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RIG · Transocean Ltd.

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$5.80 +0.06 (+1.05%) At close · Aug 28
Russell 2000 member Rebalance outlook locked
Market Cap
$6.48B
Shares
1.12B

Price & Indicators

Indicators
Price
Panels
Event markers
20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$5.80 Open$5.74 Day$5.68–5.86 52W close$2.99–7.58 Avg vol 30d42.8M Short int268.9M · 24.1% float · 6.1d Short vol46% Last earningsAug 6, 2026 DataJan 2020–Aug 2026 Filing10-Q · Aug 7

Up next

Next earnings call
Nov 4, 2026 Est · unconfirmed · in 10 wks
FQ3-26 quarter ends
~Sep 30, 2026 Est
Latest filing: 10-Q
filed Aug 7, 2026

AI Brief

TL;DR.

Bullish
    Bearish

      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 advice
      Overall
      Neutral
      SellHoldBuy
      Technical Neutral Momentum Neutral Sentiment Neutral Fundamentals Weak Quant / Vol High
      Market backdrop VIX 14.4 · calm Equity put/call 0.62
      Technical
      price trend
      Neutral
      50 / 200-day cross No cross
      Price vs 200-day avg +5%
      above
      Price vs 50-day avg +8%
      above
      RSI (14) 57
      neutral
      MACD trend Negative
      52-week position 61%
      mid-range
      Volume (OBV) Confirms
      volume backs price
      Momentum
      relative strength
      Neutral
      1-month return +9%
      trailing
      6-month return −6%
      trailing
      YTD return +40%
      this year
      Relative strength −19%
      vs S&P · 6-mo
      Sentiment
      smart money
      Neutral
      Trend (MA cross) No cross
      50d $5 › 200d $6 — 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
      24.07% of float · ▲ +5.7% MoM · 6.1 days cover
      Volume signal Normal
      Volume near normal
      Institution breadth Multi-yr high
      542 holders — near 3-yr high, broad support
      Squeeze score 77
      high risk · 0–100
      Fundamentals
      Weak
      Revenue growth −29%
      Y/Y
      EPS growth −300%
      Y/Y
      Free cash flow $626.0M
      Balance sheet $5.0B
      net debt
      Quant / Vol
      risk profile
      High
      Volatility 52%
      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 Feb 20, 2026
      Contract drilling revenues · FY26E $3.8B – $3.95B
      Operating and maintenance expense · FY26E $2.25B – $2.38B
      Revenue efficiency, fleet wide · FY26E 96.5%
      Interest expense · FY26E $480M
      General and administrative · FY26E $170M – $180M
      Capital expenditures · FY26E $130M
      Cash taxes · FY26E $85M – $90M
      Total liquidity · FY26E $1.6B – $1.7B
      Prior guidance period ended · from the 8-K filed Feb 20, 2026
      Contract drilling revenues · 1Q26E $1.02B – $1.05B
      Revenue efficiency, fleet wide · 1Q26E 96.5%
      Operating and maintenance expense · 1Q26E $605M – $625M
      Interest expense · 1Q26E $125M
      General and administrative · 1Q26E $40M – $50M
      Capital expenditures · 1Q26E $35M – $45M
      Cash taxes · 1Q26E $15M

      Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

      Technicals

      trend & momentum for long-term holders Neutral
      1 · 4 · 2
      50 / 200-day cross
      No cross Neutral
      Price vs 200-day avg
      +5% Bullish
      Price vs 50-day avg
      +8% Bullish
      RSI (14)
      57 Neutral
      MACD trend
      Negative Bearish
      52-week position
      61% Neutral
      Volume (OBV)
      Confirms Neutral
      Market signals — smart money & positioning
      Mixed
      Trend (MA cross) No cross
      50d $5 › 200d $6 — 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
      24.07% of float · ▲ +5.7% MoM · 6.1 days cover
      Volume signal Normal
      Volume near normal
      Institution breadth Multi-yr high
      542 holders — near 3-yr high, broad support
      Price context
      position in its 52-week range
      Range low $3 Now $6 · 61% Range high $8
      vs 200-day avg +5% vs 50-day avg +8%

      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
      Operating days 1,922 Three months ended June 30, 2026 filing —
      GAAP → non-GAAP reconciliation
      GAAP EBITDA $300M
      +$12M Acquisition and restructuring costs
      +$0M Gain on disposal of assets, net
      +$0M Loss on retirement of debt
      = Adjusted EBITDA $312M
      Adjusted Net Income (Loss) non-GAAP $130M YTD 06/30/26 —
      GAAP → non-GAAP reconciliation
      GAAP 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
      Fleet size 27 As of August 5, 2026 —
      GAAP → non-GAAP reconciliation
      GAAP Net cash provided by operating activities $236M
      -$24M Capital expenditures
      = Free Cash Flow $212M
      Levered Free Cash Flow non-GAAP -$238M Six months ended 06/30/26 —
      GAAP → non-GAAP reconciliation
      GAAP 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 —
      Ultra-deepwater floaters 20 As of August 5, 2026 —
      Adjusted Diluted Loss Per Share non-GAAP -$0.03 YTD 03/31/26 —
      Adjusted Net Loss non-GAAP -$28M YTD 03/31/26 —
      GAAP → non-GAAP reconciliation
      GAAP Net income 71M
      +7M Acquisition and restructuring costs
      -5M Gain on disposal of assets, net
      +9M Loss on retirement of debt
      -110M Discrete tax items
      = Adjusted Net Loss -28M
      aggregate incremental backlog $1.6B as of May 4, 2026 —
      Contract backlog $7.1B As of May 4, 2026 —
      Contract backlog added $1.6B As of May 4, 2026 —
      EBITDA margin non-GAAP 39.4% Three months ended 03/31/26 —
      Total liquidity $1.13B Three months ended March 31, 2026 —
      Weighted average dayrate on new fixtures $410,000 1Q26 —
      Harsh environment floaters average daily revenue $449,800 Three months ended December 31, 2025 —
      Harsh environment floaters revenue efficiency 97.2% Three months ended December 31, 2025 —
      Harsh environment floaters utilization 96.6% Three months ended December 31, 2025 —
      Ultra-deepwater floaters average daily revenue $466,000 Three months ended December 31, 2025 —
      Ultra-deepwater floaters revenue efficiency 95.7% Three months ended December 31, 2025 —
      Ultra-deepwater floaters utilization 82.1% Three months ended December 31, 2025 —

      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
      Open screener →
      Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
      RIG
      Transocean Ltd.
      this stock
      		$6.48B +40.4% -28.6% — 24.1%
      NE
      Noble Corp plc
      		 $7.46B +62.0% +7.4% 50.3 9.3%
      VAL
      Valaris Ltd
      		 $5.99B +71.2% +0.3% 6.5 8.5%
      PTEN
      Patterson Uti Energy Inc
      		 $4.67B +103.4% -10.3% — 7.6%
      HP
      Helmerich & Payne, Inc.
      		 $4.24B +48.4% +35.9% — 8.3%

      Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

      At a glance

      key data from every section
      Ownership
      Institutional Holders Accumulating
      Holders
      542
      % held
      95.9%
      Net QoQ
      +90.4M sh
      Top holder
      BlackRock, Inc.
      Held Float
      View
      Held by Funds
      Fund positions
      114
      View
      Short & Settlement
      Short Interest Rising
      Shares short
      268.9M
      Days to cover
      6.1d
      Change
      +14.5M sh
      View
      Short Volume
      Short vol %
      46%
      As of
      Aug 28, 2026
      Short Total
      View
      Fails to Deliver
      FTD shares
      30
      Value
      $159
      As of
      Jul 23, 2026
      View
      Off-Exchange
      Off-exchange %
      57.3%
      Week of
      Jul 20, 2026
      Off-exch Lit
      View
      Smart Money
      Insider Trades Net buying
      Net (90d)
      +$173.3K
      Buyers / Sellers
      1 / 0
      Buyers Sellers
      View
      Financials
      Financials
      Revenue (FY)
      $4.0B
      Net income (FY)
      $-2.9B
      EPS diluted
      $-3.04
      View
      Buybacks
      Authorized
      CHF 3.5B
      Remaining
      CHF 3.2B
      Spent Remaining
      View
      Filings
      SEC Filings
      Latest
      8-K
      Filed
      Aug 20, 2026
      This year
      21
      View
      Proposed Sales
      Value
      $609.2K
      Shares
      81.7K
      Filed
      May 21, 2026
      View
      Earnings & Events
      Earnings Calls
      Last call
      Aug 6, 2026
      View
      Investor Relations
      Latest news
      Transocean Ltd. Announces $300 Mi…
      Published
      Aug 20, 2026
      View

      Performance

      5D 20D 120D MTD YTD
      RIG -2.0% +9.0% -6.0% +9.0% +40.4%
      SPY +0.5% +3.0% +13.4% +3.0% +12.8%
      vs SPY -2.5% +6.0% -19.4% +6.0% +27.6%

      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) 414 filings 407 filers Visit website Investor relations

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