Noble Corporation plc

NYSE:NE Stock Report

Market Cap: US$5.4b

Noble Valuation

Is NE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NE ($34.38) is trading below our estimate of fair value ($103.84)

Significantly Below Fair Value: NE is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NE?

Key metric: As NE is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NE. This is calculated by dividing NE's market cap by their current earnings.
What is NE's PE Ratio?
PE Ratio11x
EarningsUS$501.41m
Market CapUS$5.36b

Price to Earnings Ratio vs Peers

How does NE's PE Ratio compare to its peers?

The above table shows the PE ratio for NE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average5.5x
HP Helmerich & Payne
9.8x-0.2%US$3.3b
VAL Valaris
3.1x-8.7%US$3.3b
SDRL Seadrill
6.4x-3.6%US$2.6b
PKDC Parker Drilling
2.9xn/aUS$361.2m
NE Noble
11x19.9%US$5.4b

Price-To-Earnings vs Peers: NE is expensive based on its Price-To-Earnings Ratio (11x) compared to the peer average (5.6x).

Price to Earnings Ratio vs Industry

How does NE's PE Ratio compare vs other companies in the US Energy Services Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NCSM NCS Multistage Holdings
1.4x-107.5%US$60.82m
BASX.Q Basic Energy Services
n/an/aUS$24.00
No more companies available in this PE range
NE 11.0xIndustry Avg. 16.6xNo. of Companies6PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NE is good value based on its Price-To-Earnings Ratio (11x) compared to the US Energy Services industry average (16.6x).

Price to Earnings Ratio vs Fair Ratio

What is NE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11x
Fair PE Ratio14.3x

Price-To-Earnings vs Fair Ratio: NE is good value based on its Price-To-Earnings Ratio (11x) compared to the estimated Fair Price-To-Earnings Ratio (14.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$34.38
US$45.90
+33.5%
15.3%US$64.00US$38.00n/a10
Nov ’25US$31.11
US$48.90
+57.2%
18.6%US$67.00US$39.00n/a10
Oct ’25US$36.42
US$54.55
+49.8%
14.2%US$67.00US$39.00n/a11
Sep ’25US$38.15
US$57.91
+51.8%
8.8%US$67.00US$47.00n/a11
Aug ’25US$44.62
US$58.55
+31.2%
8.8%US$67.00US$47.00n/a11
Jul ’25US$43.19
US$58.73
+36.0%
8.1%US$67.00US$49.00n/a11
Jun ’25US$46.46
US$59.64
+28.4%
7.5%US$67.00US$49.00n/a11
May ’25US$43.65
US$60.12
+37.7%
6.4%US$65.00US$51.00n/a12
Apr ’25US$47.77
US$59.55
+24.7%
9.5%US$65.00US$44.00n/a11
Mar ’25US$43.36
US$59.73
+37.7%
9.5%US$65.00US$44.00n/a11
Feb ’25US$43.64
US$60.73
+39.2%
6.5%US$65.00US$52.00n/a11
Jan ’25US$48.16
US$61.18
+27.0%
7.6%US$70.00US$52.00n/a11
Dec ’24US$46.70
US$61.70
+32.1%
7.4%US$70.00US$52.00n/a10
Nov ’24US$49.07
US$62.38
+27.1%
7.0%US$72.00US$58.00US$31.118
Oct ’24US$50.65
US$62.00
+22.4%
6.9%US$72.00US$58.00US$36.428
Sep ’24US$53.78
US$61.13
+13.7%
8.8%US$72.00US$52.00US$38.158
Aug ’24US$51.95
US$55.88
+7.6%
8.3%US$64.00US$50.00US$44.628
Jul ’24US$41.31
US$54.71
+32.4%
6.8%US$60.00US$50.00US$43.197
Jun ’24US$40.13
US$54.71
+36.3%
6.8%US$60.00US$50.00US$46.467
May ’24US$38.27
US$53.67
+40.2%
6.3%US$60.00US$50.00US$43.656
Apr ’24US$39.47
US$53.67
+36.0%
6.3%US$60.00US$50.00US$47.776
Mar ’24US$43.47
US$54.00
+24.2%
6.9%US$60.00US$50.00US$43.367
Feb ’24US$40.35
US$52.17
+29.3%
8.3%US$60.00US$48.00US$43.646
Jan ’24US$37.71
US$52.40
+39.0%
9.1%US$60.00US$48.00US$48.165
Dec ’23US$37.32
US$52.40
+40.4%
9.1%US$60.00US$48.00US$46.705
Nov ’23US$34.96
US$51.60
+47.6%
10.7%US$60.00US$45.00US$49.075

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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