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STOCK COMPARISON

Dolphin Drilling AS vs Noble Corporation: Fair Value & Quality

Both stocks run through our valuation models. Here is how Dolphin Drilling AS (DDRIL) and Noble Corporation (NE) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Dolphin Drilling AS as the less overvalued of the two: Dolphin Drilling AS trades at NOK 2.15 versus a fair value of NOK 1.40 (-35%), while Noble Corporation trades at $46.59 versus $23.09 (-50%).
Dolphin Drilling AS
DDRIL.OL · NOK · Energy
-35%
upside to fair value
overvalued
PriceNOK 2.15
Fair ValueNOK 1.40
Quality37/100
Noble Corporation
NE · USD · Energy
-50%
upside to fair value
overvalued
Price$46.59
Fair Value$23.09
Quality46/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Dolphin Drilling ASNoble Corporation
Valuation
—P/E (TTM)28.0×
0.64×P/S (TTM)2.11×
2.89×P/B1.40×
—EV/EBITDA7.9×
−34.9%Fair value upside−50.4%
19.3%Dividend yield4.3%
—Dividend per share$2.00
Profitability
4%Operating margin19%
-191%Return on equity5%
-11%Return on assets3%
Growth
-2%Revenue growth (YoY)-11%
—Avg. growth/yr (3Y)32.5%
—Avg. growth/yr (5Y)27.8%
—Value creation/yr−17.8%
Balance & size
—Interest coverage (EBIT/interest)3.2×
1.55×Debt / equity0.43×
$113MMarket cap$6B
mixedGrowth qualitymixed

Noble Corporation leads: 3 to 4 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Dolphin Drilling ASof which business quality 37 · market factors 27 Noble Corporationof which business quality 48 · market factors 66
ProfitabilityMargins and returns on capital today
29
27
Quality GrowthAre margins and returns improving?
86
32
CashflowEarnings quality: real cash, not paper profit
0
69
Fin. StrengthBalance sheet, leverage, solvency risk
37
55
InvestmentDisciplined investing over empire-building
44
40
Low VolatilityCalm price path (market factor)
60
53
MomentumPrice trend over the last 3–12 months (market factor)
21
62
52W MomentumDistance to the 52-week high (market factor)
1
86
Net IssuanceBuybacks instead of dilution
50
62

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyDolphin Drilling ASPrice NOK 2.15Noble CorporationPrice $46.59
DCF Modelsn/a-45%below the price$25.79
Earnings-Basedn/a-64%below the price$16.71
Dividend Discount+5476%above the priceNOK 120-30%below the price$32.76
Multiples-35%below the priceNOK 1.40-51%below the price$22.97
Asset-Based-51%below the priceNOK 1.05-59%below the price$19.10
Growth DCFn/a-30%below the price$32.69
Economic Profitn/a-54%below the price$21.39
Growth Earningsn/a-61%below the price$18.07
Minimum-51%below the priceNOK 1.05-64%below the price$16.71
Maximum+5476%above the priceNOK 120-30%below the price$32.76
Median-35%below the priceNOK 1.40-52%below the price$22.18
Geometric mean+161%above the priceNOK 5.61-51%below the price$23.00

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Dolphin Drilling AS: 2 of 4 models see the stock below the current price.

Noble Corporation: 26 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Dolphin Drilling AS
Bear NOK 1.01Fair Value NOK 1.40Bull NOK 1.79
NOK 2.15 = current price (white tick)
Noble Corporation
Bear $17.32Fair Value $23.09Bull $28.86
$46.59 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Dolphin Drilling AS · Energy

Quality score37 · bottom 25%
Fair value upside-35% · below median

Noble Corporation · Energy

Quality score46 · below median
Fair value upside-50% · below median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Dolphin Drilling AS as the less overvalued of the two: Dolphin Drilling AS trades at NOK 2.15 versus a fair value of NOK 1.40 (-35%), while Noble Corporation trades at $46.59 versus $23.09 (-50%).

Noble Corporation has the higher quality score (46/100).

See the full analysis →
Dolphin Drilling AS · Noble Corporation

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.