Noble Plc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Noble Plc (NE) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Noble Plc vs Its Competitors
- TTM: Trailing 12-month revenue of 2,999M vs 136,847M combined for its competitors (2.1% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-2.8% annualized vs trailing 12 months), vs accelerating (+4.1%) for its tracked peer group.
- Growth: Noble Plc generated -8.7% revenue growth year over year in Q3 2026, vs 6.1% for its competitors combined.
- Profitability: Its -16.1% net margin compares with 6.7% for the peer group.
- Scale: Noble Plc ranks #1 of 15 companies by market capitalization in the Oil Well Services & Equipment industry, holding 17.8% of industry market cap.
- Peer revenue share: Noble Plc accounted for 2.0% of combined revenue among its tracked peer group, down from 2.3% a year earlier.
- Peer differentiation: Revenue per employee of $0.67M compares with $0.43M for the peer group (1.6x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
NE Sales vs. its Competitors, Q3 2026
Noble Plc reported revenue contraction of 8.68 % year on year in Q3 2026, below its competitors' combined revenue growth of 6.12 %.
With a net margin of -16.06 %, Noble Plc reported lower profitability than its competitors (6.74 %).
Noble Plc generated 2.00 % of the combined sales of its peer group, down from 2.32 % a year earlier.
API endpoints for this dataset
Noble Plc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Noble Plc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Noble Plc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Noble Corporation Plc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (2) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (2) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Noble Plc's competitor groups requires a Commercial License.
For context: the Oil Well Services & Equipment industry grew revenue -5.0% year over year, combined, vs -8.7% for Noble Plc. Noble Plc's share of combined industry revenue moved from 4.03% to 3.87%, a loss of 0.16 percentage points.
Noble Plc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Noble Corporation Plc | Yes | No | No | No |
| Competitors combined (20) | ||||
| High-Confidence Competitors (1) | - | - | - | |
| Similar-Size Competitors (5) | ||||
| Similar Growth & Profitability (8) | 75.00 % (6 of 8) | 25.00 % (2 of 8) | 50.00 % (4 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
NE Stock Performance relative to its Competitors
NE Stock Performance relative to High-Confidence Competitors
NE Stock Performance relative to Similar-Size Competitors
NE Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Matson inc | 282.9% | Outperformed |
| 2 | Patterson uti Energy Inc | 282.9% | Outperformed |
| 3 | Valaris Limited | 282.9% | Outperformed |
| 4 | Oceaneering International Inc | 282.9% | Outperformed |
| 5 | Nabors Industries Ltd | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Noble Plc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Noble Plc's Comment on Competition and Industry Peers
The offshore contract drilling industry is a highly competitive and cyclical
business characterized by high capital and maintenance costs. We compete with
other providers of offshore drilling rigs. Some of our competitors may have
access to greater financial resources than we do.
In the provision of contract drilling services, competition involves numerous
factors, including price, rig availability and suitability, experience of the
workforce, efficiency, safety performance record, condition and age of equipment,
operating integrity, reputation, industry standing and client relations. We
believe that we compete favorably with respect to all of these factors. We follow
a policy of keeping our equipment well maintained and technologically competitive.
However, our equipment could be made obsolete by the development of new techniques
and equipment, regulations or customer preferences.
We compete on a worldwide basis, but competition may vary by region at any
particular time. Demand for offshore drilling equipment also depends on the
exploration and development programs of oil and gas producers, which in turn
are influenced by the financial condition of such producers, by general economic
conditions, prices of oil and gas and by political considerations and policies.
In addition, industry-wide shortages of supplies, services, skilled personnel and equipment necessary to conduct our business have historically occurred. We cannot assure that any such shortages experienced in the past will not happen again in the future.
Publicly Traded Peers of Noble Corporation Plc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Noble Corporation Plc |
6,524.81 | 2,998.55 |
 Slb Limited |
74,730.24 | 36,886.00 |
 Dover Corp |
27,494.88 | 8,576.81 |
 Halliburton Company |
26,490.88 | 22,476.00 |
 Loews Corp |
22,443.37 | 18,782.00 |
 Lineage Inc |
8,921.64 | 5,386.00 |
| SUBTOTAL | 207,052.05 | 160,783.42 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Noble Corporation Plc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Noble Plc's Competitors Named by the Company
Competitive relationships identified from Noble Plc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| American Drive Acquisition Co | Company report | 85% |
| Vantage Drilling International | Company report | 85% |
| Transocean ltd | Company report | 85% |
| Helmerich and Payne inc | Company report | 85% |
| Valaris Limited | Company report | 85% |
| Oil States International Inc | Company report | 85% |
| Diamond Offshore Drilling Inc | Company report | 85% |
| Nabors Industries Ltd | Company report | 85% |
| Patterson uti Energy Inc | Company report | 85% |
| Nov Inc | Company report | 85% |
| Vantage Drilling International | Company report | 85% |
| Slb Limited | Company report | 85% |
| Halliburton Company | Company report | 85% |
| Seadrill Limited | Company report | 85% |
| Oceaneering International Inc | Company report | 85% |
| Loews Corp | Company report | 85% |
| Sable Offshore Corp | Company report | 85% |
| Superior Drilling Products Inc | Company report | 85% |
| Dawson Geophysical Company | Company report | 85% |
| Independence Contract Drilling inc | Company report | 85% |
| Lineage Inc | Company report | 85% |
| Basic Energy Services Inc | Company report | 85% |
| Borr Drilling Limited | Company report | 85% |
Company report basis, confidence, active dates and source counts for Noble Plc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Noble Plc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Slb Limited | Production Systems 42.33 % |
| Dover Corp | Clean Energy & Fueling 27.13 % |
| Halliburton Company | Completion and Production 54.16 % |
| Loews Corp | CNA Financial Corporation 80.29 % |
| Matson inc | Ocean Transportation Segment 81.62 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Noble Plc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Noble Corporation Plc | 6,525 | 666,345 | 11,923 |
| Slb Limited | 74,730 | 338,404 | 28,541 |
| Dover Corp | 27,495 | 357,367 | 75,230 |
| Halliburton Company | 26,491 | 468,250 | 41,750 |
| Loews Corp | 22,443 | 1,433,740 | 119,008 |
| Lineage Inc | 8,922 | 224,417 | -7,875 |
| PEERS TOTAL | 200,527 | 426,472 | 35,842 |
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Noble Plc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Slb Limited | Middle East 29.71 % |
| Dover Corp | United States 56.96 % |
| Halliburton Company | North America 37.87 % |
| Transocean ltd | US 34.90 % |
| Helmerich and Payne inc | United States 58.76 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Noble Plc's Position in Industry Market Structure
Market-capitalization share and concentration across all 15 companies in Noble Plc's industry classification, broader than the peer set above. Market cap in millions of $.Noble Plc ranks #1 of 15 companies by market capitalization in its industry, holding 17.79 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,216, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Noble Corporation Plc | 6,522 | 17.79 % |
| 2 | Transocean ltd | 6,298 | 17.18 % |
| 3 | Valaris Limited | 5,616 | 15.32 % |
| 4 | Patterson uti Energy Inc | 3,772 | 10.29 % |
| 5 | Helmerich and Payne inc | 1,234 | 5.2% |
| 6 | Baytex Energy Corp | 1,234 | 5.2% |
| 7 | Seadrill Limited | 1,234 | 5.2% |
| 8 | Precision Drilling Corporation | 1,234 | 5.2% |
| 9 | Nabors Industries Ltd | 1,234 | 5.2% |
| 10 | Highpeak Energy Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Noble Plc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Noble Plc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Noble Corporation Plc | 6,522 | 42.23 % |
| 2 | Transocean ltd | 6,298 | 33.21 % |
| 3 | Valaris Limited | 1,234 | 12.3% |
| 4 | Patterson uti Energy Inc | 1,234 | 12.3% |
| 5 | Helmerich and Payne inc | 1,234 | 12.3% |
| 6 | Baytex Energy Corp | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Noble Plc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Noble Plc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Oil Well Services & Equipment industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (42 companies). See the full Oil Well Services & Equipment industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 59.17 % | 24.27 % (avg) | +34.9 pp |
| Operating Margin | 12.61 % | industry median | +0.0 pp |
| EBITDA Margin | 9.55 % | 12.78 % (avg) | -3.2 pp |
| Capital Intensity (Capex / Revenue) | 21.75 % | 17.76 % (avg) | +4.0 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Noble Plc's Valuation vs Competitive Position
Valuation multiples vs the Oil Well Services & Equipment industry average (42 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Oil Well Services & Equipment industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 130.8x | 34.7x | +96.1x |
| EV / EBITDA | 29.1x | 14.3x | +14.8x |
| P/B | 1.5x | 1.7x | -0.1x |
| Return on Equity | 1.20 % | industry aggregate | -1.61 % |
| Return on Invested Capital | 3.40 % | -0.51 % (avg) | 3.91 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Noble Plc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2017 | 2018 | 2019 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue Growth | -46.27 % | -12.46 % | 20.56 % | 83.12 % | 18.11 % | 7.45 % |
| Operating Margin | -13.20 % | -87.37 % | -51.04 % | 24.34 % | 19.75 % | 13.25 % |
| Return on Invested Capital | -0.96 % | -6.45 % | -5.38 % | 7.47 % | 5.86 % | 3.77 % |
| P/E | - | - | - | 14.1x | 10.9x | 21.9x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Noble Plc's Strategic Group Map
Noble Plc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Noble Plc's trailing-12-month revenue growth of -13.1% and operating margin of 12.6% compares with an average of -5.5% growth and 12.0% margin across its 8 closest peers by combined growth, margin and ROIC -- Noble Plc sits below that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Noble Plc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Noble Plc falls in the Cash Cow quadrant: relative market share of 1.04x vs its largest competitor, in an industry growing revenue -3.6% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Noble Plc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,216 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 21.75 % vs industry average 17.76 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Noble Plc's dedicated Suppliers and Customers pages, not here.
Noble Plc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Noble Plc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Noble Plc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Market leader by capitalization in its industry (#1 of 15, 17.79 % share).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Latest-quarter revenue run-rate is decelerating (-2.8% annualized vs trailing 12 months).
Opportunities
No rule matched.
Threats
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: see Methodology: SWOT Analysis.
Noble Plc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Noble Corporation Plc | 0.69 | 1.83 | 0.43 |
| Slb Limited | 0.19 | 1.37 | 0.38 |
| Dover Corp | - | 1.89 | 0.48 |
| Halliburton Company | 0.35 | 2.04 | 0.66 |
| Loews Corp | 0.04 | 0.89 | 0.46 |
| Lineage Inc | - | 0.85 | 0.67 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Noble Plc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Noble Corporation Plc | Q3 2026 | -8.7 % | - |
| Slb Limited | Q3 2026 | +5.8 % | -5.0 % |
| Dover Corp | Q3 2026 | +7.5 % | -51.6 % |
| Halliburton Company | Q3 2026 | +1.8 % | +1,985.0 % |
| Loews Corp | Q3 2026 | +1.9 % | -42.9 % |
| Lineage Inc | Q2 2026 | +0.8 % | - |
| PEERS TOTAL | +5.7 % | +217.4 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Noble Plc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Noble Corporation Plc | Q3 2026 | -70.1 % | +39.5 % |
| Slb Limited | Q3 2026 | +93.4 % | +15.0 % |
| Dover Corp | Q3 2026 | +6.9 % | +2.3 % |
| Halliburton Company | Q3 2026 | - | +1.9 % |
| Loews Corp | Q3 2026 | +1.9 % | +68.6 % |
| Lineage Inc | Q2 2026 | +1.7 % | -23.3 % |
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Noble Plc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Noble Corporation Plc | 0.73% | 0.81% | 1.20% |
| Slb Limited | 5.63% | 7.16% | 11.40% |
| Dover Corp | 13.30% | 16.39% | 23.89% |
| Halliburton Company | 7.85% | 9.85% | 18.41% |
| Loews Corp | 1.81% | 2.25% | 7.95% |
| Lineage Inc | - | - | - |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Noble Plc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Noble Corporation Plc | 123.85 | 2.18 |
| Slb Limited | 24.00 | 2.03 |
| Dover Corp | 33.42 | 3.21 |
| Halliburton Company | 13.38 | 1.18 |
| Loews Corp | 15.47 | 1.19 |
| Lineage Inc | - | 1.66 |
| PEERS AVERAGE | 15.55 | 1.29 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.