Noble Corporation PLC (NE) vs Patterson-UTI Energy, Inc. (PTEN)

Noble Corporation PLC and Patterson-UTI Energy, Inc. are both Oil & Gas Drilling companies. Noble Corporation PLC is the larger, with a market value of $6.4B against $3.8B — 1.7× the size. Patterson-UTI Energy, Inc. has negative trailing earnings, so its P/E is not meaningful; Noble Corporation PLC trades at 116×. Patterson-UTI Energy, Inc. grew revenue faster over the last twelve months: 0.01% against −13.1%. Noble Corporation PLC has the higher net margin (1.79% vs −0.52%) and the higher return on invested capital (3.84% vs 0.66%). Both pay a dividend; Noble Corporation PLC yields more (4.97% vs 3.78%). Across the 21 metrics below, Patterson-UTI Energy, Inc. leads on 11 and Noble Corporation PLC on 10.

Valuation

Metric NE PTEN Oil & Gas Drilling median
P/E 116.05 n/m —
P/S 2.14 0.79 1.19
P/B 1.50 1.24 1.24
Price to free cash flow 17.95 11.35 14.65
EV/EBITDA 8.63 5.14 6.73
EV/Sales 2.67 0.98 2.12
Earnings yield 0.86% (0.60%) (0.70%)
Free cash flow yield 5.57% 8.81% 3.79%

Profitability

Metric NE PTEN Oil & Gas Drilling median
Gross margin 38.77% 24.07% 33.60%
Operating margin 11.95% 0.86% 8.58%
Net margin 1.79% (0.52%) (0.52%)
Free cash flow margin 11.95% 6.98% 6.98%
Return on equity 1.22% (0.79%) (0.79%)
Return on assets 0.73% (0.45%) (0.45%)
Return on invested capital 3.84% 0.66% 2.81%

Growth

Metric NE PTEN Oil & Gas Drilling median
Revenue growth (TTM) (13.05%) 0.01% 3.33%
EPS growth (last fiscal year) (54.39%) 90.16% (46.88%)
Revenue growth, 5-year CAGR 27.79% 33.83% 13.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric NE PTEN Oil & Gas Drilling median
Debt to equity 0.44 0.40 0.59
Current ratio 1.76 1.73 1.76
Net debt to EBITDA 1.52 0.90 0.90

Dividend

Metric NE PTEN Oil & Gas Drilling median
Dividend yield 4.97% 3.78% —
Payout ratio 6.12 — —

Size

Metric NE PTEN Oil & Gas Drilling median
Market cap 6.37b 3.78b 3.61b

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