InsiderClue
Stocks · Energy · Crude Petroleum & Natural Gas

NORTHERN OIL & GAS, INC.

NOG Clue Score60
United States Fiscal year ends December CIK 0001104485
$24.76 -1.51% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $24.76 −6.46% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue144.9Operating income−229.3Net income−293.5EPS, diluted−4.80Fiscal year 2017Revenue209.3 +44.5%Operating income60.5Net income−9.2EPS, diluted−0.15Fiscal year 2018Revenue678.9 +224.3%Operating income432.6Net income143.7EPS, diluted6.07Fiscal year 2019Revenue472.4 −30.4%Operating income55.5Net income−76.3 −153.1%EPS, diluted−2.00Fiscal year 2020Revenue324.1 −31.4%Operating income−841.2Net income−906.0EPS, diluted−21.55Fiscal year 2021Revenue975.1 +200.9%Operating income78.0Net income6.4EPS, diluted−0.13Fiscal year 2022Revenue1,985.8 +103.7%Operating income853.2Net income773.2 +12,055.9%EPS, diluted8.92Fiscal year 2023Revenue2,166.3 +9.1%Operating income1,121.9Net income923.0 +19.4%EPS, diluted10.03Fiscal year 2024Revenue2,225.7 +2.7%Operating income837.8Net income520.3 −43.6%EPS, diluted5.14Fiscal year 2025Revenue2,475.7 +11.2%Operating income245.8Net income38.8 −92.6%EPS, diluted0.39
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 144.9 209.3 678.9 472.4 324.1 975.1 1,985.8 2,166.3 2,225.7 2,475.7
Growth +44.5% +224.3% −30.4% −31.4% +200.9% +103.7% +9.1% +2.7% +11.2%
Operating income −229.3 60.5 432.6 55.5 −841.2 78.0 853.2 1,121.9 837.8 245.8
Net income −293.5 −9.2 143.7 −76.3 −906.0 6.4 773.2 923.0 520.3 38.8
Growth −153.1% +12,055.9% +19.4% −43.6% −92.6%
EPS, diluted −4.80 −0.15 6.07 −2.00 −21.55 −0.13 8.92 10.03 5.14 0.39

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin−158.2%Net margin−202.5%Free cash flow margin70.2%Fiscal year 2017Operating margin28.9%Net margin−4.4%Free cash flow margin34.9%Fiscal year 2018Operating margin63.7%Net margin21.2%Free cash flow margin36.0%Fiscal year 2019Operating margin11.8%Net margin−16.2%Fiscal year 2020Operating margin−259.6%Net margin−279.6%Fiscal year 2021Operating margin8.0%Net margin0.7%Fiscal year 2022Operating margin43.0%Net margin38.9%Fiscal year 2023Operating margin51.8%Net margin42.6%Fiscal year 2024Operating margin37.6%Net margin23.4%Fiscal year 2025Operating margin9.9%Net margin1.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −158.2% 28.9% 63.7% 11.8% −259.6% 8.0% 43.0% 51.8% 37.6% 9.9%
Net margin −202.5% −4.4% 21.2% −16.2% −279.6% 0.7% 38.9% 42.6% 23.4% 1.6%
Free cash flow margin 70.2% 34.9% 36.0% n/a n/a n/a n/a n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow101.9Capital expenditure−0.2Free cash flow101.7Buybacks0.0Fiscal year 2017Operating cash flow73.0Capital expenditure−0.0Free cash flow73.0 −28.2%Buybacks0.0Fiscal year 2018Operating cash flow244.3Capital expenditure−0.1Free cash flow244.2 +234.7%Buybacks−22.2Fiscal year 2019Operating cash flow339.8Buybacks−15.1Dividends paid0.0Fiscal year 2020Operating cash flow331.7Buybacks0.0Dividends paid0.0Fiscal year 2021Operating cash flow396.5Buybacks0.0Dividends paid−4.9Fiscal year 2022Operating cash flow928.4Buybacks−54.5Dividends paid−51.6Fiscal year 2023Operating cash flow1,183.3Buybacks−8.0Dividends paid−123.9Fiscal year 2024Operating cash flow1,408.7Buybacks−94.5Dividends paid−162.0Fiscal year 2025Operating cash flow1,505.3Buybacks−57.0Dividends paid−173.4
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 101.9 73.0 244.3 339.8 331.7 396.5 928.4 1,183.3 1,408.7 1,505.3
Capital expenditure −0.2 −0.0 −0.1 n/a n/a n/a n/a n/a n/a n/a
Free cash flow 101.7 73.0 244.2 n/a n/a n/a n/a n/a n/a n/a
Growth −28.2% +234.7%
Buybacks 0.0 0.0 −22.2 −15.1 0.0 0.0 −54.5 −8.0 −94.5 −57.0
Dividends paid n/a n/a n/a 0.0 0.0 −4.9 −51.6 −123.9 −162.0 −173.4

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash6.5Total debt832.6Net cash (debt)−826.1Shareholders’ equity−487.4Fiscal year 2017Cash102.2Total debt979.3Net cash (debt)−877.1Shareholders’ equity−490.8Fiscal year 2018Cash2.4Total debt830.2Net cash (debt)−827.8Shareholders’ equity429.9Debt to equity1.93Fiscal year 2019Cash16.1Total debt1,118.2Net cash (debt)−1,102.1Shareholders’ equity558.6Debt to equity2.00Fiscal year 2020Cash1.4Total debt944.8Net cash (debt)−943.4Shareholders’ equity−223.3Fiscal year 2021Cash9.5Total debt803.4Net cash (debt)−793.9Shareholders’ equity215.1Debt to equity3.73Fiscal year 2022Cash2.5Total debt1,525.4Net cash (debt)−1,522.9Shareholders’ equity745.3Debt to equity2.05Fiscal year 2023Cash8.2Total debt1,835.6Net cash (debt)−1,827.4Shareholders’ equity2,047.7Debt to equity0.90Fiscal year 2024Cash8.9Total debt2,369.3Net cash (debt)−2,360.4Shareholders’ equity2,320.4Debt to equity1.02Fiscal year 2025Cash14.3Total debt2,395.4Net cash (debt)−2,381.1Shareholders’ equity2,126.3Debt to equity1.13
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 6.5 102.2 2.4 16.1 1.4 9.5 2.5 8.2 8.9 14.3
Total debt 832.6 979.3 830.2 1,118.2 944.8 803.4 1,525.4 1,835.6 2,369.3 2,395.4
Net cash (debt) −826.1 −877.1 −827.8 −1,102.1 −943.4 −793.9 −1,522.9 −1,827.4 −2,360.4 −2,381.1
Shareholders’ equity −487.4 −490.8 429.9 558.6 −223.3 215.1 745.3 2,047.7 2,320.4 2,126.3
Debt to equity n/a n/a 1.93 2.00 n/a 3.73 2.05 0.90 1.02 1.13

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−158.2% 28.9% 63.7% 11.8% −259.6% 8.0% 43.0% 51.8% 37.6% 9.9%
−203.5% −5.1% 21.2% −16.2% −279.6% 0.7% 39.1% 46.2% 30.6% 2.5%
−202.5% −4.4% 21.2% −16.2% −279.6% 0.7% 38.9% 42.6% 23.4% 1.6%
70.2% 34.9% 36.0% n/a n/a n/a n/a n/a n/a n/a
Spending
10.2% 9.1% 2.1% 5.0% 5.7% 3.1% 2.4% 2.2% 2.3% 2.5%
0.1% 0.0% 0.0% n/a n/a n/a n/a n/a n/a n/a
n/a n/a −0.0% n/a n/a 3.5% 0.4% 7.8% 23.6% 38.2%
Returns
n/a n/a 33.4% −13.7% n/a 3.0% 103.8% 45.1% 22.4% 1.8%
−68.0% −1.5% 9.6% −4.0% −103.9% 0.4% 26.9% 20.6% 9.3% 0.7%
Balance and payout
n/a n/a 1.93 2.00 n/a 3.73 2.05 0.90 1.02 1.13
213.0% 177.6% 71.4% 70.7% 125.6% 85.9% 74.1% 54.3% 58.6% 60.7%
n/a n/a n/a n/a n/a 77.6% 6.7% 13.4% 31.1% 447.4%
0.0% 0.0% 9.1% n/a n/a n/a n/a n/a n/a n/a