Noble Corp Stock Research

NE Stock Price

NE RSI Chart

NE Valuation

Market Cap

2.0B

Price/Earnings (Trailing)

19.89

Price/Sales (Trailing)

2.11

EV/EBITDA

13.04

Price/Free Cashflow

34.95

NE Price/Sales (Trailing)

NE Profitability

EBT Margin

11.46%

Return on Equity

6.64%

Return on Assets

4.77%

Free Cashflow Yield

2.86%

NE Fundamentals

NE Revenue

Revenue (TTM)

943.9M

NE Earnings

Earnings (TTM)

100.2M

Earnings Y/Y

81.34%

Earnings Q/Q

201.09%

Price Action

Last 7 days

0.8%

Last 30 days

-1.3%

Last 90 days

16.5%

Trailing 12 Months

15.6%

NE Financial Health

Current Ratio

1.94

NE Investor Care

Shares Dilution (1Y)

11.46%

Diluted EPS (TTM)

1.41

Peers (Alternatives to Noble)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
SLB	67.3B	28.1B	-13.26%	7.46%	19.56	2.4	22.51%	82.93%
OXY	60.4B	37.1B	1.43%	2.50%	4.68	1.64	40.97%	472.95%
HAL	27.8B	20.3B	-16.97%	-20.24%	17.66	1.37	32.70%	7.89%
VMC	21.8B	7.3B	-9.71%	-9.61%	37.8	2.97	31.75%	-14.19%
MLM	21.1B	6.2B	-6.36%	-13.93%	24.29	3.42	13.79%	23.39%
MID-CAP
CRC	2.7B	2.7B	-11.22%	-23.38%	5.21	1.01	43.30%	-14.38%
SMALL-CAP
NE	2.0B	943.9M	-1.26%	15.64%	19.89	2.11	24.72%	103.49%
UTZ	1.4B	1.4B	3.76%	16.71%	-3.5K	0.97	19.28%	-101.91%
EGLE	601.2M	753.1M	-29.43%	-21.27%	1.93	0.8	55.28%	220.13%

Financials for Noble

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1
Revenue	115.5%	219,779,000	101,982,000	765,354,000	756,819,000	775,394,000
S&GA Expenses	15.4%	72,073,000	62,476,000	62,631,000	63,311,000	-
Costs and Expenses	18.9%	843,537,000	709,493,000	3,671,442,000	3,668,289,000	-
EBITDA	-11.8%	118,277,000	134,082,000	-	-	-
EBITDA Margin	-	0.13	-	-	-	-
Earnings Before Taxes	-16.2%	85,757,000	102,347,000	-2,872,264,000	-2,876,471,000	-
EBT Margin	-	0.10	-	-	-	-
Interest Expenses	2.5%	32,520,000	31,735,000	23,695,000	38,252,000	-
Net Income	-18.1%	83,550,000	101,982,000	-2,844,174,000	-2,871,377,000	-
Net Income Margin	-	0.09	-	-	-	-
Free Cahsflow	-66.4%	-175,381,000	-105,384,000	-	-	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2
Assets	3.2%	2,098	2,033	2,073	2,095	2,150
Current Assets	15.0%	481	418	456	421	467
Cash Equivalents	52.3%	160	105	194	112	169
Net PPE	0.3%	1,497	1,492	1,479	1,462	1,542
Liabilities	3.7%	589	568	573	728	765
Current Liabilities	5.8%	248	234	248	242	272
LT Debt, Non Current	0%	216	216	216	406	406
Shareholder's Equity	3.0%	1,509	1,466	1,501	1,367	1,386
Retained Earnings	56.7%	102	65.00	102	-21.45	2.00
Additional Paid-In Capital	0.5%	1,403	1,395	1,393	1,388	1,383
Accumulated Depreciation	25.9%	128	102	77.00	57.00	39.00
Shares Outstanding	6.4%	67.00	63.00	60.00	60.00	60.00
Float	-	1,500	-	-	-	-

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2
Cashflow From Operations	410.2%	57.00	-18.38	52.00	61.00	256
Share Based Compensation	11.4%	24.00	21.00	17.00	13.00	10.00
Cashflow From Investing	-30.0%	133	190	208	-41.88	-41.47
Cashflow From Financing	-6.9%	-194	-181	-176	13.00	13.00
Buy Backs	NaN%	0.00	0.00	-	-	-

Risks for NE

What is the probability of a big loss on NE?

98.5%

Probability that Noble stock will be more than 20% underwater in next one year

96.9%

Probability that Noble stock will be more than 30% underwater in next one year.

78.1%

Probability that Noble stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does NE drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Noble was unfortunately bought at previous high price.

Drawdowns

Returns for NE

Cumulative Returns on NE

3.7%

10-Year Cumulative Returns

20.5%

7-Year Cumulative Returns

57.3%

5-Year Cumulative Returns

390.2%

3-Year Cumulative Returns

What are the long-term rolling returns for NE?

FIve years rolling returns for Noble.

Annualized Returns

Which funds bought or sold NE recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-62.03	-370,427	347,573	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-23.13	-131,000	6,457,000	0.03%
2023-03-03	ROBOTTI ROBERT	reduced	-0.17	3,020,510	14,097,500	2.81%
2023-03-01	Goehring & Rozencwajg Associates, LLC	new	-	5,028,990	5,028,990	1.79%
2023-02-28	Voya Investment Management LLC	new	-	2,872,970	2,872,970	-%
2023-02-27	Parallax Volatility Advisers, L.P.	reduced	-99.74	-537,190	1,810	-%
2023-02-21	Triasima Portfolio Management inc.	sold off	-100	-31,000	-	-%
2023-02-16	DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main	new	-	242,928	242,928	-%
2023-02-15	NOMURA HOLDINGS INC	added	0.79	98,000	680,000	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	added	85.4	2,157,880	5,206,880	-%

Latest Funds Activity

Are funds buying NE calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own NE

No. of Funds

Noble News

Schedule 13G FIlings of Noble

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	canyon capital advisors llc	4.74%	6,617,230	SC 13G/A
Feb 13, 2023	king street capital management, l.p.	0%	0	SC 13G/A
Feb 14, 2022	pacific investment management co llc	42%	25,531,373	SC 13G
Feb 14, 2022	canyon capital advisors llc	9.9%	6,219,894	SC 13G
Feb 11, 2022	king street capital management, l.p.	7.12%	4,286,905	SC 13G
Feb 16, 2021	firefly value partners, lp	0%	0	SC 13G/A
Feb 12, 2021	contrarius investment management ltd	0%	0	SC 13G/A
Jul 10, 2020	blackrock inc.	3.1%	7,688,839	SC 13G/A
Jun 09, 2020	blackrock inc.	9.2%	23,044,225	SC 13G/A
Feb 14, 2020	firefly value partners, lp	9.1%	22,708,790	SC 13G/A

NE Fair Value

Recent SEC filings of Noble

View All Filings

Date Filed	Form Type	Document
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 13, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for NE

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2022-09-27	PACIFIC INVESTMENT MANAGEMENT CO LLC	sold	-2,499,770	27.79	-89,952	-
2022-09-26	PACIFIC INVESTMENT MANAGEMENT CO LLC	sold	-1,420,690	27.75	-51,196	-
2022-09-23	PACIFIC INVESTMENT MANAGEMENT CO LLC	sold	-2,938,650	27.76	-105,859	-
2022-09-22	PACIFIC INVESTMENT MANAGEMENT CO LLC	sold	-273,960	30.44	-9,000	-
2022-09-21	PACIFIC INVESTMENT MANAGEMENT CO LLC	sold	-2,001,130	31.02	-64,511	-
2022-09-20	PACIFIC INVESTMENT MANAGEMENT CO LLC	sold	-3,066,150	30.95	-99,068	-
2022-09-19	PACIFIC INVESTMENT MANAGEMENT CO LLC	sold	-3,385,750	31.85	-106,303	-
2022-09-16	PACIFIC INVESTMENT MANAGEMENT CO LLC	sold	-6,335,830	32.71	-193,697	-
2022-09-12	PACIFIC INVESTMENT MANAGEMENT CO LLC	sold	-4,020,160	33.55	-119,826	-
2022-09-09	PACIFIC INVESTMENT MANAGEMENT CO LLC	sold	-5,960,160	33.08	-180,174	-

About Noble

Robert W. Eifler

www.noblecorp.com

1800

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 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.

NE Income Statement

2022-06-30

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
	Feb. 05, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2022
Operating revenues
Operating revenues	$ 77,481	$ 275,153	$ 219,343	$ 311,776	$ 485,383
Operating costs and expenses
Depreciation and amortization	20,622	26,636	25,339	39,583	52,241
General and administrative	5,727	16,687	25,030	32,957	34,211
Merger and integration costs	0	9,057	6,740	8,753	18,578
(Gain) loss on sale of operating assets, net	0	1,103	0	0	(3,459)
Hurricane losses and (recoveries), net	0	(14,407)	0	0	2,805
Total operating costs and expenses	76,051	227,554	263,892	374,709	472,415
Operating income (loss)	1,430	47,599	(44,549)	(62,933)	12,968
Other income (expense)
Interest expense, net of amounts capitalized	(229)	(7,715)	(7,863)	(14,758)	(15,395)
Gain on bargain purchase	0	0	64,479	64,479	0
Interest income and other, net	399	1,081	6,509	6,517	1,531
Reorganization items, net	252,051			0	0
Income (loss) before income taxes	253,651	40,965	18,576	(6,695)	(896)
Income tax benefit (provision)	(3,423)	(3,908)	1,859	8,906	1,297
Net income (loss)	$ 250,228	$ 37,057	$ 20,435	$ 2,211	$ 401
Basic:
Net income (in usd per share)	$ 1.00	$ 0.53	$ 0.32	$ 0.04	$ 0.01
Diluted:
Net income (in usd per share)	$ 0.98	$ 0.45	$ 0.30	$ 0.04	$ 0
Contract drilling services
Operating revenues
Operating revenues	$ 74,051	$ 262,463	$ 199,897	$ 284,526	$ 457,498
Operating costs and expenses
Cost of services	46,965	178,145	188,712	268,301	344,228
Reimbursables and other
Operating revenues
Operating revenues	3,430	12,690	19,446	27,250	27,885
Operating costs and expenses
Cost of services	$ 2,737	$ 10,333	$ 18,071	$ 25,115	$ 23,811

NE Balance Sheet

2022-06-30

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Feb. 05, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 160,175		$ 194,138
Accounts receivable, net	258,780		200,419
Taxes receivable	16,906		16,063
Prepaid expenses and other current assets	44,794		45,026
Total current assets	480,655		455,646
Intangible assets	33,495		61,849
Property and equipment, at cost	1,624,636		1,555,975
Accumulated depreciation	(128,100)		(77,275)
Property and equipment, net	1,496,536		1,478,700
Other assets	87,260		77,247
Total assets	2,097,946		2,073,442
Current liabilities
Accounts payable	136,144		120,389
Accrued payroll and related costs	33,754		48,346
Taxes payable	24,322		28,735
Interest payable	8,921		9,788
Other current liabilities	44,498		41,136
Total current liabilities	247,639		248,394
Long-term debt	216,000		216,000
Deferred income taxes	6,700		13,195
Other liabilities	118,813		95,226
Total liabilities	589,152		572,815
Commitments and contingencies
Shareholders’ equity
Common stock, $0.00001 par value; 67,050 ordinary shares outstanding as of June 30, 2022; 60,172 ordinary shares outstanding as of December 31, 2021	1		1
Additional paid-in capital	1,402,608		1,393,255
Retained earnings	102,383		101,982
Accumulated other comprehensive income	3,802		5,389
Total shareholders’ equity	1,508,794	$ 1,465,534	1,500,627	$ 1,385,724	$ 1,002,562	$ 1,018,768	$ (311,388)
Total liabilities and equity	$ 2,097,946		$ 2,073,442