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Nabors Industries vs Transocean: revenue, profit, margins and growth compared

Nabors Industries brought in $3.2B of revenue in fiscal 2025, Transocean $4B in fiscal 2025. Revenue changed by +8.7% at Nabors Industries and +12.5% at Transocean on the year before, so Transocean grew faster. Nabors Industries kept 9.0% of its revenue as net profit, Transocean -73.5%. Free cash flow was -$22.7M at Nabors Industries and $626M at Transocean.

Side by side, latest fiscal year

NBRRIG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$3.2B$4B
Revenue growth+8.7%+12.5%
Net income$286.6M-$2.9B
Net margin9.0%-73.5%
Free cash flow-$22.7M$626M
Free cash flow margin-0.7%15.8%
Earnings per share (diluted)$17.39-$3.04
Cash$940.7M$620M
Debt$2.5B$5.7B
Price to earnings4.7n/a
Market value$1.3B$6B
Dividend yieldn/an/a
Rank by revenue in sector#45 of 129 · Energy#36 of 129 · Energy

Over the years

Revenue
NBR FY2018: $3.1BNBR FY2019: $3BNBR FY2020: $2.1BNBR FY2021: $2BNBR FY2022: $2.7BNBR FY2023: $3BNBR FY2024: $2.9BNBR FY2025: $3.2BRIG FY2018: $3BRIG FY2019: $3.1BRIG FY2020: $3.2BRIG FY2021: $2.6BRIG FY2022: $2.6BRIG FY2023: $2.8BRIG FY2024: $3.5BRIG FY2025: $4BFY18FY19FY20FY21FY22FY23FY24FY25
NBR $3.2BRIG $4B
Net income
NBR FY2018: -$640.9MNBR FY2019: -$702.9MNBR FY2020: -$805.6MNBR FY2021: -$569.3MNBR FY2022: -$350.3MNBR FY2023: -$11.8MNBR FY2024: -$176.1MNBR FY2025: $286.6MRIG FY2018: -$2BRIG FY2019: -$1.3BRIG FY2020: -$567MRIG FY2021: -$592MRIG FY2022: -$621MRIG FY2023: -$954MRIG FY2024: -$512MRIG FY2025: -$2.9BFY18FY19FY20FY21FY22FY23FY24FY25
NBR $286.6MRIG -$2.9B
Net margin
NBR FY2018: -21.0%NBR FY2019: -23.1%NBR FY2020: -37.8%NBR FY2021: -28.2%NBR FY2022: -13.2%NBR FY2023: -0.4%NBR FY2024: -6.0%NBR FY2025: 9.0%RIG FY2018: -66.1%RIG FY2019: -40.6%RIG FY2020: -18.0%RIG FY2021: -23.2%RIG FY2022: -24.1%RIG FY2023: -33.7%RIG FY2024: -14.5%RIG FY2025: -73.5%FY18FY19FY20FY21FY22FY23FY24FY25
NBR 9.0%RIG -73.5%
Revenue growth
NBR FY2019: -0.5%NBR FY2020: -29.9%NBR FY2021: -5.5%NBR FY2022: +31.5%NBR FY2023: +13.3%NBR FY2024: -2.5%NBR FY2025: +8.7%RIG FY2019: +2.3%RIG FY2020: +2.1%RIG FY2021: -18.9%RIG FY2022: +0.7%RIG FY2023: +10.0%RIG FY2024: +24.4%RIG FY2025: +12.5%FY19FY20FY21FY22FY23FY24FY25
NBR +8.7%RIG +12.5%
Free cash flow
NBR FY2018: -$133.2MNBR FY2019: $256.8MNBR FY2020: $154.2MNBR FY2021: $194.7MNBR FY2022: $127.6MNBR FY2023: $97MNBR FY2024: $13.5MNBR FY2025: -$22.7MRIG FY2018: $374MRIG FY2019: -$47MRIG FY2020: $133MRIG FY2021: $367MRIG FY2022: -$269MRIG FY2023: -$263MRIG FY2024: $193MRIG FY2025: $626MFY18FY19FY20FY21FY22FY23FY24FY25
NBR -$22.7MRIG $626M

Fiscal years as each company reports them; the two may end in different months.

Questions about Nabors Industries and Transocean

Which is bigger by revenue, Nabors Industries or Transocean?

Transocean is bigger by revenue: $4B in fiscal 2025, against $3.2B for Nabors Industries in fiscal 2025.

Which keeps more of its revenue as profit, Nabors Industries or Transocean?

Nabors Industries had a net margin of 9.0% in fiscal 2025; Transocean had -73.5% in fiscal 2025.

Which grew revenue faster, Nabors Industries or Transocean?

In their latest fiscal years revenue changed by +8.7% at Nabors Industries and +12.5% at Transocean.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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