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Borr Drilling vs Noble: revenue, profit, margins and growth compared

Borr Drilling brought in $1B of revenue in fiscal 2025, Noble $3.3B in fiscal 2025. Revenue changed by +1.0% at Borr Drilling and +7.4% at Noble on the year before, so Noble grew faster. Borr Drilling kept 4.4% of its revenue as net profit, Noble 6.6%.

Side by side, latest fiscal year

BORRNE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1B$3.3B
Revenue growth+1.0%+7.4%
Net income$45M$216.7M
Net margin4.4%6.6%
Free cash flown/a$432.2M
Free cash flow marginn/a13.2%
Earnings per share (diluted)$0.17$1.35
Cash$379.7M$471.4M
Debt$2B$2B
Price to earningsn/a31.7
Market value$1.3B$6.8B
Dividend yieldn/a4.67%
Rank by revenue in sector#80 of 129 · Energy#44 of 129 · Energy

Over the years

Revenue
BORR FY2019: $164.9MBORR FY2019: $334.1MBORR FY2020: $307.5MBORR FY2021: $245.3MBORR FY2022: $443.8MBORR FY2023: $771.6MBORR FY2024: $1BBORR FY2025: $1BNE FY2020: $964.3MNE FY2022: $1.4BNE FY2023: $2.6BNE FY2024: $3.1BNE FY2025: $3.3BFY19FY20FY21FY22FY23FY24FY25
BORR $1BNE $3.3B
Net income
BORR FY2019: -$190.5MBORR FY2019: -$297.6MBORR FY2020: -$317.6MBORR FY2021: -$193MBORR FY2022: -$292.8MBORR FY2023: $22.1MBORR FY2024: $82.1MBORR FY2025: $45MNE FY2020: -$4BNE FY2022: $168.9MNE FY2023: $481.9MNE FY2024: $448.4MNE FY2025: $216.7MFY19FY20FY21FY22FY23FY24FY25
BORR $45MNE $216.7M
Net margin
BORR FY2019: -115.5%BORR FY2019: -89.1%BORR FY2020: -103.3%BORR FY2021: -78.7%BORR FY2022: -66.0%BORR FY2023: 2.9%BORR FY2024: 8.1%BORR FY2025: 4.4%NE FY2020: -412.6%NE FY2022: 11.9%NE FY2023: 18.6%NE FY2024: 14.7%NE FY2025: 6.6%FY19FY20FY21FY22FY23FY24FY25
BORR 4.4%NE 6.6%
Revenue growth
BORR FY2019: +102.6%BORR FY2020: -8.0%BORR FY2021: -20.2%BORR FY2022: +80.9%BORR FY2023: +73.9%BORR FY2024: +31.0%BORR FY2025: +1.0%NE FY2023: +83.1%NE FY2024: +18.1%NE FY2025: +7.4%FY19FY20FY21FY22FY23FY24FY25
BORR +1.0%NE +7.4%
Free cash flow
NE FY2020: $124.3MNE FY2022: $106.7MNE FY2023: $164.8MNE FY2024: $80.2MNE FY2025: $432.2MFY20FY22FY23FY24FY25
BORRNE $432.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Borr Drilling and Noble

Which is bigger by revenue, Borr Drilling or Noble?

Noble is bigger by revenue: $3.3B in fiscal 2025, against $1B for Borr Drilling in fiscal 2025.

Which keeps more of its revenue as profit, Borr Drilling or Noble?

Borr Drilling had a net margin of 4.4% in fiscal 2025; Noble had 6.6% in fiscal 2025.

Which grew revenue faster, Borr Drilling or Noble?

In their latest fiscal years revenue changed by +1.0% at Borr Drilling and +7.4% at Noble.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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