Northern Oil & Gas Inc (NOG)

Working capital turnover

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
Revenue (ttm) US$ in thousands 2,166,258 1,743,120 2,220,787 2,185,679 2,059,923 2,008,734 1,348,601 931,960 496,899 227,784 143,599 139,461 624,849 633,787 820,348 986,121 612,025 1,023,318 891,704 772,110
Total current assets US$ in thousands 509,407 469,626 385,753 395,941 320,485 376,694 382,795 323,456 215,328 167,583 139,664 102,424 125,629 183,749 205,094 354,847 133,037 172,110 133,068 126,461
Total current liabilities US$ in thousands 385,761 602,491 378,751 345,300 344,972 381,746 635,932 625,529 327,557 355,172 300,837 155,968 182,475 170,455 179,220 235,078 203,477 230,824 232,726 226,054
Working capital turnover 17.52 — 317.16 43.16 — — — — — — — — — 47.67 31.71 8.23 — — — —

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,166,258K ÷ ($509,407K – $385,761K)
= 17.52

Northern Oil and Gas Inc.'s working capital turnover has shown significant volatility over the past eight quarters. In Q4 2023, the working capital turnover stood at an impressive 17.52, indicating that the company efficiently utilized its working capital to generate revenue during that period. However, it is worth noting that there is missing data for Q3 2023, which makes it challenging to track the trend more accurately.

The working capital turnover in Q2 2023 spiked significantly to 317.16, suggesting a substantial improvement in the efficiency of the company in turning its working capital into revenue. This exceptional performance may be attributed to effective management of current assets and liabilities during the period. On the other hand, in Q1 2023, the working capital turnover dropped to 43.16, indicating a decrease in the efficiency of working capital utilization compared to the previous quarter.

There is no available data for working capital turnover in the previous quarters of Q4 2022, Q3 2022, Q2 2022, and Q1 2022, which limits the ability to provide a more comprehensive trend analysis. In conclusion, while the data suggests some periods of strong performance, the lack of complete data hinders a full assessment of Northern Oil and Gas Inc.'s working capital turnover trend over the past two years.