Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
NobleNE +2.42%63 ROC (Joel Greenblatt) % is 1.15% as of Jun. 2026, which is 89% below its 10-year median of 10.12. GuruFocus rates NE with a GF Score™ of 63/100 and a GF Value™ of $38.67 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 1,005 Oil & Gas companies, Noble ranks worse than 56.92% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Noble's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 1.15%.
The historical rank and industry rank for Noble's ROC (Joel Greenblatt) % or its related term are showing as below:
NE'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 6.31 Med: 10.12 Max: 14.01
Current: 6.31
During the past 6 years, Noble's highest ROC (Joel Greenblatt) % was 14.01%. The lowest was 6.31%. And the median was 10.12%.
NE's ROC (Joel Greenblatt) % is ranked worse than 56.92% of 1005
companies
in the Oil & Gas industry
Industry Median: 8.9
vs NE: 6.31
Noble's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
The historical data trend for Noble's ROC (Joel Greenblatt) % 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.
NE vs RIG, VAL, PTEN: ROC (Joel Greenblatt) % Comparison
For the Oil & Gas Drilling subindustry, Noble's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Noble ROC (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Noble's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Noble's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 1.15% mean?
Noble (NE) has a ROC (Joel Greenblatt) % of 1.15% as of Jun. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Noble and its competitors. This is 89% below median its historical median of 10.12. Over the past decade, Noble's ROC (Joel Greenblatt) % has ranged from 6.31 to 14.01. According to the industry distribution chart, Noble ranks #572 out of 1005 companies in the Oil & Gas industry, placing it in the top 56.9%.
Is Noble's ROC (Joel Greenblatt) % too high?
Noble's current ROC (Joel Greenblatt) % of 1.15% is 89% below median its 10-year median of 10.12. Over the past 10 years, this metric has ranged from a low of 6.31 to a high of 14.01. The Oil & Gas industry median ROC (Joel Greenblatt) % is 8.90. Noble's value of 1.15% is 87.1% below this industry median. Based on the distribution chart, Noble ranks #572 out of 1005 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Noble has a GF Score™ of 63/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Noble's ROC (Joel Greenblatt) % compare to RIG and VAL?
According to the Oil & Gas industry distribution chart, Noble ranks #572 out of 1005 companies for ROC (Joel Greenblatt) %. This places Noble in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 8.90. Noble's value of 1.15% is 87.1% below this benchmark. Historically, Noble's own ROC (Joel Greenblatt) % has ranged from 6.31 to 14.01 over the past decade. While the company's 10-year median is 10.12 vs. the industry median of 8.90, Noble has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for an Oil & Gas company?
The median ROC (Joel Greenblatt) % among Oil & Gas companies is 8.90, based on 1,005 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Noble's current ROC (Joel Greenblatt) % of 1.15% is 87.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Noble and its competitors. For the Oil & Gas industry, the median ROC (Joel Greenblatt) % is 8.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Noble's current ROC (Joel Greenblatt) % is 1.15%, which is 89% below median its own 10-year median of 10.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Noble stock overvalued right now?
Based on GuruFocus' analysis, Noble (NE) is currently considered Modestly Overvalued. The stock's GF Value™ is $38.67, compared to a current price of $46.98 — trading 21.5% above its estimated fair value. The current ROC (Joel Greenblatt) % is 1.15%, which is 89% below median its 10-year median of 10.12 and 87.1% below the Oil & Gas industry median of 8.90. Noble's overall GF Score™ is 63/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Noble (NE), the current ROC (Joel Greenblatt) % is 1.15% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Noble (NE) Overvalued in 2026?
Based on GuruFocus' analysis, Noble stock appears to be overvalued.
The current stock price of $46.98 is trading 21.5% above its estimated GF Value™ of $38.67.
GuruFocus considers Noble to be Modestly Overvalued.
Key valuation signals for NE:
ROC (Joel Greenblatt) %: 1.15% (89% below median its 10-year median of 10.12)
GF Value™: $38.67 vs. price of $46.98 (21.5% above fair value)
Industry Position: 87.1% below the Oil & Gas median (#572 of 1005)
No single metric tells the full story. See the NE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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 on deploying its drilling rigs in oil and gas basins around the world. The mobile offshore drilling units comprising the offshore rig fleet operate in international markets for contract drilling services and are often redeployed to different regions due to changing customer demand, which consists mainly of large, integrated, independent, and government-owned or controlled oil and gas companies throughout the world.
63GF Score
Get the complete analysis for NE
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NE has been successfully added to your 
