NENoble Corporation plc
Is the business good?
The checks split: earnings fully cash-backed (3.3×), but margins compressing.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
A balanced mix of margins, efficiency, and leverage. ROE 5% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is NE?
Noble Corporation plc earns 4.7% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 4.3 points below what the capital costs: growth destroys value
- Operating margin
- 11%
Operating margin · Oil & Gas Drilling median 5.0% · 12 months to Q2 2026
- Cash conversion
- 3.34×
Cash conversion · 2.25× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −1.2%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | −423% |
| FY2022 | 16% |
| FY2023 | 22% |
| FY2024 | 20% |
| FY2025 | 13% |
Details›
- Operating margin12 months to Q2 2026
- 11%
- Net margin12 months to Q2 2026
- 4.9%
- Free cash flow margin
- 9.3%
- Revenue, trailing twelve months
- $3.07B
- Free cash flow, trailing twelve months
- $284M
- Net income, trailing twelve months
- $150M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 4.7%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.