Noble Corp plc

Listed Company

NECIK 0001895262NYSELarge AcceleratedDrilling Oil & Gas WellsX0FY ends Dec 31

Period

FY 2025

Revenue

$3.29B

Net Income

$216.72M

Total Assets

$7.53B

Equity

$4.55B

Shares Out

159.55M

Op. Cash Flow

$951.68M

Business

Noble Corp plc is an offshore drilling contractor that provides contract drilling services to the international oil and gas industry using a global fleet of mobile offshore drilling units. It offers drilling services through high-specification floating units (drillships and semisubmersibles) and high-specification jackup rigs, providing dayrate, term and project-based contract drilling and related mobilization/demobilization services. The company reports a single Contract Drilling Services segment reflecting management and operational structure. Noble operates and redeploys its fleet across major offshore basins worldwide, including Africa, Far East Asia, the Middle East, the North Sea, Oceania, South America, and the US Gulf.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Operating revenues	3,286	3,058	2,589	1,414	770
Depreciation and amortization	585	429	301	147	90
General and administrative	133	140	128	82	62
Merger and integration costs	26	109	60	85	25
(Gain) loss on sale of operating assets, net	−10	−17	0	−90	−186
Loss on impairment	83	0	0	0	0
Hurricane losses and (recoveries), net	0	0	−20	60,000	23
Total operating costs and expenses	2,870	2,454	2,014	1,185	709
Operating income (loss)	416	604	575	229	61
Interest expense, net of amounts capitalized	−162	−94	−59	−43	—
Gain (loss) on extinguishment of debt, net	0	0	−26	−9	0
Interest income and other, net	20	−17	18	14	—
Gain on bargain purchase	0	0	5	0	62
Income (loss) before income taxes	273	492	512	192	102
Income tax benefit (provision)	−56	−44	−30	−23	−365,000
Net income (loss)	217	448	482	169	102
Basic earnings (loss) per share (usd per share)	1.36	3.01	3.48	1.99	1.61
Diluted earnings (loss) per share (usd per share)	1.35	2.96	3.32	1.73	1.51
Basic (in shares)	159	149	138	85	63
Diluted (in shares)	160	152	145	98	68

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	471	247	361	476	194
Accounts receivable, net	590	797	549	469	200
Taxes receivable	79	56	40	34	16
Prepaid expenses and other current assets	132	288	112	73	45
Total current assets	1,272	1,389	1,062	1,052	456
Property and equipment, at cost	6,639	6,905	4,592	4,163	1,556
Accumulated depreciation	−1,236	−869	−468	−182	−77
Property and equipment, net	5,403	6,036	4,124	3,981	1,479
Other assets	855	540	311	141	77
Total assets	7,530	7,965	5,507	5,235	2,073
Accounts payable	299	398	395	291	120
Accrued payroll and related costs	82	117	97	76	48
Taxes payable	83	79	56	57	29
Interest payable	36	36	11	10	10
Other current liabilities	260	311	82	74	41
Total current liabilities	760	940	642	667	248
Long-term debt	1,976	1,980	586	513	216
Deferred income taxes	5	9	11	9	13
Noncurrent contract liabilities	0	9	51	182	0
Other liabilities	240	375	296	256	95
Total liabilities	2,981	3,313	1,586	1,628	573
Commitments and contingencies (Note 12)	—	—	—	—	—
Common stock, $0.00001 par value; 158,853,799 and 158,946,711 ordinary shares outstanding as of December 31, 2025 and 2024, respectively	1,000	1,000	1,000	1,000	1,000
Additional paid-in capital	4,257	4,236	3,377	3,348	1,393
Retained earnings	287	411	541	256	102
Accumulated other comprehensive income (loss)	5	4	3	4	5
Total shareholders' equity	4,549	4,651	3,921	3,607	1,501
Total liabilities and equity	7,530	7,965	5,507	5,235	2,073

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of intangible assets and contract liabilities, net	−8	−60	−107	−5	52
(Gain) loss on sale of operating assets, net	−10	−17	0	−90	−186
Deferred income taxes	44	−43	−98	−26	−34
Amortization of share-based compensation	31	44	38	35	17
Other costs, net	−2	−14	−8	−323,000	1
Net changes in operating assets and liabilities	12	−131	−55	19	46
Net cash provided by (used in) operating activities	952	655	574	281	52
Capital expenditures	−520	−575	−410	−174	−154
Proceeds from insurance claims	22	23	19	0	0
Cash acquired (used) in business combinations, net	0	−417	0	167	—
Proceeds from disposal of assets, net	147	10	24	381	307
Net cash provided by (used in) investing activities	−350	−959	−367	376	208
Issuance of debt	0	824	600	350	—
Repayments of debt	0	0	−673	−627	0
Borrowing on credit facilities	0	35	0	220	40
Repayments of credit facilities	0	−35	0	−220	−218
Debt issuance costs	0	−10	−25	−641,000	0
Debt extinguishment costs	0	0	−26	0	0
Warrants exercised	44,000	1	485,000	1	730,000
Share repurchases	−20	−300	−95	−15	0
Dividend payments	−320	−278	−99	0	0
Withholding tax related to employee stock transactions	−10	−66	−9	−6	0
Finance lease payments	−24	−6	0	0	—
Other	0	23	0	0	—
Net cash provided by (used in) financing activities	−374	188	−326	−368	−177
Net increase (decrease) in cash, cash equivalents, and restricted cash	228	−115	−118	289	83

Filings

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