Transocean (RIG) Financials

$6.38 +0.22 (+3.48%)

Closing price 05/8/2026 03:59 PM Eastern

Extended Trading

$6.40 +0.02 (+0.31%)

As of 05/8/2026 07:59 PM Eastern

Annual Income Statements for Transocean

This table shows Transocean's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	865	778	-3,127	-1,996	-1,255	-567	-592	-621	-954	-512	-2,915
Consolidated Net Income / (Loss)	897	827	-3,097	-2,003	-1,257	-568	-591	-621	-954	-512	-2,915
Net Income / (Loss) Continuing Operations	895	827	-3,097	-2,003	-1,257	-568	-591	-621	-954	-512	-2,915
Total Pre-Tax Income	1,015	934	-3,003	-1,775	-1,198	-541	-470	-562	-941	-523	-2,948
Total Operating Income	1,365	1,106	-2,505	-1,251	-721	-493	-112	-31	-325	-417	-2,337
Total Gross Profit	4,431	2,260	1,584	1,219	948	1,152	859	896	846	1,325	1,559
Total Revenue	7,386	4,161	2,973	3,018	3,088	3,152	2,556	2,575	2,832	3,524	3,965
Operating Revenue	7,386	4,161	2,973	3,018	3,088	3,152	2,556	2,575	2,832	3,524	3,965
Total Cost of Revenue	2,955	1,901	1,389	1,799	2,140	2,000	1,697	1,679	1,986	2,199	2,406
Operating Cost of Revenue	2,955	1,901	1,389	1,799	2,140	2,000	1,697	1,679	1,986	2,199	2,406
Total Operating Expenses	3,066	1,154	4,089	2,470	1,669	1,645	971	927	1,171	1,742	3,896
Selling, General & Admin Expense	192	172	156	188	193	183	167	182	187	214	195
Depreciation Expense	963	893	832	818	855	781	742	735	744	739	659
Impairment Charge	1,875	93	1,498	1,464	609	597	0.00	0.00	57	772	3,049
Other Special Charges / (Income)	36	-4.00	1,603	0.00	12	84	62	10	183	17	-7.00
Total Other Income / (Expense), net	-350	-172	-498	-524	-477	-48	-358	-531	-616	-106	-611
Interest Expense	409	261	546	623	701	42	396	553	677	201	552
Interest & Investment Income	22	20	43	53	43	21	15	27	52	50	40
Other Income / (Expense), net	37	69	5.00	46	181	-27	23	-5.00	9.00	45	-99
Income Tax Expense	120	107	94	228	59	27	121	59	13	-11	-33
Basic Earnings per Share	$2.36	$2.08	($8.00)	($4.27)	($2.05)	($0.92)	($0.93)	($0.89)	($1.24)	($0.60)	($3.04)
Weighted Average Basic Shares Outstanding	363M	367M	391M	468M	612M	615M	637M	699M	768M	850M	960M
Diluted Earnings per Share	$2.36	$2.08	($8.00)	($4.27)	($2.05)	($0.92)	($0.93)	($0.89)	($1.24)	($0.76)	($3.04)
Weighted Average Diluted Shares Outstanding	363M	367M	391M	468M	612M	615M	637M	699M	768M	925M	960M
Weighted Average Basic & Diluted Shares Outstanding	400.50M	374M	390.90M	468M	612M	615M	656.38M	726.26M	809.03M	878.89M	1.10B

This table shows Transocean's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-220	-104	98	-123	-494	7.00	-79	-938	-1,923	25	71
Consolidated Net Income / (Loss)	-220	-104	98	-123	-494	7.00	-79	-938	-1,923	25	71
Net Income / (Loss) Continuing Operations	-220	-104	98	-123	-494	7.00	-79	-938	-1,923	25	71
Total Pre-Tax Income	-263	-83	-93	33	-525	62	-40	-1,093	-1,897	82	17
Total Operating Income	-55	-71	-3.00	-59	-485	130	64	-964	-1,677	240	287
Total Gross Profit	189	172	240	327	385	373	288	389	444	438	475
Total Revenue	713	741	763	861	948	952	906	988	1,028	1,043	1,081
Operating Revenue	713	741	763	861	948	952	906	988	1,028	1,043	1,081
Total Cost of Revenue	524	569	523	534	563	579	618	599	584	605	606
Operating Cost of Revenue	524	569	523	534	563	579	618	599	584	605	606
Total Operating Expenses	244	243	243	386	870	243	224	1,353	2,121	198	188
Selling, General & Admin Expense	44	50	52	59	47	56	50	49	46	50	49
Depreciation Expense	192	184	185	184	190	180	176	175	161	147	143
Other Special Charges / (Income)	3.00	10	6.00	0.00	4.00	7.00	-2.00	-7.00	1.00	1.00	-4.00
Total Other Income / (Expense), net	-208	-12	-90	92	-40	-68	-104	-129	-220	-158	-270
Interest Expense	232	-4.00	117	-66	59	91	116	112	154	170	287
Interest & Investment Income	12	10	15	14	11	10	8.00	10	12	10	10
Other Income / (Expense), net	12	-26	12	12	8.00	13	4.00	-27	-78	2.00	7.00
Income Tax Expense	-43	21	-191	156	-31	55	39	-155	26	57	-54
Basic Earnings per Share	($0.28)	($0.10)	$0.12	($0.15)	($0.56)	($0.01)	($0.09)	($1.06)	($2.00)	$0.11	$0.06
Weighted Average Basic Shares Outstanding	774M	768M	819M	824M	879M	850M	883M	888M	961M	960M	1.11B
Diluted Earnings per Share	($0.28)	($0.10)	$0.11	($0.15)	($0.58)	($0.14)	($0.11)	($1.06)	($2.00)	$0.13	$0.06
Weighted Average Diluted Shares Outstanding	774M	768M	955M	824M	954M	925M	958M	888M	961M	960M	1.12B
Weighted Average Basic & Diluted Shares Outstanding	809.03M	809.03M	819.58M	875.47M	875.80M	878.89M	883.26M	943.12M	1.10B	1.10B	1.12B

This table details how cash moves in and out of Transocean's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-296	843	-458	-386	-240	-789	-148	-421	4.00	-54	56
Net Cash From Operating Activities	3,445	1,980	1,170	558	340	398	575	448	164	447	749
Net Cash From Continuing Operating Activities	3,445	1,980	1,170	558	340	398	575	448	164	447	749
Net Income / (Loss) Continuing Operations	897	827	-3,097	-2,003	-1,257	-568	-591	-621	-954	-512	-2,915
Consolidated Net Income / (Loss)	897	827	-3,097	-2,003	-1,257	-568	-591	-621	-954	-512	-2,915
Depreciation Expense	963	893	832	818	855	781	742	735	744	739	659
Amortization Expense	-	-	-	112	187	215	245	150	103	57	48
Non-Cash Adjustments To Reconcile Net Income	2,025	-3.00	3,285	1,518	608	324	128	75	412	661	3,187
Changes in Operating Assets and Liabilities, net	-440	263	150	113	-53	-354	51	109	-141	-498	-230
Net Cash From Investing Activities	-1,932	-1,313	-587	-797	-268	-257	-233	-757	-423	-151	-33
Net Cash From Continuing Investing Activities	-1,932	-1,313	-587	-797	-268	-257	-233	-757	-423	-151	-33
Purchase of Property, Plant & Equipment	-2,001	-1,344	-497	-184	-387	-265	-208	-717	-427	-254	-123
Purchase of Investments	-	-	-450	-280	-77	-21	-34	-47	-13	-3.00	0.00
Sale of Property, Plant & Equipment	54	30	350	43	70	24	9.00	7.00	10	101	84
Divestitures	-	-	-	-	-	-	0.00	0.00	7.00	5.00	6.00
Net Cash From Financing Activities	-1,809	176	-1,041	-147	-312	-930	-490	-112	263	-350	-660
Net Cash From Continuing Financing Activities	-1,809	176	-1,041	-147	-312	-930	-490	-112	263	-350	-660
Repayment of Debt	-1,509	-2,295	-2,287	-2,135	-1,325	-1,637	-606	-554	-1,717	-2,103	-1,556
Issuance of Debt	-	2,401	1,144	2,054	1,056	743	0.00	175	1,983	1,770	492
Issuance of Common Equity	-	-	-	-	0.00	0.00	158	275	0.00	0.00	421
Other Financing Activities, net	110	100	102	-66	-43	-36	-42	-8.00	-3.00	-17	-17

This table details how cash moves in and out of Transocean's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-226	187	-279	159	-75	141	-250	81	478	-253	-382
Net Cash From Operating Activities	-44	98	-86	133	194	206	26	128	246	349	164
Net Cash From Continuing Operating Activities	-44	98	-86	133	194	206	26	128	246	349	164
Net Income / (Loss) Continuing Operations	-220	-104	98	-123	-494	7.00	-79	-938	-1,923	25	71
Consolidated Net Income / (Loss)	-220	-104	98	-123	-494	7.00	-79	-938	-1,923	25	71
Depreciation Expense	192	184	185	184	190	180	176	175	161	147	143
Amortization Expense	21	20	17	13	13	14	13	12	11	12	10
Non-Cash Adjustments To Reconcile Net Income	18	45	18	15	621	15	-28	1,164	2,005	8.00	-28
Changes in Operating Assets and Liabilities, net	-55	-47	-404	44	-136	-10	-56	-285	-8.00	157	-32
Net Cash From Investing Activities	-40	-220	-41	-73	-10	-27	-58	-12	23	14	10
Net Cash From Continuing Investing Activities	-40	-220	-41	-73	-10	-27	-58	-12	23	14	10
Purchase of Property, Plant & Equipment	-50	-220	-83	-84	-58	-29	-60	-24	-11	-28	-28
Sale of Property, Plant & Equipment	6.00	-	44	7.00	48	2.00	2.00	8.00	34	40	38
Net Cash From Financing Activities	-142	309	-152	99	-259	-38	-218	-35	209	-616	-556
Net Cash From Continuing Financing Activities	-142	309	-152	99	-259	-38	-218	-35	209	-616	-556
Repayment of Debt	-139	-10	-151	-1,664	-258	-30	-210	-30	-210	-1,106	-556
Other Financing Activities, net	-2.00	-	-1.00	-4.00	-1.00	-11	-8.00	-5.00	-2.00	-2.00	0.00

This table presents Transocean's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	26,431	26,889	22,410	25,665	24,105	21,804	20,681	20,436	20,254	19,371	15,642
Total Current Assets	4,798	5,098	4,606	3,948	3,640	2,740	2,444	2,008	2,126	2,452	2,081
Cash & Equivalents	2,339	3,052	2,519	2,160	1,790	1,154	976	683	762	560	620
Restricted Cash	340	466	466	551	558	406	436	308	233	381	377
Accounts Receivable	1,343	833	596	604	654	583	492	485	512	564	540
Inventories, net	627	561	418	474	479	434	392	388	426	439	378
Other Current Assets	92	121	157	159	159	163	148	144	144	165	142
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	49	343	24
Plant, Property, & Equipment, net	20,809	21,093	17,402	20,408	18,847	17,667	17,098	17,469	16,941	15,831	12,577
Plant, Property & Equipment, gross	26,265	27,372	22,693	25,811	24,281	23,040	23,152	24,217	23,875	22,417	17,451
Accumulated Depreciation	5,456	6,279	5,291	5,403	5,434	5,373	6,054	6,748	6,934	6,586	4,874
Total Noncurrent Assets	824	698	402	1,309	1,618	1,397	1,139	959	1,187	1,088	984
Noncurrent Deferred & Refundable Income Taxes	411	298	47	66	20	9.00	7.00	13	44	45	61
Other Noncurrent Operating Assets	413	400	355	448	990	995	959	890	1,139	1,043	923
Total Liabilities & Shareholders' Equity	26,431	26,889	22,410	25,665	24,105	21,804	20,681	20,436	20,254	19,371	15,642
Total Liabilities	11,426	11,056	9,641	12,551	12,238	10,369	9,475	9,644	9,838	9,086	7,534
Total Current Liabilities	2,665	1,985	1,369	1,458	1,724	1,386	1,303	1,558	1,397	1,663	1,336
Short-Term Debt	1,093	724	250	373	568	505	513	719	370	686	445
Accounts Payable	455	206	201	269	311	194	228	281	323	255	242
Current Deferred & Payable Income Tax Liabilities	55	95	79	70	64	28	17	19	23	31	22
Other Current Liabilities	1,062	960	839	746	781	659	545	539	681	691	627
Total Noncurrent Liabilities	8,761	9,071	8,272	11,093	10,514	8,983	8,172	8,086	8,441	7,423	6,198
Long-Term Debt	7,397	7,740	7,146	9,605	8,693	7,302	6,657	6,628	7,043	6,195	5,212
Noncurrent Deferred & Payable Income Tax Liabilities	229	178	44	64	266	315	447	493	540	499	404
Other Noncurrent Operating Liabilities	1,135	1,153	1,082	1,424	1,555	1,366	1,068	965	858	729	582
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	15,000	15,805	12,711	13,114	11,867	11,435	11,206	10,792	10,416	10,285	8,108
Total Preferred & Common Equity	14,690	15,802	12,707	13,107	11,862	11,432	11,205	10,791	10,415	10,284	8,108
Total Common Equity	14,690	15,802	12,707	13,107	11,862	11,432	11,205	10,791	10,415	10,284	8,108
Common Stock	10,929	11,029	11,068	13,453	13,483	13,561	13,747	14,055	14,625	14,967	15,714
Retained Earnings	4,278	5,056	1,929	-67	-1,297	-1,866	-2,458	-3,079	-4,033	-4,545	-7,460
Accumulated Other Comprehensive Income / (Loss)	-277	-283	-290	-279	-324	-263	-84	-185	-177	-138	-146

This table presents Transocean's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	20,621	20,194	20,213	20,008	19,937	20,325	19,510	19,019	17,811	16,174	15,151
Total Current Assets	2,469	2,031	2,235	1,967	1,871	2,135	2,343	2,204	2,000	2,417	1,766
Cash & Equivalents	954	747	821	594	446	475	435	263	377	833	330
Restricted Cash	387	208	213	214	270	400	365	428	395	417	285
Accounts Receivable	599	499	523	532	585	607	594	551	577	574	638
Inventories, net	398	390	397	410	437	440	425	453	427	382	383
Other Current Assets	131	187	281	217	133	213	179	165	181	163	129
Other Current Nonoperating Assets	-	-	-	-	-	-	345	344	43	48	1.00
Plant, Property, & Equipment, net	17,158	17,120	16,920	16,913	16,855	17,083	15,988	15,714	14,752	12,688	12,459
Plant, Property & Equipment, gross	23,728	23,996	23,527	23,674	23,948	24,066	22,412	22,460	20,957	17,428	17,465
Accumulated Depreciation	6,570	6,876	6,607	6,761	7,093	6,983	6,424	6,746	6,205	4,740	5,006
Total Noncurrent Assets	994	1,043	1,058	1,128	1,211	1,107	1,179	1,101	1,059	1,069	926
Noncurrent Deferred & Refundable Income Taxes	11	17	45	26	45	30	165	50	48	95	47
Other Noncurrent Operating Assets	908	988	994	1,091	1,166	1,077	1,014	1,051	1,011	974	879
Total Liabilities & Shareholders' Equity	20,621	20,194	20,213	20,008	19,937	20,325	19,510	19,019	17,811	16,174	15,151
Total Liabilities	9,390	9,869	9,808	9,690	9,415	9,616	9,282	8,808	8,457	8,096	6,959
Total Current Liabilities	1,505	1,053	1,141	1,181	1,385	1,573	1,431	1,656	1,582	2,235	1,148
Short-Term Debt	750	283	293	320	463	526	457	712	666	1,372	329
Accounts Payable	275	246	285	316	301	296	255	273	253	232	229
Current Deferred & Payable Income Tax Liabilities	4.00	28	16	20	2.00	22	13	24	8.00	5.00	28
Other Current Liabilities	476	496	547	525	619	729	706	647	655	626	562
Total Noncurrent Liabilities	7,885	8,816	8,667	8,509	8,030	8,043	7,851	7,152	6,875	5,861	5,811
Long-Term Debt	6,451	7,342	7,154	7,066	6,802	6,775	6,503	5,936	5,885	4,849	4,945
Noncurrent Deferred & Payable Income Tax Liabilities	471	533	552	507	377	470	570	519	345	403	317
Other Noncurrent Operating Liabilities	963	941	961	936	851	798	778	697	645	609	549
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	11,231	10,325	10,405	10,318	10,522	10,709	10,228	10,211	9,354	8,078	8,192
Total Preferred & Common Equity	11,230	10,324	10,404	10,317	10,521	10,708	10,227	10,210	9,353	8,078	8,192
Total Common Equity	11,230	10,324	10,404	10,317	10,521	10,708	10,227	10,210	9,353	8,078	8,192
Common Stock	14,050	14,064	14,309	14,442	14,635	14,946	14,958	14,975	15,056	15,706	15,722
Retained Earnings	-2,729	-3,544	-3,709	-3,929	-3,935	-4,058	-4,552	-4,624	-5,562	-7,485	-7,389
Accumulated Other Comprehensive Income / (Loss)	-91	-196	-196	-196	-179	-180	-179	-141	-141	-143	-141

This table displays calculated financial ratios and metrics derived from Transocean's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-19.59%	-43.66%	-28.55%	1.51%	2.32%	2.07%	-18.91%	0.74%	9.98%	24.44%	12.51%
EBITDA Growth	1,392.35%	-12.56%	-180.66%	83.51%	282.55%	-5.18%	88.66%	-5.46%	-37.46%	-20.15%	-507.78%
EBIT Growth	206.86%	-16.19%	-312.77%	51.80%	55.19%	3.70%	82.88%	59.55%	-777.78%	-17.72%	-554.84%
NOPAT Growth	227.65%	-18.64%	-279.06%	50.06%	42.37%	31.62%	77.28%	72.32%	-948.39%	-28.31%	-460.43%
Net Income Growth	147.21%	-7.80%	-474.49%	35.32%	37.24%	54.81%	-4.05%	-5.08%	-53.62%	46.33%	-469.34%
EPS Growth	146.46%	-11.86%	-484.62%	46.63%	51.99%	55.12%	-1.09%	4.30%	-39.33%	38.71%	-300.00%
Operating Cash Flow Growth	55.18%	-42.53%	-40.91%	-52.31%	-39.07%	17.06%	44.47%	-22.09%	-63.39%	172.56%	67.56%
Free Cash Flow Firm Growth	-7.04%	-38.69%	125.87%	-297.20%	124.22%	-31.32%	-15.05%	-132.16%	165.87%	351.00%	145.80%
Invested Capital Growth	-2.13%	-0.18%	-19.49%	21.82%	-7.86%	-5.85%	-4.06%	1.08%	-2.12%	-5.38%	-19.76%
Revenue Q/Q Growth	-5.10%	-17.41%	-10.40%	4.10%	0.00%	0.00%	-2.63%	-0.58%	5.01%	6.37%	2.35%
EBITDA Q/Q Growth	114.03%	-15.21%	-29.81%	33.41%	41.81%	-20.00%	0.56%	-4.50%	-11.06%	118.56%	3.57%
EBIT Q/Q Growth	1,769.33%	-24.63%	-15.79%	0.50%	19.64%	-27.14%	-9.88%	-111.76%	-11.27%	39.22%	3.91%
NOPAT Q/Q Growth	12,181.84%	-31.74%	-12.33%	-3.30%	-7.29%	7.50%	-8.74%	-158.33%	-2.85%	32.52%	4.50%
Net Income Q/Q Growth	282.69%	-34.26%	-13.11%	-7.57%	0.00%	0.00%	-59.73%	-16.95%	20.50%	17.82%	0.61%
EPS Q/Q Growth	277.44%	-37.72%	-12.84%	-3.89%	15.29%	9.80%	-82.35%	-11.25%	23.93%	-5.56%	8.16%
Operating Cash Flow Q/Q Growth	12.91%	-11.53%	-28.13%	-1.06%	-21.11%	49.06%	-13.92%	-1.54%	-32.79%	31.86%	23.60%
Free Cash Flow Firm Q/Q Growth	-10.29%	-16.61%	1.93%	-95.65%	218.47%	52.13%	-19.64%	-619.44%	617.18%	45.36%	13.02%
Invested Capital Q/Q Growth	1.29%	0.06%	-1.32%	10.65%	-0.50%	-1.80%	-1.02%	0.33%	-0.66%	-1.00%	-1.98%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	59.99%	54.31%	53.28%	40.39%	30.70%	36.55%	33.61%	34.80%	29.87%	37.60%	39.32%
EBITDA Margin	32.02%	49.70%	-56.10%	-9.11%	16.26%	15.10%	35.13%	32.97%	18.75%	12.03%	-43.61%
Operating Margin	18.48%	26.58%	-84.26%	-41.45%	-23.35%	-15.64%	-4.38%	-1.20%	-11.48%	-11.83%	-58.94%
EBIT Margin	18.98%	28.24%	-84.09%	-39.93%	-17.49%	-16.50%	-3.48%	-1.40%	-11.16%	-10.56%	-61.44%
Profit (Net Income) Margin	12.14%	19.88%	-104.17%	-66.37%	-40.71%	-18.02%	-23.12%	-24.12%	-33.69%	-14.53%	-73.52%
Tax Burden Percent	88.37%	88.54%	103.13%	112.85%	104.92%	104.99%	125.74%	110.50%	101.38%	97.90%	98.88%
Interest Burden Percent	72.40%	79.49%	120.12%	147.30%	221.85%	104.04%	528.09%	1,561.11%	297.78%	140.59%	121.02%
Effective Tax Rate	11.82%	11.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	5.72%	4.71%	-9.35%	-4.72%	-2.58%	-1.89%	-0.45%	-0.13%	-1.34%	-1.79%	-11.43%
ROIC Less NNEP Spread (ROIC-NNEP)	1.03%	1.88%	-39.52%	-24.80%	-13.19%	-5.28%	-8.99%	-10.02%	-12.76%	-5.47%	-36.43%
Return on Net Nonoperating Assets (RNNOA)	0.47%	0.65%	-12.31%	-10.76%	-7.49%	-2.98%	-4.77%	-5.52%	-7.66%	-3.16%	-20.27%
Return on Equity (ROE)	6.19%	5.36%	-21.66%	-15.48%	-10.06%	-4.88%	-5.22%	-5.65%	-9.00%	-4.95%	-31.70%
Cash Return on Invested Capital (CROIC)	7.88%	4.89%	12.24%	-24.40%	5.60%	4.13%	3.69%	-1.21%	0.80%	3.74%	10.49%
Operating Return on Assets (OROA)	5.10%	4.41%	-10.14%	-5.01%	-2.17%	-2.27%	-0.42%	-0.18%	-1.55%	-1.88%	-13.91%
Return on Assets (ROA)	3.26%	3.10%	-12.56%	-8.33%	-5.05%	-2.47%	-2.78%	-3.02%	-4.69%	-2.58%	-16.65%
Return on Common Equity (ROCE)	6.05%	5.30%	-21.59%	-15.44%	-10.06%	-4.87%	-5.22%	-5.65%	-9.00%	-4.95%	-31.70%
Return on Equity Simple (ROE_SIMPLE)	6.11%	5.23%	-24.37%	-15.28%	-10.60%	-4.97%	-5.27%	-5.75%	-9.16%	-4.98%	0.00%
Net Operating Profit after Tax (NOPAT)	1,204	979	-1,754	-876	-505	-345	-78	-22	-228	-292	-1,636
NOPAT Margin	16.30%	23.54%	-58.98%	-29.02%	-16.34%	-10.95%	-3.07%	-0.84%	-8.03%	-8.28%	-41.26%
Net Nonoperating Expense Percent (NNEP)	4.69%	2.83%	30.17%	20.08%	10.61%	3.39%	8.54%	9.89%	11.42%	3.68%	25.00%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-0.12%	-1.28%	-1.70%	-11.88%
Cost of Revenue to Revenue	40.01%	45.69%	46.72%	59.61%	69.30%	63.45%	66.39%	65.20%	70.13%	62.40%	60.68%
SG&A Expenses to Revenue	2.60%	4.13%	5.25%	6.23%	6.25%	5.81%	6.53%	7.07%	6.60%	6.07%	4.92%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	41.51%	27.73%	137.54%	81.84%	54.05%	52.19%	37.99%	36.00%	41.35%	49.43%	98.26%
Earnings before Interest and Taxes (EBIT)	1,402	1,175	-2,500	-1,205	-540	-520	-89	-36	-316	-372	-2,436
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,365	2,068	-1,668	-275	502	476	898	849	531	424	-1,729
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.31	0.34	0.33	0.24	0.35	0.12	0.16	0.31	0.49	0.32	0.56
Price to Tangible Book Value (P/TBV)	0.31	0.34	0.33	0.26	0.37	0.13	0.16	0.31	0.49	0.32	0.56
Price to Revenue (P/Rev)	0.61	1.29	1.41	1.06	1.36	0.45	0.71	1.28	1.81	0.93	1.15
Price to Earnings (P/E)	5.21	6.92	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	13.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	19.21%	14.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.51	0.50	0.49	0.51	0.59	0.43	0.45	0.56	0.69	0.58	0.72
Enterprise Value to Revenue (EV/Rev)	1.44	2.49	2.76	3.47	3.60	2.43	2.96	3.75	4.08	2.62	2.32
Enterprise Value to EBITDA (EV/EBITDA)	4.49	5.01	0.00	0.00	22.17	16.12	8.43	11.36	21.76	21.76	0.00
Enterprise Value to EBIT (EV/EBIT)	7.58	8.82	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	8.83	10.58	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	3.09	5.23	7.01	18.78	32.73	19.27	13.16	21.54	70.47	20.64	12.30
Enterprise Value to Free Cash Flow (EV/FCFF)	6.41	10.20	3.57	0.00	10.15	10.19	11.83	0.00	85.29	15.10	6.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.57	0.53	0.58	0.76	0.78	0.68	0.64	0.68	0.71	0.67	0.70
Long-Term Debt to Equity	0.49	0.49	0.56	0.73	0.73	0.64	0.59	0.61	0.68	0.60	0.64
Financial Leverage	0.45	0.35	0.31	0.43	0.57	0.56	0.53	0.55	0.60	0.58	0.56
Leverage Ratio	1.90	1.73	1.72	1.86	1.99	1.97	1.88	1.87	1.92	1.91	1.90
Compound Leverage Factor	1.37	1.37	2.07	2.74	4.42	2.05	9.91	29.18	5.71	2.69	2.30
Debt to Total Capital	36.14%	34.84%	36.68%	43.21%	43.83%	40.57%	39.02%	40.50%	41.58%	40.09%	41.10%
Short-Term Debt to Total Capital	4.65%	2.98%	1.24%	1.62%	2.69%	2.62%	2.79%	3.96%	2.08%	4.00%	3.23%
Long-Term Debt to Total Capital	31.48%	31.86%	35.44%	41.59%	41.14%	37.95%	36.23%	36.54%	39.50%	36.09%	37.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.34%	0.13%	0.31%	0.03%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.00%
Common Equity to Total Capital	62.52%	65.04%	63.02%	56.76%	56.14%	59.41%	60.98%	59.49%	58.42%	59.91%	58.90%
Debt to EBITDA	3.59	4.09	-4.43	-36.28	18.45	16.40	7.98	8.65	13.96	16.23	-3.27
Net Debt to EBITDA	2.46	2.39	-2.37	-26.43	13.77	13.12	6.41	7.49	12.09	14.01	-2.70
Long-Term Debt to EBITDA	3.13	3.74	-4.28	-34.93	17.32	15.34	7.41	7.81	13.26	14.61	-3.01
Debt to NOPAT	7.05	8.64	-4.22	-11.39	-18.35	-22.62	-91.45	-338.57	-32.58	-23.57	-3.46
Net Debt to NOPAT	4.83	5.05	-2.26	-8.30	-13.70	-18.10	-73.44	-292.90	-28.21	-20.35	-2.85
Long-Term Debt to NOPAT	6.15	7.90	-4.08	-10.97	-17.22	-21.16	-84.91	-305.44	-30.96	-21.22	-3.19
Altman Z-Score	1.01	0.99	0.32	0.23	0.28	0.10	0.12	0.14	0.17	0.06	-0.51
Noncontrolling Interest Sharing Ratio	2.20%	1.12%	0.33%	0.27%	0.05%	0.03%	0.02%	0.01%	0.01%	0.01%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.80	2.57	3.36	2.71	2.11	1.98	1.88	1.29	1.52	1.47	1.56
Quick Ratio	1.40	1.99	2.60	1.90	1.42	1.25	1.13	0.75	0.91	0.68	0.87
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,658	1,016	2,296	-4,527	1,096	753	640	-206	136	611	1,502
Operating Cash Flow to CapEx	176.94%	150.68%	795.92%	395.74%	107.26%	165.15%	288.94%	63.10%	39.33%	292.16%	1,920.51%
Free Cash Flow to Firm to Interest Expense	4.05	3.89	4.20	-7.27	1.56	17.93	1.62	-0.37	0.20	3.04	2.72
Operating Cash Flow to Interest Expense	8.42	7.59	2.14	0.90	0.49	9.48	1.45	0.81	0.24	2.22	1.36
Operating Cash Flow Less CapEx to Interest Expense	3.66	2.55	1.87	0.67	0.03	3.74	0.95	-0.47	-0.37	1.46	1.29
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.27	0.16	0.12	0.13	0.12	0.14	0.12	0.13	0.14	0.18	0.23
Accounts Receivable Turnover	4.27	3.82	4.16	5.03	4.91	5.10	4.76	5.27	5.68	6.55	7.18
Inventory Turnover	4.09	3.20	2.84	4.03	4.49	4.38	4.11	4.31	4.88	5.08	5.89
Fixed Asset Turnover	0.35	0.20	0.15	0.16	0.16	0.17	0.15	0.15	0.16	0.22	0.28
Accounts Payable Turnover	4.77	5.75	6.83	7.66	7.38	7.92	8.04	6.60	6.58	7.61	9.68
Days Sales Outstanding (DSO)	85.57	95.44	87.72	72.56	74.35	71.62	76.76	69.24	64.25	55.72	50.81
Days Inventory Outstanding (DIO)	89.24	114.05	128.63	90.49	81.27	83.31	88.83	84.78	74.80	71.79	61.97
Days Payable Outstanding (DPO)	76.52	63.46	53.48	47.68	49.46	46.08	45.38	55.33	55.50	47.97	37.70
Cash Conversion Cycle (CCC)	98.29	146.03	162.88	115.37	106.16	108.85	120.20	98.70	83.55	79.54	75.09
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	20,816	20,779	16,730	20,381	18,780	17,682	16,964	17,148	16,785	15,882	12,744
Invested Capital Turnover	0.35	0.20	0.16	0.16	0.16	0.17	0.15	0.15	0.17	0.22	0.28
Increase / (Decrease) in Invested Capital	-454	-37	-4,049	3,651	-1,601	-1,098	-718	184	-363	-903	-3,138
Enterprise Value (EV)	10,629	10,364	8,201	10,480	11,128	7,671	7,568	9,649	11,556	9,225	9,209
Market Capitalization	4,503	5,387	4,178	3,206	4,210	1,421	1,809	3,292	5,137	3,284	4,549
Book Value per Share	$40.39	$43.24	$32.48	$28.38	$19.39	$18.59	$17.09	$14.95	$12.87	$11.74	$7.36
Tangible Book Value per Share	$40.39	$43.24	$32.48	$26.65	$18.39	$17.95	$16.83	$14.87	$12.87	$11.74	$7.36
Total Capital	23,495	24,297	20,165	23,092	21,128	19,242	18,376	18,139	17,829	17,166	13,765
Total Debt	8,490	8,464	7,396	9,978	9,261	7,807	7,170	7,347	7,413	6,881	5,657
Total Long-Term Debt	7,397	7,740	7,146	9,605	8,693	7,302	6,657	6,628	7,043	6,195	5,212
Net Debt	5,811	4,946	3,961	7,267	6,913	6,247	5,758	6,356	6,418	5,940	4,660
Capital Expenditures (CapEx)	1,947	1,314	147	141	317	241	199	710	417	153	39
Debt-free, Cash-free Net Working Capital (DFCFNWC)	547	319	52	152	136	299	242	178	104	534	193
Debt-free Net Working Capital (DFNWC)	3,226	3,837	3,487	2,863	2,484	1,859	1,654	1,169	1,099	1,475	1,190
Net Working Capital (NWC)	2,133	3,113	3,237	2,490	1,916	1,354	1,141	450	729	789	745
Net Nonoperating Expense (NNE)	307	152	1,344	1,127	752	223	513	599	727	220	1,279
Net Nonoperating Obligations (NNO)	5,811	4,946	3,961	7,267	6,913	6,247	5,758	6,356	6,369	5,597	4,636
Total Depreciation and Amortization (D&A)	963	893	832	930	1,042	996	987	885	847	796	707
Debt-free, Cash-free Net Working Capital to Revenue	7.41%	7.67%	1.75%	5.04%	4.40%	9.49%	9.47%	6.91%	3.67%	15.15%	4.87%
Debt-free Net Working Capital to Revenue	43.68%	92.21%	117.29%	94.86%	80.44%	58.98%	64.71%	45.40%	38.81%	41.86%	30.01%
Net Working Capital to Revenue	28.88%	74.81%	108.88%	82.51%	62.05%	42.96%	44.64%	17.48%	25.74%	22.39%	18.79%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.16	$2.08	($8.00)	($4.27)	($2.05)	($0.92)	($0.93)	($0.89)	($1.24)	($0.60)	($3.04)
Adjusted Weighted Average Basic Shares Outstanding	363M	367M	391M	468M	612M	616.03M	637M	699M	768M	850M	960M
Adjusted Diluted Earnings per Share	$2.16	$2.08	($8.00)	($4.27)	($2.05)	($0.92)	($0.93)	($0.89)	($1.24)	($0.76)	($3.04)
Adjusted Weighted Average Diluted Shares Outstanding	363M	367M	391M	468M	612M	616.03M	637M	699M	768M	925M	960M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($0.92)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	364.11M	389.60M	458.91M	610.06M	612.57M	615M	656.38M	726.26M	809.03M	878.89M	1.10B
Normalized Net Operating Profit after Tax (NOPAT)	2,889	1,058	417	149	-70	132	-35	-15	-60	260	494
Normalized NOPAT Margin	39.11%	25.43%	14.03%	4.94%	-2.27%	4.18%	-1.37%	-0.57%	-2.10%	7.39%	12.45%
Pre Tax Income Margin	13.74%	22.45%	-101.01%	-58.81%	-38.80%	-17.16%	-18.39%	-21.83%	-33.23%	-14.84%	-74.35%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.43	4.50	-4.58	-1.93	-0.77	-12.38	-0.22	-0.07	-0.47	-1.85	-4.41
NOPAT to Interest Expense	2.94	3.75	-3.21	-1.41	-0.72	-8.22	-0.20	-0.04	-0.34	-1.45	-2.96
EBIT Less CapEx to Interest Expense	-1.33	-0.53	-4.85	-2.16	-1.22	-18.12	-0.73	-1.35	-1.08	-2.61	-4.48
NOPAT Less CapEx to Interest Expense	-1.82	-1.28	-3.48	-1.63	-1.17	-13.95	-0.70	-1.32	-0.95	-2.21	-3.03
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	45.71%	3.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	45.71%	3.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Transocean's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1,102,848,748.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1,102,848,748.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.06
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.18%	22.28%	17.57%	18.11%	32.96%	28.48%	18.74%	14.75%	8.44%	9.56%	19.32%
EBITDA Growth	-36.57%	-38.15%	245.90%	-22.28%	-261.18%	214.95%	21.80%	-636.00%	-477.74%	18.99%	73.93%
EBIT Growth	-191.49%	-49.23%	105.92%	-95.83%	-1,009.30%	247.42%	655.56%	-2,008.51%	-267.92%	69.23%	332.35%
NOPAT Growth	-203.77%	-14.52%	98.09%	847.99%	-781.82%	129.53%	2,233.33%	-406.85%	-245.77%	398.53%	2,575.55%
Net Income Growth	-685.71%	70.29%	121.08%	25.45%	-124.55%	106.73%	-180.61%	-662.60%	-289.27%	257.14%	189.87%
EPS Growth	-600.00%	79.59%	117.19%	31.82%	-107.14%	-40.00%	-200.00%	-606.67%	-244.83%	192.86%	154.55%
Operating Cash Flow Growth	-119.13%	-44.94%	-82.98%	-15.29%	540.91%	110.20%	130.23%	-3.76%	26.80%	69.42%	530.77%
Free Cash Flow Firm Growth	83.90%	237.77%	58.66%	-124.92%	228.12%	192.91%	1,754.03%	1,511.25%	263.80%	249.92%	223.01%
Invested Capital Growth	-1.14%	-2.12%	0.45%	1.88%	-5.05%	-5.38%	-7.30%	-11.93%	-18.96%	-19.76%	-18.79%
Revenue Q/Q Growth	-2.19%	3.93%	2.97%	12.84%	10.10%	0.42%	-4.83%	9.05%	4.05%	1.46%	3.64%
EBITDA Q/Q Growth	-11.92%	-37.06%	45.52%	-28.91%	-282.67%	222.99%	-23.74%	-412.84%	-96.89%	125.33%	11.47%
EBIT Q/Q Growth	-79.17%	-125.58%	109.28%	-622.22%	-914.89%	129.98%	-52.45%	-1,557.35%	-77.09%	113.79%	21.49%
NOPAT Q/Q Growth	-30.95%	-29.09%	95.77%	10,571.86%	-254.38%	104.32%	205.23%	-1,606.25%	-73.96%	106.23%	1,538.15%
Net Income Q/Q Growth	-33.33%	52.73%	194.23%	-225.51%	-301.63%	101.42%	-1,228.57%	-1,087.34%	-105.01%	101.30%	184.00%
EPS Q/Q Growth	-27.27%	64.29%	210.00%	-236.36%	-286.67%	75.86%	21.43%	-863.64%	-88.68%	106.50%	-53.85%
Operating Cash Flow Q/Q Growth	-128.03%	322.73%	-187.76%	254.65%	45.86%	6.19%	-87.38%	392.31%	92.19%	41.87%	-53.01%
Free Cash Flow Firm Q/Q Growth	-59.83%	100.19%	-129.55%	-24.32%	628.89%	78.71%	40.77%	6.07%	36.34%	71.90%	29.94%
Invested Capital Q/Q Growth	0.46%	-0.66%	1.41%	0.37%	-6.37%	-1.00%	-0.37%	-4.64%	-13.84%	-1.98%	0.83%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.51%	23.21%	31.45%	37.98%	40.61%	39.18%	31.79%	39.37%	43.19%	41.99%	43.94%
EBITDA Margin	23.84%	14.44%	27.65%	17.42%	-28.90%	35.40%	28.37%	-81.38%	-153.99%	38.45%	41.35%
Operating Margin	-7.71%	-9.58%	-0.39%	-6.85%	-51.16%	13.66%	7.06%	-97.57%	-163.13%	23.01%	26.55%
EBIT Margin	-6.03%	-13.09%	1.18%	-5.46%	-50.32%	15.02%	7.51%	-100.30%	-170.72%	23.20%	27.20%
Profit (Net Income) Margin	-30.86%	-14.04%	12.84%	-14.29%	-52.11%	0.74%	-8.72%	-94.94%	-187.06%	2.40%	6.57%
Tax Burden Percent	83.65%	125.30%	-105.38%	-372.73%	94.10%	11.29%	197.50%	85.82%	101.37%	30.49%	417.65%
Interest Burden Percent	611.63%	85.57%	-1,033.33%	-70.21%	110.06%	43.36%	-58.82%	110.29%	108.09%	33.88%	5.78%
Effective Tax Rate	0.00%	0.00%	0.00%	472.73%	0.00%	88.71%	0.00%	0.00%	0.00%	69.51%	-317.65%
Return on Invested Capital (ROIC)	-0.86%	-1.12%	-0.05%	4.63%	-7.20%	0.33%	1.10%	-16.08%	-30.46%	1.94%	32.02%
ROIC Less NNEP Spread (ROIC-NNEP)	-3.78%	-1.97%	1.47%	-0.71%	-9.70%	0.20%	-0.93%	-20.41%	-44.42%	1.00%	10.06%
Return on Net Nonoperating Assets (RNNOA)	-2.18%	-1.18%	0.93%	-0.43%	-5.85%	0.12%	-0.55%	-12.37%	-26.05%	0.56%	5.62%
Return on Equity (ROE)	-3.04%	-2.30%	0.88%	4.20%	-13.05%	0.45%	0.55%	-28.46%	-56.52%	2.50%	37.63%
Cash Return on Invested Capital (CROIC)	-0.15%	0.80%	-1.15%	-2.64%	2.55%	3.74%	6.09%	7.24%	9.15%	10.49%	10.42%
Operating Return on Assets (OROA)	-0.80%	-1.82%	0.17%	-0.83%	-8.44%	2.67%	1.41%	-19.96%	-37.07%	5.26%	6.59%
Return on Assets (ROA)	-4.10%	-1.95%	1.89%	-2.17%	-8.74%	0.13%	-1.64%	-18.89%	-40.62%	0.54%	1.59%
Return on Common Equity (ROCE)	-3.04%	-2.30%	0.88%	4.20%	-13.05%	0.45%	0.55%	-28.45%	-56.51%	2.50%	37.63%
Return on Equity Simple (ROE_SIMPLE)	-11.63%	0.00%	-3.72%	-3.26%	-6.09%	0.00%	-6.75%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-39	-50	-2.10	220	-340	15	45	-675	-1,174	73	1,199
NOPAT Margin	-5.40%	-6.71%	-0.28%	25.54%	-35.81%	1.54%	4.94%	-68.30%	-114.19%	7.02%	110.88%
Net Nonoperating Expense Percent (NNEP)	2.92%	0.85%	-1.51%	5.34%	2.49%	0.13%	2.04%	4.33%	13.95%	0.94%	21.96%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.28%	-	-	-	0.09%	0.27%	-4.24%	-8.21%	0.53%	8.90%
Cost of Revenue to Revenue	73.49%	76.79%	68.55%	62.02%	59.39%	60.82%	68.21%	60.63%	56.81%	58.01%	56.06%
SG&A Expenses to Revenue	6.17%	6.75%	6.82%	6.85%	4.96%	5.88%	5.52%	4.96%	4.47%	4.79%	4.53%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	34.22%	32.79%	31.85%	44.83%	91.77%	25.53%	24.72%	136.94%	206.32%	18.98%	17.39%
Earnings before Interest and Taxes (EBIT)	-43	-97	9.00	-47	-477	143	68	-991	-1,755	242	294
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	170	107	211	150	-274	337	257	-804	-1,583	401	447
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.61	0.49	0.48	0.41	0.36	0.32	0.27	0.24	0.36	0.56	0.89
Price to Tangible Book Value (P/TBV)	0.61	0.49	0.48	0.41	0.36	0.32	0.27	0.24	0.36	0.56	0.89
Price to Revenue (P/Rev)	2.33	1.81	1.72	1.42	1.12	0.93	0.76	0.60	0.76	1.15	1.77
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.76	0.69	0.68	0.63	0.62	0.58	0.55	0.53	0.61	0.72	0.93
Enterprise Value to Revenue (EV/Rev)	4.77	4.08	3.95	3.51	2.98	2.62	2.38	2.13	2.04	2.32	2.89
Enterprise Value to EBITDA (EV/EBITDA)	21.56	21.76	17.08	16.95	50.94	21.76	18.60	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	52.76	70.47	93.05	107.05	29.15	20.64	15.64	14.56	13.06	12.30	13.50
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	85.29	0.00	0.00	23.51	15.10	8.73	6.92	5.95	6.13	8.01
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.72	0.71	0.69	0.68	0.68	0.67	0.65	0.70	0.77	0.70	0.64
Long-Term Debt to Equity	0.68	0.68	0.65	0.63	0.64	0.60	0.58	0.63	0.60	0.64	0.60
Financial Leverage	0.58	0.60	0.63	0.61	0.60	0.58	0.59	0.61	0.59	0.56	0.56
Leverage Ratio	1.89	1.92	1.93	1.92	1.92	1.91	1.88	1.90	1.95	1.90	1.86
Compound Leverage Factor	11.53	1.64	-19.89	-1.35	2.12	0.83	-1.11	2.10	2.11	0.65	0.11
Debt to Total Capital	41.72%	41.58%	40.84%	40.54%	40.49%	40.09%	39.43%	41.19%	43.51%	41.10%	39.17%
Short-Term Debt to Total Capital	1.81%	2.08%	2.60%	2.92%	2.66%	4.00%	4.22%	4.19%	9.60%	3.23%	2.44%
Long-Term Debt to Total Capital	39.91%	39.50%	38.24%	37.62%	37.83%	36.09%	35.21%	37.00%	33.91%	37.86%	36.72%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%
Common Equity to Total Capital	58.28%	58.42%	59.15%	59.46%	59.50%	59.91%	60.56%	58.81%	56.49%	58.90%	60.83%
Debt to EBITDA	12.37	13.96	10.67	11.44	35.88	16.23	14.14	-13.54	-3.47	-3.27	-3.43
Net Debt to EBITDA	11.02	12.09	9.62	10.07	31.75	14.01	12.67	-11.94	-2.77	-2.70	-3.03
Long-Term Debt to EBITDA	11.84	13.26	9.99	10.62	33.52	14.61	12.63	-12.16	-2.70	-3.01	-3.21
Debt to NOPAT	-33.39	-32.58	-60.69	-55.48	-16.09	-23.57	-27.13	-7.46	-3.63	-3.46	-3.56
Net Debt to NOPAT	-29.74	-28.21	-54.71	-48.83	-14.24	-20.35	-24.31	-6.58	-2.90	-2.85	-3.15
Long-Term Debt to NOPAT	-31.94	-30.96	-56.83	-51.48	-15.03	-21.22	-24.23	-6.70	-2.83	-3.19	-3.34
Altman Z-Score	0.29	0.20	0.23	0.17	0.06	0.14	0.09	-0.22	-0.53	0.06	0.33
Noncontrolling Interest Sharing Ratio	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.67	1.52	1.35	1.36	1.64	1.47	1.33	1.26	1.08	1.56	1.54
Quick Ratio	0.95	0.91	0.74	0.69	0.72	0.68	0.49	0.60	0.63	0.87	0.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	157	313	-78	-97	514	918	1,292	1,370	1,868	3,211	4,173
Operating Cash Flow to CapEx	-100.00%	44.55%	-220.51%	172.73%	1,940.00%	762.96%	44.83%	800.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.67	0.00	-0.67	0.00	8.70	10.08	11.14	12.23	12.13	18.89	14.54
Operating Cash Flow to Interest Expense	-0.19	0.00	-0.74	0.00	3.29	2.26	0.22	1.14	1.60	2.05	0.57
Operating Cash Flow Less CapEx to Interest Expense	-0.38	0.00	-1.07	0.00	3.12	1.97	-0.28	1.00	1.75	2.12	0.61
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.13	0.14	0.15	0.15	0.17	0.18	0.19	0.20	0.22	0.23	0.24
Accounts Receivable Turnover	4.77	5.68	5.44	5.45	5.88	6.55	6.46	6.41	6.63	7.18	6.96
Inventory Turnover	4.55	4.88	5.08	5.14	5.24	5.08	5.16	5.44	5.90	5.89	5.73
Fixed Asset Turnover	0.16	0.16	0.17	0.18	0.20	0.22	0.23	0.24	0.27	0.28	0.29
Accounts Payable Turnover	6.23	6.58	7.68	7.40	7.67	7.61	7.99	8.59	9.77	9.68	9.54
Days Sales Outstanding (DSO)	76.53	64.25	67.15	67.00	62.03	55.72	56.54	56.95	55.02	50.81	52.41
Days Inventory Outstanding (DIO)	80.14	74.80	71.87	71.05	69.62	71.79	70.80	67.07	61.88	61.97	63.73
Days Payable Outstanding (DPO)	58.62	55.50	47.54	49.32	47.61	47.97	45.66	42.47	37.34	37.70	38.27
Cash Conversion Cycle (CCC)	98.06	83.55	91.49	88.73	84.04	79.54	81.68	81.55	79.56	75.09	77.88
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	16,896	16,785	17,071	17,135	16,043	15,882	15,824	15,090	13,001	12,744	12,850
Invested Capital Turnover	0.16	0.17	0.17	0.18	0.20	0.22	0.22	0.24	0.27	0.28	0.29
Increase / (Decrease) in Invested Capital	-195	-363	76	317	-853	-903	-1,247	-2,045	-3,042	-3,138	-2,974
Enterprise Value (EV)	12,873	11,556	11,631	10,812	9,882	9,225	8,744	8,068	7,914	9,209	11,971
Market Capitalization	6,294	5,137	5,081	4,385	3,721	3,284	2,786	2,288	2,943	4,549	7,312
Book Value per Share	$13.46	$12.87	$12.85	$13.07	$11.68	$11.74	$11.62	$10.59	$8.57	$7.36	$7.43
Tangible Book Value per Share	$13.44	$12.87	$12.85	$13.07	$11.68	$11.74	$11.62	$10.59	$8.57	$7.36	$7.43
Total Capital	17,704	17,829	17,787	18,010	17,188	17,166	16,859	15,905	14,299	13,765	13,466
Total Debt	7,386	7,413	7,265	7,301	6,960	6,881	6,648	6,551	6,221	5,657	5,274
Total Long-Term Debt	7,066	7,043	6,802	6,775	6,503	6,195	5,936	5,885	4,849	5,212	4,945
Net Debt	6,578	6,418	6,549	6,426	6,160	5,940	5,957	5,779	4,971	4,660	4,659
Capital Expenditures (CapEx)	44	220	39	77	10	27	58	16	-23	-12	-10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	298	104	233	213	569	534	569	312	304	193	332
Debt-free Net Working Capital (DFNWC)	1,106	1,099	949	1,088	1,369	1,475	1,260	1,084	1,554	1,190	947
Net Working Capital (NWC)	786	729	486	562	912	789	548	418	182	745	618
Net Nonoperating Expense (NNE)	182	54	-100	343	155	7.68	124	263	749	48	1,128
Net Nonoperating Obligations (NNO)	6,578	6,369	6,549	6,426	5,815	5,597	5,613	5,736	4,923	4,636	4,658
Total Depreciation and Amortization (D&A)	213	204	202	197	203	194	189	187	172	159	153
Debt-free, Cash-free Net Working Capital to Revenue	11.05%	3.67%	7.91%	6.92%	17.17%	15.15%	15.52%	8.22%	7.85%	4.87%	8.02%
Debt-free Net Working Capital to Revenue	41.01%	38.81%	32.21%	35.35%	41.32%	41.86%	34.36%	28.57%	40.11%	30.01%	22.87%
Net Working Capital to Revenue	29.14%	25.74%	16.50%	18.26%	27.53%	22.39%	14.94%	11.02%	4.70%	18.79%	14.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.28)	($0.10)	$0.12	($0.15)	($0.56)	($0.01)	($0.09)	($1.06)	($2.00)	$0.11	$0.06
Adjusted Weighted Average Basic Shares Outstanding	774M	768M	819M	824M	879M	850M	883M	888M	961M	960M	1.11B
Adjusted Diluted Earnings per Share	($0.28)	($0.10)	$0.11	($0.15)	($0.58)	($0.14)	($0.11)	($1.06)	($2.00)	$0.13	$0.06
Adjusted Weighted Average Diluted Shares Outstanding	774M	768M	955M	824M	954M	925M	958M	888M	961M	960M	1.12B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	809.03M	809.03M	819.58M	875.47M	875.80M	878.89M	883.26M	943.12M	1.10B	1.10B	1.12B
Normalized Net Operating Profit after Tax (NOPAT)	-33	-43	2.10	59	104	96	43	116	166	169	198
Normalized NOPAT Margin	-4.61%	-5.76%	0.28%	6.83%	10.93%	10.07%	4.79%	11.69%	16.14%	16.17%	18.33%
Pre Tax Income Margin	-36.89%	-11.20%	-12.19%	3.83%	-55.38%	6.51%	-4.42%	-110.63%	-184.53%	7.86%	1.57%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.19	0.00	0.08	0.00	-8.08	1.57	0.59	-8.85	-11.40	1.42	1.02
NOPAT to Interest Expense	-0.17	0.00	-0.02	0.00	-5.75	0.16	0.39	-6.03	-7.62	0.43	4.18
EBIT Less CapEx to Interest Expense	-0.38	0.00	-0.26	0.00	-8.25	1.27	0.09	-8.99	-11.25	1.49	1.06
NOPAT Less CapEx to Interest Expense	-0.36	0.00	-0.35	0.00	-5.92	-0.14	-0.11	-6.17	-7.47	0.50	4.21
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Transocean Ltd. (NYSE: RIG) has shown notable progress in key financial metrics over the last four years, with revenue and cash flow improving as offshore drilling activity recovered. Below are the most important trends drawn from quarterly income statements, cash flow statements, and balance sheets from 2022 through 2025.

Revenue growth: Operating Revenue rose to about $1.043 billion in Q4 2025, up from roughly $606 million in Q4 2022. This represents roughly a 70% increase, signaling stronger activity and pricing in the offshore drilling market.
Profitability improving: Net income attributable to common shareholders turned positive in late 2024 and remained solid in 2025 (Q4 2025 net income of about $25 million vs. prior losses in 2022–2023).
Earnings per share improving: Basic EPS was $0.11 and Diluted EPS $0.13 in Q4 2025, marking a move back into positive territory after years of negative or tepid profits.
Operating cash flow trend: Net cash from continuing operating activities was $349 million in Q4 2025, up from $206 million in Q4 2024 and higher levels in prior quarters, indicating improving cash generation from core operations.
Liquidity and balance sheet position: As of the 2025 Q3 balance sheet, cash & equivalents stood around $833 million with restricted cash about $417 million (roughly $1.25 billion total liquidity), and total equity near $8.08 billion on total assets of about $16.2 billion, suggesting solid liquidity and a balanced capital structure for a cyclical business.
Significant impairment charges in some quarters: Notable impairment expense in 2025 Q3 (approximately $1.913 billion) and other impairment/restatement activity in prior years, illustrating cyclical asset impairment risk in offshore drilling.
Debt dynamics remain cyclical: Long-term debt varied across 2022–2025 (roughly $4.8–$5.9 billion at mid-year 2025), with Q4 2025 showing debt repayments (~$1.106 billion) and new debt issuance (~$492 million). This indicates deleveraging but ongoing use of debt in a volatile market.

05/09/26 05:15 AM ETAI Generated. May Contain Errors.

Transocean Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Transocean's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Transocean's net income appears to be on an upward trend, with a most recent value of -$2.92 billion in 2025, falling from $897 million in 2015. The previous period was -$512 million in 2024. View Transocean's forecast to see where analysts expect Transocean to go next.

Transocean's total operating income in 2025 was -$2.34 billion, based on the following breakdown:

Total Gross Profit: $1.56 billion
Total Operating Expenses: $3.90 billion

Over the last 10 years, Transocean's total revenue changed from $7.39 billion in 2015 to $3.97 billion in 2025, a change of -46.3%.

Transocean's total liabilities were at $7.53 billion at the end of 2025, a 17.1% decrease from 2024, and a 34.1% decrease since 2015.

In the past 10 years, Transocean's cash and equivalents has ranged from $560 million in 2024 to $3.05 billion in 2016, and is currently $620 million as of their latest financial filing in 2025.

Over the last 10 years, Transocean's book value per share changed from 40.39 in 2015 to 7.36 in 2025, a change of -81.8%.

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Financial statements for NYSE:RIG last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Transocean (RIG) Financials

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Transocean (RIG) Financials

Annual Income Statements for Transocean

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Quarterly Cash Flow Statements for Transocean

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Quarterly Metrics And Ratios for Transocean

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Key Financial Trends

Transocean Financials - Frequently Asked Questions

When does Transocean's fiscal year end?

How has Transocean's net income changed over the last 10 years?

What is Transocean's operating income?

How has Transocean's revenue changed over the last 10 years?

How much debt does Transocean have?

How much cash does Transocean have?

How has Transocean's book value per share changed over the last 10 years?

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