Short answer
Noble Corp plc (NE) filed its fiscal 2025 10-K annual report with the SEC on Feb 12, 2026. It reported revenue of $3.3B (+7.4% year over year) and net income of $217M.
- Top risk flagged: Regulatory risk from potential non-enforcement of pollution liability indemnities under contracts exposed to unpredictable judicial review risks
FY2025 key financial metrics · XBRL
- Revenue
- $3.3B
- +7.4% YoY
- Net income
- $217M
- −51.7% YoY
- Operating margin
- 12.6%
- −7.1 pp YoY
- EPS (diluted)
- $1.35
- −54.4% YoY
- ROE
- 4.8%
- −4.9 pp YoY
- Operating cash flow
- $952M
- +45.2% YoY
Source: XBRL data from the Noble Corp plc (NE) FY2025 10-K on SEC EDGAR. USD.
Noble Corp plc FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business offshore drilling services with 36 rigs (25 floaters, 11 jackups) worldwide
- Completed acquisition of Diamond Offshore Drilling in September 2024 via stock and cash deal
- Strategic expansion of fleet and market presence through Diamond merger
- Fleet size increased post-acquisition, strengthening drilling capabilities
- Diamond Transaction marks largest M&A event in 2026 filing year for Noble Corp
Management Discussion & Analysis
- Revenue $3.3B for 2025, net income $216.7M or $1.35 per diluted share
- Operating margin not explicitly stated; net income margin approx. 6.57% (216.7M / 3.3B)
- Single segment: Contract Drilling Services; backlog $7.0B with floaters $6.4B and jackups $0.6B
- Operating cash flow $951.7M, year-end cash $471.4M, no borrowings on $2023 Revolving Credit Facility
- Management outlook cautious due to inflation, supply chain, geopolitical risks; encouraged by long-term ultra-deepwater demand
Risk Factors
- Regulatory risk from potential non-enforcement of pollution liability indemnities under contracts exposed to unpredictable judicial review risks
- Geopolitical exposure to Russia-Ukraine conflict and Middle East instability impacting operations and causing regional/global market volatility
- Supply chain disruptions and increased rig downtime risk due to public health emergencies restricting labor, parts, and equipment mobility
- Competitive risk from newbuild rigs entering market and competitors relocating rigs, pressuring dayrates and utilization rates
- Customer concentration risk with ExxonMobil, Shell, BP, and TotalEnergies accounting for ~72% of backlog; geographic concentration in US Gulf, Guyana, North Sea
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.