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Noble Corporation Plc (NE) 10-Year Financial Performance & Capital Metrics

NE • • Industrial / General
EnergyOil & Gas DrillingOffshore Drilling ContractorsDeepwater & Harsh Environment Specialists
AboutNoble 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.Show more
  • Revenue $3.06B +18.1%
  • EBITDA $1.03B +34.2%
  • Net Income $448M -7.0%
  • EPS (Diluted) 2.96 -10.8%
  • Gross Margin 27.36% -4.8%
  • EBITDA Margin 33.77% +13.7%
  • Operating Margin 19.75% -11.0%
  • Net Margin 14.66% -21.2%
  • ROE 10.46% -18.3%
  • ROIC 8.5% -21.4%
  • Debt/Equity 0.45 +187.1%
  • Interest Coverage 6.41 -34.0%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 18.6%
  • ✓Healthy dividend yield of 5.6%
  • ✓Trading at only 1.1x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-0.55%
5Y18.56%
3Y53.36%
TTM24.34%

Profit (Net Income) CAGR

10Y48.68%
5Y-
3Y8.38%
TTM-54.78%

EPS CAGR

10Y56.49%
5Y-
3Y18.7%
TTM-59.65%

ROCE

10Y Avg4.36%
5Y Avg4.92%
3Y Avg9.83%
Latest10.16%

Peer Comparison

Deepwater & Harsh Environment Specialists
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
NENoble Corporation Plc5.24B32.9811.1418.11%6.57%5%1.53%0.45
SDRLSeadrill Limited2.19B35.195.52-5.78%2.51%1.19%0.21
RIGTransocean Ltd.4.78B4.34-7.2324.44%-75.71%-36.31%4.04%0.70

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+3.35B2.67B1.25B1.08B1.31B964.27M847.81M1.41B2.59B3.06B
Revenue Growth %0.04%-0.2%-0.53%-0.13%0.21%-0.26%-0.12%0.67%0.83%0.18%
Cost of Goods Sold+1.93B1.53B1.21B1.15B1.19B989.8M855.13M1.11B1.85B2.22B
COGS % of Revenue0.58%0.58%0.96%1.07%0.91%1.03%1.01%0.78%0.71%0.73%
Gross Profit+1.42B1.13B44.4M-70.72M117.49M-25.53M-7.33M305.44M743.75M836.55M
Gross Margin %0.42%0.42%0.04%-0.07%0.09%-0.03%-0.01%0.22%0.29%0.27%
Gross Profit Growth %0.36%-0.2%-0.96%-2.59%2.66%-1.22%0.71%42.69%1.43%0.12%
Operating Expenses+76.84M69.26M71.63M73.22M68.79M121.2M68.2M82.18M169.04M140.5M
OpEx % of Revenue0.02%0.03%0.06%0.07%0.05%0.13%0.08%0.06%0.07%0.05%
Selling, General & Admin76.84M69.26M71.63M73.22M68.79M121.2M68.2M82.18M128.41M140.5M
SG&A % of Revenue0.02%0.03%0.06%0.07%0.05%0.13%0.08%0.06%0.05%0.05%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses0000000040.63M0
Operating Income+1.34B1.06B-27.23M-143.94M48.7M-137.72M-75.53M228.77M574.71M603.98M
Operating Margin %0.4%0.4%-0.02%-0.13%0.04%-0.14%-0.09%0.16%0.22%0.2%
Operating Income Growth %0.43%-0.21%-1.03%-4.29%1.34%-3.83%0.45%4.03%1.51%0.05%
EBITDA+1.98B1.67B520.76M342.59M488.92M236.41M34.63M375.65M769.27M1.03B
EBITDA Margin %0.59%0.63%0.42%0.32%0.37%0.25%0.04%0.27%0.3%0.34%
EBITDA Growth %0.26%-0.15%-0.69%-0.34%0.43%-0.52%-0.85%9.85%1.05%0.34%
D&A (Non-Cash Add-back)634.3M611.07M547.99M486.53M440.22M374.13M110.16M146.88M194.57M428.63M
EBIT1.34B-744.11M-157.82M-939.57M-51.46M-4.07B387.96M234.22M571.38M586.54M
Net Interest Income+-177.57M-222.9M-286.54M-289.31M-6.49M-155.64M-20.62M-28.36M-41.07M-94.21M
Interest Income36.29M18K5.45M8.3M272.94M9.01M11.34M14.37M18.07M0
Interest Expense213.85M222.91M291.99M297.61M279.44M164.65M31.96M42.72M59.14M94.21M
Other Income/Expense-598.28M-2.03B-286.54M-291.1M-242.81M-162.32M293.74M-37.27M-62.46M-111.65M
Pretax Income+742.43M-967.03M-449.81M-1.24B-909.09M-4.24B356M191.5M512.24M492.33M
Pretax Margin %0.22%-0.36%-0.36%-1.14%-0.7%-4.4%0.42%0.14%0.2%0.16%
Income Tax+159.23M-109.16M42.63M-106.64M-38.54M-260.4M3.79M22.55M30.34M43.98M
Effective Tax Rate %0.67%0.96%1.15%0.72%0.77%0.94%0.99%0.88%0.94%0.91%
Net Income+499.79M-929.58M-516.51M-885.05M-700.59M-3.98B352.21M168.95M481.9M448.35M
Net Margin %0.15%-0.35%-0.41%-0.82%-0.54%-4.13%0.42%0.12%0.19%0.15%
Net Income Growth %57.86%-2.86%0.44%-0.71%0.21%-4.68%1.09%-0.52%1.85%-0.07%
Net Income (Continuing)583.2M-857.87M-492.44M-1.13B-870.54M-3.98B352.21M168.95M481.9M448.35M
Discontinued Operations00-1.49M0-3.82M00000
Minority Interest723M708.76M674.47M401.4M000000
EPS (Diluted)+2.06-3.82-2.11-3.59-2.81-15.861.770.853.322.96
EPS Growth %60.31%-2.85%0.45%-0.7%0.22%-4.64%1.11%-0.52%2.91%-0.11%
EPS (Basic)2.06-3.82-2.11-3.59-2.81-15.861.840.883.483.01
Diluted Shares Outstanding242.15M243.13M244.74M246.61M248.95M250.79M199.18M199.18M145.2M151.64M
Basic Shares Outstanding242.15M243.13M244.74M246.61M248.95M250.79M191.5M191.5M138.38M148.73M
Dividend Payout Ratio0.63%-------0.21%0.62%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+1.24B1.19B1.04B659.06M422.11M602.28M455.65M1.05B1.06B1.39B
Cash & Short-Term Investments512.25M725.72M662.83M375.23M105.92M365.03M194.14M476.21M360.79M247.3M
Cash Only512.25M725.72M662.83M375.23M105.92M365.03M194.14M476.21M360.79M247.3M
Short-Term Investments0000000000
Accounts Receivable554.46M374.63M225.93M246.52M279.73M189.32M206.16M479.97M588.69M879.4M
Days Sales Outstanding60.3751.2865.983.178.2171.6688.76123.9182.99104.97
Inventory0000000000
Days Inventory Outstanding----------
Other Current Assets55.52M69.88M105.34M37.31M61.07M52.47M18.66M106.78M112.27M262.16M
Total Non-Current Assets+11.63B10.25B9.76B8.61B7.86B3.66B1.62B4.18B4.45B6.58B
Property, Plant & Equipment11.48B10.06B9.49B8.48B7.77B3.6B1.5B3.98B4.15B6.04B
Fixed Asset Turnover0.29x0.27x0.13x0.13x0.17x0.27x0.57x0.36x0.62x0.51x
Goodwill000000026.02M00
Intangible Assets00000061.85M34.37M10.13M214K
Long-Term Investments014M022.37M9.51M3.17M-13.2M-9.34M011.04M
Other Non-Current Assets48.61M171.56M101.48M102.78M85.48M54.76M60.18M141.38M286.7M528.83M
Total Assets+12.87B11.44B10.79B9.26B8.28B4.26B2.07B5.23B5.51B7.96B
Asset Turnover0.26x0.23x0.12x0.12x0.16x0.23x0.41x0.27x0.47x0.38x
Asset Growth %-0.03%-0.11%-0.06%-0.14%-0.11%-0.49%-0.51%1.52%0.05%0.45%
Total Current Liabilities+863.58M633.29M593.02M365.46M516.93M218.35M248.39M667.1M641.68M940.36M
Accounts Payable165.22M82.22M63.03M125.56M108.21M95.16M120.39M290.69M395.17M397.62M
Days Payables Outstanding31.1719.5519.0639.7333.2535.0951.3995.7378.1665.34
Short-Term Debt299.92M299.88M249.84M062.51M00159.72M00
Deferred Revenue (Current)1000K1000K1000K01000K1000K01000K00
Other Current Liabilities255.53M172.95M201.93M189.57M283.57M84.7M51.08M106.96M82.08M273.32M
Current Ratio1.44x1.88x1.75x1.80x0.82x2.76x1.83x1.58x1.65x1.48x
Quick Ratio1.44x1.88x1.75x1.80x0.82x2.76x1.83x1.58x1.65x1.48x
Cash Conversion Cycle----------
Total Non-Current Liabilities+4.58B4.34B4.25B4.24B4.11B4.36B324.42M960.68M944.52M2.37B
Long-Term Debt4.16B4.04B3.8B3.88B3.78B0216M513.05M586.2M1.98B
Capital Lease Obligations000026.78M11.02M13.17M23.85M15.08M65.98M
Deferred Tax Liabilities92.8M2.08M164.96M91.69M68.2M9.29M13.2M9.34M09.2M
Other Non-Current Liabilities417.19M299.15M290.18M367.49M203.26M4.35B95.25M423.77M343.23M315.58M
Total Liabilities5.44B4.97B4.84B4.61B4.63B4.58B572.82M1.63B1.59B3.31B
Total Debt+4.46B4.34B4.05B3.88B3.88B6.91M233.09M672.77M611.87M2.08B
Net Debt3.95B3.61B3.38B3.5B3.77B-358.12M38.95M196.56M251.07M1.84B
Debt / Equity0.60x0.67x0.68x0.83x1.06x-0.16x0.19x0.16x0.45x
Debt / EBITDA2.26x2.59x7.77x11.32x7.93x0.03x6.73x1.79x0.80x2.02x
Net Debt / EBITDA2.00x2.16x6.50x10.22x7.71x-1.51x1.12x0.52x0.33x1.78x
Interest Coverage6.27x4.77x-0.09x-0.48x0.17x-0.84x-2.36x5.35x9.72x6.41x
Total Equity+7.42B6.47B5.95B4.65B3.66B-311.39M1.5B3.61B3.92B4.65B
Equity Growth %0.02%-0.13%-0.08%-0.22%-0.21%-1.09%5.82%1.4%0.09%0.19%
Book Value per Share30.6526.6024.3118.8714.70-1.247.5318.1127.0130.67
Total Shareholders' Equity6.7B5.76B5.28B4.25B3.66B-311.39M1.5B3.61B3.92B4.65B
Common Stock2.42M2.43M2.45M2.47M2.49M2.51M1K1K1K1K
Retained Earnings6.13B5.15B4.64B3.61B2.91B-1.07B101.98M255.93M541.16M411.24M
Treasury Stock0000000000
Accumulated OCI-63.17M-52.14M-42.89M-57.07M-58.39M-58.01M5.39M3.65M3.03M3.97M
Minority Interest723M708.76M674.47M401.4M000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+1.76B1.13B453.9M171.85M186.77M273.2M6.17M280.99M574.34M655.48M
Operating CF Margin %0.53%0.42%0.36%0.16%0.14%0.28%0.01%0.2%0.22%0.21%
Operating CF Growth %-0.01%-0.36%-0.6%-0.62%0.09%0.46%-0.98%44.56%1.04%0.14%
Net Income499.79M-929.58M-515.02M-885.05M-696.77M-3.98B352.21M168.95M481.9M448.35M
Depreciation & Amortization634.3M611.07M547.99M486.53M440.22M374.13M110.16M141.53M194.57M368.59M
Stock-Based Compensation39.17M34.72M29.11M23.99M14.74M9.17M17.22M35.25M37.68M43.8M
Deferred Taxes-36.17M-189.9M241.33M-68.42M-17.82M-26.32M-31.76M-25.63M-98.09M-42.65M
Other Non-Cash Items1.77B2.67B1.16B1.46B1.37B3.82B-275.62M-99.85M13.36M-18.51M
Working Capital Changes123.55M89.33M-21.24M49.91M-20.93M75.44M45.44M60.74M-55.08M-144.12M
Change in Receivables70.17M179.78M114.46M88.82M-9.17M80.68M26.06M23.34M00
Change in Inventory4.02M-125.83M10.86M68.19M-12.35M-81.04M0000
Change in Payables-30.77M-84.87M22.64M14.96M-2.28M357K0000
Cash from Investing+-432.54M-669.93M-155.59M-189.38M-362.77M-121.52M193.45M375.77M-366.51M-959.02M
Capital Expenditures-437.15M-694.74M-157.97M-194.78M-268.78M-148.89M-169.04M-174.32M-409.58M-575.32M
CapEx % of Revenue0.13%0.26%0.13%0.18%0.21%0.15%0.2%0.12%0.16%0.19%
Acquisitions----------
Investments----------
Other Investing-9.99M24.81M2.38M5.4M12.75M27.37M307.52M383.48M43.07M33.34M
Cash from Financing+-886.08M-244.87M-361.2M-269.4M-93.98M107.44M-367.94M-367.77M-325.79M188.08M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-315.53M-47.53M-56.88M-27.58M0000-98.8M-277.83M
Share Repurchases----------
Other Financing-68.95M-112.8M-56.88M-43.22M0-1.43M730K-5.53M-58.75M-52.04M
Net Change in Cash----------
Free Cash Flow+1.33B433.54M295.93M-22.93M-82.01M124.31M-162.87M106.67M164.76M80.16M
FCF Margin %0.4%0.16%0.24%-0.02%-0.06%0.13%-0.19%0.08%0.06%0.03%
FCF Growth %5%-0.67%-0.32%-1.08%-2.58%2.52%-2.31%1.65%0.54%-0.51%
FCF per Share5.471.781.21-0.09-0.330.50-0.820.541.130.53
FCF Conversion (FCF/Net Income)3.53x-1.21x-0.88x-0.19x-0.27x-0.07x0.02x1.66x1.19x1.46x
Interest Paid0000000000
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)6.8%-13.39%-8.32%-16.69%-16.85%-237.69%59.23%6.62%12.8%10.46%
Return on Invested Capital (ROIC)8.57%7.43%-0.21%-1.23%0.47%-3.06%-13.02%6.42%10.81%8.5%
Gross Margin42.29%42.44%3.55%-6.53%9%-2.65%-0.86%21.6%28.73%27.36%
Net Margin14.91%-34.86%-41.28%-81.74%-53.67%-412.59%41.54%11.95%18.61%14.66%
Debt / Equity0.60x0.67x0.68x0.83x1.06x-0.16x0.19x0.16x0.45x
Interest Coverage6.27x4.77x-0.09x-0.48x0.17x-0.84x-2.36x5.35x9.72x6.41x
FCF Conversion3.53x-1.21x-0.88x-0.19x-0.27x-0.07x0.02x1.66x1.19x1.46x
Revenue Growth3.7%-20.45%-53.08%-13.46%20.56%-26.13%-12.08%66.77%83.12%18.11%

Revenue by Segment

2012201320142018201920202021202220232024
Oil and Gas Service---1.04B1.25B717.65M708.13M1.33B2.46B2.92B
Oil and Gas Service Growth----20.27%-42.41%-1.33%88.22%84.70%18.57%
Floaters--------2.01B2.35B
Floaters Growth---------16.89%
Jackups---11.87M16.91M9.28M--451.6M569.12M
Jackups Growth----42.50%-45.13%---26.02%
Service, Other---46.74M59.38M53.28M62.19M81.01M--
Service, Other Growth----27.03%-10.27%16.72%30.25%--
Non Debtor Affiliates-----103.55M----
Non Debtor Affiliates Growth----------
Drillships---20.66M17.25M50.61M----
Drillships Growth-----16.49%193.33%----
Contract Drilling Services, Exclusive Of Contract Termination----1.08B-----
Contract Drilling Services, Exclusive Of Contract Termination Growth----------
Drillships, Exclusive Of Contract Termination----560.32M-----
Drillships, Exclusive Of Contract Termination Growth----------
Semisubmersibles---363K------
Semisubmersibles Growth----------
Contract Drilling Services-4.18B993.25M-------
Contract Drilling Services Growth---76.23%-------
Reimbursable--21.9M-------
Reimbursable Growth----------
Labor Contract Drilling Services--19.3M-------
Labor Contract Drilling Services Growth----------
Other Revenues--2K-------
Other Revenues Growth----------
Reportables3.46B---------
Reportables Growth----------
All Others84.43M---------
All Others Growth----------

Revenue by Geography

2012201320142018201920202021202220232024
GUYANA----132.41M222.09M244.64M469.27M703.47M-
GUYANA Growth-----67.72%10.15%91.82%49.91%-
UNITED STATES----191.55M209.4M156.29M266.18M437.35M-
UNITED STATES Growth-----9.32%-25.36%70.30%64.31%-
NORWAY------20.35M154.41M249.31M-
NORWAY Growth-------658.71%61.46%-
AUSTRALIA----33.62M50.43M1.95M78.9M154.86M-
AUSTRALIA Growth-----50.00%-96.13%3937.82%96.28%-
GHANA-------35.02M150.68M-
GHANA Growth--------330.28%-
NIGERIA--------143.64M-
NIGERIA Growth----------
MEXICO------11.02M30.79M139.59M-
MEXICO Growth-------179.33%353.41%-
Other Countries-------877K129.19M-
Other Countries Growth--------14630.90%-
SURINAME-----61.47M62.09M133.68M108.53M-
SURINAME Growth------1.00%115.30%-18.81%-
BRAZIL------251K33.21M92.02M-
BRAZIL Growth-------13130.28%177.11%-
DENMARK----31.08M7.66M25.12M40.81M88.91M-
DENMARK Growth------75.34%227.84%62.45%117.89%-
MALAYSIA----251.5M--32.23M87.11M-
MALAYSIA Growth--------170.29%-
NETHERLANDS-------13.38M36.51M-
NETHERLANDS Growth--------172.91%-
QATAR----36.95M31.02M23.25M33.18M--
QATAR Growth------16.03%-25.07%42.73%--
SAUDI ARABIA----154.81M133.25M75.68M1.19M--
SAUDI ARABIA Growth------13.93%-43.21%-98.43%--
AZERBAIJAN-------16K--
AZERBAIJAN Growth----------
Canary Islands----------
Canary Islands Growth----------
INDONESIA------23.96M---
INDONESIA Growth----------
SINGAPORE----------
SINGAPORE Growth----------
MAURITANIA------29.62M---
MAURITANIA Growth----------
UNITED ARAB EMIRATES----------
UNITED ARAB EMIRATES Growth----------
CANADA----46.15M28.91M10K---
CANADA Growth------37.34%-99.97%---
MYANMAR----56.21M21.08M----
MYANMAR Growth------62.49%----
VIET NAM-----8.72M----
VIET NAM Growth----------
GABON-----147K----
GABON Growth----------
TANZANIA, UNITED REPUBLIC OF----------
TANZANIA, UNITED REPUBLIC OF Growth----------
BRUNEI DARUSSALAM----------
BRUNEI DARUSSALAM Growth----------
EGYPT----49.21M-----
EGYPT Growth----------
UNITED KINGDOM----243.06M-----
UNITED KINGDOM Growth----------
BULGARIA----61.52M-----
BULGARIA Growth----------

Frequently Asked Questions

Valuation & Price

Noble Corporation Plc (NE) has a price-to-earnings (P/E) ratio of 11.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Noble Corporation Plc (NE) reported $3.45B in revenue for fiscal year 2024. This represents a 28% increase from $2.70B in 2011.

Noble Corporation Plc (NE) grew revenue by 18.1% over the past year. This is strong growth.

Yes, Noble Corporation Plc (NE) is profitable, generating $226.7M in net income for fiscal year 2024 (14.7% net margin).

Dividend & Returns

Yes, Noble Corporation Plc (NE) pays a dividend with a yield of 5.56%. This makes it attractive for income-focused investors.

Noble Corporation Plc (NE) has a return on equity (ROE) of 10.5%. This is reasonable for most industries.

Noble Corporation Plc (NE) generated $392.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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