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Northern Oil and Gas NOG Operating margin

Operating margin at other companies

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29.8%-3.2pp
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35.5%-8.2pp
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9.1%-10.0pp
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30.3%+28.4pp
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10.7%-9.8pp
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3.6%-18.0pp

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
Net margin7.6%-25.8pp
FCF margin75.7%+17.1pp

Returns & leverage

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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.

Based on trailing twelve months.

The official record: Northern Oil and Gas’s 10-Q, filed November 7, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Northern Oil and Gas's operating margin?
Northern Oil and Gas (NOG) reported operating margin of 17.3% in Q3 2025.
How has Northern Oil and Gas's operating margin changed year-over-year?
Northern Oil and Gas's operating margin decreased by 63.5% year-over-year, from 47.5% to 17.3%.
What is the long-term trend for Northern Oil and Gas's operating margin?
Over 4 years (2020 to 2024), Northern Oil and Gas's operating margin has grown at a -29.5% compound annual growth rate (CAGR), from -152.3% to 37.6%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.