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 operating margin
Operating margin is operating income as a percentage of revenue.
Northern Oil & Gas's operating margin for the twelve months ending Sep 30, 2026 was -24.2%. For fiscal 2025 it was 9.9%, against 37.6% the year before. The highest annual figure on record is 63.7% in fiscal 2018.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 9.9% | −27.7 |
| FY2024 | Dec 31, 2024 | 37.6% | −14.1 |
| FY2023 | Dec 31, 2023 | 51.8% | −2.5 |
| FY2022 | Dec 31, 2022 | 54.3% | +38.6 |
| FY2021 | Dec 31, 2021 | 15.7% | +168.0 |
| FY2020 | Dec 31, 2020 | -152.3% | −164.1 |
| FY2019 | Dec 31, 2019 | 11.8% | −52.0 |
| FY2018 | Dec 31, 2018 | 63.7% | +34.8 |
| FY2017 | Dec 31, 2017 | 28.9% | +187.1 |
| FY2016 | Dec 31, 2016 | -158.2% | +248.7 |
| FY2015 | Dec 31, 2015 | -407.0% | −458.3 |
| FY2014 | Dec 31, 2014 | 51.3% | +16.1 |
| FY2013 | Dec 31, 2013 | 35.1% | −6.3 |
| FY2012 | Dec 31, 2012 | 41.4% | −3.6 |
| FY2011 | Dec 31, 2011 | 45.0% | +19.2 |
| FY2010 | Dec 31, 2010 | 25.8% | −3.2 |
| FY2009 | Dec 31, 2009 | 29.0% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | -22.2% | +0.4 |
| Q2 FY2026 | Jun 30, 2026 | 47.3% | +22.4 |
| Q1 FY2026 | Mar 31, 2026 | -13022.1% | −13060.2 |
| Q4 FY2025 | Dec 31, 2025 | -5.5% | −31.3 |
| Q3 FY2025 | Sep 30, 2025 | -22.6% | −80.2 |
| Q2 FY2025 | Jun 30, 2025 | 24.9% | −14.1 |
| Q1 FY2025 | Mar 31, 2025 | 38.1% | +24.9 |
| Q4 FY2024 | Dec 31, 2024 | 25.8% | −35.2 |
| Q3 FY2024 | Sep 30, 2024 | 57.6% | +44.1 |
| Q2 FY2024 | Jun 30, 2024 | 39.0% | −10.2 |
| Q1 FY2024 | Mar 31, 2024 | 13.2% | −48.7 |
| Q4 FY2023 | Dec 31, 2023 | 61.0% | +15.8 |
| Q3 FY2023 | Sep 30, 2023 | 13.5% | −62.9 |
| Q2 FY2023 | Jun 30, 2023 | 49.3% | −11.9 |
| Q1 FY2023 | Mar 31, 2023 | 61.9% | +2.3 |
| Q4 FY2022 | Dec 31, 2022 | 45.2% | +24.7 |
| Q3 FY2022 | Sep 30, 2022 | 76.4% | +378.4 |
| Q2 FY2022 | Jun 30, 2022 | 61.2% | +362.0 |
| Q4 FY2021 | Dec 31, 2021 | 59.6% | +316.7 |
| Q3 FY2021 | Sep 30, 2021 | 20.5% | +482.6 |
| Q2 FY2021 | Jun 30, 2021 | -302.0% | −379.2 |
| Q1 FY2021 | Mar 31, 2021 | -300.8% | −194.9 |
| Q4 FY2020 | Dec 31, 2020 | -257.1% | −308.9 |
| Q3 FY2020 | Sep 30, 2020 | -462.1% | −511.5 |
| Q1 FY2020 | Mar 31, 2020 | 77.1% | −2.9 |
| Q4 FY2019 | Dec 31, 2019 | -106.0% | −140.8 |
| Q3 FY2019 | Sep 30, 2019 | 51.8% | +27.4 |
| Q2 FY2019 | Jun 30, 2019 | 49.5% | +10.6 |
| Q4 FY2018 | Dec 31, 2018 | 80.1% | +89.9 |
| Q3 FY2018 | Sep 30, 2018 | 34.8% | +33.4 |
| Q2 FY2018 | Jun 30, 2018 | 24.4% | −22.3 |
| Q1 FY2018 | Mar 31, 2018 | 38.9% | −11.6 |
| Q4 FY2017 | Dec 31, 2017 | -9.9% | −16.8 |
| Q3 FY2017 | Sep 30, 2017 | 1.4% | – |
| Q2 FY2017 | Jun 30, 2017 | 46.7% | – |
| Q1 FY2017 | Mar 31, 2017 | 50.5% | – |
| Q4 FY2016 | Dec 31, 2016 | 6.9% | – |
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