Noble Corporation (NE) AI Stock Analysis

• Market Cap: $4.85B
• Dividend Yield: 8.35%
• Average Volume (3M): 3.24M
• Price to Earnings (P/E): 15.8
• Beta (1Y): 1.41
• Revenue Growth: 24.34%
• EPS Growth: -59.48%
• Country: US
• Employees: 5,000
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Drilling
• EPS (TTM): 0.19
• Shares Outstanding: 158,824,800
• 10 Day Avg. Volume: 1,785,751
• 30 Day Avg. Volume: 3,241,759
• PEG Ratio: -0.77
• Price to Book (P/B): 1.00
• Price to Sales (P/S): 1.53
• P/FCF Ratio: 58.26
• Enterprise Value/Market Cap: 1.23
• Enterprise Value/Revenue: 1.74
• Enterprise Value/Gross Profit: 7.42
• Enterprise Value/Ebitda: 5.34
• 1Y Price Target: $32.25
• Price Target Upside: 7.68% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 8

• Rating: 72 Outperform
• Price Target: $33.00 ▲(10.18% Upside)

Noble Corporation's overall stock score reflects a stable financial performance with some challenges, strong technical indicators suggesting bullish momentum, and a positive earnings call highlighting strategic growth and operational excellence. The valuation is slightly high, but the attractive dividend yield provides a compensating factor.

Positive Factors

Increased Backlog

An increased backlog of $7 billion indicates strong demand for Noble's services, ensuring revenue stability and growth potential over the coming years.

Operational Excellence

Operational excellence in key regions like Guyana and the U.S. Gulf enhances Noble's reputation and competitive advantage, supporting long-term client retention and contract wins.

Positive Market Outlook

A positive market outlook with improved deepwater contracting trends suggests a favorable environment for Noble's growth and sustained demand for its high-specification rigs.

Negative Factors

Declining Profitability

Decreasing net profit margins indicate challenges in maintaining profitability, which could impact Noble's ability to reinvest in operations and manage debt effectively.

Sequential Revenue Decline

Sequential revenue decline suggests potential volatility in earnings, which could affect investor confidence and the company's financial planning.

Free Cash Flow Challenges

Challenges in free cash flow growth may limit Noble's ability to fund new projects, pay down debt, or return capital to shareholders, impacting long-term financial health.

Noble Corporation Business Overview & Revenue Model

Company Description

Noble Corporation, together with its subsidiaries, operates as an offshore drilling contractor for the oil and gas industry worldwide. The company provides contract drilling services to the oil and gas industry through its fleet of mobile offshore drilling units. As of February 16, 2022, it operated a fleet of 20 offshore drilling units, which included 12 floaters and 8 jackups. The company was formerly known as Noble Holding Corporation plc. Noble Corporation was founded in 1921 and is headquartered in Sugar Land, Texas.

How the Company Makes Money

Noble Corporation generates revenue primarily through day rates charged for the use of its drilling rigs and related services. The company enters into contracts with oil and gas companies for the leasing of its drilling units, which can range from short-term contracts to long-term agreements spanning several years. Key revenue streams include the utilization of its high-specification offshore rigs, which are in demand due to the ongoing exploration activities in deepwater regions. Additionally, Noble may also earn revenue from providing supplemental services, such as crew training and equipment maintenance. Significant partnerships with major oil producers enhance its revenue potential, as these collaborations often lead to multi-year contracts that ensure steady cash flow. Market dynamics, including oil prices and demand for offshore drilling capabilities, also play a crucial role in influencing the company's earnings.

Noble Corporation Financial Statement Overview

Summary

Noble Corporation demonstrates a solid financial position with strong revenue growth and operational efficiency. The balance sheet is stable, with manageable leverage, though the return on equity has declined. Cash flow metrics are particularly strong, highlighting effective cash management. While there are areas for improvement, particularly in net profit margins and return on equity, the company's financial health is generally positive.

Income Statement

Noble Corporation has shown a consistent revenue growth trajectory, with a TTM revenue growth rate of 4.73%. The gross profit margin has improved to 25.94% in the TTM, indicating better cost management. However, the net profit margin has decreased to 8.95% from 14.66% in the previous annual report, suggesting increased expenses or other financial pressures. The EBIT and EBITDA margins remain strong, reflecting solid operational efficiency.

Balance Sheet

The company's debt-to-equity ratio is stable at 0.43, indicating a balanced approach to leveraging. The return on equity has decreased to 6.64% in the TTM, down from 9.64% in the previous year, which may signal challenges in generating returns from equity. The equity ratio is healthy, suggesting a strong equity base relative to total assets.

Cash Flow

Noble Corporation's cash flow performance is robust, with a significant free cash flow growth rate of 49% in the TTM. The operating cash flow to net income ratio is strong at 1.27, indicating efficient cash generation relative to net income. The free cash flow to net income ratio has improved, reflecting better cash conversion efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.45B	3.06B	2.59B	1.41B	847.81M	964.27M
Gross Profit	807.24M	836.55M	743.75M	305.44M	-7.33M	-25.53M
EBITDA	1.12B	1.02B	765.95M	381.10M	34.63M	-3.70B
Net Income	226.73M	448.35M	481.90M	168.95M	352.21M	-3.98B
Balance Sheet
Total Assets	7.64B	7.96B	5.51B	5.23B	2.07B	4.26B
Cash, Cash Equivalents and Short-Term Investments	477.95M	247.30M	360.79M	476.21M	194.14M	365.03M
Total Debt	1.98B	1.98B	611.87M	672.77M	216.00M	6.91M
Total Liabilities	3.11B	3.31B	1.59B	1.63B	572.82M	4.58B
Stockholders Equity	4.53B	4.65B	3.92B	3.61B	1.50B	-311.39M
Cash Flow
Free Cash Flow	392.33M	80.16M	164.76M	106.67M	-162.87M	124.31M
Operating Cash Flow	900.77M	655.48M	574.34M	280.99M	6.17M	273.20M
Investing Cash Flow	-388.90M	-959.02M	-366.51M	375.77M	193.45M	-121.52M
Financing Cash Flow	-432.45M	188.08M	-325.79M	-367.77M	-367.94M	107.44M

Noble Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 29.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NE, the sentiment is Positive. The current price of 29.95 is above the 20-day moving average (MA) of 28.89, above the 50-day MA of 28.82, and above the 200-day MA of 26.27, indicating a bullish trend. The MACD of 0.28 indicates Negative momentum. The RSI at 56.15 is Neutral, neither overbought nor oversold. The STOCH value of 76.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NE.

Noble Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VAL	―	$4.02B	14.71	12.23%	―	18.78%	-72.57%
NE	―	$4.85B	15.85	4.92%	8.35%	24.34%	-59.48%
HP	―	$2.52B	―	-1.19%	3.95%	25.92%	-109.50%
SDRL	―	$1.92B	26.54	2.60%	―	-13.36%	-82.21%
Sector *	―	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
PTEN	―	$2.41B	―	-4.00%	4.73%	-16.59%	83.95%
RIG	―	$4.13B	-2.03	-14.99%	―	23.26%	-284.22%

Noble Corporation Corporate Events

Noble Corporation Reports Q3 2025 Earnings and Outlook

Noble Corporation PLC is a prominent offshore drilling contractor in the oil and gas industry, known for its modern and versatile fleet that focuses on ultra-deepwater and high-specification jackup drilling opportunities worldwide. In its third quarter of 2025 earnings report, Noble Corporation announced a net loss of $21 million, despite securing approximately $740 million in new contract value, which increased its backlog to $7 billion. The company declared a $0.50 per share cash dividend for Q4, contributing to a total shareholder capital return of $340 million for 2025.

Noble Corporation Reports Q3 2025 Financial Results

Noble Corporation announced its third quarter 2025 results, reporting a net loss of $21 million and adjusted EBITDA of $254 million. The company declared a $0.50 per share cash dividend for Q4, bringing total shareholder returns for 2025 to $340 million. Noble secured approximately $740 million in new contracts, increasing its backlog to $7.0 billion. Despite a decrease in rig utilization, Noble’s recent contract wins and backlog expansion position it well for a potential recovery in deepwater utilization by late 2026 or early 2027.

The most recent analyst rating on (NE) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on Noble Corporation stock, see the NE Stock Forecast page.

Noble Corporation CEO Presents at Energy Conference

On September 2, 2025, Noble Corporation‘s CEO, Robert W. Eifler, presented at the Barclays CEO Energy-Power Conference. The presentation is part of Noble’s ongoing efforts to engage with stakeholders and provide updates on its strategic direction and industry positioning.

The most recent analyst rating on (NE) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on Noble Corporation stock, see the NE Stock Forecast page.

Noble Corporation’s Chief Accounting Officer Resigns

On August 19, 2025, Jennifer Yeung announced her resignation as Chief Accounting Officer of Noble Corporation, effective September 19, 2025. Her departure is not due to any disagreements with the company. Following her exit, Richard Barker, the Chief Financial Officer, will temporarily take on the additional role of principal accounting officer until a replacement is found.

The most recent analyst rating on (NE) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on Noble Corporation stock, see the NE Stock Forecast page.

Noble Corporation’s Earnings Call: Strong Results Amid Market Challenges

Noble Corporation’s recent earnings call painted a picture of robust financial health and strategic success, despite some short-term market challenges. The company reported strong financial performance and successful strategic initiatives, including achieving synergy targets and securing significant contract value. While acknowledging some near-term market softness and regional challenges, Noble remains optimistic about a medium-term market recovery, projecting a demand rebound by late 2026. The company’s disciplined focus on cost management and fleet optimization underscores its strategic approach to navigating current market conditions.

Noble Corporation Reports Strong Q2 2025 Results

Noble Corporation PLC is a leading offshore drilling contractor in the oil and gas industry, known for its modern and versatile fleet that operates in ultra-deepwater and high specification jackup drilling opportunities worldwide. In its second quarter of 2025 earnings report, Noble announced new contract awards worth approximately $380 million, bringing its backlog to $6.9 billion. The company declared a cash dividend of $0.50 per share for Q3, contributing to over $1.1 billion returned to shareholders since late 2022.

Noble Corporation Reports Q2 Results and New Contracts

On August 5, 2025, Noble Corporation announced its second quarter results, reporting a net income of $43 million and a backlog of $6.9 billion. The company declared a $0.50 per share dividend for Q3, reflecting over $1.1 billion returned to shareholders since Q4 2022. Despite a decrease in revenue and net income compared to the previous quarter, Noble has secured approximately $380 million in new contracts, including significant deals in the U.S. Gulf and Papua New Guinea. The company updated its 2025 guidance, reducing total revenue expectations but increasing adjusted EBITDA and capital expenditures due to recent long-term contract awards. The sale of certain assets, including the Pacific Scirocco and Pacific Meltem, was completed, and additional sales are planned, indicating strategic asset management amid market volatility.

The most recent analyst rating on (NE) stock is a Hold with a $37.00 price target. To see the full list of analyst forecasts on Noble Corporation stock, see the NE Stock Forecast page.