Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
/
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Odfjell Drilling Ltd. is a leading international offshore drilling contractor specializing in owning and operating advanced semi-submersible rigs designed for harsh environments. The company provides contract drilling services to the oil and gas industry, focusing on challenging regions such as the North Sea, Barents Sea, West of Shetland, Namibia, and deepwater areas off South Africa. Operating through Own Fleet and External Fleet segments, it manages a modern fleet of eight 6th-generation rigs—five owned and three under management—with an average age of 10.5 years, alongside offering management services including operational oversight, regulatory compliance, marketing, and contract negotiations. Founded in 1973 with maritime roots to 1914, Odfjell Drilling Ltd. employs over 1,600 people and emphasizes safety, quality, health, security, environment (QHSSE), and sustainability, including goals like zero-emission drilling. Listed on the Oslo Stock Exchange since 2013, it reorganized in 2022 to concentrate on core drilling after divesting well services and engineering segments, maintaining a strong track record of high utilization and earnings resilience. Headquartered in Aberdeen, UK, as a subsidiary of Odfjell Partners Holding Ltd., it plays a vital role in the offshore drilling sector by delivering reliable operations for major producers amid tight rig supply in key markets like the Norwegian Continental Shelf.
£0.85
+£0.02 (+2.05%)
EOD Jul 3, 2026
The business is unprofitable at the operating level (-22.90% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 6.9%, steady but not accelerating. Free cash flow declined 239% despite revenue growth, conversion is weakening.
Free cash flow declined 239% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$216M. The business is consuming cash, not generating it.
1.3x earnings. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$546M
▲ +6.9% YoY
Net Income (TTM)
$210M
▲ +158.1% YoY
Op. Margin
-22.00%
▲ +7.0pp YoY
ROIC
-4.52%
▲ +1.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$202M
▼ -238.7% YoY
Op. Cash Flow (TTM)
$279M
▼ -3.5% YoY
Net Debt
$970M
Cash & Equiv.
$91M
3Y CAGR: +9.2%
Continue Research
At a P/E of 1.3, Odfjell Drilling (0QHX.XLON)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Odfjell Drilling scores 46/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 67.9%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Odfjell Drilling scores 46 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a -22.0% operating margin and a -4.5% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Odfjell Drilling pays a regular dividend of about $0.77 per share per year (typically in quarterly installments), a yield of roughly 67.9% at the current price. That is a payout ratio of about 88.1% of earnings, so the dividend is stretched at this level. Odfjell Drilling has grown the dividend at roughly 146.8% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For 0QHX.XLON's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. you should weigh 0QHX.XLON's valuation and scores 46/100 on quality (mixed). It also yields about 67.9%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.