What is Seadrill's net debt?

Seadrill (SDRL) reported net debt of $302M in Q1 2026.

How has Seadrill's net debt changed year-over-year?

Seadrill's net debt increased by 60.6% year-over-year, from $188M to $302M.

What is the long-term trend for Seadrill's net debt?

Over 2 years (2023 to 2025), Seadrill's net debt has grown at a 52.0% compound annual growth rate (CAGR), from -$116M to $268M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Seadrill SDRL Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

Cabot CorporationCBT

1.1×-0.3×

Travel + LeisureTNL

6×+1.6×

UnifirstUNF

-0.2×-0.1×

HES

Hess MidstreamHESM

3.1×-0.1×

Carter'sCRI

3.6×+0.8×

HarmonicHLIT

0.1×-2.0×

Other financials

Income statement

See full

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

See full

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

See full

Operating cash flow-$22.0M+18.5%

CapEx$13.0M-71.1%

Free cash flow-$35.0M+51.4%

Valuation

See full

Market cap$2.49B+82.8%

Enterprise value$2.79B+80.4%

P/S1.7×+0.7×

Profitability

See full

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

Calculated from Seadrill’s reported figures.

$631.0Mtotal debt−$329.0Mcash and equivalents=$302M

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 net debt?: Seadrill (SDRL) reported net debt of $302M in Q1 2026.
How has Seadrill's net debt changed year-over-year?: Seadrill's net debt increased by 60.6% year-over-year, from $188M to $302M.
What is the long-term trend for Seadrill's net debt?: Over 2 years (2023 to 2025), Seadrill's net debt has grown at a 52.0% compound annual growth rate (CAGR), from -$116M to $268M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.