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Friday 6 November 2026 Export NE’s income statement to Excel — free account

Noble Corporation PLC

NE Energy Oil & Gas Drilling

Noble Corporation PLC’s revenue for fiscal 2025 (year ended December 2025) was $3.3 billion, up 7.45% from fiscal 2024.

Revenue
−8.68%
EPS
−463.9%
Free cash flow
−116.8%
Total debt
−4.46%

Quarter to September 2026, against a year earlier

40.27 0.76 −1.85%
Market cap
$6.4B
P/E
116×
Fwd P/E
−169×
Dividend yield
4.97%
F-score
5/9
Altman Z
1.66
Beneish M
−2.85
Dividend safety
38/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Reportable Segment

Every year since 2020 →

Insider Decisions last twelve months

Sold, $m 22.93
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 7 3 2 4 1 — — — — —
Insider Ownership 20.07%

Capital & Financial Ratios $m

Size
Market Cap 6,370.00
Revenue ttm 2,998.55
Net income ttm 53.65
Free cash flow ttm 358.24
Net debt Q 1,551.50
Valuation
P/E 116.05 (above 35: high)
Forward P/E (169.00) (negative: loss-making)
Price / sales 2.14
Forward P/S Powerpack
Price / FCF 17.95
Price / book 1.50
Financial health
Current ratio Q 1.76 (at or above 1.5: strong)
Debt / equity Q 0.44 (at or below 0.5: strong)
Interest coverage Q 1.72
Growth
Revenue growth Q −8.68% (below 0%: shrinking)
Operating income growth Q +19.21% (above 0%: growing)
EPS, this year −88.84% (below 0%: weak)
EPS, next year A +2,569.40% (at or above 15%: strong)
Revenue, next year A −11.89% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +78.55% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.7×, against a ten-year median of 2.6×; over the ten years it ranged from 1.6× in 2025 to 7.2× in 2021.
P/E against its own 10 years 97.86%
10-year low 10-year high
P/S against its own 10 years 45.59%
10-year low 10-year high
P/B against its own 10 years 61.62%
10-year low 10-year high
EV/Sales against its own 10 years 60.00%
10-year low 10-year high
EV/FCF against its own 10 years 67.44%
10-year low 10-year high

Dividends raised 3 years running

Yield
4.97%
Annual rate
2.00
Payout ratio
611.6%
Growth, 2016–25
+29.9%/yr
  1. 0.19 ’16
  2. 0.00 ’19 −100
  3. 0.00 ’20
  4. 0.00 ’21
  5. 0.00 ’22
  6. 0.70 ’23
  7. 1.80 ’24 +157
  8. 2.00 ’25 +11
  9. 2.00 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 361 247 471 337
Receivables 589 853 668 654
Inventory — — — —
Other — — — —
1,062 1,389 1,272 1,263
2023 2024 2025 Q'26
Payables 395 398 299 369
ST’ Debt — — — —
Other 82 311 260 154
642 940 760 717

Compound Annual Growth %

10y 5y 3y
Sales (0.20%) 27.79% 32.46%
Cash Flow (5.99%) 28.35% 50.18%
Earnings (8.22%) 0.00% 8.65%
Book Value (4.78%) 0.00% 8.04%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.20 Actual −0.57

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.15 0.09 Miss by 0.06
Q1 FY26 0.21 0.26 Beat by 0.05
Q2 FY26 0.13 0.01 Miss by 0.12
Q3 FY26 0.20 −0.57 Miss by 0.77
Q4 FY26 0.01 — Reports 10 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.75 (0.23) (0.73) — —
’25 0.67 0.27 (0.13) 0.54 1.35
’24 0.66 1.34 0.40 0.59 2.96
’23 0.74 0.45 1.09 1.03 3.32
’22 4.64 0.30 (0.36) 1.70 1.73
’20 (4.25) (0.17) (0.20) (11.24) (15.86)
’19 (0.27) (0.60) (2.84) 0.19 (2.81)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 786 720 729 — —
’25 874 849 798 764 3,286
’24 637 693 801 927 3,058
’23 610 639 697 643 2,589
’22 210 275 306 623 1,414
’21 170 219 250 208 848
’20 281 238 242 203 964
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 273 144 144 — —
’25 271 216 277 187 952
’24 129 107 284 136 655
’23 (63) 211 139 287 574
’22 (52) 88 74 171 281
’21 (27) 65 (59) 28 6
’20 (1) 49 188 37 273
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 376 (60) (38) — —
’25 158 116 225 81 579
’24 (38) (35) 162 1 90
’23 (126) 104 40 170 189
’22 (85) 57 44 471 488
’21 (57) 36 (101) 267 145
’20 (37) 16 146 26 152
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 8.3% a year for ten years. It grew −11.1% a year over the last ten.

Implied
8.3%
10 years, reported
−11.1%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,302 1,237 1,083 1,305 964 848 1,414 2,589 3,058 3,286 2,999 +4.0% 2,895 3,146 3,566 +2.8%
Gross margin, % 61.87 48.02 41.82 46.51 41.15 19.04 36.55 43.91 44.82 41.70 38.77 (20.2) pt
EBT (967) (450) (1,237) (909) (4,239) 356 192 512 492 273 203 n/m
EBT margin, % (42.01) (36.37) (114.25) (69.64) (439.59) 41.99 13.54 19.79 16.10 8.31 6.77 +50.3 pt
Net income (858) (494) (1,131) (874) (3,978) 352 169 482 448 217 54 n/m
Per share, $
Per share, $ Revenue 9.47 5.05 4.39 5.24 3.84 13.42 16.62 18.71 20.56 20.68 18.78 +9.1%
Earnings (3.53) (2.02) (3.59) (2.81) (15.86) — 1.99 3.48 3.01 1.36 0.35 n/m
Cash flow 4.70 1.70 0.70 0.75 1.09 0.10 3.30 4.15 4.41 5.99 4.69 +2.7%
Capex (2.82) (0.48) (0.77) (1.03) (0.48) 2.19 2.43 (2.78) (3.80) (2.34) (2.45) (2.1%)
Free cash flow 1.88 1.22 (0.07) (0.28) 0.60 2.29 5.73 1.37 0.61 3.65 2.24 +7.7%
Book value 26.60 24.31 18.87 14.70 (1.24) 23.75 42.41 28.34 31.27 28.63 26.86 +0.8%
Shares, m 243 245 247 249 251 63 85 138 149 159 159 (4.6%)
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 3.85 18.14 13.86 10.30 20.61 116.05 6.7
P/S 1.45 1.45 1.45 1.45 1.45 1.85 2.17 2.58 1.53 1.37 2.14 1.7
P/B 1.23 1.23 1.23 1.23 1.23 1.04 0.85 1.70 1.00 0.99 1.50 1.2
EV/Sales 6.41 6.41 6.41 6.41 6.41 1.88 2.31 2.67 2.10 1.83 2.67 4.3
EV/FCF 41.38 41.38 41.38 41.38 41.38 11.02 6.70 36.58 71.15 10.37 22.32 34.3
Cash, $m
Cash, $m Operating cash flow 1,143 417 172 187 273 6 281 574 655 952 749 (2.0%)
Capex (687) (118) (189) (256) (122) 138 207 (385) (565) (372) (391) (6.6%)
Free cash flow 456 298 (18) (69) 152 145 488 189 90 579 358 +2.7%
Balance, $m
Balance, $m Working capital 559 446 294 (95) 384 207 385 420 449 513 546 (1.0%)
Net debt 3,614 3,383 3,502 3,737 (336) 26 197 225 1,733 1,504 1,551 (9.3%)
Shareholders’ equity 6,467 5,951 4,655 3,659 (311) 1,501 3,607 3,921 4,651 4,549 4,288 (3.8%)
Returns, %
Returns, % ROA (7.65) (4.65) (8.82) (7.98) (63.41) 11.12 4.62 8.97 6.66 2.80 0.73 +10.5 pt
ROIC (4.71) (1.11) (7.25) (5.63) 0.00 2.55 3.76 8.66 5.91 4.29 3.84 +9.0 pt
ROE (13.39) (8.32) (16.69) (16.85) (237.69) 59.23 6.62 12.80 10.46 4.71 1.22 +18.1 pt
People
People Employees 2,800 2,000 2,000 2,000 1,500 1,800 3,800 3,600 5,000 4,500 — +5.4%
Revenue/emp, $m 0.82 0.62 0.54 0.65 0.64 0.47 0.37 0.72 0.61 0.73 — (1.3%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Noble Corporation provides offshore drilling services to oil and gas companies. Its customers hire Noble and its rigs to drill wells at sea, rather than buying the rigs themselves. Noble supplies the drilling unit, its crew and operational support for work specified in each customer contract. Its customers include integrated, independent and government-owned or controlled oil and gas companies.

Noble operates two main types of mobile rig. Floaters include drillships and semisubmersible rigs, which remain on the water while drilling. Drillships can use positioning systems to stay over a well without anchors; semisubmersibles use anchors or positioning systems. Jackups have legs lowered to the seabed, allowing their hulls to be raised above the water. They can drill in open water or over existing platforms.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Reportable Segment 3,286 100.00%
Gross margin 41.70%
Operating margin 12.65%
Pre-tax margin 8.31%

Revenue by segment since 2020

Noble Corporation PLC vs peers in Oil & Gas Drilling (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NE Noble Corporation PLC $6.4B 116× — (loss-making) −8.68% (below 0%: shrinking) n/m −116.84% (below 0%: shrinking) 35.71% 8.24%
RIG Transocean Ltd. $5.7B 20.3× 22.1× −8.85% (below 0%: shrinking) n/m −49.44% (below 0%: shrinking) 100.00% 15.26% Compare
VAL Valaris Limited $5.4B 6.8× 30.5× −0.35% (below 0%: shrinking) −74.70% (below 0%: shrinking) −105.11% (below 0%: shrinking) 29.70% 13.70% Compare
PTEN Patterson-UTI Energy, Inc. $3.8B — (loss-making) — (loss-making) +14.14% (above 0%: growing) n/m +169.62% (above 0%: growing) 25.09% 4.71% Compare
HP Helmerich & Payne, Inc. $3.5B — (loss-making) — (loss-making) −0.58% (below 0%: shrinking) n/m +574.70% (above 0%: growing) 29.52% 18.19% Compare
SDRL Seadrill Limited $2.6B — (loss-making) 119× +17.91% (above 0%: growing) n/m +2,066.67% (above 0%: growing) 0.00% 10.28% Compare
NBR Nabors Industries Ltd. $1.1B — (loss-making) — (loss-making) +6.16% (above 0%: growing) −93.96% (below 0%: shrinking) +135.53% (above 0%: growing) 38.77% 8.96% Compare
BORR Borr Drilling Limited $962.6M — (loss-making) — (loss-making) −13.22% (below 0%: shrinking) n/m −323.94% (below 0%: shrinking) 24.62% 0.13% Compare
SOC Sable Offshore Corp. $349.2M — (loss-making) — — n/m +90.17% (above 0%: growing) 100.00% (48.78%) Compare
Median of peers $3.0B — 30.5× −0.35% — +112.85% 29.61% 9.62%

All 9 Oil & Gas Drilling stocks →

From the latest earnings call

Updated

  • CEO Robert Eifler said Noble secured approximately $560 million in contract awards over three months, bringing its backlog to $6.7 billion.
  • CFO Richard Barker said Noble had approximately 20% more capacity contracted for the second half of 2027 than the first half.

Pay and ownership Proxy statement filed 16 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 11.89m 9.10m 130.72
2024 12.04m 4.09m 135.06
2023 9.65m 34.87m 197.37
2022 7.44m 33.88m 152.36
2021 25.27m 38.10m 100.24

Ownership

Directors and executive officers, together 1.50%
APMH Invest A/S 19.00%
BlackRock, Inc 11.20%
The Vanguard Group 9.00%
First Eagle Investment Management, LLC and First Eagle Global Fund 7.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Noble Corporation PLC (NE) Latest News

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Impact 3 · · StockStory

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Impact 3 · · Simply Wall St.

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29 Jul

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28 Jul

Impact 3 · · MarketBeat transcript

27 Jul

Impact 3 ·

26 Jul

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14 Jul

Impact 3 ·
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9 Jul

Impact 3 · · Trefis

7 Jul

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17 Jun

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2 Jun

Impact 3 · · Simply Wall St.

27 May

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NE metrics, ten years each

stockrow.com/NE · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com