Nabors Industries Ltd (NBR) is undervalued and Noble Corp Plc (NE) is overvalued.
Against our estimates of intrinsic value, NBR trades at the wider discount: a margin of safety of +38%, against -44% for NE.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 6.8% (average of 3 methods) values the shares at $135.52; the price of $83.42 is 38% below that value, and 84% of that value comes from beyond year five.
Leak Score 70/100 on 3 of 12 signals
Discounting its cash flows at 9.0% (average of 3 methods) values the shares at $31.29; the price of $45.04 is 44% above that value, and 77% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
| Metric | NBR | NE |
|---|---|---|
| Verdict | Undervalued | Overvalued |
| Price | $83.42 | $45.04 |
| Intrinsic value | $135.52 | $31.29 |
| Margin of safety | +38% | -44% |
| Leak Score | 70/100 (3/12) | 0/100 (2/12) |
| Market cap | $1.3B | $7.2B |
| Revenue growth, 5 years | 8.3% | 27.8% |
| Operating margin | 7.9% | 12.6% |
| Net margin | 6.5% | 4.9% |
| Return on equity | 49.2% | 3.3% |
| Debt to equity | 3.91 | 0.42 |
| P/E | 6.2x | 48.7x |
| Forward P/E | 20.6x | 20.7x |
| P/B | 2.3x | 1.6x |
| Dividend yield | — | 4.4% |