NORTHERN OIL & GAS, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $2.5B | $2.2B | $2.2B | $1.6B | $496.9M |
| Cost of revenue | $473.7M | $429.8M | $347.0M | $260.7M | $170.8M |
| Operating income | $245.8M | $837.8M | $1.1B | $853.2M | $78.0M |
| Interest expense | $172.4M | $157.7M | $135.7M | $80.3M | $59.0M |
| Pretax income | $62.7M | $680.8M | $1.0B | $776.3M | $6.6M |
| Income tax expense | $23.9M | $160.5M | $77.8M | $3.1M | $233,000 |
| Net income | $38.8M | $520.3M | $923.0M | $773.2M | $6.4M |
| Balance Sheet | |||||
| Cash and equivalents | $14.3M | $8.9M | $8.2M | $2.5M | $9.5M |
| Current assets | $586.0M | $500.7M | $509.4M | $320.5M | $215.3M |
| Total assets | $5.4B | $5.6B | $4.5B | $2.9B | $1.5B |
| Current liabilities | $539.3M | $544.3M | $385.8M | $345.0M | $327.6M |
| Total liabilities | $3.3B | $3.3B | $2.4B | $2.1B | $1.3B |
| Total debt | $2.4B | $2.4B | $1.9B | $1.5B | $805.0M |
| Stockholders' equity | $2.1B | $2.3B | $2.0B | $745.3M | $215.1M |
| Cash Flow Statement | |||||
| Cash from operations | $1.5B | $1.4B | $1.2B | $928.4M | $396.5M |
| Stock-based compensation | $15.4M | $12.0M | $5.7M | $5.7M | $3.6M |
| Capital expenditure | $759,000 | $128,000 | $1.2M | $4.6M | $556,000 |
| Free cash flow | $1.5B | $1.4B | $1.2B | $923.8M | $395.9M |
| Dividends paid | $173.4M | $162.0M | $123.9M | $51.6M | $4.9M |
| Share repurchases | $57.0M | $94.5M | $8.0M | $54.5M | $0 |
| Impairments | $0 | — | — | — | — |
Shares outstanding 105.8M · Free float 52.6%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.