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Transocean vs SEADRILL: revenue, profit, margins and growth compared

Transocean brought in $4B of revenue in fiscal 2025, SEADRILL $1.4B in fiscal 2025. Revenue changed by +12.5% at Transocean and +3.8% at SEADRILL on the year before, so Transocean grew faster. Transocean kept -73.5% of its revenue as net profit, SEADRILL -5.4%.

Side by side, latest fiscal year

RIGSDRL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4B$1.4B
Revenue growth+12.5%+3.8%
Net income-$2.9B-$77M
Net margin-73.5%-5.4%
Free cash flow$626Mn/a
Free cash flow margin15.8%n/a
Earnings per share (diluted)-$3.04n/a
Cash$620M$339M
Debt$5.7B$613M
Price to earningsn/an/a
Market value$6B$2.9B
Dividend yieldn/an/a
Rank by revenue in sector#36 of 129 · Energy#66 of 129 · Energy

Over the years

Revenue
RIG FY2018: $3BRIG FY2019: $3.1BRIG FY2020: $3.2BRIG FY2021: $2.6BRIG FY2022: $2.6BRIG FY2023: $2.8BRIG FY2024: $3.5BRIG FY2025: $4BSDRL FY2017: $2.1BSDRL FY2019: $1.4BSDRL FY2020: $961MSDRL FY2021: $907MSDRL FY2023: $1.5BSDRL FY2024: $1.4BSDRL FY2025: $1.4BFY17FY18FY19FY20FY21FY22FY23FY24FY25
RIG $4BSDRL $1.4B
Net income
RIG FY2018: -$2BRIG FY2019: -$1.3BRIG FY2020: -$567MRIG FY2021: -$592MRIG FY2022: -$621MRIG FY2023: -$954MRIG FY2024: -$512MRIG FY2025: -$2.9BSDRL FY2017: -$3BSDRL FY2019: -$1.2BSDRL FY2020: -$4.7BSDRL FY2021: -$587MSDRL FY2023: $300MSDRL FY2024: $446MSDRL FY2025: -$77MFY17FY18FY19FY20FY21FY22FY23FY24FY25
RIG -$2.9BSDRL -$77M
Net margin
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%SDRL FY2017: -142.4%SDRL FY2019: -87.8%SDRL FY2020: -484.8%SDRL FY2021: -64.7%SDRL FY2023: 20.0%SDRL FY2024: 32.2%SDRL FY2025: -5.4%FY17FY18FY19FY20FY21FY22FY23FY24FY25
RIG -73.5%SDRL -5.4%
Revenue growth
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%SDRL FY2020: -30.8%SDRL FY2021: -5.6%SDRL FY2024: -7.8%SDRL FY2025: +3.8%FY19FY20FY21FY22FY23FY24FY25
RIG +12.5%SDRL +3.8%
Free cash flow
RIG FY2018: $374MRIG FY2019: -$47MRIG FY2020: $133MRIG FY2021: $367MRIG FY2022: -$269MRIG FY2023: -$263MRIG FY2024: $193MRIG FY2025: $626MSDRL FY2017: $249MSDRL FY2019: -$418MSDRL FY2020: -$557MSDRL FY2021: -$238MFY17FY18FY19FY20FY21FY22FY23FY24FY25
RIG $626MSDRL -$238M

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

Questions about Transocean and SEADRILL

Which is bigger by revenue, Transocean or SEADRILL?

Transocean is bigger by revenue: $4B in fiscal 2025, against $1.4B for SEADRILL in fiscal 2025.

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

Transocean had a net margin of -73.5% in fiscal 2025; SEADRILL had -5.4% in fiscal 2025.

Which grew revenue faster, Transocean or SEADRILL?

In their latest fiscal years revenue changed by +12.5% at Transocean and +3.8% at SEADRILL.

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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