Noble Corp (Cayman Island)
NYSE:NE

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Noble Corp (Cayman Island) Logo
Noble Corp (Cayman Island)
NYSE:NE
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Price: 35.41 USD 2.05% Market Closed
Market Cap: 5.7B USD
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Intrinsic Value

The intrinsic value of one NE stock under the Base Case scenario is 84.92 USD. Compared to the current market price of 35.41 USD, Noble Corp (Cayman Island) is Undervalued by 58%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

NE Intrinsic Value
84.92 USD
Undervaluation 58%
Intrinsic Value
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Noble Corp (Cayman Island)

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Noble Corp (Cayman Island)

Current Assets 1.4B
Cash & Short-Term Investments 391.9m
Receivables 851.2m
Other Current Assets 167.6m
Non-Current Assets 6.6B
PP&E 6.2B
Intangibles 1.6m
Other Non-Current Assets 445.4m
Current Liabilities 900.5m
Accounts Payable 405.9m
Accrued Liabilities 211.8m
Other Current Liabilities 282.8m
Non-Current Liabilities 2.4B
Long-Term Debt 2B
Other Non-Current Liabilities 452.9m
Efficiency

Earnings Waterfall
Noble Corp (Cayman Island)

Revenue
2.8B USD
Cost of Revenue
-1.6B USD
Gross Profit
1.1B USD
Operating Expenses
-512.5m USD
Operating Income
633.9m USD
Other Expenses
-132.5m USD
Net Income
501.4m USD

Free Cash Flow Analysis
Noble Corp (Cayman Island)

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

In the third quarter, Noble Corporation reported revenue of $764 million, a rise from $661 million in Q2, while adjusted EBITDA increased to $291 million. The company’s cash flow from operations was $284 million, with free cash flow of $165 million, reflecting four weeks of the Diamond acquisition's contribution. For Q4, Noble anticipates revenues between $850 million to $890 million and adjusted EBITDA of $275 million to $305 million. Looking ahead, the company is optimistic about increased contracting opportunities, projecting significant growth in free cash flow for 2025, supported by lower capital expenditures aimed at maximizing shareholder returns.

What is Earnings Call?
Fundamental Scores

NE Profitability Score
Profitability Due Diligence

Noble Corp (Cayman Island)'s profitability score is 54/100. The higher the profitability score, the more profitable the company is.

Exceptional 3-Years Revenue Growth
ROE is Increasing
Positive Gross Profit
ROIC is Increasing
54/100
Profitability
Score

Noble Corp (Cayman Island)'s profitability score is 54/100. The higher the profitability score, the more profitable the company is.

NE Solvency Score
Solvency Due Diligence

Noble Corp (Cayman Island)'s solvency score is 51/100. The higher the solvency score, the more solvent the company is.

Low D/E
Long-Term Solvency
Short-Term Solvency
Low Altman Z-Score
51/100
Solvency
Score

Noble Corp (Cayman Island)'s solvency score is 51/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

NE Price Targets Summary
Noble Corp (Cayman Island)

Wall Street analysts forecast NE stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for NE is 49.98 USD with a low forecast of 38.38 USD and a high forecast of 67.2 USD.

Lowest
Price Target
38.38 USD
8% Upside
Average
Price Target
49.98 USD
41% Upside
Highest
Price Target
67.2 USD
90% Upside
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Dividends

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Dividend Per Share
N/A
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Growth 10Y
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Safe
0
25
50
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100
Shareholder Yield

Current shareholder yield for NE is .

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Shareholder Yield
Dividend Yield
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Buyback Yield
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Debt Paydown Yield
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Noble Corp (Cayman Island) Logo
Noble Corp (Cayman Island)

Country

United States of America

Industry

N/A

Market Cap

5.7B USD

Dividend Yield

4.8%

Description

Noble Corp. is an offshore drilling contractor for the oil and gas industry. The company is headquartered in Sugar Land, Texas and currently employs 1,800 full-time employees. The company went IPO on 2021-06-03. The Company, through its subsidiaries, provides contract drilling services with a fleet of approximately 20 mobile offshore drilling units, consisting of 12 floaters and eight jack-up rigs focused on deep-water and jack-up drilling opportunities in both established and emerging regions worldwide. The mobile offshore drilling units, comprising its offshore rig fleet, operate in a global market for contract drilling services and are redeployed to different regions due to changing demands of its customers. The firm's customers consist primarily of integrated, independent and government-owned or controlled oil and gas companies throughout the world. The company employs each drilling unit under an individual contract, and contracts are awarded based upon a competitive bidding process.

Contact

TEXAS
Sugar Land
13135 Dairy Ashford, Suite 800
+12812766100.0
www.noblecorp.com

IPO

2021-06-03

Employees

1 800

Officers

President, CEO & Director
Mr. Robert W. Eifler
Executive VP & CFO
Mr. Richard B. Barker
Senior Vice President of Operations
Mr. Joey M. Kawaja
Senior Vice President of Marketing & Contracts
Mr. Blake A. Denton
Senior Vice President of Operational Excellence & Sustainability
Ms. Caroline M. Alting
VP, Chief Accounting Officer & Controller
Ms. Jennifer Yeung
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VP & GM of Administration
Tom Madden
Vice President of Investor Relations
Mr. Ian MacPherson
Senior VP, General Counsel & Corporate Secretary
Ms. Jennie P. Howard
Vice President of Communication & Sustainability
Ms. Tine Ostergaard Hansen
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See Also

Discover More
What is the Intrinsic Value of one NE stock?

The intrinsic value of one NE stock under the Base Case scenario is 84.92 USD.

Is NE stock undervalued or overvalued?

Compared to the current market price of 35.41 USD, Noble Corp (Cayman Island) is Undervalued by 58%.

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