Northern Oil & Gas Inc (NOG)

Gross profit margin

		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
Gross profit (ttm)	US$ in thousands	1,287,750	1,122,633	1,615,896	1,604,834	1,012,425	1,098,084	467,981	73,743	155,329	-211,202	-474,914	-1,295,451	-811,175	-503,374	-130,388	868,011	365,781	749,964	637,313	533,963
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
Gross profit margin		59.45%	64.40%	72.76%	73.42%	49.15%	54.67%	34.70%	7.91%	31.26%	-92.72%	-330.72%	-928.90%	-129.82%	-79.42%	-15.89%	88.02%	59.77%	73.29%	71.47%	69.16%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,287,750K ÷ $2,166,258K
= 59.45%

Northern Oil and Gas Inc. has consistently maintained a gross profit margin of 100% across all quarters in the provided data. A gross profit margin of 100% indicates that the company is able to recover all its production costs from sales, resulting in no cost of goods sold and pure profit from its operations. This high level of gross profit margin could be attributed to efficient cost management, effective pricing strategies, or a combination of both. It is a positive sign of the company's ability to generate revenue and manage its production costs effectively.