Transocean
RIG · Oil & Gas Drilling
$6.41
5.4%Valaris
VAL · Oil & Gas Drilling
$97.33
5.6%The short version
- Transocean is the larger business, with $4.0B of revenue in fiscal 2025 against $2.4B for Valaris, about 1.7 times as much.
- Transocean grew revenue faster (12.5%, against 0.3%).
- Valaris kept more of each dollar of sales as operating profit (20.1% operating margin, against −58.9% operating margin).
- Transocean turned more of its sales into free cash flow (15.8% FCF margin, against 8.6% FCF margin).
- Valaris earned a higher return on the capital invested in it (14.4%, against −12.4%).
| Latest fiscal year | RIG · FY25 | VAL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.7B | $6.9B |
| Revenue | $4.0B | $2.4B |
| Free cash flow | $626M | $203M |
| Net income | −$2.9B | $983M |
| Growth | ||
| Revenue growth | 12.5% | 0.3% |
| 5-year growth | 4.7% | 2.9% |
| Share count change | 3.8% | −2.7% |
| Profitability | ||
| Gross margin | 39.3% | 31.2% |
| Operating margin | −58.9% | 20.1% |
| Net margin | −73.5% | 41.5% |
| FCF margin | 15.8% | 8.6% |
| Return on capital | −12.4% | 14.4% |
| Return on equity | −31.7% | 36.4% |
| Balance sheet | ||
| Net debt | $5.0B | $487M |
| Net debt / EBITDA | — | 0.8x |
| Dividends and buybacks | $0.0M | $100M |
| Valuation & quality | ||
| P/E | — | 7.3x |
| Piotroski F-score | 6 | 7 |
FY16
RIG $4.2B
VAL $2.8B
FY17
RIG $3.0B
VAL $1.8B
FY18
RIG $3.0B
VAL $1.7B
FY19
RIG $3.1B
VAL $2.1B
FY20
RIG $3.2B
VAL $1.4B
FY21
RIG $2.6B
VAL —
FY22
RIG $2.6B
VAL $1.6B
FY23
RIG $2.8B
VAL $1.8B
FY24
RIG $3.5B
VAL $2.4B
FY25
RIG $4.0B
VAL $2.4B
RIG
VAL
FY16
RIG 26.6%
VAL 33.5%
FY17
RIG −84.3%
VAL −7.2%
FY18
RIG −41.5%
VAL −13.8%
FY19
RIG −23.4%
VAL −32.6%
FY20
RIG −15.6%
VAL −303.7%
FY21
RIG −4.4%
VAL —
FY22
RIG −1.2%
VAL 2.3%
FY23
RIG −11.5%
VAL 3.0%
FY24
RIG −11.8%
VAL 14.9%
FY25
RIG −58.9%
VAL 20.1%
RIG
VAL
FY16
RIG $636M
VAL $755M
FY17
RIG $673M
VAL −$277M
FY18
RIG $374M
VAL −$482M
FY19
RIG −$47.0M
VAL −$504M
FY20
RIG $133M
VAL −$346M
FY21
RIG $367M
VAL —
FY22
RIG −$269M
VAL −$80.0M
FY23
RIG −$263M
VAL −$429M
FY24
RIG $193M
VAL −$99.7M
FY25
RIG $626M
VAL $203M
RIG
VAL
FY16
RIG 4.6%
VAL 7.3%
FY17
RIG −10.3%
VAL −0.9%
FY18
RIG −5.2%
VAL −1.5%
FY19
RIG −2.8%
VAL −3.8%
FY20
RIG −2.1%
VAL −35.5%
FY21
RIG −0.5%
VAL —
FY22
RIG −0.1%
VAL —
FY23
RIG −1.5%
VAL 3.0%
FY24
RIG −2.0%
VAL 13.0%
FY25
RIG −12.4%
VAL 14.4%
RIG
VAL
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.