BORR vs. TDW

Last updated Apr 2, 2026

Compare and contrast key facts about Borr Drilling Ltd (BORR) and Tidewater Inc. (TDW).

Performance

BORR vs. TDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Borr Drilling Ltd (BORR) and Tidewater Inc. (TDW). The values are adjusted to include any dividend payments, if applicable.

BORR vs. TDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BORR Borr Drilling Ltd	42.93%	4.15%	-44.49%	48.09%	141.26%	26.50%	-91.00%	-26.12%	-54.21%
TDW Tidewater Inc.	65.20%	-7.68%	-24.13%	95.69%	244.07%	23.96%	-55.14%	0.78%	-39.15%

Fundamentals

Market Cap BORR : $1.68B TDW : $4.14B
EPS BORR : $0.16 TDW : $6.73
PE Ratio BORR : 35.06 TDW : 12.39
PEG Ratio BORR : 0.32 TDW : 0.52
PS Ratio BORR : 1.65 TDW : 3.06
PB Ratio BORR : 1.37 TDW : 3.03
Total Revenue (TTM) BORR : $1.02B TDW : $1.35B
Gross Profit (TTM) BORR : $604.20M TDW : $305.59M
EBITDA (TTM) BORR : $458.00M TDW : $478.57M

Returns By Period

In the year-to-date period, BORR achieves a 42.93% return, which is significantly lower than TDW's 65.20% return.

BORR

• 1D: -0.17%
• 1M: -6.04%
• YTD: 42.93%
• 6M: 105.71%
• 1Y: 151.53%
• 3Y*: -7.08%
• 5Y*: 23.70%
• 10Y*: —

TDW

• 1D: -0.13%
• 1M: 4.47%
• YTD: 65.20%
• 6M: 52.26%
• 1Y: 94.23%
• 3Y*: 23.70%
• 5Y*: 45.04%
• 10Y*: -8.39%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

BORR vs. TDW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BORR

BORR Risk / Return Rank: 90
BORR Sharpe Ratio Rank: 91
BORR Sortino Ratio Rank: 87
BORR Omega Ratio Rank: 84
BORR Calmar Ratio Rank: 94
BORR Martin Ratio Rank: 92

TDW

TDW Risk / Return Rank: 85
TDW Sharpe Ratio Rank: 85
TDW Sortino Ratio Rank: 84
TDW Omega Ratio Rank: 80
TDW Calmar Ratio Rank: 89
TDW Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BORR vs. TDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Borr Drilling Ltd (BORR) and Tidewater Inc. (TDW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BORR	TDW	Difference
Sharpe ratio Return per unit of total volatility	2.18	1.58	+0.59
Sortino ratio Return per unit of downside risk	2.64	2.37	+0.27
Omega ratio Gain probability vs. loss probability	1.33	1.30	+0.03
Calmar ratio Return relative to maximum drawdown	5.49	3.82	+1.67
Martin ratio Return relative to average drawdown	13.34	8.07	+5.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BORR vs. TDW - Sharpe Ratio Comparison

The current BORR Sharpe Ratio is 2.18, which is higher than the TDW Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of BORR and TDW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BORR	TDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	1.58	+0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.84	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.22	-0.01	-0.21

Correlation

The correlation between BORR and TDW is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BORR vs. TDW - Dividend Comparison

Neither BORR nor TDW has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BORR Borr Drilling Ltd	0.00%	0.50%	7.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TDW Tidewater Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.12%	0.00%	0.00%	0.04%	0.00%	14.37%

Drawdowns

BORR vs. TDW - Drawdown Comparison

The maximum BORR drawdown since its inception was -99.07%, roughly equal to the maximum TDW drawdown of -99.80%. Use the drawdown chart below to compare losses from any high point for BORR and TDW.

Drawdown Indicators

	BORR	TDW	Difference
Max Drawdown Largest peak-to-trough decline	-99.07%	-99.80%	+0.73%
Max Drawdown (1Y) Largest decline over 1 year	-29.69%	-25.49%	-4.20%
Max Drawdown (5Y) Largest decline over 5 years	-80.90%	-70.35%	-10.55%
Max Drawdown (10Y) Largest decline over 10 years	—	-98.55%	—
Current Drawdown Current decline from peak	-88.63%	-95.96%	+7.33%
Average Drawdown Average peak-to-trough decline	-88.83%	-48.75%	-40.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.22%	12.07%	+0.15%

Volatility

BORR vs. TDW - Volatility Comparison

Borr Drilling Ltd (BORR) has a higher volatility of 17.75% compared to Tidewater Inc. (TDW) at 12.99%. This indicates that BORR's price experiences larger fluctuations and is considered to be riskier than TDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BORR	TDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.75%	12.99%	+4.76%
Volatility (6M) Calculated over the trailing 6-month period	41.56%	35.32%	+6.24%
Volatility (1Y) Calculated over the trailing 1-year period	70.20%	59.85%	+10.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.10%	53.77%	+18.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	120.06%	68.67%	+51.39%

Financials

BORR vs. TDW - Profitability Comparison

The chart below illustrates the profitability comparison between Borr Drilling Ltd and Tidewater Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BORR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Borr Drilling Ltd reported a gross profit of 81.50M and revenue of 259.40M. Therefore, the gross margin over that period was 31.4%.

TDW - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Tidewater Inc. reported a gross profit of 0.00 and revenue of 336.80M. Therefore, the gross margin over that period was 0.0%.

BORR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Borr Drilling Ltd reported an operating income of 67.30M and revenue of 259.40M, resulting in an operating margin of 25.9%.

TDW - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Tidewater Inc. reported an operating income of 64.56M and revenue of 336.80M, resulting in an operating margin of 19.2%.

BORR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Borr Drilling Ltd reported a net income of -1.00M and revenue of 259.40M, resulting in a net margin of -0.4%.

TDW - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Tidewater Inc. reported a net income of 219.88M and revenue of 336.80M, resulting in a net margin of 65.3%.