Northern Oil & Gas Inc (NOG)

Debt-to-equity ratio

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Long-term debt US$ in thousands 1,835,550 1,525,410 803,437 879,843 1,118,160
Total stockholders’ equity US$ in thousands 2,047,680 745,260 215,135 -223,304 558,643
Debt-to-equity ratio 0.90 2.05 3.73 2.00

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,835,550K ÷ $2,047,680K
= 0.90

The debt-to-equity ratio for Northern Oil and Gas Inc. has been showing a decreasing trend over the past few years, from 3.73 in 2021 to 0.90 in 2023. This indicates that the company has been reducing its reliance on debt to finance its operations and is moving towards a more balanced capital structure. The significant drop in the ratio from 2021 to 2023 demonstrates a substantial improvement in the company's financial leverage and risk management. This decline in the ratio suggests that the company is becoming less leveraged and may have improved its financial stability. Overall, the decreasing trend in the debt-to-equity ratio reflects positively on the company's financial health and management of its capital structure.


Peer comparison

Dec 31, 2023