RIGNYSEDrilling Oil & Gas WellsFiscal year ends December 31
Transocean Ltd.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$5.89+0.27 (+4.80%)
Close on Oct 19, 2026
- Market cap
- $7.08B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
39.3%+2.8 pts over 5 years
Operating margin
-58.9%−43.3 pts over 5 years
Net margin
-73.5%−55.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +12.5% | +15.5% | +4.7% | -6.0% | |
| Gross profit | +17.7% | +20.3% | +6.2% | – | |
| Free cash flow | +224.4% | – | +36.3% | -8.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 5.1% | -4.9% | -31.7% | |
| Return on assets | 2.9% | -2.5% | -16.7% | |
| Current ratio | 2.57 | 1.98 | 1.56 | |
| Debt to equity | 0.54 | 0.68 | 0.70 | |
| Net debt to EBITDA | 2.52× | 21.69× | -3.00× | |
| Interest coverage | 2.7× | -0.9× | -4.2× | |
| Capex to revenue | 32.3% | 8.4% | 3.1% | |
| Diluted shares | 367M | 615M | 960M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Transocean generated $2.38B from operations and spent $1.73B on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$2.38B
Used
$1.73B
Capital expenditure$1.73B100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-73.5%
×Asset turnover0.23×
×Equity multiplier1.90×
=Return on equity, FY2025-31.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -73.5% | 0.23× | 1.90× | -31.7% |
| FY2024 | -14.5% | 0.18× | 1.91× | -4.9% |
| FY2023 | -33.7% | 0.14× | 1.92× | -9.0% |
| FY2022 | -24.1% | 0.13× | 1.87× | -5.6% |
| FY2021 | -23.2% | 0.12× | 1.88× | -5.2% |
| FY2020 | -18.0% | 0.14× | 1.97× | -4.9% |
| FY2019 | -40.6% | 0.12× | 1.99× | -10.1% |
| FY2018 | -66.1% | 0.13× | 1.86× | -15.5% |
| FY2017 | -105.2% | 0.12× | 1.73× | -21.9% |
| FY2016 | 18.7% | 0.16× | 1.75× | 5.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$2.92B
- Cash generatingOperating cash flow above zero$749.00M
- Return on assets improvedROA up on the prior year-2.5% → -15.0%
- Earnings backed by cashOperating cash flow above net income$749.00M vs -$2.92B
- Less leverageLong-term debt to assets fell32.0% → 33.3%
- Better liquidityCurrent ratio rose1.47 → 1.56
- No dilutionShare count did not rise925M → 960M
- Gross margin improvedGross margin up on the prior year37.60% → 39.32%
- More efficientAsset turnover rose0.17 → 0.20