Northern Oil & Gas Inc (NOG)

Operating 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
Operating income (ttm)	US$ in thousands	1,121,862	805,352	1,367,551	1,402,864	853,191	875,943	298,270	-46,754	77,959	-241,083	-486,700	-1,296,488	-841,242	-775,011	-435,258	541,689	55,509	472,843	387,340	311,419
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
Operating profit margin		51.79%	46.20%	61.58%	64.18%	41.42%	43.61%	22.12%	-5.02%	15.69%	-105.84%	-338.93%	-929.64%	-134.63%	-122.28%	-53.06%	54.93%	9.07%	46.21%	43.44%	40.33%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $1,121,862K ÷ $2,166,258K
= 51.79%

Northern Oil and Gas Inc.'s operating profit margin has exhibited fluctuations over the past 8 quarters, ranging from -10.56% in Q1 2022 to a high of 64.18% in Q1 2023. The trend indicates significant volatility in the company's ability to generate profits from its core operations. The highest operating profit margin was recorded in Q1 2023, at 64.18%, suggesting a strong operational performance during that period. However, the margin decreased in the following quarters, reaching 51.79% in Q4 2023. Despite the fluctuations, the company has generally maintained a relatively healthy operating profit margin, with values above 30% in most quarters. It is important for stakeholders to closely monitor these fluctuations to understand the underlying factors influencing Northern Oil and Gas Inc.'s profitability.