Northern Oil & Gas (NOG) Operating Margin (2011 - 2026)
Northern Oil & Gas (NOG) recorded Operating Margin of 47.31% in Q2 2026, up 22.38 percentage points from 24.92% a year earlier and up 13069.44 percentage points from the prior quarter.
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Analysis
Northern Oil & Gas (NOG) Operating Margin (2011 - 2026) Analysis & Trends
On a TTM basis, Northern Oil & Gas' Operating Margin came in at -24.10% as of Jun 30, 2026, down 61.81 percentage points year-over-year; for FY2025, it came in at 9.93%, down 27.71 percentage points from FY2024.
- Annual Operating Margin has declined for three straight years, though with a five-year change of +162.27 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 37.64% in FY2024 (-14.14 pp), 51.79% in FY2023 (-2.54 pp), 54.32% in FY2022 (+38.64 pp) and 15.69% in FY2021 (+168.03 pp).
- The Q2 2026 figure is the highest quarterly Operating Margin since Q3 2024.
- On a year-over-year basis, Operating Margin rose in three of the last eight quarters, with an average year-over-year change of -1641.22 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 636.13 percentage points in Q1 2023, against a drop of 13060.21 percentage points in Q1 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at -13022.13% (Q1 2026), -5.55% (Q4 2025) and -22.59% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 540.77 Bn | 451.32 Bn | 30.13 Bn | 28.46% |
| 2 | Chevron | 403.83 Bn | 381.62 Bn | 33.45 Bn | -28.44% |
| 3 | TotalEnergies SE | 188.75 Bn | 71.88 Bn | - | - |
| 4 | Eni Spa | 170.81 Bn | 120.33 Bn | - | 5.19% |
| 5 | Conocophillips | 150.42 Bn | 123.13 Bn | 12.81 Bn | 53.17% |
| 6 | Equinor Asa | 104.06 Bn | 50.12 Bn | - | 36.94% |
| 7 | Phillips 66 | 101.90 Bn | 90.89 Bn | 8.38 Bn | -74.35% |
| 8 | Canadian Natural Resources | 97.96 Bn | 94.91 Bn | - | - |
| 9 | Suncor Energy | 80.99 Bn | 66.79 Bn | - | 30.46% |
| 10 | Northern Oil & Gas | 2.44 Bn | 2.31 Bn | 618.15 Mn | 47.31% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 47.31% |
| Mar 31, 2026 | -13,022.13% |
| Dec 31, 2025 | -5.55% |
| Sep 30, 2025 | -22.59% |
| Jun 30, 2025 | 24.92% |
| Mar 31, 2025 | 38.08% |
| Dec 31, 2024 | 25.76% |
| Sep 30, 2024 | 57.58% |
| Jun 30, 2024 | 39.04% |
| Mar 31, 2024 | 13.20% |
| Dec 31, 2023 | 61.00% |
| Sep 30, 2023 | 13.52% |
| Jun 30, 2023 | 49.27% |
| Mar 31, 2023 | 61.93% |
| Dec 31, 2022 | 45.23% |
| Sep 30, 2022 | 76.38% |
| Jun 30, 2022 | 61.19% |
| Mar 31, 2022 | -574.20% |
| Sep 30, 2021 | 10.38% |
| Jun 30, 2021 | -33.19% |
API Access
Northern Oil & Gas Operating 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=operating-margin&ticker=NOG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=NOG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();