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Northern Oil and Gas NOG Debt-to-equity

Debt-to-equity at other companies

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0.5×-0.3×
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0.3×+0.1×
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0.6×-0.1×
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0.4×0.0×
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1.1×-0.4×

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

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Return on equity8%-37.1pp
Current ratio0.5×-0.4×

Where this comes from

Calculated from Northern Oil and Gas’s reported figures.

total debt/total stockholders equity=1.4×

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-equity?
Northern Oil and Gas (NOG) reported debt-to-equity of 1.4× in Q1 2026.
How has Northern Oil and Gas's debt-to-equity changed year-over-year?
Northern Oil and Gas's debt-to-equity increased by 48.7% year-over-year, from 1× to 1.4×.
What is the long-term trend for Northern Oil and Gas's debt-to-equity?
Over 4 years (2021 to 2025), Northern Oil and Gas's debt-to-equity has grown at a -25.9% compound annual growth rate (CAGR), from 3.7× to 1.1×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.