NYSE : RIG
Transocean Ltd. — Financial statements
Energy · Oil & Gas Drilling · Switzerland
Last price 6.585 USD (Nov 2, 2026, 11:47 AM EST) · Market cap 7.35B
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Financial statements
Transocean Ltd. (RIG) reported revenue of 4.03B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 4.03B | 3.96B | 3.52B | 2.83B | 2.58B | 2.56B |
| Revenue | 4.03B | 3.96B | 3.52B | 2.83B | 2.58B | 2.56B |
| Cost of Revenue | 2.41B | 2.41B | 2.17B | 1.96B | 1.67B | 1.69B |
| Gross Profit | 1.62B | 1.56B | 1.35B | 872.00M | 907.00M | 871.00M |
| Selling, General & Admin | 216.00M | 194.00M | 216.00M | 192.00M | 180.00M | 161.00M |
| Operating Expenses | 800.00M | 853.00M | 955.00M | 936.00M | 915.00M | 903.00M |
| Operating Income | 819.00M | 706.00M | 395.00M | -64.00M | -8.00M | -32.00M |
| Interest Expense | -563.00M | -555.00M | -362.00M | -646.00M | -561.00M | -447.00M |
| Interest & Investment Income | 33.00M | 40.00M | 50.00M | 52.00M | 27.00M | 15.00M |
| Currency Exchange Gain (Loss) | -13.00M | -13.00M | 16.00M | 10.00M | -8.00M | -1.00M |
| Other Non Operating Income (Expenses) | 34.00M | 11.00M | 7.00M | 19.00M | 14.00M | 43.00M |
| EBT Excluding Unusual Items | 310.00M | 189.00M | 106.00M | -629.00M | -536.00M | -422.00M |
| Gain (Loss) on Sale of Investments | 1.00M | 1.00M | -1.00M | -14.00M | -24.00M | -37.00M |
| Gain (Loss) on Sale of Assets | 4.00M | 7.00M | -17.00M | -183.00M | -10.00M | -62.00M |
| Asset Writedown | -3.05B | -772.00M | -57.00M | |||
| Other Unusual Items | -107.00M | -96.00M | 161.00M | -58.00M | 8.00M | 51.00M |
| Pretax Income | 208.00M | -2.95B | -523.00M | -941.00M | -562.00M | -470.00M |
| Income Tax Expense | -84.00M | -33.00M | -11.00M | 13.00M | 59.00M | 121.00M |
| Earnings From Continuing Operations | 292.00M | -2.92B | -512.00M | -954.00M | -621.00M | -591.00M |
| Net Income to Company | 292.00M | -2.92B | -512.00M | -954.00M | -621.00M | -591.00M |
| Minority Interest in Earnings | -1.00M | |||||
| Net Income | 292.00M | -2.92B | -512.00M | -954.00M | -621.00M | -592.00M |
| Net Income to Common | 292.00M | -2.92B | -512.00M | -954.00M | -621.00M | -592.00M |
| Shares Outstanding (Basic) | 1.11B | 960.00M | 850.00M | 768.00M | 699.00M | 637.00M |
| Shares Outstanding (Diluted) | 1.12B | 960.00M | 925.00M | 768.00M | 699.00M | 637.00M |
| EPS (Basic) | 0.26 | -3.04 | -0.60 | -1.24 | -0.89 | -0.93 |
| EPS (Diluted) | 0.26 | -3.04 | -0.76 | -1.24 | -0.89 | -0.93 |
| Free Cash Flow | 800.00M | 626.00M | 193.00M | -263.00M | -269.00M | 367.00M |
| Free Cash Flow Per Share | 0.71 | 0.65 | 0.21 | -0.34 | -0.39 | 0.58 |
| Gross Margin | 40.20% | 39.32% | 38.31% | 30.79% | 35.22% | 34.08% |
| Operating Margin | 20.34% | 17.81% | 11.21% | -2.26% | -0.31% | -1.25% |
| Profit Margin | 7.25% | -73.52% | -14.53% | -33.69% | -24.12% | -23.16% |
| Free Cash Flow Margin | 19.87% | 15.79% | 5.48% | -9.29% | -10.45% | 14.36% |
| EBITDA | 1.40B | 1.36B | 1.14B | 732.00M | 844.00M | 930.00M |
| EBITDA Margin | 34.84% | 34.43% | 32.29% | 25.85% | 32.78% | 36.38% |
| D&A For EBITDA | 584.00M | 659.00M | 743.00M | 796.00M | 852.00M | 962.00M |
| EBIT | 819.00M | 706.00M | 395.00M | -64.00M | -8.00M | -32.00M |
| EBIT Margin | 20.34% | 17.81% | 11.21% | -2.26% | -0.31% | -1.25% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 499.00M | 620.00M | 560.00M | 762.00M | 683.00M | 976.00M |
| Cash & Short-Term Investments | 499.00M | 620.00M | 560.00M | 762.00M | 683.00M | 976.00M |
| Accounts Receivable | 645.00M | 540.00M | 564.00M | 526.00M | 485.00M | 492.00M |
| Receivables | 645.00M | 540.00M | 564.00M | 526.00M | 485.00M | 492.00M |
| Inventory | 371.00M | 378.00M | 439.00M | 426.00M | 388.00M | 392.00M |
| Restricted Cash | 285.00M | 377.00M | 381.00M | 233.00M | 308.00M | 436.00M |
| Other Current Assets | 189.00M | 166.00M | 508.00M | 179.00M | 144.00M | 148.00M |
| Total Current Assets | 1.99B | 2.08B | 2.45B | 2.13B | 2.01B | 2.44B |
| Property, Plant & Equipment | 12.24B | 12.58B | 15.83B | 16.94B | 17.47B | 17.10B |
| Long-Term Investments | 121.00M | 123.00M | 216.00M | 128.00M | 91.00M | |
| Other Intangible Assets | 4.00M | 56.00M | 173.00M | |||
| Long-Term Deferred Tax Assets | 62.00M | 61.00M | 45.00M | 44.00M | 13.00M | 7.00M |
| Long-Term Deferred Charges | 136.00M | 224.00M | 221.00M | 26.00M | 21.00M | |
| Other Long-Term Assets | 779.00M | 658.00M | 686.00M | 696.00M | 695.00M | 811.00M |
| Total Assets | 15.07B | 15.64B | 19.37B | 20.25B | 20.44B | 20.68B |
| Accounts Payable | 269.00M | 242.00M | 255.00M | 323.00M | 281.00M | 228.00M |
| Accrued Expenses | 295.00M | 309.00M | 338.00M | 310.00M | 351.00M | |
| Current Portion of Long-Term Debt | 460.00M | 445.00M | 686.00M | 370.00M | 719.00M | 513.00M |
| Current Portion of Leases | 59.00M | 54.00M | 55.00M | 47.00M | 48.00M | |
| Current Income Taxes Payable | 6.00M | 22.00M | 31.00M | 23.00M | 19.00M | 17.00M |
| Current Unearned Revenue | 181.00M | 231.00M | 165.00M | 124.00M | 83.00M | |
| Other Current Liabilities | 568.00M | 92.00M | 97.00M | 123.00M | 58.00M | 63.00M |
| Total Current Liabilities | 1.30B | 1.34B | 1.66B | 1.40B | 1.56B | 1.30B |
| Long-Term Debt | 4.56B | 5.21B | 6.20B | 7.04B | 6.63B | 6.66B |
| Long-Term Leases | 255.00M | 312.00M | 384.00M | 423.00M | 475.00M | |
| Long-Term Unearned Revenue | 92.00M | 212.00M | 233.00M | 204.00M | 265.00M | |
| Pension & Post-Retirement Benefits | 103.00M | 100.00M | 121.00M | 170.00M | 128.00M | |
| Long-Term Deferred Tax Liabilities | 254.00M | 404.00M | 499.00M | 540.00M | 493.00M | 447.00M |
| Other Long-Term Liabilities | 499.00M | 132.00M | 105.00M | 120.00M | 168.00M | 200.00M |
| Total Liabilities | 6.61B | 7.53B | 9.09B | 9.84B | 9.64B | 9.47B |
| Common Stock | 112.00M | 110.00M | 87.00M | 81.00M | 71.00M | 64.00M |
| Additional Paid-In Capital | 15.62B | 15.60B | 14.88B | 14.54B | 13.98B | 13.68B |
| Retained Earnings | -7.19B | -7.46B | -4.54B | -4.03B | -3.08B | -2.46B |
| Comprehensive Income & Other | -88.00M | -146.00M | -138.00M | -177.00M | -185.00M | -84.00M |
| Total Common Equity | 8.45B | 8.11B | 10.28B | 10.41B | 10.79B | 11.21B |
| Minority Interest | 1.00M | 1.00M | 1.00M | 1.00M | ||
| Shareholders' Equity | 8.45B | 8.11B | 10.29B | 10.42B | 10.79B | 11.21B |
| Total Liabilities & Equity | 15.07B | 15.64B | 19.37B | 20.25B | 20.44B | 20.68B |
| Total Debt | 5.02B | 5.97B | 7.25B | 7.85B | 7.82B | 7.69B |
| Net Cash (Debt) | -4.52B | -5.35B | -6.69B | -7.09B | -7.13B | -6.72B |
| Net Cash Per Share | -4.03 | -5.57 | -7.23 | -9.23 | -10.21 | -10.54 |
| Filing Date Shares Outstanding | 1.12B | 1.10B | 878.89M | 809.03M | 726.26M | 656.38M |
| Total Common Shares Outstanding | 1.12B | 1.10B | 875.83M | 809.03M | 721.89M | 655.51M |
| Working Capital | 686.00M | 745.00M | 789.00M | 729.00M | 450.00M | 1.14B |
| Book Value Per Share | 7.57 | 7.36 | 11.74 | 12.87 | 14.95 | 17.09 |
| Tangible Book Value | 8.45B | 8.11B | 10.28B | 10.41B | 10.73B | 11.03B |
| Tangible Book Value Per Share | 7.57 | 7.36 | 11.74 | 12.87 | 14.87 | 16.83 |
| Construction In Progress | 522.00M | 1.20B | 1.02B | |||
| Order Backlog | 6.29B | 8.74B | 9.25B | 8.34B | 6.60B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 292.00M | -2.92B | -512.00M | -954.00M | -621.00M | -592.00M |
| Depreciation & Amortization | 584.00M | 659.00M | 743.00M | 796.00M | 852.00M | 962.00M |
| Other Amortization | 33.00M | |||||
| Loss (Gain) From Sale of Assets | -4.00M | -7.00M | 17.00M | 183.00M | 10.00M | 62.00M |
| Asset Writedown & Restructuring Costs | 3.05B | 772.00M | 57.00M | |||
| Loss (Gain) From Sale of Investments | -19.00M | 5.00M | 5.00M | 37.00M | ||
| Stock-Based Compensation | 36.00M | 35.00M | 47.00M | 40.00M | 29.00M | 28.00M |
| Other Operating Activities | 81.00M | 37.00M | -383.00M | 253.00M | 239.00M | 155.00M |
| Change in Accounts Receivable | -30.00M | -30.00M | -94.00M | -99.00M | -15.00M | 137.00M |
| Change in Accounts Payable | -12.00M | -12.00M | -86.00M | 144.00M | 8.00M | -52.00M |
| Change in Unearned Revenue | -122.00M | -170.00M | 45.00M | 70.00M | -20.00M | -108.00M |
| Change in Income Taxes | 17.00M | 17.00M | -19.00M | -36.00M | -42.00M | -17.00M |
| Change in Other Net Operating Assets | 100.00M | 86.00M | -88.00M | -295.00M | -25.00M | -37.00M |
| Operating Cash Flow | 923.00M | 749.00M | 447.00M | 164.00M | 448.00M | 575.00M |
| Capital Expenditures | -123.00M | -123.00M | -254.00M | -427.00M | -717.00M | -208.00M |
| Sale of Property, Plant & Equipment | 71.00M | 84.00M | 101.00M | 10.00M | 7.00M | 9.00M |
| Investment in Securities | -11.00M | 6.00M | 5.00M | -3.00M | -42.00M | -1.00M |
| Other Investing Activities | 13.00M | -3.00M | -3.00M | -5.00M | -33.00M | |
| Investing Cash Flow | -50.00M | -33.00M | -151.00M | -423.00M | -757.00M | -233.00M |
| Long-Term Debt Issued | 492.00M | 1.77B | 1.98B | 175.00M | ||
| Long-Term Debt Repaid | -1.56B | -2.10B | -1.72B | -554.00M | -606.00M | |
| Net Debt Issued (Repaid) | -1.33B | -1.06B | -333.00M | 266.00M | -379.00M | -606.00M |
| Issuance of Common Stock | 421.00M | 263.00M | 158.00M | |||
| Other Financing Activities | -7.00M | -17.00M | -17.00M | -3.00M | 4.00M | -42.00M |
| Financing Cash Flow | -1.34B | -660.00M | -350.00M | 263.00M | -112.00M | -490.00M |
| Net Cash Flow | -466.00M | 56.00M | -54.00M | 4.00M | -421.00M | -148.00M |
| Free Cash Flow | 800.00M | 626.00M | 193.00M | -263.00M | -269.00M | 367.00M |
| Free Cash Flow Margin | 19.87% | 15.79% | 5.48% | -9.29% | -10.45% | 14.36% |
| Free Cash Flow Per Share | 0.71 | 0.65 | 0.21 | -0.34 | -0.39 | 0.58 |
| Levered Free Cash Flow | 730.00M | 1.01B | -20.38M | 106.25M | 34.38M | 506.62M |
| Unlevered Free Cash Flow | 1.08B | 1.35B | 205.88M | 510.00M | 352.00M | 786.00M |
| Cash Interest Paid | 538.00M | 538.00M | 521.00M | 408.00M | 355.00M | 429.00M |
| Cash Income Tax Paid | 61.00M | 61.00M | 60.00M | 41.00M | 66.00M | 57.00M |
| Change in Working Capital | -47.00M | -109.00M | -242.00M | -216.00M | -94.00M | -77.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.96B | 4.55B | 3.28B | 5.14B | 3.29B | 1.81B |
| Enterprise Value | 11.48B | 9.94B | 9.81B | 11.93B | 9.54B | 8.26B |
| Last Close Price | 6.23 | 4.13 | 3.75 | 6.35 | 4.56 | 2.76 |
| Forward PE | 32.69 | 22.00 | 53.96 | 201.83 | 69.09 | 69.09 |
| PS Ratio | 1.73 | 1.15 | 0.93 | 1.81 | 1.28 | 0.71 |
| PB Ratio | 0.83 | 0.56 | 0.32 | 0.49 | 0.30 | 0.16 |
| P/TBV Ratio | 0.82 | 0.56 | 0.32 | 0.49 | 0.31 | 0.16 |
| P/FCF Ratio | 8.70 | 7.27 | 17.02 | 4.93 | ||
| P/OCF Ratio | 7.54 | 6.07 | 7.35 | 31.32 | 7.35 | 3.15 |
| PEG Ratio | 0.92 | 0.92 | 0.92 | 0.92 | 0.92 | |
| EV/Sales Ratio | 2.85 | 2.51 | 2.78 | 4.21 | 3.71 | 3.23 |
| EV/EBITDA Ratio | 8.18 | 7.28 | 8.62 | 16.30 | 11.30 | 8.88 |
| EV/EBIT Ratio | 14.01 | 14.07 | 24.84 | |||
| EV/FCF Ratio | 14.35 | 15.87 | 50.83 | 22.51 | ||
| Debt / Equity Ratio | 0.59 | 0.74 | 0.70 | 0.75 | 0.72 | 0.69 |
| Debt / EBITDA Ratio | 3.58 | 4.30 | 6.23 | 10.36 | 8.99 | 8.02 |
| Debt / FCF Ratio | 6.27 | 9.54 | 37.55 | 20.96 | ||
| Net Debt / Equity Ratio | 0.54 | 0.66 | 0.65 | 0.68 | 0.66 | 0.60 |
| Net Debt / EBITDA Ratio | 3.22 | 3.92 | 5.88 | 9.69 | 8.45 | 7.22 |
| Net Debt / FCF Ratio | 5.65 | 8.55 | 34.65 | -26.96 | -26.52 | 18.30 |
| Asset Turnover | 0.26 | 0.23 | 0.18 | 0.14 | 0.12 | 0.12 |
| Inventory Turnover | 6.40 | 5.89 | 5.03 | 4.82 | 4.28 | 4.08 |
| Quick Ratio | 0.88 | 0.87 | 0.68 | 0.92 | 0.75 | 1.13 |
| Current Ratio | 1.53 | 1.56 | 1.47 | 1.52 | 1.29 | 1.88 |
| Return on Equity (ROE) | 3.53% | -31.70% | -4.95% | -9.00% | -5.65% | -5.22% |
| Return on Assets (ROA) | 3.28% | 2.52% | 1.25% | -0.20% | -0.02% | -0.09% |
| Return on Invested Capital (ROIC) | 6.31% | 4.64% | 2.29% | -0.36% | -0.04% | -0.18% |
| Return on Capital Employed (ROCE) | 5.90% | 4.90% | 2.20% | -0.30% | 0.00% | -0.20% |
| Earnings Yield | 4.21% | -64.08% | -15.59% | -18.57% | -18.87% | -32.72% |
| FCF Yield | 11.50% | 13.76% | 5.88% | -5.12% | -8.17% | 20.29% |
| Buyback Yield / Dilution | -24.14% | -3.78% | -20.44% | -9.87% | -9.73% | -3.58% |
| Total Shareholder Return | -24.14% | -3.78% | -20.44% | -9.87% | -9.73% | -3.58% |