Northern Oil & Gas Inc (NOG)

Debt-to-equity ratio

		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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	2,320,440	2,313,500	2,068,310	2,001,980	2,047,680	1,407,790	1,415,800	1,048,070	745,260	709,097	152,650	-35,302	215,134	-157,711	-168,217	-180,683	-223,304	-83,731	140,728	1,009,010
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	0.00	—	—	—	—	—	0.00	0.00

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $2,320,440K
= 0.00

The debt-to-equity ratio of Northern Oil & Gas Inc provides insight into the company's capital structure and financial leverage. A debt-to-equity ratio of 0.00 indicates that the company has no debt relative to its equity. This suggests that the company relies more on equity financing rather than debt financing to support its operations and growth. A lower debt-to-equity ratio is generally viewed positively by investors as it indicates lower financial risk and greater financial stability.

The consistent 0.00 debt-to-equity ratio from March 2020 to December 2024 implies that Northern Oil & Gas Inc has been operating with no debt on its balance sheet during this period. This can be a strategic decision by the company to avoid interest payments and reduce financial risk, or it may signal a conservative approach to managing its financial obligations. Overall, a zero debt-to-equity ratio reflects a strong financial position and may indicate that the company has sufficient internal resources to fund its operations and expansion without relying on external debt.