Northern Oil & Gas Inc (NOG)

Inventory turnover

		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
Cost of revenue (ttm)	US$ in thousands	1,327,783	1,263,057	1,214,282	1,116,137	993,146	881,793	800,064	735,427	670,144	600,786	523,113	451,956	388,601	340,167	302,995	276,185	308,239	353,224	394,647	415,593
Inventory	US$ in thousands	—	—	0	0	0	-456,674	102,923	113,141	44,269	0	—	—	8,838	5,137	951	2,436	51,766	120,182	157,224	246,119
Inventory turnover		—	—	—	—	—	—	7.77	6.50	15.14	—	—	—	43.97	66.22	318.61	113.38	5.95	2.94	2.51	1.69

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,327,783K ÷ $—K
= —

The inventory turnover ratio for Northern Oil & Gas Inc has varied significantly over the years, indicating changes in the efficiency of managing its inventory.

From March 31, 2020, to December 31, 2021, the inventory turnover ratio showed a significant improvement, rising from 1.69 to 43.97. This suggests that the company was able to sell its inventory more frequently during this period.

However, there was a dramatic spike in the inventory turnover ratio to 318.61 as of June 30, 2021. This exceptionally high ratio could indicate either a significant increase in sales or a decrease in the average inventory levels during that period.

Subsequently, the inventory turnover ratio dropped to 15.14 by December 31, 2022, signaling a potential slowdown in inventory management efficiency.

As of March 31, 2023, the inventory turnover ratio improved to 6.50, but this is still lower compared to previous high levels.

Overall, fluctuations in the inventory turnover ratio of Northern Oil & Gas Inc indicate varying levels of efficiency in managing its inventory. A high inventory turnover ratio may imply good sales performance or effective inventory management, while a low ratio could signal overstocking or slow sales. Monitoring and interpreting these trends can provide insights into the company's operational performance and potential challenges in inventory management.