NE

MKT CAP:$8B

Noble Corporation Plc

Market Cap

$8B

Energy·Oil & Gas Drilling·🇺🇸 United States·NYSE

Energy·Oil & Gas Drilling·🇺🇸·NYSE

Stock Price

$49.68+$20.68 (+71.31%)

Apr 24, 2026

Company Details

Noble 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 o...

CEO

Robert W. Eifler

IPO Date

Jun 9, 2021

Website

www.noblecorp.com

Key Metrics TTM

Revenue

$3.3B

+7.4% YoY

Net Income

$217M

EPS (Diluted)

$1.35

Free Cash Flow

$432M

Revenue / Share

$20.51

Gross Margin

19.7%

Operating Margin

15.7%

Net Margin

6.6%

FCF Margin

13.2%

P/S

2.4x

P/E

36.1x

Earnings Reports

Q1 2026

Apr 27, 2026

PENDING

FY 2025

Feb 12, 2026

$3.3B+7.4%EPS $1.35

Q4 2025

Feb 12, 2026

$764M-17.6%EPS $0.54

Q3 2025

Oct 28, 2025

$798M-0.3%EPS -$0.13

Q2 2025

Aug 6, 2025

$849M+22.5%EPS $0.27

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$210M	$5M	-$12M
Q2 22	$275M	$60M	$43M
Q3 22	$306M	$81M	$63M
Q4 22	$623M	$159M	$129M
Q1 23	$610M	$152M	$122M
Q2 23	$639M	$180M	$148M
Q3 23	$697M	$249M	$216M
Q4 23	$643M	$162M	$129M
Q1 24	$637M	$143M	$117M
Q2 24	$693M	$243M	$203M
Q3 24	$801M	$228M	$185M
Q4 24	$927M	$223M	$191M
Q1 25	$874M	$237M	$202M
Q2 25	$849M	$171M	$136M
Q3 25	$798M	$140M	$107M
Q4 25	$764M	$100M	$70M

Valuation

Quarter	P/S	P/E
Q1 22	7.9x	82.9x
Q2 22	5.8x	53.7x
Q3 22	4.0x	25.2x
Q4 22	3.6x	29.8x
Q1 23	3.1x	18.0x
Q2 23	2.7x	17.3x
Q3 23	2.7x	15.1x
Q4 23	2.6x	13.8x
Q1 24	2.6x	14.5x
Q2 24	2.4x	10.8x
Q3 24	1.9x	10.7x
Q4 24	1.5x	10.1x
Q1 25	1.1x	8.2x
Q2 25	1.2x	13.6x
Q3 25	1.3x	20.2x
Q4 25	1.4x	20.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$52M	-$99M
Q2 22	$88M	$56M
Q3 22	$74M	$44M
Q4 22	$171M	$106M
Q1 23	-$63M	-$126M
Q2 23	$211M	$104M
Q3 23	$139M	$40M
Q4 23	$287M	$146M
Q1 24	$129M	-$38M
Q2 24	$107M	-$35M
Q3 24	$284M	$157M
Q4 24	$136M	-$4M
Q1 25	$271M	$158M
Q2 25	$216M	$100M
Q3 25	$277M	$139M
Q4 25	$187M	$35M

Capital Expenditures

Quarter	CapEx
Q1 22	$47M
Q2 22	$32M
Q3 22	$30M
Q4 22	$65M
Q1 23	$63M
Q2 23	$107M
Q3 23	$99M
Q4 23	$141M
Q1 24	$167M
Q2 24	$142M
Q3 24	$127M
Q4 24	$141M
Q1 25	$114M
Q2 25	$117M
Q3 25	$138M
Q4 25	$152M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+23.7%	+19.2%
Q2 22	+25.4%	-9.9%
Q3 22	+22.2%	-1.0%
Q4 22	+223.5%	+793.9%
Q1 23	+190.2%	+119.0%
Q2 23	+132.1%	+111.8%
Q3 23	+128.0%	+98.2%
Q4 23	+3.3%	+4.1%
Q1 24	+4.4%	+6.6%
Q2 24	+8.5%	-0.3%
Q3 24	+14.8%	+28.0%
Q4 24	+44.2%	+43.3%
Q1 25	+37.3%	+29.2%
Q2 25	+22.5%	+45.6%
Q3 25	-0.3%	+12.2%
Q4 25	-17.6%	-5.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$7M	3.2%
Q2 22	$7M	2.6%
Q3 22	$7M	2.3%
Q4 22	$14M	2.3%
Q1 23	$10M	1.6%
Q2 23	$9M	1.4%
Q3 23	$9M	1.3%
Q4 23	$10M	1.5%
Q1 24	$8M	1.2%
Q2 24	$7M	1.0%
Q3 24	$22M	2.7%
Q4 24	-$6M	-0.7%
Q1 25	$7M	0.8%
Q2 25	-$7M	-0.8%
Q3 25	-$16M	-2.0%
Q4 25	$46M	6.0%

OpEx Breakdown

Quarter	G&A
Q1 22	$18M
Q2 22	$17M
Q3 22	$18M
Q4 22	$30M
Q1 23	$30M
Q2 23	$32M
Q3 23	$33M
Q4 23	$33M
Q1 24	$26M
Q2 24	$40M
Q3 24	$44M
Q4 24	$31M
Q1 25	$35M
Q2 25	$35M
Q3 25	$33M
Q4 25	$30M

Revenue Segments

Quarter	Oil and Gas Service	Service, Other
Q1 22	$195M	$15M
Q2 22	$262M	$13M
Q3 22	$289M	$16M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$107M	$0	$107M
Q2 22	$165M	$0	$165M
Q3 22	$422M	$0	$422M
Q4 22	$476M	$0	$476M
Q1 23	$186M	$0	$186M
Q2 23	$255M	$0	$255M
Q3 23	$245M	$0	$245M
Q4 23	$368M	$0	$368M
Q1 24	$217M	$0	$217M
Q2 24	$163M	$0	$163M
Q3 24	$392M	$0	$392M
Q4 24	$247M	$0	$247M
Q1 25	$304M	$0	$304M
Q2 25	$338M	$0	$338M
Q3 25	$478M	$0	$478M
Q4 25	$471M	$0	$471M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	199M	0.0%	0.0%
Q2 22	199M	0.0%	0.0%
Q3 22	199M	0.0%	0.0%
Q4 22	147M	-26.1%	-26.1%
Q1 23	146M	-0.9%	-26.7%
Q2 23	147M	+0.7%	-26.2%
Q3 23	146M	-0.9%	-26.8%
Q4 23	146M	+0.2%	-0.9%
Q1 24	146M	0.0%	-0.0%
Q2 24	146M	+0.1%	-0.6%
Q3 24	153M	+4.7%	+5.0%
Q4 24	152M	-0.8%	+3.9%
Q1 25	162M	+6.8%	+10.9%
Q2 25	162M	-0.3%	+10.6%
Q3 25	159M	-1.7%	+3.9%
Q4 25	160M	+0.9%	+5.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$163.8K	4K
Q1 23	$160.5K	4K
Q2 23	$168.0K	4K
Q3 23	$183.5K	4K
Q4 23	$178.6K	4K
Q1 24	$177.0K	4K
Q2 24	$192.5K	4K
Q3 24	$222.4K	4K
Q4 24	$185.5K	5K
Q1 25	$174.9K	5K
Q2 25	$169.7K	5K
Q3 25	$159.6K	5K
Q4 25	$169.9K	5K

Revenue / Employee