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Noble Corporation Plc

NE

Noble Corporation Plc • NYSE
$30.62 ▲ 0.62% (+0.19)
Market Cap $4.86 B
52w High $35.06
52w Low $17.40
Dividend Yield 2.50%
P/E 22.03
Volume 706.14K
Outstanding Shares 158.84M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $798.017M ▼ $33.301M ▼ $-21.095M ▼ -2.643% ▼ $-0.13 ▼ $198.386M ▼
Q2-2025 $848.652M ▼ $35.527M ▼ $42.872M ▼ 5.052% ▼ $0.27 ▼ $287.868M ▼
Q1-2025 $874.487M ▼ $178.345M ▲ $108.303M ▲ 12.385% ▲ $0.68 ▲ $332.313M ▲
Q4-2024 $927.341M ▲ $31.273M ▼ $96.648M ▲ 10.422% ▲ $0.554 ▲ $304.017M ▲
Q3-2024 $800.549M $43.596M $61.216M 7.647% $0.41 $227.654M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $477.946M ▲ $7.639B ▼ $3.105B ▲ $4.534B ▼
Q2-2025 $338.185M ▲ $7.667B ▼ $3.039B ▼ $4.628B ▼
Q1-2025 $303.755M ▲ $7.91B ▲ $3.252B ▲ $4.658B ▲
Q4-2024 $247.303M ▼ $7.864B ▼ $3.212B ▼ $4.651B ▼
Q3-2024 $391.858M $8.035B $3.35B $4.685B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-21.095M ▼ $277.136M ▲ $-51.951M ▲ $-86.122M ▼ $139.063M ▲ $139.477M ▲
Q2-2025 $42.872M ▼ $216.357M ▼ $-93.581M ▲ $-86.057M ▲ $36.719M ▼ $99.776M ▼
Q1-2025 $108.303M ▲ $271.06M ▲ $-98.145M ▲ $-116.46M ▲ $56.455M ▲ $157.524M ▲
Q4-2024 $96.648M ▲ $136.214M ▼ $-145.219M ▲ $-143.809M ▼ $-152.814M ▼ $-4.448M ▼
Q3-2024 $61.216M $283.781M $-513.987M $466.813M $236.607M $156.779M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Floaters
Floaters
 $730.00M ▲$690.00M ▼$680.00M ▼$630.00M ▼
Jackups
Jackups
 $150.00M ▲$140.00M ▼$130.00M ▼$130.00M ▲
Oil and Gas Service
Oil and Gas Service
 $880.00M ▲$830.00M ▼$810.00M ▼$760.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Noble’s profit and loss profile has transformed from heavy losses a few years ago to solid, recurring profitability. Revenue has expanded quickly as offshore activity recovered and the company absorbed acquisitions, and operating margins have improved from barely breakeven to clearly positive. Earnings have been consistently in the black for several years now, though most recent profit growth is slower than revenue growth, suggesting some integration costs, higher interest, or mix effects. Overall, the business looks firmly back in a healthy earnings phase, but it remains tied to a cyclical, contract‑driven offshore market where dayrates and utilization can swing with oil prices and customer spending plans.

Balance Sheet

Balance Sheet The balance sheet has moved from a stressed, even negative equity position to one with a sizable equity base and a much larger pool of assets, reflecting fleet expansion and acquisitions. Debt has risen meaningfully from very low levels and is now a more important part of the capital structure, though it appears supported by the expanded equity cushion. Cash on hand is modest relative to total assets, which is typical for asset‑heavy drillers but means the company depends on steady cash generation and access to funding. The picture is one of a rebuilt, scaled‑up asset base with moderate leverage, but with the usual sensitivity of a capital‑intensive, cyclical business to downturns and interest costs.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has strengthened and become more reliable, moving from roughly breakeven to clearly positive and growing. However, the company continues to reinvest heavily in its fleet and technology, so free cash flow after capital spending is positive but relatively thin and somewhat uneven year to year. This pattern—good operating cash flow but large, ongoing investment—fits a capital‑intensive offshore driller: it can create significant value in good markets, but it leaves less cushion if activity slows and may limit flexibility for rapid debt reduction or large shareholder returns in weaker periods.

Competitive Edge

Competitive Edge Noble now sits among the leaders in offshore drilling, with one of the larger and more modern fleets, especially in high‑end deepwater drillships and harsh‑environment rigs. The acquisitions of Maersk Drilling and Diamond Offshore assets have broadened its geographic reach, customer base, and contract backlog, while also giving it more scale to spread fixed costs. Its reputation for operational reliability, safety, and high‑spec equipment helps it win and renew contracts with major oil companies and national oil companies. At the same time, it still operates in a small group of capable global competitors, with pricing power ultimately constrained by tender cycles, customer bargaining power, and the broader offshore spending environment.

Innovation and R&D

Innovation and R&D Noble stands out in its sector for pushing digital and technical upgrades across its fleet. Its “Digital Rig” and AI‑driven predictive maintenance tools aim to cut downtime and maintenance costs, while advanced training simulators and dynamic positioning systems seek to improve safety and operational precision. Proprietary technologies such as the electrically powered blowout preventer and in‑house managed pressure drilling offerings further differentiate its rigs on complex wells. Real‑time emissions monitoring shows a clear nod toward environmental performance and regulatory expectations. Future value from innovation will hinge on how well Noble integrates acquired technologies, deepens automation and remote operations, and continues to reduce the environmental footprint of its rigs.

Summary

Overall, Noble has transitioned from restructuring and losses to a larger, more profitable, and more technologically advanced offshore driller. Earnings, margins, and operating cash flows have improved meaningfully, backed by an expanded modern fleet and a stronger competitive position after major acquisitions. The company’s focus on digitalization, safety, and specialized drilling capabilities supports its standing with blue‑chip customers and may widen its moat over time. Key risks remain: the fundamental cyclicality of offshore drilling, heavy capital needs, higher leverage than in the past, integration execution, and exposure to long‑term energy transition dynamics. The current profile is that of a scaled, innovation‑leaning offshore contractor that is benefiting from an upcycle but must manage through an industry that can change direction quickly.

NEWS

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