Helmerich & Payne, Inc. (HP) vs Noble Corporation PLC (NE)

Helmerich & Payne, Inc. and Noble Corporation PLC are both Oil & Gas Drilling companies. Noble Corporation PLC is the larger, with a market value of $6.4B against $3.5B — 1.8× the size. Helmerich & Payne, Inc. has negative trailing earnings, so its P/E is not meaningful; Noble Corporation PLC trades at 116×. Helmerich & Payne, Inc. grew revenue faster over the last twelve months: 16.6% against −13.1%. Noble Corporation PLC has the higher net margin (1.79% vs −3.43%) and the higher return on invested capital (3.84% vs 1.32%). Both pay a dividend; Noble Corporation PLC yields more (4.97% vs 2.87%). Across the 21 metrics below, Noble Corporation PLC leads on 12 and Helmerich & Payne, Inc. on 9.

Valuation

Metric HP NE Oil & Gas Drilling median
P/E n/m 116.05 —
P/S 0.87 2.14 1.19
P/B 1.31 1.50 1.24
Price to free cash flow 7.12 17.95 14.65
EV/EBITDA 6.14 8.63 6.73
EV/Sales 1.27 2.67 2.12
Earnings yield (4.04%) 0.86% (0.70%)
Free cash flow yield 14.04% 5.57% 3.79%

Profitability

Metric HP NE Oil & Gas Drilling median
Gross margin 28.82% 38.77% 33.60%
Operating margin 2.25% 11.95% 8.58%
Net margin (3.43%) 1.79% (0.52%)
Free cash flow margin 12.25% 11.95% 6.98%
Return on equity (4.95%) 1.22% (0.79%)
Return on assets (2.08%) 0.73% (0.45%)
Return on invested capital 1.32% 3.84% 2.81%

Growth

Metric HP NE Oil & Gas Drilling median
Revenue growth (TTM) 16.57% (13.05%) 3.33%
EPS growth (last fiscal year) (148.40%) (54.39%) (46.88%)
Revenue growth, 5-year CAGR 16.13% 27.79% 13.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric HP NE Oil & Gas Drilling median
Debt to equity 0.70 0.44 0.59
Current ratio 1.96 1.76 1.76
Net debt to EBITDA 2.87 1.52 0.90

Dividend

Metric HP NE Oil & Gas Drilling median
Dividend yield 2.87% 4.97% —
Payout ratio — 6.12 —

Size

Metric HP NE Oil & Gas Drilling median
Market cap 3.47b 6.37b 3.61b

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