RIG Stock - Transocean Ltd.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $3.52B | $2.83B | $2.58B | $2.56B | $3.15B |
| Gross Profit | $1.35B | $872.00M | $907.00M | $871.00M | $1.17B |
| Gross Margin | 38.3% | 30.8% | 35.2% | 34.1% | 37.2% |
| Operating Income | $-417,000,000 | $-325,000,000 | $-31,000,000 | $-112,000,000 | $-493,000,000 |
| Net Income | $-512,000,000 | $-954,000,000 | $-621,000,000 | $-591,000,000 | $-568,000,000 |
| Net Margin | -14.5% | -33.7% | -24.1% | -23.1% | -18.0% |
| EPS | $-0.60 | $-1.24 | $-0.89 | $-0.93 | $-0.92 |
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 14, 2022, the company had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deep water and 10 harsh environment floaters. It serves integrated energy companies, government-owned or government-controlled oil companies, and other independent energy companies. The company was founded in 1926 and is based in Steinhausen, Switzerland.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 10th 2025 | JP Morgan | Downgrade | Underweight | - |
| January 15th 2025 | Evercore ISI | Downgrade | In-line | $5← $6 |
| December 18th 2024 | Barclays | Upgrade | Overweight | $4.5 |
| December 6th 2024 | JP Morgan | Upgrade | Neutral | $5 |
| October 15th 2024 | The Benchmark Company | Downgrade | Hold | - |
| September 12th 2024 | Citigroup | Downgrade | Neutral | - |
| September 3rd 2024 | DNB Markets | Upgrade | Buy | - |
| April 8th 2024 | Susquehanna | Upgrade | Positive | $9← $5.5 |
| November 28th 2023 | CapitalOne | Initiation | Equal Weight | $8 |
| July 5th 2023 | Citigroup | Upgrade | Buy | $9.5← $6.5 |
| March 22nd 2023 | Compass Point | Upgrade | Buy | $7.5 |
| February 16th 2023 | Barclays | Downgrade | Equal Weight | $7 |
| January 19th 2023 | The Benchmark Company | Initiation | Buy | $7.5 |
| October 6th 2022 | Barclays | Upgrade | Overweight | $5← $3.5 |
| September 6th 2022 | BTIG Research | Upgrade | Buy | $8 |
Earnings History & Surprises
RIGEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 27, 2026 | — | — | — | — |
Q1 2026 | Feb 16, 2026 | $0.09 | — | — | — |
Q4 2025 | Oct 29, 2025 | $0.04 | $0.06 | +50.0% | ✓ BEAT |
Q3 2025 | Aug 4, 2025 | $-0.01 | $-1.06 | -10463.1% | ✗ MISS |
Q2 2025 | Apr 28, 2025 | $-0.12 | $-0.10 | +16.7% | ✓ BEAT |
Q1 2025 | Feb 17, 2025 | $0.01 | $-0.09 | -1000.0% | ✗ MISS |
Q4 2024 | Oct 30, 2024 | $-0.26 | $-0.52 | -100.0% | ✗ MISS |
Q3 2024 | Jul 31, 2024 | $-0.08 | $-0.15 | -87.5% | ✗ MISS |
Q2 2024 | Apr 29, 2024 | $-0.13 | $-0.03 | +76.9% | ✓ BEAT |
Q1 2024 | Feb 19, 2024 | $-0.22 | $-0.09 | +59.1% | ✓ BEAT |
Q4 2023 | Oct 30, 2023 | $-0.22 | $-0.36 | -63.6% | ✗ MISS |
Q3 2023 | Jul 31, 2023 | $-0.12 | $-0.15 | -25.0% | ✗ MISS |
Q2 2023 | May 1, 2023 | $-0.20 | $-0.38 | -90.0% | ✗ MISS |
Q1 2023 | Feb 21, 2023 | $-0.19 | $-0.49 | -157.9% | ✗ MISS |
Q4 2022 | Nov 2, 2022 | $-0.15 | $-0.06 | +60.0% | ✓ BEAT |
Q3 2022 | Aug 1, 2022 | $-0.11 | $-0.10 | +9.1% | ✓ BEAT |
Q2 2022 | May 2, 2022 | $-0.22 | $-0.28 | -27.3% | ✗ MISS |
Q1 2022 | Feb 22, 2022 | $-0.10 | $-0.19 | -90.0% | ✗ MISS |
Q4 2021 | Nov 1, 2021 | $-0.16 | $-0.19 | -18.8% | ✗ MISS |
Q3 2021 | Aug 2, 2021 | $-0.15 | $-0.18 | -20.0% | ✗ MISS |
Latest News
Citigroup Maintains Neutral on Transocean, Raises Price Target to $4.5
➖ NeutralJP Morgan Downgrades Transocean to Underweight
📉 NegativeTransocean Secures $130M Six-Well Deepwater Skyros Contract In Australia, Potential To Extend Operations Through 2030
📈 PositiveTransocean shares are trading higher after the Form 4 filings showed its directors Perestroika and Mohn Frederik Wilhelm purchased 1.50 million shares at an average price of $4.02.
📈 PositiveShares of broader energy stocks are trading lower amid an overall market downturn as investors assess September jobs data, which could put a December rate cut into question.
📉 NegativeCitigroup Maintains Neutral on Transocean, Raises Price Target to $4.25
➖ NeutralBarclays Maintains Overweight on Transocean, Raises Price Target to $4.5
📈 PositiveTransocean Q3 Adj. EPS $0.06 Beats $0.03 Estimate, Sales $1.028B Beat $1.009B Estimate
📈 PositiveTransocean Provides Quarterly Fleet Status Report; Deepwater Atlas Customer Exercised A 365-Day Option In The U.S. Gulf At A Dayrate Of $635,000; Deepwater Mykonos Customer Exercised A 30-Day Option In Brazil; The Aggregate Incremental Backlog Associated With These Fixtures Is ~$243M. As Of October 15, 2025, The Company's Total Backlog Is ~$6.7B
📈 PositiveTransocean Secures ~$243M In New Contracts For Ultra-Deepwater Drillships With bp And Petrobras
📈 PositiveTransocean Announces Private Offering Of $500M Senior Priority Guaranteed Notes Due 2032 Through Its Wholly Owned Subsidiary, Transocean International Limited
📈 PositiveTransocean shares are trading lower after the company priced an upsized public offering of 125 million shares at $3.05 per share.
📉 NegativeReported Earlier, Transocean Prices Upsized Public Offering Of 125M Shares At $3.05 Per Share, Gross Proceeds Approximately $381.25M
➖ NeutralTransocean shares are trading lower after the company announced an offering of 100 million shares at $0.10 per share.
📉 NegativeTransocean Announces Public Offering Of 100M Shares Of Its Common Stock And Plans To Grant Underwriters 30-Day Option To Purchase Up To 15M More Shares
📉 NegativeTransocean Intends To Dispose Of, By Sale To A Third Party For Recycling Or Alternative Use, Multiple Rigs; Sees Non-Cash Charge ~$1.9B Associated With Impairment
📉 NegativeFrequently Asked Questions about RIG
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