What is Northern Oil and Gas's debt-to-assets?

Northern Oil and Gas (NOG) reported debt-to-assets of 0.5× in Q1 2026.

How has Northern Oil and Gas's debt-to-assets changed year-over-year?

Northern Oil and Gas's debt-to-assets increased by 13.6% year-over-year, from 0.4× to 0.5×.

What is the long-term trend for Northern Oil and Gas's debt-to-assets?

Over 5 years (2020 to 2025), Northern Oil and Gas's debt-to-assets has grown at a -16.4% compound annual growth rate (CAGR), from 1.1× to 0.4×.

What does debt-to-assets mean?

Total debt divided by total assets at the quarter end. Measures the share of the asset base financed by debt.

Northern Oil and Gas NOG Debt-to-assets

Debt-to-assets at other companies

Occidental PetroleumOXY

0.2×-0.1×

EOG ResourcesEOG

0.2×0.0×

Devon EnergyDVN

0.3×0.0×

FAN

Diamondback EnergyFANG

0.2×0.0×

Crescent EnergyCRGY

0.4×+0.1×

Comstock ResourcesCRK

0.4×-0.1×

Other financials

Income statement

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Revenue$5.0M-99.2%

Gross profit-$124.7M-126%

Operating income-$654.9M-386%

Net income-$522.8M-476%

EPS (diluted)-$5.31-482%

Balance sheet

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Cash & equivalents$37.0M+10.3%

Total debt$2.6B+10.4%

Total equity$1.8B-25.7%

Total assets$5.5B-2.8%

Cash flow

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Operating cash flow$323.6M-20.6%

CapEx$55.0K-90.6%

Free cash flow$323.6M-20.5%

Valuation

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Market cap$2.11B+1.9%

Enterprise value$4.63B+5.6%

P/S1.1×+0.3×

Profitability

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Gross margin74%-8.0pp

Operating margin17.3%-30.2pp

Net margin7.6%-25.8pp

FCF margin75.7%+17.1pp

Returns & leverage

See full

Return on equity8%-37.1pp

Debt / equity1.4×+0.5×

Current ratio0.5×-0.4×

Where this comes from

Calculated from Northern Oil and Gas’s reported figures.

total debt/total assets=0.5×

Based on the most recent quarter.

The official record: Northern Oil and Gas’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Northern Oil and Gas's debt-to-assets?: Northern Oil and Gas (NOG) reported debt-to-assets of 0.5× in Q1 2026.
How has Northern Oil and Gas's debt-to-assets changed year-over-year?: Northern Oil and Gas's debt-to-assets increased by 13.6% year-over-year, from 0.4× to 0.5×.
What is the long-term trend for Northern Oil and Gas's debt-to-assets?: Over 5 years (2020 to 2025), Northern Oil and Gas's debt-to-assets has grown at a -16.4% compound annual growth rate (CAGR), from 1.1× to 0.4×.
What does debt-to-assets mean?: Total debt divided by total assets at the quarter end. Measures the share of the asset base financed by debt.