Northern Oil & Gas Inc (NOG)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital 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 |
| 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 |
| Financial leverage ratio | 2.41 | 2.19 | 2.28 | 2.31 | 2.19 | 3.06 | 2.59 | 3.19 | 3.86 | 3.49 | 14.36 | — | 7.08 | — | — | — | — | — | 8.98 | 2.22 |
The solvency ratios of Northern Oil & Gas Inc indicate a strong financial position with consistently low levels of debt relative to assets, capital, and equity.
The Debt-to-assets ratio has remained at 0.00 throughout the analysis period, indicating that the company has not relied on debt to finance its assets, which is a positive sign for solvency.
The Debt-to-capital ratio and Debt-to-equity ratio were also consistently low, with some data points showing "—" which may indicate missing or insignificant data. However, where data was available, the ratios were at 0.00, suggesting minimal debt compared to capital and equity.
The Financial leverage ratio, which measures the extent of a company's financing with debt, showed some fluctuations initially but settled to lower levels in recent periods, indicating a decreasing reliance on debt for financing, which enhances solvency.
Overall, the solvency ratios of Northern Oil & Gas Inc demonstrate a stable and healthy balance sheet structure, reflecting a low risk of financial distress due to manageable debt levels.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 5.32 | 7.99 | 5.35 | 5.70 | 8.38 | 6.68 | 13.05 | 15.30 | 10.66 | 12.13 | 4.50 | -0.71 | 1.11 | -4.50 | -8.84 | -23.61 | -14.49 | -12.02 | -6.37 | 6.14 |
Interest coverage ratio is a key financial metric used to assess a company's ability to meet its interest obligations on outstanding debt. Northern Oil & Gas Inc's interest coverage has shown fluctuations over the specified periods.
- As of March 31, 2020, the interest coverage ratio was at a healthy 6.14, indicating that the company generated sufficient operating income to cover its interest expenses.
- However, this positive trend reversed in the following quarters, with negative interest coverage ratios recorded in June 2020, September 2020, December 2020, and March 2021. These negative ratios imply that the company's operating income was insufficient to cover its interest expenses during these periods.
- The interest coverage improved somewhat in June 2021, but remained below optimal levels at -8.84. Subsequently, the ratio fluctuated, with September 2021 showing further negative coverage and December 2021 indicating a slight improvement to 1.11, signaling a marginal ability to cover interest payments.
- The trend continued to be volatile in the subsequent periods, with interest coverage improving slightly to 4.50 in June 2022 and further increasing to 15.30 by March 31, 2023. This positive trajectory continued into June 2023 and September 2023, indicating strengthened ability to cover interest expenses.
- By December 31, 2023, the interest coverage ratio stood at 8.38, showing a stable ability to meet interest payments. However, a slight decline was observed in the following periods until June 30, 2024, where a ratio of 5.35 was recorded.
- As of September 30, 2024, the interest coverage ratio improved to 7.99, displaying a moderate recovery in the company's ability to cover interest obligations.
Overall, Northern Oil & Gas Inc's interest coverage ratio has displayed fluctuations over the specified periods, moving from negative values to positive values with some variability in between. It is essential for investors and analysts to monitor this ratio closely to assess the company's financial health and ability to service its debt obligations.