Transocean operates one of the largest offshore drilling fleets in the world, with ultra-deepwater and harsh-environment drillships and semisubmersibles leased to oil majors and national oil companies on multi-year day-rate contracts. Its moat rests on the scarcity of that equipment: building a new ultra-deepwater rig takes years and costs well over a billion dollars, so the existing fleet commands premium rates when offshore demand firms. The near-term catalyst is contract backlog conversion, since rising day rates on newly signed work would feed through to cash flow faster than the revenue line suggests. Revenue fell 2.2% and ROE is negative at -18.7%, so the company is still absorbing losses and the balance sheet, not the fleet, is the first thing to test. A 15.2x forward P/E is the only earnings multiple on offer, given trailing earnings are depressed, which makes the forward estimates the real question. The 43/100 score and absence from any index suggest the market is not yet paying for a recovery, so this merits a deeper look at contract coverage and debt maturities before any view on timing.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 10 Oct 2026, 00:00 CEST | ACCE price target | $5.10 | first publication | $5.54 |
| 7 Oct 2026, 00:00 CEST | Fair value | $2.83 | $2.72 | $5.51 |
| 4 Oct 2026, 00:00 CEST | Fair value | $2.72 | $2.75 | $5.17 |
| 28 Sept 2026, 00:00 CEST | Fair value | $2.75 | $3.08 | $5.38 |
| 25 Sept 2026, 00:00 CEST | Fair value | $3.08 | $3.13 | $5.47 |
| 16 Sept 2026, 00:00 CEST | Fair value | $3.13 | $3.20 | $5.45 |
| 13 Sept 2026, 00:00 CEST | Fair value | $3.20 | $3.16 | $5.67 |
| 5 Sept 2026, 00:00 CEST | Fair value | $3.16 | $3.27 | $6.02 |
| 3 Sept 2026, 00:00 CEST | Fair value | $3.27 | $3.14 | $5.92 |
| 31 Aug 2026, 00:00 CEST | Fair value | $3.14 | $4.22 | $5.74 |
Answered from Transocean Ltd (Switzerland) Common Stock fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| RIG Transocean Ltd (Switzerland) Common Stock | $6.41 | - | - | - | -18.7% | 52 | 49 |
| NE Noble Corporation plc A Ordinary Shares | $47.70 | $35 | 36% above | 46.8x | 3.3% | 51 | 46 |
| VAL Valaris Limited Common Shares | $97.33 | $68 | 42% above | 6.9x | 33.6% | 76 | 57 |
| PTEN Patterson-UTI Energy Inc. Common Stock | $11.97 | $10 | 16% above | - | -2.8% | 31 | 47 |
| HP Helmerich & Payne Inc. Common Stock | $38.95 | $31 | 28% above | - | -4.6% | 35 | 44 |
| SDRL Seadrill Limited Common Shares | $52.35 | $24 | 119% above | 1745.0x | 0.0% | 55 | 68 |
| BORR Borr Drilling Limited Common Shares | $4.40 | $3 | 27% above | - | -24.7% | 29 | 42 |
Where RIG ranks against its sector peers on each metric.