Transocean (RIG)
Market Price (12/27/2025): $4.0 | Market Cap: $3.8 BilSector: Energy | Industry: Oil & Gas Drilling
Transocean (RIG)
Market Price (12/27/2025): $4.0Market Cap: $3.8 BilSector: EnergyIndustry: Oil & Gas Drilling
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12% | Weak multi-year price returns2Y Excs Rtn is -82%, 3Y Excs Rtn is -91% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 139% |
| Attractive yieldFCF Yield is 12% | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% | Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 65% |
| Megatrend and thematic driversMegatrends include Global Energy Supply. Themes include Offshore Hydrocarbon Extraction Technology, and Deepwater Drilling Solutions. | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -80% | |
| Key risksRIG key risks include [1] a substantial debt load that limits its financial flexibility and [2] potential contract renegotiations and high rig operating costs that threaten revenue stability. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Attractive yieldFCF Yield is 12% |
| Megatrend and thematic driversMegatrends include Global Energy Supply. Themes include Offshore Hydrocarbon Extraction Technology, and Deepwater Drilling Solutions. |
| Weak multi-year price returns2Y Excs Rtn is -82%, 3Y Excs Rtn is -91% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 139% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 65% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -80% |
| Key risksRIG key risks include [1] a substantial debt load that limits its financial flexibility and [2] potential contract renegotiations and high rig operating costs that threaten revenue stability. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
Here are five key points explaining Transocean's (RIG) stock movement of 32.7% between August 31, 2025, and December 27, 2025:
<br><br>
<b>1. Transocean reported stronger-than-expected adjusted financial results for the third quarter of 2025.</b>
The company announced an adjusted net income of $62 million, with contract drilling revenues increasing sequentially to $1.03 billion, surpassing internal guidance. This revenue growth was primarily attributed to improved rig utilization, enhanced revenue efficiency, and an increase in day rates for certain rigs. Additionally, cash provided by operating activities saw a significant sequential increase of $118 million to $246 million during the quarter.
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<b>2. The company made substantial progress in debt reduction and improved its liquidity position.</b>
Transocean management reported a projected debt reduction of approximately $1.2 billion by year-end 2025, exceeding its scheduled maturities. This deleveraging is expected to decrease annualized interest expense by roughly $87 million in 2026. The company also maintained a robust total liquidity of approximately $1.8 billion at the end of the third quarter, which included unrestricted cash, restricted cash for debt service, and undrawn revolving credit facility capacity.
<br><br>
<b>3. Transocean secured significant new contract awards and option exercises, bolstering its backlog.</b>
In December 2025, Transocean announced a six-well contract for the Deepwater Skyros in Australia, valued at approximately $130 million, expected to commence in the first quarter of 2027 and potentially extend into early 2030 with priced options. Prior to this, in November 2025, the company announced additional contract fixtures totaling around $89 million, including a 90-day option exercised by Petrobras for the Deepwater Mykonos. Furthermore, BP exercised a one-year option for the Deepwater Atlas at $635,000 per day, adding $232 million to the backlog and extending its operations through the second quarter of 2030.
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<b>4. The positive outlook for the offshore drilling market likely contributed to investor confidence.</b>
Industry analysis indicated that the offshore drilling market is projected to experience steady growth, driven by increasing global demand for energy, particularly from deepwater reserves. Technological advancements in drilling techniques are also enabling access to previously unreachable resources, with deepwater drilling and Floating Production, Storage, and Offloading (FPSO) units expected to be dominant segments in the coming years.
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<b>5. Strategic fleet rationalization initiatives positioned Transocean for a more efficient future.</b>
Transocean outlined plans to retire nine lower-specification rigs by mid-2026. This move is designed to streamline the company's fleet, focusing on a core of 24 contracted ultra-deepwater drillships and high-specification harsh environment semisubmersibles, alongside three cold-stacked seventh-generation drillships. This strategic shift is aimed at enhancing operational efficiency and competitiveness within the specialized offshore drilling market.
Show moreStock Movement Drivers
Fundamental Drivers
The 26.0% change in RIG stock from 9/26/2025 to 12/26/2025 was primarily driven by a 33.6% change in the company's P/S Multiple.| 9262025 | 12262025 | Change | |
|---|---|---|---|
| Stock Price ($) | 3.19 | 4.02 | 26.02% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 3794.00 | 3874.00 | 2.11% |
| P/S Multiple | 0.75 | 1.00 | 33.56% |
| Shares Outstanding (Mil) | 888.00 | 961.00 | -8.22% |
| Cumulative Contribution | 25.17% |
Market Drivers
9/26/2025 to 12/26/2025| Return | Correlation | |
|---|---|---|
| RIG | 26.0% | |
| Market (SPY) | 4.3% | 45.9% |
| Sector (XLE) | -3.9% | 56.2% |
Fundamental Drivers
The 55.8% change in RIG stock from 6/27/2025 to 12/26/2025 was primarily driven by a 60.5% change in the company's P/S Multiple.| 6272025 | 12262025 | Change | |
|---|---|---|---|
| Stock Price ($) | 2.58 | 4.02 | 55.81% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 3667.00 | 3874.00 | 5.64% |
| P/S Multiple | 0.62 | 1.00 | 60.52% |
| Shares Outstanding (Mil) | 883.00 | 961.00 | -8.83% |
| Cumulative Contribution | 54.60% |
Market Drivers
6/27/2025 to 12/26/2025| Return | Correlation | |
|---|---|---|
| RIG | 55.8% | |
| Market (SPY) | 12.6% | 38.8% |
| Sector (XLE) | 4.5% | 54.7% |
Fundamental Drivers
The 12.6% change in RIG stock from 12/26/2024 to 12/26/2025 was primarily driven by a 16.9% change in the company's Total Revenues ($ Mil).| 12262024 | 12262025 | Change | |
|---|---|---|---|
| Stock Price ($) | 3.57 | 4.02 | 12.61% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 3313.00 | 3874.00 | 16.93% |
| P/S Multiple | 0.95 | 1.00 | 5.28% |
| Shares Outstanding (Mil) | 879.00 | 961.00 | -9.33% |
| Cumulative Contribution | 11.63% |
Market Drivers
12/26/2024 to 12/26/2025| Return | Correlation | |
|---|---|---|
| RIG | 12.6% | |
| Market (SPY) | 15.8% | 49.2% |
| Sector (XLE) | 7.1% | 66.8% |
Fundamental Drivers
The -15.0% change in RIG stock from 12/27/2022 to 12/26/2025 was primarily driven by a -34.6% change in the company's Shares Outstanding (Mil).| 12272022 | 12262025 | Change | |
|---|---|---|---|
| Stock Price ($) | 4.73 | 4.02 | -15.01% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2590.00 | 3874.00 | 49.58% |
| P/S Multiple | 1.30 | 1.00 | -23.52% |
| Shares Outstanding (Mil) | 714.00 | 961.00 | -34.59% |
| Cumulative Contribution | -25.18% |
Market Drivers
12/27/2023 to 12/26/2025| Return | Correlation | |
|---|---|---|
| RIG | -38.7% | |
| Market (SPY) | 48.0% | 42.2% |
| Sector (XLE) | 9.7% | 65.6% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RIG Return | -66% | 19% | 65% | 39% | -41% | 7% | -42% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 150% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% |
Monthly Win Rates [3] | |||||||
| RIG Win Rate | 50% | 50% | 75% | 42% | 42% | 75% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| RIG Max Drawdown | -90% | 0% | -14% | -6% | -45% | -43% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See RIG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)
How Low Can It Go
| Event | RIG | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -53.5% | -25.4% |
| % Gain to Breakeven | 115.3% | 34.1% |
| Time to Breakeven | 108 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -90.6% | -33.9% |
| % Gain to Breakeven | 969.4% | 51.3% |
| Time to Breakeven | 830 days | 148 days |
| 2018 Correction | ||
| % Loss | -75.6% | -19.8% |
| % Gain to Breakeven | 310.4% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -73.8% | -56.8% |
| % Gain to Breakeven | 282.1% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Transocean's stock fell -53.5% during the 2022 Inflation Shock from a high on 7/2/2021. A -53.5% loss requires a 115.3% gain to breakeven.
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AI Analysis | Feedback
Here are 1-3 brief analogies to describe Transocean (RIG):
- Maersk for offshore oil drilling. (Maersk operates a massive global fleet of ships to transport goods; Transocean operates a massive global fleet of rigs to extract oil.)
- Ryder for ultra-deepwater oil rigs. (Ryder leases and manages fleets of specialized trucks; Transocean leases and manages fleets of specialized offshore drilling rigs.)
- United Rentals for highly specialized, ultra-deepwater oil drilling equipment. (United Rentals provides a wide range of industrial equipment for rent; Transocean essentially provides highly specialized, large-scale drilling equipment with operators for rent/contract.)
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- Ultra-deepwater and Deepwater Drilling Services: Transocean provides highly specialized mobile offshore drilling units and crews to explore and develop oil and gas wells in water depths ranging from 1,000 to over 12,000 feet.
- Harsh Environment Drilling Services: The company offers robust, purpose-built drilling rigs and experienced personnel capable of operating safely and efficiently in extreme weather conditions and challenging offshore environments, such as the North Sea.
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Transocean (RIG) Major Customers
Transocean (RIG) is a leading international provider of offshore contract drilling services. Given its business model, Transocean sells primarily to other companies, specifically major oil and gas exploration and production companies. While Transocean's specific contractual customer details are proprietary, its customer base consists of the largest national, international, and independent oil and gas companies that require deepwater and ultra-deepwater drilling services for their exploration and development projects. Here are examples of major companies that are frequent clients for offshore drilling contractors like Transocean, representing the types of entities that constitute Transocean's primary customer base:- Exxon Mobil Corporation (Symbol: XOM)
- Shell plc (Symbol: SHEL)
- Chevron Corporation (Symbol: CVX)
- BP p.l.c. (Symbol: BP)
- TotalEnergies SE (Symbol: TTE)
- Petróleo Brasileiro S.A. (Petrobras) (Symbol: PBR)
- Equinor ASA (Symbol: EQNR)
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- NOV Inc. (NOV)
- Schlumberger (SLB)
- ABB Ltd (ABB)
- Kongsberg Gruppen (KOG.OL)
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```htmlKeelan Adamson, President and Chief Executive Officer
Keelan Adamson became President and Chief Executive Officer of Transocean in April 2025. He joined Transocean in 1995 and has held various rig management positions in the United Kingdom, Asia, and Africa. Adamson's career with Transocean also includes leadership roles in sales and marketing, and serving as the Managing Director for the company's business in North America, Canada, and Trinidad. Prior to his current role, he served as President and Chief Operating Officer (February 2022 - April 2025), Executive Vice President and Chief Operating Officer (2018-2022), Senior Vice President, Operations (2017-2018), Senior Vice President, Operations Integrity and HSE (2015-2017), and Vice President, Human Resources (2012-2015). He earned a bachelor's degree in Aeronautical Engineering from The Queens University of Belfast and completed the Advanced Management Program at Harvard Business School.
R. Thaddeus Vayda, Executive Vice President and Chief Financial Officer
R. Thaddeus Vayda has served as Executive Vice President and Chief Financial Officer of Transocean since 2024. Before this, he was the Senior Vice President of Corporate Finance and Treasurer at Transocean. Mr. Vayda also held the position of Vice President of Investor Relations and Communications from March 2012 to June 2014.
Jeremy D. Thigpen, Chairman of the Board
Jeremy D. Thigpen became Chairman of the Board of Transocean in 2025. He previously served as President and Chief Executive Officer of Transocean from April 2015 until Keelan Adamson's appointment in April 2025. Prior to joining Transocean, Mr. Thigpen spent 18 years at National Oilwell Varco Inc., where he held several significant leadership roles. These included Senior Vice President and Chief Financial Officer (2012-2015), President of the Downhole and Pumping Solutions business (2007-2012), and President of the Downhole Tools group (2003-2007). He also served in various management and business development capacities, including Director of Business Development and Special Assistant to the Chairman. Mr. Thigpen earned a Bachelor of Arts degree in Economics and Managerial Studies from Rice University and completed the Program for Management Development at Harvard Business School.
Brady Long, Executive Vice President and Chief Legal Officer
Brady Long is the Executive Vice President and Chief Legal Officer of Transocean. He joined Transocean in 2015. Before his tenure at Transocean, Mr. Long was the Vice President, General Counsel & Secretary at Ensco plc for four years, a role he assumed following the merger of Pride International with Ensco. He also served as Pride International's Vice President, General Counsel & Secretary for two years, having initially joined Pride in 2005 as Assistant General Counsel. Additionally, he served as Pride's Chief Compliance Officer from 2006 to 2009. Before entering the offshore drilling industry, Mr. Long practiced corporate and securities law at Bracewell LLP. He earned a Bachelor of Arts degree from Brigham Young University, a Juris Doctorate from The University of Texas School of Law, and an Executive LLM in Tax from New York University.
Jason Pack, Senior Vice President, Chief Accounting Officer
Jason Pack has served as Senior Vice President and Chief Accounting Officer of Transocean since 2024. Prior to this, he was the Senior Vice President and Chief Audit Executive for Transocean from 2018 to 2024. Mr. Pack also served as Vice President of Internal Audit at National Oilwell Varco, where he held various other roles including Vice President of Finance Drilling and Intervention, Vice President of Finance Africa, and Global Controller Downhole. He was also Senior Controller at NQL Drilling Tools Inc.
```AI Analysis | Feedback
The key risks to Transocean (RIG) include:
- High Debt Load and Financial Obligations: Transocean carries a substantial long-term debt, projected to be around $5.9 billion by the end of 2025, which results in significant interest expenses that consume a large portion of operating cash flow. This high leverage limits the company's financial flexibility, making it vulnerable to economic downturns and impacting its ability to invest in growth or weather market slumps.
- Cyclicality of the Offshore Drilling Industry and Oil Price Volatility: The offshore drilling sector is highly dependent on fluctuating crude oil prices and the capital expenditure trends of oil and gas companies. Subdued capital expenditure, lack of clear direction from operators, and wavering oil prices can lead to reduced demand for Transocean's drilling services, lower rig utilization rates, and downward pressure on day rates, directly affecting revenue and profitability.
- Operational Risks and Contractual Challenges: Transocean faces risks related to contract negotiations, including operators being hesitant to commit to long-term agreements or potentially seeking to repudiate or renegotiate existing contracts, which could significantly impact revenue stability. Additionally, the company faces high operating and maintenance costs for its advanced rigs, leading to margin pressure. Rig downtime due to equipment breakdowns, severe weather, labor issues, or other unforeseen problems can also reduce day rates or suspend operations, affecting profitability.
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The global energy transition away from fossil fuels and towards renewable energy sources poses a clear emerging threat. Transocean's primary clients, major international oil and gas companies, are increasingly committing to decarbonization strategies, setting net-zero targets, divesting from hydrocarbon assets, and redirecting capital expenditures towards renewable energy projects. This fundamental shift in the energy landscape is impacting the long-term demand for offshore drilling services, potentially leading to reduced exploration activity, fewer new deepwater drilling contracts, and accelerated decline in demand for existing assets over the coming decades.
AI Analysis | Feedback
The addressable market for Transocean's main products and services, which primarily consist of offshore contract drilling services, can be identified by the global offshore drilling market. Transocean specializes in providing advanced drilling services, including ultra-deepwater and harsh environment drilling, using its fleet of mobile offshore drilling units such as drillships and semi-submersibles.The global offshore drilling market was valued at approximately USD 40.04 billion in 2024. This market is projected to grow to about USD 43.78 billion in 2025 and is expected to reach approximately USD 69.34 billion by 2032, demonstrating a Compound Annual Growth Rate (CAGR) of 6.79% during this period. Other estimates place the global offshore drilling market size at USD 39.61 billion in 2024, with a predicted increase to around USD 86.09 billion by 2034, growing at a CAGR of 8.07% from 2025 to 2034. Similarly, another report valued the market at USD 37.35 billion in 2023, poised to grow from USD 40.2 billion in 2024 to USD 69.59 billion by 2032, at a CAGR of 7.1%.
AI Analysis | Feedback
Transocean (RIG) is expected to experience future revenue growth over the next 2-3 years driven by several key factors in the offshore drilling market:
- Increased Rig Utilization: Improved utilization of Transocean's offshore drilling rigs is a significant driver of revenue growth. The company reported increased contract drilling revenues due to improved rig utilization and revenue efficiency. Furthermore, Transocean's active fleet is highly contracted, with over 97% booked for 2025, demonstrating strong demand.
- Higher Day Rates: The offshore drilling market is experiencing upward pressure on day rates, particularly for high-specification ultra-deepwater and harsh environment rigs. As the market is expected to tighten by late 2026 or early 2027, global active ultra-deepwater fleet utilization is projected to approach 90%, which should further result in upward pressure on day rates.
- New Contract Wins and Strong Backlog: Transocean continues to secure new contracts and maintain a substantial backlog, providing clear visibility for future revenue. The company's backlog stood at $7.2 billion as of July 2025 and increased to $9.3 billion in October 2024. Rig contracting activity is increasing, with new contracts anticipated in regions such as the U.S. Gulf, Brazil, and Africa.
- Growth in Deepwater and Ultra-Deepwater Drilling Activity: The market is projected to see increased capital expenditure and activity in deepwater and ultra-deepwater drilling. Wood Mackenzie's analysis shows deepwater and ultra-deepwater development CapEx rising from $64 billion in 2025 to $79 billion in 2027, a 23% increase. Transocean's fleet, composed of 26 ultra-deepwater floaters and eight harsh environment floaters, is well-positioned to benefit from this trend. The overall offshore drilling market is also expected to grow, with projections reaching approximately $80.64 billion by 2033 from $36.60 billion in 2023.
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Share Repurchases
- Transocean has a long-standing Share Repurchase Program approved in 2009 for up to CHF 3.5 billion, which was renewed in 2013.
- As of Q3 2024, management indicated that share repurchases would be considered once the company reaches a net debt-to-EBITDA ratio of 3.5 turns.
Share Issuance
- In September 2025, Transocean announced a public offering to sell 100,000,000 shares, with an option for underwriters to purchase up to an additional 15,000,000 shares.
- This offering was later upsized to 125 million shares at $3.05 each, generating approximately $381.25 million, primarily intended for debt repayment.
- The company raised approximately $195 million through share issuances in July and August 2025 and secured an additional $421 million from another equity issuance in September 2025.
Inbound Investments
- Perestroika, a ten percent owner of Transocean, acquired 4,000,000 registered shares for $12.2 million on September 26, 2025.
Capital Expenditures
- Capital expenditures for Q2 2024 amounted to $84 million.
- Expected capital expenditures for the full year 2024 were $250 million, with approximately $115 million allocated to the Deepwater Aquila. An earlier estimate for 2024 CapEx was $195 million.
- For the full year 2026, capital expenditures are projected to be between $125 million and $135 million, focusing on maintaining and upgrading the specialized fleet.
Latest Trefis Analyses
| Title | Topic | |
|---|---|---|
| DASHBOARDS | ||
| Transocean Earnings Notes | ||
| Transocean Earnings Notes | ||
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| How Does Transocean Stock Stack Up Against Its Peers? | Peer Comparison | |
| Transocean (RIG) Operating Cash Flow Comparison | Financials | |
| Transocean (RIG) Net Income Comparison | Financials | |
| Transocean (RIG) Debt Comparison | Financials |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to RIG. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WHD | Cactus | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 12.1% | 12.1% | 0.0% |
| 10172025 | OVV | Ovintiv | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 6.4% | 6.4% | 0.0% |
| 10102025 | COP | ConocoPhillips | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.4% | 5.4% | -2.3% |
| 10102025 | HAL | Halliburton | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 28.1% | 28.1% | -0.7% |
| 10102025 | OXY | Occidental Petroleum | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.9% | -4.9% | -7.1% |
| 09302024 | RIG | Transocean | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -25.4% | -26.6% | -49.9% |
| 12312022 | RIG | Transocean | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 53.7% | 39.3% | -6.4% |
| 04302021 | RIG | Transocean | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 9.6% | 16.8% | -14.3% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Transocean
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 51.32 |
| Mkt Cap | 158.8 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.4% |
| Rev Chg 3Y Avg | 3.2% |
| Rev Chg Q | 8.8% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Mgn LTM | 16.6% |
| Op Mgn 3Y Avg | 11.9% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 18.1% |
| CFO/Rev 3Y Avg | 17.1% |
| FCF/Rev LTM | 15.3% |
| FCF/Rev 3Y Avg | 12.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 158.8 |
| P/S | 2.7 |
| P/EBIT | 21.2 |
| P/E | 33.0 |
| P/CFO | 16.2 |
| Total Yield | 3.9% |
| Dividend Yield | 2.1% |
| FCF Yield 3Y Avg | 5.7% |
| D/E | 0.4 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -0.4% |
| 3M Rtn | 7.5% |
| 6M Rtn | 24.9% |
| 12M Rtn | 13.4% |
| 3Y Rtn | 73.6% |
| 1M Excs Rtn | -2.7% |
| 3M Excs Rtn | 3.2% |
| 6M Excs Rtn | 12.6% |
| 12M Excs Rtn | -0.4% |
| 3Y Excs Rtn | -6.2% |
Comparison Analyses
Price Behavior
| Market Price | $4.02 | |
| Market Cap ($ Bil) | 3.9 | |
| First Trading Date | 05/28/1993 | |
| Distance from 52W High | -9.7% | |
| 50 Days | 200 Days | |
| DMA Price | $4.00 | $3.15 |
| DMA Trend | up | up |
| Distance from DMA | 0.5% | 27.5% |
| 3M | 1YR | |
| Volatility | 50.3% | 63.4% |
| Downside Capture | 138.22 | 146.49 |
| Upside Capture | 222.28 | 137.32 |
| Correlation (SPY) | 46.1% | 49.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.03 | 2.06 | 1.97 | 1.74 | 1.57 | 1.45 |
| Up Beta | 2.89 | 1.58 | 2.04 | 1.29 | 1.10 | 1.07 |
| Down Beta | 3.21 | 2.63 | 2.47 | 1.83 | 2.43 | 2.06 |
| Up Capture | 275% | 369% | 303% | 303% | 161% | 211% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 11 | 26 | 40 | 69 | 120 | 360 |
| Down Capture | 111% | 107% | 108% | 132% | 126% | 108% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 6 | 13 | 20 | 51 | 122 | 373 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of RIG With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| RIG | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 13.9% | 8.6% | 17.8% | 72.1% | 8.6% | 4.4% | -8.3% |
| Annualized Volatility | 63.1% | 24.4% | 19.4% | 19.3% | 15.2% | 17.0% | 35.0% |
| Sharpe Ratio | 0.46 | 0.29 | 0.72 | 2.70 | 0.34 | 0.09 | -0.08 |
| Correlation With Other Assets | 66.7% | 49.1% | 4.5% | 54.0% | 32.6% | 26.9% | |
ETFs used for asset classes: Sector ETF = XLE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of RIG With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| RIG | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 9.4% | 21.8% | 14.7% | 18.7% | 11.5% | 4.6% | 30.8% |
| Annualized Volatility | 67.4% | 26.7% | 17.1% | 15.5% | 18.7% | 18.9% | 48.7% |
| Sharpe Ratio | 0.41 | 0.75 | 0.70 | 0.97 | 0.50 | 0.16 | 0.57 |
| Correlation With Other Assets | 66.4% | 32.1% | 11.6% | 51.3% | 20.9% | 17.4% | |
ETFs used for asset classes: Sector ETF = XLE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of RIG With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| RIG | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -11.1% | 8.2% | 14.8% | 15.3% | 7.0% | 5.3% | 69.2% |
| Annualized Volatility | 75.4% | 29.8% | 18.0% | 14.7% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.18 | 0.33 | 0.71 | 0.86 | 0.32 | 0.22 | 0.90 |
| Correlation With Other Assets | 65.8% | 40.6% | 3.9% | 50.5% | 28.7% | 11.1% | |
ETFs used for asset classes: Sector ETF = XLE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2025 | 2.1% | 1.8% | 13.6% |
| 8/4/2025 | 3.6% | 3.6% | 6.4% |
| 2/18/2025 | 0.6% | -5.7% | -9.3% |
| 10/30/2024 | 9.0% | 17.3% | 10.6% |
| 7/31/2024 | -5.7% | -13.1% | -18.1% |
| 4/30/2024 | 1.0% | 9.6% | 13.0% |
| 2/20/2024 | -4.5% | -2.9% | 23.5% |
| 10/31/2023 | 0.5% | -1.8% | -3.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 13 | 12 |
| # Negative | 8 | 9 | 10 |
| Median Positive | 4.2% | 8.2% | 14.8% |
| Median Negative | -4.7% | -6.6% | -10.8% |
| Max Positive | 20.9% | 48.6% | 190.3% |
| Max Negative | -10.8% | -16.2% | -70.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10302025 | 10-Q 9/30/2025 |
| 6302025 | 8052025 | 10-Q 6/30/2025 |
| 3312025 | 4292025 | 10-Q 3/31/2025 |
| 12312024 | 2182025 | 10-K 12/31/2024 |
| 9302024 | 10312024 | 10-Q 9/30/2024 |
| 6302024 | 8012024 | 10-Q 6/30/2024 |
| 3312024 | 4302024 | 10-Q 3/31/2024 |
| 12312023 | 2212024 | 10-K 12/31/2023 |
| 9302023 | 10312023 | 10-Q 9/30/2023 |
| 6302023 | 8012023 | 10-Q 6/30/2023 |
| 3312023 | 5022023 | 10-Q 3/31/2023 |
| 12312022 | 2232023 | 10-K 12/31/2022 |
| 9302022 | 11042022 | 10-Q 9/30/2022 |
| 6302022 | 8032022 | 10-Q 6/30/2022 |
| 3312022 | 5032022 | 10-Q 3/31/2022 |
| 12312021 | 2232022 | 10-K 12/31/2021 |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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