Revenue
$2.48B
Fiscal year ended 2025-12-31Operating income
$245.85M
Fiscal year ended 2025-12-31Free cash flow
Unavailable
Fiscal year ended 2025-12-31NORTHERN OIL & GAS, INC. (NOG) reported revenue of $2.48B and net income of $38.76M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from NORTHERN OIL & GAS, INC.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Crude Petroleum & Natural Gas.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.48B | $2.23B | $2.17B | $1.57B | $496.90M | $552.21M | $472.40M | $678.92M | $209.32M | $144.90M |
| Cost of revenue | $473.67M | $429.79M | $347.01M | $260.68M | $170.82M | $116.34M | $118.90M | $66.65M | $49.73M | $45.68M |
| Gross profit | $2.00B | $1.80B | $1.82B | $1.31B | $326.08M | $435.87M | $353.50M | $612.28M | $159.59M | $99.22M |
| Operating income | $245.85M | $837.83M | $1.12B | $853.19M | $77.96M | -$841.24M | $55.51M | $432.63M | $60.50M | -$229.30M |
| Net income | $38.76M | $520.31M | $922.97M | $773.24M | $6.36M | -$906.04M | -$76.32M | $143.69M | -$9.19M | -$293.49M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 99.31M | shares 101.27M | shares 92.06M | shares 86.68M | shares 62.99M | shares 42.74M | shares 38.71M | shares 23.68M | shares 62.41M | shares 61.17M |
| Pretax income | $62.70M | $680.82M | $1.00B | $776.34M | $6.59M | -$906.21M | -$76.32M | $143.63M | -$10.76M | -$294.90M |
| Income tax expense | $23.94M | $160.51M | $77.77M | $3.10M | $233.00K | -$166.00K | $0 | -$55.00K | -$1.57M | -$1.40M |
| Diluted EPS | $0.39 | $5.14 | $10.03 | $8.92 | $-0.13 | $-21.55 | $-2.00 | $6.07 | $-0.15 | $-4.80 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | $61.33M | $50.46M | $46.80M | $47.20M | $30.34M | $18.55M | $23.62M | $14.57M | $18.99M | $14.76M |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $14.30M | $8.93M | $8.20M | $2.53M | $9.52M | $1.43M | $16.07M | $2.36M | $102.18M | $6.49M |
| Total assets | $5.41B | $5.60B | $4.48B | $2.88B | $1.52B | $872.09M | $1.91B | $1.50B | $632.25M | $431.53M |
| Current assets | $586.03M | $500.74M | $509.41M | $320.48M | $215.33M | $125.63M | $133.04M | $228.42M | $152.76M | $46.89M |
| Total liabilities | $3.28B | $3.28B | $2.44B | $2.13B | $1.31B | $1.10B | $1.35B | $1.07B | $1.12B | $918.95M |
| Current liabilities | $539.29M | $544.27M | $385.76M | $344.97M | $327.56M | $182.48M | $203.48M | $231.53M | $123.58M | $77.44M |
| Total equity incl. NCI | $2.13B | $2.32B | $2.05B | $745.26M | $215.14M | -$223.30M | $558.64M | $429.86M | -$490.84M | -$487.42M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | $349.93M | $389.67M | $370.53M | $271.34M | $193.55M | $71.02M | $108.27M | $96.35M | $46.85M | $35.84M |
| Goodwill | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt | $2.40B | $2.37B | $1.84B | $1.53B | $803.44M | $879.84M | $1.12B | $830.20M | $979.32M | $832.63M |
| Accounts payable | $218.62M | $202.87M | $192.67M | $128.58M | $65.46M | $35.80M | $69.40M | $55.02M | $93.15M | $56.15M |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.51B | $1.41B | $1.18B | $928.42M | $396.47M | $331.68M | $339.75M | $244.26M | $72.97M | Unavailable |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $86.78K | $3.95K | $214.68K |
| Investing cash flow | -$1.25B | -$1.67B | -$1.86B | -$1.40B | -$634.43M | -$283.93M | -$569.13M | -$474.52M | -$119.24M | Unavailable |
| Financing cash flow | -$247.46M | $266.83M | $684.69M | $467.37M | $246.06M | -$62.40M | $243.09M | $130.43M | $141.97M | Unavailable |
| Net change in cash | $5.37M | $738.00K | $5.67M | -$6.99M | $8.09M | -$14.64M | $13.71M | -$99.82M | $95.70M | $3.10M |
| Stock-based compensation | $15.36M | $11.97M | $5.66M | $5.66M | $3.62M | $4.12M | $7.96M | $4.00M | $3.29M | $3.46M |
| Common dividends paid | $173.40M | $161.97M | $123.94M | $51.60M | $4.94M | $0 | $0 | Unavailable | Unavailable | Unavailable |
| Common share repurchases | $57.01M | $94.50M | $8.00M | $54.50M | $0 | $0 | $15.11M | $22.20M | $0 | $0 |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $100.00K | $200.00K | $200.00K |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | 80.9% | 80.7% | 84.0% | 83.4% | 65.6% | 78.9% | 74.8% | 90.2% | 76.2% | 68.5% |
| Operating margin | 9.9% | 37.6% | 51.8% | 54.3% | 15.7% | -152.3% | 11.8% | 63.7% | 28.9% | -158.2% |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | 0.6% | 0.5% | 0.3% | 0.4% | 0.7% | 0.7% | 1.7% | 0.6% | 1.6% | 2.4% |
| Current ratio | 1.09x | 0.92x | 1.32x | 0.93x | 0.66x | 0.69x | 0.65x | 0.99x | 1.24x | 0.61x |
| Revenue YoY growth | 11.2% | 2.7% | 37.9% | 216.1% | -10.0% | 16.9% | -30.4% | 224.3% | 44.5% | Unavailable |
| Net margin | 1.6% | 23.4% | 42.6% | 49.2% | 1.3% | -164.1% | -16.2% | 21.2% | -4.4% | -202.5% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 0.1% |
| Long-term debt / equity | 1.13x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 38.2% | 23.6% | 7.8% | 0.4% | 3.5% | Unavailable | Unavailable | -0.0% | Unavailable | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open NOG in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-07View SEC filing
10-Q · Filed 2026-04-29View SEC filing
10-K · Filed 2026-02-26View SEC filing
10-Q · Filed 2025-11-07View SEC filing
10-Q · Filed 2025-08-01View SEC filing
10-Q · Filed 2025-04-30View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.