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Seadrill SDRL Management Contract Expense

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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$2.36B+82.8%

Profitability

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Operating margin3.8%-22.3pp
Net margin-4.8%-32.3pp
FCF margin-7.5%-1.8pp

Returns & leverage

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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 sdrl:ManagementContractExpense.

The official record: Seadrill’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Seadrill's management contract expense?
Seadrill (SDRL) reported management contract expense of $58M in Q4 2025.
How has Seadrill's management contract expense changed year-over-year?
Seadrill's management contract expense increased by 32.6% year-over-year, from $43.75M to $58M.
What is the long-term trend for Seadrill's management contract expense?
Over 2 years (2023 to 2025), Seadrill's management contract expense has grown at a 15.5% compound annual growth rate (CAGR), from $174M to $232M.
What does management contract expense mean?
This captures the direct costs incurred in fulfilling management service contracts, including personnel, technical support, and operational oversight expenses. Monitoring this metric is critical for assessing the profitability of the company's service-based business model. It helps investors understand the efficiency with which the company manages third-party assets relative to the revenue generated.