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Noble

NE NYSE Oil & Gas Drilling Financials FY2020–FY2025

Noble's revenue rose 7.5% to $3.3 billion in fiscal 2025. Its operating margin was 12.7%, down from 19.8% a year earlier. Free cash flow was $432 million, up 439.1%. It paid out $340 million in dividends and buybacks, 79% of free cash flow. The diluted share count rose 5.7%.

Last close · Oct 23, 2026

$47.70

8.5%
Value it Compare
Revenue Total sales reported in the income statement.
$3.3B
7.4% vs prior year
Operating margin Operating income as a share of revenue.
12.7%
7.1 pts
Net income Profit after all expenses, interest and tax.
$217M
51.7%
Free cash flow Cash from operations minus capital spending.
$432M
439.1%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
5.3%
5.2 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$7.6B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
50.7x
On $0.94 EPS (TTM)

What Noble does

No business description yet.

Legal name
Noble Corporation plc
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001895262-26-000076
0001895262

Revenue and margins

Noble had $3.3B of revenue in fiscal 2025, up 7.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $432M in fiscal 2025, 13.2% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Noble returned $340M to shareholders in fiscal 2025, 79% of free cash flow. The diluted share count rose 5.7%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Noble yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.6B and divides by 160.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 50.7x · peers — · sector 16.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Noble can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY20FY22FY23FY24FY25
Cash and short-term investments $365M$476M$361M$247M$471M
Debt incl. finance leases —$673M$586M$2.0B$2.1B
Debt / equity —0.2x0.2x0.4x0.5x
Interest coverage −24.8x5.4x9.7x6.4x2.6x
Current ratio —1.6x1.7x1.5x1.7x
Quick ratio —1.6x1.7x1.5x1.7x
Total assets —$5.2B$5.5B$8.0B$7.5B
Total liabilities —$1.6B$1.6B$3.3B$3.0B
Shareholders' equity −$311M$3.6B$3.9B$4.7B$4.5B
Net debt (− = net cash) —$197M$225M$1.8B$1.6B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$20.5M

8 insiders

Of sales under plans

68%

$13.9M

DateInsiderTradeSharesPriceValueFiling
Jun 15, 2026 Robert W. EiflerPresident & CEO, Director Sold plan 50,000 $45.51 $2.3M Form 4
May 15, 2026 Al J. HirshbergDirector Sold 5,000 $52.62 $0.3M Form 4
May 12, 2026 Charles M SledgeDirector Sold 724 $51.61 $0.0M Form 4
May 6, 2026 Blake DentonSVP, Marketing & Contracts Sold 30,000 $49.31 $1.5M Form 4
May 5, 2026 Joey M KawajaSVP, Operations Sold 40,000 $49.86 $2.0M Form 4
Apr 30, 2026 Jennie HowardSVP, Gen. Counsel & Corp. Sec. Sold 2,486 $51.08 $0.1M Form 4
Apr 28, 2026 Caroline AltingSVP, Ops. Excellence & Sust Sold 15,340 $52.75 $0.8M Form 4
Mar 18, 2026 Richard B. BarkerEVP and CFO Sold plan 150,000 $46.63 $7.0M Form 4
Mar 18, 2026 Robert W. EiflerPresident & CEO, Director Sold plan 100,000 $46.62 $4.7M Form 4
Mar 2, 2026 Blake DentonSVP, Marketing & Contracts Sold 19,334 $45.17 $0.9M Form 4
Feb 19, 2026 Charles M SledgeDirector Sold 2,083 $44.63 $0.1M Form 4
Feb 19, 2026 Richard B. BarkerEVP and CFO Sold 20,000 $42.96 $0.9M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose — ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets — ✕ ✓
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✕ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets — ✓ ✕
F-score — / 94 / 85 / 8
Accruals ratio −1.7%−3.1%−9.5%
Altman Z'' 4.122.522.54

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Noble NE $7.6B 7.5% 12.7% 13.2% 5.3% 50.7x 5
Helmerich & Payne HP $3.9B 35.9% 0.1% 3.1% 0.1% — 4 Compare →
Transocean RIG $7.7B 12.5% −58.9% 15.8% −12.4% — 6 Compare →
Valaris VAL $6.9B 0.3% 20.1% 8.6% 14.4% 7.3x 7 Compare →
Patterson-UTI Energy PTEN $4.6B −10.3% −0.9% 7.7% −0.8% — 6 Compare →

5 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY20FY22FY23FY24FY25
Income statement
Revenue $964M $1.4B $2.6B $3.1B $3.3B
Operating income −$4.1B $229M $575M $604M $416M
Interest expense $165M $42.7M $59.1M $94.2M $162M
Pretax income −$4.2B $192M $512M $492M $273M
Income tax −$260M $22.6M $30.3M $44.0M $56.4M
Net income −$4.0B $169M $482M $448M $217M
Diluted EPS −$15.86 $1.73 $3.32 $2.96 $1.35
Diluted shares 0.25B 0.10B 0.15B 0.15B 0.16B
Cash flow
Cash from operations $273M $281M $574M $656M $952M
Capital expenditure $149M $174M $410M $575M $520M
Free cash flow $124M $107M $165M $80.2M $432M
Stock-based compensation $9.2M $35.3M $37.7M $43.8M $30.5M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $15.0M $94.8M $300M $20.0M
Dividends paid $0.0M $0.0M $98.8M $278M $320M
Dividends and buybacks $0.0M $15.0M $194M $578M $340M
Balance sheet
Cash and short-term investments $365M $476M $361M $247M $471M
Total debt — $673M $586M $2.0B $2.0B
Finance lease liabilities $0.0M $0.0M $0.0M $34.0M $93.4M
Current assets — $1.1B $1.1B $1.4B $1.3B
Current liabilities — $667M $642M $940M $760M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net — $4.0B $4.1B $6.0B $5.4B
Total assets — $5.2B $5.5B $8.0B $7.5B
Total liabilities — $1.6B $1.6B $3.3B $3.0B
Shareholders' equity −$311M $3.6B $3.9B $4.7B $4.5B
Margins
Operating margin −422.8% 16.2% 22.2% 19.8% 12.7%
Net margin −412.6% 12.0% 18.6% 14.7% 6.6%
FCF margin 12.9% 7.5% 6.4% 2.6% 13.2%
Returns
Return on capital — — 13.6% 10.4% 5.3%
Return on capital employed — — 12.2% 10.2% 6.0%
Return on equity — — 12.8% 10.5% 4.7%
Return on assets — — 9.0% 6.7% 2.8%
Growth
Revenue growth — — 83.1% 18.1% 7.5%
Net income growth — — 185.2% −7.0% −51.7%
EPS growth — — 91.9% −10.8% −54.4%
FCF growth — — 54.5% −51.4% 439.1%
Share count change — — 48.8% 4.4% 5.7%
Financial health
Debt / equity — 0.2x 0.2x 0.4x 0.5x
Interest coverage −24.8x 5.4x 9.7x 6.4x 2.6x
Current ratio — 1.6x 1.7x 1.5x 1.7x
Quick ratio — 1.6x 1.7x 1.5x 1.7x
Capital allocation
Capex / revenue 15.4% 12.3% 15.8% 18.8% 15.8%
Stock comp / revenue 1.0% 2.5% 1.5% 1.4% 0.9%
Payouts / FCF 0.0% 14.1% 117.5% 720.8% 78.8%
Quality scores
Piotroski F-score — — — 4.0 5.0
Altman Z'' — 3.3 4.1 2.5 2.5
Accruals ratio — — −1.7% −3.1% −9.5%

Source: SEC EDGAR XBRL filings (CIK 0001895262). Data updated October 21, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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