NOBLE CORP Reports 132.1% Y-o-Y Increase in Q2 FY2023 Revenue at USD 638.5 Million

August 26, 2023

☀️Earnings Overview

NOBLE CORP ($NYSE:NE) reported their second quarter FY2023 earnings on June 30 2023, resulting in total revenue of USD 638.5 million, up 132.1% compared to the same period last year. Net income was USD 65.8 million, a rise of 77.6%.

Analysis

GoodWhale has conducted an analysis of NOBLE CORP’s welfare. The company is classified as a ‘cheetah’, which is a type of company that has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. Investors who would be interested in such a company are those who are willing to take on more risk in exchange for potentially higher returns. Noble Corp has a high health score of 10/10 with regard to its cashflows and debt, indicating that it is capable of paying off debt and funding future operations. Additionally, Noble Corp is strong in terms of growth, medium in asset, profitability, and weak in dividend. Therefore, investors who are looking to gain from the potential growth of the company and are willing to take on the risk of lower stability may be interested in NOBLE CORP. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis
  • About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Noble Corp. More…

    Total Revenues Net Income Net Margin
    2.18k 342.43 18.7%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Noble Corp. More…

    Operations Investing Financing
    392.77 270.01 -565.56
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Noble Corp. More…

    Total Assets Total Liabilities Book Value Per Share
    5.2k 1.48k 27.13
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Noble Corp are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    18.8%
    FCF Margin ROE ROA
    5.9% 6.9% 4.9%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items




  • Peers

    Noble Corp is an international drilling contractor for the oil and gas industry, providing operations in the United States, Canada, Europe, Africa, the Middle East and the Far East. The company competes with other drilling contractors such as Cathedral Energy Services Ltd, Awilco Drilling PLC, and PHX Energy Services Corp, to offer services ranging from drilling and production to well site services and engineering. Noble Corp strives to remain at the forefront of drilling technology by investing in safety and environmental initiatives, ensuring the highest standards of operational performance.

    – Cathedral Energy Services Ltd ($TSX:CET)

    Cathedral Energy Services Ltd is a publicly-traded oil and gas services company providing specialized services to the energy industry in North America. The company has a current market capitalization of 289.78 million dollars, indicating that it has a large market presence. The company has also achieved a Return on Equity of 5.11%, which is above the industry average, indicating that it is managing its resources efficiently and generating strong returns for shareholders.

    – Awilco Drilling PLC ($OTCPK:AWLCF)

    Awilco Drilling PLC is an offshore drilling contractor that provides services to the oil and gas industry. The company has a market cap of 44.69M as of 2023 and a Return on Equity of -2683.9%, which indicates that the company has been performing poorly in terms of profitability. The company’s market cap is relatively small compared to other drilling contractors, and its negative ROE suggests that investors may be wary of investing in the company. Nevertheless, the company is still committed to providing quality services and has been able to maintain a competitive position in the industry.

    – PHX Energy Services Corp ($TSX:PHX)

    PHX Energy Services Corp is an oilfield services company with operations primarily in Canada and the United States. The company provides services such as directional drilling, pressure and performance testing, production testing and completion, and other related services. As of 2023, PHX Energy Services Corp has a market cap of 413.57M and a Return on Equity of 16.69%, indicating that the company is performing well financially. The company’s strong financial performance is largely due to its ability to capitalize on the current market conditions in both Canada and the United States to optimize its business operations.

    Summary

    NOBLE CORP‘s second quarter financial results for FY2023 paint a strong picture for investors. Total revenue increased by 132.1%, with net income growing by 77.6%, over the same period last year. This suggests that the company has good potential for future growth as well as strong returns on investments.

    In addition, NOBLE CORP appears to be well placed to capitalize on any potential opportunities that may arise on the market. With a positive outlook, NOBLE CORP is an attractive option for investors looking for long term returns.

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