Northern Oil & Gas Inc (NOG)

Days of sales outstanding (DSO)

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Receivables turnover		5.80	4.80	8.36	7.97	7.58	6.31	3.74	3.13	2.57	1.44	1.09	1.47	8.80	10.55	18.72	10.06	5.64	9.87	10.12	8.42
DSO	days	62.98	76.12	43.64	45.82	48.14	57.81	97.67	116.61	142.18	253.25	333.40	248.12	41.48	34.59	19.50	36.27	64.70	36.97	36.06	43.36

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 5.80
= 62.98

The days of sales outstanding (DSO) for Northern Oil and Gas Inc. have fluctuated over the past eight quarters. In Q1 2022, the DSO was relatively high at 245.57 days, indicating that it took the company a longer time to collect its accounts receivable. Subsequently, there was a significant decrease in DSO in Q2 2022 to 153.30 days, reflecting an improvement in the company's collection efficiency.

However, the DSO increased again in Q3 2022 and Q4 2022 to 76.43 days and 63.14 days, respectively, suggesting a potential slowdown in the collection process. This trend continued into Q1 2023, with a DSO of 45.82 days, which is a notable improvement from the previous quarters.

In Q2 2023, there was a further decrease in DSO to 43.64 days, indicating that the company was able to collect its accounts receivable more quickly. However, Q3 2023 saw a slight increase to 76.12 days, suggesting a potential delay in collections compared to the previous quarter.

Overall, Northern Oil and Gas Inc. has shown fluctuations in its DSO over the past eight quarters, with periods of improvement followed by slight setbacks. Analyzing the DSO trend can provide insights into the company's accounts receivable management and overall efficiency in collecting sales revenue.