Northern Oil & Gas Inc (NOG)
Quick ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 8,933 | 8,195 | 2,528 | 9,519 | 1,428 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 544,270 | 385,761 | 344,972 | 327,557 | 182,475 |
| Quick ratio | 0.02 | 0.02 | 0.01 | 0.03 | 0.01 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($8,933K
+ $—K
+ $—K)
÷ $544,270K
= 0.02
The quick ratio of Northern Oil & Gas Inc has shown fluctuations over the past five years. As of December 31, 2020, the quick ratio was extremely low at 0.01, indicating the company may have had difficulties meeting its short-term obligations with its most liquid assets.
However, there was a slight improvement by December 31, 2021, with the quick ratio increasing to 0.03. This could suggest a better ability to cover short-term liabilities with the liquid assets available.
The quick ratio decreased again by December 31, 2022, to 0.01, potentially signaling a return to a precarious position regarding short-term liquidity.
Subsequently, by December 31, 2023, there was a slight improvement to 0.02 in the quick ratio, implying a slightly strengthened ability to meet short-term obligations with available liquid assets.
As of the most recent data on December 31, 2024, the quick ratio remained at 0.02. While this ratio has not changed significantly, it indicates that Northern Oil & Gas Inc may still face challenges in promptly meeting its short-term financial obligations with its quick assets.
Peer comparison
Dec 31, 2024