Is RIG a good stock to buy?
We came across a bullish thesis on Transocean Ltd. on The Mispricing Desk’s Substack
In this article, we will summarize the bulls’ thesis on RIG. Transocean Ltd.’s share was trading at $6.04 as of June 12th. RIG’s forward P/E was 3.55 according to Yahoo Finance.
Pixabay/Public Domain Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells in Switzerland and internationally. RIG is being valued by the market primarily as a highly leveraged offshore driller facing regulatory uncertainty and cyclical risks, yet the company’s recent operating performance and contract backlog suggest a more favorable outlook than its current valuation implies. The investment case centers on a growing backlog, improving cash generation, and the pending acquisition of Valaris, which could create a larger and more resilient offshore drilling platform. 15 AI Stocks That Are Quietly Making Investors Rich Undervalued AI Stock Poised For Massive Gains: 10000% Upside Potential In the first quarter of 2026, Transocean reported revenue of $1.081 billion, adjusted EBITDA of $440 million, free cash flow of $136 million, and total contract backlog of $7.1 billion.