Noble
NE · Oil & Gas Drilling
$47.70
8.5%Transocean
RIG · Oil & Gas Drilling
$6.41
5.4%The short version
- Transocean is the larger business, with $4.0B of revenue in fiscal 2025 against $3.3B for Noble.
- Transocean grew revenue faster (12.5%, against 7.5%).
- Noble kept more of each dollar of sales as operating profit (12.7% operating margin, against −58.9% operating margin).
- Transocean turned more of its sales into free cash flow (15.8% FCF margin, against 13.2% FCF margin).
- Noble earned a higher return on the capital invested in it (5.3%, against −12.4%).
| Latest fiscal year | NE · FY25 | RIG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.6B | $7.7B |
| Revenue | $3.3B | $4.0B |
| Free cash flow | $432M | $626M |
| Net income | $217M | −$2.9B |
| Growth | ||
| Revenue growth | 7.5% | 12.5% |
| 5-year growth | — | 4.7% |
| Share count change | 5.7% | 3.8% |
| Profitability | ||
| Gross margin | — | 39.3% |
| Operating margin | 12.7% | −58.9% |
| Net margin | 6.6% | −73.5% |
| FCF margin | 13.2% | 15.8% |
| Return on capital | 5.3% | −12.4% |
| Return on equity | 4.7% | −31.7% |
| Balance sheet | ||
| Net debt | $1.6B | $5.0B |
| Net debt / EBITDA | — | — |
| Dividends and buybacks | $340M | $0.0M |
| Valuation & quality | ||
| P/E | 50.7x | — |
| Piotroski F-score | 5 | 6 |
FY16
NE —
RIG $4.2B
FY17
NE —
RIG $3.0B
FY18
NE —
RIG $3.0B
FY19
NE —
RIG $3.1B
FY20
NE $964M
RIG $3.2B
FY21
NE —
RIG $2.6B
FY22
NE $1.4B
RIG $2.6B
FY23
NE $2.6B
RIG $2.8B
FY24
NE $3.1B
RIG $3.5B
FY25
NE $3.3B
RIG $4.0B
NE
RIG
FY16
NE —
RIG 26.6%
FY17
NE —
RIG −84.3%
FY18
NE —
RIG −41.5%
FY19
NE —
RIG −23.4%
FY20
NE −422.8%
RIG −15.6%
FY21
NE —
RIG −4.4%
FY22
NE 16.2%
RIG −1.2%
FY23
NE 22.2%
RIG −11.5%
FY24
NE 19.8%
RIG −11.8%
FY25
NE 12.7%
RIG −58.9%
NE
RIG
FY16
NE —
RIG $636M
FY17
NE —
RIG $673M
FY18
NE —
RIG $374M
FY19
NE —
RIG −$47.0M
FY20
NE $124M
RIG $133M
FY21
NE —
RIG $367M
FY22
NE $107M
RIG −$269M
FY23
NE $165M
RIG −$263M
FY24
NE $80.2M
RIG $193M
FY25
NE $432M
RIG $626M
NE
RIG
FY16
NE —
RIG 4.6%
FY17
NE —
RIG −10.3%
FY18
NE —
RIG −5.2%
FY19
NE —
RIG −2.8%
FY20
NE —
RIG −2.1%
FY21
NE —
RIG −0.5%
FY22
NE —
RIG −0.1%
FY23
NE 13.6%
RIG −1.5%
FY24
NE 10.4%
RIG −2.0%
FY25
NE 5.3%
RIG −12.4%
NE
RIG
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.