Northern Oil and Gas, Inc. (NOG) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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NOG Revenue Growth
Revenue Breakdown (FY 2025)
NOG's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
NOG Revenue Analysis (2014–2025)
As of May 8, 2026, Northern Oil and Gas, Inc. (NOG) generated trailing twelve-month (TTM) revenue of $2.06 billion, reflecting moderate decline in growth of -6.2% year-over-year. The most recent quarter (Q1 2026) recorded $544.1 million in revenue, up 20.7% sequentially.
Looking at the longer-term picture, NOG's 5-year compound annual growth rate (CAGR) stands at +45.2%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $2.16 billion in 2024.
Revenue diversification analysis shows NOG's business is primarily driven by Oil and Gas (82%), and Natural Gas and NGL (18%). With over half of revenue concentrated in Oil and Gas, the company maintains significant focus in this area while developing other growth vectors.
When compared to Energy sector peers including VTLE (+1.9% YoY), CIVI (-6.6% YoY), and TPVG, NOG has underperformed the peer group in terms of revenue growth. Compare NOG vs VTLE →
NOG Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NOGCurrent | $2.1B | -6.2% | +45.2% | 29.3% | |
 VTLE | $2.0B | +1.9% | +18.5% | -1.2% | |
 CIVI | $5.2B | -6.6% | +75.4% | 29.0% | |
 TPVG | $97M | - | - | 77.9% | |
 BATL | $165M | -14.9% | +2.2% | -4.0% | |
 GPOR | $1.3B | +37.1% | +10.6% | 37.9% |
NOG Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.10B | -3.2% | $675.2M | 32.2% | $613.9M | 29.3% |
| 2024 | $2.16B | +13.5% | $836.0M | 38.6% | $837.8M | 38.7% |
| 2023 | $1.91B | -4.0% | $913.9M | 47.9% | $1.12B | 58.8% |
| 2022 | $1.99B | +103.7% | $1.32B | 66.3% | $853.2M | 43.0% |
| 2021 | $975.1M | +200.9% | $586.5M | 60.1% | $78.0M | 8.0% |
| 2020 | $324.1M | -46.1% | $15.8M | 4.9% | $-841,243,000 | -259.6% |
| 2019 | $601.2M | +21.7% | $214.4M | 35.7% | $55.5M | 9.2% |
| 2018 | $493.9M | +120.5% | $262.2M | 53.1% | $432.6M | 87.6% |
| 2017 | $224.0M | +40.2% | $94.1M | 42.0% | $60.5M | 27.0% |
| 2016 | $159.7M | -21.2% | $37.3M | 23.3% | $-229,305,000 | -143.6% |
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Start ComparisonNOG — Frequently Asked Questions
Quick answers to the most common questions about buying NOG stock.
Is NOG's revenue growth accelerating or slowing?
NOG revenue declined -6.2% year-over-year, contrasting with the 5-year CAGR of +45.2%. TTM revenue fell to $2.1B. This reverses the prior growth trend.
What is NOG's long-term revenue growth rate?
Northern Oil and Gas, Inc.'s 5-year revenue CAGR of +45.2% reflects the variable expansion pattern. Current YoY growth of -6.2% is below this long-term average.
How is NOG's revenue distributed by segment?
NOG reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.