Northern Oil & Gas Inc (NOG)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		—	12.61	38.65	26.34	55.04
DOH	days	—	28.95	9.44	13.86	6.63

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ —
= —

To analyze Northern Oil and Gas Inc.'s days of inventory on hand (DOH) over the past five years, it is first noted that there are missing values in the provided table. This may indicate incomplete data or varying reporting practices.

Days of Inventory on Hand (DOH) is a measure of how many days it takes a company to sell its average inventory balance. A lower DOH usually indicates that the company is efficient in managing its inventory, while a higher DOH may suggest inefficiencies or excessive inventory levels.

Without specific values for each year, a trend analysis cannot be conducted to assess the company's performance over time. However, if data were available, a decreasing trend in DOH from year to year would generally be a positive sign, indicating improved inventory management efficiency. Conversely, an increasing trend in DOH could raise concerns about potential inventory obsolescence or overstocking.

It is important for stakeholders and investors to have access to complete and accurate financial data, including inventory metrics, to make informed decisions about the company's operational effectiveness and financial health. Further analysis and comparison with industry averages or competitors may provide additional insights into Northern Oil and Gas Inc.'s inventory management practices.