Noble Corporation plc

EnergyMid CapUS Equities · NYSE / NASDAQ

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Company Profile

Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services through its fleet of mobile offshore drilling units. The company also operates drilling rigs, such as floaters and jackups. It serves its fleets in Africa, the Far East Asia, the North Sea, the Oceania, South America, and the United States Gulf of America. Noble Corporation plc was founded in 1921 and is headquartered in Houston, Texas.

Valuation

Market Cap$7.4B

Current Price$42.12as of Jun 23, 2026

P/E Ratio34.37

P/B Ratio1.64

EV / EBITDA8.84

EV / Sales2.72

Profitability

Operating Margin15.7%

Net Profit Margin6.6%

EBITDA Margin30.8%

Returns

ROE4.8%

ROCE6.7%

ROIC %-

ROA2.9%

Solvency

Current Ratio1.67

Debt / Equity0.43

Debt / Assets0.26

CFO / Net Profit4.39

Price History▲ 50.37% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$3.3B▲ 7.4%

EBITDA$1.0B▲ 4.1%

Net Profit$217M▼ 51.7%

Cash from Ops (CFO)$952M▲ 45.2%

Free Cash Flow (FCF)$432M▲ 439.1%

Revenue CAGR 3Y32.5%

Revenue CAGR 5Y-

Net Profit CAGR 3Y8.7%

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$3.3B	$1.0B	$217M	$432M	4.8%	7.4%	-51.7%
2024	$3.1B	$973M	$448M	$80M	9.6%	18.1%	-7.0%
2023	$2.6B	$766M	$482M	$165M	12.3%	83.1%	185.2%
2022	$1.4B	$376M	$169M	$107M	4.7%	-	-
2021	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	1,413.85	2,589.02	3,057.82	3,285.57
Operating Revenue	-	1,332.84	2,461.72	2,918.77	3,107.21
Cost Of Revenue	-	1,108.40	1,845.27	2,221.27	2,637.41
Gross Profit	-	305.44	743.75	836.55	648.16
Operating Expense	-	82.18	128.41	140.50	133.15
Selling General And Administration	-	82.18	128.41	140.50	133.15
Total Expenses	-	1,190.58	1,973.68	2,361.77	2,770.56
Operating Income	-	223.27	615.34	696.05	515.01
Total Operating Income As Reported	-	228.77	574.71	603.98	415.55
EBITDA	-	375.75	765.95	972.58	1,012.61
Normalized EBITDA	-	379.16	827.98	1,064.64	1,112.07
EBIT	-	234.22	571.38	603.98	435.50
Interest Income	-	14.36	18.07	-	19.95
Interest Expense	-	42.72	59.14	111.65	162.40
Net Interest Income	-	-28.36	-41.07	-111.65	-142.45
Other Income Expense	-	-3.41	-62.02	-92.07	-99.46
Interest Income Non Operating	-	14.36	18.07	-	19.95
Interest Expense Non Operating	-	42.72	59.14	111.65	162.40
Net Non Operating Interest Income Expense	-	-28.36	-41.07	-111.65	-142.45
Pretax Income	-	191.50	512.24	492.33	273.10
Tax Provision	-	22.55	30.34	43.98	56.38
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	-0.40	-3.66	-8.19	-20.49
Net Income Continuous Operations	-	168.95	481.90	448.35	216.72
Net Income From Continuing And Discontinued Operation	-	168.95	481.90	448.35	216.72
Net Income From Continuing Operation Net Minority Interest	-	168.95	481.90	448.35	216.72
Net Income	-	168.95	481.90	448.35	216.72
Net Income Common Stockholders	-	168.95	481.90	448.35	216.72
Net Income Including Noncontrolling Interests	-	168.95	481.90	448.35	216.72
Normalized Income	-	171.96	540.27	532.23	295.69
Diluted NI Availto Com Stockholders	-	168.95	481.90	448.35	216.72
Basic Average Shares	-	85.06	138.38	148.73	158.87
Diluted Average Shares	-	97.61	145.20	151.64	160.20
Reconciled Depreciation	-	141.53	194.57	368.59	577.10
Reconciled Cost Of Revenue	-	1,108.40	1,845.27	2,221.27	2,637.41
Total Unusual Items	-	-3.41	-62.02	-92.07	-99.46
Total Unusual Items Excluding Goodwill	-	-3.41	-62.02	-92.07	-99.46
Special Income Charges	-	-3.41	-62.02	-92.07	-99.46
Other Special Charges	-	8.97	6.69	-	-
Write Off	-	0	-	-	-
Impairment Of Capital Assets	-	-	0	0	82.66
Restructuring And Mergern Acquisition	-	84.67	55.33	109.42	26.38
General And Administrative Expense	-	82.18	128.41	140.50	133.15
Other Gand A	-	82.18	128.41	140.50	133.15
Gain On Sale Of Ppe	-	90.23	0	17.36	9.59

Peer Comparison

Energy sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Noble Corporation plcthis co.	NE	$7.4B	34.37↑ premium	1.64	4.8%	8.84
SM Energy Company	SM	$8.1B	12.56	1.69	13.5%	4.75
Kinetik Holdings Inc.	KNTK	$7.7B	14.55	-13.54	-93.0%	9.72
Kodiak Gas Services, Inc.	KGS	$6.9B	85.36	5.72	6.7%	16.12
Archrock, Inc.	AROC	$6.1B	18.91

Learn while you research

Hand-picked academy chapters to deepen your understanding of Noble Corporation plc and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Valuation Multiples Explained

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$3.3B

$1.0B

$217M

$432M

4.8%

7.4%

-51.7%

2024

$3.1B

$973M

$448M

$80M

9.6%

18.1%

-7.0%

2023

$2.6B

$766M

$482M

$165M

12.3%

83.1%

185.2%

2022

$1.4B

$376M

$169M

$107M

4.7%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

1,413.85

2,589.02

3,057.82

3,285.57

Operating Revenue

1,332.84

2,461.72

2,918.77

3,107.21

Cost Of Revenue

1,108.40

1,845.27

2,221.27

2,637.41

Gross Profit

305.44

743.75

836.55

648.16

Operating Expense

82.18

128.41

140.50

133.15

Selling General And Administration

82.18

128.41

140.50

133.15

Total Expenses

1,190.58

1,973.68

2,361.77

2,770.56

Operating Income

223.27

615.34

696.05

515.01

Total Operating Income As Reported

228.77

574.71

603.98

415.55

EBITDA

375.75

765.95

972.58

1,012.61

Normalized EBITDA

379.16

827.98

1,064.64

1,112.07

EBIT

234.22

571.38

603.98

435.50

Interest Income

14.36

18.07

19.95

Interest Expense

42.72

59.14

111.65

162.40

Net Interest Income

-28.36

-41.07

-111.65

-142.45

Other Income Expense

-3.41

-62.02

-92.07

-99.46

Interest Income Non Operating

14.36

18.07

19.95

Interest Expense Non Operating

42.72

59.14

111.65

162.40

Net Non Operating Interest Income Expense

-28.36

-41.07

-111.65

-142.45

Pretax Income

191.50

512.24

492.33

273.10

Tax Provision

22.55

30.34

43.98

56.38

Tax Rate For Calcs

Tax Effect Of Unusual Items

-0.40

-3.66

-8.19

-20.49

Net Income Continuous Operations

168.95

481.90

448.35

216.72

Net Income From Continuing And Discontinued Operation

168.95

481.90

448.35

216.72

Net Income From Continuing Operation Net Minority Interest

168.95

481.90

448.35

216.72

Net Income

168.95

481.90

448.35

216.72

Net Income Common Stockholders

168.95

481.90

448.35

216.72

Net Income Including Noncontrolling Interests

168.95

481.90

448.35

216.72

Normalized Income

171.96

540.27

532.23

295.69

Diluted NI Availto Com Stockholders

168.95

481.90

448.35

216.72

Basic Average Shares

85.06

138.38

148.73

158.87

Diluted Average Shares

97.61

145.20

151.64

160.20

Reconciled Depreciation

141.53

194.57

368.59

577.10

Reconciled Cost Of Revenue

1,108.40

1,845.27

2,221.27

2,637.41

Total Unusual Items

-3.41

-62.02

-92.07

-99.46

Total Unusual Items Excluding Goodwill

-3.41

-62.02

-92.07

-99.46

Special Income Charges

-3.41

-62.02

-92.07

-99.46

Other Special Charges

8.97

6.69

Write Off

Impairment Of Capital Assets

82.66

Restructuring And Mergern Acquisition

84.67

55.33

109.42

26.38

General And Administrative Expense

82.18

128.41

140.50

133.15

Other Gand A

82.18

128.41

140.50

133.15

Gain On Sale Of Ppe

90.23

17.36

9.59

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Noble Corporation plcthis co.

$7.4B

34.37↑ premium

1.64

4.8%

8.84

SM Energy Company

$8.1B

12.56

1.69

13.5%

4.75

Kinetik Holdings Inc.

KNTK

$7.7B

14.55

-13.54

-93.0%

9.72

Kodiak Gas Services, Inc.

KGS

$6.9B

85.36

5.72

6.7%

16.12

Archrock, Inc.

AROC

$6.1B

18.91

Noble Corporation plc

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Noble Corporation plc

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on