Noble Corporation Plc

NYSE · Oilfield Services & Drilling

$40.87

At close - Nov 6, 4:00 PM EST - USD

Market Cap$6.52B

P/E121.6x

52W High$54.98

Volume1.08M

VCP Research Verdict2026Q3

Contraction and Brazil Risks Pressure Noble's Outlook

Noble's fundamentals suggest a transitional setup: revenue declined 15.2% year-over-year to $719.7M in 2026Q2, marking four consecutive quarters of contraction after the Maersk/Diamond merger lift, while gross margin recovered to 38.0% from a 13.0% trough in 2025Q4, indicating the earlier weakness may have reflected…

GrowthContracting

ProfitabilityStrained

ValuationExpensive

TechnicalsWeak

Explore valuation models

MARKET ACTION

NE price & volume

Price trend, volume and key moving averages

Launch Terminal

Loading chart...

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis

Fundamental Trajectory

Revenue fell 15.2% year-over-year to $719.7M in 2026Q2 with gross margin at 38.0%, yet operating income collapsed 71.9% sequentially from $225.3M to $63.4M, suggesting negative flow-through from the offshore cost base's rigidity at current utilization.

Analyst Consensus+21.1% target

Hold(51 analysts)

16 Buy22 Hold13 Sell

The Bull Case

Upside Catalysts

Strong financial performance

Noble Corporation reported higher net income of US$120.73 million in Q1 2026 despite lower revenue, indicating improved profitability.

Offshore drilling leadership

Noble operates a modern, versatile, and technically advanced offshore drilling fleet, positioning it as a leader in the industry.

LNG-driven demand growth

The bullish thesis on Noble is supported by growing demand for LNG, which drives the need for offshore drilling services.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/9/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return

NE+46.10%

S&P 500 (^GSPC)+7.63%

1-Year Return

NE+49.01%

S&P 500 (^GSPC)+9.69%

3-Year Return

NE-4.35%

S&P 500 (^GSPC)+71.74%

5-Year Return

NE+64.25%

S&P 500 (^GSPC)+60.17%

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis

Trailing P/E5Y High

121.6x

Forward P/E

546.4x

EV/EBITDA40th %ile

8.1x

FCF YieldCash Flow

1.5%

Valuation vs 5-Year History

Multiple Range

Metric

Current

5Y Median

Historical Range

Percentile

P/E

121.6x

14.5x

100th· High

EV/EBITDA

8.1x

8.9x

40th· Fair

Price/FCF

67.3x

59.4x

75th· Fair

Current Multiple

5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection

Bear$39.67-2.9%

Base (Fair)$65.99+61.5%

Bull$107.50+163.0%

$39.67 Bear$65.99 Base$107.50 Bull

Current Market Price: $40.87

Trades at a 38.1% discount to Base DCF ($65.99)

Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend

Revenue FY25

$3.29B+7.4% YoY

Net income FY25

$217M-51.7% YoY

Free cash flow FY25

$432M+439.1% YoY

Operating margin FY25

15.7%-7.1 pts YoY

ROIC (FY25)6.2%

Avg ROIC 5Y4.2%

ROE (TTM)1.2%

Piotroski Score5 / 9

Financial Statements →

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History

EPS Beat Rate2/12 (17%)

Revenue Beat Rate11/12 (92%)

Quarter	EPS (Act vs Est)	Revenue (Act vs Est)
Q4 2026Latest Oct 26, 2026	-$0.57-348.1% vs $0.23	$729M+2.1% vs $714M
Q3 2026 Jul 27, 2026	$0.01-93.5% vs $0.15	$720M+3.1% vs $698M
Q2 2026 Apr 26, 2026	$0.26+23.8% vs $0.21	$786M+7.6% vs $730M
Q1 2026 Feb 11, 2026	$0.09-40.0% vs $0.15	$764M+4.6% vs $731M

Historical baseline: 12 quarters analyzedGAAP / Adjusted

MARKET COVERAGE

Latest News

4 Stories

GlobeNewsWire·3d ago

Noble Capital Markets Initiates Equity Research Coverage on Bimergen Energy with an Outperform Rating

Newport Beach, CA, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Bimergen Energy Corporation (NYSE American: BESS), a developer, owner, and operator of utility-scale and distributed battery energy storage systems, is pleased to announce that October 29, 2026, Noble Capital Markets has initiated company-sponsored equity research coverage on the Company with an Outperform rating and a price target of $6.00 per share.

Newsfile Corp·4d ago

Noble Plains Uranium Announces Binding Letter of Intent for Proposed Acquisition by Eagle Nuclear Energy

Highlights A 92% premium. The C$0.125 Offer Price is nearly double the October 29, 2026 closing price of C$0.065.

GlobeNewsWire·4d ago

Eagle Nuclear Energy Signs Binding LOI to Acquire Noble Plains Uranium

Proposed Acquisition Strategically Expands Eagle's Domestic Uranium Resource Portfolio Proposed Acquisition Strategically Expands Eagle's Domestic Uranium Resource Portfolio

Zacks Investment Research·4d ago

New Strong Sell Stocks for November 4th

AXTA, NE and PRU have been added to the Zacks Rank #5 (Strong Sell) List on November 4, 2026.

Filtered for Noble Corporation PlcMore Headlines

Compare before deciding

Benchmark NE against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Noble Corporation Plc (NE)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
NENoble Corporation PlcCurrent	$40.87	$6.52B	121.60	7.45%	1.79%	1.2%	4.89%
VALValaris Limited	$79.77	$5.52B	7.03	0.27%	37.35%	24.89%	—
RIGTransocean Ltd.	$5.24	$5.33B	20.22	12.51%	7.25%	3.53%	—
SDRLSeadrill Limited	$42.20	$2.64B	-143.54	3.75%	-1.13%	-0.63%	—
HPHelmerich & Payne, Inc.	$35.22	$3.52B	-25.63	35.89%	-3.44%	-5.08%	2.88%
NBRNabors Industries Ltd.	$73.20	$1.08B	-17.87	8.69%	-1.82%	-4.08%	0.57%

Compare NE vs Peers

Noble Corporation Plc (NE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs VAL

Most directly comparable listed peer for NE.

Scale Benchmark

vs XOM

Larger-name benchmark to compare NE against a more recognizable public peer.

Peer Set

Compare Top 5

vs VAL, RIG, SDRL, HP

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

NE SEC Filings & Documents

Noble Corporation Plc (NE) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Oct 26, 2026·SEC

Material company update

Jul 27, 2026·SEC

Material company update

Jun 12, 2026·SEC

10-K Annual Reports

FY 2026

Feb 12, 2026·SEC

FY 2025

Feb 19, 2025·SEC

FY 2024

Feb 23, 2024·SEC

10-Q Quarterly Reports

FY 2026

Oct 27, 2026·SEC

FY 2026

Jul 28, 2026·SEC

FY 2026

Apr 27, 2026·SEC

Get notified when NE posts new earnings or crosses analyst targets

Free. No account needed. Unsubscribe any time.

NE Frequently Asked Questions

Noble Corporation Plc (NE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is Noble Corporation Plc's revenue?

Noble Corporation Plc (NE) reported $3.00B in revenue over the trailing twelve months. Revenue was $3.29B in fiscal year 2025. That is 233% more than the $986.4M of fiscal year 2002.

How fast is Noble Corporation Plc growing?

Noble Corporation Plc (NE) revenue fell by 13.0% over the trailing twelve months, compared with the twelve months before.

Is NE profitable?

Yes. Noble Corporation Plc (NE) earned $53.7M in net income over the trailing twelve months (a 1.8% net margin).

Dividend & Returns

Does NE pay dividends?

Yes. Noble Corporation Plc (NE) pays a dividend that yields 4.89% at the current price, a high yield.

What is NE's return on equity?

Noble Corporation Plc (NE) had a return on equity (ROE) of 1.2% over the trailing twelve months. That is below the market's typical 10-15%.

What is Noble Corporation Plc's free cash flow?

Noble Corporation Plc (NE) generated $96.9M in free cash flow over the trailing twelve months.

What if you invested $1,000 in NE back in 2002?

Total return calculator · dividends reinvested · 24+ years of data

See returns →

Contraction and Brazil Risks Pressure Noble's Outlook

Quarter

EPS (Act vs Est)

Revenue (Act vs Est)

Q4 2026Latest

Oct 26, 2026

-$0.57-348.1%

vs $0.23

$729M+2.1%

vs $714M

Q3 2026

Jul 27, 2026

$0.01-93.5%

vs $0.15

$720M+3.1%

vs $698M

Q2 2026

Apr 26, 2026

$0.26+23.8%

vs $0.21

$786M+7.6%

vs $730M

Q1 2026

Feb 11, 2026

$0.09-40.0%

vs $0.15

$764M+4.6%

vs $731M

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

NENoble Corporation PlcCurrent

$40.87

$6.52B

121.60

7.45%

1.79%

1.2%

4.89%

VALValaris Limited

$79.77

$5.52B

7.03

0.27%

37.35%

24.89%

—

RIGTransocean Ltd.

$5.24

$5.33B

20.22

12.51%

7.25%

3.53%

—

SDRLSeadrill Limited

$42.20

$2.64B

-143.54

3.75%

-1.13%

-0.63%

—

HPHelmerich & Payne, Inc.

$35.22

$3.52B

-25.63

35.89%

-3.44%

-5.08%

2.88%

NBRNabors Industries Ltd.

$73.20

$1.08B

-17.87

8.69%

-1.82%

-4.08%

0.57%