Northern Oil & Gas (NOG) EV to EBITDA (2011 - 2026)
Northern Oil & Gas' EV to EBITDA came in at 5.69 for Q2 2026, up 268.3% from 1.55 a year earlier but down 68.7% from the prior quarter.
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Analysis
Northern Oil & Gas (NOG) EV to EBITDA (2011 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Northern Oil & Gas reported EV to EBITDA of 5.44, up 262.2% year-over-year; for FY2025, it was 1.96, down 16.0% from FY2024.
- Going back by year, EV to EBITDA was 2.33 in FY2024 (+0.4%), 2.32 in FY2023 (-2.4%), 2.37 in FY2022 (-59.6%) and 5.88 in FY2021.
- The five-year range for quarterly EV to EBITDA is 1.52 (Q1 2023) to 18.74 (Q1 2022).
- Year-over-year, EV to EBITDA increased in three of the last seven quarters, with growth averaging 19.2%.
- The fastest year-over-year change in EV to EBITDA over five years came in Q2 2026 (growth of 268.3%), and the weakest in Q1 2023 (a decline of 91.9%).
- Business Quant data shows NOG's EV to EBITDA at 18.19 (Q1 2026), 1.96 (Q4 2025) and 1.95 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Shell | 548.90 Bn | 459.45 Bn | 30.13 Bn |
| 2 | Chevron | 407.58 Bn | 385.38 Bn | 33.45 Bn |
| 3 | TotalEnergies SE | 199.37 Bn | 82.49 Bn | - |
| 4 | Eni Spa | 174.90 Bn | 124.42 Bn | - |
| 5 | Conocophillips | 151.32 Bn | 124.03 Bn | 12.81 Bn |
| 6 | Equinor Asa | 105.71 Bn | 51.77 Bn | - |
| 7 | Phillips 66 | 101.18 Bn | 90.17 Bn | 8.38 Bn |
| 8 | Canadian Natural Resources | 99.04 Bn | 95.99 Bn | - |
| 9 | Suncor Energy | 82.08 Bn | 67.87 Bn | - |
| 10 | Northern Oil & Gas | 2.47 Bn | 2.34 Bn | 618.15 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 5.69 |
| Mar 31, 2026 | 18.19 |
| Dec 31, 2025 | 1.96 |
| Sep 30, 2025 | 1.95 |
| Jun 30, 2025 | 1.55 |
| Mar 31, 2025 | 1.65 |
| Dec 31, 2024 | 2.33 |
| Sep 30, 2024 | 1.87 |
| Jun 30, 2024 | 2.59 |
| Mar 31, 2024 | 2.88 |
| Dec 31, 2023 | 2.32 |
| Sep 30, 2023 | 3.06 |
| Jun 30, 2023 | 1.86 |
| Mar 31, 2023 | 1.52 |
| Dec 31, 2022 | 2.37 |
| Sep 30, 2022 | 1.97 |
| Jun 30, 2022 | 4.12 |
| Mar 31, 2022 | 18.74 |
| Dec 31, 2021 | 5.88 |
| Mar 31, 2020 | 0.34 |
API Access
Northern Oil & Gas EV to EBITDA 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-ebitda&ticker=NOG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "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-ebitda&ticker=NOG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();