Transocean Ltd. (RIG) Income Statement
RIG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsRIG revenue and net income
Where RIG's revenue goes
2025Each bar shows an amount and its share of revenue. RIG kept −73.5% of revenue as net income.
RIG profit margins
RIG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +12.5% | +15.5% | +4.7% | −6.0% |
| Gross profit | +18.7% | +21.6% | +6.9% | −6.4% |
| Operating income | +89.5% | — | — | −6.4% |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | −38.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
RIG quarterly EPS vs estimates
Transocean beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 2, 2026 (estimate $0.03).
RIG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.96B | $3.52B | $2.83B | $2.58B | $2.56B | $3.15B | $3.09B | $3.02B | $2.97B | $4.16B |
| Cost of revenue | $659.0M | $739.0M | $744.0M | $735.0M | $742.0M | $781.0M | $855.0M | $818.0M | $832.0M | $893.0M |
| Gross profit | $3.31B | $2.79B | $2.09B | $1.84B | $1.81B | $2.37B | $2.23B | $2.20B | $2.14B | $3.27B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $195.0M | $216.0M | $192.0M | $184.0M | $173.0M | $209.0M | $194.0M | $205.0M | $156.0M | $192.0M |
| Total operating expenses | $2.60B | $2.41B | $2.17B | $1.86B | $1.93B | $2.86B | $2.95B | $3.45B | $4.65B | $2.16B |
| Operating income | $705.0M | $372.0M | −$85.0M | −$21.0M | −$112.0M | −$493.0M | −$721.0M | −$1.25B | −$2.50B | $1.11B |
| Interest income | $40.0M | $50.0M | $52.0M | $27.0M | $15.0M | $554.0M | $43.0M | $53.0M | $43.0M | $20.0M |
| Interest expense | $555.0M | $362.0M | $646.0M | $561.0M | $447.0M | $575.0M | $660.0M | $620.0M | $491.0M | $409.0M |
| Income before taxes | −$2.95B | −$523.0M | −$941.0M | −$562.0M | −$470.0M | −$541.0M | −$1.20B | −$1.77B | −$3.00B | $934.0M |
| Income taxes | −$33.0M | −$11.0M | $13.0M | $59.0M | $121.0M | $27.0M | $59.0M | $228.0M | $94.0M | $107.0M |
| Net income | −$2.92B | −$512.0M | −$954.0M | −$621.0M | −$592.0M | −$567.0M | −$1.25B | −$2.00B | −$3.13B | $778.0M |
| EBITDA | −$1.73B | $582.0M | $501.0M | $851.0M | $939.0M | $1.03B | $504.0M | −$225.0M | −$1.68B | $2.24B |
| EPS (diluted) | $0.03 | −$0.20 | −$0.98 | −$0.93 | −$0.75 | −$0.87 | −$1.45 | −$0.80 | −$0.06 | $1.30 |
| Gross margin | 83.4% | 79.0% | 73.7% | 71.5% | 71.0% | 75.2% | 72.3% | 72.9% | 72.0% | 78.5% |
| Operating margin | 17.8% | 10.6% | −3.0% | −0.8% | −4.4% | −15.6% | −23.3% | −41.5% | −84.3% | 26.6% |
| Net margin | −73.5% | −14.5% | −33.7% | −24.1% | −23.2% | −18.0% | −40.6% | −66.1% | −105.2% | 18.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $966.0M | $1.08B | $1.04B | $1.03B | $988.0M | $906.0M | $952.0M | $948.0M | $861.0M | $763.0M | $741.0M | $713.0M |
| Cost of revenue | $608.0M | $143.0M | $147.0M | $161.0M | $175.0M | $176.0M | $180.0M | $190.0M | $184.0M | $185.0M | $184.0M | $192.0M |
| Gross profit | $358.0M | $938.0M | $896.0M | $867.0M | $813.0M | $730.0M | $772.0M | $758.0M | $677.0M | $578.0M | $557.0M | $521.0M |
| Sales, general & admin | $56.0M | $49.0M | $50.0M | $46.0M | $49.0M | $50.0M | $58.0M | $47.0M | $59.0M | $52.0M | $55.0M | $44.0M |
| Total operating expenses | $206.0M | $655.0M | $655.0M | $630.0M | $648.0M | $668.0M | $635.0M | $1.24B | $736.0M | $581.0M | $628.0M | $576.0M |
| Operating income | $152.0M | $283.0M | $241.0M | $237.0M | $165.0M | $62.0M | $137.0M | −$485.0M | −$59.0M | −$3.0M | −$71.0M | −$55.0M |
| Interest income | $32.0M | $10.0M | $10.0M | $12.0M | $102.0M | $8.0M | $10.0M | $11.0M | $14.0M | $15.0M | $10.0M | $12.0M |
| Interest expense | $20.0M | $276.0M | $173.0M | $154.0M | $112.0M | $116.0M | $91.0M | $80.0M | $74.0M | $117.0M | $3.0M | $232.0M |
| Income before taxes | $184.0M | $17.0M | $82.0M | −$1.90B | −$1.09B | −$40.0M | $62.0M | −$525.0M | $33.0M | −$93.0M | −$83.0M | −$263.0M |
| Income taxes | $14.0M | −$54.0M | $57.0M | $26.0M | −$155.0M | $39.0M | $55.0M | −$31.0M | $156.0M | −$191.0M | $21.0M | −$43.0M |
| Net income | $170.0M | $71.0M | $25.0M | −$1.92B | −$938.0M | −$79.0M | $7.0M | −$494.0M | −$123.0M | $98.0M | −$104.0M | −$220.0M |
| EBITDA | $280.0M | $436.0M | $402.0M | −$1.58B | −$806.0M | $252.0M | $333.0M | −$255.0M | $291.0M | $213.0M | $105.0M | $169.0M |
| EPS (diluted) | $0.03 | −$0.03 | $0.02 | $0.06 | $0.02 | −$0.07 | −$0.09 | $0.07 | −$0.15 | −$0.03 | −$0.09 | −$0.36 |
| Gross margin | 37.1% | 86.8% | 85.9% | 84.3% | 82.3% | 80.6% | 81.1% | 80.0% | 78.6% | 75.8% | 75.2% | 73.1% |
| Operating margin | 15.7% | 26.2% | 23.1% | 23.1% | 16.7% | 6.8% | 14.4% | −51.2% | −6.9% | −0.4% | −9.6% | −7.7% |
| Net margin | 17.6% | 6.6% | 2.4% | −187.1% | −94.9% | −8.7% | 0.7% | −52.1% | −14.3% | 12.8% | −14.0% | −30.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RIG's financial statements (latest annual report filed February 23, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RIG financial results
In fiscal year 2025 (ended December 31, 2025), Transocean reported revenue of $4.0 billion, up 12.5% from the year before. It had a net loss of $2.9 billion, a net profit margin of −73.5%. Diluted earnings per share came to $0.03. Over five years revenue grew at an average rate of 4.7% a year.
See the RIG stock overview for the latest quote and news, or the RIG chart for price history and technical indicators.
RIG income statement FAQ
What is Transocean's annual revenue?
Transocean reported total revenue of $4.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 12.5% from $3.5 billion the previous year.
Is Transocean profitable?
No. Transocean reported a net loss of $2.9 billion in fiscal 2025, a net profit margin of −73.5%; its operating margin was 17.8%.
What is Transocean's gross margin?
Transocean's gross margin was 83.4% in fiscal 2025: for every $100 of revenue, Transocean kept $83 after the direct cost of its products and services.
How fast is Transocean growing?
Revenue grew 4.7% a year on average over the last five fiscal years, from $3.2 billion to $4.0 billion.
What are Transocean's earnings per share?
Transocean earned $0.03 per diluted share in fiscal 2025, compared with $-0.20 a year earlier.
When will Transocean report its next earnings?
Transocean is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 after the market closes.
When does Transocean's fiscal year end?
Transocean's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 23, 2026.