Noble NE
United StatesEnergy · Oil & Gas DrillingUSD
48.55 USD (+18.5%)
11 analysts
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Noble Corporation plc is an offshore drilling company that provides oil and gas well drilling services through its fleet of deepwater and ultra-deepwater rigs for energy companies worldwide.
Key points
from its scores- ✓Good share-price trend9.7
- ✕Weak growth0.4
- ✕Little competitive advantage3.4
- ✕Little or no dividend4.2
AI analysis
bottom line, main risk, context and newsStrong momentum and moderate financial health do not offset weak quality, negative growth, and demanding valuation in an uncertain oil price environment.
Noble Corporation presents a mixed financial profile: its financial health is acceptable (6.72) and its momentum is very strong (9.72), but business quality is low (ROE 3.28%, ROIC 4.83%) and growth is negative (revenue -16.3%). Valuation is demanding (P/E 43.59) and the dividend, although attractive (4.88%), is not covered by earnings (payout 212.77%). Exposure to oil price volatility and an uncertain geopolitical scenario adds considerable risk.
The main risk is the reversal of oil prices and drilling margins if the conflict in the Strait of Hormuz is resolved, which could negatively impact revenue and dividend sustainability.
Context and risks
Noble Corporation operates offshore drilling rigs, a business intrinsically exposed to crude oil price volatility and industry supply/demand dynamics. The recent escalation in the Strait of Hormuz and the possibility of an agreement that releases the geopolitical risk premium create significant asymmetry: drilling margins, currently supported by contracts at elevated prices, could reverse quickly if oil prices collapse. This exposure to a binary geopolitical scenario is not reflected in traditional financial metrics.
Is Noble stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 91% above the Energy median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 43.6 | 15.7 | +178% |
| EV / EBITDA | 8.5 | 8.0 | +5% |
| Price / book | 1.5 | 2.2 | −35% |
| Price / sales | 2.3 | 1.9 | +18% |
Sector: median of the 102 Energy companies analysed. In bold, the multiples used for the comparison.
Valuation score: 5.2 out of 10 (median for Energy: 5.9).
Average analyst target: 48.55 USD, +18.5% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 3.4 (sector 5.8), Growth 0.4 (sector 7.2).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Energy medianValuation
- P/E
- 43.6
- Forward P/E
- 20.3
- EV / EBITDA
- 8.5
- Price / book
- 1.5
- Price / sales
- 2.3
- Market cap
- 6.5B USD
- Enterprise value
- 8.0B USD
Profitability
- ROE
- 3.3%
- ROA
- 3.1%
- ROIC (approx.)
- 4.8%
- Gross margin
- 35.4%
- Operating margin
- 10.7%
- Net margin
- 5.2%
- Free cash flow
- 252.9M USD
- FCF yield
- 3.9%
- Cash conversion
- 27%
Solvency
- Total debt
- 1.9B USD
- Net debt
- 1.5B USD
- Cash
- 456.2M USD
- EBITDA
- 944.3M USD
- Net debt / EBITDA
- 1.54
- Debt / equity
- 42.56
- Current ratio
- 1.92
- Quick ratio
- 1.75
Growth
- Revenue growth
- −16.3%
- EPS (TTM)
- 0.94 USD
- EPS (forward)
- 2.02 USD
Dividend
- Dividend yield
- 4.9%
- Payout
- 212.8%
Risk and market
- Beta
- 1.01
- Analyst consensus
- Buy (11)
- Target price
- 48.55 USD
- 52-week range
- 26.70 – 54.98
Recent news
All NE news →Compare it with its sector
All 102 in Energy →Frequently asked questions about Noble
Is Noble stock cheap or expensive?
On P/E and EV / EBITDA, it trades 91% above the Energy median on average. Valuation score: 5.2 out of 10 (median for Energy: 5.9). Average analyst target: 48.55 USD, +18.5% versus the price. This is not investment advice.
What score does Noble get on MeridIAn Screener?
It scores 5.3 out of 10, rank 1,542 of 2,130 (better than 26% of the companies analysed). Its strongest category is Momentum (9.7) and its weakest, Growth (0.4). Analysis of 08/10/2026.
What is Noble's P/E ratio?
Its P/E is 43.6: the share price equals 43.6 times earnings per share over the last 12 months. The Energy median is 15.7. Based on the earnings analysts expect, the forward P/E is 20.3.
How much is Noble worth on the stock market?
Its market capitalisation is 6.5B USD and its enterprise value, debt included, is 8.0B USD.
How much debt does Noble have?
Its net debt (debt minus cash) is 1.5B USD. That is 1.54 times its EBITDA; the Energy median is 1.23.
Does Noble pay a dividend?
Yes: its dividend yield is 4.88% and it pays out 213% of its earnings.
How has Noble stock performed over the last year?
It has risen 60.9% over the last year, excluding dividends. Over the last 52 weeks it has traded between 26.70 and 54.98 USD. Past performance does not guarantee future results.
What do analysts think of Noble?
11 analysts cover it; their average recommendation is “Buy” and their average target is 48.55 USD (+18.5% versus the price). It is an estimate, not market data.