Added to YB: 2025-05-05
Pitch date: 2025-04-30
RIG [neutral]
Transocean Ltd.
+88.89%
current return
Author Info
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Company Info
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells in Switzerland and internationally.
Market Cap
$4.7B
Pitch Price
$2.16
Price Target
N/A
Dividend
N/A
EV/EBITDA
7.54
P/E
-1.28
EV/Sales
2.61
Sector
Energy Equipment and Services
Category
turnaround
RIG Credit: Dayrate Duration
RIG (overview): 5.3x net debt/EBITDA (2024) trending to 3.8x (2026) as EBITDA grows to $1.38B. Long-cycle deepwater contracts protect vs oil volatility with $465-530k dayrates locked in. Secured bonds have strong protection with restricted cash & collateral; unsecured 2027s ($655M due) face refinancing risk. Industry-leading fleet with rare 8G/7G+ drillships commanding premium rates.
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