Northern Oil & Gas (NOG) FY2019 results: revenue $472 million, down 30.4% on the year
Northern Oil & Gas, Inc. (NOG) reported revenue of $472 million for fiscal 2019, the year ended 31 December 2019, down 30.4% on the year before. Net income was -$76 million, and diluted earnings per share $-2.00. The figures are the company's own, from the 10-K it filed with the SEC on 12 March 2020.
Revenue
$472 million
-30.4% on the year
FY2012FY2019
Operating margin
11.8%
63.7% a year earlier
FY2012FY2019
Net income
-$76 million
FY2012FY2019
Diluted EPS
-$2.00
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
472
679
209
-30.4%
Cost of revenue
119
66.6
49.7
+78.4%
Gross profit
354
612
160
-42.3%
Gross margin
74.8%
90.2%
76.2%
Operating income
55.5
433
60.5
-87.2%
Operating margin
11.8%
63.7%
28.9%
Interest expense
79.2
86.0
70.3
-7.9%
Pre-tax income
-76.3
144
-10.8
Income tax
0.0
-0.1
-1.6
Effective tax rate
n/a
-0.0%
n/a
Net income
-76.3
144
-9.2
Net margin
-16.2%
21.2%
-4.4%
Diluted EPS
-$2.00
$6.10
-$1.50
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
340
244
73.0
+39.1%
Capital expenditure
1.2
0.1
0.0
+1,234.4%
Free cash flow
339
244
73.0
+38.7%
Free cash flow margin
71.7%
36.0%
34.9%
Cash from investing
-569
-475
-119
Cash from financing
243
130
142
+86.4%
Depreciation and amortisation
n/a
0.1
0.2
Share-based compensation
8.0
4.0
3.3
+99.1%
Buybacks
15.1
22.2
0.0
-31.9%
Dividends paid
0.0
n/a
n/a
Diluted shares, weighted
39m
24m
6m
+63.5%
Shares outstanding at period end
41m
38m
7m
+7.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
559
430
-491
+30.0%
Debt
1,118
830
979
+34.7%
Other liabilities
229
244
144
-6.1%
Total liabilities and equity
1,905
1,504
632
+26.7%
Fixed assets
1,749
1,203
473
+45.4%
Cash and equivalents
16.1
2.4
102
+581.5%
Receivables
108
96.4
46.9
+12.4%
Other assets
32.5
202
10.0
-83.9%
Total assets
1,905
1,504
632
+26.7%
10-K for the year ended 31 December 2019, filed 12 March 2020: the filing.