Noble reported $97.1M of remaining performance obligations at 31 Dec 2025, down 5% from a year earlier. That is 0.0 years of trailing revenue already under contract.
66% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 100.0% of the backlog.
Twelve-month book-to-bill: 1.00, i.e. 1.00 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -12 points — revenue is catching up with orders.
The latest filed figure is more than 200 days old.
Noble backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
31 Dec 2025
$97.1M
$3.29B
0.0 yrs
$97.1M
31 Dec 2024
$102M
$3.06B
0.0 yrs
$102M
31 Dec 2023
$43.1M
$2.59B
0.0 yrs
$43.1M
30 Jun 2023
$40.9M
$2.18B
0.0 yrs
$40.9M
31 Mar 2023
$54.6M
$1.81B
0.0 yrs
$54.6M
31 Dec 2022
$59.8M
$1.41B
0.0 yrs
$59.8M
30 Sep 2022
$41.3M
n/a
n/a
$41.3M
Questions
What is Noble's backlog?
Noble reported $97.1M of remaining performance obligations at 31 Dec 2025, down 5% from a year earlier. That is 0.0 years of trailing revenue already under contract.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.