Transocean Ltd. (RIG) Stock Analysis
Energy · Oil & Gas Drilling · NYSE
Transocean Ltd. (RIG) posted $3.96B in revenue for fiscal 2025 (up 12.5% year over year), with a net loss of $2.92B, and has compounded revenue about 4.7%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Transocean Ltd.
Transocean Ltd. has grown revenue from $4.16B to $3.96B over the last 10 fiscal years, compounding about 4.7% a year. The most recent year was up 12.5%, so growth is actually accelerating.
Net margin sits at -73.5%, down 59 points year over year on a 83.4% gross margin. It carries about $5.66B of total debt.
At today's valuation the market is pricing in roughly -0.8% annual free-cash-flow growth — versus the 36.3% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven. The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from Transocean Ltd.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Transocean Ltd. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | $948.00M | $1.15B | $859.00M | $1.84B | $2.09B | $2.79B | $3.31B |
| Net income | $778.00M | $-3.13B | $-2.00B | $-1.25B | $-567.00M | $-592.00M | $-621.00M | $-954.00M | $-512.00M | $-2.92B |
| Net margin | 18.7% | -105.2% | -66.1% | -40.6% | -18.0% | -23.2% | -24.1% | -33.7% | -14.5% | -73.5% |
Source: Transocean Ltd. SEC filings (10-K). 19 years of history available in the interactive view.
Transocean Ltd.: 3 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 68.0% over 4 years (655.5M → 1101.5M) — existing holders' stakes are being diluted.
- Heavy debt loadTotal debt of $6102M is 8.1× last year's operating cash flow — it would take years of cash flow to clear.
- Currently unprofitableThe latest fiscal year was a net loss (net margin -73.5%).
What growth is priced into RIG stock?
At today's market cap of $6.75B, Transocean Ltd. is priced for free-cash-flow growth of about -0.8% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $626.00M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 36.3%/yr over the last five fiscal years and revenue 4.7%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 19 years of Transocean Ltd. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Transocean Ltd. financial history by metric
Compare Transocean Ltd. with peers
About Transocean Ltd.
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells in Switzerland and internationally. The company contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. It also operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment semisubmersibles. It serves integrated energy companies and their affiliates, government-owned or government-controlled energy companies, and other independent energy companies. Transocean Ltd. was founded in 1926 and is based in Zug, Switzerland.
Transocean Ltd. — frequently asked questions
What is Transocean Ltd.'s revenue?
Transocean Ltd. (RIG) reported revenue of $3.96B for fiscal year 2025, up 12.5% from the prior year, according to its SEC filings.
Is Transocean Ltd. profitable?
No — RIG reported a net loss of $-2.92B in fiscal 2025.
What is RIG's P/E ratio?
Transocean Ltd. trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How fast is Transocean Ltd. growing?
RIG's revenue grew at roughly 4.7% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Transocean Ltd. have?
As of fiscal year 2025, RIG carried roughly $5.66B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Transocean Ltd.'s gross margin?
RIG's gross margin was 83.4% in fiscal 2025 — gross profit of $3.31B on revenue of $3.96B.
What is Transocean Ltd.'s market cap?
Transocean Ltd. (RIG) has a market capitalization of about $6.75B, based on the latest data in our nightly-refreshed cache.
When does Transocean Ltd.'s fiscal year end?
RIG's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into RIG stock?
At today's market cap of $6.75B, Transocean Ltd. is priced for free-cash-flow growth of about -0.8% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $626.00M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 36.3%/yr over the last five fiscal years and revenue 4.7%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Transocean Ltd.'s official SEC filings (10-K and 10-Q), covering 19 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.