Noble Corporation (NE)
NYSEEnergyOil & Gas DrillingSnapshot 2026-09-04
$45.61-2.10%
Close 2026-09-04 · 1-day change
NYSEEnergyOil & Gas DrillingSnapshot 2026-09-04
QuarterlyIQ Insights · NE
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within energy on a research-validated quality screen. As of 2026-09-04.
The screen ranks NE against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 3 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Energy names rated weak grew net income 60% of the time over the next year (vs 55% for the rest of the cohort, n=1735).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Focus on securing new contracts to increase backlog and improve utilization rates across the fleet, including high-spec drillships and jackups.
Stated as a priority in 4 of last 4 quarters. Backlog was $7.5 billion in 2026-Q1 and decreased to $6.8 billion in 2026-Q2; utilization of marketed rigs was 68% in 2026-Q1 and declined to 64% in 2026-Q2. Management continues to emphasize backlog growth and utilization, but recent data shows a slight decline in backlog and utilization, indicating mixed delivery.
“Approximately $200 million in new contract value since April fleet status report, backlog stands at $6.8 billion.”
“Approximately $565 million in new contract value since January fleet status report, backlog stands at $7.5 billion.”
“Approximately $1.3 billion in new contract awards since October fleet status report, backlog increased to $7.5 billion.”
“Maintain and grow contract backlog and fleet utilization.”
Manage capital structure through debt refinancing, issuance of senior notes, and maintaining shareholder returns via dividends and potential buybacks.
Stated as a priority in 3 of last 4 quarters. The company refinanced $800 million of debt in 2026-Q2 and maintained a consistent $0.50 per share quarterly dividend through Q1 to Q3 2026. Share repurchases totaled $20 million in 2025. Management is delivering on capital allocation through refinancing and dividends, with no recent buybacks reported.
Provide and update full year 2026 guidance for revenue, adjusted EBITDA, and capital expenditures reflecting market conditions and operational changes.
Stated as a priority in 3 of last 3 quarters. Full year 2026 revenue guidance was maintained at $2.8-$3.0 billion in 2026-Q1 but reduced to $2.8-$2.9 billion in 2026-Q2; adjusted EBITDA guidance was reduced from $940-$1,020 million to $850-$925 million in 2026-Q2; capital expenditures guidance remained steady at $615-$665 million. Management has adjusted guidance downward in Q2 reflecting operational challenges, indicating mixed delivery.
Over the trailing year it converted -0.21x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, long-term interest rates, real (inflation-adjusted) rates, Fed net liquidity (low R² over the window).
7 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Energy names rated neutral grew net income 58% of the time over the next year (vs 56% for the rest of the cohort, n=807).
Not investment advice. As of 2026-09-04.
“Completed refinancing of legacy Diamond notes, unlocking $35 million in annual cash benefits; $0.50 per share dividend declared for Q3.”
“Redeemed $55 million principal of senior secured notes; $0.50 per share dividend declared for Q2.”
“Share repurchases totaled $20 million in 2025; $0.50 per share dividend declared for Q1 2026.”
“Full year 2026 guidance for revenue and adjusted EBITDA reduced; capital expenditures guidance maintained.”
“Full year 2026 guidance for revenue and adjusted EBITDA maintained; capital expenditures guidance increased.”
“Full year 2026 guidance provided: Revenue $2.8-$3.0 billion, Adjusted EBITDA $940-$1,020 million, Capital Expenditures $590-$640 million.”