Northern Oil & Gas Inc (NOG)
Days of inventory on hand (DOH)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | — | — | — | — | — | — | 7.77 | 6.50 | 15.14 | — | — | — | 43.97 | 66.22 | 318.61 | 113.38 | 5.95 | 2.94 | 2.51 | 1.69 | |
| DOH | days | — | — | — | — | — | — | 46.95 | 56.15 | 24.11 | — | — | — | 8.30 | 5.51 | 1.15 | 3.22 | 61.30 | 124.19 | 145.41 | 216.16 |
December 31, 2024 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ —
= —
The days of inventory on hand (DOH) ratio for Northern Oil & Gas Inc has shown significant fluctuations over the past few quarters.
In March 2020, DOH was reported at a high level of 216.16 days, indicating that the company held inventory for an extended period before selling it. However, by December 2020, the DOH decreased sharply to 61.30 days, suggesting that the company managed to reduce its inventory holding period, possibly through more efficient inventory management practices.
The trend continued in the following quarters, with DOH dropping to extremely low levels by March and June 2021, at 3.22 days and 1.15 days, respectively. This indicates that Northern Oil & Gas was rapidly turning over its inventory and selling off products quickly.
However, there was a slight increase in DOH by September and December 2021, rising to 5.51 days and 8.30 days, respectively. This may suggest some slowdown in inventory turnover during these periods, which could be due to various factors such as changes in demand, supply chain disruptions, or production issues.
Looking ahead, as of the latest available data in March 2024, the DOH has increased to 56.15 days. This rise may indicate that Northern Oil & Gas is currently holding inventory for a longer period compared to the previous quarters, which could potentially impact cash flow and working capital.
It will be important for stakeholders to monitor future DOH figures to assess if Northern Oil & Gas is effectively managing its inventory levels to strike a balance between meeting customer demand and minimizing holding costs.
Peer comparison
Dec 31, 2024