RIG · Transocean Ltd.
$6.01
+0.17 (+2.91%)
At close · Aug 20
Market Cap
$6.71B
Shares
1.12B
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$6.01
Open$5.99
Day$5.93–6.06
52W close$2.80–7.58
Avg vol 30d43.9M
Short int254.4M · 22.8% float · 5.6d
Short vol58%
Last earningsAug 6, 2026
DataJan 2020–Aug 2026
Filing10-Q · Aug 7
Up next
Next earnings call
Nov 4, 2026
Est · unconfirmed
· in 11 wks
FQ3-26 quarter ends
~Sep 30, 2026
Est
filed Aug 7, 2026
AI Brief
TL;DR.
Bullish
Bearish
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Rating
blended score · not investment adviceOverall
Neutral
SellHoldBuy
Technical
Buy
Momentum
Neutral
Sentiment
Neutral
Fundamentals
Weak
Quant / Vol
High
Market backdrop
VIX 14.9 · calm
Equity put/call 0.52
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
+10%
above
Price vs 50-day avg
+12%
above
RSI (14)
67
neutral
MACD trend
Positive
52-week position
67%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
+13%
trailing
6-month return
−7%
trailing
YTD return
+46%
this year
Relative strength
−18%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $5 › 200d $5 — 200d above 50d
Institutional flow
Distributing
-2% holders QoQ · +75 funds added
Insider flow
Accumulating
Net +$173.3K over 90 days · 0% sells
Short interest
Rising
22.78% of float · ▲ +4.9% MoM · 5.6 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
539 holders — near 3-yr high, broad support
Squeeze score
76
high risk · 0–100
Fundamentals
Revenue growth
−29%
Y/Y
EPS growth
−300%
Y/Y
Free cash flow
$626.0M
Balance sheet
$7.6B
net debt
Quant / Vol
risk profile
Volatility
53%
annualized · 1-yr
Max drawdown
−36%
past year
ATR
3.8%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed May 4, 2026
Contract drilling revenues
· FY26E
$3.8B – $3.9B
Operating and maintenance expense
· FY26E
$2.25B – $2.38B
General and administrative
· FY26E
$170M – $180M
Interest expense
· FY26E
$610M
Interest income
· FY26E
$25M – $30M
Capital expenditures
· FY26E
$150M
Cash taxes
· FY26E
$70M – $75M
Total liquidity
· FY26E
$1.25B – $1.35B
Prior guidance
period ended
· from the 8-K filed May 4, 2026
Contract drilling revenues
· 2Q26E
$930M – $970M
Operating and maintenance expense
· 2Q26E
$630M – $660M
General and administrative
· 2Q26E
$40M – $45M
Interest expense
· 2Q26E
$113M
Interest income
· 2Q26E
$5M – $10M
Capital expenditures
· 2Q26E
$30M – $40M
Cash taxes
· 2Q26E
$30M
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Buy
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
+10%
Bullish
Price vs 50-day avg
+12%
Bullish
RSI (14)
67
Neutral
MACD trend
Positive
Bullish
52-week position
67%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Mixed
Trend (MA cross)
No cross
50d $5 › 200d $5 — 200d above 50d
Institutional flow
Distributing
-2% holders QoQ · +75 funds added
Insider flow
Accumulating
Net +$173.3K over 90 days · 0% sells
Short interest
Rising
22.78% of float · ▲ +4.9% MoM · 5.6 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
539 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $3
Now $6 · 67%
Range high $8
vs 200-day avg +10%
vs 50-day avg +12%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | $752M | Six months ended 06/30/26 | — |
|
|
|||
GAAP → non-GAAP reconciliationGAAP EBITDA $300M
+$12M Acquisition and restructuring costs
+$0M Gain on disposal of assets, net
+$0M Loss on retirement of debt
= Adjusted EBITDA $312M
|
|||
| Adjusted EBITDA margin non-GAAP | 36.7% | Six months ended 06/30/26 | — |
|
|
|||
| Adjusted Net Income (Loss) non-GAAP | $130M | YTD 06/30/26 | — |
GAAP → non-GAAP reconciliationGAAP Net income $170M
+$12M Acquisition and restructuring costs
+$3M Gain (loss) on disposal of assets, net
+$0M Loss on retirement of debt
-$27M Discrete tax items
= Adjusted Net Income (Loss) $158M
|
|||
| Aggregate incremental backlog | $292M | August 5, 2026 | — |
| Fleet size | 27 | As of August 5, 2026 | — |
| Free Cash Flow non-GAAP | $348M | Six months ended 06/30/26 | — |
|
|
|||
GAAP → non-GAAP reconciliationGAAP Net cash provided by operating activities $236M
-$24M Capital expenditures
= Free Cash Flow $212M
|
|||
| Incremental backlog added since February 2026 Fleet Status Report | $292M | August 2026 Fleet Status Report | — |
| Levered Free Cash Flow non-GAAP | -$238M | Six months ended 06/30/26 | — |
GAAP → non-GAAP reconciliationGAAP Free Cash Flow $212M
-$30M Debt repayments
+$0M Debt repayments, paid from debt proceeds
= Levered Free Cash Flow $182M
|
|||
| Net Debt non-GAAP | $4.31B | 06/30/26 | — |
| Net Debt to EBITDA Ratio non-GAAP | 2.8 | 06/30/26 | — |
| Total backlog | $6.7B | as of August 5, 2026 | — |
| Total fleet average daily revenue | $472,500 | Three months ended June 30, 2026 | — |
| Total fleet average rig utilization | 78.2% | Three months ended June 30, 2026 | — |
|
|
|||
| Ultra-deepwater floaters | 20 | As of August 5, 2026 | — |
| Contract backlog added | $839M | Full Year 2025 | — |
| Harsh environment floaters revenue efficiency | 97.2% | 4Q25 | — |
| Harsh environment floaters utilization | 96.6% | 4Q25 | — |
| Revenue efficiency | 96.5% | Full Year 2025 | — |
| Total fleet average revenue efficiency | 96.2% | 4Q25 | — |
| Ultra-deepwater floaters revenue efficiency | 95.7% | 4Q25 | — |
| Ultra-deepwater floaters utilization | 82.1% | 4Q25 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Oil & Gas Drilling — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
RIG
this stock
Transocean Ltd.
|
$6.71B | +45.5% | -28.6% | — | 22.8% |
|
NE
Noble Corp plc
|
$7.32B | +66.4% | +7.4% | 49.3 | 9.4% |
|
VAL
Valaris Ltd
|
$6.18B | +76.6% | +0.3% | 6.7 | 8.4% |
|
PTEN
Patterson Uti Energy Inc
|
$4.65B | +99.3% | -10.3% | — | 7.9% |
|
HP
Helmerich & Payne, Inc.
|
$4.37B | +53.8% | +35.9% | — | 8.4% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| RIG | +5.1% | +13.0% | -7.3% | +13.0% | +45.5% |
| SPY | -2.0% | +3.3% | +11.2% | +2.1% | +11.8% |
| vs SPY | +7.0% | +9.7% | -18.4% | +10.9% | +33.7% |
Capital returns
Buyback program
· as of Jun 30, 2026
Authorized
CHF 3.50B
Spent (derived)
CHF 260.00M
Remaining
CHF 3.24B
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1451505
CUSIP
H8817H100
13F (30d)
486 filings
469 filers
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