What is Northern O & G's earnings per share (EPS)?

Northern O & G (NOG) reported diluted earnings per share of $0.39 for fiscal year 2025. This represents a -92.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Northern O & G Financials

NOG

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Northern O & G (NOG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 41/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Northern O & G has an operating margin of 9.9%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 44/100, indicating healthy but not exceptional operating efficiency. This is down from 37.6% the prior year.

Growth

Northern O & G's revenue grew 11.2% year-over-year to $2.5B, a solid pace of expansion. This earns a growth score of 52/100.

Leverage

Northern O & G carries a low D/E ratio of 1.13, meaning only $1.13 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 79/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Northern O & G's current ratio of 1.09 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 17/100, which could limit financial flexibility.

Returns

Northern O & G generates a 1.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 15/100. This is down from 22.4% the prior year.

Altman Z-Score Distress

1.28

Northern O & G scores 1.28, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Strong

7/9

Northern O & G passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

38.84x

For every $1 of reported earnings, Northern O & G generates $38.84 in operating cash flow ($1.5B OCF vs $38.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.4x

Northern O & G earns $1.4 in operating income for every $1 of interest expense ($245.8M vs $172.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$2.5B

YoY+11.2%

5Y CAGR+35.0%

10Y CAGR+24.6%

Northern O & G generated $2.5B in revenue in fiscal year 2025. This represents an increase of 11.2% from the prior year.

EBITDA

N/A

Net Income

$38.8M

YoY-92.6%

Northern O & G reported $38.8M in net income in fiscal year 2025. This represents a decrease of 92.6% from the prior year.

EPS (Diluted)

$0.39

YoY-92.4%

Northern O & G earned $0.39 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 92.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$14.3M

YoY+60.1%

5Y CAGR+58.5%

10Y CAGR+15.5%

Northern O & G held $14.3M in cash against $2.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

97M

YoY-1.9%

5Y CAGR+16.2%

Northern O & G had 97M shares outstanding in fiscal year 2025. This represents a decrease of 1.9% from the prior year.

Margins & Returns

Gross Margin

80.9%

YoY+0.2pp

5Y CAGR+1.9pp

Northern O & G's gross margin was 80.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.2 percentage points from the prior year.

Operating Margin

9.9%

YoY-27.7pp

5Y CAGR+162.3pp

10Y CAGR+416.9pp

Northern O & G's operating margin was 9.9% in fiscal year 2025, reflecting core business profitability. This is down 27.7 percentage points from the prior year.

Net Margin

1.6%

YoY-21.8pp

5Y CAGR+165.7pp

10Y CAGR+356.2pp

Northern O & G's net profit margin was 1.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 21.8 percentage points from the prior year.

Return on Equity

1.8%

YoY-20.6pp

Northern O & G's ROE was 1.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 20.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$57.0M

YoY-39.7%

10Y CAGR+66.9%

Northern O & G spent $57.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 39.7% from the prior year.

Capital Expenditures

N/A

NOG Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$2.5B+11.2%	$2.2B+2.7%	$2.2B+37.9%	$1.6B+61.1%	$975.1M+76.6%	$552.2M
Cost of Revenue	$473.7M+10.2%	$429.8M+23.9%	$347.0M+33.1%	$260.7M+52.6%	$170.8M+46.8%	$116.3M
Gross Profit	$2.0B+11.5%	$1.8B-1.3%	$1.8B+38.9%	$1.3B+62.9%	$804.3M+84.5%	$435.9M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$61.3M+21.5%	$50.5M+7.8%	$46.8M-0.8%	$47.2M+55.6%	$30.3M+63.6%	$18.5M
Operating Income	$245.8M-70.7%	$837.8M-25.3%	$1.1B+31.5%	$853.2M+994.4%	$78.0M+109.3%	-$841.2M
Interest Expense	$172.4M+9.3%	$157.7M+16.3%	$135.7M+68.9%	$80.3M+36.1%	$59.0M+0.9%	$58.5M
Income Tax	$23.9M-85.1%	$160.5M+106.4%	$77.8M+2408.0%	$3.1M+1230.9%	$233K+240.4%	-$166K
Net Income	$38.8M-92.6%	$520.3M-43.6%	$923.0M+19.4%	$773.2M+12055.9%	$6.4M+100.7%	-$906.0M
EPS (Diluted)	$0.39-92.4%	$5.14-48.8%	$10.03+12.4%	$8.92+6961.5%	$-0.13+99.4%	$-21.55

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$610.2M+9.6%	$556.6M-21.2%	$706.8M+17.4%	$602.1M+16.9%	$515.0M-31.7%	$753.6M+34.4%	$560.8M+41.5%	$396.3M
Cost of Revenue	$119.9M+1.3%	$118.3M-2.6%	$121.4M+6.5%	$114.0M-2.2%	$116.6M+9.1%	$106.9M+6.0%	$100.9M-4.4%	$105.4M
Gross Profit	$490.3M+11.9%	$438.3M-25.1%	$585.4M+19.9%	$488.1M+22.5%	$398.4M-38.4%	$646.7M+40.6%	$459.9M+58.1%	$290.9M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$17.1M+21.4%	$14.1M-9.8%	$15.6M+7.9%	$14.5M-6.7%	$15.5M+55.2%	$10.0M-26.1%	$13.5M+18.8%	$11.4M
Operating Income	-$33.8M+73.1%	-$125.8M-171.4%	$176.2M-23.2%	$229.3M+72.9%	$132.6M-69.4%	$433.9M+98.2%	$218.9M+318.4%	$52.3M
Interest Expense	$41.1M-4.3%	$43.0M-3.3%	$44.4M+1.3%	$43.9M-3.1%	$45.3M+22.9%	$36.8M-2.3%	$37.7M-0.6%	$37.9M
Income Tax	-$15.3M+61.4%	-$39.7M-223.4%	$32.2M-31.2%	$46.8M+190.0%	$16.1M-83.7%	$98.8M+131.1%	$42.7M+1402.0%	$2.8M
Net Income	-$70.7M+45.2%	-$129.1M-229.6%	$99.6M-28.3%	$139.0M+93.8%	$71.7M-76.0%	$298.4M+115.4%	$138.6M+1093.8%	$11.6M
EPS (Diluted)	N/A	$-1.33-233.0%	$1.00-28.1%	$1.39	N/A	$2.96+117.6%	$1.36+1136.4%	$0.11

NOG Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$5.4B-3.5%	$5.6B+25.0%	$4.5B+56.0%	$2.9B+88.8%	$1.5B+74.6%	$872.1M
Current Assets	$586.0M+17.0%	$500.7M-1.7%	$509.4M+58.9%	$320.5M+48.8%	$215.3M+71.4%	$125.6M
Cash & Equivalents	$14.3M+60.1%	$8.9M+9.0%	$8.2M+224.2%	$2.5M-73.4%	$9.5M+566.6%	$1.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$349.9M-10.2%	$389.7M+5.2%	$370.5M+36.6%	$271.3M+40.2%	$193.6M+172.6%	$71.0M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.3B0.0%	$3.3B+34.8%	$2.4B+14.4%	$2.1B+62.9%	$1.3B+19.4%	$1.1B
Current Liabilities	$539.3M-0.9%	$544.3M+41.1%	$385.8M+11.8%	$345.0M+5.3%	$327.6M+79.5%	$182.5M
Long-Term Debt	$2.4B+1.1%	$2.4B+29.1%	$1.8B+20.3%	$1.5B+89.9%	$803.4M-8.7%	$879.8M
Total Equity	$2.1B-8.4%	$2.3B+13.3%	$2.0B+174.8%	$745.3M+246.4%	$215.1M+196.3%	-$223.3M
Retained Earnings	$481.3M+8.8%	$442.5M+668.9%	-$77.8M+92.2%	-$1.0B+43.6%	-$1.8B+0.4%	-$1.8B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$5.4B-1.5%	$5.5B-3.7%	$5.7B+0.5%	$5.7B+1.3%	$5.6B+10.8%	$5.1B+7.0%	$4.7B+2.0%	$4.6B
Current Assets	$586.0M+8.0%	$542.5M-7.8%	$588.4M+12.8%	$521.6M+4.2%	$500.7M-3.5%	$518.9M+25.4%	$413.7M+0.2%	$412.8M
Cash & Equivalents	$14.3M-54.8%	$31.6M+22.4%	$25.9M-23.0%	$33.6M+275.9%	$8.9M-74.0%	$34.4M+341.7%	$7.8M-76.0%	$32.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$349.9M+4.8%	$334.0M-18.6%	$410.2M+0.2%	$409.6M+5.1%	$389.7M+23.0%	$316.9M-11.9%	$359.6M+8.6%	$331.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.3B+1.0%	$3.2B-1.2%	$3.3B+0.5%	$3.3B-0.3%	$3.3B+19.8%	$2.7B+3.2%	$2.7B+0.9%	$2.6B
Current Liabilities	$539.3M+8.9%	$495.3M+1.5%	$488.2M-13.5%	$564.3M+3.7%	$544.3M+29.5%	$420.3M-9.7%	$465.6M+8.8%	$428.0M
Long-Term Debt	$2.4B+2.1%	$2.3B-0.8%	$2.4B+2.4%	$2.3B-2.5%	$2.4B+21.3%	$2.0B+4.2%	$1.9B-3.3%	$1.9B
Total Equity	$2.1B-5.3%	$2.2B-7.0%	$2.4B+0.5%	$2.4B+3.5%	$2.3B+0.3%	$2.3B+11.9%	$2.1B+3.3%	$2.0B
Retained Earnings	$481.3M-12.8%	$552.0M-19.0%	$681.1M+17.1%	$581.5M+31.4%	$442.5M+19.3%	$370.8M+412.4%	$72.4M+209.4%	-$66.2M

NOG Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.5B+6.9%	$1.4B+19.0%	$1.2B+27.5%	$928.4M+134.2%	$396.5M+19.5%	$331.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$1.3B+25.2%	-$1.7B+10.1%	-$1.9B-32.8%	-$1.4B-121.1%	-$634.4M-123.5%	-$283.9M
Financing Cash Flow	-$247.5M-192.7%	$266.8M-61.0%	$684.7M+46.5%	$467.4M+89.9%	$246.1M+494.3%	-$62.4M
Dividends Paid	$173.4M+7.1%	$162.0M+30.7%	$123.9M+140.2%	$51.6M+945.0%	$4.9M	$0
Share Buybacks	$57.0M-39.7%	$94.5M+1080.6%	$8.0M-85.3%	$54.5M	$0	$0

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$312.6M-26.1%	$423.1M+16.8%	$362.1M-11.1%	$407.4M+40.4%	$290.3M-24.8%	$385.8M+13.3%	$340.5M-13.2%	$392.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$308.1M+12.6%	-$352.6M-7.7%	-$327.3M-23.7%	-$264.6M+60.1%	-$662.6M-73.5%	-$381.9M-71.1%	-$223.2M+45.2%	-$407.1M
Financing Cash Flow	-$21.9M+66.2%	-$64.8M-52.1%	-$42.6M+64.0%	-$118.2M-134.1%	$346.9M+1429.8%	$22.7M+116.0%	-$142.0M-462.3%	$39.2M
Dividends Paid	$43.7M0.0%	$43.7M-1.3%	$44.3M+6.1%	$41.7M-0.1%	$41.8M+4.8%	$39.9M-0.9%	$40.2M+0.3%	$40.1M
Share Buybacks	$7.0M	$0-100.0%	$35.0M+133.3%	$15.0M-40.4%	$25.2M+74.2%	$14.5M-58.6%	$34.9M+74.3%	$20.0M

NOG Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	80.9%+0.2pp	80.7%-3.3pp	84.0%+0.6pp	83.4%+0.9pp	82.5%+3.5pp	78.9%
Operating Margin	9.9%-27.7pp	37.6%-14.2pp	51.8%-2.5pp	54.3%+46.3pp	8.0%+160.3pp	-152.3%
Net Margin	1.6%-21.8pp	23.4%-19.2pp	42.6%-6.6pp	49.2%+48.6pp	0.7%+164.7pp	-164.1%
Return on Equity	1.8%-20.6pp	22.4%-22.6pp	45.1%-58.7pp	103.8%+100.8pp	3.0%	N/A
Return on Assets	0.7%-8.6pp	9.3%-11.3pp	20.6%-6.3pp	26.9%+26.5pp	0.4%+104.3pp	-103.9%
Current Ratio	1.09+0.2	0.92-0.4	1.32+0.4	0.93+0.3	0.66-0.0	0.69
Debt-to-Equity	1.13+0.1	1.02+0.1	0.90-1.2	2.05-1.7	3.73+7.7	-3.94
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	80.3%+1.6pp	78.7%-4.1pp	82.8%+1.8pp	81.1%+3.7pp	77.4%-8.5pp	85.8%+3.8pp	82.0%+8.6pp	73.4%
Operating Margin	-5.5%+17.0pp	-22.6%-47.5pp	24.9%-13.2pp	38.1%+12.3pp	25.8%-31.8pp	57.6%+18.5pp	39.0%+25.8pp	13.2%
Net Margin	-11.6%+11.6pp	-23.2%-37.3pp	14.1%-9.0pp	23.1%+9.2pp	13.9%-25.7pp	39.6%+14.9pp	24.7%+21.8pp	2.9%
Return on Equity	-3.3%+2.4pp	-5.8%-9.9pp	4.1%-1.7pp	5.8%+2.7pp	3.1%-9.8pp	12.9%+6.2pp	6.7%+6.1pp	0.6%
Return on Assets	-1.3%+1.0pp	-2.4%-4.1pp	1.8%-0.7pp	2.5%+1.2pp	1.3%-4.6pp	5.9%+3.0pp	2.9%+2.7pp	0.3%
Current Ratio	1.090.0	1.10-0.1	1.21+0.3	0.920.0	0.92-0.3	1.23+0.3	0.89-0.1	0.96
Debt-to-Equity	1.13+0.1	1.05+0.1	0.98+0.0	0.96-0.1	1.02+0.2	0.84-0.1	0.91-0.1	0.97
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Northern O & G's annual revenue?

Northern O & G (NOG) reported $2.5B in total revenue for fiscal year 2025. This represents a 11.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Northern O & G's revenue growing?

Northern O & G (NOG) revenue grew by 11.2% year-over-year, from $2.2B to $2.5B in fiscal year 2025.

Is Northern O & G profitable?

Yes, Northern O & G (NOG) reported a net income of $38.8M in fiscal year 2025, with a net profit margin of 1.6%.

How much debt does Northern O & G have?

As of fiscal year 2025, Northern O & G (NOG) had $14.3M in cash and equivalents against $2.4B in long-term debt.

What is Northern O & G's gross margin?

Northern O & G (NOG) had a gross margin of 80.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Northern O & G's operating margin?

Northern O & G (NOG) had an operating margin of 9.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Northern O & G's net profit margin?

Northern O & G (NOG) had a net profit margin of 1.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Northern O & G's return on equity (ROE)?

Northern O & G (NOG) has a return on equity of 1.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Northern O & G's operating cash flow?

Northern O & G (NOG) generated $1.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Northern O & G's total assets?

Northern O & G (NOG) had $5.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Northern O & G buy back shares?

Yes, Northern O & G (NOG) spent $57.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Northern O & G have outstanding?

Northern O & G (NOG) had 97M shares outstanding as of fiscal year 2025.

What is Northern O & G's current ratio?

Northern O & G (NOG) had a current ratio of 1.09 as of fiscal year 2025, which is considered adequate.

What is Northern O & G's debt-to-equity ratio?

Northern O & G (NOG) had a debt-to-equity ratio of 1.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Northern O & G's return on assets (ROA)?

Northern O & G (NOG) had a return on assets of 0.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Northern O & G's Altman Z-Score?

Northern O & G (NOG) has an Altman Z-Score of 1.28, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Northern O & G's Piotroski F-Score?

Northern O & G (NOG) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Northern O & G's earnings high quality?

Northern O & G (NOG) has an earnings quality ratio of 38.84x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Northern O & G cover its interest payments?

Northern O & G (NOG) has an interest coverage ratio of 1.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Northern O & G?

Northern O & G (NOG) scores 41 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.