KPIs & Operating Metrics(New)
Growth Metrics

Noble (NE) Operating Expenses (2021 - 2026)

Noble posted quarterly Operating Expenses of $560.4 million for Q1 2026, down 18.45% year-on-year from $687.1 million in Q1 2025, and down 22.37% on a QoQ basis from $721.9 million in Q4 2025.

Noble (NE) has 6 years of Operating Expenses data on file, last reported at $560.4 million in Q1 2026.

  • For the quarter ending Q1 2026, Operating Expenses fell 18.45% year-over-year to $560.4 million; the trailing twelve-month figure through Mar 2026 stood at $2.7 billion (up 5.05% YoY), and the FY2025 full-year result was $2.9 billion, up 16.96% from the prior year.
  • Operating Expenses for Q1 2026 stood at $560.4 million, down from $721.9 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $756.3 million in Q4 2024 and bottomed at $227.6 million in Q2 2022.
  • The 5-year median for Operating Expenses is $529.4 million (2023), against an average of $534.3 million.
  • The widest annual swing landed in 2022, when Operating Expenses soared 546.29%; it then retreated 18.45% in 2026.
  • A 5-year view of Operating Expenses shows it stood at $458.4 million in 2022, then rose by 5.88% to $485.3 million in 2023, then surged by 55.85% to $756.3 million in 2024, then fell by 4.56% to $721.9 million in 2025, then dropped by 22.37% to $560.4 million in 2026.
  • The last three Operating Expenses figures came in at $560.4 million (Q1 2026), $721.9 million (Q4 2025), and $747.6 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Precision Drilling 157.47 Bn 157.41 Bn 120.82 Mn 30.44 Mn
2 Noble 8.34 Bn 7.67 Bn 755.58 Mn 560.38 Mn
3 Transocean 7.55 Bn 6.94 Bn 475.00 Mn 798.00 Mn
4 Patterson Uti Energy 4.63 Bn 4.30 Bn 535.85 Mn 1.13 Bn
5 Helmerich & Payne 3.96 Bn 3.86 Bn 907.56 Mn 969.28 Mn
6 Seadrill 3.20 Bn 2.87 Bn 177.00 Mn 334.00 Mn
7 Sable Offshore 2.10 Bn 2.05 Bn -66.76 Mn 120.03 Mn
8 Nabors Industries 1.49 Bn 1.37 Bn 290.08 Mn 765.29 Mn
9 Borr Drilling 1.48 Bn 1.10 Bn - -140.10 Mn

Historic Data

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DateValue
Mar 31, 2026 560.38 Mn
Dec 31, 2025 721.85 Mn
Sep 30, 2025 747.62 Mn
Jun 30, 2025 713.40 Mn
Mar 31, 2025 687.15 Mn
Dec 31, 2024 756.35 Mn
Sep 30, 2024 685.07 Mn
Jun 30, 2024 482.89 Mn
Mar 31, 2024 529.54 Mn
Dec 31, 2023 485.30 Mn
Sep 30, 2023 496.67 Mn
Jun 30, 2023 529.39 Mn
Mar 31, 2023 502.95 Mn
Dec 31, 2022 458.35 Mn
Sep 30, 2022 254.31 Mn
Jun 30, 2022 227.55 Mn
Mar 31, 2022 244.86 Mn
Dec 31, 2021 70.92 Mn
Sep 30, 2021 263.86 Mn