# Noble Corporation plc (NE)

> Source: Nexqual · https://nexqual.com/NE · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Noble Corporation plc (NE), nexqual.com/NE" · informational, not investment advice.

**Price:** USD 43.95 (-0.14% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 44.01 · day 41.95–44.32 · 52w 27.67–54.98 · market cap $7.02B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $3.07B, net income $150M (4.9% margin), free cash flow $284M (SEC filings).
- Valuation: P/E 46.9x (avg 15.3x at the last 3 fiscal year-ends), net debt $1.43B.
- 2 of 80 tracked superinvestors hold NE (13F, Q2 2026): 0 new, 1 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 7 Form 4 filings, $7.0M; 6 not under a Rule 10b5-1 plan ($4.7M); 3 by opportunistic insiders (3 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.58 on a 1–5 scale) (12 analysts), mean target USD 46.5 (range 25–59).
- Total return with dividends: 1Y +51.3% vs S&P 500 +14.9%; 5Y +95.7% vs S&P 500 +80.3%.
- Next earnings: 2026-10-26, EPS estimate USD 0.23, revenue estimate $711M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2020 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $964M | $1.41B | $2.59B | $3.06B | $3.29B | $3.07B |
| Operating income | -$4.08B | $229M | $575M | $604M | $416M | $349M |
| Net income | -$3.98B | $169M | $482M | $448M | $217M | $150M |
| EPS (diluted) | -$15.86 | $1.73 | $3.32 | $2.96 | $1.35 | — |
| Free cash flow | $124M | $107M | $165M | $80.2M | $432M | $284M |
| Operating margin | -422.8% | 16.2% | 22.2% | 19.8% | 12.6% | 11.4% |
| Net margin | -412.6% | 11.9% | 18.6% | 14.7% | 6.6% | 4.9% |
| Revenue growth | — | — | +83.1% | +18.1% | +7.4% | — |
| Cash + short-term investments | $365M | $476M | $361M | $247M | $471M | — |
| Total debt | — | $673M | $586M | $1.98B | $1.98B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 46.9x · P/S 2.3x · EV/Sales 2.8x · P/FCF 24.7x · P/B 1.6x · FCF yield 4.05% · Earnings yield 2.13% · Dividend yield (paid, TTM) 4.60% · Buyback yield (TTM) 0.00% · Net debt $1.43B · EV $8.45B
P/E at fiscal year-ends: Dec 2025 20.9x, Dec 2024 10.6x, Dec 2023 14.5x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold NE. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.87% | $521M | Added +2.9% |
| Samantha McLemore | Patient Capital Management | 0.12% | $3.7M | Reduced -92.6% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
1 of 7 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-15 | Eifler Robert W. | President & CEO | 50,000 | $2.3M | 4% | Yes (adopted December 12, 2025) | Too little history (no open-market trades in 2024) |
| 2026-05-15 | Hirshberg Al J. | Director | 5,000 | $263K | 13.2% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-12 | Sledge Charles M | Director | 724 | $37K | 2% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-06 | Denton Blake | SVP, Marketing & Contracts | 30,000 | $1.5M | 50.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-05 | Kawaja Joey M | SVP, Operations | 40,000 | $2.0M | 50% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-04-30 | Howard Jennie | SVP, Gen. Counsel & Corp. Sec. | 2,486 | $127K | 13.7% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-28 | Alting Caroline | SVP, Ops. Excellence & Sust | 15,340 | $809K | 65.2% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.58 on a 1–5 scale), 12 analysts; mean target USD 46.5 (low 25, high 59).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-05 | Susquehanna | Target raised | Neutral | $40 → $44 |
| 2026-09-07 | Citigroup | Target raised | Neutral | $45 → $50 |
| 2026-07-30 | Barclays | Target lowered | Overweight | $55 → $53 |
| 2026-07-16 | Barclays | Target lowered | Overweight | $56 → $55 |
| 2026-07-08 | Susquehanna | Target lowered | Neutral | $55 → $40 |
| 2026-06-30 | Citigroup | Target lowered | Neutral | $52 → $45 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +51.3% | +95.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +51.5% | +14.3% |
| Volatility (annualized) | 40.4% | 43.7% |
| Max drawdown | -31.1% (May 2026→Jul 2026) | -63.0% (Aug 2023→Mar 2025) |

## Peers (Oil & Gas Drilling)
RIG (Transocean Ltd (Switzerland)) USD 6.08 +0.66% · VAL (Valaris Limited) USD 92.19 +0.51% · PTEN (Patterson-UTI Energy, Inc.) USD 11.34 -2.91% · HP (Helmerich & Payne, Inc.) USD 37.13 -2.93% · SDRL (Seadrill Limited) USD 49.19 +0.04% · BORR (Borr Drilling Limited) USD 4.08 -3.32%

## More
Full page: https://nexqual.com/NE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Oil and Gas Service | $679.4M | 94.4% | -16.3% |
| — Floaters (part of Oil and Gas Service) | $550.9M | 76.6% | -19.5% |
| — Jackups (part of Oil and Gas Service) | $128.5M | 17.9% | +0.6% |
| Service, Other | $40.2M | 5.6% | +10.0% |
| Total revenue | $719.7M | 100% | — |

## Customer concentration

Period ended 2025-12-31: 19.7%, 13.2%, 12.5% of revenue from unnamed direct customers (10-K, filed 2026-02-12).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.23 | $0.26 | -12.4% | $711.5M | 8 |
| Next quarter (ends 2026-12-31) | $0.00 | $0.19 | -98.8% | $657.2M | 7 |
| Current fiscal year (ends 2026-12-31) | $0.50 | $0.90 | -44.2% | $2.89B | 8 |
| Next fiscal year (ends 2027-12-31) | $1.98 | $2.40 | -17.5% | $3.19B | 9 |