NOGNEUTRAL

NOG Debt-to-Equity Ratio Analysis

1.37x

Updated 156h ago·SEC filings & market data

Key Takeaway

A debt-to-equity ratio of 1.37x means NOG carries $1.37 of debt for every $1 of shareholder equity, indicating a leveraged capital structure.

Sector Performance

74th percentile

NOG

1.37x

Sector Median

0.74x

Sector Avg

2.52x

Prior Period

1.43x(Jul 2026)

↑ Improving

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Deep Analysis

A debt-to-equity ratio of 1.37x means NOG carries $1.37 of debt for every $1 of shareholder equity, indicating a leveraged capital structure.

This is well above the sector median of 0.74x, placing the company at the 74th percentile among peers, so NOG uses more debt than most comparable firms. The year-over-year change is N/A, but the quarter-over-quarter change is -4.2%, and the most recent historical values show a decline from 1.43x to 1.37x. This combination of high leverage with a recent downward trend suggests moderate financial risk that may be easing, creating a cautious opportunity if debt reduction continues. The elevated ratio relative to peers points to higher vulnerability to interest rate or earnings shocks, yet the improving trend offers some offsetting relief. Overall, this metric supports the NEUTRAL verdict because the level is concerning but the direction is favorable, balancing out to no strong bullish or bearish signal.

Frequently Asked Questions

What does the Debt-to-Equity Ratio tell investors about NOG?

Shows how much a company is financing its operations through debt vs shareholder funds. High D/E can amplify returns — and losses.

How is the Debt-to-Equity Ratio calculated?

Debt-to-Equity Ratio is calculated as: Total Debt / Shareholders' Equity.

Who are NOG's closest peers by Debt-to-Equity Ratio?

The closest peers by Debt-to-Equity Ratio include: W (-1.00x), MSCI (-2.37x), SBAC (-2.75x), LCID (-3.08x), TDG (-3.41x).

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Learn More About Debt-to-Equity Ratio

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Debt/Equity Ratio: How Much Debt Is Too Much?

The debt to equity ratio explained: why context, interest coverage, and sector norms matter far more than the raw number when assessing debt risk.

The Formula

Total Debt / Shareholders' Equity

Why It Matters

Shows how much a company is financing its operations through debt vs shareholder funds. High D/E can amplify returns — and losses.