Northern Oil & Gas Inc (NOG)

Inventory turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	1,327,780	993,148	670,142	388,599	308,239
Inventory	US$ in thousands	—	0	44,269	8,838	51,766
Inventory turnover		—	—	15.14	43.97	5.95

December 31, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $1,327,780K ÷ $—K
= —

The inventory turnover of Northern Oil & Gas Inc has fluctuated over the years based on the provided data.

As of December 31, 2020, the inventory turnover ratio was 5.95, indicating that the company turned over its inventory nearly 6 times during that year. This suggests that inventory was moving relatively efficiently.

By December 31, 2021, the inventory turnover ratio significantly increased to 43.97, which is a substantial improvement. This sharp increase could imply better inventory management practices or an adjustment in the company's operations.

In the subsequent years, the ratio remained relatively stable, with a turnover ratio of 15.14 as of December 31, 2022. This level of turnover indicates that inventory was being replenished and sold at a moderate pace.

However, there is missing data for December 31, 2023, and December 31, 2024, indicating that inventory turnover for those years is not available or not applicable.

Overall, the inventory turnover ratios of Northern Oil & Gas Inc show varying levels of efficiency in managing and selling its inventory. It is important for the company to consistently monitor and optimize its inventory turnover to ensure efficient use of resources and maintain a healthy cash flow.