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RIGTransocean Ltd.
$5.47$5.6B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
RIG logo

Transocean Ltd.

RIG
NYSE · Oil & Gas Drilling
$5.47
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$5.56B
P/E-1.8x
52W High$7.66
Volume33.72M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Deleveraging and Cash Recovery Offset Impairment-Driven Losses

Transocean is executing a deliberate deleveraging strategy, reducing total debt from $7.3B in 2024Q1 to $5.1B in 2026Q2, while free cash flow has swung from -$169M to +$348M over the same period, signaling improved operational cash generation. However, the com...

GrowthMixed
ProfitabilityStable
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

RIG price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

6/12 Beats

EPS beat 6 of last 12 quarters

02

Valuation risk

-108% Peers

P/E is 108% below peer median

03

Market leadership

RS 61 · Avg

Average momentum (RS Rating: 61)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Nov 5
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth stalled at -2.2% in 2026Q2, while gross margin swung from 86.8% to 37.1% due to a one-time COGS spike, yet operating margin remained positive at 15.7%.

Analyst Consensus+28.0% target
Buy(64 analysts)
25 Buy25 Hold14 Sell

The Bull Case

Upside Catalysts

Contract awards growth

Transocean has secured significant new contracts, including a $158 million award for an ultra-deepwater drillship and a $425 million deal, indicating strong demand for its services.

Undervaluation potential

Analysts highlight persistent undervaluation of RIG, with a forward P/E of 18.15, suggesting room for stock price appreciation.

Fleet capabilities

Transocean operates a modern fleet of 27 offshore drilling units, including 20 ultra-deepwater and 7 harsh environment floaters, positioning it as a leader in deepwater drilling.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
RIG+29.01%
S&P 500 (^GSPC)+12.39%
1-Year Return
RIG+54.52%
S&P 500 (^GSPC)+15.77%
3-Year Return
RIG-34.73%
S&P 500 (^GSPC)+73.49%
5-Year Return
RIG+57.18%
S&P 500 (^GSPC)+61.77%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-1.8x
Forward P/E
24.1x
EV/EBITDA20th %ile
7.5x
FCF YieldCash Flow
11.3%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-1.8x
N/A
N/A
EV/EBITDA
7.5x
10.0x
20th· Low
Price/FCF
8.9x
6.3x
67th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$12.40+126.7%
Base (Fair)$21.24+276.6%
Bull$42.53+677.5%
$12.40 Bear$21.24 Base$42.53 Bull
Current Market Price: $5.47
Trades at a 74.2% discount to Base DCF ($21.24)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$3.96B+12.5% YoY
Net income
-$2.92B-469.3% YoY
Free cash flow
$626M+224.4% YoY
Operating margin
17.8%+7.2 pts YoY
ROIC (TTM)3.6%
Avg ROIC 5Y-
ROE (TTM)-31.7%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate6/12 (50%)
Revenue Beat Rate5/12 (42%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 5, 2026
$0.15+1427.5%
vs $0.01
$966M+1.0%
vs $957M
Q2 2026
May 4, 2026
-$0.03-142.9%
vs $0.07
$1.1B+5.5%
vs $1.0B
Q1 2026
Feb 19, 2026
$0.02-77.8%
vs $0.09
$1.0B+0.8%
vs $1.0B
Q4 2025
Oct 29, 2025
$0.06+50.0%
vs $0.04
$1.0B-0.4%
vs $1.0B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Zacks Investment Research·1d ago
Why Transocean (RIG) is a Top Growth Stock for the Long-Term

Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.

Zacks Investment Research·Sep 17, 2026
Transocean Boosts Backlog With New Deepwater Conqueror Deal

RIG secures an $80 million Equatorial Guinea deal, keeping Deepwater Conqueror contracted after its Gulf of Mexico assignment ends.

Zacks Investment Research·Sep 16, 2026
Is Transocean (RIG) Stock Outpacing Its Oils-Energy Peers This Year?

Here is how Transocean (RIG) and Seadrill (SDRL) have performed compared to their sector so far this year.

Invezz·Sep 16, 2026
Transocean stock jumps as it strikes a new $80M deal: is it a good buy?

Transocean stock jumped by 9% after the company announced a major contract for its Ultra-Deepwater drillship, signaling that its business was seeing substantial traction. RIG soared to $5.94, up by over 22% from its lowest level in July.

Filtered for Transocean Ltd.More Headlines
04

Compare before deciding

Benchmark RIG against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Transocean Ltd. (RIG)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
RIG logoRIGTransocean Ltd.Current
$5.47$5.56B-1.8012.51%-73.52%-31.7%—
VAL logoVALValaris Limited
$82.57$5.72B5.960.27%43.95%31.32%—
NE logoNENoble Corporation Plc
$44.62$7.12B33.057.45%4.88%3.3%—
SDRL logoSDRLSeadrill Limited
$46.43$2.9B-37.443.75%0.07%0.03%—
HP logoHPHelmerich & Payne, Inc.
$39.56$3.95B-23.8335.89%-3.44%-5.08%—
NBR logoNBRNabors Industries Ltd.
$83.02$1.23B4.848.69%6.52%14.25%—

Compare RIG vs Peers

Transocean Ltd. (RIG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs VAL

Most directly comparable listed peer for RIG.

Scale Benchmark

vs XOM

Larger-name benchmark to compare RIG against a more recognizable public peer.

Peer Set

Compare Top 5

vs VAL, NE, SDRL, HP

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

RIG SEC Filings & Documents

Transocean Ltd. (RIG) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 5, 2026·SEC

Material company update

Jul 1, 2026·SEC

Material company update

Jun 16, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 23, 2026·SEC

FY 2025

Feb 18, 2025·SEC

10-Q Quarterly Reports

5
FY 2026

Aug 7, 2026·SEC

FY 2026

May 5, 2026·SEC

FY 2025

Oct 30, 2025·SEC

Get notified when RIG posts new earnings or crosses analyst targets

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RIG Frequently Asked Questions

Transocean Ltd. (RIG) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Transocean Ltd.'s revenue?

Transocean Ltd. (RIG) reported $4.12B in revenue for fiscal year 2025. This represents a 679% increase from $528.9M in 1996.

How fast is Transocean Ltd. growing?

Transocean Ltd. (RIG) grew revenue by 12.5% over the past year. This is steady growth.

Is RIG profitable?

Transocean Ltd. (RIG) reported a net loss of $1.66B for fiscal year 2025.

Dividend & Returns
What is RIG's return on equity?

Transocean Ltd. (RIG) has a return on equity (ROE) of -31.7%. Negative ROE indicates the company is unprofitable.

What is Transocean Ltd.'s free cash flow?

Transocean Ltd. (RIG) generated $1.04B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in RIG back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →