Northern Oil & Gas Inc (NOG)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	1,121,860	853,192	77,959	-841,243	55,509
Revenue	US$ in thousands	2,166,260	1,570,540	496,899	552,210	472,402
Operating profit margin		51.79%	54.32%	15.69%	-152.34%	11.75%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $1,121,860K ÷ $2,166,260K
= 51.79%

The operating profit margin of Northern Oil and Gas Inc. has varied over the past five years. In 2023, the operating profit margin was 51.79%, indicating that the company generated a relatively high level of profitability from its core operations. This was a slight decrease from 2022 when the operating profit margin was 54.32%.

In 2021, the operating profit margin was 15.69%, significantly lower than the two previous years, suggesting a potential decline in operational efficiency or increased expenses relative to revenue. The margin then increased to 40.82% in 2020, showing a positive trend in profitability compared to the previous year.

The operating profit margin was 13.10% in 2019, indicating a lower level of profitability compared to the later years analyzed. Overall, the fluctuation in Northern Oil and Gas Inc.'s operating profit margin over the period reflects changes in the company's ability to control costs, manage expenses, and generate profits from its core business activities.