Friday 6 November 2026 Export RIG’s income statement to Excel — free account

Transocean Ltd.

Transocean Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $4.0 billion, up 12.5% from fiscal 2024.

Revenue: −8.85%
EPS: +101.2%
Free cash flow: −49.4%
Total debt: −19.3%

Quarter to September 2026, against a year earlier

5.14 0.31 −5.69%

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Market cap: $5.7B
P/E: 20.3×
Fwd P/E: 22.1×
Dividend yield: —
F-score: 5/9
Altman Z: −0.53
Beneish M: −3.54
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Transocean Ltd. (RIG) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2016: revenue by products and services, and margins
Oil and Gas Service	3,705	89.04%
Product and Service, Other	456	10.96%
Gross margin		100.00%
Operating margin		26.58%
Pre-tax margin		22.45%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Ultra-deepwater floaters	2,777 70.04%	2,518 71.45%	2,072 73.16%	1,708 66.33%	1,720 67.29%	2,094 66.43%	1,957 63.37%	1,788 59.24%	—	—
Harsh environment floaters	1,188 29.96%	1,006 28.55%	760 26.84%	867 33.67%	836 32.71%	1,046 33.19%	1,069 34.62%	974 32.27%	—	—
Midwater floaters	—	—	—	—	—	12 0.38%	55 1.78%	74 2.45%	—	—
Deepwater floaters	—	—	—	—	—	—	7 0.23%	124 4.11%	—	—
High Specification Jackups	—	—	—	—	—	—	—	58 1.92%	—	—
Oil and Gas Service	—	—	—	—	—	—	—	—	2,731 91.86%	3,705 89.04%
Product and Service, Other	—	—	—	—	—	—	—	—	242 8.14%	456 10.96%
Revenue	3,965	3,524	2,832	2,575	2,556	3,152	3,088	3,018	2,973	4,161

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010
U.S.	1,635 41.24%	1,566 44.44%	1,433 50.60%	1,135 44.08%	1,098 42.96%	1,302 41.31%	1,264 40.93%	1,496 49.57%	1,527 51.36%	1,977 47.51%	2,416 32.71%	2,410 26.24%	2,382 25.75%	2,472 27.64%	1,971 24.55%	1,937 24.37%
Brazil	872 21.99%	727 20.63%	298 10.52%	240 9.32%	237 9.27%	—	—	—	335 11.27%	453 10.89%	673 9.11%	651 7.09%	—	1,114 12.45%	1,019 12.69%	1,288 16.20%
Other Countries	819 20.66%	577 16.37%	498 17.58%	365 14.17%	431 16.86%	974 30.90%	1,049 33.97%	871 28.86%	—	—	—	—	—	—	—	—
Norway	639 16.12%	654 18.56%	603 21.29%	835 32.43%	790 30.91%	876 27.79%	775 25.10%	651 21.57%	83 2.79%	214 5.14%	—	1,036 11.28%	1,208 13.06%	1,174 13.12%	897 11.17%	765 9.62%
Other Countries	—	—	—	—	—	—	—	—	1,028 34.58%	966 23.22%	3,158 42.76%	3,894 42.40%	4,478 48.42%	3,157 35.29%	3,041 37.88%	2,862 36.00%
United Kingdom	—	—	—	—	—	—	—	—	—	551 13.24%	1,139 15.42%	1,194 13.00%	1,181 12.77%	1,028 11.49%	1,099 13.69%	1,097 13.80%
Revenue	3,965	3,524	2,832	2,575	2,556	3,152	3,088	3,018	2,973	4,161	7,386	9,185	9,249	8,945	8,027	7,949

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Average daily revenue, harsh environment floaters	Q3 FY2026	$504,300.00	$467,100.00	+7.96%
Average daily revenue, ultra-deepwater floaters	Q3 FY2026	$442,100.00	$460,200.00	−3.93%
Backlog booked	Q3 FY2026	$2.0B	—	—
Revenue efficiency, harsh environment floaters	Q3 FY2026	97.7%	100.8%	—
Revenue efficiency, ultra-deepwater floaters	Q3 FY2026	96.4%	96.2%	—
Total fleet average daily revenue	Q3 FY2026	$462,600.00	$462,300.00	+0.06%
Total fleet average revenue efficiency	Q3 FY2026	96.8%	97.5%	—
Total fleet average rig utilization	Q3 FY2026	74.7%	76.0%	—
Utilization, harsh environment floaters	Q3 FY2026	95.1%	90.6%	—
Utilization, ultra-deepwater floaters	Q3 FY2026	67.6%	71.0%	—
Weighted average dayrate of contract backlog added	Q3 FY2026	$423,000.00	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
Average daily revenue, harsh environment floaters	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily revenue, ultra-deepwater floaters	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Backlog booked	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Revenue efficiency, harsh environment floaters	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Revenue efficiency, ultra-deepwater floaters	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total fleet average daily revenue	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total fleet average revenue efficiency	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total fleet average rig utilization	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization, harsh environment floaters	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utilization, ultra-deepwater floaters	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Weighted average dayrate of contract backlog added	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.