Transocean LTD. (RIG) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the RIG SEC filings page.
Transocean LTD. (RIG) reported $4.1B in revenue over the twelve months to Jun 30, 2026, up 8.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue and gross margin improved, but a 2025 operating collapse shows reported cash generation is not matching economic profitability.
The company added scale and widened gross margin from FY2024 to FY2025, but operating margin fell from-11.8% to-58.9% . That separation places the 2025 breakdown below gross profit: the core revenue-producing economics improved on paper while costs and charges beneath that line overwhelmed them.
Net loss was
Debt declined from
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Transocean LTD.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Transocean LTD. has an operating margin of -58.9%, meaning the company loses $59 on every $100 of revenue. This results in a profitability score of 15/100. This is down from -11.8% the prior year.
Transocean LTD.'s revenue grew 12.5% year-over-year to $4.0B, a solid pace of expansion. This earns a growth score of 81/100.
Transocean LTD. has a moderate D/E ratio of 0.64. This balance of debt and equity financing earns a leverage score of 57/100.
Transocean LTD.'s current ratio of 1.56 indicates adequate short-term liquidity, earning a score of 58/100. The company can meet its near-term obligations, though with limited headroom.
Transocean LTD. has a free cash flow margin of 15.8%, earning a moderate score of 60/100. The company generates positive cash flow after capital investments, but with room for improvement.
Transocean LTD. posts a -35.9% return on equity (ROE), meaning it loses $36 for every $100 of shareholders' equity. This results in a returns score of 11/100. This is down from -5.0% the prior year.
Transocean LTD. scores -0.39, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($5.8B) relative to total liabilities ($7.5B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Transocean LTD. passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Transocean LTD. reported a net loss of $2.9B while generating $749.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Transocean LTD. reported an operating loss of $2.3B against $555.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Transocean LTD. generated $966.0M in revenue in Q2 2026. This represents a decrease of 2.2% from the same quarter a year earlier. Against the prior quarter it is down 10.6%.
Transocean LTD.'s EBITDA was $300.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 138.0% from the same quarter a year earlier. Against the prior quarter it is down 30.2%.
Transocean LTD. reported $170.0M in net income in Q2 2026. This represents an increase of 118.1% from the same quarter a year earlier. Against the prior quarter it is up 139.4%.
Cash & Balance Sheet
Transocean LTD. generated $212.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 103.8% from the same quarter a year earlier. Against the prior quarter it is up 55.9%.
Transocean LTD. held $509.0M in cash against $4.7B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Transocean LTD.'s gross margin was 37.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 2.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 6.9 percentage points.
Transocean LTD.'s operating margin was 15.7% in Q2 2026, reflecting core business profitability. This is up 113.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 10.8 percentage points.
Transocean LTD.'s net profit margin was 17.6% in Q2 2026, showing the share of revenue converted to profit. This is up 112.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 11.0 percentage points.
Transocean LTD.'s ROE was 2.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 12.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.2 percentage points.
Capital Allocation
Transocean LTD. invested $24.0M in capex in Q2 2026, funding long-term assets and infrastructure. That is unchanged from the same quarter a year earlier. Against the prior quarter it is down 14.3%.
Not reported for Q2 2026.
Not reported for Q2 2026.
RIG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $966.0M-2.2% | $1.1B+19.3% | $1.0B+9.6% | $1.0B+8.4% | $988.0M+14.8% | $906.0M+18.7% | $952.0M+28.5% | $948.0M+33.0% |
| Cost of Revenue | $608.0M+1.5% | $606.0M-1.9% | $605.0M+4.5% | $584.0M+3.7% | $599.0M+12.2% | $618.0M+18.2% | $579.0M+1.8% | $563.0M+7.4% |
| Gross Profit | $358.0M-8.0% | $475.0M+64.9% | $438.0M+17.4% | $444.0M+15.3% | $389.0M+19.0% | $288.0M+20.0% | $373.0M+116.9% | $385.0M+103.7% |
| SG&A Expenses | $56.0M+14.3% | $49.0M-2.0% | $50.0M-10.7% | $46.0M-2.1% | $49.0M-16.9% | $50.0M-3.8% | $56.0M+12.0% | $47.0M+6.8% |
| Operating Income | $152.0M+115.8% | $287.0M+348.4% | $240.0M+84.6% | -$1.7B-245.8% | -$964.0M-1533.9% | $64.0M+2233.3% | $130.0M+283.1% | -$485.0M-781.8% |
| EBITDA | $300.0M+138.0% | $430.0M+79.2% | $387.0M+24.8% | -$1.5B-413.9% | -$789.0M-731.2% | $240.0M+31.9% | $310.0M+174.3% | -$295.0M-315.3% |
| Interest Expense | -$20.0M-117.9% | $276.0M+137.9% | $173.0M+90.1% | $154.0M+92.5% | $112.0M+51.4% | $116.0M-0.9% | $91.0M+3133.3% | $80.0M-65.5% |
| Income Tax | $14.0M+109.0% | -$54.0M-238.5% | $57.0M+3.6% | $26.0M+183.9% | -$155.0M-199.4% | $39.0M+120.4% | $55.0M+161.9% | -$31.0M+27.9% |
| Net Income | $170.0M+118.1% | $71.0M+189.9% | $25.0M+257.1% | -$1.9B-289.3% | -$938.0M-662.6% | -$79.0M-180.6% | $7.0M+106.7% | -$494.0M-124.5% |
| EPS (Basic) | $0.15+114.2% | $0.06+166.7% | $0.19+850.0% | -$2.00-257.1% | -$1.06-606.7% | -$0.09-175.0% | $0.02+118.2% | -$0.56-100.0% |
| EPS (Diluted) | $0.04 | $0.06 | $0.19+272.7% | -$2.00-244.8% | -$1.06-606.7% | -$0.11-200.0% | -$0.110.0% | -$0.58-107.1% |
| Diluted Shares (Avg) | 1.20B | 1.12B | N/A | 961M+0.7% | 888M+7.8% | 958M+0.3% | N/A | 954M+23.3% |
Not reported in any period shown, so not listed: R&D Expenses.
RIG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $15.2B-14.8% | $15.2B-20.3% | $15.6B-19.3% | $16.2B-17.1% | $17.8B-12.4% | $19.0B-4.6% | $19.4B-4.4% | $19.5B-2.5% |
| Current Assets | $1.9B-4.4% | $1.8B-19.9% | $2.1B-15.1% | $2.4B+3.2% | $2.0B-6.3% | $2.2B+17.8% | $2.5B+15.3% | $2.3B+19.1% |
| Cash & Equivalents | $509.0M+35.0% | $330.0M+25.5% | $620.0M+10.7% | $833.0M+91.5% | $377.0M-20.6% | $263.0M-41.0% | $560.0M-26.5% | $435.0M-26.8% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $6.8B-19.6% | $7.0B-21.0% | $7.5B-17.1% | $8.1B-12.8% | $8.5B-12.1% | $8.8B-6.4% | $9.1B-7.6% | $9.3B-4.2% |
| Current Liabilities | $1.2B-24.0% | $1.1B-30.7% | $1.3B-19.7% | $2.2B+56.2% | $1.6B+0.6% | $1.7B+19.6% | $1.7B+19.0% | $1.4B+21.2% |
| Non-Current Liabilities | $5.6B-18.6% | $5.8B-18.8% | $6.2B-16.5% | $5.9B-25.3% | $6.9B-14.5% | $7.2B-10.9% | $7.4B-12.1% | $7.9B-7.7% |
| Long-Term Debt | $4.7B-19.8% | $4.9B-16.7% | $5.2B-15.9% | $4.8B-25.4% | $5.9B-13.1% | $5.9B-12.7% | $6.2B-12.0% | $6.5B-8.0% |
| Total Equity | $8.4B-10.5% | $8.2B-19.8% | $8.1B-21.2% | $8.1B-21.0% | $9.4B-12.7% | $10.2B-3.0% | $10.3B-1.3% | $10.2B-0.9% |
| Retained Earnings | -$7.2B-29.8% | -$7.4B-59.8% | -$7.5B-64.1% | -$7.5B-64.4% | -$5.6B-37.1% | -$4.6B-17.5% | -$4.5B-12.7% | -$4.6B-15.9% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
RIG Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $236.0M+84.4% | $164.0M+530.8% | $349.0M+69.4% | $246.0M+26.8% | $128.0M-3.8% | $26.0M+130.2% | $206.0M+110.2% | $194.0M+540.9% |
| Depreciation & Amortization | $148.0M-15.4% | $143.0M-18.8% | $147.0M-18.3% | $161.0M-15.3% | $175.0M-4.9% | $176.0M-4.9% | $180.0M-2.2% | $190.0M-1.0% |
| Stock-Based Compensation | N/A | $8.0M0.0% | N/A | N/A | N/A | $8.0M-27.3% | N/A | N/A |
| Capital Expenditures | $24.0M0.0% | $28.0M-53.3% | $28.0M-3.4% | $11.0M-81.0% | $24.0M-71.4% | $60.0M-27.7% | $29.0M-86.8% | $58.0M+16.0% |
| Free Cash Flow | $212.0M+103.8% | $136.0M+500.0% | $321.0M+81.4% | $235.0M+72.8% | $104.0M+112.2% | -$34.0M+79.9% | $177.0M+245.1% | $136.0M+244.7% |
| Investing Cash Flow | -$25.0M-108.3% | $10.0M+117.2% | $14.0M+151.9% | $23.0M+330.0% | -$12.0M+83.6% | -$58.0M-41.5% | -$27.0M+87.7% | -$10.0M+75.0% |
| Financing Cash Flow | -$31.0M+11.4% | -$556.0M-155.0% | -$616.0M-1521.1% | $209.0M+180.7% | -$35.0M-135.4% | -$218.0M-43.4% | -$38.0M-112.3% | -$259.0M-82.4% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
RIG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.1%-2.3pp | 43.9%+12.2pp | 42.0%+2.8pp | 43.2%+2.6pp | 39.4%+1.4pp | 31.8%+0.3pp | 39.2%+16.0pp | 40.6%+14.1pp |
| Operating Margin | 15.7%+113.3pp | 26.6%+19.5pp | 23.0%+9.3pp | -163.1% | -97.6%-90.7pp | 7.1%+7.4pp | 13.7%+23.2pp | -51.2%-43.5pp |
| Net Margin | 17.6%+112.5pp | 6.6%+15.3pp | 2.4%+1.7pp | -187.1% | -94.9%-80.7pp | -8.7%-21.6pp | 0.7%+14.8pp | -52.1%-21.3pp |
| Return on Equity | 2.0%+12.1pp | 0.9%+1.6pp | 0.3%+0.2pp | -23.8%-19.0pp | -10.0%-8.9pp | -0.8%-1.7pp | 0.1%+1.1pp | -4.8%-2.7pp |
| Return on Assets | 1.1%+6.4pp | 0.5%+0.9pp | 0.2%+0.1pp | -11.9%-9.4pp | -5.3%-4.7pp | -0.4%-0.9pp | 0.0%+0.6pp | -2.5%-1.4pp |
| Current Ratio | 1.59+0.3x | 1.54+0.2x | 1.56+0.1x | 1.08-0.6x | 1.26-0.1x | 1.330.0x | 1.470.0x | 1.640.0x |
| Debt-to-Equity | 0.56-0.1x | 0.600.0x | 0.640.0x | 0.600.0x | 0.630.0x | 0.58-0.1x | 0.60-0.1x | 0.640.0x |
| Asset Turnover | 0.060.0x | 0.070.0x | 0.070.0x | 0.060.0x | 0.060.0x | 0.050.0x | 0.050.0x | 0.050.0x |
| FCF Margin | 21.9%+11.4pp | 12.6%+16.3pp | 30.8%+12.2pp | 22.9%+8.5pp | 10.5%+4.8pp | -3.8%+18.4pp | 18.6%+35.1pp | 14.3%+27.5pp |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Transocean LTD. RIG | FY2025 | $4.0B | -$2.9B | -73.5% | $5.8B | 47/100 |
| Noble Corporation plc NE | FY2025 | $3.3B | $216.7M | 6.6% | $6.5B | 52/100 |
| Seadrill Limited SDRL | FY2025 | $1.4B | -$77.0M | -5.4% | $2.7B | 38/100 |
| Sable Offshore Corp. SOC | FY2025 | $0 | -$410.2M | N/A | $673.5M | — |
| Patterson-UTI Energy Inc PTEN | FY2025 | $4.8B | -$93.1M | -1.9% | $4.3B | 49/100 |
| Helmerich & Payne, Inc. HP | FY2025 | $3.7B | -$163.7M | -4.4% | $3.9B | 50/100 |
Where Transocean LTD. Ranks
Frequently Asked Questions
What is Transocean LTD.'s annual revenue?
Transocean LTD. (RIG) reported $4.0B in total revenue for fiscal year 2025. This represents a 12.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Transocean LTD.'s revenue growing?
Transocean LTD. (RIG) revenue grew by 12.5% year-over-year, from $3.5B to $4.0B in fiscal year 2025.
Is Transocean LTD. profitable?
No, Transocean LTD. (RIG) reported a net income of -$2.9B in fiscal year 2025, with a net profit margin of -73.5%.
What is Transocean LTD.'s EBITDA?
Transocean LTD. (RIG) had EBITDA of -$1.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Transocean LTD. have?
As of fiscal year 2025, Transocean LTD. (RIG) had $620.0M in cash and equivalents against $5.2B in long-term debt.
What is Transocean LTD.'s gross margin?
Transocean LTD. (RIG) had a gross margin of 39.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Transocean LTD.'s operating margin?
Transocean LTD. (RIG) had an operating margin of -58.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Transocean LTD.'s net profit margin?
Transocean LTD. (RIG) had a net profit margin of -73.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Transocean LTD.'s return on equity (ROE)?
Transocean LTD. (RIG) has a return on equity of -35.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Transocean LTD.'s free cash flow?
Transocean LTD. (RIG) generated $626.0M in free cash flow during fiscal year 2025. This represents a 224.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Transocean LTD.'s operating cash flow?
Transocean LTD. (RIG) generated $749.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Transocean LTD.'s total assets?
Transocean LTD. (RIG) had $15.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Transocean LTD.'s capital expenditures?
Transocean LTD. (RIG) invested $123.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Transocean LTD.'s current ratio?
Transocean LTD. (RIG) had a current ratio of 1.56 as of fiscal year 2025, which is generally considered healthy.
What is Transocean LTD.'s debt-to-equity ratio?
Transocean LTD. (RIG) had a debt-to-equity ratio of 0.64 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Transocean LTD.'s return on assets (ROA)?
Transocean LTD. (RIG) had a return on assets of -18.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Transocean LTD.'s P/E ratio?
Transocean LTD. (RIG) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $5.8B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Transocean LTD.'s price-to-sales ratio?
Transocean LTD. (RIG) trades at 1.4x sales, its market capitalization divided by revenue of $4.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $5.8B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Transocean LTD.'s Altman Z-Score?
Transocean LTD. (RIG) has an Altman Z-Score of -0.39, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Transocean LTD.'s Piotroski F-Score?
Transocean LTD. (RIG) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Transocean LTD.'s earnings high quality?
Transocean LTD. (RIG) reported a net loss of $2.9B while generating $749.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Transocean LTD. cover its interest payments?
Transocean LTD. (RIG) reported an operating loss of $2.3B against $555.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Transocean LTD.?
Transocean LTD. (RIG) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.