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Noble vs Seadrill: NE and SDRL compared
Noble is the larger company: $729M of revenue in its latest quarter (Q3 2026) against $428M for Seadrill (Q3 2026). Seadrill is growing faster (+18% against -9% a year earlier). Seadrill is more profitable, with an operating margin of 10.3% against 8.2%.
Where the money goes: NE and SDRL
Noble (NE) · Q3 2026
Noble, Q3 2026: revenue $729M (-9% year over year), operating margin 8.2%, net loss $117M, operating cash flow $144M. The chart follows the revenue to costs, profit and cash.
Seadrill (SDRL) · Q3 2026
Seadrill, Q3 2026: revenue $428M (+18% year over year), operating margin 10.3%, net loss $30.0M, operating cash flow $195M. The chart follows the revenue to costs, profit and cash.
| Noble (NE) | Seadrill (SDRL) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $729M | $428M |
| Revenue growth, Y/Y | -9% | +18% |
| Operating margin | 8.2% | 10.3% |
| Net earnings | −$117M | −$30.0M |
| Net margin | -16.1% | -7.0% |
| Operating cash flow | $144M | $195M |
| Free cash flow | — | $179M |
| Market value | $6.5B | $2.7B |
| P/E | 123.8× | — |
| Analysts’ mean target | $47.17 | $54.00 |
Where the revenue comes from
Noble
- Oil and Gas Service: $684M (94%)
- Service, Other: $45.1M (6%)
Questions
Which is bigger, Noble or Seadrill?
Noble is the larger company: $729M of revenue in its latest quarter (Q3 2026) against $428M for Seadrill (Q3 2026).
Is Noble or Seadrill growing faster?
Seadrill is growing faster (+18% against -9% a year earlier).
Which is more profitable, Noble or Seadrill?
Seadrill is more profitable, with an operating margin of 10.3% against 8.2%.
More: Noble earnings · how Noble makes money · Seadrill earnings · how Seadrill makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 27, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.