Northern Oil & Gas Inc (NOG)

Return on assets (ROA)

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
Net income (ttm) US$ in thousands 922,970 679,185 1,236,539 1,319,988 773,237 802,897 231,986 -109,841 6,362 -310,489 -556,047 -1,364,684 -906,041 -871,855 -544,470 399,129 -76,319 249,910 174,508 33,562
Total assets US$ in thousands 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 1,905,460 1,902,010 1,494,390 1,395,780
ROA 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% -4.01% 13.14% 11.68% 2.40%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $922,970K ÷ $4,484,260K
= 20.58%

In analyzing Northern Oil and Gas Inc.'s return on assets (ROA) over the past eight quarters, we observe fluctuations in the company's efficiency in generating profits relative to its total assets. The ROA has been varying significantly during this period.

- In Q1 2023, Northern Oil and Gas Inc. demonstrated a high ROA of 38.66%, indicating strong profitability relative to its assets.
- This was followed by a moderately lower ROA of 33.35% in Q2 2023, still reflecting robust profitability.
- The ROA experienced a slight decline to 15.50% in Q3 2023, which may raise concerns about the company's asset utilization efficiency.
- Despite the decrease, Northern Oil and Gas Inc. achieved a rebound in Q4 2023 with an ROA of 20.58%, although it remained below the levels seen earlier in the year.

Looking back further:
- The ROA in Q4 2022 was 25.31%, showing a favorable profitability trend.
- Prior to that, Q3 and Q2 of 2022 depicted even higher ROA figures of 30.97% and 8.83%, respectively.
- However, in Q1 2022, the company experienced a negative ROA of -6.85%, which suggests inefficiency in generating profits relative to its assets during that period.

Overall, the fluctuating ROA values indicate varying levels of efficiency in utilizing assets to generate earnings for Northern Oil and Gas Inc. It is crucial for stakeholders to monitor these trends closely to assess the company's operational performance and financial health.