Buy Like Buffett

The Moat Index

Valaris Limited

VAL · Materials · $5.3B mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

34/ 100
No moat

The four filters

Pricing power0

Median gross margin -13595.0% over 7y, variable.

Returns on capital8

Median ROIC 3.9%, above the 9% hurdle in 22% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline58

Owner earnings +1.3%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale
587% above value
Owner earnings (normalized)
$69.4M
Est. intrinsic value / share
$11.14
Recent price
$76.54
Discount to value
587% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

19 years of fundamentals

The business, in plain English

Valaris Limited booked $11.9M of revenue in FY2025 in the Materials sector and kept −13595.0% of it as gross profit — a thin-margin business by that measure. After every other cost, 8258.8% of each revenue dollar reached the bottom line.

Across the filed record, revenue shrank from $2.8B (FY2016) to $11.9M (FY2025) — about −45.4% a year compounded over 9 years.

It earned 18.6% on invested capital in FY2025, with a median of 5.8% across 16 filed years. The Returns on Capital filter above scores it 8/100.

The balance sheet carried $4.8B of total debt in FY2017. Balance-Sheet Safety scores it 100/100.

Put together: Balance-Sheet Safety is the strongest of the four filters (100/100) and Pricing Power the weakest (0/100), which is how VAL lands at 34/100 — a None moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2007–FY2025 · 19 fiscal years, normalized from VAL’s SEC filings

RevenueSales, as filed$11.9M FY2025
$0$1B$2B2007201320192025
Gross marginRevenue kept after cost of goods−13595.0% FY2025
−10000%0%2007201320192025
Return on invested capitalOperating profit on the capital employed18.6% FY2025
−50%0%2007201320192025
Owner earningsCash an owner could take out$639.3M FY2025
−$5B−$2.5B$02007201320192025

Gaps in a line mean that item isn’t in VAL’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

3 logged readings since Jul 17, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale34.0 / 100
0406080100WideNarrowShallowNo moatJul 17, 2026

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — VAL has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Materials context

#131 of 214 scored Materials companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #129RITE MINERALRITE CORPORATION34.4No moat
  2. #130GPK Graphic Packaging Holding Co34.1No moat
  3. #132AUMN Golden Minerals Company34.0No moat
  4. #133METC RAMACO RESOURCES, INC.33.8No moat

Compare VAL with its nearest peers →All Materials companies on the Index →

Common questions about VAL

Does Valaris Limited have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores Valaris Limited (VAL) 34.0 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 0, returns on capital 8, balance-sheet safety 100, capital discipline 58.
Is VAL stock trading below its intrinsic value?
Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $11.14 per share versus a recent price of $76.54 — 587% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has VAL's Moat Score changed over time?
The record logs 3 readings since Jul 17, 2026; the latest reads 34.0 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.
Embed this score on your site

One iframe, no script. The badge shows VAL’s live Moat Score, updates itself as new filings are scored, and links back here. How it works.

<iframe
  src="https://buylikebuffett.com/embed/VAL"
  width="340" height="150" style="border:0"
  title="VAL Moat Score — The Moat Index"
  loading="lazy"></iframe>

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell VAL. See the disclaimer.

Valaris Limited (VAL) Moat Score — The Moat Index · Buy Like Buffett