Transocean Financials
Transocean (RIG) reported $4.0B in revenue for fiscal year 2025, up 12.5% from the prior fiscal year. 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).
RIG’s cash generation strengthened while reported losses exploded, revealing a capital-heavy business reshaped more by accounting than cash burn.
In FY2025, free cash flow reached$626M on$749M of operating cash flow after two negative-FCF years. Set against a net loss of-$2.9B and only$123M of capex, that mismatch says the year's pain was concentrated in non-cash charges while near-term cash demands actually eased.
Long-term debt fell to
The gross margin climbed to
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'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 scores -0.32, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($6.7B) 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 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 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 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 generated $4.0B in revenue in fiscal year 2025. This represents an increase of 12.5% from the prior year.
Transocean's EBITDA was -$1.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 621.1% from the prior year.
Transocean reported -$2.9B in net income in fiscal year 2025. This represents a decrease of 469.3% from the prior year.
Transocean earned -$3.04 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 300.0% from the prior year.
Cash & Balance Sheet
Transocean generated $626.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 224.4% from the prior year.
Transocean held $620.0M in cash against $5.2B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Transocean's gross margin was 39.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.7 percentage points from the prior year.
Transocean's operating margin was -58.9% in fiscal year 2025, reflecting core business profitability. This is down 47.1 percentage points from the prior year.
Transocean's net profit margin was -73.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 59.0 percentage points from the prior year.
Transocean's ROE was -35.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 31.0 percentage points from the prior year.
Capital Allocation
Transocean invested $123.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 51.6% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
RIG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.1B | $4.0B+12.5% | $3.5B+24.4% | $2.8B+10.0% | $2.6B+0.7% | $2.6B-18.9% | $3.2B+2.1% | $3.1B+2.3% | $3.0B+1.5% | $3.0B-28.6% | $4.2B-43.7% | $7.4B-19.6% | $9.2B-0.7% | $9.2B+3.4% | $8.9B+11.4% | $8.0B |
| Cost of Revenue | $2.4B | $2.4B+9.4% | $2.2B+10.7% | $2.0B+18.3% | $1.7B-1.1% | $1.7B-15.2% | $2.0B-6.5% | $2.1B+19.0% | $1.8B+29.5% | $1.4B-26.9% | $1.9B | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $1.7B | $1.6B+17.7% | $1.3B+56.6% | $846.0M-5.6% | $896.0M+4.3% | $859.0M-25.4% | $1.2B+21.5% | $948.0M-22.2% | $1.2B-23.0% | $1.6B-29.9% | $2.3B | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $201.0M | $195.0M-8.9% | $214.0M+14.4% | $187.0M+2.7% | $182.0M+9.0% | $167.0M-8.7% | $183.0M-5.2% | $193.0M+2.7% | $188.0M+20.5% | $156.0M-9.3% | $172.0M-10.4% | $192.0M-17.9% | $234.0M-18.2% | $286.0M+1.4% | $282.0M-2.1% | $288.0M |
| Operating Income | -$998.0M | -$2.3B-460.4% | -$417.0M-28.3% | -$325.0M-948.4% | -$31.0M+72.3% | -$112.0M+77.3% | -$493.0M+31.6% | -$721.0M+42.4% | -$1.3B+50.1% | -$2.5B-326.5% | $1.1B-19.0% | $1.4B+201.3% | -$1.3B-160.8% | $2.2B+38.6% | $1.6B+133.6% | -$4.8B |
| Interest Expense | $583.0M | $555.0M+53.3% | $362.0M-44.0% | $646.0M+15.2% | $561.0M+25.5% | $447.0M-22.3% | $575.0M-12.9% | $660.0M+6.5% | $620.0M+26.3% | $491.0M+20.0% | $409.0M-5.3% | $432.0M-10.6% | $483.0M-17.3% | $584.0M-19.2% | $723.0M+16.4% | $621.0M |
| Income Tax | $43.0M | -$33.0M-200.0% | -$11.0M-184.6% | $13.0M-78.0% | $59.0M-51.2% | $121.0M+348.1% | $27.0M-54.2% | $59.0M-74.1% | $228.0M+142.6% | $94.0M-12.1% | $107.0M-10.8% | $120.0M+30.4% | $92.0M-64.3% | $258.0M+396.2% | $52.0M-84.0% | $324.0M |
| Net Income | -$1.7B | -$2.9B-469.3% | -$512.0M+46.3% | -$954.0M-53.6% | -$621.0M-4.9% | -$592.0M-4.4% | -$567.0M+54.8% | -$1.3B+37.1% | -$2.0B+36.2% | -$3.1B-501.9% | $778.0M-10.1% | $865.0M+147.0% | -$1.8B-230.7% | $1.4B+742.5% | -$219.0M+96.2% | -$5.8B |
| EPS (Diluted) | — | -$3.04-300.0% | -$0.76+38.7% | -$1.24-39.3% | -$0.89+4.3% | -$0.93-1.1% | -$0.92+55.1% | -$2.05+52.0% | -$4.27+46.6% | -$8.00-484.6% | $2.08-11.9% | $2.36+146.5% | -$5.08-231.3% | $3.87+724.2% | -$0.62+96.5% | -$17.88 |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
RIG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $15.6B-19.3% | $19.4B-4.4% | $20.3B-0.9% | $20.4B-1.2% | $20.7B-5.2% | $21.8B-9.5% | $24.1B-6.1% | $25.7B+14.5% | $22.4B-16.7% | $26.9B+1.7% | $26.4B-7.5% | $28.6B-12.2% | $32.5B-5.0% | $34.3B-2.2% | $35.0B |
| Current Assets | $2.1B-15.1% | $2.5B+15.3% | $2.1B+5.9% | $2.0B-17.8% | $2.4B-10.8% | $2.7B-24.7% | $3.6B-7.8% | $3.9B-14.3% | $4.6B-9.7% | $5.1B+6.3% | $4.8B-17.8% | $5.8B-13.8% | $6.8B-21.7% | $8.6B+14.7% | $7.5B |
| Cash & Equivalents | $620.0M+10.7% | $560.0M-26.5% | $762.0M+11.6% | $683.0M-30.0% | $976.0M-15.4% | $1.2B-35.5% | $1.8B-17.1% | $2.2B-14.3% | $2.5B-17.5% | $3.1B+30.5% | $2.3B-11.2% | $2.6B-18.7% | $3.2B-36.8% | $5.1B+27.8% | $4.0B |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $597.0M-28.3% | $833.0M-38.0% | $1.3B | N/A | N/A | N/A | $2.0B |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $3.0B0.0% | $3.0B-7.1% | $3.2B |
| Total Liabilities | $7.5B-17.1% | $9.1B-7.6% | $9.8B+2.0% | $9.6B+1.8% | $9.5B-8.6% | $10.4B-15.3% | $12.2B-2.5% | $12.6B+29.4% | $9.7B-12.5% | $11.1B-5.6% | $11.7B-21.2% | $14.9B-6.0% | $15.9B-14.3% | $18.5B-4.6% | $19.4B |
| Current Liabilities | $1.3B-19.7% | $1.7B+19.0% | $1.4B-10.3% | $1.6B+19.6% | $1.3B-6.0% | $1.4B-19.6% | $1.7B+18.2% | $1.5B+6.5% | $1.4B-31.0% | $2.0B-25.5% | $2.7B-29.3% | $3.8B+6.0% | $3.6B-34.9% | $5.5B-1.2% | $5.5B |
| Long-Term Debt | $5.2B-15.9% | $6.2B-12.0% | $7.0B+6.3% | $6.6B-0.4% | $6.7B-8.8% | $7.3B-16.0% | $8.7B-9.5% | $9.6B+34.4% | $7.1B-7.7% | $7.7B+4.6% | $7.4B-18.0% | $9.0B-13.1% | $10.4B-6.4% | $11.1B-2.3% | $11.3B |
| Total Equity | $8.1B-21.2% | $10.3B-1.3% | $10.4B-3.5% | $10.8B-3.7% | $11.2B-2.0% | $11.4B-3.6% | $11.9B-9.5% | $13.1B+3.1% | $12.7B-19.6% | $15.8B+7.6% | $14.7B+7.5% | $13.7B-18.1% | $16.7B+6.0% | $15.7B+0.7% | $15.6B |
| Retained Earnings | -$7.5B-64.1% | -$4.5B-12.7% | -$4.0B-31.0% | -$3.1B-25.3% | -$2.5B-31.7% | -$1.9B-43.9% | -$1.3B-1835.8% | -$67.0M-103.5% | $1.9B-61.8% | $5.1B+18.2% | $4.3B+27.7% | $3.3B-36.4% | $5.3B+36.5% | $3.9B-7.8% | $4.2B |
Not reported in any period shown, so not listed: Inventory.
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.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $995.0M | $749.0M+67.6% | $447.0M+172.6% | $164.0M-63.4% | $448.0M-22.1% | $575.0M+44.5% | $398.0M+17.1% | $340.0M-39.1% | $558.0M-52.3% | $1.2B-40.9% | $2.0B-42.5% | $3.4B+55.2% | $2.2B+15.7% | $1.9B-29.2% | $2.7B+48.4% | $1.8B |
| Capital Expenditures | $91.0M | $123.0M-51.6% | $254.0M-40.5% | $427.0M-40.4% | $717.0M+244.7% | $208.0M-21.5% | $265.0M-31.5% | $387.0M+110.3% | $184.0M-63.0% | $497.0M-63.0% | $1.3B-32.8% | $2.0B-7.6% | $2.2B-3.3% | $2.2B+71.8% | $1.3B+33.8% | $974.0M |
| Free Cash Flow | $904.0M | $626.0M+224.4% | $193.0M+173.4% | -$263.0M+2.2% | -$269.0M-173.3% | $367.0M+175.9% | $133.0M+383.0% | -$47.0M-112.6% | $374.0M-44.4% | $673.0M+5.8% | $636.0M-56.0% | $1.4B+2525.5% | $55.0M+117.2% | -$320.0M-122.8% | $1.4B+65.1% | $851.0M |
| Investing Cash Flow | $22.0M | -$33.0M+78.1% | -$151.0M+64.3% | -$423.0M+44.1% | -$757.0M-224.9% | -$233.0M+9.3% | -$257.0M+4.1% | -$268.0M+66.4% | -$797.0M-35.8% | -$587.0M+55.3% | -$1.3B+32.0% | -$1.9B-5.7% | -$1.8B-10.3% | -$1.7B-326.2% | -$389.0M+79.5% | -$1.9B |
| Financing Cash Flow | -$994.0M | -$660.0M-88.6% | -$350.0M-233.1% | $263.0M+334.8% | -$112.0M+77.1% | -$490.0M+47.3% | -$930.0M-198.1% | -$312.0M-112.2% | -$147.0M+85.9% | -$1.0B-691.5% | $176.0M+109.7% | -$1.8B-80.9% | -$1.0B+53.5% | -$2.2B-79.0% | -$1.2B-263.8% | $734.0M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
RIG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.3%+1.7pp | 37.6%+7.7pp | 29.9%-4.9pp | 34.8%+1.2pp | 33.6%-2.9pp | 36.5%+5.8pp | 30.7%-9.7pp | 40.4%-12.9pp | 53.3%-1.0pp | 54.3% | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -58.9%-47.1pp | -11.8%-0.4pp | -11.5%-10.3pp | -1.2%+3.2pp | -4.4%+11.3pp | -15.6%+7.7pp | -23.4%+18.1pp | -41.4%+42.8pp | -84.3%-110.8pp | 26.6%+8.1pp | 18.5%+33.1pp | -14.7%-38.6pp | 24.0%+6.1pp | 17.9%+77.2pp | -59.3% |
| Net Margin | -73.5%-59.0pp | -14.5%+19.2pp | -33.7%-9.6pp | -24.1%-1.0pp | -23.2%-5.2pp | -18.0%+22.6pp | -40.6%+25.5pp | -66.1% | -105.2% | 18.7%+7.0pp | 11.7%+31.7pp | -20.0%-35.2pp | 15.2%+17.7pp | -2.5%+69.2pp | -71.7% |
| Return on Equity | -35.9%-31.0pp | -5.0%+4.2pp | -9.2%-3.4pp | -5.8%-0.5pp | -5.3%-0.3pp | -5.0%+5.6pp | -10.6%+4.6pp | -15.2%+9.4pp | -24.6%-29.5pp | 4.9%-1.0pp | 5.9%+19.3pp | -13.5%-21.9pp | 8.4%+9.8pp | -1.4%+35.4pp | -36.8% |
| Return on Assets | -18.6%-16.0pp | -2.6%+2.1pp | -4.7%-1.7pp | -3.0%-0.2pp | -2.9%-0.3pp | -2.6%+2.6pp | -5.2%+2.6pp | -7.8%+6.2pp | -14.0%-16.8pp | 2.9%-0.4pp | 3.3%+9.7pp | -6.4%-10.8pp | 4.3%+5.0pp | -0.6%+15.8pp | -16.4% |
| Current Ratio | 1.56+0.1x | 1.470.0x | 1.52+0.2x | 1.29-0.6x | 1.88-0.1x | 1.98-0.1x | 2.11-0.6x | 2.71-0.7x | 3.36+0.8x | 2.57+0.8x | 1.80+0.3x | 1.55-0.4x | 1.91+0.3x | 1.58+0.2x | 1.36 |
| Debt-to-Equity | 0.640.0x | 0.60-0.1x | 0.68+0.1x | 0.610.0x | 0.590.0x | 0.64-0.1x | 0.730.0x | 0.73+0.2x | 0.56+0.1x | 0.490.0x | 0.50-0.2x | 0.660.0x | 0.62-0.1x | 0.700.0x | 0.73 |
| FCF Margin | 15.8%+10.3pp | 5.5%+14.8pp | -9.3%+1.2pp | -10.4%-24.8pp | 14.4%+10.1pp | 4.2%+5.7pp | -1.5%-13.9pp | 12.4%-10.3pp | 22.6%+7.4pp | 15.3%-4.3pp | 19.6%+18.9pp | 0.6%+4.1pp | -3.5%-19.2pp | 15.7%+5.1pp | 10.6% |
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: Net Margin.
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Where Transocean Ranks
Frequently Asked Questions
What is Transocean's annual revenue?
Transocean (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's revenue growing?
Transocean (RIG) revenue grew by 12.5% year-over-year, from $3.5B to $4.0B in fiscal year 2025.
Is Transocean profitable?
No, Transocean (RIG) reported a net income of -$2.9B in fiscal year 2025, with a net profit margin of -73.5%.
What is Transocean's EBITDA?
Transocean (RIG) had EBITDA of -$1.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Transocean have?
As of fiscal year 2025, Transocean (RIG) had $620.0M in cash and equivalents against $5.2B in long-term debt.
What is Transocean's gross margin?
Transocean (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's operating margin?
Transocean (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's net profit margin?
Transocean (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's return on equity (ROE)?
Transocean (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's free cash flow?
Transocean (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's operating cash flow?
Transocean (RIG) generated $749.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Transocean's total assets?
Transocean (RIG) had $15.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Transocean's capital expenditures?
Transocean (RIG) invested $123.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Transocean's current ratio?
Transocean (RIG) had a current ratio of 1.56 as of fiscal year 2025, which is generally considered healthy.
What is Transocean's debt-to-equity ratio?
Transocean (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's return on assets (ROA)?
Transocean (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's Altman Z-Score?
Transocean (RIG) has an Altman Z-Score of -0.32, 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's Piotroski F-Score?
Transocean (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's earnings high quality?
Transocean (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 cover its interest payments?
Transocean (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?
Transocean (RIG) scores 46 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.