Northern Oil & Gas Inc (NOG)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,163,760 | 1,907,010 | 1,985,800 | 975,092 | 324,069 |
| Total assets | US$ in thousands | 5,603,820 | 4,484,260 | 2,875,180 | 1,522,870 | 872,089 |
| Total asset turnover | 0.39 | 0.43 | 0.69 | 0.64 | 0.37 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,163,760K ÷ $5,603,820K
= 0.39
Northern Oil & Gas Inc's total asset turnover has exhibited fluctuations over the past five years. The ratio increased steadily from 0.37 in December 31, 2020, to 0.69 in December 31, 2022, indicating more efficient utilization of assets to generate revenue during this period. However, there was a slight decline to 0.43 in December 31, 2023, followed by a further decrease to 0.39 in December 31, 2024.
These fluctuations suggest that Northern Oil & Gas Inc may have experienced changes in how effectively it is utilizing its assets to generate revenue. Further analysis and comparison with industry benchmarks could provide insights into the company's efficiency and its ability to generate sales from its total assets.
Peer comparison
Dec 31, 2024