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 $7.0B against $4.2B — 1.7× the size. Patterson-UTI Energy, Inc. has negative trailing earnings, so its P/E is not meaningful; Noble Corporation PLC trades at 45.1×. Patterson-UTI Energy, Inc. grew revenue faster over the last twelve months: −6.92% against −11.1%. Noble Corporation PLC has the higher net margin (4.88% vs −1.92%) and the higher return on invested capital (3.68% vs −0.75%). Both pay a dividend; Patterson-UTI Energy, Inc. yields more (3.05% vs 1.43%). Across the 21 metrics below, Noble Corporation PLC leads on 11 and Patterson-UTI Energy, Inc. on 10.

Valuation

Metric NE PTEN Oil & Gas Drilling median
P/E 45.07 n/m —
P/S 2.23 0.89 1.37
P/B 1.52 1.34 1.35
Price to free cash flow 11.00 19.94 15.47
EV/EBITDA 8.99 6.23 8.26
EV/Sales 2.70 1.11 2.31
Earnings yield 2.22% (2.10%) (2.10%)
Free cash flow yield 9.09% 5.01% 3.40%

Profitability

Metric NE PTEN Oil & Gas Drilling median
Gross margin 39.78% 23.76% 39.29%
Operating margin 11.37% (1.06%) 7.77%
Net margin 4.88% (1.92%) 0.00%
Free cash flow margin 20.25% 4.46% 4.46%
Return on equity 3.28% (2.78%) (2.78%)
Return on assets 2.01% (1.64%) (1.64%)
Return on invested capital 3.68% (0.75%) 2.29%

Growth

Metric NE PTEN Oil & Gas Drilling median
Revenue growth (TTM) (11.10%) (6.92%) 4.14%
EPS growth (last fiscal year) (54.39%) 90.16% —
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 0.42 0.40 0.61
Current ratio 1.91 1.75 1.89
Net debt to EBITDA 1.52 0.90 0.90

Dividend

Metric NE PTEN Oil & Gas Drilling median
Dividend yield 1.43% 3.05% —
Payout ratio 0.00 0.18 0.00

Size

Metric NE PTEN Oil & Gas Drilling median
Market cap 6.98b 4.21b 3.98b

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