Northern Oil & Gas Inc (NOG)

Activity ratios

Short-term

Turnover ratios

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
Inventory turnover — — 5.88 5.13 12.61 — — — 38.65 85.46 650.38 559.23 26.34 10.96 7.19 1.51 55.04 2.01 3.38 5.29
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
Payables turnover 4.56 2.64 3.93 4.33 4.34 2.95 2.77 3.63 5.22 6.66 12.57 33.40 38.08 64.64 22.61 6.34 5.17 1.19 1.23 0.64
Working capital turnover 17.52 — 317.16 43.16 — — — — — — — — — 47.67 31.71 8.23 — — — —

The inventory turnover ratio for Northern Oil and Gas Inc. is not provided in the data table.

The receivables turnover ratio, which indicates how efficiently the company collects its accounts receivable, shows an increasing trend over the quarters, from 4.78 in Q3 2022 to 5.80 in Q4 2023. This suggests that the company has been able to collect its receivables more quickly in recent quarters.

The payables turnover ratio, which measures how efficiently the company pays its suppliers, is consistently at 0.00 across all quarters. This may indicate that the company is not utilizing its payables effectively to manage its cash flow or negotiate favorable credit terms with suppliers.

The working capital turnover ratio, which evaluates how effectively the company generates sales revenue relative to its working capital, shows significant fluctuations between quarters. Notably, there is a substantial increase from 43.16 in Q1 2023 to 317.16 in Q2 2023, suggesting a significant improvement in the company's ability to generate sales with its current assets. However, the ratio is not available for all quarters, making it challenging to assess the overall trend accurately.

In conclusion, Northern Oil and Gas Inc. has shown improvements in its receivables turnover and working capital turnover ratios, indicating better efficiency in managing receivables and generating sales with working capital. However, the lack of data for the inventory and payables turnover ratios limits a comprehensive analysis of the company's overall working capital and operational efficiency.

Average number of days

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
Days of inventory on hand (DOH) days — — 62.11 71.10 28.95 — — — 9.44 4.27 0.56 0.65 13.86 33.31 50.77 242.51 6.63 181.67 107.99 68.98
Days of sales outstanding (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
Number of days of payables days 80.05 138.31 92.94 84.37 84.09 123.62 131.89 100.64 69.95 54.80 29.03 10.93 9.59 5.65 16.15 57.59 70.57 307.59 296.90 571.78

Northern Oil and Gas Inc.'s days of sales outstanding (DSO) decreased from 76.43 days in Q3 2022 to 62.98 days in Q4 2023, indicating that the company is collecting its accounts receivable more efficiently. However, the DSO was notably high in Q2 2022 and Q1 2022, at 153.30 days and 245.57 days respectively, suggesting a delay in receiving payments from customers during that period.

The lack of data for days of inventory on hand and number of days of payables hinders a comprehensive analysis of Northern Oil and Gas Inc.'s activity ratios. Further information on inventory turnover and payable turnover would provide a more complete picture of the company's efficiency in managing its working capital.

Long-term

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
Fixed asset turnover 0.55 0.46 0.69 0.75 0.83 1.00 0.76 0.55 0.40 0.21 0.15 0.19 0.85 0.77 0.81 0.56 0.35 0.61 0.69 0.62
Total asset turnover 0.48 0.40 0.61 0.65 0.72 0.81 0.62 0.46 0.33 0.18 0.13 0.16 0.72 0.62 0.65 0.44 0.32 0.54 0.60 0.55

Long-term activity ratios provide insights into how efficiently a company utilizes its assets to generate sales revenue.

The fixed asset turnover ratio for Northern Oil and Gas Inc. has been fluctuating over the past eight quarters, ranging from a low of 0.26 in Q1 2022 to a high of 0.75 in Q1 2023. This ratio indicates that, on average, for every dollar invested in fixed assets, the company generates between 0.26 to 0.75 dollars in sales revenue. The increasing trend from Q1 2022 to Q1 2023 suggests improved efficiency in utilizing fixed assets to generate revenue.

Total asset turnover, on the other hand, reflects how efficiently the company utilizes all its assets to generate sales. The trend for Northern Oil and Gas Inc.'s total asset turnover ratio has also been fluctuating, ranging from a low of 0.22 in Q1 2022 to a high of 0.65 in Q1 2023. This ratio indicates that, on average, for every dollar of assets, the company generates between 0.22 to 0.65 dollars in sales revenue. The increasing trend from Q1 2022 to Q1 2023 indicates that the company is becoming more efficient in utilizing its total assets to generate revenue.

In conclusion, based on the long-term activity ratios, Northern Oil and Gas Inc. has shown improvement in utilizing both fixed and total assets to generate sales revenue over the analyzed quarters, with a particularly noticeable positive trend in the total asset turnover ratio. It suggests the company's ability to operate more efficiently and effectively to generate revenue from its asset base.