RIG (Transocean Ltd.) Stock Financials & Earnings | Market Cap Arena

RIG (Transocean Ltd.) Stock Financials & Earnings | Market Cap Arena

RIGTransocean Ltd.

Mkt Cap$6B

Energy·Oil & Gas Drilling·🇨🇭 Switzerland·NYSE

Revenue (TTM)$4.0B

Net Income (TTM)-$2.9B

EPS (TTM)-$3.20

Free Cash Flow (TTM)$626M

Gross Margin22.7%

Op. Margin17.8%

Net Margin-73.5%

FCF Margin15.8%

P/S Ratio (TTM)1.4x

P/E Ratio (TTM)—

YoY Rev Growth+12.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$649M	$240M	-$157M
Q2 23	$729M	$245M	-$42M
Q3 23	$713M	$189M	-$55M
Q4 23	$741M	$198M	-$71M
Q1 24	$763M	$240M	-$3M
Q2 24	$861M	$327M	-$59M
Q3 24	$948M	$385M	-$485M
Q4 24	$952M	$398M	$130M
Q1 25	$906M	$288M	$64M
Q2 25	$988M	$389M	-$964M
Q3 25	$1.0B	$867M	-$1.7B
Q4 25	$1.0B	-$644M	$3.3B

Valuation

Quarter	P/S	P/E
Q1 23	2.1x	—
Q2 23	2.1x	—
Q3 23	2.1x	—
Q4 23	2.0x	—
Q1 24	1.9x	—
Q2 24	1.8x	—
Q3 24	1.7x	—
Q4 24	1.6x	—
Q1 25	1.5x	—
Q2 25	1.5x	—
Q3 25	1.5x	—
Q4 25	1.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$47M	-$128M
Q2 23	$157M	$81M
Q3 23	-$44M	-$94M
Q4 23	$98M	-$122M
Q1 24	-$86M	-$169M
Q2 24	$133M	$49M
Q3 24	$194M	$136M
Q4 24	$206M	$177M
Q1 25	$26M	-$34M
Q2 25	$128M	$104M
Q3 25	$246M	$235M
Q4 25	$349M	$321M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$81M
Q2 23	$76M
Q3 23	$50M
Q4 23	$220M
Q1 24	$83M
Q2 24	$84M
Q3 24	$58M
Q4 24	$29M
Q1 25	$60M
Q2 25	$24M
Q3 25	$11M
Q4 25	$28M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+10.8%	+26.7%
Q2 23	+5.3%	+16.1%
Q3 23	+3.2%	+20.4%
Q4 23	+22.3%	+21.6%
Q1 24	+17.6%	-5.0%
Q2 24	+18.1%	+19.3%
Q3 24	+33.0%	+86.6%
Q4 24	+28.5%	+1.2%
Q1 25	+18.7%	+9.9%
Q2 25	+14.8%	+112.2%
Q3 25	+8.4%	+88.8%
Q4 25	+9.6%	-372.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$9M	1.4%
Q2 23	$11M	1.5%
Q3 23	$10M	1.4%
Q4 23	$10M	1.3%
Q1 24	$11M	1.4%
Q2 24	$15M	1.7%
Q3 24	$12M	1.3%
Q4 24	$9M	0.9%
Q1 25	$8M	0.9%
Q2 25	$8M	0.8%
Q3 25	$10M	1.0%
Q4 25	$9M	0.9%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$45M	—
Q2 23	$48M	—
Q3 23	$44M	—
Q4 23	$50M	$5M
Q1 24	$52M	—
Q2 24	$59M	—
Q3 24	$47M	—
Q4 24	$56M	$2M
Q1 25	$50M	—
Q2 25	$49M	—
Q3 25	$46M	—
Q4 25	$50M	—

Revenue Segments

Quarter

Revenue by Geography

Quarter	Norway	Other Countries	U.S.	Brazil	Other Geographical	United States
Q1 23	$148M	$132M	$352M	—	—	—
Q3 23	$164M	$189M	$360M	—	—	—
Q1 24	$151M	$87M	$370M	$155M	—	—
Q2 24	$163M	$142M	$406M	$150M	—	—
Q3 24	$172M	—	—	$204M	$177M	$395M
Q1 25	$159M	—	—	$192M	$161M	$394M
Q2 25	$140M	—	—	$221M	$219M	$408M
Q3 25	$177M	—	—	$223M	$228M	$400M
Q4 25	$163M	—	—	$236M	$211M	$433M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$955M	$0	$955M
Q2 23	$1.0B	$0	$1.0B
Q3 23	$808M	$0	$808M
Q4 23	$762M	$233M	$995M
Q1 24	$716M	$0	$716M
Q2 24	$875M	$0	$875M
Q3 24	$800M	$0	$800M
Q4 24	$560M	$0	$560M
Q1 25	$691M	$0	$691M
Q2 25	$772M	$0	$772M
Q3 25	$1.3B	$0	$1.3B
Q4 25	$997M	$0	$997M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	728M	+0.8%
Q2 23	761M	+4.5%
Q3 23	774M	+1.7%
Q4 23	809M	+4.5%
Q1 24	955M	+18.0%
Q2 24	824M	-13.7%
Q3 24	954M	+15.8%
Q4 24	940M	-1.5%
Q1 25	958M	+2.0%
Q2 25	888M	-7.3%
Q3 25	911M	+2.6%
Q4 25	960M	+5.4%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$700K	13K
FY 15	$812K	9K
FY 16	$771K	5K
FY 17	$607K	5K
FY 18	$450K	7K
FY 19	$468K	7K
FY 20	$478K	7K
FY 21	$387K	7K
FY 22	$390K	7K
FY 23	$429K	7K
FY 24	$608K	6K
FY 25	$708K	6K