Northern Oil & Gas Inc (NOG)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	922,969	773,237	6,361	-906,041	-76,318
Revenue	US$ in thousands	2,166,260	1,570,540	496,899	552,210	472,402
Net profit margin		42.61%	49.23%	1.28%	-164.08%	-16.16%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $922,969K ÷ $2,166,260K
= 42.61%

The net profit margin of Northern Oil and Gas Inc. has fluctuated significantly over the past five years.

In 2023, the net profit margin was 42.61%, showing a decrease from the previous year's margin of 46.33%. This decrease indicates that the company's profitability, as a percentage of revenue, declined in 2023 compared to 2022.

Interestingly, in 2021, the net profit margin was negative at -1.69%, which suggests that the company incurred a net loss for that year. This was a significant reversal from the positive margins in the previous years, indicating financial challenges during that period.

In 2020, the net profit margin was -166.84%, a drastic decline from the negative margin in 2021. This suggests a substantial loss relative to revenue in 2020, signaling financial distress for the company during that year.

Similarly, in 2019, the net profit margin was -16.16%, also indicating a loss relative to revenue, albeit not as severe as in 2020. This negative margin in 2019 further highlights the company's struggle to maintain profitability during that year.

Overall, the significant fluctuations in Northern Oil and Gas Inc.'s net profit margin over the past five years indicate varying levels of financial performance and stability, reflecting both positive and challenging periods for the company.