Transocean Ltd. RIG

Energy SIC 1381 - Drilling Oil & Gas Wells NAICS Mining, Quarrying, and Oil and Gas Extraction › Support Activities for Mining › Drilling Oil and Gas Wells derived NYSE

Transocean Ltd. (together with its subsidiaries and predecessors, unless the context requires otherwise, "Transocean," the "Company," "we," "us" or "our") is a leading international provider of offshore contract drilling services for oil and gas wells. As of February 17, 2026, we owned or had partial ownership interests in and operated 27 mobile offshore drilling units, consisting of 20 ultra-deepwater drillships and seven harsh environment semisubmersibles.

We provide, as our primary business, contract drilling services in a single operating segment, which involves contracting our mobile offshore drilling rigs, related equipment and work crews to drill oil and gas wells. We specialize in technically demanding regions of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services. Our drilling fleet is one of the most versatile fleets in the world, consisting of drillships and semisubmersible floaters used in support of offshore drilling activities and offshore support services on a worldwide basis.

Last close 6.41 2026-10-23
Market cap $7.16B 2026-06-30 share count
52-week range 3.68 - 7.66

Valuation FY2025 figures against the last close

P/S1.8x
P/E—
P/FCF11.4x
EV/EBITDA—
Dividend yield—
Diluted EPS-3.04

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.96B$3.52B$2.83B$2.58B$2.56B$3.15B$3.09B$3.02B$2.97B$4.16B
Cost of revenue $2.41B$2.20B$1.99B$1.68B$1.70B$2.00B$2.14B$1.80B$1.39B$1.90B
Gross profit $1.56B$1.32B$846.0M$896.0M$859.0M$1.15B$948.0M$1.22B$1.58B$2.26B
SG&A $195.0M$214.0M$187.0M$182.0M$167.0M$183.0M$193.0M$188.0M$156.0M$172.0M
Total operating expenses $3.26B$3.15B$2.92B$2.60B$2.61B$2.96B$3.19B$2.81B$2.38B$2.97B
Operating income -$2.34B-$417.0M-$325.0M-$31.0M-$112.0M-$493.0M-$721.0M-$1.25B-$2.50B$1.11B
Interest expense $555.0M$362.0M$646.0M$561.0M$447.0M$575.0M$660.0M$620.0M$491.0M$409.0M
Pre-tax income -$2.95B-$523.0M-$941.0M-$562.0M-$470.0M-$541.0M-$1.20B-$1.77B-$3.00B$934.0M
Income tax $33.0M$11.0M$13.0M$59.0M$121.0M$27.0M$59.0M$228.0M$94.0M$107.0M
Net income -$2.92B-$512.0M-$954.0M-$621.0M-$592.0M-$567.0M-$1.25B-$2.00B-$3.13B$778.0M
EPS, basic -3.04-0.60-1.24-0.89-0.93-0.92-2.05-4.27-8.002.08
EPS, diluted -3.04-0.76-1.24-0.89-0.93-0.92-2.05-4.27-8.002.08
Shares, diluted (wtd. avg.) 960.0M925.0M768.0M699.0M637.0M615.0M612.0M468.0M391.0M367.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $620.0M$560.0M$995.0M$991.0M$1.41B$1.56B$2.35B$2.59B$2.98B$3.43B
Short-term investments ————————$450.0M—
Receivables $540.0M$564.0M$512.0M$485.0M$492.0M$583.0M$654.0M$604.0M$596.0M$833.0M
Total current assets $2.08B$2.45B$2.13B$2.01B$2.44B$2.74B$3.64B$3.95B$4.61B$5.10B
Property, plant and equipment $12.58B$15.83B$16.94B$17.47B$17.10B$17.67B$18.85B$20.41B$17.40B$21.09B
Other intangibles ——$4.0M$56.0M$173.0M$393.0M$608.0M$795.0M——
Total assets $15.64B$19.37B$20.25B$20.44B$20.68B$21.80B$24.11B$25.66B$22.41B$26.89B
Accounts payable $242.0M$255.0M$323.0M$281.0M$228.0M$194.0M$311.0M$269.0M$201.0M$206.0M
Short-term debt $445.0M$686.0M$370.0M$719.0M$513.0M$505.0M$568.0M$373.0M$250.0M$724.0M
Total current liabilities $1.34B$1.66B$1.40B$1.56B$1.30B$1.39B$1.72B$1.46B$1.37B$1.99B
Long-term debt ——————$9.26B$9.98B$7.40B$7.74B
Retained earnings -$7.46B-$4.54B-$4.03B-$3.08B-$2.46B-$1.87B-$1.30B-$67.0M$1.93B$5.06B
Total equity $8.11B$10.28B$10.42B$10.79B$11.21B$11.44B$11.87B$13.11B$12.71B$15.80B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $749.0M$447.0M$164.0M$448.0M$575.0M$398.0M$340.0M$558.0M$1.17B$1.98B
Depreciation and amortisation $659.0M$739.0M$744.0M$735.0M$742.0M$781.0M$855.0M$818.0M$832.0M$893.0M
Stock-based compensation $35.0M$47.0M$40.0M$29.0M$28.0M$31.0M$37.0M$45.0M$41.0M$42.0M
Capital expenditure $123.0M$254.0M$427.0M$717.0M$208.0M$265.0M$387.0M$184.0M$497.0M$1.34B
Investing cash flow -$33.0M-$151.0M-$423.0M-$757.0M-$233.0M-$257.0M-$268.0M-$797.0M-$587.0M-$1.31B
Financing cash flow -$660.0M-$350.0M$263.0M-$112.0M-$490.0M-$930.0M-$312.0M-$147.0M-$1.04B$176.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001451505-26-000018.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -4B -2B 0 2B 4B 6B Revenue, FY2016: 4.2B Gross profit, FY2016: 2.3B Net income, FY2016: 778M Revenue, FY2017: 3B Gross profit, FY2017: 1.6B Net income, FY2017: -3.1B Revenue, FY2018: 3B Gross profit, FY2018: 1.2B Net income, FY2018: -2B Revenue, FY2019: 3.1B Gross profit, FY2019: 948M Net income, FY2019: -1.3B Revenue, FY2020: 3.2B Gross profit, FY2020: 1.2B Net income, FY2020: -567M Revenue, FY2021: 2.6B Gross profit, FY2021: 859M Net income, FY2021: -592M Revenue, FY2022: 2.6B Gross profit, FY2022: 896M Net income, FY2022: -621M Revenue, FY2023: 2.8B Gross profit, FY2023: 846M Net income, FY2023: -954M Revenue, FY2024: 3.5B Gross profit, FY2024: 1.3B Net income, FY2024: -512M Revenue, FY2025: 4B Gross profit, FY2025: 1.6B Net income, FY2025: -2.9B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $4.16B $2.97B $3.02B $3.09B $3.15B $2.56B $2.58B $2.83B $3.52B $3.96B
Gross profit $2.26B $1.58B $1.22B $948.0M $1.15B $859.0M $896.0M $846.0M $1.32B $1.56B
Net income $778.0M -$3.13B -$2.00B -$1.25B -$567.0M -$592.0M -$621.0M -$954.0M -$512.0M -$2.92B

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Item 7.01
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event Item 8.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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