Northern Oil & Gas price to book ratio NOG

Market value divided by the book value of the company's net assets, since 2011.

Today, Oct 23, 2026: 1.5×
8-year median: 2.6×
Against its 8-year history: 27th; percentile: 0 is its lowest day, 100 its highest
8-year range: 0.9× to 26.8×
Peer median: 1.8×

Northern Oil & Gas' price to book ratio is 1.5× as of Oct 23, 2026.

That is below its 8-year median of 2.6×, lower than on 73% of days in the last 8 years.

Over that time it ranged from 0.9× in Oct 2025 to 26.8× in May 2019.

The median for 10 oil and gas producers of a similar size is 1.8×.

Price to book ratio over time

median 2.6×

The dashed line is the 8-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	1.5×	1.0×	1.6×
2025	0.9×	0.9×	1.8×
2024	1.6×	1.5×	2.6×
2023	2.6×	2.5×	4.0×
2022	3.4×	3.4×	18.1×
2021	n/m a value too high to mean anything
2020	10.5×	3.0×	25.9×
2019	18.5×	14.0×	26.8×
2018	n/m a value too high to mean anything
2017	n/m a value too high to mean anything
2016	n/m a value too high to mean anything
2015	10.6×	5.3×	12.2×
2014	5.5×	4.7×	17.0×
2013	15.6×	12.6×	19.6×
2012	18.2×	16.3×	33.8×
2011	30.6×	24.7×	36.5×

Against its peers

Companies in Oil & Gas Exploration & Production nearest Northern Oil & Gas' size, closest first, today.

Company	Price to book ratio
NOGNorthern Oil & Gas	1.5×
GPORGulfport Energy	1.6×
BSMBlack Stone Minerals	3.9×
PARRPAR Pacific	1.9×
HESMHess Midstream	7.6×
BKVBKV	1.0×
CRKComstock Resources	1.6×
KRPKimbell Royalty Partners	3.4×
MNRMach Natural Resources	1.0×
CNXCNX Resources	1.1×
LBLandBridge Co LLC	17.2×
Peer median	1.8×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Northern Oil & Gas

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.