Northern Oil & Gas (NOG) Return on Equity [ROE] (2011 - 2026)
Northern Oil & Gas' Return on Equity [ROE] was -24.55% in Q3 2026, down 32.33 percentage points from 7.78% a year earlier but up 1.17 percentage points from the prior quarter.
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Analysis
Northern Oil & Gas (NOG) Return on Equity [ROE] (2011 - 2026) Analysis & Trends
For FY2025, Return on Equity [ROE] at Northern Oil & Gas came in at 1.74%, down 22.08 percentage points from FY2024.
- Return on Equity [ROE] has now declined for three consecutive years, though with a five-year change of +542.12 percentage points (FY2020 to FY2025).
- In earlier years, Return on Equity [ROE] was 23.82% in FY2024 (-42.27 pp), 66.09% in FY2023 (-94.93 pp) and 161.02% in FY2022.
- Quarterly Return on Equity [ROE] has moved between -122.16% (Q1 2022) and 395.38% (Q2 2022) over five years.
- Compared with a year earlier, Return on Equity [ROE] has declined for 14 straight quarters, with an average year-over-year change of -28.64 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Equity [ROE] over five years was Q1 2023 (a gain of 269.37 percentage points); the worst was Q2 2023 (a drop of 295.01 percentage points).
- Per Business Quant data, NOG's Return on Equity [ROE] in the three quarters before Q3 2026 was -25.72% (Q2 2026), -31.86% (Q1 2026) and 1.77% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROE (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 696.20 Bn | 661.07 Bn | 47.44 Bn | 15.59% |
| 2 | Shell | 563.81 Bn | 425.16 Bn | - | 8.83% |
| 3 | Chevron | 432.14 Bn | 404.83 Bn | 31.26 Bn | 13.85% |
| 4 | TotalEnergies SE | 200.31 Bn | 75.66 Bn | 31.61 Bn | 14.76% |
| 5 | Eni Spa | 181.16 Bn | 124.34 Bn | - | 14.72% |
| 6 | Conocophillips | 168.32 Bn | 137.35 Bn | 12.63 Bn | 17.60% |
| 7 | Equinor Asa | 107.41 Bn | 20.34 Bn | 4.49 Bn | 26.83% |
| 8 | Canadian Natural Resources | 103.54 Bn | 97.44 Bn | 9.35 Bn | - |
| 9 | Phillips 66 | 103.32 Bn | 88.28 Bn | 10.69 Bn | 37.13% |
| 10 | Northern Oil & Gas | 2.66 Bn | 2.53 Bn | 202.42 Mn | -24.55% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -24.55% |
| Jun 30, 2026 | -25.72% |
| Mar 31, 2026 | -31.86% |
| Dec 31, 2025 | 1.77% |
| Sep 30, 2025 | 7.78% |
| Jun 30, 2025 | 25.28% |
| Mar 31, 2025 | 27.43% |
| Dec 31, 2024 | 22.46% |
| Sep 30, 2024 | 38.22% |
| Jun 30, 2024 | 27.77% |
| Mar 31, 2024 | 29.36% |
| Dec 31, 2023 | 53.42% |
| Sep 30, 2023 | 48.11% |
| Jun 30, 2023 | 100.37% |
| Mar 31, 2023 | 147.21% |
| Dec 31, 2022 | 106.33% |
| Sep 30, 2022 | 186.34% |
| Jun 30, 2022 | 395.38% |
| Mar 31, 2022 | -122.16% |
| Dec 31, 2021 | 22.16% |
API Access
Northern Oil & Gas Return on Equity [ROE] 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=return-on-equity-%5Broe%5D&ticker=NOG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-equity-[roe]", "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=return-on-equity-%5Broe%5D&ticker=NOG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();