Sable Offshore's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Sable Offshore (SOC) 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: Sable Offshore vs Its Competitors
- Profitability: Its -46.8% net margin compares with 9.4% for the peer group.
- Scale: Sable Offshore ranks #72 of 134 companies by market capitalization in the Oil And Gas Production industry, holding 0.0% of industry market cap.
- Peer revenue share: Sable Offshore accounted for 0.7% of combined revenue among its tracked peer group.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
SOC Sales vs. its Competitors, Q2 2026
With a net margin of -46.83 %, Sable Offshore reported lower profitability than its competitors (9.42 %).
Sable Offshore generated 0.74 % of the combined sales of its peer group.
Sable Offshore vs. its Competitors, Q2 2026
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 an SEC filing; 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 Sable Offshore and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Sable Offshore Corp | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (9) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Sable Offshore's competitor groups requires a Commercial License.
Sable Offshore's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Sable Offshore Corp | - | - | - | Yes |
| Competitors combined (11) | ||||
| Similar-Size Competitors (10) |
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.
SOC Stock Performance relative to its Competitors
SOC Stock Performance relative to Similar-Size Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Oceaneering International Inc | 282.9% | Outperformed |
| 2 | Transocean ltd | 282.9% | Outperformed |
| 3 | Valaris Limited | 282.9% | Outperformed |
| 4 | Seadrill Limited | 282.9% | Outperformed |
| 5 | Noble Corporation Plc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Sable Offshore's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Sable Offshore's Comment on Competition and Industry Peers
Publicly Traded Peers of Sable Offshore Corp
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Sable Offshore Corp | 531.01 | - |
| Slb Limited | 73,372.32 | 36,365.00 |
| Halliburton Company | 26,648.40 | 22,373.00 |
| Noble Corporation Plc | 6,660.58 | 3,067.81 |
| Transocean ltd | 6,298.48 | 4,118.00 |
| Valaris Limited | 5,433.58 | 2,213.70 |
| SUBTOTAL | 128,746.39 | 75,470.08 |
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Sources: Sable Offshore Corp's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Sable Offshore Corp versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Sable Offshore'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 42.03 % |
| Halliburton Company | Completion and Production 55.83 % |
| Valaris Limited | Jackups 45.17 % |
| Oceaneering International Inc | Subsea Robotics 30.20 % |
| Rpc inc | Technical Service 95.50 % |
Source: operating segment revenue as reported in each company's SEC filings (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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Sable Offshore'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 |
|---|---|---|---|
| Sable Offshore Corp | 531 | - | -2,168,970 |
| Slb Limited | 73,372 | 333,624 | 28,899 |
| Halliburton Company | 26,648 | 466,104 | 33,479 |
| Noble Corporation Plc | 6,661 | 681,735 | 33,241 |
| Transocean ltd | 6,298 | 735,357 | -273,393 |
| Valaris Limited | 5,434 | 582,553 | 263,237 |
| PEERS TOTAL | 128,215 | 391,826 | 24,793 |
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Sable Offshore's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. 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 28.67 % |
| Halliburton Company | North America 39.54 % |
| Transocean ltd | US 35.61 % |
| Oceaneering International Inc | UNITED STATES 39.32 % |
| Seadrill Limited | Brazil 38.75 % |
Source: revenue geography as reported in each company's SEC filings (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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Sable Offshore's Position in Industry Market Structure
Market-capitalization share and concentration across all 113 companies in Sable Offshore's industry classification, broader than the peer set above. Market cap in millions of $.Sable Offshore ranks #72 of 113 companies by market capitalization in its industry, holding 0.04 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 780, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Shell Plc | 285,734 | 19.05 % |
| 2 | Totalenergies Se | 206,896 | 13.79 % |
| 3 | Canadian Natural Resources Limited | 105,045 | 7.00 % |
| 4 | Eni Spa | 94,456 | 6.30 % |
| 5 | Slb Limited | 1,234 | 5.2% |
| 6 | Eog Resources Inc | 1,234 | 5.2% |
| 7 | Cenovus Energy Inc | 1,234 | 5.2% |
| 8 | Occidental Petroleum Corporation | 1,234 | 5.2% |
| 9 | Diamondback Energy Inc | 1,234 | 5.2% |
| 10 | Devon Energy Corp | 1,234 | 5.2% |
| 72 | Sable Offshore Corp | 526 | 0.04 % |
Market cap and industry share for the rest of Sable Offshore's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-30.
Sable Offshore'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 |
|---|---|---|---|
| 67 | New Era Energy and Digital Inc | 666 | 171.40 % |
| 68 | Vaalco Energy Inc | 595 | 40.49 % |
| 69 | Granite Ridge Resources Inc | 568 | -21.23 % |
| 70 | W and t Offshore inc | 557 | 90.05 % |
| 71 | Geopark Limited | 1,234 | 12.3% |
| 72 | Sable Offshore Corp | 526 | -81.52 % |
| 73 | Sandridge Energy Inc | 1,234 | 12.3% |
| 74 | Zion Oil and Gas Inc | 1,234 | 12.3% |
| 75 | Primeenergy Resources Corporation | 1,234 | 12.3% |
| 76 | Infinity Natural Resources Inc | 1,234 | 12.3% |
| 77 | Core Laboratories Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Sable Offshore's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-30. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Sable Offshore's Valuation vs Competitive Position
Valuation multiples vs the Oil And Gas Production industry average (170 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 And Gas Production industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 15.6x | - |
| EV / EBITDA | - | 9.0x | - |
| P/B | 3.4x | 1.8x | +1.6x |
| Return on Equity | -102.11 % | industry aggregate | -114.10 % |
| Return on Invested Capital | -31.35 % | 5.18 % (avg) | -36.53 % |
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.
Sable Offshore's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue Growth | - | - | - | - | - |
| Operating Margin | - | - | - | - | - |
| Return on Invested Capital | -0.59 % | -2.21 % | - | - | -32.41 % |
| P/E | - | - | - | - | - |
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.
Sable Offshore's BCG Growth-Share Matrix
Relative market share (vs Sable Offshore's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Sable Offshore falls in the Dog quadrant: relative market share of 0.00x vs its largest competitor, in an industry growing revenue -0.2% (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.
Sable Offshore'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 780 (see Industry Market Structure & Concentration above) |
| Supplier Power | Not covered on this page | See Sable Offshore's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Sable Offshore's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Sable Offshore's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Sable Offshore falls in the Low attractiveness / Low strength cell: Harvest / Divest.
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.
Sable Offshore'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
No rule matched.
Weaknesses
- Return on equity 114.1 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.00x).
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- A meaningful share of tracked competitors (36.40 %) show financial-distress signals, a possible opening to gain share.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Sable Offshore'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 |
|---|---|---|---|
| Sable Offshore Corp | 0.06 | 0.11 | 2.20 |
| Slb Limited | 0.20 | 1.37 | 0.38 |
| Halliburton Company | 0.36 | 2.02 | 0.68 |
| Noble Corporation Plc | 0.72 | 1.83 | 0.43 |
| Transocean ltd | 0.62 | 1.38 | 0.84 |
| Valaris Limited | 0.82 | 1.75 | 0.39 |
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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.
Sable Offshore'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 |
|---|---|---|---|
| Sable Offshore Corp | Q2 2026 | - | - |
| Slb Limited | Q2 2026 | +5.0 % | -22.2 % |
| Halliburton Company | Q2 2026 | +3.7 % | +11.3 % |
| Noble Corporation Plc | Q2 2026 | -15.2 % | - |
| Transocean ltd | Q2 2026 | -2.2 % | - |
| Valaris Limited | Q1 2026 | -25.0 % | - |
| PEERS TOTAL | +3.6 % | +224.0 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Sable Offshore'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 |
|---|---|---|---|
| Sable Offshore Corp | Q2 2026 | +125.2 % | -75.7 % |
| Slb Limited | Q2 2026 | +79.3 % | +29.0 % |
| Halliburton Company | Q2 2026 | - | -33.6 % |
| Noble Corporation Plc | Q2 2026 | -5.1 % | +75.4 % |
| Transocean ltd | Q2 2026 | +1.5 % | +0.0 % |
| Valaris Limited | Q1 2026 | -10.0 % | +0.7 % |
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Sable Offshore's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Sable Offshore Corp | - | - | - |
| Slb Limited | 5.73% | 7.18% | 11.58% |
| Halliburton Company | 6.36% | 7.98% | 15.08% |
| Noble Corporation Plc | 2.00% | 2.21% | 3.30% |
| Transocean ltd | - | - | - |
| Valaris Limited | 20.20% | 23.60% | 35.99% |
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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).
Sable Offshore's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Sable Offshore Corp | - | - |
| Slb Limited | 23.31 | 2.02 |
| Halliburton Company | 16.74 | 1.19 |
| Noble Corporation Plc | 44.88 | 2.17 |
| Transocean ltd | - | 1.53 |
| Valaris Limited | 5.55 | 2.45 |
| PEERS AVERAGE | 29.65 | 1.71 |
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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.