Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.73, read 2026-10-23
Ethical does not pass the values gate
Price4.09 USD
Fair value2.60
RatingAVOID
Our investment reviews on this name
2026-10-11Read Accumulation4.26-4.0% to today Markdown gives way to Accumulation
2026-10-02Read Markdown4.26-4.0% to today ✓Markup gives way to Markdown with volume flow in agreement
2026-08-23Read Markup4.40-7.0% to today Distribution gives way to Markup after a 9% slide in 7 weeks
2026-07-02Read Distribution4.81-15.0% to today ✓First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Borr Drilling Limited holds its Markdown at $4.09. Consolidating, no directional conviction, held for 48 days.
As held on the ledger · 2026-10-27
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 48 days
Price at the screen
$4.09
Valuation
N/A trailing · 116.23 forward price to earnings
Values screen
FAIL
Beta
1.07
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
111.49%
Below 33%
Interest-bearing debt is 111.5% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
19.68%
Below 33%
Cash held in interest-bearing accounts and securities is 19.7% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
0.63%
Below 5%
Only 0.6% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Borr Drilling's business is in a permissible area, but its interest-bearing debt is about 111% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when BORR's ethical verdict changes
Today BORR does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads AVOID: it trades above our $2.60 fair value estimate, weak competitive moat.
Fair value range in USD, drawn from the 2026-10-27 screen. The gold marker is the market price at the same screen. The price runs 36.4% above the base estimate.
Third-party analyst targets: 6 covering, consensus Buy. The average target sits +22% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-27 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Why it gives us pause
At 116.2x forward earnings, the price already runs ahead of the business. It trades 36% above our $2.60 fair value, so you would be buying at a premium, not a discount. The weak moat is real, but quality alone does not make an expensive price cheap.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
BORR trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-25Accumulation$4.55+0.0%Entry 9
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading neutral. Over the past year the shares are up 105%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (5 analysts) rates it buy, with a mean price target of $6.
2026-10-18Accumulation$4.55+6.8%Entry 8
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 6.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 25% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 105%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (5 analysts) rates it buy, with a mean price target of $6.
2026-10-11Accumulation · changed$4.26+0.0%Entry 7
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 25% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 105%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (5 analysts) rates it buy, with a mean price target of $6.
2026-10-02Markdown · changed$4.26-3.2%Entry 6
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 25% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 105%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (5 analysts) rates it buy, with a mean price target of $6.
2026-08-23Markup · changed$4.40+5.8%Entry 5
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 5.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 25% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 105%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (5 analysts) rates it buy, with a mean price target of $6.
2026-07-23Distribution$4.16-13.5%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 13.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 25% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 105%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (5 analysts) rates it buy, with a mean price target of $6.
2026-07-18Distribution$4.81+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 25% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 105%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (5 analysts) rates it buy, with a mean price target of $6.
2026-07-03Distribution$4.81+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Distribution$4.81Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
