NOG

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Northern Oil and Gas, Inc.

Cyclical demand Sells to businesses Commodity producerTags from an AI model reading the company description.

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Key Metrics

Previous Close: $23.52
52-Week Range: $17.18 – $31.17
Market Cap: $2.54B
P/E (TTM): —
EPS (TTM): -4.85
Dividend Yield: 7.55%

Advanced Metrics

Price/Book: 1.27
PEG Ratio: 7.35
Return on Equity: -22.05%
Return on Assets: 4.60%
Gross Margin: 75.40%
Operating Margin: 57.06%
Profit Margin: -24.15%
Current Ratio: 0.80
Debt/Equity: 1.37
Total Debt: $2.72B
Free Cash Flow: $-459.63M
Revenue Growth: 16.00%
Earnings Growth: 119.00%
Enterprise Value: $5.21B

NOG Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$1.99B	$1.91B	$2.16B	$2.10B
Cost of Revenue	$670.14M	$993.15M	$1.33B	$1.42B
Gross Profit	$1.32B	$913.86M	$835.98M	$675.20M
Selling, General & Admin	$47.20M	$46.80M	$50.46M	$61.33M
Operating Expenses	$47.20M	$51.25M	$60.11M	$74.18M
Operating Income	$1.27B	$862.61M	$775.86M	$601.02M
EBITDA	$1.11B	$1.62B	$1.58B	$1.05B
Pretax Income	$776.34M	$1.00B	$680.82M	$62.70M
Income Tax	$3.10M	$77.77M	$160.51M	$23.94M
Net Income	$773.24M	$922.97M	$520.31M	$38.76M
Diluted EPS	8.92	10.03	5.14	0.39
Diluted Shares	86.68M	92.06M	101.27M	99.31M

NOG Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$2.53M	$8.20M	$8.93M	$14.30M
Receivables	$271.67M	$373.78M	$427.72M	$367.99M
Current Assets	$320.49M	$509.41M	$500.74M	$586.03M
Total Assets	$2.88B	$4.48B	$5.60B	$5.41B
Current Liabilities	$344.97M	$385.76M	$544.27M	$539.29M
Long-Term Debt	$1.53B	$1.84B	$2.37B	$2.40B
Total Debt	$1.53B	$1.84B	$2.37B	$2.40B
Total Liabilities	$2.13B	$2.44B	$3.28B	$3.28B
Retained Earnings	-$1.00B	-$77.79M	$442.52M	$481.28M
Shareholders' Equity	$745.26M	$2.05B	$2.32B	$2.13B
Working Capital	-$24.49M	$123.65M	-$43.53M	$46.74M
Net Debt	$1.52B	$1.83B	$2.36B	$2.38B

NOG Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$928.42M	$1.18B	$1.41B	$1.51B
Capital Expenditure	-$1.36B	-$1.86B	-$1.67B	-$1.25B
Free Cash Flow	-$431.36M	-$679.02M	-$266.09M	$252.83M
Stock-Based Compensation	$5.66M	$5.66M	$11.97M	$15.36M
Investing Cash Flow	-$1.40B	-$1.86B	-$1.67B	-$1.25B
Financing Cash Flow	$467.37M	$684.69M	$266.83M	-$247.46M
Dividends Paid	-$73.27M	-$123.94M	-$161.97M	-$173.40M
Net Change in Cash	-$6.99M	$5.67M	$738.00K	$5.37M

NOG Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$580.34M	$577.99M	$485.87M	$450.86M	$544.09M	$675.05M
Cost of Revenue	$355.80M	$362.79M	$346.36M	$354.92M	$365.19M	$365.67M
Gross Profit	$224.54M	$215.20M	$139.51M	$95.95M	$178.90M	$309.38M
Selling, General & Admin	$14.48M	$15.63M	$14.10M	$17.12M	$23.17M	$24.53M
Operating Expenses	$17.02M	$19.19M	$17.37M	$20.60M	$26.45M	$27.02M
Operating Income	$207.52M	$196.01M	$122.14M	$75.34M	$152.45M	$282.36M
EBITDA	$434.83M	$381.91M	$73.52M	$159.14M	-$456.23M	$544.92M
Pretax Income	$185.79M	$131.78M	-$168.80M	-$86.06M	-$695.92M	$310.60M
Income Tax	$46.80M	$32.19M	-$39.73M	-$15.33M	-$173.07M	$73.97M
Net Income	$138.98M	$99.58M	-$129.07M	-$70.73M	-$522.85M	$236.63M
Diluted EPS	1.39	1.00	-1.33	-0.73	-5.31	2.19
Diluted Shares	99.99M	99.39M	97.12M	97.12M	98.50M	108.09M

NOG Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$33.58M	$25.86M	$31.65M	$14.30M	$37.04M	$47.60M
Receivables	$419.47M	$422.06M	$350.60M	$367.99M	$409.17M	$395.62M
Current Assets	$521.61M	$588.36M	$542.48M	$586.03M	$472.90M	$502.10M
Total Assets	$5.67B	$5.70B	$5.49B	$5.41B	$5.51B	$5.83B
Current Liabilities	$564.32M	$488.20M	$495.34M	$539.29M	$899.38M	$630.49M
Long-Term Debt	$2.31B	$2.37B	$2.35B	$2.40B	$2.55B	$2.72B
Total Debt	$2.31B	$2.37B	$2.35B	$2.40B	$2.55B	$2.72B
Total Liabilities	$3.27B	$3.29B	$3.25B	$3.28B	$3.73B	$3.83B
Retained Earnings	$581.50M	$681.09M	$552.01M	$481.28M	-$41.57M	$195.06M
Shareholders' Equity	$2.40B	$2.41B	$2.24B	$2.13B	$1.78B	$2.00B
Working Capital	-$42.71M	$100.16M	$47.14M	$46.74M	-$426.48M	-$128.39M
Net Debt	$2.28B	$2.34B	$2.31B	$2.38B	$2.51B	$2.68B

NOG Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$407.43M	$362.11M	$423.12M	$312.63M	$323.62M	$321.62M
Capital Expenditure	-$264.56M	-$327.36M	-$352.58M	-$308.07M	-$634.68M	-$379.81M
Free Cash Flow	$142.87M	$34.75M	$70.54M	$4.56M	-$311.06M	-$58.19M
Stock-Based Compensation	$3.58M	$3.78M	$4.09M	$3.92M	$3.71M	$4.41M
Investing Cash Flow	-$264.56M	-$327.25M	-$352.58M	-$308.07M	-$634.68M	-$379.81M
Financing Cash Flow	-$118.22M	-$42.58M	-$64.75M	-$21.91M	$333.81M	$74.23M
Dividends Paid	-$41.73M	-$44.27M	-$43.70M	-$43.70M	-$44.51M	-$47.72M
Share Repurchases	-$15.01M	-$35.00M	$0.00	-$7.01M	$0.00	-$50.05M
Net Change in Cash	$24.64M	-$7.72M	$5.79M	-$17.35M	$22.74M	$16.04M

Market Snapshot

About

Northern Oil and Gas operates as a non-operating mineral interest owner in the Williston Basin (Bakken/Three Forks) and Permian Basin, collecting royalties from production.