PerpEquities

Equity · Energy

Transocean Ltd. (RIG) perpetual futures

Transocean Ltd. provides specialized contract drilling services for oil and natural gas wells worldwide, operating a fleet of mobile offshore drilling units.

+1.6%NYSE closed
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Perpetual market activity

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24h volume
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Open interest
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Best liquidity
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Tightest spread
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Highest volume
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Settlement mix
USDT · 1/1
Perp/spot vol.
-
OI / float
-
Spot performance
1D+0.45%
5D+2.12%
1M-2.38%
6M-15.11%
YTD+34.02%
1Y+72.97%

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Company data

Company fundamentals

Updated 10h ago
Market cap
$5.7B
Updated 10h ago
Revenue
$4.1B
Trailing 12 months
Revenue growth
-1%
Next fiscal year
Profit margin
-40.2%
P/E
-3.0
Peer P/E -5.7
Free cash flow
$904M
Trailing 12 months
More metrics
Net income
-$1.7B
Trailing 12 months
P/S
1.4
Peer P/E
-5.7
Similar listed perps
Revenue estimate
$3.9B
Next fiscal year
Earnings
2026-11-04
Revenue est. $943.4M · Updated 10h ago
Dividend
$0.15
2015-08-21

Fundamental detail

Annual + quarterly
Latest revenue$4B
Net margin-73.5%
Free cash flow$626M
Net debt$4.7B
2020$3.2B
2021$2.6B
2022$2.6B
2023$2.8B
2024$3.5B
2025$4B
PeriodRevenueGrowthNet incomeFCF
2020$3.2B+2%-$567M$133M
2021$2.6B-19%-$592M$367M
2022$2.6B+1%-$621M-$269M
2023$2.8B+10%-$954M-$263M
2024$3.5B+24%-$512M$193M
2025$4B+13%-$2.9B$626M
PeriodGross marginOperating marginNet marginROEROA
2020+75.2%-15.6%-18.0%-5.0%-2.6%
2021+71.0%-4.4%-23.2%-5.3%-2.9%
2022+71.5%-0.8%-24.1%-5.8%-3.0%
2023+73.7%-3.0%-33.7%-9.2%-4.7%
2024+79.0%+10.6%-14.5%-5.0%-2.6%
2025+83.4%+17.8%-73.5%-36.0%-18.6%
PeriodCashDebtNet debtCurrent ratio
2020$1.2B$8.4B$7.2B1.98
2021$976M$7.7B$6.7B1.88
2022$683M$7.8B$7.1B1.29
2023$762M$7.9B$7.1B1.52
2024$560M$7.2B$6.7B1.47
2025$997M$5.7B$4.7B1.56
PeriodMarket capEnterprise valueP/SP/E
2020$1.4B$8.6B0.5-2.5
2021$1.8B$8.5B0.7-3.0
2022$3.2B$10.3B1.2-5.1
2023$4.9B$12B1.7-5.1
2024$3.2B$9.9B0.9-6.3
2025$4B$8.6B1.0-1.4
Q3 2024$948M
Q4 2024$952M
Q1 2025$906M
Q2 2025$988M
Q3 2025$1B
Q4 2025$1B
Q1 2026$1.1B
Q2 2026$966M
PeriodRevenueGrowthNet incomeFCF
Q3 2024$948M+33%-$494M$136M
Q4 2024$952M+28%$7M$177M
Q1 2025$906M+19%-$79M-$34M
Q2 2025$988M+15%-$938M$104M
Q3 2025$1B+8%-$1.9B$235M
Q4 2025$1B+10%$25M$321M
Q1 2026$1.1B+19%$71M$136M
Q2 2026$966M-2%$170M$212M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+80.0%-51.2%-52.1%-4.8%-2.5%
Q4 2024+81.1%+14.4%+0.7%+0.1%0.0%
Q1 2025+80.6%+6.8%-8.7%-0.8%-0.4%
Q2 2025+82.3%+16.7%-94.9%-10.0%-5.3%
Q3 2025+84.3%+23.1%-187.1%-23.8%-11.9%
Q4 2025+85.9%+23.1%+2.4%+0.3%+0.2%
Q1 2026+86.8%+26.2%+6.6%+0.9%+0.5%
Q2 2026+37.1%+15.7%+17.6%+2.0%+1.1%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$800M$7B$6.2B1.64
Q4 2024$560M$7.2B$6.7B1.47
Q1 2025$691M$6.6B$6B1.33
Q2 2025$772M$6.6B$5.8B1.26
Q3 2025$1.3B$6.2B$5B1.08
Q4 2025$997M$5.7B$4.7B1.56
Q1 2026$615M$5.3B$4.7B1.54
Q2 2026$509M$5.1B$4.6B1.59
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$3.7B$9.9B3.9-1.9
Q4 2024$3.2B$9.9B3.4117.2
Q1 2025$2.8B$8.8B3.1-8.9
Q2 2025$2.3B$8.1B2.3-0.6
Q3 2025$2.8B$7.8B2.8-0.4
Q4 2025$4B$8.6B3.839.7
Q1 2026$7.4B$12B6.825.9
Q2 2026$5.5B$10.1B5.78.2

Refreshed 10h ago

Charts: revenue, profit, cash flow & valuation
Revenue$966MQ2 2026
$270.3M$540.5M$810.8M$1.1BQ3 2023: $713MQ4 2023: $741MQ1 2024: $763MQ2 2024: $861MQ3 2024: $948MQ4 2024: $952MQ1 2025: $906MQ2 2025: $988MQ3 2025: $1BQ4 2025: $1BQ1 2026: $1.1BQ2 2026: $966MQ3 2023Q2 2026
Net income$170MQ2 2026
-$1.4B-$876.5M-$353.3M$170MQ3 2023: -$220MQ4 2023: -$104MQ1 2024: $98MQ2 2024: -$123MQ3 2024: -$494MQ4 2024: $7MQ1 2025: -$79MQ2 2025: -$938MQ3 2025: -$1.9BQ4 2025: $25MQ1 2026: $71MQ2 2026: $170MQ3 2023Q2 2026
EBITDA$280MQ2 2026
-$1.1B-$573M-$68.5M$436MQ3 2023: $169MQ4 2023: $105MQ1 2024: $213MQ2 2024: $291MQ3 2024: -$255MQ4 2024: $333MQ1 2025: $252MQ2 2025: -$806MQ3 2025: -$1.6BQ4 2025: $402MQ1 2026: $436MQ2 2026: $280MQ3 2023Q2 2026
Free cash flow$212MQ2 2026
-$46.5M$76M$198.5M$321MQ3 2023: -$94MQ4 2023: -$122MQ1 2024: -$169MQ2 2024: $49MQ3 2024: $136MQ4 2024: $177MQ1 2025: -$34MQ2 2025: $104MQ3 2025: $235MQ4 2025: $321MQ1 2026: $136MQ2 2026: $212MQ3 2023Q2 2026
EPS$0.14Q2 2026
-$1.51-$0.96-$0.41$0.14Q3 2023: -$0.28Q4 2023: -$0.13Q1 2024: $0.11Q2 2024: -$0.15Q3 2024: -$0.58Q4 2024: -$0.11Q1 2025: -$0.11Q2 2025: -$1.06Q3 2025: -$2.06Q4 2025: $0.03Q1 2026: $0.06Q2 2026: $0.14Q3 2023Q2 2026
Cash / Debt$509MQ2 2026
$2B$3.9B$5.9B$7.9BQ3 2023 · Cash: $808MQ3 2023 · Debt: $7.4BQ4 2023 · Cash: $762MQ4 2023 · Debt: $7.9BQ1 2024 · Cash: $716MQ1 2024 · Debt: $7.3BQ2 2024 · Cash: $875MQ2 2024 · Debt: $7.3BQ3 2024 · Cash: $800MQ3 2024 · Debt: $7BQ4 2024 · Cash: $560MQ4 2024 · Debt: $7.2BQ1 2025 · Cash: $691MQ1 2025 · Debt: $6.6BQ2 2025 · Cash: $772MQ2 2025 · Debt: $6.6BQ3 2025 · Cash: $1.3BQ3 2025 · Debt: $6.2BQ4 2025 · Cash: $997MQ4 2025 · Debt: $5.7BQ1 2026 · Cash: $615MQ1 2026 · Debt: $5.3BQ2 2026 · Cash: $509MQ2 2026 · Debt: $5.1BQ3 2023Q2 2026
CashDebt
Profitability+37.1%Q2 2026
-118.6%-50.1%+18.3%+86.8%Q3 2023 · Gross margin: +73.1%Q4 2023 · Gross margin: +75.2%Q1 2024 · Gross margin: +75.8%Q2 2024 · Gross margin: +78.6%Q3 2024 · Gross margin: +80.0%Q4 2024 · Gross margin: +81.1%Q1 2025 · Gross margin: +80.6%Q2 2025 · Gross margin: +82.3%Q3 2025 · Gross margin: +84.3%Q4 2025 · Gross margin: +85.9%Q1 2026 · Gross margin: +86.8%Q2 2026 · Gross margin: +37.1%Q3 2023 · Operating margin: -7.7%Q4 2023 · Operating margin: -9.6%Q1 2024 · Operating margin: -0.4%Q2 2024 · Operating margin: -6.9%Q3 2024 · Operating margin: -51.2%Q4 2024 · Operating margin: +14.4%Q1 2025 · Operating margin: +6.8%Q2 2025 · Operating margin: +16.7%Q3 2025 · Operating margin: +23.1%Q4 2025 · Operating margin: +23.1%Q1 2026 · Operating margin: +26.2%Q2 2026 · Operating margin: +15.7%Q3 2023 · Net margin: -30.9%Q4 2023 · Net margin: -14.0%Q1 2024 · Net margin: +12.8%Q2 2024 · Net margin: -14.3%Q3 2024 · Net margin: -52.1%Q4 2024 · Net margin: +0.7%Q1 2025 · Net margin: -8.7%Q2 2025 · Net margin: -94.9%Q3 2025 · Net margin: -187.1%Q4 2025 · Net margin: +2.4%Q1 2026 · Net margin: +6.6%Q2 2026 · Net margin: +17.6%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth-2.2%Q2 2026
+6.6%+15.4%+24.2%+33.0%Q2 2024: +18.1%Q3 2024: +33.0%Q4 2024: +28.5%Q1 2025: +18.7%Q2 2025: +14.8%Q3 2025: +8.4%Q4 2025: +9.6%Q1 2026: +19.3%Q2 2026: -2.2%Q3 2023Q2 2026
Shares outstanding1.2BQ2 2026
300.5M601M901.5M1.2BQ3 2023: 774MQ4 2023: 809MQ1 2024: 955MQ2 2024: 824MQ3 2024: 954MQ4 2024: 939.5MQ1 2025: 958MQ2 2025: 888MQ3 2025: 911MQ4 2025: 960MQ1 2026: 1.1BQ2 2026: 1.2BQ3 2023Q2 2026
Valuation8.2Q2 2026
20.152.584.8117.2Q3 2023 · P/E: -7.3Q4 2023 · P/E: -12.2Q1 2024 · P/E: 13.3Q2 2024 · P/E: -8.4Q3 2024 · P/E: -1.9Q4 2024 · P/E: 117.2Q1 2025 · P/E: -8.9Q2 2025 · P/E: -0.6Q3 2025 · P/E: -0.4Q4 2025 · P/E: 39.7Q1 2026 · P/E: 25.9Q2 2026 · P/E: 8.2Q3 2023 · P/S: 8.9Q4 2023 · P/S: 6.9Q1 2024 · P/S: 6.8Q2 2024 · P/S: 4.8Q3 2024 · P/S: 3.9Q4 2024 · P/S: 3.4Q1 2025 · P/S: 3.1Q2 2025 · P/S: 2.3Q3 2025 · P/S: 2.8Q4 2025 · P/S: 3.8Q1 2026 · P/S: 6.8Q2 2026 · P/S: 5.7Q3 2023Q2 2026
P/EP/S
Revenue$4B2025
$991.3M$2B$3B$4B2018: $3B2019: $3.1B2020: $3.2B2021: $2.6B2022: $2.6B2023: $2.8B2024: $3.5B2025: $4B20182025
Net income-$2.9B2025
-$2.2B-$1.5B-$728.8M2018: -$2B2019: -$1.3B2020: -$567M2021: -$592M2022: -$621M2023: -$954M2024: -$512M2025: -$2.9B20182025
EBITDA-$1.7B2025
-$1B-$352M$339M$1B2018: -$225M2019: $504M2020: $1B2021: $939M2022: $851M2023: $501M2024: $582M2025: -$1.7B20182025
Free cash flow$626M2025
-$45.3M$178.5M$402.3M$626M2018: $374M2019: -$47M2020: $133M2021: $367M2022: -$269M2023: -$263M2024: $193M2025: $626M20182025
EPS-$3.042025
-$3.2-$2.13-$1.072018: -$4.262019: -$2.052020: -$0.922021: -$0.932022: -$0.892023: -$1.242024: -$0.762025: -$3.0420182025
Cash / Debt$997M2025
$2.5B$5B$7.5B$10B2018 · Cash: $2.2B2018 · Debt: $10B2019 · Cash: $1.8B2019 · Debt: $9.9B2020 · Cash: $1.2B2020 · Debt: $8.4B2021 · Cash: $976M2021 · Debt: $7.7B2022 · Cash: $683M2022 · Debt: $7.8B2023 · Cash: $762M2023 · Debt: $7.9B2024 · Cash: $560M2024 · Debt: $7.2B2025 · Cash: $997M2025 · Debt: $5.7B20182025
CashDebt
Profitability+83.4%2025
-34.3%+4.9%+44.2%+83.4%2018 · Gross margin: +72.9%2019 · Gross margin: +72.3%2020 · Gross margin: +75.2%2021 · Gross margin: +71.0%2022 · Gross margin: +71.5%2023 · Gross margin: +73.7%2024 · Gross margin: +79.0%2025 · Gross margin: +83.4%2018 · Operating margin: -41.5%2019 · Operating margin: -23.3%2020 · Operating margin: -15.6%2021 · Operating margin: -4.4%2022 · Operating margin: -0.8%2023 · Operating margin: -3.0%2024 · Operating margin: +10.6%2025 · Operating margin: +17.8%2018 · Net margin: -66.1%2019 · Net margin: -40.6%2020 · Net margin: -18.0%2021 · Net margin: -23.2%2022 · Net margin: -24.1%2023 · Net margin: -33.7%2024 · Net margin: -14.5%2025 · Net margin: -73.5%20182025
Gross marginOperating marginNet margin
Revenue growth+12.5%2025
-8.1%+2.8%+13.6%+24.4%2019: +2.3%2020: +2.1%2021: -18.9%2022: +0.7%2023: +10.0%2024: +24.4%2025: +12.5%20182025
Shares outstanding960M2025
240M480M720M960M2018: 468M2019: 612M2020: 615M2021: 637M2022: 699M2023: 768M2024: 925M2025: 960M20182025
Valuation-1.42025
-4.3-2.3-0.31.72018 · P/E: -1.62019 · P/E: -3.42020 · P/E: -2.52021 · P/E: -3.02022 · P/E: -5.12023 · P/E: -5.12024 · P/E: -6.32025 · P/E: -1.42018 · P/S: 1.12019 · P/S: 1.42020 · P/S: 0.52021 · P/S: 0.72022 · P/S: 1.22023 · P/S: 1.72024 · P/S: 0.92025 · P/S: 1.020182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-11-04
Revenue est. $943.4M · Updated 10h ago
Dividend
$0.15
2015-08-21

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20260.23$3.9B-1%6
FY 20270.28$3.9B-2%7
FY 20280.38$4B0%6
FY 20290.15$3.8B-5%3
FY 20300.10$3.7B-7%2
Q1 20290.04$1.3B+22%2

Company events

6
2026-11-04EarningsActual - / Estimate 0.02-
2026-08-05EarningsActual 0.15 / Estimate 0.01Beat
2026-05-04EarningsActual -0.03 / Estimate 0.07Miss
2026-02-19EarningsActual 0.02 / Estimate 0.09Miss
2025-10-29EarningsActual 0.06 / Estimate 0.04Beat
2025-08-04EarningsActual -1.06 / Estimate -0.01Miss

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
UUUU$2.4B22.8-28.8-77.3%1DNN$2.1B747.9-11.2-6,732.7%1BATL$22.5M0.1-0.2-24.5%1SKINNOV$18.9B0.3-21.1-1.3%1YPF$20.4B1.1-50.3-3.1%3VG$32.1B1.99.7+21.5%2LNG$59.2B2.720.9+13.1%1OXY$61B2.49.2+28.8%3

FMP company data

Company intelligence

Updated: Sep 18, 2026, 06:21 AM UTC

Company profile

Sector
Energy
Industry
Oil & Gas Drilling
Chief executive
Keelan I. Adamson
Employees
5,220
IPO date
May 28, 1993
Country
CH
Exchange
New York Stock Exchange
Website
Altman Z-scorei-0.07
Piotroski scorei5/9
FMP ratingiC
Owner earningsi$93.86M$0.08 per share
ESG risk ratingiC+Industry rank: 16 out of 17

Rating factors

Return on equityi
1
Return on assetsi
1
Debt to equityi
2
Price to earningsi
1
Price to booki
4

Company press releases

Transocean Ltd. Announces $80 Million Contract For Ultra-Deepwater DrillshipGlobeNewsWireNEVADA KING SECURES FOURTH DRILL RIG TO ATLANTA, PROVIDES EXPLORATION DRILLING UPDATEPRNewsWireTransocean Ltd. Announces $300 Million Contract For Ultra-Deepwater DrillshipGlobeNewsWireTransocean Ltd. Reports Second Quarter 2026 ResultsGlobeNewsWireTransocean Ltd. Provides Quarterly Fleet Status ReportGlobeNewsWireNEVADA KING RECEIVES BLM APPROVAL FOR 482 ADDITIONAL DRILL SITES, ADDS THIRD DRILL RIG TO ACCELERATE FULLY FUNDED 40,000M DRILL PROGRAMPRNewsWire

Congressional disclosures

Senate

Market cap history
$6.29B+1.7%Jun 26 – Sep 26
$5.47B$6.02B$6.57BHigh: $6.57B · 2026-08-17Low: $5.47B · 2026-07-06Latest: $6.29B · 2026-09-17Jun 26Jul 26Aug 26Sep 26
Latest: $6.29B · 2026-09-17High: $6.57B · 2026-08-17Low: $5.47B · 2026-07-06
Largest fund holders
FundWeightShares held
VTI0.01%31.9M
XSU.TO0.19%26M
VB0.07%23.1M
OIH4.56%15.8M
VBK0.17%13.3M
VXF0.07%11.7M
DFAT0.24%5.9M
VTWO0.18%5.7M
DFSV0.39%5.5M
VDE0.24%5.4M
SCHA0.13%4.8M
FLHY0.31%4.2M

Analyst track record

How the analysts covering RIG have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings38135
Analysts1321
Buy / hold / sell16 / 15 / 755 / 67 / 13
Upgrades / downgrades / initiations2 / 5 / 18 / 9 / 2
Price targets hit / missed14 / 22 (39%)49 / 77 (39%)
Avg. return after a rating (TipRanks)-3.3%-2.3%
Best / worst call+84.7% / -44.6%+191.6% / -53.8%

After buy calls on this stock: median 21-day move +3.9% vs S&P 500 -0.4% (n = 58)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Gregory LewisBTIG18% hit rate on this stock · 11 targets measuredBuytarget $10.00Aug 18, 2026

Latest ratings

DateAnalystCallTarget
Aug 20, 2026Joe LaetschMorgan StanleyHoldReiterated$7.00article ↗
Aug 19, 2026Saurabh PantBank of America SecuritiesSellMaintained$4.75article ↗
Aug 18, 2026Gregory LewisBTIGBuyReiterated$10.00article ↗
Aug 12, 2026Eddie KimBarclaysBuyMaintained$7.00article ↗
Aug 7, 2026Truls OlsenFearnley SecuritiesBuyUpgraded$6.70article ↗
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$4.00$4.50$5.00$5.50$6.00$6.50$7.00Nov 25 · Buy 4 · Hold 3 · Sell 2Nov 25Dec 25 · Buy 4 · Hold 4 · Sell 2Jan 26 · Buy 4 · Hold 4 · Sell 2Jan 26Feb 26 · Buy 3 · Hold 6 · Sell 3Mar 26 · Buy 2 · Hold 7 · Sell 3Mar 26Apr 26 · Buy 2 · Hold 5 · Sell 3May 26 · Buy 3 · Hold 5 · Sell 3May 26Jun 26 · Buy 3 · Hold 4 · Sell 2Jul 26 · Buy 3 · Hold 4 · Sell 2Jul 26Aug 26 · Buy 4 · Hold 3 · Sell 1Sep 26 · Buy 4 · Hold 2 · Sell 1Sep 26Oct 26 · Buy 4 · Hold 2 · Sell 1Nov 25 · avg. target $3.83Dec 25 · avg. target $4.19Jan 26 · avg. target $4.17Feb 26 · avg. target $5.23Mar 26 · avg. target $5.45Apr 26 · avg. target $6.11May 26 · avg. target $6.40Jun 26 · avg. target $6.61Jul 26 · avg. target $6.49Aug 26 · avg. target $6.79Sep 26 · avg. target $6.92Oct 26 · avg. target $6.92Nov 25 · month-end close $4.41Dec 25 · month-end close $4.13Jan 26 · month-end close $4.97Feb 26 · month-end close $6.48Mar 26 · month-end close $6.63Apr 26 · month-end close $6.82May 26 · month-end close $6.19Jun 26 · month-end close $4.89Jul 26 · month-end close $5.32Aug 26 · month-end close $5.81Sep 26 · month-end close $5.24Oct 26 · month-end close $5.51

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Oct 9, 2026 · 38 ratings

Other Energy perps

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