Noble (NE.WS) ROCE % : 2.22% (As of Mar. 2024)

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What is Noble ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Noble's annualized ROCE % for the quarter that ended in Mar. 2024 was 2.22%.

Noble ROCE % Historical Data

The historical data trend for Noble's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Noble ROCE % Chart

Noble Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

ROCE %

7.33

12.11

Noble Semi-Annual Data
	Dec20	Sep21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial						2.38	1.78	4.73	3.32	2.22

Noble ROCE % Calculation

Noble's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	571.382	/	( ( (5234.864 - 667.098)	+	(5507.437 - 641.68) )	/ 2 )
	=	571.382	/	( (4567.766	+	4865.757)	/ 2 )
	=	571.382	/	4716.7615
	=	12.11 %

Noble's ROCE % of for the quarter that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	107.547	/	( ( (5507.437 - 641.68)	+	(5436.151 - 603.375) )	/ 2 )
	=	107.547	/	( ( 4865.757	+	4832.776 )	/ 2 )
	=	107.547	/	4849.2665
	=	2.22 %

(1) Note: The EBIT data used here is one times the annual (Mar. 2024) EBIT data.

Noble (NYSE:NE.WS) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

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Noble (NE.WS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Noble Corp PLC (NYSE:NE.WS) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

NE:USA NOBLE:Denmark 85V1:Germany 85V1:Germany

Address

13135 Dairy Ashford, Suite 800, Sugar Land, TX, USA, 77478

Website

https://www.noblecorp.com

Noble Corp PLC is an offshore drilling contractor for the oil and gas industry that provides contract drilling services to the international oil and gas industry with its fleet of mobile offshore drilling units. The company focuses on a high-specification fleet of floating and jackup rigs and the deployment of its drilling rigs in oil and gas basins around the world.