Northern Oil & Gas Inc (NOG)
Working capital 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 current assets | US$ in thousands | 500,743 | 518,923 | 413,667 | 412,796 | 509,407 | 469,626 | 385,753 | 395,941 | 320,485 | 376,694 | 382,795 | 323,456 | 215,328 | 167,583 | 139,664 | 102,424 | 125,629 | 183,749 | 205,094 | 354,847 |
| Total current liabilities | US$ in thousands | 544,270 | 420,288 | 465,569 | 428,010 | 385,761 | 602,491 | 378,751 | 345,300 | 344,972 | 381,746 | 635,932 | 625,529 | 327,557 | 355,172 | 300,837 | 155,968 | 182,475 | 170,455 | 179,220 | 235,078 |
| Working capital turnover | — | 19.52 | — | — | 11.90 | — | 260.93 | 38.66 | — | — | — | — | — | — | — | — | — | 28.98 | 18.15 | 5.00 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,129,538K ÷ ($500,743K – $544,270K)
= —
The working capital turnover ratio for Northern Oil & Gas Inc has shown fluctuations over the periods indicated. In March 2020, the ratio was 5.00, indicating that the company generated $5 in revenue for every $1 of working capital. This ratio increased significantly to 18.15 by June 2020, suggesting improved efficiency in utilizing its working capital.
By September 2020, the working capital turnover ratio surged to 28.98, reflecting a substantial increase in revenue generated per unit of working capital. However, data for the following quarters up to March 2021 is not available, indicating a lack of information.
In March 2023, the ratio spiked to 38.66, reaching a peak in June 2023 at an impressive 260.93. Such sharp increases may indicate either efficient management of working capital or an exceptional increase in revenue.
The ratio dipped to 11.90 by December 2023, showing a significant decline in efficiency in utilizing working capital. Further data is missing until September 2024, where the ratio rebounded to 19.52, suggesting a partial recovery in effectively using working capital.
Overall, Northern Oil & Gas Inc's working capital turnover has exhibited significant fluctuations, indicating varying efficiency levels in managing its working capital to generate revenue. Management should monitor this ratio closely to ensure optimal utilization of resources.
Peer comparison
Dec 31, 2024