Noble Corporation plc

NYSE:NE Stock Report

Market Cap: US$7.3b

Noble Future Growth

Future criteria checks 3/6

Noble is forecast to grow earnings and revenue by 61% and 8.1% per annum respectively. EPS is expected to grow by 60.5% per annum. Return on equity is forecast to be 10.4% in 3 years.

Key information

61.0%

Earnings growth rate

60.50%

EPS growth rate

Energy Services earnings growth22.7%
Revenue growth rate8.1%
Future return on equity10.40%
Analyst coverage

Good

Last updated04 Sep 2026

Recent future growth updates

Recent updates

Narrative Update • Jul 29

NE: Contract Backlog And Higher Oil Prices Will Drive Future Upside

Analysts have revised their price target on Noble from $49.60 to $48.09, reflecting updated views on the company’s revenue growth, profit margin outlook, and future P/E assumptions. What’s in the News for Noble Noble Corporation reported Q2 2026 results that reflected the impact of operational suspensions on two rigs in Brazil, which weighed on revenue and overall financial performance.
Seeking Alpha • Jul 28

Noble: Upside Is Worth The Rough Waters

Summary Noble Corporation reported disappointing Q2 2026 results, with revenue and EPS missing expectations due to vessel suspensions and contract conclusions. Despite lower guidance for 2026, NE’s backlog remains resilient at $6.8 billion, and average daily rates continue to rise, signaling industry strength. NE trades at attractive single-digit multiples, with leverage at a manageable 1.61x—lower than some peers and not a cause for concern. I maintain a soft ‘buy’ rating, viewing current headwinds as temporary and expecting long-term industry improvements to benefit NE. Read the full article on Seeking Alpha
Narrative Update • Jul 02

NE: Backlog And Market Share Gains Are Expected To Drive Future Upside

Analysts have raised their price target for Noble to $49.60 from $44.30, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E that together indicate a higher estimated fair value for the stock. What’s in the News for Noble Noble Corporation is highlighted in recent coverage for 30.2% annual revenue growth over the past five years and expanding market share in offshore drilling, with commentary pointing to economies of scale and fixed cost leverage relative to smaller competitors (source: Noble Corporation Seen as a Top Stock with Strong Growth and Market Share Gains).
Narrative Update • Jun 18

NE: Refinancing And Stronger Offshore Drilling Demand Will Support Bullish Upside

Analysts have maintained their $59.00 price target on Noble, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E that together support a steady valuation view. What’s in the News for Noble Barclays upgraded Noble Corporation plc to Overweight, citing expectations for stronger offshore drilling demand and referencing a forecast for 9% to 10% growth in upstream spending for 2027 and roughly double digit growth for 2028, along with new floater contracts and extensions that add to Noble’s contract coverage and backlog (source: Barclays upgrade report).
Narrative Update • Jun 04

NE: 2026 Refinancing And Extended Credit Facility Will Support Bullish Upside

Analysts have maintained Noble's $59.00 price target, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E that support a consistent view of the stock's valuation. What's in the News Noble priced an upsized offering of US$800 million in unsecured 6.250% Senior Notes due 2034, increased from a proposed US$500 million.
Narrative Update • May 01

NE: 2026 Revenue Guidance And Completed Buybacks Will Support Bullish Upside

Analysts have raised their price target on Noble to $59.00, citing updated assumptions for higher revenue growth, stronger profit margins, a lower forward P/E multiple and a slightly reduced discount rate. What's in the News Noble maintained full year 2026 revenue guidance in a range of $2,800 million to $3,000 million, indicating no change to its previously communicated outlook (corporate guidance).
Narrative Update • Apr 17

NE: Backlog Expansion And Buybacks Will Support Balanced Future Return Potential

Analysts have raised their price target on Noble from $42.20 to $44.30, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E that feed into their revised valuation analysis. What's in the News Noble issued full year 2026 earnings guidance, with total revenue expected in a range of US$2.8b to US$3.0b (company guidance).
Narrative Update • Apr 02

NE: Future Backlog And Contracts Will Mask Overvaluation Risk

Analysts have lifted their price target for Noble to $42.20 from $40.90. This reflects modest adjustments to fair value, discount rate, revenue growth, profit margin, and future P/E assumptions.
Narrative Update • Mar 19

NE: Expanded Backlog And Buybacks Will Support 2026 Revenue Upside

Analysts have modestly adjusted their price outlook on Noble, linking the updated $53.33 target to small refinements in discount rate assumptions, slightly different expectations for revenue growth and profit margin, and a tweaked future P/E input. What's in the News Noble has completed a share repurchase of 1,048,262 shares, representing 0.66% of its issued share capital, for $29.82 million under the buyback first announced on November 5, 2024 (company disclosure).
Narrative Update • Mar 05

NE: Expanded Rig Backlog And 2026 Revenue Guide Will Drive Future Upside

Analysts have lifted their price target on Noble to $53.33 from $41.25, reflecting updated assumptions that include a slightly lower discount rate, a different mix of revenue growth and profit margin expectations, and a higher future P/E multiple. What's in the News Noble issued full year 2026 guidance with expected total revenue of US$2.8b to US$3.0b, giving investors a sense of the company’s target scale for the year (company guidance).
Narrative Update • Feb 18

NE: Backlog Expansion And Buybacks Will Support A Balanced Outlook

Analysts have raised their price target on Noble from $33.60 to $40.90 as they now apply a slightly lower discount rate, assume higher revenue growth and a modestly higher profit margin, and use a richer future P/E multiple in their models. What's in the News Noble Corporation plc issued earnings guidance for full year 2026, with expected total revenue between US$2.8b and US$3.0b (Key Developments).
Narrative Update • Feb 04

NE: Expanded Backlog And Contract Wins Will Drive Future Upside

Analysts have lifted their price target on Noble to $41.25 from $38.00, citing updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E as the key drivers of the change. What's in the News Noble announced new contract awards for 9 rigs, adding approximately $1.3b of backlog across its fleet (company announcement).
Narrative Update • Jan 21

NE: Future Earnings Power And Completed Buybacks Will Drive Upside

Analysts have trimmed their price target on Noble by a small amount to $38.00. This reflects slightly lower assumptions for revenue growth and profit margins, partly offset by a higher future P/E multiple and a modest adjustment to the discount rate.
Narrative Update • Jan 06

NE: Future Earnings Power And Share Repurchases Will Drive Upside

Analysts have kept their price target for Noble steady at $38.00, citing minor adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions that together leave their valuation view broadly unchanged. What's in the News Noble reported that from July 1, 2025 to September 30, 2025, it repurchased 0 shares for $0 million under the buyback announced on November 5, 2024, while completing a total of 1,048,262 shares repurchased for $29.82 million, equal to 0.66% of the company (Key Developments).
Narrative Update • Dec 15

NE: Future Earnings Power And Index Inclusion Will Drive Upside

Analysts have modestly reduced their price target on Noble to reflect a slightly lower fair value of approximately 38 dollars. This adjustment is offset by expectations for stronger profit margins and a more attractive future earnings multiple.
Narrative Update • Oct 28

Share Buybacks And Index Additions Will Support Ultra-Deepwater Rebound In Key Regions

Noble's Analyst Price Target Sees Significant Increase on Improved Outlook Analysts have raised their price target for Noble from $33.60 to $33.60, citing higher expected revenue growth and stronger profit margin forecasts. This update is supported by recent improvements in financial projections.
Narrative Update • Oct 08

Ultra-deepwater Drilling Will Rebound With Brazilian And West African Pipelines

Analysts have revised Noble's fair value estimate downward from $34.20 to $33.60. This change reflects lower projected revenue growth and profit margins in their updated assessment.
Seeking Alpha • Mar 20

Noble Corporation: Time To Own The Best In Class

Summary Noble Corp's Gen-7 drill ships command high rental rates, boosting stock optimism; a recent merger with Diamond Offshore enhances fleet quality and backlog. Despite recent EPS misses and deferred contracting, Noble offers a solid entry point with a well-covered 8.25% dividend and share buybacks. Noble's strong cash flow and strategic retirements of cold-stacked rigs position it well for future profitability and market recovery. NE is a buy at current prices due to its leading position in Deep Water drilling, undervalued assets, and potential for future growth. Read the full article on Seeking Alpha
Seeking Alpha • Nov 08

Noble Corporation: Production Backlog And Capital Return Promising, Yet Low Visibility On Earnings Past 2025

Summary Noble Corporation's geographic diversification and strong client base are positives, but its lack of long-term contracts and idle rigs are concerning. The company's fluctuating revenues and earnings, coupled with high operating costs for idle rigs, present significant financial risks. Despite the attractive valuation, unpredictable oil prices and delayed contract executions make future earnings uncertain. Third quarter results are uplifting, with stronger cash balances and revenues. I rate Noble Corporation a Hold, noting that investors with specific insights into upcoming contracts may find current valuations appealing. Read the full article on Seeking Alpha
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New Narrative • Aug 29

Operational Efficiency And Critical Acquisitions Set To Propel Revenue Growth And Margin Enhancement

Strategic consolidation through the acquisition of Diamond aims to enhance operational scale and market positioning, supporting future revenue and margin growth.
Seeking Alpha • Aug 21

Noble Corporation: Strong Quarter But Muted Near-Term Outlook - Buy

Summary Noble Corporation reported strong Q2/2024 results with revenue and profitability outperforming consensus expectations. While the company's full-year outlook was largely unchanged, management now expects lower deepwater contracting to extend well into 2025. Subsequent to quarter-end, the company raised $800 million in an upsized senior notes offering in order to cover the cash component of the proposed acquisition of Diamond Offshore Drilling. Following management's cautious market outlook, I have reduced my Adjusted EBITDA estimates for 2025 and 2026. With deepwater investments expected to pick up again in 2026, I remain constructive on Noble Corporation's prospects. Following the recent selloff, the company's shares now offer almost 50% upside to my revised $55 price target. Read the full article on Seeking Alpha
Seeking Alpha • Jul 16

Noble Corporation: The Post Acquisition Outlook

Summary Noble Corporation plc stock has remained range-bound after announcing the acquisition of Diamond Offshore, which should drive $100 million in cost synergies. The acquisition will expand Noble's client base and floater portfolio, with the deal expected to close by YE24. Beneficial owner A.P. Moller Holding A/S bought 300,000 shares, showing confidence in Noble's future. A full investment analysis around Noble Corporation and its post-acquisition future is presented in the paragraphs below. Read the full article on Seeking Alpha
Seeking Alpha • Jun 10

Noble Corporation And Diamond Offshore Drilling: A Sensible Marriage

Summary Noble Corporation is acquiring Diamond Offshore Drilling in a cash and stock transaction worth over $2 billion. The deal is expected to create operating synergies and make Noble Corporation a larger player in the offshore drilling industry. Shareholders of Diamond Offshore Drilling have the opportunity for upside if the deal goes through, with a discount currently offered. Read the full article on Seeking Alpha
Seeking Alpha • Feb 05

Noble Corporation: Quality Backlogs With Room To Grow

Summary Noble Corporation's stock price has experienced volatility due to the impacts of production cuts and oil prices. The company operates as an offshore drilling contractor with operations in the North Sea and partnerships with major players in the industry. The offshore drilling market is expected to grow, and Noble Corporation has a strong backlog and positive earnings outlook. Read the full article on Seeking Alpha
Seeking Alpha • Nov 16

Noble Corporation: Strong Quarter, Raised Guidance, Undemanding Valuation - Buy

Summary Leading offshore driller Noble Corporation reported strong Q3 results with revenues and profitability reaching new multi-year highs. The company raised full-year guidance and increased its quarterly dividend by 33% to $0.40 per share. Cash generation was impacted by higher working capital requirements, and Noble warned of more near-term white space in the company's contracting schedule. Management remained confident in the industry's long-term prospects and expects the upward trajectory in day rates to resume once previously sidelined capacity has been absorbed. While offshore oil and gas service stocks have been volatile as of late, I consider the recent setback an opportunity to start scaling into the shares. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NYSE:NE - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20283,4725635781,0295
12/31/20273,2273713558478
12/31/20262,8881041857898
6/30/20262,885150284882N/A
3/31/20263,017229444954N/A
12/31/20253,107217432952N/A
9/30/20253,284227392901N/A
6/30/20253,290309410907N/A
3/31/20253,139461276798N/A
12/31/20242,91944880655N/A
9/30/20242,646501231807N/A
6/30/20242,553599113662N/A
3/31/20242,499469253766N/A
12/31/20232,462482165574N/A
9/30/20232,438467125458N/A
6/30/20232,057342128393N/A
3/31/20231,71331480270N/A
12/31/20221,333169107281N/A
9/30/2022939157-9137N/A
6/30/2022881100-10257N/A
3/31/202281984-205-18N/A
12/31/2021782352-1636N/A
9/30/2021784-2,594-15415N/A
6/30/2021780-2,62141210N/A
3/31/2021801-2,684104247N/A
12/31/2020909-3,978124273N/A
9/30/20201,156-1,189296455N/A
6/30/20201,188-1,58357243N/A
3/31/20201,243-1,692N/A227N/A
12/31/20191,246-697N/A187N/A
9/30/20191,144-498N/A97N/A
6/30/20191,105-334N/A110N/A
3/31/20191,077-810N/A76N/A
12/31/20181,036-885N/A172N/A
9/30/20181,065-877N/A161N/A
6/30/20181,058-892N/A216N/A
3/31/20181,081-356N/A330N/A
12/31/20171,207-515N/A417N/A
9/30/20171,287-1,780N/A465N/A
6/30/20171,400-1,739N/A521N/A
3/31/20172,005-1,333N/A1,096N/A
12/31/20162,242-930N/A1,143N/A
9/30/20162,678212N/A1,470N/A
6/30/20163,179585N/A1,854N/A
3/31/20163,074427N/A1,566N/A
12/31/20153,262500N/A1,765N/A
9/30/20153,21264N/A1,642N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: NE's forecast earnings growth (61% per year) is above the savings rate (3.7%).

Earnings vs Market: NE's earnings (61% per year) are forecast to grow faster than the US market (17.3% per year).

High Growth Earnings: NE's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: NE's revenue (8.1% per year) is forecast to grow slower than the US market (13.4% per year).

High Growth Revenue: NE's revenue (8.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: NE's Return on Equity is forecast to be low in 3 years time (10.4%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/09 21:28
End of Day Share Price 2026/09/09 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Noble Corporation plc is covered by 46 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
null nullArgus Research Company
James WestBarclays