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Transocean Ltd.

Rank #422Startup

RIG · NYSE · Energy

Transocean Ltd. (RIG) — Rank #422 by gross profitability (GP/assets 0.10) · ROE -34.8% · Piotroski F-Score N/A.

As-of 2026-09-28 · CIK 0001451505 · all metrics point-in-time as of the filing date.

About

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells in Switzerland and internationally.

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The company contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. It also operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment semisubmersibles. It serves integrated energy companies and their affiliates, government-owned or government-controlled energy companies, and other independent energy companies. Transocean Ltd.

was founded in 1926 and is based in Zug, Switzerland.

Industry
Oil & Gas Drilling
Sector
Energy
State
V8
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Company Snapshot

P/S is the primary valuation lens for pre-profit companies.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

5,220

Industry

Oil & Gas Drilling

Exchange

NYSE

Signal Flags

1 green1 yellow2 red
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 1-quarter streak
Dilution above 2%Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation
Operating margin decliningOperating margin lower than prior year
Valuation convergenceEPS declining, shares diluting, and revenue growth decelerating simultaneously

Quality Profile

Profitability

1/1 pass
GP / assets
0.10
Return on equity
-34.8%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.81
Current ratio
1.59×
Net cash
$112.00M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
0.9%

Growth

1/2 pass
Revenue growth
12.5%
Piotroski F-Score
N/A
Share dilution
3.8%

Terry Smith quality gate

Passes 0/5 Terry Smith thresholds

2 of 5 thresholds not computable from filed data.

Burn rate (cash flow) is the primary read at this stage — TAM and product-market fit aren't metrics this dashboard tracks.

Profitability

Gross profitability (GP / assets)

0.10

Primary signal (Novy-Marx).

5th of 5 SIC 13 peers

Return on equity

-34.8%

Gross margin

39.3%

3rd of 5 SIC 13 peers

Revenue growth (YoY)

12.5%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

15.5%

Revenue CAGR (5Y)

4.7%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

—

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.81

3rd of 5 SIC 13 peers (best = lowest)

Current ratio

1.59×

3rd of 5 SIC 13 peers

Quick ratio

0.93×

Net cash

$112.00M

Cash & equivalents minus total debt.

Recession resistance

Revenue through recessions

Worst single-year YoY revenue decline, 19 years of history

Moderate
2008-2009 (GFC)
-8.8%Mild decline
2020 (COVID)
2.1%Grew through it
Worst year on record(any fiscal year, not recession-limited)
-43.7%Significant decline

Cash-flow health

Free cash flow

$626.00M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

1.21

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.9%

Stock-based comp intensity.

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20202025
Startup
Decline
Hypergrowth
View full financial statements →