Northern Oil & Gas Inc (NOG)

Total asset 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
Revenue (ttm)	US$ in thousands	2,129,538	1,925,152	1,723,637	1,578,228	1,471,907	1,606,963	1,827,040	1,957,898	1,985,798	1,872,524	1,598,144	1,274,218	975,092	742,234	556,247	351,197	324,069	385,263	469,572	598,754
Total assets	US$ in thousands	5,603,820	5,055,330	4,724,660	4,633,800	4,484,260	4,304,670	3,664,750	3,342,870	2,875,180	2,471,480	2,192,240	2,024,470	1,522,870	1,244,060	1,091,810	873,243	872,089	1,025,520	1,263,270	2,237,390
Total asset turnover		0.38	0.38	0.36	0.34	0.33	0.37	0.50	0.59	0.69	0.76	0.73	0.63	0.64	0.60	0.51	0.40	0.37	0.38	0.37	0.27

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,129,538K ÷ $5,603,820K
= 0.38

Northern Oil & Gas Inc's total asset turnover ratio has shown fluctuations over the past few years. The ratio increased from 0.27 in March 2020 to a peak of 0.76 in September 2022. This indicates that the company generated $0.76 in revenue for every $1 of assets during that period.

However, from September 2022 onwards, the total asset turnover ratio started to decline. It decreased to 0.38 by December 2024. This may suggest that the company's efficiency in generating revenue from its total assets has decreased in recent years.

Overall, the trend in Northern Oil & Gas Inc's total asset turnover ratio points to varying levels of asset utilization efficiency over the analyzed period, with both peaks and troughs in performance. Further analysis would be required to understand the factors driving these fluctuations and the company's efforts to improve its asset turnover efficiency.