EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Northern Oil & Gas's Enterprise Value is $4,662 Mil.
Northern Oil & Gas's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $-201 Mil. Therefore, Northern Oil & Gas's EV-to-FCF for today is -23.18.
The historical rank and industry rank for Northern Oil & Gas's EV-to-FCF or its related term are showing as below:
NOG'
s EV-to-FCF Range Over the Past 10 Years
Min: -57.73 Med: -10.07 Max: 29622.47
Current: -23.18
During the past 13 years, the highest EV-to-FCF of Northern Oil & Gas was 29622.47. The lowest was -57.73. And the median was -10.07.
NOG's EV-to-FCF is ranked worse than 100% of 577
companies
in the Oil & Gas industry
Industry Median: 15.67
vs NOG: -23.18
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Northern Oil & Gas (NYSE:NOG) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Northern Oil & Gas's PE Ratio (TTM) for today is calculated as:
Northern Oil & Gas's share price for today is $19.74.
Northern Oil & Gas's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-6.370.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Northern Oil & Gas EV-to-FCF Related Terms
Northern Oil & Gas EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Northern Oil & Gas's EV-to-FCF 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.
For the Oil & Gas E&P subindustry, Northern Oil & Gas's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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 EV-to-FCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Northern Oil & Gas's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Northern Oil & Gas's EV-to-FCF falls into.
Northern Oil & Gas's current Enterprise Value is $4,662 Mil.
Northern Oil & Gas's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-201 Mil.
* 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 (NOG) has a EV-to-FCF of -23.18 as of Jun. 25, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Northern Oil & Gas and its competitors. According to the industry distribution chart, Northern Oil & Gas ranks #999999 out of 577 companies in the Oil & Gas industry.
Is Northern Oil & Gas' EV-to-FCF too high?
Northern Oil & Gas' current EV-to-FCF is -23.18. Based on the distribution chart, Northern Oil & Gas ranks #999999 out of 577 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Northern Oil & Gas has a GF Score™ of 64/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Northern Oil & Gas' EV-to-FCF compare to MNR and TALO?
According to the Oil & Gas industry distribution chart, Northern Oil & Gas ranks #999999 out of 577 companies for EV-to-FCF. This places Northern Oil & Gas in the lower half of its industry. The industry median EV-to-FCF is 15.67. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for an Oil & Gas company?
The median EV-to-FCF among Oil & Gas companies is 15.67, based on 577 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF 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 EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Northern Oil & Gas and its competitors. For the Oil & Gas industry, the median EV-to-FCF is 15.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northern Oil & Gas's current EV-to-FCF is -23.18. 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 Possible Value Trap. The stock's GF Value™ is $32.01, compared to a current price of $19.74 — trading 38.3% below its estimated fair value. The current EV-to-FCF is -23.18. Northern Oil & Gas' overall GF Score™ is 64/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Northern Oil & Gas (NOG), the current EV-to-FCF is -23.18 as of Jun. 25, 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 $19.74 is trading 38.3% below its estimated GF Value™ of $32.01.
GuruFocus considers Northern Oil & Gas to be Possible Value Trap.
Key valuation signals for NOG:
EV-to-FCF: -23.18
GF Value™: $32.01 vs. price of $19.74 (38.3% 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).
64GF Score
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