Filing Flows › Transocean (RIG) › Q4 2025
Transocean (RIG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 23, 2026
Transocean (RIG) reported revenue of $1.0B for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +1% from the quarter before. Operating margin was 23.0%, net earnings $25.0M (2.4% of revenue).
Transocean, Q4 2025: revenue $1.0B (+10% year over year), operating margin 23.0%, net earnings $25.0M, operating cash flow $349M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +1% | +10% |
| Operating profit | $240M | — | +85% |
| Net earnings | $25.0M | — | +257% |
| Operating cash flow | $349M | +42% | +69% |
| Free cash flow | $321M | — | — |
What changed
Revenue was $1.0B in Q4 2025, up 10% year over year and up 1% from the previous quarter. Ultra-deepwater floaters was the largest line at 69% of revenue.
Operating profit was $0.24B, a 23.0% margin (up 9.4 points year over year). Of the extra revenue versus a year earlier, 121% reached operating profit, above the 14% margin then. Total costs fell 2% while revenue rose 10%. Net earnings were $0.03B, up 257% year over year. The effective tax rate was 69.5%.
Operating cash flow was $0.35B (up 69% year over year), 1396% of net earnings. Non-cash charges added back $0.15B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.17B. After capital expenditures ($0.03B), free cash flow as the company reports it was $0.32B.
Questions
What was Transocean's revenue in the fourth quarter 2025?
Transocean (RIG) reported revenue of $1.0B for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +1% from the quarter before.
Was Transocean profitable in the fourth quarter 2025?
Operating profit was $240M (23.0% of revenue) and net earnings $25.0M.
Source: Transocean 10-K on SEC EDGAR.