Northern Oil & Gas Inc (NOG)

Pretax 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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	1,000,744	698,171	1,277,549	1,322,992	776,338	806,258	234,014	-108,819	6,595	-310,489	-556,047	-1,364,684	-906,207	-872,021	-544,636	398,963	-76,319	249,855	174,453	33,507
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
Pretax margin		46.20%	40.05%	57.53%	60.53%	37.69%	40.14%	17.35%	-11.68%	1.33%	-136.31%	-387.22%	-978.54%	-145.03%	-137.59%	-66.39%	40.46%	-12.47%	24.42%	19.56%	4.34%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,000,744K ÷ $2,166,258K
= 46.20%

The pretax margin of Northern Oil and Gas Inc. has been fluctuating over the past eight quarters. The company experienced a significant increase in Q2 2023 with a pretax margin of 57.53%, followed by a slight decrease in Q3 2023 to 40.05%. However, the pretax margin rebounded in Q4 2023 to 46.20%.

Comparing these recent quarters to the same periods in the previous year, it is evident that the company's performance has been inconsistent. Notably, in Q1 2022 and Q2 2022, the pretax margin was quite low at 27.24% and even negative at -24.59% in Q1 2022.

It is important for Northern Oil and Gas Inc. to closely monitor its pretax margin to ensure sustainable profitability and financial stability in the long term.