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Transocean Ltd. (RIG) stock

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NYSE: RIG NYSE Oil & Gas Drilling Next results ~February 19, 2027

Transocean Ltd. is a US-listed company in the oil & gas drilling industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$4.9

Valuation models combined (2)

Base case. Range ~$3.2–$5.8. Weighted average of 2 models (forward price-to-earnings vs peers, forward price-to-sales vs peers).

Price vs value

No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Transocean Ltd. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

The Fundamentalytics view

Next results ~February 19, 2027 (estimated)

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 128% in the quarter to 2026-06-30.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Transocean Ltd.'s latest figures clears our strength thresholds.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 50% and a beta of 0.4 against the S&P 500.
  • Heavily shorted. 30.8% of the shares available to trade are sold short (7.6 days of average volume to cover).

Latest results

Earnings per share
$0.03 against an average estimate of $0.01: beat by 128.1%
Share reaction
-1.1% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Next report
November 2, 2026; average EPS estimate $0.07

Transocean's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-10.2%
  • 1 week-4.6%
  • 1 month+20.5%
  • This year+50.8%
  • 1 year+62.2%
  • 5 years+70.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Earnings

Last results
November 2, 2026
Next results (est.)
February 19, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Announcement
  3. Announcement
  4. Agreement
  5. Announcement
  6. Announcement
  7. Announcement
  8. Announcement
  9. Announcement
  10. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Transocean Ltd. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Valuation models

We value Transocean Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 8.7%: the 10-year Treasury yield (4.9%) plus a beta of 0.83 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: no revenue, margin or share count to start from
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$5.8 ~$4.5–$7.4 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: no twelve-month earnings or share count in the filings yet
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: no twelve-month earnings or share count in the filings yet
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$3.2 ~$3.1–$7.2 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$4.9 ~$3.2–$5.8 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Transocean Ltd. with Oil & Gas Drilling in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.15 +275% $3.9bn −1%
Next $0.30 +97% $3.9bn −1%

Next year's EPS estimate has moved +3.1% in 90 days, across 9 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +16.5% on 90 days ago. In the last 30 days, 1 analyst raised Transocean Ltd.'s forecast and 1 cut it.

Consensus EPS forecast Transocean Ltd., last 90 days
$0.10 $0.15 $0.20 $0.25 $0.30 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.13 Current fiscal year, 60 days ago: $0.15 Current fiscal year, 30 days ago: $0.16 Current fiscal year, 7 days ago: $0.16 Current fiscal year, Now: $0.15 $0.15 Next fiscal year, 90 days ago: $0.29 Next fiscal year, 60 days ago: $0.28 Next fiscal year, 30 days ago: $0.28 Next fiscal year, 7 days ago: $0.29 Next fiscal year, Now: $0.30 $0.30

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.13$0.29
60 days ago $0.15$0.28
30 days ago $0.16$0.28
7 days ago $0.16$0.29
Now $0.15$0.30

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.01 $0.03 +128.1%
Mar 2026 $0.08 −$0.03 −136.1%
Dec 2025 $0.07 $0.02 −72.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

13 analysts, Nov 2026
Buy646%
Hold538%
Sell215%

Monthly trend

  1. Nov 2026155213
  2. Oct 2026155213
  3. Sep 2026155213
  4. Aug 2026155213

Counts of recommendations published by analysts covering Transocean Ltd., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
30.8%
of tradable shares
Days to cover
7.58
at average volume
Short interest, 1 month
+13%
to October 15, 2026
Held by institutions
98%
of shares
Held by insiders
9.2%
of shares
Employees
5,220
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
RIG+20%+65%+39%−41%+10%+51%
Industry peers (median)+33%+96%+1%−30%−5%+56%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
RIG50%75%42%42%75%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
RIG−46%−53%−36%−48%−50%−36%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 96% from November 4, 2015 to October 30, 2020. Getting back needed a 2415% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.84 – $7.58
From 52-week high
−17.8%
vs 50-day average
+8.1%
vs 200-day average
+6.2%
Volatility (1 year)
51%
Beta vs S&P 500
0.42

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 7 down
typical move ±4.6%
After a week
5 up, 6 down
typical move ±6.1%
After a month
8 up, 3 down
typical move ±11.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −1.1% −0.4% +9.2% +15.3%
May 4, 2026 −8.6% +0.4% −4.2% −9.6%
February 20, 2026 +0.5% −0.3% +1.9% +1.6%
October 29, 2025 +4.3% −1.1% +4.0% +17.6%
August 4, 2025 +3.2% +1.0% +3.2% +6.0%
April 28, 2025 −5.6% +0.7% −1.3% +10.3%
February 18, 2025 −2.5% +0.5% −9.6% −10.8%
October 30, 2024 +10.7% −2.3% +19.1% +12.2%
July 31, 2024 −3.9% +0.2% −11.4% −16.5%
April 30, 2024 −9.5% −1.9% −1.7% +1.4%
February 20, 2024 −0.6% −0.5% −1.2% +24.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms . Generated November 3, 2026. Definitions in our methodology.

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Ultra Deepwater Floaters $2.8B 70.0% ▲ 10.3%
Harsh Environment Floaters $1.2B 30.0% ▲ 18.1%
Geography
Region Revenue Share YoY
United States $1.6B 41.2% ▲ 4.4%
Brazil $872M 22.0% ▲ 19.9%
Other Geographical $819M 20.7% ▲ 41.9%
NO $639M 16.1% ▼ 2.3%

From Transocean Ltd.'s 10-K filed February 23, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4.9B
Institutions reporting
532
Shares held vs prior quarter
▲ 10.8%
Positions opened / closed
69 / 71

Top buyers and sellers, Q2 2026: 258 institutions bought and 230 sold ; the biggest buyer was UBS Group AG (+20.3M shares) and the biggest seller Marshall Wace, LLP (−15.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $450M 91.9M 9.1% ▲ 4.0%
Dimensional Fund Advisors LP $249M 51.0M 5.1% ▲ 4.5%
Vanguard Portfolio Management LLC $241M 49.3M 4.9% ▲ 5.2%
Two Sigma Investments, LP $226M 46.2M 4.6% ▼ 0.6%
Vanguard Capital Management LLC $221M 45.2M 4.5% ▲ 2.1%
D. E. Shaw & Co., Inc. $204M 41.8M 4.2% ▲ 6.4%
Slate Path Capital LP $182M 37.3M 3.7% ▲ 24.0%
Capital World Investors $151M 31.0M 3.1% ▲ 4.7%
Geode Capital Management, LLC $140M 28.6M 2.8% ▲ 21.7%
State Street Corp $133M 27.1M 2.7% ▲ 8.7%
Morgan Stanley $131M 26.7M 2.7% ▲ 23.0%
UBS Group AG $129M 26.4M 2.6% ▲ 335.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Transocean Ltd.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $18.3M 4 trades by 4 insiders, last 12 months Insider sales History → $4.8M 11 trades by 5 insiders · 27% under pre-set plans
Net ▲ $13.4M net buying
Insider Date Trade Shares Price Value
Deaton Chad C Director July 2, 2026 Buy 35,000 $4.95 $173,250
Long Brady K EVP & Chief Legal Officer May 21, 2026 Sell 81,741 $7.45 $608,970
Mackenzie Roderick James EVP, Chief Commercial Officer March 4, 2026 Sell 78,370 $6.36 $498,433
Adamson Keelan PRESIDENT AND CEO January 27, 2026 Sell pre-set plan 58,687 $5.00 $293,435
Long Brady K EVP & Chief Legal Officer January 27, 2026 Sell pre-set plan 99,293 $5.00 $496,465
Adamson Keelan PRESIDENT AND CEO January 26, 2026 Sell pre-set plan 22,846 $5.00 $114,230
Long Brady K EVP & Chief Legal Officer January 26, 2026 Sell pre-set plan 16,085 $5.00 $80,425
Adamson Keelan PRESIDENT AND CEO December 5, 2025 Sell pre-set plan 57,968 $4.50 $260,856
Adamson Keelan PRESIDENT AND CEO December 4, 2025 Sell pre-set plan 8,469 $4.50 $38,110
Mackenzie Roderick James EVP, Chief Commercial Officer December 3, 2025 Sell 35,000 $4.48 $156,800
Thigpen Jeremy D Executive Chair November 26, 2025 Sell 500,000 $4.32 $2.2M
Vayda Robert Thaddeus EVP, Chief Financial Officer November 26, 2025 Sell 30,000 $4.29 $128,700

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 0 sales of Transocean Ltd. shares.

  • Lisa C. McClain(R-MI 9):Purchase, $15,001 - $50,000, traded September 14, 2026, filed October 12, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 19, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • August 5, 2026
  • May 4, 2026
  • February 20, 2026
  • October 29, 2025
  • August 4, 2025

Recent SEC filings

Data status

When each part of this page on Transocean Ltd. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Transocean Ltd. in brief

What does Transocean Ltd. do?
Transocean Ltd. is a US-listed company in the oil & gas drilling industry. Its financial year ends in December.
What is Transocean Ltd.'s stock ticker?
Transocean Ltd. trades under the ticker RIG on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are Transocean Ltd.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Dimensional Fund Advisors LP and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Are insiders buying or selling Transocean Ltd. stock?
Over the last 12 months, Transocean Ltd.'s directors and officers reported 4 open-market purchases and 11 sales on Form 4. The insider trading page charts every trade.
When is Transocean Ltd.'s next earnings date?
Around February 19, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Transocean Ltd. announces its own schedule.