Transocean (RIG) financial statements
Transocean reported revenue of $4.0B in fiscal 2025, down 0.5% a year over 9 years.
Net income was -$2.9B and the operating margin -58.9%, against 26.6% in 2016.
Free cash flow was $626M.
The diluted share count rose 162% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Transocean's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.2B | $3.0B | $3.0B | $3.1B | $3.2B | $2.6B | $2.6B | $2.8B | $3.5B | $4.0B |
| Cost of revenue | $1.9B | $1.4B | $1.8B | $2.1B | $2.0B | $1.7B | $1.7B | $2.0B | $2.2B | $2.4B |
| Gross profit | $2.3B | $1.6B | $1.2B | $948M | $1.2B | $859M | $896M | $846M | $1.3B | $1.6B |
| Selling, general and admin | $172M | $156M | $188M | $193M | $183M | $167M | $182M | $187M | $214M | $195M |
| Operating income | $1.1B | -$2.5B | -$1.3B | -$721M | -$493M | -$112M | -$31M | -$325M | -$417M | -$2.3B |
| Interest expense | $409M | $491M | $620M | $660M | $575M | $447M | $561M | $646M | $362M | $555M |
| Pre-tax income | $934M | -$3.0B | -$1.8B | -$1.2B | -$541M | -$470M | -$562M | -$941M | -$523M | -$2.9B |
| Income tax | $107M | $94M | $228M | $59M | $27M | $121M | $59M | $13M | -$11M | -$33M |
| Net income | $778M | -$3.1B | -$2.0B | -$1.3B | -$567M | -$592M | -$621M | -$954M | -$512M | -$2.9B |
| EPS (diluted) | $2.08 | -$8.00 | -$4.27 | -$2.05 | -$0.92 | -$0.93 | -$0.89 | -$1.24 | -$0.76 | -$3.04 |
| Diluted shares | 367M | 391M | 468M | 612M | 615M | 637M | 699M | 768M | 925M | 960M |
| Gross margin | 54.3% | 53.3% | 40.4% | 30.7% | 36.5% | 33.6% | 34.8% | 29.9% | 37.6% | 39.3% |
| Operating margin | 26.6% | -84.3% | -41.5% | -23.3% | -15.6% | -4.4% | -1.2% | -11.5% | -11.8% | -58.9% |
| Net margin | 18.7% | -105.2% | -66.1% | -40.6% | -18.0% | -23.2% | -24.1% | -33.7% | -14.5% | -73.5% |
Balance sheet
Fiscal years, from Transocean's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $3.1B | $3.0B | $2.2B | $1.8B | $1.2B | $976M | $683M | $762M | $560M | $620M |
| Receivables | $833M | $597M | $604M | $654M | $583M | $492M | $485M | $512M | $564M | $540M |
| Total current assets | $5.1B | $4.6B | $3.9B | $3.6B | $2.7B | $2.4B | $2.0B | $2.1B | $2.5B | $2.1B |
| Property, plant and equipment | $21.1B | $17.4B | $20.4B | $18.8B | $17.7B | $17.1B | $17.5B | $16.9B | $15.8B | $12.6B |
| Total assets | $26.9B | $22.4B | $25.7B | $24.1B | $21.8B | $20.7B | $20.4B | $20.3B | $19.4B | $15.6B |
| Total current liabilities | $2.0B | $1.4B | $1.5B | $1.7B | $1.4B | $1.3B | $1.6B | $1.4B | $1.7B | $1.3B |
| Long-term debt | $7.7B | $7.1B | $9.6B | $8.7B | $7.3B | $6.7B | $6.6B | $7.0B | $6.2B | $5.2B |
| Total liabilities | $11.1B | $9.7B | $12.6B | $12.2B | $10.4B | $9.5B | $9.6B | $9.8B | $9.1B | $7.5B |
| Shareholders' equity | $15.8B | $12.7B | $13.1B | $11.9B | $11.4B | $11.2B | $10.8B | $10.4B | $10.3B | $8.1B |
| Net debt | $5.4B | $4.9B | $7.8B | $7.5B | $6.7B | $6.2B | $6.7B | $6.7B | $6.3B | $5.0B |
Cash flow
Fiscal years, from Transocean's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.0B | $1.2B | $558M | $340M | $398M | $575M | $448M | $164M | $447M | $749M |
| Capital spending | $1.3B | $497M | $184M | $387M | $265M | $208M | $717M | $427M | $254M | $123M |
| Free cash flow | $636M | $673M | $374M | -$47M | $133M | $367M | -$269M | -$263M | $193M | $626M |
| Stock-based compensation | $42M | $41M | $45M | $37M | $31M | $28M | $29M | $40M | $47M | $35M |
| Net borrowing | -$2.3B | -$2.3B | -$2.1B | -$1.3B | -$1.6B | -$606M | -$554M | -$1.7B | -$2.1B | -$1.6B |
| Free cash flow margin | 15.3% | 22.6% | 12.4% | -1.5% | 4.2% | 14.4% | -10.4% | -9.3% | 5.5% | 15.8% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for RIG.
Open RIG in InvestinglyQuestions
What was Transocean's revenue in 2025?
$4.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Transocean generate?
$626M in fiscal 2025 (operating cash flow minus capital spending).
From Transocean's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.