Northern Oil & Gas Inc (NOG)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 8,933 | 34,356 | 7,778 | 32,468 | 8,195 | 12,952 | 14,805 | 6,073 | 2,528 | 9,129 | 1,471 | 3,335 | 9,519 | 2,006 | 4,843 | 2,729 | 1,428 | 1,803 | 1,838 | 8,512 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Quick ratio | 0.02 | 0.08 | 0.02 | 0.08 | 0.02 | 0.02 | 0.04 | 0.02 | 0.01 | 0.02 | 0.00 | 0.01 | 0.03 | 0.01 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.04 |
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 few years. The quick ratio measures a company's ability to meet its short-term liabilities with its most liquid assets, excluding inventory. With a quick ratio below 1, the company may have difficulty meeting its short-term obligations.
On March 31, 2020, the quick ratio was at 0.04, indicating that the company had $0.04 in liquid assets for every $1 of current liabilities. The ratio decreased to 0.01 by June 30, 2020, remaining low until March 31, 2021, when it slightly improved to 0.02. The company maintained a quick ratio of around 0.01 to 0.03 through December 31, 2021.
From March 31, 2022, to June 30, 2022, the quick ratio dropped to 0.00, which may raise concerns about the company's liquidity position. However, the ratio recovered slightly to 0.02 by September 30, 2022, and remained at 0.02 until March 31, 2024.
The quick ratio experienced a significant increase to 0.08 on March 31, 2024, suggesting that the company had improved its ability to cover short-term obligations with liquid assets. Subsequently, the ratio fluctuated around 0.02 to 0.08 until December 31, 2024.
Overall, the quick ratio of Northern Oil & Gas Inc has been volatile, indicating fluctuations in the company's liquidity position over the analyzed periods. Investors and stakeholders should closely monitor these trends to assess the company's ability to meet its short-term financial obligations.
Peer comparison
Dec 31, 2024