Transocean (RIG) intrinsic value & 10-year financials
Transocean (RIG) has a Graham intrinsic value of $13.35 per share. At $5.62 on Oct 17, 2026, the stock trades 58% below that value. Over the last 10 fiscal years revenue shrank 0.5% a year to $4.0B, with an average return on invested capital of -4.3%.
- Graham intrinsic value
- $13.35
- Share price (Oct 17, 2026)
- $5.62
- Price vs Graham value
- 58% below
- Market cap
- $5.4B
- Revenue (FY2025)
- $4.0B
- Revenue growth (10-yr CAGR)
- -0.5%
- ROIC (10-yr avg)
- -4.3%
- Free cash flow (FY2025)
- $626.0M
RIG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.0B | -$2.9B | -$3.04 | $626.0M | -58.9% | -16.1% |
| FY2024 | $3.5B | -$512.0M | -$0.76 | $193.0M | -11.8% | -2.5% |
| FY2023 | $2.8B | -$954.0M | -$1.24 | -$263.0M | -11.5% | -1.9% |
| FY2022 | $2.6B | -$621.0M | -$0.89 | -$269.0M | -1.2% | -0.2% |
| FY2021 | $2.6B | -$592.0M | -$0.93 | $367.0M | -4.4% | -0.6% |
| FY2020 | $3.2B | -$567.0M | -$0.92 | $133.0M | -15.6% | -2.7% |
| FY2019 | $3.1B | -$1.3B | -$2.05 | -$47.0M | -23.3% | -3.7% |
| FY2018 | $3.0B | -$2.0B | -$4.27 | $374.0M | -41.5% | -6.6% |
| FY2017 | $3.0B | -$3.1B | -$8.00 | $647.0M | -84.2% | -13.2% |
| FY2016 | $4.2B | $778.0M | $2.08 | $567.0M | 27.2% | 4.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Transocean Ltd. is facing top-line stagnation, with revenue contracting over the decade.
Transocean Ltd. has historically struggled to out-earn its cost of capital, averaging just -4.3% ROIC.
Transocean Ltd. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Transocean Ltd. is modeled at -0.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $13.35 per share.