RIG Transocean Ltd.
FY2025 10-K
Transocean Ltd. (RIG) filed its fiscal year 2025 10-K annual report with the SEC on Feb 23, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
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
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
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
Financial SummaryXBRL
Revenue
$4.0B
Net Income
-$2.9B
Operating Margin
-58.9%
Net Margin
-73.5%
ROE
-36.0%
Total Assets
$15.6B
EPS (Diluted)
$-3.04
Operating Cash Flow
$749M
Source: XBRL data from Transocean Ltd. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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