What is Seadrill's contract liabilities?

Seadrill (SDRL) reported contract liabilities of $43M in Q1 2026.

How has Seadrill's contract liabilities changed year-over-year?

Seadrill's contract liabilities decreased by 37.7% year-over-year, from $69M to $43M.

What does contract liabilities mean?

Revenue collected or billed in advance of performance — deferred revenue under ASC 606 terminology, representing future revenue obligations.

Seadrill SDRL Contract Liabilities

Contract Liabilities at other companies

ValarisVAL

$56M-8.5%

Noble CorporationNE

$98.85M-5.8%

Patterson-UTI EnergyPTEN

$200K-50.0%

Helmerich & PayneHP

$81.57M+52.5%

Weatherford InternationalWFRD

$2M0.0%

Texas Pacific LandTPL

$18.97M-6.6%

Other financials

Income statement

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Revenue$358.0M+6.9%

Operating income$24.0M+33.3%

Net income-$7.0M+50.0%

EPS (diluted)-$0.11+52.2%

Balance sheet

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Cash & equivalents$329.0M-23.5%

Total debt$631.0M+2.1%

Total equity$2.9B-2.0%

Total assets$4.0B-1.7%

Cash flow

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Operating cash flow-$22.0M+18.5%

CapEx$13.0M-71.1%

Free cash flow-$35.0M+51.4%

Valuation

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Market cap$2.49B+82.8%

Enterprise value$2.79B+80.4%

P/S1.7×+0.7×

Profitability

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Operating margin3.8%-22.3pp

Net margin-4.8%-32.3pp

FCF margin-7.5%-1.8pp

Returns & leverage

See full

Return on equity-2.4%-15.2pp

Debt / equity0.2×0.0×

Current ratio1.9×-0.1×

Where this comes from

Reported directly by Seadrill in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityNoncurrent.

The official record: Seadrill’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Seadrill's contract liabilities?: Seadrill (SDRL) reported contract liabilities of $43M in Q1 2026.
How has Seadrill's contract liabilities changed year-over-year?: Seadrill's contract liabilities decreased by 37.7% year-over-year, from $69M to $43M.
What does contract liabilities mean?: Revenue collected or billed in advance of performance — deferred revenue under ASC 606 terminology, representing future revenue obligations.