Do noindex,follow pages pass pagerank / link juice?
Eric Enge: Can a NoIndex page accumulate PageRank?
Matt Cutts: A NoIndex page can accumulate PageRank, because the links are still followed outwards from a NoIndex page.
Eric Enge: So, it can accumulate and pass PageRank.
Matt Cutts: Right, and it will still accumulate PageRank, but it won't be showing in our Index. So, I wouldn't make a NoIndex page that itself is a dead end. You can make a NoIndex page that has links to lots of other pages.
Google recently (December 2017) said that
noindex,follow pages end up not not passing link juice.
Initially link juice will get passed, but eventually the links on the
noindex page will be ignored. Long term,
noindex,follow is equivelent to
noindex,nofollow. See: Google: Long Term Noindex Will Lead To Nofollow Also