Transocean debt and dilution16

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$5,119M

Cash & equivalents

USD millions

$509M

Net debt

USD millions

$4,610M

Debt / equity

0.61×

Debt / assets

33.75%

Net debt / EBITDA

× · TTM

—

Debt / FCF

× · TTM

5.66×

Interest coverage

× · TTM

-1.71×

Current ratio

1.59×

Diluted shares

Million shares

1,202M shares

Basic shares

Million shares

1,120M shares

Share count growth

26.13%

Share repurchases

USD millions

—

Quarterly data

Transocean capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 30, 2026	5,119	509	4,610	0.61×	33.75%	—	5.66×	-1.71×	1.59×	1,202	1,120	26.13%	—
FY 2026 Q1	Mar 31, 2026	5,274	330	4,944	0.64×	34.81%	—	6.63×	-2.96×	1.54×	1,124	1,109	25.59%	—
FY 2025 Q4	Dec 31, 2025	5,657	620	5,037	0.7×	36.17%	—	9.04×	-4.21×	1.56×	1,105.4	1,105.4	25.64%	—
FY 2025 Q3	Sep 30, 2025	6,221	833	5,388	0.77×	38.46%	—	12.91×	-5.17×	1.08×	961	961	9.33%	—
FY 2025 Q2	Jun 30, 2025	6,551	377	6,174	0.7×	36.78%	—	17.1×	-3.15×	1.26×	888	888	7.77%	—
FY 2025 Q1	Mar 31, 2025	6,648	263	6,385	0.65×	34.95%	16.8×	20.27×	-0.97×	1.33×	958	883	7.81%	—
FY 2024 Q4	Dec 31, 2024	6,881	560	6,321	0.67×	35.52%	19.63×	35.65×	-1.15×	1.47×	954.78	879.78	9.08%	—
FY 2024 Q3	Sep 30, 2024	6,960	435	6,525	0.68×	35.67%	52.2×	—	-2.31×	1.64×	954	879	13.57%	—
FY 2024 Q2	Jun 30, 2024	7,301	475	6,826	0.68×	35.92%	12.25×	—	-0.45×	1.36×	0.82	824	8.28%	—
FY 2024 Q1	Mar 31, 2024	7,265	446	6,819	0.69×	36.44%	11.84×	—	-0.33×	1.35×	955	819	12.5%	—
FY 2023 Q4	Dec 31, 2023	7,413	762	6,651	0.71×	36.6%	15.87×	—	-0.5×	1.52×	806.58	806.58	11.14%	—
FY 2023 Q3	Sep 30, 2023	7,386	594	6,792	0.72×	36.92%	15.8×	—	-0.35×	1.67×	774	774	8.4%	—
FY 2023 Q2	Jun 30, 2023	7,447	821	6,626	0.72×	36.84%	12.55×	—	-0.27×	1.96×	761	761	9.97%	—
FY 2023 Q1	Mar 31, 2023	7,625	747	6,878	0.74×	37.76%	11.54×	—	-0.19×	1.93×	728	728	9.64%	—
FY 2022 Q4	Dec 31, 2022	7,347	683	6,664	0.68×	35.95%	9.47×	—	-0.06×	1.29×	725.71	725.71	10.33%	—
FY 2022 Q3	Sep 30, 2022	7,201	954	6,247	0.64×	34.92%	8.66×	94.75×	-0.03×	1.64×	714	714	9.34%	—
FY 2022 Q2	Jun 30, 2022	7,223	729	6,494	0.65×	35.15%	9.68×	195.22×	-0.16×	1.49×	692	692	11.43%	—
FY 2022 Q1	Mar 31, 2022	7,011	911	6,100	0.63×	34.43%	9.49×	31.44×	-0.22×	1.69×	664	664	—	—
FY 2021 Q4	Dec 31, 2021	7,170	976	6,194	0.64×	34.67%	9.83×	19.54×	-0.25×	1.88×	657.77	657.77	6.95%	—
FY 2021 Q3	Sep 30, 2021	7,348	900	6,448	0.65×	35.03%	10.01×	15.18×	-0.23×	1.91×	653	653	6.01%	—
FY 2021 Q2	Jun 30, 2021	7,527	988	6,539	0.67×	35.51%	10.01×	19.01×	-0.2×	1.98×	621	621	0.98%	—
FY 2021 Q1	Mar 31, 2021	7,620	1,066	6,554	0.67×	35.67%	16.34×	23.45×	-0.68×	1.96×	—	—	—	—
FY 2020 Q4	Dec 31, 2020	7,807	1,154	6,653	0.68×	35.81%	23.1×	58.7×	-0.86×	1.98×	615	615	0.33%	—
FY 2020 Q3	Sep 30, 2020	8,434	1,382	7,052	0.74×	37.53%	26.51×	—	-0.86×	2.05×	702	616	0.49%	—
FY 2020 Q2	Jun 30, 2020	9,058	1,511	7,547	0.82×	39.68%	—	—	-1.79×	2.07×	615	615	0.49%	—
FY 2020 Q1	Mar 31, 2020	9,157	1,483	7,674	0.8×	39.05%	—	—	-1.39×	2.06×	614	614	0.49%	—
FY 2019 Q4	Dec 31, 2019	9,261	1,790	7,471	0.78×	38.42%	55.75×	—	-1.09×	2.11×	613	613	21.15%	—
FY 2019 Q3	Sep 30, 2019	9,390	1,906	7,484	0.79×	38.41%	41.58×	73.36×	-1.01×	2.53×	613	613	32.4%	—
FY 2019 Q2	Jun 30, 2019	9,727	2,243	7,484	0.76×	37.96%	15.89×	30.02×	-0.56×	2.88×	612	612	32.47%	—
FY 2019 Q1	Mar 31, 2019	9,414	1,886	7,528	0.73×	36.99%	—	42.6×	-1.97×	2.72×	611	611	39.5%	—
FY 2018 Q4	Dec 31, 2018	9,978	2,160	7,818	0.76×	38.88%	—	26.68×	-2.02×	2.71×	506	506	29.41%	—
FY 2018 Q3	Sep 30, 2018	9,327	2,307	7,020	0.78×	39.75%	—	28.61×	-2.1×	3.07×	463	463	18.41%	—
FY 2018 Q2	Jun 30, 2018	9,630	2,506	7,124	0.78×	39.72%	—	23.15×	-3.88×	1.49×	462	462	18.16%	—
FY 2018 Q1	Mar 31, 2018	9,855	2,712	7,143	0.73×	38.35%	—	15.52×	-5.25×	1.5×	438	438	12.31%	—
FY 2017 Q4	Dec 31, 2017	7,396	2,519	4,877	0.58×	33%	—	11.43×	-5.1×	3.36×	391	391	5.39%	—
FY 2017 Q3	Sep 30, 2017	7,300	2,717	4,583	0.57×	32.53%	—	8.47×	-4.57×	2.36×	391	391	7.12%	—
FY 2017 Q2	Jun 30, 2017	7,390	2,471	4,919	0.52×	30.99%	68.32×	9.24×	-1.73×	2.31×	391	391	7.12%	—
FY 2017 Q1	Mar 31, 2017	8,395	3,093	5,302	0.53×	31.42%	2.99×	22.94×	1.94×	1.99×	390	390	7.14%	—
FY 2016 Q4	Dec 31, 2016	8,464	3,052	5,412	0.54×	31.48%	2.67×	14.93×	2.77×	2.57×	371	371	1.92%	—
FY 2016 Q3	Sep 30, 2016	8,260	2,534	5,726	0.54×	31.57%	2.36×	16.49×	4.03×	1.95×	365	365	0.27%	—
FY 2016 Q2	Jun 30, 2016	8,218	2,153	6,065	0.54×	31.8%	2.31×	547.87×	4.64×	1.88×	365	365	0.55%	—
FY 2016 Q1	Mar 31, 2016	8,453	2,574	5,879	0.56×	32.21%	1.96×	6.12×	5.22×	1.82×	364	364	0.28%	—
FY 2015 Q4	Dec 31, 2015	8,490	2,339	6,151	0.57×	32.25%	2.63×	5.88×	3.19×	1.79×	364	364	0.55%	—
FY 2015 Q3	Sep 30, 2015	8,753	2,234	6,519	0.62×	33.88%	6.37×	6.27×	-0.04×	2.68×	364	364	0.55%	—
FY 2015 Q2	Jun 30, 2015	10,015	3,769	6,246	0.73×	37.13%	—	4.54×	-5.47×	2.32×	363	363	0.28%	—
FY 2015 Q1	Mar 31, 2015	10,020	2,682	7,338	0.74×	36.97%	—	7.29×	-5.01×	1.84×	363	363	0.55%	—
FY 2014 Q4	Dec 31, 2014	10,092	2,635	7,457	0.72×	35.52%	—	183.49×	-2.85×	1.59×	362	362	0.28%	—
FY 2014 Q3	Sep 30, 2014	10,353	2,873	7,480	0.69×	34.55%	9.35×	—	-0.65×	1.8×	362	362	0.56%	—
FY 2014 Q2	Jun 30, 2014	10,457	2,117	8,340	0.62×	32.61%	2.26×	—	4.98×	1.7×	362	362	0.56%	—
FY 2014 Q1	Mar 31, 2014	10,470	1,987	8,483	0.61×	32.82%	2.4×	—	4.38×	2.04×	361	361	0.28%	—
FY 2013 Q4	Dec 31, 2013	10,702	3,243	7,459	0.64×	32.88%	2.24×	—	3.81×	1.91×	361	361	0.56%	—
FY 2013 Q3	Sep 30, 2013	10,728	3,559	7,169	0.66×	32.91%	2.07×	88.66×	3.77×	1.95×	361	360	0.28%	—
FY 2013 Q2	Jun 30, 2013	10,799	3,357	7,442	0.69×	33.52%	2.1×	20.26×	3.65×	1.81×	360	360	1.98%	—
FY 2013 Q1	Mar 31, 2013	11,231	3,689	7,542	0.7×	34.37%	2.66×	16.23×	2.36×	2.11×	360	360	2.86%	—
FY 2012 Q4	Dec 31, 2012	12,459	5,134	7,325	0.79×	36.37%	2.71×	8.87×	2.19×	1.58×	360	359	9.12%	—
FY 2012 Q3	Sep 30, 2012	14,117	6,001	8,116	0.93×	39.98%	—	10.85×	-6.79×	1.54×	359	359	12.19%	—
FY 2012 Q2	Jun 30, 2012	12,839	3,964	8,875	0.82×	37.28%	—	11.99×	-7.85×	1.1×	353	353	10.31%	—
FY 2012 Q1	Mar 31, 2012	13,456	3,982	9,474	0.86×	38.76%	—	15.03×	-7.44×	1.33×	350	350	9.72%	—
FY 2011 Q4	Dec 31, 2011	13,536	4,017	9,519	0.86×	38.58%	—	17.69×	-7.69×	1.42×	329	329	3.13%	—
FY 2011 Q3	Sep 30, 2011	11,100	3,286	7,814	0.53×	30.29%	4.28×	12.07×	0.62×	1.54×	320	320	0.31%	—
FY 2011 Q2	Jun 30, 2011	11,081	3,389	7,692	0.53×	30%	3.45×	11.42×	1.27×	1.5×	320	320	0.31%	—
FY 2011 Q1	Mar 31, 2011	11,241	3,812	7,429	0.52×	30.21%	2.63×	5.94×	2.26×	1.8×	320	319	-0.62%	0
FY 2010 Q4	Dec 31, 2010	11,221	3,394	7,827	0.52×	30.48%	2.3×	4.43×	3.29×	1.61×	319	319	-0.62%	0
FY 2010 Q3	Sep 30, 2010	—	4,636	—	—	—	—	—	6.61×	1.63×	319	319	99,376,847.04%	0
FY 2010 Q2	Jun 30, 2010	—	2,888	—	—	—	—	—	7.58×	1.27×	320	319	-0.31%	180
FY 2010 Q1	Mar 31, 2010	—	1,586	—	—	—	—	—	8.35×	1.43×	322	321	—	60
FY 2009 Q4	Dec 31, 2009	11,717	1,130	10,587	0.57×	32.16%	1.82×	4.6×	9.09×	1.24×	322	321	—	0
FY 2009 Q3	Sep 30, 2009	11,922	886	11,036	0.6×	33.1%	—	—	—	1.78×	0	0	—	0
FY 2009 Q2	Jun 30, 2009	12,053	907	11,146	0.63×	34.19%	—	—	—	1.56×	321	320	—	0

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · RIG, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.

SEC company facts · CIK 1451505