Northern Oil & Gas Inc (NOG)

Return on equity (ROE)

		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 stockholders’ equity	US$ in thousands	2,047,680	1,407,790	1,415,800	1,048,070	745,260	709,097	152,650	-35,302	215,135	-157,710	-168,217	-180,682	-223,304	-83,731	140,729	1,009,010	558,643	514,114	389,649	312,760
ROE		45.07%	48.24%	87.34%	125.94%	103.75%	113.23%	151.97%	—	2.96%	—	—	—	—	—	-386.89%	39.56%	-13.66%	48.61%	44.79%	10.73%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $922,970K ÷ $2,047,680K
= 45.07%

Based on the provided data for Northern Oil and Gas Inc.'s return on equity (ROE) over the past eight quarters, the company's ROE has exhibited significant fluctuations. ROE is a key profitability ratio that measures a company's efficiency in generating profits from the shareholders' equity invested in the business.

In Q1 2022, the ROE was not reported, but in subsequent quarters, the ROE saw substantial increases, peaking at 123.32% in Q1 2023. This surge in ROE indicates that the company was able to efficiently utilize shareholder funds to generate profits during this period.

However, in the most recent quarters, the ROE has shown a decreasing trend, with Q4 2023 recording an ROE of 45.07%. This decline may raise concerns about the company's ability to maintain its past levels of profitability and efficiency in generating returns for its shareholders.

Overall, Northern Oil and Gas Inc.'s ROE performance has been volatile, with periods of high profitability followed by declines. Investors and stakeholders may want to further investigate the factors driving these fluctuations in ROE to assess the company's financial health and sustainability.