Northern Oil and Gas
NOG NYSE· Oil & Gas Exploration & Production
Last close · Oct 26, 2026
$28.48
KIRA · Stoqly’s AI analyst, in plain words
- Northern Oil and Gas had $2.5B of revenue in fiscal 2025, up 11.2% on the year before. Over five years, revenue changed +35.0% a year on average.
- Its operating margin was 9.9%, down 27.7 pts: of every 100 in sales, about 10 is left after running the business.
- Northern Oil and Gas made $38.8M of net profit in fiscal 2025.
- Free cash flow was $1.5B in fiscal 2025, 60.8% of revenue.
- Northern Oil and Gas returned $230M to shareholders in fiscal 2025, 15% of free cash flow. The diluted share count fell 1.9%.
- Northern Oil and Gas owes $2.4B more than it holds in cash.
Market cap
$3.1B
P/E
—
Revenue
$2.5B
Net income
$38.8M
Free cash flow
$1.5B
Operating margin
9.9%
Northern Oil and Gas in 30 seconds · fiscal 2025
Are sales growing?
+11.2%
Yes. Sales grew 11.2% last year.
Does it make a profit?
1.6%
A little. It keeps 1.6% of every sale as profit.
Does profit turn into cash?
60.8%
Yes. 60.8% of sales ends up as free cash.
How healthy are the accounts?
7 / 9
Solid. It passes 7 of 9 health tests.
What Northern Oil and Gas does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Legal name
- NORTHERN OIL AND GAS, INC.
- CIK
- 0001104485
Northern Oil and Gas · NOG
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $497M | $1.6B | $2.2B | $2.2B | $2.5B |
| Revenue growth | −10.0% | 216.1% | 37.9% | 2.8% | 11.2% |
| Gross margin | 65.6% | 83.4% | 84.0% | 80.7% | 80.9% |
| Operating margin | 15.7% | 54.3% | 51.8% | 37.6% | 9.9% |
| Net income | $6.4M | $773M | $923M | $520M | $38.8M |
| Net margin | 1.3% | 49.2% | 42.6% | 23.4% | 1.6% |
| Diluted EPS | −$0.13 | $8.92 | $10.03 | $5.14 | $0.39 |
| Cash | |||||
| Cash from operations | $397M | $928M | $1.2B | $1.4B | $1.5B |
| Capital expenditure | $0.6M | $4.6M | $1.2M | $0.1M | $0.8M |
| Free cash flow | $396M | $924M | $1.2B | $1.4B | $1.5B |
| FCF margin | 79.7% | 58.8% | 54.6% | 63.3% | 60.8% |
| Dividends paid | $4.9M | $51.6M | $124M | $162M | $173M |
| Share buybacks | $0.0M | $54.5M | $8.0M | $94.5M | $57.0M |
| Share count change | 47.4% | 37.6% | 6.2% | 10.0% | −1.9% |
| Debt and strength | |||||
| Cash and short-term investments | $9.5M | $2.5M | $8.2M | $8.9M | $14.3M |
| Debt incl. finance leases | $803M | $1.5B | $1.8B | $2.4B | $2.4B |
| Shareholders' equity | $215M | $745M | $2.0B | $2.3B | $2.1B |
| Current ratio | 0.7x | 0.9x | 1.3x | 0.9x | 1.1x |
| Interest coverage | 1.3x | 10.6x | 8.3x | 5.3x | 1.4x |
| Returns and quality | |||||
| Return on capital | 8.7% | 51.9% | 33.7% | 15.0% | 3.3% |
| Return on equity | — | 161.0% | 66.1% | 23.8% | 1.7% |
| Piotroski F-score | 6 | 7 | 6 | 4 | 7 |
| Altman Z'' | −3.8 | 1.2 | 2.7 | 2.0 | 1.3 |
Insiders bought, 12 months
$1.1M
2 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Northern Oil and Gas · NOG
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Northern Oil and Gas NOG | $3.1B | 11.2% | 9.9% | 60.8% | 3.3% | — | 7 |
| Murphy Oil MUR | $6.5B | −10.2% | 11.1% | 8.4% | 3.7% | 21.9x | 5 |
| CNX Resources CNX | $5.8B | 76.8% | — | 23.9% | 11.8% | 6.2x | 6 |
| Comstock Resources CRK | $4.2B | 77.0% | 29.1% | −20.3% | 9.7% | 8.0x | 7 |
| Range Resources RRC | $12.7B | 28.9% | — | 18.9% | 13.7% | 14.8x | 8 |
KIRA
At $28.48 a share, the company is worth $3.1B.
Northern Oil and Gas grew sales faster than 1 of its 4 similar companies.
Source: SEC EDGAR XBRL filings (CIK 0001104485). Data updated October 21, 2026. For information only — not investment advice. Check the original filings before relying on any figure.