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Northern Oil and Gas NOG Return on invested capital

Return on invested capital at other companies

Occidental Petroleum logo
Occidental PetroleumOXY
2.8%-2.9pp
EOG Resources logo
EOG ResourcesEOG
17.6%-4.0pp
Devon Energy logo
Devon EnergyDVN
9.6%-3.9pp
FAN
Diamondback EnergyFANG
8.4%-0.6pp
Crescent Energy logo
Crescent EnergyCRGY
6.2%+3.4pp
Comstock Resources logo
Comstock ResourcesCRK
9.2%+8.7pp

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
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 return on invested capital?
Northern Oil and Gas (NOG) reported return on invested capital of 7.2% in Q3 2025.
How has Northern Oil and Gas's return on invested capital changed year-over-year?
Northern Oil and Gas's return on invested capital decreased by 71.2% year-over-year, from 24.9% to 7.2%.
What is the long-term trend for Northern Oil and Gas's return on invested capital?
Over 4 years (2020 to 2024), Northern Oil and Gas's return on invested capital has grown at a -32.2% compound annual growth rate (CAGR), from -70.7% to 15%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.