LPSCHEDULE 13D/A4.4%Active
Jun 8, 2026OAK HILL ADVISORS LPSCHEDULE 13D/A5.9%Active
Feb 11, 2026OAK HILL ADVISORS LPSCHEDULE 13D/A6.9%Active
Feb 11, 2026Famatown Finance LtdSCHEDULE 13D/A11.2%Active
Mar 5, 2025Famatown Finance LtdSCHEDULE 13D/A10.6%Passive
Nov 29, 2024Famatown Finance LtdSC 13D/A9.4%Active
Sep 26, 2024Famatown Finance LtdSC 13D/A8.2%Active
Aug 9, 2023OAK HILL ADVISORS LPSC 13D/A6.5%Active
Jun 8, 2023Famatown Finance LtdSC 13D/A7.2%Active
Jan 27, 2023Famatown Finance LtdSC 13D/A7.2%Active

Insider trading

No open-market trades in the last 12 months.

Pay vs performance

YearCEO total compComp actually paidTSR (indexed)Peer TSR
FY2025——213167
FY2024——289168
FY2023——285161
FY2022——15297
FY2021——187155