Northern Oil & Gas (NOG) FY2020 results: revenue $552 million, up 16.9% on the year
Northern Oil & Gas, Inc. (NOG) reported revenue of $552 million for fiscal 2020, the year ended 31 December 2020, up 16.9% on the year before. Net income was -$906 million, and diluted earnings per share $-21.55. The figures are the company's own, from the 10-K it filed with the SEC on 12 March 2021.
Revenue
$552 million
+16.9% on the year
FY2013FY2020
Operating margin
-152.3%
11.8% a year earlier
FY2013FY2020
Net income
-$906 million
FY2013FY2020
Diluted EPS
-$21.55
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
552
472
679
+16.9%
Cost of revenue
116
119
66.6
-2.2%
Gross profit
436
354
612
+23.3%
Gross margin
78.9%
74.8%
90.2%
Operating income
-841
55.5
433
Operating margin
-152.3%
11.8%
63.7%
Interest expense
58.5
79.2
86.0
-26.2%
Pre-tax income
-906
-76.3
144
Income tax
-0.2
0.0
-0.1
Effective tax rate
n/a
n/a
-0.0%
Net income
-906
-76.3
144
Net margin
-164.1%
-16.2%
21.2%
Diluted EPS
-$21.55
-$2.00
$6.10
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
332
340
244
-2.4%
Capital expenditure
0.3
1.2
0.1
-74.5%
Free cash flow
331
339
244
-2.1%
Free cash flow margin
60.0%
71.7%
36.0%
Cash from investing
-284
-569
-475
Cash from financing
-62.4
243
130
Depreciation and amortisation
n/a
n/a
0.1
Share-based compensation
4.1
8.0
4.0
-48.2%
Buybacks
0.0
15.1
22.2
Dividends paid
0.0
0.0
n/a
Diluted shares, weighted
43m
39m
24m
+10.4%
Shares outstanding at period end
46m
41m
38m
+13.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-223
559
430
Debt
945
1,118
830
-15.5%
Other liabilities
151
229
244
-34.2%
Total liabilities and equity
872
1,905
1,504
-54.2%
Fixed assets
735
1,749
1,203
-58.0%
Cash and equivalents
1.4
16.1
2.4
-91.1%
Receivables
71.0
108
96.4
-34.4%
Other assets
64.4
32.5
202
+98.1%
Total assets
872
1,905
1,504
-54.2%
10-K for the year ended 31 December 2020, filed 12 March 2021: the filing.