Stock

Transocean

RIG

Oil & Gas Drilling · Energy

Also trades as: 0QOW.L GBP 0.06 (+7.27%)

Price

$6.41

+0.33 (+5.43%)

Market Cap

$7.16B

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Oct 23, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Mixed

12/30

Growth

Mixed

6/20

Cash Flow

Mixed

4/10

Stability

Mixed

4/10

Valuation

Data not available

0/10

Ownership

Good

8/15

Dividends

Not counted

n/a

34 of 95 counted points = Winston Score 36. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count rising — dilution

+50.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 637.0M (2021) → 960.0M (2025)

§Winston Score History

The full picture

Transocean is one of the world's largest offshore drilling contractors. It owns and operates a fleet of large drilling rigs that sit in deep ocean water and drill wells for oil and gas. Its main customers are big energy companies like Shell, Chevron, and BP, who hire Transocean's rigs and crews instead of owning that equipment themselves.

Transocean makes money by leasing its rigs to oil companies under contracts, charging a daily rate called a "day rate" that can range from hundreds of thousands to over a million dollars per day. It operates globally, with rigs working in the Gulf of Mexico, North Sea, Brazil, and West Africa. The company's edge comes from owning some of the most advanced ultra-deepwater and harsh-environment rigs in the world, which are expensive and difficult to replace. The biggest risk is that oil prices heavily influence whether energy companies keep spending on offshore drilling, making Transocean's revenue cyclical and hard to predict.

Politician Trades

1 trades / 12mo

1 Congressional buy and 0 sells on RIG in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-2.2% YoY

YoY Growth Rate

Revenue declining

Reported EPS Growth

+114.2% YoY

Quarterly reporting periods ended:

30 Jun 2025: $-1.06

30 Jun 2026: $0.15

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS increased year over year

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

9.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$509M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Transocean's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

37.1%

Modest — 37.1% gross margin

Profit after running costs

Operating Margin

15.7%

Healthy — 15.7% operating margin

Return on the money invested

ROCE

6.8%

Weak — 6.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+8.5%

Steady sales growth (+8.5% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

22.0%

Converts sales into free cash efficiently (22.0%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.61

Moderate — manageable debt (0.61)

Covers its interest

Interest Cover

1.51x

Dangerous — barely covers interest (1.5x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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