Transocean Ltd. (RIG) Stock Price & Analysis
Transocean Ltd. (RIG) closed at USD 6.08 on Thursday, October 22, 2026, up 0.66% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 6.04; the Oct 22, 2026 session ranged USD 5.75–6.11 on volume of 54,709,865 shares. Market capitalization is $6.79B, with a 52-week range of USD 3.5–7.66 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:48 UTC.
Also available as compact Markdown for AI agents: nexqual.com/RIG.md
Key facts (RIG)
- Last four reported quarters (through Jun 30, 2026): revenue $4.12B, net income -$1.66B (-40.2% margin), free cash flow $904M (SEC filings).
- 2 of 80 tracked superinvestors hold RIG (13F, Q2 2026): 0 new, 1 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $609K; 1 not under a Rule 10b5-1 plan ($609K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $173K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 2.77 on a 1–5 scale) (13 analysts), mean target USD 6.56 (range 4.5–10).
- Total return with dividends: 1Y +56.3% vs S&P 500 +14.9%; 5Y +55.9% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD 0.02, revenue estimate $942M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (RIG)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.56B | $2.58B | $2.83B | $3.52B | $3.96B | $4.12B |
| Gross profit | $859M | $896M | $846M | $1.32B | $1.56B | — |
| Operating income | -$112M | -$31.0M | -$325M | -$417M | -$2.34B | -$998M |
| Net income | -$592M | -$621M | -$954M | -$512M | -$2.92B | -$1.66B |
| EPS (diluted) | -$0.93 | -$0.89 | -$1.24 | -$0.76 | -$3.04 | — |
| Free cash flow | $367M | -$269M | -$263M | $193M | $626M | $904M |
| Gross margin | 33.6% | 34.8% | 29.9% | 37.6% | 39.3% | — |
| Operating margin | -4.4% | -1.2% | -11.5% | -11.8% | -58.9% | -24.2% |
| Net margin | -23.2% | -24.1% | -33.7% | -14.5% | -73.5% | -40.2% |
| Revenue growth | -18.9% | +0.7% | +10.0% | +24.4% | +12.5% | — |
| Cash + short-term investments | $976M | $683M | $762M | $560M | $620M | — |
| Total debt | $7.17B | $7.35B | $7.41B | $6.88B | $5.66B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (RIG)
P/S 1.6x · EV/Sales 2.8x · P/FCF 7.5x · P/B 0.8x · FCF yield 13.31% · Earnings yield -24.40% · Net debt $4.61B · EV $11.4B
Superinvestors (SEC 13F-HR, Q2 2026) (RIG)
2 of 80 tracked investors hold RIG. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mohnish Pabrai | Pabrai Investments | 30.53% | $99.7M | Added +0.0% |
| Van Den Berg Management I | 0.02% | $89K | Reduced -34.2% |
Insider sales (SEC Form 4, open-market, last ~7 months) (RIG)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-21 | Long Brady K | EVP & Chief Legal Officer | 81,741 | $609K | 6.8% | No | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (RIG)
1 purchase, $173K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-07-02 | Deaton Chad C | Director | 35,000 | $173K | 4.95 | Too little history (no open-market trades in 2024 or 2025) |
Analysts (RIG)
Consensus Hold (mean 2.77 on a 1–5 scale), 13 analysts; mean target USD 6.56 (low 4.5, high 10).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-12 | Barclays | Target lowered | Overweight | $8 → $7 |
| 2026-07-08 | Susquehanna | Target lowered | Positive | $8 → $7 |
Total return (dividends reinvested) (RIG)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +56.3% | +55.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +56.5% | +9.3% |
| Volatility (annualized) | 49.1% | 60.0% |
| Max drawdown | -35.8% (May 2026→Jul 2026) | -74.8% (Aug 2023→Mar 2025) |
RIG revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Ultra Deepwater Floaters | $623.0M | 64.5% | -10.9% |
| Harsh Environment Floaters | $343.0M | 35.5% | +18.7% |
| Total revenue | $966.0M | 100% | — |
RIG revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $344.0M | 35.6% | -15.7% |
| Norway | $177.0M | 18.3% | +26.4% |
| Other Geographical | $171.0M | 17.7% | +34.6% |
| Brazil | $167.0M | 17.3% | -24.4% |
| Australia | $107.0M | 11.1% | +16.3% |
| Total revenue | $966.0M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
RIG suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Shell (SHEL) | “For the year ended December 31, 2025, our most significant customers were Petróleo Brasileiro S.A. (together with its affiliates, "Petrobras"), Shell plc (together with its affiliates, "Shell") and Equinor ASA (together with its affiliates, "Equinor"), representing 22 percent, 22 percent and 12 percent, respectively, of our consolidated operating revenues.” |
| Customer | Chevron (CVX) | “As of February 19, 2026, the customers with the most significant aggregate amount of contract backlog associated with our drilling contracts were Petrobras, Equinor, BP p.l.c., Shell, Chevron Corporation and Woodside Energy Group Ltd., representing 20 percent, 16 percent, 16 percent, 12 percent, 11 percent and 10 percent, respectively, of our total contract backlog.” |
| Customer | WOODSIDE ENERGY GROUP LTD (WDS) | “As of February 19, 2026, the customers with the most significant aggregate amount of contract backlog associated with our drilling contracts were Petrobras, Equinor, BP p.l.c., Shell, Chevron Corporation and Woodside Energy Group Ltd., representing 20 percent, 16 percent, 16 percent, 12 percent, 11 percent and 10 percent, respectively, of our total contract backlog.” |
Quoted from the company's 10-K filed Feb 23, 2026.
RIG customer concentration
In the period ended Dec 31, 2025, 3 direct customers each accounted for at least 10% (22%, 22%, 12%) of revenue, per the company's 10-K filed Feb 23, 2026. The company does not name them.
RIG analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.02 | $0.03 | -28.0% | $942.3M | 9 |
| Next quarter (ends Dec 2026) | $0.07 | $0.06 | +11.9% | $956.0M | 8 |
| Current fiscal year (ends Dec 2026) | $0.15 | $0.13 | +16.5% | $3.94B | 8 |
| Next fiscal year (ends Dec 2027) | $0.30 | $0.29 | +3.1% | $3.91B | 9 |
Key Statistics (as of October 23, 2026 at 09:48 UTC)
| Price | USD 6.08 |
|---|---|
| Change | ▲ 0.66% (up) |
| Previous Close | USD 6.04 |
| Open | USD 6.04 |
| Day Range | USD 5.75 – 6.11 |
| 52-Week Range | USD 3.5 – 7.66 |
| Volume | 54,709,865 shares |
| Market Cap | $6.79B |
| Exchange | NYQ |
Technical Analysis (RIG)
Nexqual's technical model rates RIG "BUY" based on 5 bullish and 2 bearish signals across 127 daily candles, as of October 23, 2026 at 09:48 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 63.5 (neutral) |
| vs SMA50 | Above (USD 5.66) |
| MACD | 0.1 (positive) |
Analyst Ratings (RIG)
Wall Street analysts rate RIG "Hold" based on 13 analysts, with a mean price target of USD 6.56 (range USD 4.5–10), per Nexqual as of October 23, 2026 at 09:48 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 13 |
| Mean Target | USD 6.56 |
| High Target | USD 10 |
| Low Target | USD 4.5 |
| Buy / Hold / Sell | 6 / 5 / 2 |
Earnings (RIG)
| Next Earnings Date | 2026-11-02 |
|---|---|
| EPS Estimate | USD 0.02 |
| Revenue Estimate | $942.29M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.03 vs est 0.01 ▲ beat |
| 2026-03-31 | USD -0.03 vs est 0.08 ▼ miss |
| 2025-12-31 | USD 0.02 vs est 0.07 ▼ miss |
| 2025-09-30 | USD 0.06 vs est 0.03 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Financials & Fundamentals (RIG)
| Total Revenue | $4.12B |
|---|---|
| Revenue Growth (latest quarter, YoY) | -2.20% |
| Gross Margin | +42.47% |
| Operating Margin | +17.39% |
| Profit Margin | -40.24% |
| ROE | -18.70% |
| Debt / Equity | 0.61 |
| Current Ratio | 1.59 |
| Total Cash | $509.00M |
| Total Debt | $5.12B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $904.00M (22.0% of revenue) |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Financial Health Score (RIG)
Nexqual rates Transocean Ltd.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:48 UTC.
| Growth | Solid — Revenue +13% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 42%, operating 17% (last 12 months) |
| Balance Sheet | Solid — $509M cash and investments vs $5.12B debt (Jun 2026, SEC) |
| Cash Flow | Strong — FCF $904M (last 4 quarters to Jun 2026, SEC), 22% margin |
| Efficiency | Critical — ROE -19%, ROA 3.7% |
Ownership (RIG)
| Insider Ownership | +9.24% |
|---|---|
| Institutional Ownership | +95.46% |
| Shares Outstanding | 1.12B |
| Float | 923.62M |
| Short % of Float | +29.41% |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Leadership (RIG)
Transocean Ltd. is led by Keelan I. Adamson, President, CEO & Director, per Nexqual as of October 23, 2026 at 09:48 UTC.
| President, CEO & Director | Keelan I. Adamson |
|---|---|
| Executive VP & CFO | Robert Thaddeus Vayda |
| Executive Vice President of Operations | Paul Johnson |
| Director of Investor Relations | Alison Johnson |
| Senior Vice President of Human Capital Management, Administrative Services & Communications | Janelle Daniel |
Major Backers & Investors (RIG)
Notable institutional backers of Transocean Ltd. include Two Sigma Investments, LP, Shaw D.E. & Co., Inc., Slate Path Capital, LP, according to Nexqual as of October 23, 2026 at 09:48 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Two Sigma Investments, LP | 4.14% |
| Shaw D.E. & Co., Inc. | 3.74% |
| Slate Path Capital, LP | 3.34% |
| Capital Group | 2.77% |
| American Century ETF Trust-Avantis U.S. Small Cap Value ETF | 2.38% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 8.46% |
| BlackRock | 8.23% |
| Dimensional Fund Advisors | 4.57% |
| Geode Capital | 2.56% |
| State Street | 2.43% |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
From Transocean Ltd.'s Latest SEC 10-K Filing (filed 2026-02-23)
Key Strengths & Strategy (as disclosed to the SEC)
- We use our smart equipment analytics tool to deliver real-time data feeds from equipment across our fleet to monitor equipment health, inferred emissions and energy consumption while identifying performance trends that allow us to systematically optimize equipment maintenance and achieve higher levels of reliability, operational efficiency and sustainability.
Legal & Regulatory Risks (Item 1A, quoted)
- Environmental and safety laws and regulations protecting the environment have become increasingly stringent and may in some cases impose strict liability on facility or vessel owners or operators, rendering a person liable for environmental damage without regard to negligence.
- Regulatory and various other risks, including litigation, associated with greenhouse gas emissions, other emissions and climate change could have an adverse impact on our business and demand for our services.
- We could also face increased climate-related litigation with respect to our operations both in the U.S. and around the world.
- Any restrictions on oil and natural gas operations on the U.S. Outer Continental Shelf could have an adverse impact on our business and demand for our services.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| NE | Noble Corporation plc A | USD 43.95 | ▼ 0.14% |
| VAL | Valaris Limited | USD 92.19 | ▲ 0.51% |
| PTEN | Patterson-UTI Energy, Inc. | USD 11.34 | ▼ 2.91% |
| HP | Helmerich & Payne, Inc. | USD 37.13 | ▼ 2.93% |
| SDRL | Seadrill Limited | USD 49.19 | ▲ 0.04% |
| BORR | Borr Drilling Limited | USD 4.08 | ▼ 3.32% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:48 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt