Noble Corp Financials
This page shows Noble Corp (NE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Stronger cash collection is masking a sharper profit squeeze as higher leverage leaves more revenue absorbed by financing costs.
From FY2023 to FY2025, revenue kept climbing but operating margin fell from22.2% to12.7% , showing added volume carried much less profit per sales dollar. At the same time, interest expense rose from$59.1M to$162.4M , so the earnings drop reflects a costlier operating-and-financing structure rather than a top-line stall.
FY2025 operating cash flow reached
The balance sheet is still liquid in the near term with a current ratio of 1.7x and cash of
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Noble Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Noble Corp scores 2.06, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($6.5B) relative to total liabilities ($3.0B). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Noble Corp passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Noble Corp generates $4.39 in operating cash flow ($951.7M OCF vs $216.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Noble Corp earns $2.6 in operating income for every $1 of interest expense ($415.6M vs $162.4M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Noble Corp generated $3.3B in revenue in fiscal year 2025. This represents an increase of 7.4% from the prior year.
Noble Corp reported $216.7M in net income in fiscal year 2025. This represents a decrease of 51.7% from the prior year.
Noble Corp earned $1.35 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 54.4% from the prior year.
Cash & Balance Sheet
Noble Corp held $471.4M in cash against $2.0B in long-term debt as of fiscal year 2025.
Noble Corp paid $2.00 per share in dividends in fiscal year 2025. This represents an increase of 11.1% from the prior year.
Noble Corp had 159M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Margins & Returns
Noble Corp's operating margin was 12.7% in fiscal year 2025, reflecting core business profitability. This is down 7.1 percentage points from the prior year.
Noble Corp's net profit margin was 6.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 8.1 percentage points from the prior year.
Noble Corp's ROE was 4.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.9 percentage points from the prior year.
Capital Allocation
Noble Corp spent $20.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 93.3% from the prior year.
NE Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $785.7M+2.8% | $764.4M-4.2% | $798.0M-6.0% | $848.7M-3.0% | $874.5M-5.7% | $927.3M+15.8% | $800.5M+15.5% | $692.8M |
| Cost of Revenue | $450.1M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $292.4M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $30.0M+1.3% | $29.7M-10.9% | $33.3M-4.8% | $35.0M-0.7% | $35.2M+12.6% | $31.3M-28.3% | $43.6M+9.9% | $39.7M |
| Operating Income | $225.3M+429.4% | $42.6M-15.6% | $50.4M-62.7% | $135.3M-27.8% | $187.3M+9.6% | $171.0M+48.1% | $115.5M-45.0% | $210.0M |
| Interest Expense | $40.6M-2.1% | $41.4M+2.4% | $40.5M+1.2% | $40.0M-1.2% | $40.5M+1.9% | $39.7M+59.2% | $25.0M+108.0% | $12.0M |
| Income Tax | $72.9M+200.1% | -$72.8M-329.6% | $31.7M-44.4% | $57.1M+41.3% | $40.4M+45.3% | $27.8M-12.0% | $31.6M+704.6% | -$5.2M |
| Net Income | $120.7M+39.3% | $86.6M+510.7% | -$21.1M-149.2% | $42.9M-60.4% | $108.3M+12.1% | $96.6M+57.9% | $61.2M-68.6% | $195.0M |
| EPS (Diluted) | $0.75 | N/A | $-0.13-148.1% | $0.27-59.7% | $0.67 | N/A | $0.40-70.1% | $1.34 |
NE Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.5B-0.7% | $7.5B-1.4% | $7.6B-0.4% | $7.7B-3.1% | $7.9B-0.7% | $8.0B-0.9% | $8.0B+43.8% | $5.6B |
| Current Assets | $1.4B+12.8% | $1.3B-6.8% | $1.4B+5.8% | $1.3B-10.7% | $1.4B+3.9% | $1.4B-1.5% | $1.4B+42.9% | $986.9M |
| Cash & Equivalents | $662.6M+40.6% | $471.4M-1.4% | $477.9M+41.3% | $338.2M+11.3% | $303.8M+22.8% | $247.3M-36.9% | $391.9M+140.6% | $162.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $595.9M+1.1% | $589.6M-13.1% | $678.3M-11.0% | $761.7M+0.7% | $756.3M-5.1% | $797.0M+5.9% | $752.3M+18.1% | $637.0M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $2.9B-3.0% | $3.0B-4.0% | $3.1B+2.2% | $3.0B-6.6% | $3.3B-1.9% | $3.3B-1.1% | $3.4B+109.1% | $1.6B |
| Current Liabilities | $719.4M-5.3% | $759.7M-2.5% | $779.3M+8.8% | $716.0M-22.2% | $920.0M-2.2% | $940.4M+4.4% | $900.5M+41.4% | $637.0M |
| Long-Term Debt | $1.9B-3.0% | $2.0B-0.1% | $2.0B-0.1% | $2.0B0.0% | $2.0B-0.1% | $2.0B-0.1% | $2.0B+218.5% | $622.1M |
| Total Equity | $4.6B+0.9% | $4.5B+0.3% | $4.5B-2.0% | $4.6B-0.6% | $4.7B+0.1% | $4.7B-0.7% | $4.7B+17.6% | $4.0B |
| Retained Earnings | $324.8M+13.3% | $286.6M+2.3% | $280.1M-26.6% | $381.5M-9.1% | $419.6M+2.0% | $411.2M-7.6% | $445.1M-30.9% | $643.9M |
NE Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $273.3M+46.0% | $187.1M-32.5% | $277.1M+28.1% | $216.4M-20.2% | $271.1M+99.0% | $136.2M-52.0% | $283.8M+165.7% | $106.8M |
| Capital Expenditures | $73.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | $200.3M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | $102.5M+196.4% | -$106.4M-104.8% | -$52.0M+44.5% | -$93.6M+4.7% | -$98.1M+32.4% | -$145.2M+71.7% | -$514.0M-285.9% | -$133.2M |
| Financing Cash Flow | -$189.2M-121.8% | -$85.3M+1.0% | -$86.1M-0.1% | -$86.1M+26.1% | -$116.5M+19.0% | -$143.8M-130.8% | $466.8M+2213.9% | -$22.1M |
| Dividends Paid | $83.7M+4.7% | $79.9M+0.5% | $79.5M0.0% | $79.5M-2.3% | $81.4M+2.2% | $79.7M-2.3% | $81.6M-37.2% | $129.9M |
| Share Buybacks | $0 | $0 | $0 | $0-100.0% | $20.0M-60.0% | $50.0M-80.0% | $250.0M | $0 |
NE Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.4% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 28.7%+23.1pp | 5.6%-0.8pp | 6.3%-9.6pp | 15.9%-5.5pp | 21.4%+3.0pp | 18.4%+4.0pp | 14.4%-15.9pp | 30.3% |
| Net Margin | 15.4%+4.0pp | 11.3%+14.0pp | -2.6%-7.7pp | 5.1%-7.3pp | 12.4%+2.0pp | 10.4%+2.8pp | 7.6%-20.5pp | 28.1% |
| Return on Equity | 2.6%+0.7pp | 1.9%+2.4pp | -0.5%-1.4pp | 0.9%-1.4pp | 2.3%+0.3pp | 2.1%+0.8pp | 1.3%-3.6pp | 4.9% |
| Return on Assets | 1.6%+0.5pp | 1.1%+1.4pp | -0.3%-0.8pp | 0.6%-0.8pp | 1.4%+0.2pp | 1.2%+0.4pp | 0.8%-2.7pp | 3.5% |
| Current Ratio | 1.99+0.3 | 1.67-0.1 | 1.75-0.0 | 1.80+0.2 | 1.57+0.1 | 1.48-0.1 | 1.57+0.0 | 1.55 |
| Debt-to-Equity | 0.42-0.0 | 0.430.0 | 0.440.0 | 0.430.0 | 0.420.0 | 0.430.0 | 0.42+0.3 | 0.16 |
| FCF Margin | 27.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Noble Corp's annual revenue?
Noble Corp (NE) reported $3.3B in total revenue for fiscal year 2025. This represents a 7.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Noble Corp's revenue growing?
Noble Corp (NE) revenue grew by 7.4% year-over-year, from $3.1B to $3.3B in fiscal year 2025.
Is Noble Corp profitable?
Yes, Noble Corp (NE) reported a net income of $216.7M in fiscal year 2025, with a net profit margin of 6.6%.
How much debt does Noble Corp have?
As of fiscal year 2025, Noble Corp (NE) had $471.4M in cash and equivalents against $2.0B in long-term debt.
What is Noble Corp's operating margin?
Noble Corp (NE) had an operating margin of 12.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Noble Corp's net profit margin?
Noble Corp (NE) had a net profit margin of 6.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Noble Corp pay dividends?
Yes, Noble Corp (NE) paid $2.00 per share in dividends during fiscal year 2025.
What is Noble Corp's return on equity (ROE)?
Noble Corp (NE) has a return on equity of 4.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Noble Corp's operating cash flow?
Noble Corp (NE) generated $951.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Noble Corp's total assets?
Noble Corp (NE) had $7.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Noble Corp's current ratio?
Noble Corp (NE) had a current ratio of 1.67 as of fiscal year 2025, which is generally considered healthy.
What is Noble Corp's debt-to-equity ratio?
Noble Corp (NE) had a debt-to-equity ratio of 0.43 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Noble Corp's return on assets (ROA)?
Noble Corp (NE) had a return on assets of 2.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Noble Corp's Altman Z-Score?
Noble Corp (NE) has an Altman Z-Score of 2.06, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Noble Corp's Piotroski F-Score?
Noble Corp (NE) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Noble Corp's earnings high quality?
Noble Corp (NE) has an earnings quality ratio of 4.39x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Noble Corp cover its interest payments?
Noble Corp (NE) has an interest coverage ratio of 2.6x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Noble Corp?
Noble Corp (NE) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.