Murphy Oil vs Northern Oil and Gas
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The short version
- Murphy Oil is the larger business, with $2.7B of revenue in fiscal 2025 against $2.5B for Northern Oil and Gas.
- Northern Oil and Gas grew revenue faster (11.2%, against −10.2%).
- Murphy Oil kept more of each dollar of sales as operating profit (11.1% operating margin, against 9.9%).
- Northern Oil and Gas turned more of its sales into free cash flow (60.8% FCF margin, against 8.4%).
| Latest fiscal year | MUR · FY25 | NOG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.5B | $3.1B |
| Revenue | $2.7B | $2.5B |
| Free cash flow | $227M | $1.5B |
| Net income | $104M | $38.8M |
| Growth | ||
| Revenue growth | −10.2% | 11.2% |
| 5-year growth | 6.7% | 35.0% |
| Share count change | −4.6% | −1.9% |
| Profitability | ||
| Gross margin | — | 80.9% |
| Operating margin | 11.1% | 9.9% |
| Net margin | 3.8% | 1.6% |
| FCF margin | 8.4% | 60.8% |
| Return on capital | 3.7% | 3.3% |
| Return on equity | 2.0% | 1.7% |
| Balance sheet | ||
| Net debt | $908M | $2.4B |
| Net debt / EBITDA | 0.7x | — |
| Dividends and buybacks | $289M | $230M |
| Valuation & quality | ||
| P/E | 22.0x | — |
| Piotroski F-score | 5 | 7 |
Revenue
FY16
MUR $1.8B
NOG $145M
FY17
MUR $1.4B
NOG $209M
FY18
MUR $1.8B
NOG $679M
FY19
MUR $2.8B
NOG $472M
FY20
MUR $2.0B
NOG $552M
FY21
MUR $2.3B
NOG $497M
FY22
MUR $3.9B
NOG $1.6B
FY23
MUR $3.5B
NOG $2.2B
FY24
MUR $3.0B
NOG $2.2B
FY25
MUR $2.7B
NOG $2.5B
MUR
NOG
Operating margin
FY16
MUR −21.5%
NOG −158.3%
FY17
MUR −1.8%
NOG 28.9%
FY18
MUR 12.0%
NOG 63.7%
FY19
MUR 15.7%
NOG 11.8%
FY20
MUR −69.3%
NOG −152.3%
FY21
MUR 12.2%
NOG 15.7%
FY22
MUR 40.4%
NOG 54.3%
FY23
MUR 30.1%
NOG 51.8%
FY24
MUR 19.9%
NOG 37.6%
FY25
MUR 11.1%
NOG 9.9%
MUR
NOG
Free cash flow
FY16
MUR −$326M
NOG $102M
FY17
MUR −$297M
NOG $73.0M
FY18
MUR −$262M
NOG $244M
FY19
MUR $145M
NOG $339M
FY20
MUR $42.9M
NOG $331M
FY21
MUR $772M
NOG $396M
FY22
MUR $1.2B
NOG $924M
FY23
MUR $683M
NOG $1.2B
FY24
MUR $829M
NOG $1.4B
FY25
MUR $227M
NOG $1.5B
MUR
NOG
Return on capital
FY16
MUR −4.2%
NOG −37.2%
FY17
MUR −0.3%
NOG 13.2%
FY18
MUR 3.1%
NOG 52.6%
FY19
MUR 5.2%
NOG 3.0%
FY20
MUR −14.2%
NOG −55.8%
FY21
MUR 4.3%
NOG 8.7%
FY22
MUR 19.6%
NOG 51.9%
FY23
MUR 12.6%
NOG 33.7%
FY24
MUR 8.2%
NOG 15.0%
FY25
MUR 3.7%
NOG 3.3%
MUR
NOG
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.