Northern Oil & Gas (NOG) EV to CFO (2011 - 2026)
Northern Oil & Gas' (NOG) EV to CFO stood at 1.37 in Q2 2026, down 28.0% from 1.90 a year earlier and down 36.5% from the prior quarter.
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Analysis
Northern Oil & Gas (NOG) EV to CFO (2011 - 2026) Analysis & Trends
On a TTM basis, Northern Oil & Gas' EV to CFO came in at 1.31 as of Jun 30, 2026, down 29.1% year-over-year; for FY2025, it came in at 1.38, down 47.2% from FY2024.
- Across earlier years, EV to CFO came in at 2.61 in FY2024 (-17.2%), 3.15 in FY2023 (+11.5%), 2.82 in FY2022 (-13.0%) and 3.25 in FY2021 (+168.6%).
- The Q2 2026 figure is the lowest quarterly EV to CFO since Q4 2020.
- On a year-over-year basis, EV to CFO rose in 1 of the last eight quarters, with an average decline of 26.6%.
- Peak year-over-year performance for EV to CFO in the last five years was growth of 432.7% in Q3 2021, against a decline of 47.2% in Q4 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at 2.15 (Q1 2026), 1.38 (Q4 2025) and 1.61 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Shell | 540.77 Bn | 451.32 Bn | 30.13 Bn |
| 2 | Chevron | 403.83 Bn | 381.62 Bn | 33.45 Bn |
| 3 | TotalEnergies SE | 188.75 Bn | 71.88 Bn | - |
| 4 | Eni Spa | 170.81 Bn | 120.33 Bn | - |
| 5 | Conocophillips | 150.42 Bn | 123.13 Bn | 12.81 Bn |
| 6 | Equinor Asa | 104.06 Bn | 50.12 Bn | - |
| 7 | Phillips 66 | 101.90 Bn | 90.89 Bn | 8.38 Bn |
| 8 | Canadian Natural Resources | 97.96 Bn | 94.91 Bn | - |
| 9 | Suncor Energy | 80.99 Bn | 66.79 Bn | - |
| 10 | Northern Oil & Gas | 2.44 Bn | 2.31 Bn | 618.15 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.37 |
| Mar 31, 2026 | 2.15 |
| Dec 31, 2025 | 1.38 |
| Sep 30, 2025 | 1.61 |
| Jun 30, 2025 | 1.90 |
| Mar 31, 2025 | 2.07 |
| Dec 31, 2024 | 2.61 |
| Sep 30, 2024 | 2.40 |
| Jun 30, 2024 | 2.78 |
| Mar 31, 2024 | 3.04 |
| Dec 31, 2023 | 3.15 |
| Sep 30, 2023 | 3.31 |
| Jun 30, 2023 | 2.78 |
| Mar 31, 2023 | 2.48 |
| Dec 31, 2022 | 2.82 |
| Sep 30, 2022 | 2.78 |
| Jun 30, 2022 | 3.38 |
| Mar 31, 2022 | 4.46 |
| Dec 31, 2021 | 3.25 |
| Sep 30, 2021 | 4.20 |
API Access
Northern Oil & Gas EV to CFO API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=NOG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-cfo", "ticker": "NOG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=NOG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();