Fundamental analysis NOG (Northern Oil and Gas Inc)

Updated on 06/08/2026

We analyzed Northern Oil and Gas stock against the 10 quality criteria of Lubin Investment. The company gets a quality score of 7/10, meaning medium quality, and a P/FCF valuation multiple of 1.6×.

Sector: Oil & Gas E&P. Listing: US. Current price: 20.98 USD.

Lubin scoring methodology

Northern Oil and Gas Inc (NOG)'s score is calculated automatically from 10 objective financial criteria, with no human intervention or opinion. Each criterion is validated (YES / PARTIAL / NO) based on thresholds drawn from the financial literature (Warren Buffett, Bettin-Mauboussin, Aswath Damodaran). The final score is the sum of validations.

The 10 quantitative criteria analyzed

1. Profitable: positive net margin
2. Growing revenue: revenue growing > 10%/year over 5 years
3. Growing earnings per share: FCF per share adjusted for stock-based compensation, > 10%/year over 5 years
4. Share count under control: stable or declining (net buybacks = value creation for shareholders)
5. Cash profitability: free cash flow margin > 10% of revenue
6. Expanding margins: operating margin widens over 5 years (operating leverage)
7. Return on invested capital: Bettin-Mauboussin Cash ROCE > 15% per year
8. Debt under control: net debt repayable in less than 3 years of free cash flow
9. Earnings converted to cash: free cash flow exceeds accounting net income
10. Net collection period: short or negative cash conversion cycle

Frequently asked questions

Is Northern Oil and Gas a quality stock?

Northern Oil and Gas gets a quality score of 7/10 (medium quality), calculated over the 10 Lubin Investment criteria: profitability, revenue and free cash flow growth, share buybacks, margins, debt and return on capital.

How is Northern Oil and Gas's score calculated?

The score is the total of validated criteria (YES / PARTIAL / NO) using thresholds drawn from the financial literature (Warren Buffett, Mauboussin, Aswath Damodaran), automatically and with no human opinion.

What is Northern Oil and Gas's P/FCF?

The price-to-free-cash-flow (P/FCF) multiple of Northern Oil and Gas stock is 1.6×. At Lubin Investment, valuation is judged separately from quality.

Where to see Northern Oil and Gas's full analysis?

The full interactive analysis (10-criteria detail, history, P/FCF valuation, sector comparisons) is available at https://lubin-investment.com/analyse/NOG?lng=en.

Other stocks in the Oil & Gas E&P sector

• Primeenergy Resources (PNRG) — score 10/10, P/FCF 9.3×
• Texas Pacific Land (TPL) — score 9/10, P/FCF 50.2×
• Gulfport Energy (GPOR) — score 9/10, P/FCF 3.3×
• APA Corp (US) (APA) — score 9/10, P/FCF 3.2×
• Range Resources (RRC) — score 9/10, P/FCF 6.3×

Go further

👉 See the full interactive analysis of NOG

Other resources : Detailed methodology · All stocks in the Oil & Gas E&P sector · Stocks rated 10 out of 10 · Top quality companies · Lubin Investment pricing.