RIG at a glance
Transocean Ltd. (RIG, SEC CIK 1451505) filed its latest 10-K annual report on February 23, 2026, a 10-Q quarterly report on August 7, 2026, an 8-K current report on September 30, 2026 and Form 4 insider filings as recently as July 7, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Transocean Ltd. (RIG) reported revenue of $4.0 billion (up 12.5% from FY2024) and a net loss of $2.9 billion. Diluted EPS was -$3.04.
- As of June 30, 2026, 34 institutional investment managers tracked by SignalX reported holding Transocean Ltd. (RIG) shares worth $2.3 billion in 13F-HR filings.
- The most recent insider open-market purchase reported on Form 4 was by DEATON CHAD C on July 2, 2026 of 35,000 shares at $4.95 per share.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $4.0B
- +12.5% vs prior year
- Insiders · 90 days
- 0 buys · 0 sells
- No open-market trades
- 13F holders
- 34 funds
- $2.3B · +0 vs prior quarter
- Latest 8-K
- Sep 30, 2026
- Item 8.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: offshore contract drilling services with 27 mobile offshore drilling units focused on ultra-deepwater and harsh environment regions
- New strategic development: agreement to acquire Valaris via share exchange at ratio 15.235 Transocean shares per Valaris share
- Competitive positioning shift: planned business combination with Valaris to potentially expand drilling fleet and market presence
- Quantitative metric: fleet comprises 20 ultra-deepwater drillships and 7 harsh environment semisubmersibles as of February 17, 2026
- Noteworthy fact: Transocean is a Swiss corporation with principal executive offices in Steinhausen, Switzerland, listed on NYSE under "RIG"
Risk Factors
- Legal risk: net non-cash loss $20M in 2025 linked to certain legal outcomes vs net gain $25M in 2024
- Macroeconomic threat: below investment grade debt rating causing increased fees and interest rates, restricting capital market access
- Supply chain risk: inflation increased personnel and operating costs by approximately $35M in 2025
- Market disruption risk: newbuild ultra-deepwater drillship Deepwater Aquila drove $70M revenue increase, highlighting fleet modernization impact
- Financial risk: Secured Credit Facility restricts liquidity with minimum $200M cash, collateral coverage and leverage covenants through 2028
Management Discussion & Analysis
- Contract backlog $6.06B as of Feb 19, 2026, down from $8.33B in Feb 2025, reflecting a 27% YoY decline
- Uncommitted fleet rate rising: ultra-deepwater floaters 36% in 2026 to 98% in 2030, harsh environment floaters 5% in 2026 to 100% by 2029
- $3.05B asset impairments in 2025, mainly ultra-deepwater and harsh environment floaters classified as held-for-sale
- Cash inflows: $421M from share issuance; $492M from $500M 7.875% senior notes issuance; cash outflows: $903M debt redemption, $100M tender offers, $36M note repurchases
- Management outlook positive on offshore drilling demand, citing energy security focus and favorable deepwater economics despite customer capital spending discipline
AI summary of the RIG 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Single operating segment: offshore contract drilling; fleet 27 units as of July 28, 2026
- Near-term outlook tied to offshore drilling demand, commodity prices, utilization, dayrates, and customer programs
- Liquidity risks include Secured Credit Facility availability, debt maturities, and adequacy of operating cash flows
- Capital deployment commentary limited to upgrades, shipyards, reactivations, acquisitions, and proposed Valaris combination
Risk Factors
- Risk-factors section not provided; supplied text begins with Item 2 and contains no 10-K comparison
- Proposed Valaris combination creates execution and integration exposure under the February 9, 2026 Business Combination Agreement
- Rule 10b5-1 insider-sale compliance risk: plans cover up to 198,622 and 262,103 shares
- Share-repurchase authorization leaves $4.01 billion available, potentially affecting capital allocation and liquidity
AI summary of the RIG 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 8.01: Other Events
- DOJ closed its HSR investigation, removing a key U.S. antitrust obstacle to Transocean’s Valaris acquisition
- Valaris shareholders to receive 15.235 Transocean shares per Valaris share, creating substantial equity issuance and dilution considerations
Item 7.01: Regulation FD Disclosure
- Deepwater Conqueror awarded two-well, 170-day Equatorial Guinea contract beginning 2027
- Approximately $80 million added to backlog, excluding additional services and mobilization compensation
Item EX-99.1: Item EX-99.1
- Deepwater Conqueror secured a two-well Equatorial Guinea contract worth approximately $80 million backlog
- Estimated 170-day campaign begins in 2027, directly following the rig’s current U.S. Gulf contract
Item 7.01: Regulation FD Disclosure
- Two-year binding Letter of Award with ONGC for Dhirubhai Deepwater KG2
- Approximately $300 million contract value, including additional services and mobilization fees
Item EX-99.1: Item EX-99.1
- Two-year binding Letter of Award with ONGC for Dhirubhai Deepwater KG2
- Approximately $300 million contract value, including additional services and mobilization fees
AI summaries of RIG 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for RIG
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| DEATON CHAD C | Buy | Jul 2, 2026 | 35,000 | $4.95 |
| Mohn Frederik Wilhelm | F | May 26, 2026 | 25,597 | $6.70 |
| Lacey William F. | F | May 26, 2026 | 20,934 | $6.70 |
| DEATON CHAD C | F | May 26, 2026 | 20,932 | $6.70 |
| DEATON CHAD C | M | May 22, 2026 | 82,353 | $6.81 |
| INTRIERI VINCENT J | A | May 22, 2026 | 30,435 | - |
| Lacey William F. | A | May 22, 2026 | 30,435 | - |
| Barker Glyn Anthony | A | May 22, 2026 | 30,435 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $3.5B | $4.0B |
| Operating Income | - | -$417.0M | -$2.3B |
| Net Income | -$954.0M | -$512.0M | -$2.9B |
| Op. Margin | - | -11.8% | -58.9% |
| Net Margin | - | -14.5% | -73.5% |
| Balance Sheet | |||
| Total Assets | $20.3B | $19.4B | $15.6B |
| Equity | - | $10.3B | $8.1B |
| ROE | - | -5.0% | -36.0% |
| Per Share | |||
| EPS | $-1.24 | $-0.76 | $-3.04 |
| Cash Flow | |||
| Operating CF | - | $447.0M | $749.0M |
| CapEx | $427.0M | $254.0M | $123.0M |
Source: XBRL data in Transocean Ltd. (RIG)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate RIG share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 34 | $2.27B |
| Q1 2026 | 34 | $2.83B |
| Q4 2025 | 30 | $1.69B |
| Q3 2025 | 30 | $1.11B |
| Q2 2025 | 29 | $815.1M |
| Q1 2025 | 26 | $700.3M |
| Q4 2024 | 23 | $688.9M |
| Q3 2024 | 20 | $395.6M |
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Source: 13F-HR filings on SEC EDGAR (aggregated from 226 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
RIG filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Sep 30, 2026 | - | Analysis | - |
| 8-K | Sep 15, 2026 | - | Analysis | - |
| 8-K | Aug 20, 2026 | - | Analysis | - |
| 10-Q | Aug 7, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| 4 | Jul 7, 2026 | - | - | - |
| 8-K | Jul 1, 2026 | - | Analysis | - |
| 8-K | Jun 16, 2026 | - | Analysis | - |
| 4 | May 27, 2026 | - | - | |
| 4 | May 27, 2026 | - | - | |
| 4 | May 27, 2026 | - | - | |
| 4 | May 27, 2026 | - | - | |
| 4 | May 27, 2026 | - | - | |
| 4 | May 27, 2026 | - | - | |
| 4 | May 27, 2026 | - | - | |
| 4 | May 27, 2026 | - | - | |
| 4 | May 27, 2026 | - | - | |
| 8-K | May 26, 2026 | - | Analysis | |
| 4 | May 22, 2026 | - | - | |
| 8-K | May 19, 2026 | - | Analysis | |
| 8-K | May 5, 2026 | - | Analysis | - |
| 10-Q | May 5, 2026 | Mar 31, 2026 | Analysis | |
| 4 | May 5, 2026 | - | - | - |
| 8-K | May 4, 2026 | - | Analysis | - |
| 8-K | Apr 16, 2026 | - | Analysis | - |
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RIG SEC filings: frequently asked questions
Which institutions hold RIG stock?
As of June 30, 2026, the largest Transocean Ltd. (RIG) holders among the 13F filers tracked by SignalX were BlackRock ($449.5 million), Dimensional Fund Advisors ($249.5 million), Vanguard Portfolio Management LLC ($241.1 million), Two Sigma Investments ($225.9 million), Vanguard Capital Management LLC ($221.0 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was RIG's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Transocean Ltd. (RIG) reported revenue of $4.0 billion (up 12.5% from FY2024) and a net loss of $2.9 billion. Diluted EPS was -$3.04. The figures come from the XBRL data in the 10-K.
What are the main risks in RIG's latest 10-K?
In the 10-K filed February 23, 2026, Transocean Ltd. (RIG) flagged: Legal risk: net non-cash loss $20M in 2025 linked to certain legal outcomes vs net gain $25M in 2024. Macroeconomic threat: below investment grade debt rating causing increased fees and interest rates, restricting capital market access. (AI summary of the Risk Factors section.)
What did RIG report in its latest 8-K?
Transocean Ltd. (RIG) filed an 8-K on September 30, 2026 reporting Item 8.01 (Other Events). DOJ closed its HSR investigation, removing a key U.S. antitrust obstacle to Transocean’s Valaris acquisition.
What are the latest RIG SEC filings?
Transocean Ltd. (RIG) filed its latest 10-K annual report on February 23, 2026, a 10-Q quarterly report on August 7, 2026, an 8-K current report on September 30, 2026 and a Form 4 insider filing on July 7, 2026.
What is RIG's SEC CIK number?
Transocean Ltd. (RIG)'s SEC Central Index Key (CIK) is 1451505. EDGAR lists every RIG filing under that number.
Ask anything about RIG
The research agent reads RIG's filings, financials, insider trades and 13F holders, then answers with sources.