Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Northern Oil & GasNOG 60 Earnings Yield (Joel Greenblatt) % is -10.24% as of Jun. 2026. GuruFocus rates NOG with a GF Score™ of 60/100 and a GF Value™ of $31.31 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,040 Oil & Gas companies, Northern Oil & Gas ranks worse than 82.12% on this metric.
Northern Oil & Gas's Enterprise Value for the quarter that ended in Jun. 2026 was $4,611 Mil.
Northern Oil & Gas's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was $-472 Mil. Northern Oil & Gas's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2026 was -10.24%.
The historical rank and industry rank for Northern Oil & Gas's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
NOG'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -88.41 Med: 6.21 Max: 34.15
Current: -8.67
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Northern Oil & Gas was 34.15%. The lowest was -88.41%. And the median was 6.21%.
NOG's Earnings Yield (Joel Greenblatt) % is ranked worse than 82.12% of 1040
companies
in the Oil & Gas industry
Industry Median: 5.245
vs NOG: -8.67
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Northern Oil & Gas's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2026 was 0.00%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Northern Oil & Gas Earnings Yield (Joel Greenblatt) % Related Terms
Northern Oil & Gas Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Northern Oil & Gas's Earnings Yield (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Northern Oil & Gas Earnings Yield (Joel Greenblatt) % Chart
NOG vs MNR, TALO, BKV: Earnings Yield (Joel Greenblatt) % Comparison
For the Oil & Gas E&P subindustry, Northern Oil & Gas's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Northern Oil & Gas Earnings Yield (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Northern Oil & Gas's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Northern Oil & Gas's Earnings Yield (Joel Greenblatt) % falls into.
Northern Oil & Gas Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Northern Oil & Gass Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
Northern Oil & Gas's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-472 Mil.
What does a Earnings Yield (Joel Greenblatt) % of -10.24% mean?
Northern Oil & Gas (NOG) has a Earnings Yield (Joel Greenblatt) % of -10.24% as of Jun. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Northern Oil & Gas and its competitors. According to the industry distribution chart, Northern Oil & Gas ranks #854 out of 1040 companies in the Oil & Gas industry, placing it in the top 82.1%.
Is Northern Oil & Gas' Earnings Yield (Joel Greenblatt) % too high?
Northern Oil & Gas' current Earnings Yield (Joel Greenblatt) % is -10.24%. Based on the distribution chart, Northern Oil & Gas ranks #854 out of 1040 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Northern Oil & Gas has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Northern Oil & Gas' Earnings Yield (Joel Greenblatt) % compare to MNR and TALO?
According to the Oil & Gas industry distribution chart, Northern Oil & Gas ranks #854 out of 1040 companies for Earnings Yield (Joel Greenblatt) %. This places Northern Oil & Gas in the lower half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 5.25. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Earnings Yield (Joel Greenblatt) % for an Oil & Gas company?
The median Earnings Yield (Joel Greenblatt) % among Oil & Gas companies is 5.25, based on 1,040 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Northern Oil & Gas and its competitors. For the Oil & Gas industry, the median Earnings Yield (Joel Greenblatt) % is 5.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northern Oil & Gas's current Earnings Yield (Joel Greenblatt) % is -10.24%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northern Oil & Gas stock overvalued right now?
Based on GuruFocus' analysis, Northern Oil & Gas (NOG) is currently considered Modestly Undervalued. The stock's GF Value™ is $31.31, compared to a current price of $26.02 — trading 16.9% below its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is -10.24%. Northern Oil & Gas' overall GF Score™ is 60/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Northern Oil & Gas (NOG), the current Earnings Yield (Joel Greenblatt) % is -10.24% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Northern Oil & Gas (NOG) Overvalued in 2026?
Based on GuruFocus' analysis, Northern Oil & Gas stock appears to be undervalued.
The current stock price of $26.02 is trading 16.9% below its estimated GF Value™ of $31.31.
GuruFocus considers Northern Oil & Gas to be Modestly Undervalued.
Key valuation signals for NOG:
Earnings Yield (Joel Greenblatt) %: -10.24%
GF Value™: $31.31 vs. price of $26.02 (16.9% below fair value)
No single metric tells the full story. See the NOG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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).
60GF Score
Get the complete analysis for NOG
Earnings Yield (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NOG has been successfully added to your 
