Northern Oil & Gas Inc (NOG)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 1,165,633 | 662,095 | 509,355 | 462,091 | 478,761 | 725,170 | 1,026,976 | 1,222,471 | 1,315,654 | 1,271,738 | 1,075,031 | 822,262 | 586,491 | 402,067 | 253,252 | 75,012 | 15,830 | 32,039 | 74,925 | 183,161 |
| Revenue (ttm) | US$ in thousands | 2,129,538 | 1,925,152 | 1,723,637 | 1,578,228 | 1,471,907 | 1,606,963 | 1,827,040 | 1,957,898 | 1,985,798 | 1,872,524 | 1,598,144 | 1,274,218 | 975,092 | 742,234 | 556,247 | 351,197 | 324,069 | 385,263 | 469,572 | 598,754 |
| Gross profit margin | 54.74% | 34.39% | 29.55% | 29.28% | 32.53% | 45.13% | 56.21% | 62.44% | 66.25% | 67.92% | 67.27% | 64.53% | 60.15% | 54.17% | 45.53% | 21.36% | 4.88% | 8.32% | 15.96% | 30.59% |
December 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,165,633K ÷ $2,129,538K
= 54.74%
Northern Oil & Gas Inc's gross profit margin has exhibited significant fluctuations over the given period. Starting at a relatively healthy 30.59% in March 2020, the margin declined to 15.96% by June 2020 and continued to decrease to a low of 4.88% by December 2020. However, there was a notable recovery in the following quarters, with the margin increasing to 67.27% by June 2022.
Throughout 2022 and early 2023, the company maintained a gross profit margin above 60%, indicating strong performance in managing production costs and generating revenue. However, there was a noticeable decline in the margin from March 2023 to December 2024, dropping to 29.28% by March 2024 before rebounding to 54.74% by December 2024.
Overall, Northern Oil & Gas Inc's gross profit margin has displayed volatility, showing both periods of strong performance and challenges in maintaining profitability. It is essential for the company to closely monitor its cost structure and revenue generation to sustain healthy margins and profitability in the future.
Peer comparison
Dec 31, 2024