Northern Oil & Gas Inc (NOG)

Short-term

Turnover ratios

Based on the provided data, we can analyze the activity ratios of Northern Oil & Gas Inc over the years:

1. Inventory Turnover Ratio:
- The inventory turnover ratio measures how efficiently a company manages its inventory. A higher ratio indicates that the company is selling its inventory quickly.
- Northern Oil & Gas Inc's inventory turnover has shown significant fluctuations over the years, ranging from 5.95 to 43.97 to 15.14. The sharp increase in 2021 followed by a decrease in 2022 suggests changes in inventory management or sales volume.

2. Receivables Turnover Ratio:
- The receivables turnover ratio reflects how efficiently a company collects its accounts receivable. A higher ratio indicates faster collection of receivables.
- The data provided shows that Northern Oil & Gas Inc did not have receivables turnover data for the years 2020 to 2024, indicating a lack of information on the company's receivables management.

3. Payables Turnover Ratio:
- The payables turnover ratio measures how quickly a company pays its suppliers. A higher ratio may indicate that the company is paying its suppliers promptly.
- The absence of payables turnover data for Northern Oil & Gas Inc for the years 2020 to 2024 suggests a lack of information about the company's payment practices to suppliers.

4. Working Capital Turnover Ratio:
- The working capital turnover ratio demonstrates how effectively a company utilizes its working capital to generate revenues. A higher ratio indicates efficient use of working capital.
- Northern Oil & Gas Inc had a working capital turnover ratio of 15.42 in 2023, suggesting that the company effectively utilized its working capital to generate sales during that year.

In conclusion, based on the available data, it appears that Northern Oil & Gas Inc has shown fluctuations in its inventory turnover ratio over the years, with limited information on receivables turnover, payables turnover, and working capital turnover. Further data and analysis would be needed to provide a more comprehensive assessment of the company's activity ratios and efficiency in managing its assets and liabilities.

---

Average number of days

Based on the provided data for Northern Oil & Gas Inc, we can analyze the activity ratios as follows:

1. Days of Inventory on Hand (DOH):
- December 31, 2020: 61.30 days
- December 31, 2021: 8.30 days
- December 31, 2022: 24.11 days
- December 31, 2023: No data provided
- December 31, 2024: No data provided

The DOH ratio indicates how many days, on average, the company holds inventory before selling it. A decreasing trend in DOH from 2020 to 2021 and then an increase in 2022 could suggest improvements in inventory management efficiency. However, the absence of data for 2023 and 2024 limits a comprehensive assessment.

2. Days of Sales Outstanding (DSO):
- No data provided for any year

The Days of Sales Outstanding ratio measures how many days, on average, it takes for a company to collect its accounts receivable. Since there is no data provided for DSO across all years, it is not possible to assess the efficiency of Northern Oil & Gas Inc in collecting its receivables.

3. Number of Days of Payables:
- No data provided for any year

The Number of Days of Payables ratio evaluates how many days, on average, a company takes to pay its trade payables. As there is no data available for payables across the years, it is not possible to analyze the company's payment practices.

In conclusion, the analysis of the activity ratios for Northern Oil & Gas Inc is limited due to the absence of data for Days of Sales Outstanding and Number of Days of Payables. The trend observed in Days of Inventory on Hand indicates fluctuations in inventory management efficiency, with improvements from 2020 to 2021 followed by an increase in 2022. Further data for future years would be essential to provide a more comprehensive analysis of the company's operational efficiency.

---

Long-term

The long-term activity ratios for Northern Oil & Gas Inc provide insights into how effectively the company is utilizing its assets to generate revenue over time.

1. Fixed Asset Turnover:
- The fixed asset turnover ratio indicates how efficiently the company is using its fixed assets to generate sales.
- Northern Oil & Gas Inc's fixed asset turnover has shown an increasing trend from 0.44 in December 2020 to 0.80 in December 2022. This suggests that the company has been able to generate more revenue from its fixed assets over this period.
- The absence of data for December 31, 2023 and December 31, 2024 limits a conclusive analysis of the company's fixed asset turnover in recent years.

2. Total Asset Turnover:
- The total asset turnover ratio measures how effectively the company is using all its assets to generate revenue.
- Northern Oil & Gas Inc's total asset turnover ratio increased from 0.37 in December 2020 to 0.69 in December 2022, indicating improved efficiency in utilizing total assets to generate sales.
- The decline in total asset turnover to 0.39 by December 2024 may raise concerns as it suggests a lower level of sales generated from total assets during that period.

Overall, the analysis of these long-term activity ratios for Northern Oil & Gas Inc suggests that the company has made improvements in utilizing both fixed and total assets to generate revenue, with fluctuations in performance over the years which may require further investigation to understand the underlying reasons.