Shelf Drilling - Public Comps and Valuation Multiples

Shelf Drilling Overview

About Shelf Drilling

Shelf Drilling Ltd operates as a shallow-water offshore drilling contractor. The company is engaged in the drilling and completion of exploratory and developmental offshore oil and natural gas wells. The business operates in a single segment Contract services. Geographically, it derives a majority of its revenue from Saudi Arabia and also has a presence in Thailand; Nigeria; India, and Other Countries.

Founded

2012

HQ

Employees

3.8K+

Website

shelfdrilling.com

Sectors

Energy Services

Financials

LTM Revenue $9.6B

LTM EBITDA $3.6B

EV

$1.6B

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Shelf Drilling Financials

As of September 2025, Shelf Drilling reported last 12-month revenue of $9.6B and EBITDA of $3.6B.

In the same period, Shelf Drilling generated $4.2B in LTM gross profit and $364M in net income.

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Shelf Drilling P&L

In the most recent fiscal year, Shelf Drilling reported revenue of $97.6M and EBITDA of $31.3M.

Shelf Drilling expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$9.6B	XXX	$97.6M	XXX	XXX	XXX
Gross Profit	$4.2B	XXX	$89.1M	XXX	XXX	XXX
Gross Margin	44%	XXX	91%	XXX	XXX	XXX
EBITDA	$3.6B	XXX	$31.3M	XXX	XXX	XXX
EBITDA Margin	38%	XXX	32%	XXX	XXX	XXX
EBIT	$2.1B	XXX	$17.5M	XXX	XXX	XXX
EBIT Margin	22%	XXX	18%	XXX	XXX	XXX
Net Profit	$364M	XXX	$8.1M	XXX	XXX	XXX
Net Margin	4%	XXX	8%	XXX	XXX	XXX
Net Debt	XXX	XXX	$119M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Shelf Drilling including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $9.6B. EBITDA for the last twelve months was $3.6B. In the most recent fiscal year, Shelf Drilling achieved $97.6M in revenue and $31.3M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$9.6B	Analyst estimates available to subscribers	$97.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$4.2B	Analyst estimates available to subscribers	$89.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	43.6% gross margin	Analyst estimates available to subscribers	91.3% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$3.6B	Analyst estimates available to subscribers	$31.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	37.5% EBITDA margin	Analyst estimates available to subscribers	32.0% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$2.1B	Analyst estimates available to subscribers	$17.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	21.6% EBIT margin	Analyst estimates available to subscribers	17.9% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$364M	Analyst estimates available to subscribers	$8.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	3.8% net profit margin	Analyst estimates available to subscribers	8.3% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$119M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Shelf Drilling

This financial data table provides comprehensive performance metrics for Shelf Drilling, a company based in Norway. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Shelf Drilling generated $9.6B in revenue over the last twelve months.
The company achieved $3.6B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $4.2B.
Net income over the last twelve months reached $364M.

Fiscal Year Performance

In the most recent fiscal year, Shelf Drilling reported $97.6M in total revenue.
Fiscal year EBITDA was $31.3M.
The company maintained a gross profit margin of 91.3% in the most recent fiscal year.
EBITDA margin for the fiscal year was 32.0%.
Net profit margin reached 8.3% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Shelf Drilling. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Shelf Drilling Stock Performance

Shelf Drilling has current market cap of NOK 4.7B (or $465M), and EV of NOK 16.2B (or $1.6B).

Market Cap Evolution

Shelf Drilling Stock Data

As of October 20, 2025, Shelf Drilling's stock price is NOK 18 (or $2).

See Shelf Drilling trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$1.6B	$465M	XXX	XXX	XXX	XXX	$0.15

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Shelf Drilling Valuation Multiples

Shelf Drilling's trades at 16.4x EV/Revenue multiple, and 51.3x EV/EBITDA.

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Shelf Drilling Financial Valuation Multiples

As of October 20, 2025, Shelf Drilling has market cap of $465M and EV of $1.6B.

Equity research analysts estimate Shelf Drilling's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Shelf Drilling has a P/E ratio of 12.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$465M	XXX	$465M	XXX	XXX	XXX
EV (current)	$1.6B	XXX	$1.6B	XXX	XXX	XXX
EV/Revenue	1.7x	XXX	16.4x	XXX	XXX	XXX
EV/EBITDA	4.5x	XXX	51.3x	XXX	XXX	XXX
EV/EBIT	7.8x	XXX	91.9x	XXX	XXX	XXX
EV/Gross Profit	3.8x	XXX	n/a	XXX	XXX	XXX
P/E	12.9x	XXX	57.7x	XXX	XXX	XXX
EV/FCF	29.2x	XXX	-739.3x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Shelf Drilling Margins & Growth Rates

Shelf Drilling's last 12 month revenue growth is -2%

Shelf Drilling's revenue per employee in the last FY averaged $25K, while opex per employee averaged $19K for the same period.

Shelf Drilling's rule of 40 is 26% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Shelf Drilling's rule of X is 33% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Shelf Drilling Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	-2%	XXX	210%	XXX	XXX	XXX
EBITDA Margin	38%	XXX	32%	XXX	XXX	XXX
EBITDA Growth	-2%	XXX	277%	XXX	XXX	XXX
Rule of 40	26%	XXX	30%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	33%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$25K	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$19K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	73%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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