Northern Oil & Gas, Inc. (NOG) stock
NOGNYSECrude Petroleum & Natural GasFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 6, 2026Score 6/308% below fair value
$25.11+0.37 (+1.50%)
Close on Nov 13, 2026Market cap $2.68BP/E –Yield –
Northern Oil & Gas gross margin
Gross margin is gross profit as a percentage of revenue.
Northern Oil & Gas's gross margin for the twelve months ending Sep 30, 2026 was 69.5%. For fiscal 2025 it was 80.9%, against 80.7% the year before. The highest annual figure on record is 90.2% in fiscal 2018.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 80.9% | +0.2 |
| FY2024 | Dec 31, 2024 | 80.7% | −3.3 |
| FY2023 | Dec 31, 2023 | 84.0% | +0.6 |
| FY2022 | Dec 31, 2022 | 83.4% | +17.8 |
| FY2021 | Dec 31, 2021 | 65.6% | −13.3 |
| FY2020 | Dec 31, 2020 | 78.9% | +4.1 |
| FY2019 | Dec 31, 2019 | 74.8% | −15.4 |
| FY2018 | Dec 31, 2018 | 90.2% | +13.9 |
| FY2017 | Dec 31, 2017 | 76.2% | +7.8 |
| FY2016 | Dec 31, 2016 | 68.5% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 58.5% | −20.2 |
| Q2 FY2026 | Jun 30, 2026 | 82.9% | +0.1 |
| Q1 FY2026 | Mar 31, 2026 | -2480.0% | −2561.0 |
| Q4 FY2025 | Dec 31, 2025 | 80.4% | +3.0 |
| Q3 FY2025 | Sep 30, 2025 | 78.7% | −7.1 |
| Q2 FY2025 | Jun 30, 2025 | 82.8% | +0.8 |
| Q1 FY2025 | Mar 31, 2025 | 81.1% | +7.7 |
| Q4 FY2024 | Dec 31, 2024 | 77.4% | −9.8 |
| Q3 FY2024 | Sep 30, 2024 | 85.8% | +12.1 |
| Q2 FY2024 | Jun 30, 2024 | 82.0% | −0.3 |
| Q1 FY2024 | Mar 31, 2024 | 73.4% | −13.2 |
| Q4 FY2023 | Dec 31, 2023 | 87.1% | +6.9 |
| Q3 FY2023 | Sep 30, 2023 | 73.7% | −17.6 |
| Q2 FY2023 | Jun 30, 2023 | 82.3% | −3.1 |
| Q1 FY2023 | Mar 31, 2023 | 86.6% | +2.4 |
| Q4 FY2022 | Dec 31, 2022 | 80.3% | +13.2 |
| Q3 FY2022 | Sep 30, 2022 | 91.3% | +163.5 |
| Q2 FY2022 | Jun 30, 2022 | 85.4% | +145.7 |
| Q4 FY2021 | Dec 31, 2021 | 84.2% | +40.5 |
| Q3 FY2021 | Sep 30, 2021 | 67.1% | +18.2 |
| Q2 FY2021 | Jun 30, 2021 | -72.1% | −164.8 |
| Q1 FY2021 | Mar 31, 2021 | -60.4% | −99.8 |
| Q4 FY2020 | Dec 31, 2020 | 43.7% | −42.5 |
| Q3 FY2020 | Sep 30, 2020 | 48.9% | −37.0 |
| Q1 FY2020 | Mar 31, 2020 | 92.6% | −2.5 |
| Q4 FY2019 | Dec 31, 2019 | 39.4% | −42.8 |
| Q3 FY2019 | Sep 30, 2019 | 86.2% | +7.9 |
| Q2 FY2019 | Jun 30, 2019 | 86.0% | +4.7 |
| Q4 FY2018 | Dec 31, 2018 | 95.2% | +31.1 |
| Q3 FY2018 | Sep 30, 2018 | 82.2% | +12.5 |
| Q2 FY2018 | Jun 30, 2018 | 78.2% | −3.1 |
| Q1 FY2018 | Mar 31, 2018 | 81.3% | – |
| Q4 FY2017 | Dec 31, 2017 | 64.0% | – |
| Q3 FY2017 | Sep 30, 2017 | 69.7% | – |
| Q2 FY2017 | Jun 30, 2017 | 81.3% | – |
See a number that looks wrong?