Northern Oil & Gas (NOG) Gross Margin (2009 - 2026)
Northern Oil & Gas (NOG) reported Gross Margin of 58.52% for Q3 2026, down 20.22 percentage points from 78.74% a year earlier and down 24.43 percentage points from the prior quarter.
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Analysis
Northern Oil & Gas (NOG) Gross Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Northern Oil & Gas' Gross Margin came in at 69.51%, down 10.73 percentage points year-over-year; for FY2025, it was 80.87%, up 0.18 percentage points from FY2024.
- Gross Margin has a five-year change of +1.93 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 80.69% in FY2024 (-3.29 pp), 83.98% in FY2023 (+0.58 pp), 83.40% in FY2022 (+17.78 pp) and 65.62% in FY2021 (-13.31 pp).
- Five-year quarterly Gross Margin spans a low of -2479.98% in Q1 2026 and a high of 91.35% in Q3 2022.
- Year over year, Gross Margin gained in four of the last eight quarters, with an average year-over-year change of -323.31 percentage points.
- The high point for year-over-year Gross Margin in five years was Q1 2023 (a gain of 152.21 percentage points); the low point was Q1 2026 (a drop of 2561.04 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 82.95% (Q2 2026), -2479.98% (Q1 2026) and 80.35% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 696.20 Bn | 661.07 Bn | 47.44 Bn | 41.92% |
| 2 | Shell | 563.81 Bn | 425.16 Bn | - | - |
| 3 | Chevron | 432.14 Bn | 404.83 Bn | 31.26 Bn | 46.11% |
| 4 | TotalEnergies SE | 200.31 Bn | 75.66 Bn | 31.61 Bn | 47.31% |
| 5 | Eni Spa | 181.16 Bn | 124.34 Bn | - | - |
| 6 | Conocophillips | 168.32 Bn | 137.35 Bn | 12.63 Bn | 62.99% |
| 7 | Equinor Asa | 107.41 Bn | 20.34 Bn | 4.49 Bn | 13.53% |
| 8 | Canadian Natural Resources | 103.54 Bn | 97.44 Bn | 9.35 Bn | 83.69% |
| 9 | Phillips 66 | 103.32 Bn | 88.28 Bn | 10.69 Bn | 20.76% |
| 10 | Northern Oil & Gas | 2.66 Bn | 2.53 Bn | 202.42 Mn | 58.52% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 58.52% |
| Jun 30, 2026 | 82.95% |
| Mar 31, 2026 | -2,479.98% |
| Dec 31, 2025 | 80.35% |
| Sep 30, 2025 | 78.74% |
| Jun 30, 2025 | 82.82% |
| Mar 31, 2025 | 81.06% |
| Dec 31, 2024 | 77.36% |
| Sep 30, 2024 | 85.82% |
| Jun 30, 2024 | 82.01% |
| Mar 31, 2024 | 73.40% |
| Dec 31, 2023 | 87.14% |
| Sep 30, 2023 | 73.72% |
| Jun 30, 2023 | 82.30% |
| Mar 31, 2023 | 86.59% |
| Dec 31, 2022 | 80.29% |
| Sep 30, 2022 | 91.35% |
| Jun 30, 2022 | 85.36% |
| Mar 31, 2022 | -65.62% |
| Sep 30, 2021 | 83.35% |
API Access
Northern Oil & Gas Gross Margin 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=gross-margin&ticker=NOG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=NOG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();