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Northern Oil & Gas Inc (NOG) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

ENERGY · OIL & GAS E&P · DATA UPDATED 2026-08-30

Northern Oil & Gas Inc (NOG) operates in the OIL & GAS E&P industry and is headquartered in Minnetonka, United States with about 64 employees. Its market capitalization is roughly $3 billion. In the fiscal year ended 2025-12-31, NOG reported $2.1B in revenue and $39M in net income.

Northern Oil and Gas, Inc., an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. Northern Oil and Gas, Inc. was founded in 2006 and is headquartered in Minnetonka, Minnesota.

Interactive charts & full statements → Open the NOG valuation workbench →

NOG Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$2.2B	$2.1B	$2.2B	$1.9B	$2.0B	$975M	$324M	$601M	$494M	$224M	$160M	$203M	$432M	$369M	$297M	$160M	$60M	$14M	$4M	—	—
Gross Profit	$767M	$675M	$836M	$914M	$1.3B	$586M	$16M	$214M	$262M	$94M	$37M	($9M)	$159M	$168M	$137M	$91M	$43M	$12M	$3M	—	—
Gross Margin %	34.4%	32.2%	38.6%	47.9%	66.2%	60.2%	4.9%	35.6%	53.1%	42.0%	23.3%	-4.3%	36.9%	45.5%	46.2%	57.1%	71.7%	85.5%	98.0%	—	—
Operating Income (EBIT)	$712M	$614M	$838M	$1.1B	$853M	$78M	($841M)	$56M	$433M	$60M	($229M)	($1.1B)	$305M	$118M	$135M	$78M	$12M	$4M	$1M	($5M)	$0M
Operating Margin %	32.0%	29.3%	38.7%	58.8%	43.0%	8.0%	-259.6%	9.2%	87.6%	27.0%	-143.6%	-552.3%	70.7%	32.0%	45.4%	48.6%	19.3%	29.0%	34.2%	—	—
Net Income	($486M)	$39M	$520M	$923M	$773M	$6M	($906M)	($76M)	$144M	($9M)	($293M)	($975M)	$164M	$53M	$72M	$41M	$7M	$3M	$2M	($4M)	$0M
Net Margin %	-21.8%	1.8%	24.1%	48.4%	38.9%	0.7%	-279.6%	-12.7%	29.1%	-4.1%	-183.8%	-481.2%	37.9%	14.4%	24.3%	25.4%	11.6%	19.7%	68.4%	—	—
EBITDA	$321M	$1.1B	$1.6B	$1.6B	$1.1B	$206M	($686M)	$215M	$350M	$119M	($169M)	($982M)	$478M	$242M	$228M	$109M	$29M	$9M	$2M	($4M)	$0M
Earnings Per Share (EPS)	$-5.16	$0.39	$5.14	$10.03	$8.92	$0.10	$-21.20	$-1.97	$6.07	$-1.47	$-47.98	$-160.81	$26.91	$8.46	$11.50	$6.53	$1.36	$0.76	$0.74	$-1.82	$-0.00
Shares Outstanding (M)	108M	99M	101M	92M	87M	63M	43M	39M	24M	6M	6M	6M	6M	6M	6M	6M	5M	4M	3M	2M	2M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NOG Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$745M	$544M	$451M	$486M	$578M	$580M	$549M	$515M
Gross Profit	$353M	$179M	$96M	$140M	$215M	$225M	$185M	$208M
Gross Margin %	47.3%	32.9%	21.3%	28.7%	37.2%	38.7%	33.7%	40.4%
Operating Income (EBIT)	$353M	$156M	$79M	$125M	$176M	$229M	$133M	$434M
Operating Margin %	47.3%	28.6%	17.5%	25.8%	30.5%	39.5%	24.1%	84.2%
Net Income	$237M	($523M)	($71M)	($129M)	$100M	$139M	$72M	$298M
Net Margin %	31.8%	-96.1%	-15.7%	-26.6%	17.2%	23.9%	13.1%	57.9%
EBITDA	$545M	($456M)	$159M	$74M	$382M	$435M	$338M	$620M
Earnings Per Share (EPS)	$2.19	$-5.31	$-0.71	$-1.33	$1.00	$1.39	$0.71	$2.96
Shares Outstanding (M)	108M	99M	99M	97M	99M	100M	101M	101M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NOG Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Cash from Operations (CFO)	$1.4B	$1.5B	$1.4B	$1.2B	$928M	$396M	$332M	$340M	$244M	$73M	$102M	$247M	$274M	$223M	$199M	$85M	$73M	$10M	$3M	$0M
Capital Expenditures (CapEx)	$2.2B	$1.3B	$1.7B	$1.9B	$1.4B	$594M	$284M	$569M	$475M	$119M	$93M	$289M	$477M	$360M	$532M	$342M	$194M	$49M	$47M	$5M
Free Cash Flow (FCF)	($838M)	$253M	($266M)	($679M)	($431M)	($197M)	$48M	($229M)	($230M)	($46M)	$9M	($42M)	($203M)	($138M)	($334M)	($257M)	($121M)	($39M)	($44M)	($6M)
FCF Margin %	-37.7%	12.1%	-12.3%	-35.6%	-21.7%	-20.2%	14.7%	-38.1%	-46.6%	-20.7%	5.5%	-20.8%	-47.0%	-37.3%	-112.4%	-160.7%	-203.0%	-272.3%	-1249.6%	—
Dividends Paid	$180M	$173M	$162M	$124M	$73M	$34M	$34M	$71M	$614M	—	—	—	—	—	—	$19.2B	—	$1M	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NOG Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$322M	$324M	$313M	$423M	$362M	$407M	$290M	$386M
Capital Expenditures (CapEx)	$380M	$635M	$852M	$353M	$331M	$265M	$705M	$382M
Free Cash Flow (FCF)	($58M)	($311M)	($540M)	$71M	$31M	$143M	($415M)	$4M
FCF Margin %	-7.8%	-57.2%	-119.7%	14.5%	5.3%	24.6%	-75.6%	0.8%
Dividends Paid	$48M	$44M	$44M	$44M	$44M	$42M	$42M	$40M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NOG Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$5.8B	$5.4B	$5.6B	$4.5B	$2.9B	$1.5B	$872M	$1.9B	$1.5B	$632M	$432M	$734M	$2.0B	$1.5B	$1.2B	$726M	$510M	$136M	$63M	$18M	—
Cash & Cash Equivalents	$48M	$14M	$9M	$8M	$3M	$10M	$1M	$16M	$2M	$102M	$6M	$3M	$9M	$6M	$13M	$6M	$152M	$6M	$1M	$10M	—
Total Liabilities	$3.8B	$3.3B	$3.3B	$2.4B	$2.1B	$1.3B	$1.1B	$1.3B	$1.1B	$1.1B	$919M	$932M	$1.3B	$900M	$605M	$229M	$74M	$12M	$13M	$0M	$0M
Total Debt (Short + Long-Term)	$2.7B	$2.4B	$2.4B	$1.8B	$1.5B	$804M	$945M	$1.1B	$848M	$2.0B	$1.7B	$1.7B	$1.6B	$585M	$424M	$70M	$0M	$1M	$2M	$0M	$0M
Total Shareholders' Equity	$2.0B	$2.1B	$2.3B	$2.0B	$745M	$215M	($223M)	$559M	$430M	($491M)	($487M)	($198M)	$771M	$620M	$586M	$497M	$435M	$124M	$49M	$18M	$0M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive NOG viewer.

Other Companies in OIL & GAS E&P

CRK · Comstock Resources Inc — $4 billion
BTE · Baytex Energy Corp — $3 billion
TALO · Talos Energy — $3 billion
GPOR · Gulfport Energy Operating Corp — $3 billion
BKV · BKV Corporation — $3 billion
VET · Vermilion Energy Inc. — $2 billion
KOS · Kosmos Energy Ltd — $2 billion
GFR · Greenfire Resources Ltd. — $2 billion

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