Northern Oil & Gas Inc (NOG)

Return on assets (ROA)

		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
Net income (ttm)	US$ in thousands	520,306	837,461	565,126	594,385	922,970	679,185	1,236,539	1,319,988	773,237	802,896	231,985	-109,842	6,361	-310,489	-556,047	-1,364,684	-906,041	-871,857	-544,472	399,127
Total assets	US$ in thousands	5,603,820	5,055,330	4,724,660	4,633,800	4,484,260	4,304,670	3,664,750	3,342,870	2,875,180	2,471,480	2,192,240	2,024,470	1,522,870	1,244,060	1,091,810	873,243	872,089	1,025,520	1,263,270	2,237,390
ROA		9.28%	16.57%	11.96%	12.83%	20.58%	15.78%	33.74%	39.49%	26.89%	32.49%	10.58%	-5.43%	0.42%	-24.96%	-50.93%	-156.28%	-103.89%	-85.02%	-43.10%	17.84%

December 31, 2024 calculation

ROA = Net income (ttm) ÷ Total assets
= $520,306K ÷ $5,603,820K
= 9.28%

Northern Oil & Gas Inc's return on assets (ROA) has shown fluctuations over the past few years. The data indicates that the company's ROA was consistently negative from June 30, 2020, to June 30, 2021, reaching its lowest point at -156.28% on March 31, 2021. This suggests that during this period, the company's net income was insufficient to cover its total assets, indicating inefficiency in asset utilization.

However, starting from June 30, 2021, the ROA improved, showing a positive trend with some variations. The ROA increased to 10.58% on June 30, 2022, and continued to rise gradually, reaching 20.58% on December 31, 2023. This positive trend indicates that the company's profitability in relation to its assets improved over this period.

The most recent data as of December 31, 2024, shows Northern Oil & Gas Inc's ROA at 9.28%. While this is a positive figure, it is slightly lower compared to the peak ROA observed earlier. Overall, the company has managed to enhance its efficiency in generating profits relative to its assets but may need to sustain this positive trend to ensure long-term financial health.