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Northern Oil & Gas Valuation Multiples

Discover revenue and EBITDA valuation multiples for Northern Oil & Gas and similar public comparables like AGL Energy, Dana Gas, and ADNOC Drilling Company.

Northern Oil & Gas Overview

About Northern Oil & Gas

Northern Oil & Gas Inc is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil and natural gas properties. Its principal business is crude oil and natural gas exploration, development, and production. The company’s oil and natural gas sales come from three geographic areas in the United States: the Williston Basin (North Dakota and Montana), the Permian Basin (New Mexico and Texas), the Uinta Basin, and the Appalachian Basin (Pennsylvania and Ohio).


Founded

2006

HQ

United States of America
Employees

49

Website

northernoil.com

Financials

LTM Revenue $2.2B

LTM EBITDA $1.6B

EV

$5.2B

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Northern Oil & Gas Financials

Northern Oil & Gas has a last 12-month revenue (LTM) of $2.2B and a last 12-month EBITDA of $1.6B.

In the most recent fiscal year, Northern Oil & Gas achieved revenue of $2.2B and an EBITDA of $1.6B.

Northern Oil & Gas expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Northern Oil & Gas P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $2.2B XXX $2.2B XXX XXX XXX
Gross Profit n/a XXX $836M XXX XXX XXX
Gross Margin n/a XXX 39% XXX XXX XXX
EBITDA $1.6B XXX $1.6B XXX XXX XXX
EBITDA Margin 71% XXX 73% XXX XXX XXX
EBIT $779M XXX $776M XXX XXX XXX
EBIT Margin 35% XXX 36% XXX XXX XXX
Net Profit $477M XXX $520M XXX XXX XXX
Net Margin 21% XXX 24% XXX XXX XXX
Net Debt XXX XXX $2.4B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Northern Oil & Gas Stock Performance

As of July 15, 2025, Northern Oil & Gas's stock price is $29.

Northern Oil & Gas has current market cap of $2.9B, and EV of $5.2B.

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Northern Oil & Gas Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$5.2B $2.9B XXX XXX XXX XXX $4.81

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Northern Oil & Gas Valuation Multiples

As of July 15, 2025, Northern Oil & Gas has market cap of $2.9B and EV of $5.2B.

Northern Oil & Gas's trades at 2.4x EV/Revenue multiple, and 3.3x EV/EBITDA.

Equity research analysts estimate Northern Oil & Gas's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Northern Oil & Gas has a P/E ratio of 6.1x.

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Northern Oil & Gas Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $2.9B XXX $2.9B XXX XXX XXX
EV (current) $5.2B XXX $5.2B XXX XXX XXX
EV/Revenue 2.3x XXX 2.4x XXX XXX XXX
EV/EBITDA 3.3x XXX 3.3x XXX XXX XXX
EV/EBIT 6.6x XXX 6.7x XXX XXX XXX
EV/Gross Profit n/a XXX n/a XXX XXX XXX
P/E 6.1x XXX 5.6x XXX XXX XXX
EV/FCF 13.2x XXX -18.3x XXX XXX XXX

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Northern Oil & Gas Margins & Growth Rates

Northern Oil & Gas's last 12 month revenue growth is 0%

Northern Oil & Gas's revenue per employee in the last FY averaged $44.2M, while opex per employee averaged $1.2M for the same period.

Northern Oil & Gas's rule of 40 is 85% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Northern Oil & Gas's rule of X is 72% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Northern Oil & Gas Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 0% XXX 2% XXX XXX XXX
EBITDA Margin 71% XXX 73% XXX XXX XXX
EBITDA Growth -3% XXX -2% XXX XXX XXX
Rule of 40 85% XXX 73% XXX XXX XXX
Bessemer Rule of X XXX XXX 72% XXX XXX XXX
Revenue per Employee XXX XXX $44.2M XXX XXX XXX
Opex per Employee XXX XXX $1.2M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 3% XXX XXX XXX

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Northern Oil & Gas Public Comps

See public comps and valuation multiples for Energy Exploration & Generation and Fossil Fuels comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNOC Drilling Company XXX XXX XXX XXX XXX XXX
ADNOC Gas XXX XXX XXX XXX XXX XXX
Dana Gas XXX XXX XXX XXX XXX XXX
TAQA XXX XXX XXX XXX XXX XXX
AGL Energy XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Northern Oil & Gas M&A and Investment Activity

Northern Oil & Gas acquired  XXX companies to date.

Last acquisition by Northern Oil & Gas was  XXXXXXXX, XXXXX XXXXX XXXXXX . Northern Oil & Gas acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Northern Oil & Gas

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Northern Oil & Gas

When was Northern Oil & Gas founded? Northern Oil & Gas was founded in 2006.
Where is Northern Oil & Gas headquartered? Northern Oil & Gas is headquartered in United States of America.
How many employees does Northern Oil & Gas have? As of today, Northern Oil & Gas has 49 employees.
Who is the CEO of Northern Oil & Gas? Northern Oil & Gas's CEO is Mr. Nicholas O’Grady.
Is Northern Oil & Gas publicy listed? Yes, Northern Oil & Gas is a public company listed on NYS.
What is the stock symbol of Northern Oil & Gas? Northern Oil & Gas trades under NOG ticker.
When did Northern Oil & Gas go public? Northern Oil & Gas went public in 2007.
Who are competitors of Northern Oil & Gas? Similar companies to Northern Oil & Gas include e.g. ADNOC Drilling Company, ADNOC Gas, Dana Gas, TAQA.
What is the current market cap of Northern Oil & Gas? Northern Oil & Gas's current market cap is $2.9B
What is the current revenue of Northern Oil & Gas? Northern Oil & Gas's last 12 months revenue is $2.2B.
What is the current revenue growth of Northern Oil & Gas? Northern Oil & Gas revenue growth (NTM/LTM) is 0%.
What is the current EV/Revenue multiple of Northern Oil & Gas? Current revenue multiple of Northern Oil & Gas is 2.3x.
Is Northern Oil & Gas profitable? Yes, Northern Oil & Gas is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Northern Oil & Gas? Northern Oil & Gas's last 12 months EBITDA is $1.6B.
What is Northern Oil & Gas's EBITDA margin? Northern Oil & Gas's last 12 months EBITDA margin is 71%.
What is the current EV/EBITDA multiple of Northern Oil & Gas? Current EBITDA multiple of Northern Oil & Gas is 3.3x.
What is the current FCF of Northern Oil & Gas? Northern Oil & Gas's last 12 months FCF is $392M.
What is Northern Oil & Gas's FCF margin? Northern Oil & Gas's last 12 months FCF margin is 18%.
What is the current EV/FCF multiple of Northern Oil & Gas? Current FCF multiple of Northern Oil & Gas is 13.2x.

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