Northern Oil & Gas Inc (NOG)
Financial leverage ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 5,603,820 | 4,484,260 | 2,875,180 | 1,522,870 | 872,089 |
| Total stockholders’ equity | US$ in thousands | 2,320,440 | 2,047,680 | 745,260 | 215,134 | -223,304 |
| Financial leverage ratio | 2.41 | 2.19 | 3.86 | 7.08 | — |
December 31, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $5,603,820K ÷ $2,320,440K
= 2.41
The financial leverage ratio of Northern Oil & Gas Inc has shown a decreasing trend over the past five years. As of December 31, 2020, the ratio was not available. However, by December 31, 2021, it stood at 7.08, indicating a high level of financial leverage. Subsequently, the ratio declined significantly to 3.86 by December 31, 2022, and further decreased to 2.19 by December 31, 2023. By December 31, 2024, the financial leverage ratio increased slightly to 2.41, but still remained at a relatively lower level compared to the previous years. This suggests that the company has reduced its reliance on debt financing and improved its financial stability over the years.
Peer comparison
Dec 31, 2024