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NOBLE CORP PLC (NE) Stock Fundamental Analysis

NYSE:NE - New York Stock Exchange, Inc. - GB00BMXNWH07 - Common Stock - Currency: USD

32.63  +0.61 (+1.91%)

After market: 32.64 +0.01 (+0.03%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to NE. NE was compared to 58 industry peers in the Energy Equipment & Services industry. While NE is still in line with the averages on profitability rating, there are concerns on its financial health. NE is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

NE had positive earnings in the past year.
In the past year NE had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: NE reported negative net income in multiple years.
Each year in the past 5 years NE had a positive operating cash flow.
NE Yearly Net Income VS EBIT VS OCF VS FCFNE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B -1B -2B -3B

1.2 Ratios

NE has a Return On Assets of 6.24%. This is in the better half of the industry: NE outperforms 63.79% of its industry peers.
The Return On Equity of NE (10.70%) is comparable to the rest of the industry.
With a decent Return On Invested Capital value of 8.10%, NE is doing good in the industry, outperforming 62.07% of the companies in the same industry.
Industry RankSector Rank
ROA 6.24%
ROE 10.7%
ROIC 8.1%
ROA(3y)9.66%
ROA(5y)-14.56%
ROE(3y)13.48%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
NE Yearly ROA, ROE, ROICNE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200 400 600 800 1K

1.3 Margins

Looking at the Profit Margin, with a value of 18.08%, NE belongs to the top of the industry, outperforming 91.38% of the companies in the same industry.
With an excellent Operating Margin value of 22.86%, NE belongs to the best of the industry, outperforming 87.93% of the companies in the same industry.
Looking at the Gross Margin, with a value of 41.34%, NE belongs to the top of the industry, outperforming 86.21% of the companies in the same industry.
NE's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 22.86%
PM (TTM) 18.08%
GM 41.34%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y3.75%
GM growth 5Y1%
NE Yearly Profit, Operating, Gross MarginsNE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -100 -200 -300 -400

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NE is destroying value.
NE has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, NE has less shares outstanding
Compared to 1 year ago, NE has an improved debt to assets ratio.
NE Yearly Shares OutstandingNE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M 250M
NE Yearly Total Debt VS Total AssetsNE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B 10B

2.2 Solvency

Based on the Altman-Z score of 1.68, we must say that NE is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 1.68, NE is not doing good in the industry: 63.79% of the companies in the same industry are doing better.
NE has a debt to FCF ratio of 8.77. This is a slightly negative value and a sign of low solvency as NE would need 8.77 years to pay back of all of its debts.
The Debt to FCF ratio of NE (8.77) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.43 indicates that NE is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.43, NE is in line with its industry, outperforming 46.55% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.43
Debt/FCF 8.77
Altman-Z 1.68
ROIC/WACC0.88
WACC9.25%
NE Yearly LT Debt VS Equity VS FCFNE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B 4B 6B

2.3 Liquidity

NE has a Current Ratio of 1.57. This is a normal value and indicates that NE is financially healthy and should not expect problems in meeting its short term obligations.
NE has a Current ratio of 1.57. This is in the lower half of the industry: NE underperforms 65.52% of its industry peers.
NE has a Quick Ratio of 1.57. This is a normal value and indicates that NE is financially healthy and should not expect problems in meeting its short term obligations.
With a Quick ratio value of 1.57, NE perfoms like the industry average, outperforming 55.17% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.57
Quick Ratio 1.57
NE Yearly Current Assets VS Current LiabilitesNE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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5

3. Growth

3.1 Past

NE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 15.68%, which is quite good.
The Revenue has been growing slightly by 7.97% in the past year.
Measured over the past years, NE shows a quite strong growth in Revenue. The Revenue has been growing by 19.05% on average per year.
EPS 1Y (TTM)15.68%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-33.33%
Revenue 1Y (TTM)7.97%
Revenue growth 3Y38.99%
Revenue growth 5Y19.05%
Sales Q2Q%14.78%

3.2 Future

Based on estimates for the next years, NE will show a very strong growth in Earnings Per Share. The EPS will grow by 35.51% on average per year.
The Revenue is expected to grow by 14.48% on average over the next years. This is quite good.
EPS Next Y45.44%
EPS Next 2Y24.78%
EPS Next 3Y35.51%
EPS Next 5YN/A
Revenue Next Year18.04%
Revenue Next 2Y18.06%
Revenue Next 3Y14.48%
Revenue Next 5YN/A

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
NE Yearly Revenue VS EstimatesNE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1B 2B 3B 4B
NE Yearly EPS VS EstimatesNE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 2 -2 4

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6

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 15.25 indicates a correct valuation of NE.
68.97% of the companies in the same industry are more expensive than NE, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 28.51. NE is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 11.45, the valuation of NE can be described as reasonable.
Based on the Price/Forward Earnings ratio, NE is valued a bit cheaper than the industry average as 63.79% of the companies are valued more expensively.
NE's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 93.88.
Industry RankSector Rank
PE 15.25
Fwd PE 11.45
NE Price Earnings VS Forward Price EarningsNE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

NE's Enterprise Value to EBITDA ratio is in line with the industry average.
NE's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 22.69
EV/EBITDA 6.74
NE Per share dataNE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
NE has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as NE's earnings are expected to grow with 35.51% in the coming years.
PEG (NY)0.34
PEG (5Y)N/A
EPS Next 2Y24.78%
EPS Next 3Y35.51%

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5

5. Dividend

5.1 Amount

NE has a Yearly Dividend Yield of 6.01%, which is a nice return.
NE's Dividend Yield is rather good when compared to the industry average which is at 3.32. NE pays more dividend than 94.83% of the companies in the same industry.
NE's Dividend Yield is rather good when compared to the S&P500 average which is at 2.27.
Industry RankSector Rank
Dividend Yield 6.01%

5.2 History

The dividend of NE decreases each year by -14.22%.
NE has been paying a dividend for over 5 years, so it has already some track record.
NE has decreased its dividend recently.
Dividend Growth(5Y)-14.22%
Div Incr Years1
Div Non Decr Years1
NE Yearly Dividends per shareNE Yearly Dividends per shareYearly Dividends per share 2015 2016 2023 2024 0.5 1 1.5

5.3 Sustainability

NE pays out 50.77% of its income as dividend. This is a bit on the high side, but may be sustainable.
DP50.77%
EPS Next 2Y24.78%
EPS Next 3Y35.51%
NE Yearly Income VS Free CF VS DividendNE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B -1B -2B -3B
NE Dividend Payout.NE Dividend Payout, showing the Payout Ratio.NE Dividend Payout.PayoutRetained Earnings

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NOBLE CORP PLC

NYSE:NE (1/30/2025, 8:04:00 PM)

After market: 32.64 +0.01 (+0.03%)

32.63

+0.61 (+1.91%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)11-05 2024-11-05/amc
Earnings (Next)02-20 2025-02-20/amc
Inst Owners63.77%
Inst Owner Change0%
Ins Owners1.64%
Ins Owner Change5.49%
Market Cap5.23B
Analysts81.82
Price Target47.48 (45.51%)
Short Float %7.89%
Short Ratio5.25
Dividend
Industry RankSector Rank
Dividend Yield 6.01%
Yearly Dividend0.72
Dividend Growth(5Y)-14.22%
DP50.77%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-9.42%
Min EPS beat(2)-29.22%
Max EPS beat(2)10.37%
EPS beat(4)1
Avg EPS beat(4)-16.8%
Min EPS beat(4)-34.55%
Max EPS beat(4)10.37%
EPS beat(8)3
Avg EPS beat(8)-12.03%
EPS beat(12)4
Avg EPS beat(12)-607.2%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)4.82%
Min Revenue beat(2)3.67%
Max Revenue beat(2)5.98%
Revenue beat(4)4
Avg Revenue beat(4)4.42%
Min Revenue beat(4)3.51%
Max Revenue beat(4)5.98%
Revenue beat(8)8
Avg Revenue beat(8)6.18%
Revenue beat(12)9
Avg Revenue beat(12)1.97%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-4.03%
PT rev (3m)-14.67%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-37.27%
EPS NY rev (1m)0%
EPS NY rev (3m)-18.54%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)22.01%
Revenue NY rev (1m)-1.57%
Revenue NY rev (3m)8.5%
Valuation
Industry RankSector Rank
PE 15.25
Fwd PE 11.45
P/S 1.89
P/FCF 22.69
P/OCF 6.49
P/B 1.12
P/tB 1.12
EV/EBITDA 6.74
EPS(TTM)2.14
EY6.56%
EPS(NY)2.85
Fwd EY8.73%
FCF(TTM)1.44
FCFY4.41%
OCF(TTM)5.03
OCFY15.42%
SpS17.29
BVpS29.21
TBVpS29.2
PEG (NY)0.34
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 6.24%
ROE 10.7%
ROCE 8.89%
ROIC 8.1%
ROICexc 8.57%
ROICexgc 8.57%
OM 22.86%
PM (TTM) 18.08%
GM 41.34%
FCFM 8.32%
ROA(3y)9.66%
ROA(5y)-14.56%
ROE(3y)13.48%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y3.75%
GM growth 5Y1%
F-Score5
Asset Turnover0.35
Health
Industry RankSector Rank
Debt/Equity 0.43
Debt/FCF 8.77
Debt/EBITDA 1.99
Cap/Depr 155.59%
Cap/Sales 20.77%
Interest Coverage 250
Cash Conversion 80.34%
Profit Quality 46%
Current Ratio 1.57
Quick Ratio 1.57
Altman-Z 1.68
F-Score5
WACC9.25%
ROIC/WACC0.88
Cap/Depr(3y)119.7%
Cap/Depr(5y)91.99%
Cap/Sales(3y)16.03%
Cap/Sales(5y)16.82%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)15.68%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-33.33%
EPS Next Y45.44%
EPS Next 2Y24.78%
EPS Next 3Y35.51%
EPS Next 5YN/A
Revenue 1Y (TTM)7.97%
Revenue growth 3Y38.99%
Revenue growth 5Y19.05%
Sales Q2Q%14.78%
Revenue Next Year18.04%
Revenue Next 2Y18.06%
Revenue Next 3Y14.48%
Revenue Next 5YN/A
EBIT growth 1Y3.01%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year101.87%
EBIT Next 3Y42.6%
EBIT Next 5Y28.24%
FCF growth 1Y2846%
FCF growth 3Y9.85%
FCF growth 5YN/A
OCF growth 1Y487.19%
OCF growth 3Y28.1%
OCF growth 5Y27.29%