SequelSEC

NORTHERN OIL & GAS, INC. NOG

Crude Petroleum & Natural Gas · CIK 0001104485 · Fiscal year ends 1231

Revenue
$1.92B
Fiscal year ended 2026-06-30
Operating income
-$461.95M
Fiscal year ended 2026-06-30
Free cash flow
Unavailable
Fiscal year ended 2026-06-30

Valuation, from the filing

Public float$2.70BMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float per share$27.75Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / net income69.7×A lower bound on the multiple, because affiliate holdings are excluded.
Float / revenue1.1×A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity1.3×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

Valuation over time

69.7× earnings today, against a median of 5.6× across 6 years on record. Above its own history.

Float measuredPublic floatFloat / net income
2025-06-30$2.70B69.7×
2024-06-30$3.60B6.9×
2023-06-30$3.10B3.4×
2022-06-30$1.90B2.5×
2021-06-30$1.10B172.9×
2018-06-30$606.10M4.2×

Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.

How this compares in its industry

Percentile among the Crude Petroleum & Natural Gas filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
Effective tax rate38.2%89th
Long-term debt / equity1.13x86th
SBC / revenue0.6%23th
Current ratio1.09x66th
Revenue YoY growth11.2%65th
Gross margin80.9%58th
Operating margin9.9%54th
Net margin1.6%46th

NORTHERN OIL & GAS, INC. (NOG) reported revenue of $1.92B and net income of -$486.02M for the fiscal year ended 2026-06-30. This page shows 1 annual period 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

NORTHERN OIL & GAS, INC. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-06-30
Revenue$1.92B
Cost of revenue$495.03M
Gross profit$1.42B
Operating income-$461.95M
Net income-$486.02M
Research & developmentUnavailable
Weighted-average diluted sharesUnavailable
Pretax income-$640.18M
Income tax expense-$154.16M
Diluted EPSUnavailable
Selling, general & administrativeUnavailable
General & administrative$78.93M
Selling & marketingUnavailable

Balance

NORTHERN OIL & GAS, INC. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-06-30
Cash & equivalents$47.60M
Total assets$5.83B
Current assets$502.10M
Total liabilities$3.83B
Current liabilities$630.49M
Total equity incl. NCI$2.00B
Temporary (mezzanine) equityUnavailable
InventoryUnavailable
Accounts receivable$377.82M
GoodwillUnavailable
Long-term debt$2.72B
Accounts payable$206.28M

Cash flow

NORTHERN OIL & GAS, INC. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-06-30
Operating cash flow$1.38B
Capital expendituresUnavailable
Investing cash flow-$1.68B
Financing cash flow$321.38M
Net change in cash$21.75M
Stock-based compensation$16.13M
Common dividends paid$179.25M
Common share repurchases$57.05M
Depreciation & amortizationUnavailable

Derived

NORTHERN OIL & GAS, INC. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-06-30
Free cash flowUnavailable
Gross margin74.2%
Operating margin-24.1%
FCF marginUnavailable
SBC / revenue0.8%
Current ratio0.80x
Revenue YoY growth-25.6%
Net margin-25.4%
R&D / revenueUnavailable
CapEx / revenueUnavailable
Long-term debt / equity1.37x
Effective tax rateUnavailable

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

Companies in the same industry

Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.