Northern Oil & Gas Inc (NOG)

Gross profit margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Gross profit	US$ in thousands	835,977	913,861	1,315,660	586,493	15,830
Revenue	US$ in thousands	2,163,760	1,907,010	1,985,800	975,092	324,069
Gross profit margin		38.64%	47.92%	66.25%	60.15%	4.88%

December 31, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $835,977K ÷ $2,163,760K
= 38.64%

The gross profit margin of Northern Oil & Gas Inc has shown a significant improvement over the years, indicating enhanced operational efficiency and profitability.

In December 31, 2020, the gross profit margin was relatively low at 4.88%, reflecting lower profitability compared to the following years.

By December 31, 2021, there was a substantial increase in the gross profit margin to 60.15%, signaling a notable improvement in the company's ability to generate profits from its core business activities.

This positive trend continued in the subsequent years, with the gross profit margin reaching 66.25% by December 31, 2022, demonstrating a further strengthening of the company's profitability margins.

In December 31, 2023, there was a slight decrease in the gross profit margin to 47.92%, which could be attributed to various factors such as changes in costs or pricing strategies.

Finally, by December 31, 2024, the gross profit margin decreased further to 38.64%, indicating a slight decline in profitability compared to the previous year.

Overall, the analysis of Northern Oil & Gas Inc's gross profit margin shows a positive trajectory with fluctuations, highlighting the company's ability to effectively manage costs and generate profits from its operations.