NOG NYSE
Northern Oil and Gas, Inc.
1W: +2.7%
1M: +24.7%
3M: +43.6%
YTD: +29.4%
1Y: +28.4%
3Y: -22.4%
5Y: +36.0%
$28.15
-0.33 (-1.16%)
After Hours: $28.05 (-0.09, -0.34%)
Weekly Expected Move ±4.6%
$26
$27
$28
$30
$31
Credit Risk of going bust: higher than 67% of companies Debt: 47.3% of company value Bonds: $254.6M held by 225 funds, 325 bp over Treasuries → details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.86 (down 93%), Northern Oil and Gas, Inc. would be worth roughly what it owes.
Total debt $2.72B against a stock market value of $3.03B.
Distance to default 3.62 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $1.36B (short-term plus half of long-term), stock volatility 45.4%; Altman Z'' -0.03. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $1.86 (down 93%), Northern Oil and Gas, Inc. would be worth roughly what it owes.
Total debt $2.72B against a stock market value of $3.03B.
Distance to default 3.62 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $1.36B (short-term plus half of long-term), stock volatility 45.4%; Altman Z'' -0.03. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Income Trends
Revenue
$2.1B
-3.2% ▼
5Y CAGR: +45.2%
Gross Profit
$675M
-19.2% ▼
5Y CAGR: +111.8%
Operating Income
$614M
-26.7% ▼
Net Income
$39M
-92.6% ▼
EPS (Diluted)
$0.39
-92.4% ▼
EBITDA
$1.0B
-33.5% ▼
Profit Margins
Year-over-Year Growth
View Full Income Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $975M | $2.0B | $1.9B | $2.2B | $2.1B |
| YoY Growth | +200.9% | +103.7% | -4.0% | +13.5% | -3.2% |
| Cost of Revenue | $389M | $670M | $993M | $1.3B | $1.4B |
| Gross Profit | $586M | $1.3B | $914M | $836M | $675M |
| Gross Margin | 60.1% | 66.3% | 47.9% | 38.6% | 32.2% |
| R&D Expenses | $0 | $0 | $0 | $0 | $0 |
| SG&A Expenses | $30M | $47M | $47M | $50M | $61M |
| Operating Expenses | $509M | $462M | -$208M | -$2M | $61M |
| Operating Income | $78M | $853M | $1.1B | $838M | $614M |
| Operating Margin | 8.0% | 43.0% | 58.8% | 38.7% | 29.3% |
| Interest Expense | $59M | $80M | $136M | $158M | $172M |
| Income Before Tax | $7M | $776M | $1.0B | $681M | $63M |
| Tax Expense | $233K | $3M | $78M | $161M | $24M |
| Net Income | $6M | $773M | $923M | $520M | $39M |
| Net Margin | 0.7% | 38.9% | 48.4% | 24.0% | 1.9% |
| EPS (Diluted) | $-0.13 | $8.40 | $10.03 | $5.14 | $0.39 |
| EBITDA | $206M | $1.1B | $1.6B | $1.6B | $1.0B |
| Shares Outstanding | 63M | 87M | 92M | 101M | 99M |