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RIG · NYSE · Oil & Gas Drilling

Transocean

Operates ultra-deepwater drillships and harsh-environment semisubmersibles for offshore oil and gas wells.

$5.81

After-hours close+0.01 (+0.16%)

At close$5.80(+1.05%)

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Profile

Transocean Ltd.RIGEnergy

Provides offshore contract drilling for oil and gas operators, earning dayrates by supplying mobile rigs, equipment, and crews. A single operating segment centers on ultra-deepwater drillships and harsh-environment semisubmersibles, with results tied to contract demand, utilization, and operating performance.

Provides offshore contract drilling through a single operating segment, supplying ultra-deepwater drillships and harsh-environment semisubmersibles, related equipment, and crews to oil and gas operators. The fleet supports exploration and development wells in technically demanding basins worldwide, with activity across the Americas, West Africa, India, and the Norwegian North Sea.

High-specification floaters, dynamic-positioning systems, and dual-activity drilling capabilities support long-duration work far from port and in rough conditions. Revenue depends on contract awards, dayrates, utilization, and operating performance; idle or stacked rigs can require substantial spending before returning to service. A small group of large operators contributes much of revenue. The proposed Valaris combination remains subject to shareholder and regulatory approvals.

Company facts

CEOKeelan I. Adamson

ListedMay 28, 1993

ExchangeNYSE

HeadquartersSteinhausen, Switzerland

CountrySwitzerland

Employees5,220

CIK0001451505

ISINCH0048265513

Key statistics

Market cap$5.90B

EPS (ttm)−$1.83

P/E (ttm)−3.17

ROE-20.2%

P/B0.7761

P/S1.43

Dividend yield—

Beta0.69vs XLE 1.38

Year to date +36.8% · Average volume (30d) 42.7M

Analysts

Price target, next 12 months$7.00+20.7%Median of 64 analysts · vs the Aug 28 close

ConsensusBuy25 of 64 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $5.80

High$7.00+20.7%

Median$7.00+20.7%

Low$7.00+20.7%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Prior target	Target
Aug 12, 2026	Barclays	Reiterate		Overweight	$6	$7
Jul 8, 2026	Susquehanna	Reiterate		Positive	$7.50	$7
May 7, 2026	Barclays	Upgrade	Equal Weight	Overweight
Apr 15, 2026	Morgan Stanley	Reiterate		Equal Weight	$4.50	$7
Feb 23, 2026	Susquehanna	Reiterate		Positive	$5	$7.50

Earnings

EPS

Estimate$0.02

ReportedDue Nov 4, 2026

Revenue

Estimate$935.3M

ReportedDue Nov 4, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 5, 2026Q2 FY26	$0.01	$0.03	+205.5%	$956.6M	$966.0M	+1.0%	+0.39%
May 4, 2026Q1 FY26	$0.07	−$0.03	−142.9%	$1.02B	$1.08B	+5.5%	−9.16%
Feb 19, 2026Q4 FY25	$0.09	$0.02	−77.8%	$1.04B	$1.04B	+0.8%	+2.52%
Oct 29, 2025Q3 FY25	$0.04	$0.06	+50.0%	$1.03B	$1.03B	−0.4%	+2.09%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$906.0M	$988.0M	$1.03B	$1.04B	$1.08B	$966.0M
Gross profit	$730.0M	$813.0M	$867.0M	$896.0M	$938.0M	$358.0M
Operating income	$62.0M	$165.0M	$237.0M	$241.0M	$283.0M	$152.0M
Net income	−$79.0M	−$938.0M	−$1.92B	$25.0M	$71.0M	$170.0M
Diluted EPS	−$0.11	−$1.06	−$2.06	$0.03	$0.06	$0.14
Gross margin	80.6%	82.3%	84.3%	85.9%	86.8%	37.1%
Operating margin	6.8%	16.7%	23.1%	23.1%	26.2%	15.7%

Fiscal years (4-quarter sums)FY21 $2.56B · FY22 $2.58B · FY23 $2.83B · FY24 $3.52B · FY25 $3.97B

Revenue by geography · Q2 FY26

United States$344.0M · 36%

Norway$177.0M · 18%

Other Geographical$171.0M · 18%

Brazil$167.0M · 17%

Australia$107.0M · 11%

Balance sheet, Jun 30, 2026Cash & short-term investments $509.0M · Total debt $5.12B · Total assets $15.17B · Shareholders' equity $8.37B

Dividends

No dividends on record.

Ownership

Institutions 99.57%Insiders —

Shares outstanding 1.02B · Float 916.71M · 90.2% free float

Insiders — no current Form 4 position.

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Frederik W. Mohn	96.92M	8.80%	13D	Feb 11, 2026
BlackRock, Inc.	91.93M	9.04%	13F	Aug 7, 2026
Dimensional Fund Advisors LP	51.01M	5.02%	13F	Aug 11, 2026
Vanguard Portfolio Management LLC	49.30M	4.85%	13F	Aug 13, 2026
Two Sigma Investments, LP	46.21M	4.55%	13F	Aug 14, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Jul 2, 2026	Chad C. Deaton	director	+35,000	$4.95
May 21, 2026	Brady K. Long	officer: EVP & Chief Legal Officer	−81,741	$7.45
Mar 4, 2026	Roderick James Mackenzie	officer: EVP, Chief Commercial Officer	−78,370	$6.36
Jan 27, 2026	Keelan Adamson	director, officer: PRESIDENT AND CEO	−58,687	$5.00
Jan 26, 2026	Keelan Adamson	director, officer: PRESIDENT AND CEO	−22,846	$5.00