Northern Oil & Gas Inc (NOG)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	1,287,750	1,012,430	155,328	-811,175	113,458
Revenue	US$ in thousands	2,166,260	1,570,540	496,899	552,210	472,402
Gross profit margin		59.45%	64.46%	31.26%	-146.90%	24.02%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $1,287,750K ÷ $2,166,260K
= 59.45%

Based on the data provided, Northern Oil and Gas Inc. has maintained a consistent gross profit margin of 100.00% for the past five years, indicating that the company is effectively controlling its production costs and generating healthy profits from its operations. The high gross profit margin suggests that Northern Oil and Gas Inc. is efficiently managing its production processes and pricing strategies to generate significant profits relative to its cost of goods sold. This stability in gross profit margin over the years reflects the company's ability to maintain profitability and potentially indicates a strong competitive position within the industry.