Noble Corporation Plc (NE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+420.9%

$239.87

vs $46.05 price

Levered DCF

$31.29

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.3

Grey zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	20.76×	10.43×	13.84×	42.85×	13.48×	-1.56×	-8.81×	-6.89×
P/B	0.99×	1×	1.7×	2×	3.17×	-19.93×	1.68×	1.44×
P/S	1.37×	1.53×	2.57×	5.11×	5.6×	6.44×	4.72×	5.64×
EV / EBITDA	5.92×	6.81×	9.03×	19.74×	9.62×	25.72×	20.31×	28.04×
Gross margin	19.7%	27.4%	28.7%	21.6%	-0.9%	-2.6%	9.0%	-6.5%
Operating margin	15.7%	22.8%	23.8%	15.8%	-8.9%	-15.2%	3.7%	-13.3%
Net margin	6.6%	14.7%	18.6%	11.9%	41.5%	-412.6%	-53.7%	-81.7%
Current ratio	1.67×	1.48×	1.65×	1.58×	1.83×	2.76×	0.82×	1.8×
Debt / equity	0.43×	0.45×	0.16×	0.19×	0.16×	-0.02×	1.06×	0.91×
Interest coverage	3.17×	7.39×	10.4×	5.23×	-2.36×	-0.89×	0.17×	-0.48×
Dividend yield	7.1%	5.9%	1.5%	0.0%	0.0%	0.0%	0.4%	0.5%
Payout ratio	147.8%	62.0%	20.5%	0.0%	0.0%	0.0%	-3.6%	-3.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.8%	9.6%	12.3%	4.7%	23.5%	1277.7%	-19.1%	-20.8%
Return on invested capital	6.0%	9.0%	11.9%	4.2%	-4.1%	-3.4%	0.6%	-1.5%
Return on assets	2.9%	5.6%	8.8%	3.2%	17.0%	-93.3%	-8.5%	-9.6%
Free cash flow yield	9.6%	1.7%	2.5%	1.5%	-3.4%	2.0%	-1.3%	-0.4%
Earnings yield	4.8%	9.6%	7.2%	2.3%	7.4%	-64.1%	-11.4%	-14.5%
Enterprise value	$6B	$6.5B	$6.9B	$7.4B	$4.8B	$5.8B	$9.9B	$9.6B
Net debt / EBITDA	1.49×	1.92×	0.33×	0.52×	0.08×	-1.57×	7.71×	10.22×
Cash conversion cycle (days)	33	40	5	34	44	37	45	28