Northern Oil & Gas Inc
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Penke I guess you are interested in Northern Oil & Gas Inc. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Northern Oil & Gas Inc. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Northern Oil & Gas Inc (30 sec.)

What can you expect buying and holding a share of Northern Oil & Gas Inc? (30 sec.)

How much money do you get?

$1.23

When do you have the money?

1 year

How often do you get paid?

37.5%

What is your share worth?

Current worth

$20.30

Expected worth in 1 year

$33.21

How sure are you?

57.5%

+ What do you gain per year?

Total Gains per Share

$14.14

Return On Investment

32.9%

For what price can you sell your share?

Current Price per Share

$42.97

Expected price per share

$40.45 - $43.29

How sure are you?

50%

1. Valuation of Northern Oil & Gas Inc (5 min.)

Live pricePrice per Share (EOD)

$42.97

Book Value per Share

$20.30

Intrinsic Value Per Share

$-58.46 - $-13.93

Total Value Per Share

$-38.16 - $6.37

My calculation of the intrinsic value of Northern Oil & Gas Inc is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($-0.49) 3Y: ($-1.07) TTM: ($-1.64)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.00) 3Y: ($-0.05) TTM: ($0.55)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$-4.56	$-1.89	$-5.02 - $-1.90
2	$-9.56	$-3.65	$-5.77 - $-1.82
3	$-14.92	$-5.30	$-6.53 - $-1.75
4	$-20.58	$-6.83	$-7.28 - $-1.68
5	$-26.51	$-8.25	$-8.04 - $-1.61
6	$-32.64	$-9.58	$-8.79 - $-1.53
7	$-38.93	$-10.80	$-9.55 - $-1.46
8	$-45.36	$-11.93	$-10.30 - $-1.39
9	$-51.88	$-12.97	$-11.06 - $-1.32
10	$-58.46	$-13.93	$-11.82 - $-1.24

2. Growth of Northern Oil & Gas Inc (5 min.)

Is Northern Oil & Gas Inc growing?

	Current year	Previous year	Grow	Grow %
How rich?	$2b	$392.9m	$1b	73.4%

How much money is Northern Oil & Gas Inc making?

	Current year	Previous year	Grow	Grow %
Making money	$230.7m	$193.3m	$37.4m	16.2%
Net Profit Margin	63.2%	35.6%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of Northern Oil & Gas Inc (5 min.)

4. Comparing to competitors in the Oil & Gas E&P industry (5 min.)

Industry Rankings (Oil & Gas E&P)

Richest
#52 / 363

Most Revenue
#72 / 363

Most Profit
#38 / 363

Most Efficient
#36 / 363

What can you expect buying and holding a share of Northern Oil & Gas Inc? (5 min.)

Welcome investor! Northern Oil & Gas Inc's management wants to use your money to grow the business. In return you get a share of Northern Oil & Gas Inc.

What can you expect buying and holding a share of Northern Oil & Gas Inc?

First you should know what it really means to hold a share of Northern Oil & Gas Inc. And how you can make/lose money.

Speculation

The Price per Share of Northern Oil & Gas Inc is $42.97. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of Northern Oil & Gas Inc.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Northern Oil & Gas Inc, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $20.30. Based on the TTM, the Book Value Change Per Share is $3.23 per quarter. Based on the YOY, the Book Value Change Per Share is $1.31 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.31 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Northern Oil & Gas Inc.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	3.85	9.0%	2.29	5.3%	1.80	4.2%	0.32	0.7%	-0.31	-0.7%
Usd Book Value Change Per Share	6.34	14.8%	3.23	7.5%	1.31	3.1%	0.80	1.9%	0.35	0.8%
Usd Dividend Per Share	0.35	0.8%	0.31	0.7%	0.18	0.4%	0.14	0.3%	0.21	0.5%
Usd Total Gains Per Share	6.69	15.6%	3.54	8.2%	1.50	3.5%	0.94	2.2%	0.56	1.3%
Usd Price Per Share	37.07	-	35.49	-	27.92	-	17.67	-	11.48	-
Price to Earnings Ratio	2.40	-	12.17	-	1.63	-	5.40	-	3.35	-
Price-to-Total Gains Ratio	5.54	-	44.45	-	12.27	-	27.52	-	-0.44	-
Price to Book Ratio	1.83	-	2.52	-	-13.95	-	-3.85	-	-1.35	-
Price-to-Total Gains Ratio	5.54	-	44.45	-	12.27	-	27.52	-	-0.44	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	42.97
Number of shares	23

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.31	0.14
Usd Book Value Change Per Share	3.23	0.80
Usd Total Gains Per Share	3.54	0.94
Gains per Quarter (23 shares)	81.31	21.63
Gains per Year (23 shares)	325.22	86.50

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	28	297	315	13	74	77
2	57	594	640	25	148	164
3	85	891	965	38	221	251
4	113	1188	1290	51	295	338
5	141	1485	1615	64	369	425
6	170	1782	1940	76	443	512
7	198	2079	2265	89	516	599
8	226	2376	2590	102	590	686
9	254	2673	2915	115	664	773
10	283	2970	3240	127	738	860

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	4.0	0.0	0.0	100.0%	9.0	3.0	0.0	75.0%	12.0	8.0	0.0	60.0%	22.0	18.0	0.0	55.0%	44.0	24.0	0.0	64.7%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	10.0	2.0	0.0	83.3%	14.0	6.0	0.0	70.0%	22.0	18.0	0.0	55.0%	43.0	24.0	1.0	63.2%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	14.0	0.0	6.0	70.0%	15.0	0.0	25.0	37.5%	18.0	0.0	50.0	26.5%
Total Gains per Share	4.0	0.0	0.0	100.0%	11.0	1.0	0.0	91.7%	15.0	5.0	0.0	75.0%	23.0	17.0	0.0	57.5%	44.0	23.0	1.0	64.7%

Fundamentals of Northern Oil & Gas Inc

About Northern Oil & Gas Inc

https://www.noginc.com
Oil & Gas E&P
38
4350 Baker Road, Minnetonka, MN, United States, 55343
Google Maps Bing Maps

Northern Oil and Gas, Inc., an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States. The company is based in Minnetonka, Minnesota.

Fundamental data was last updated by Penke on 2024-04-03 20:40:06.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a huge profit.
Using its assets, the company is efficient in making profit.
Using its investors money, the company is efficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is just able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is able to pay all its debts by selling its assets.
The company is just able to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is underpriced.
Based on how much money comes from the company's main activities, the company is expensive.

1.1. Profitability of Northern Oil & Gas Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Northern Oil & Gas Inc earns for each $1 of revenue.

Above 10% is considered healthy but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
A Net Profit Margin of 125.2% means that $1.25 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Northern Oil & Gas Inc:

The MRQ is 125.2%. The company is making a huge profit. +2
The TTM is 63.2%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	125.2%	TTM	63.2%	+62.0%
TTM	63.2%	YOY	35.6%	+27.7%
TTM	63.2%	5Y	-211.5%	+274.8%
5Y	-211.5%	10Y	-169.4%	-42.2%

Compared to industry (Oil & Gas E&P)

Period	Company	Industry (mean)	+/-
MRQ	125.2%	16.3%	+108.9%
TTM	63.2%	12.8%	+50.4%
YOY	35.6%	19.1%	+16.5%
5Y	-211.5%	-15.1%	-196.4%
10Y	-169.4%	-36.7%	-132.7%

Measures how much net profit Northern Oil & Gas Inc earns for each $1 of revenue.

Revenue is the amount of profit Northern Oil & Gas Inc generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Northern Oil & Gas Inc earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
Can be used to compare companies within the Oil & Gas E&P industry.

You typically want a high profit margin. This means that for each $1 in sales, Northern Oil & Gas Inc makes more profit. This shows the investor how efficiently Northern Oil & Gas Inc is operating in general and compared to other companies in the same industry. Northern Oil & Gas Inc operates in the Oil & Gas E&P industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Northern Oil & Gas Inc. If profit margins remain low (compared to the Oil & Gas E&P industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Northern Oil & Gas Inc is 1.25. This means that Northern Oil & Gas Inc earned $1.25 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Oil & Gas E&P industry is 16.3%.
What is the trend?
The trend is important because it shows you how Northern Oil & Gas Inc is performing over time. The most recent quarter might be important if Northern Oil & Gas Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Northern Oil & Gas Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Northern Oil & Gas Inc with other companies in the same industry (Oil & Gas E&P).
Net profit margin should rise over the years.
Can be influenced when Northern Oil & Gas Inc sells assets (profit will increase while costs remain the same).
It won’t show what part of Northern Oil & Gas Inc is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Northern Oil & Gas Inc

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Northern Oil & Gas Inc = 388,853
Total revenue MRQ Northern Oil & Gas Inc = 310,591
$388,853 / $310,591 = 1.25 or 125.2%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Northern Oil & Gas Inc is using its assets to generate profit.

Above 5% is considered healthy but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
8.7% Return on Assets means that Northern Oil & Gas Inc generated $0.09 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Northern Oil & Gas Inc:

The MRQ is 8.7%. Using its assets, the company is efficient in making profit. +1
The TTM is 6.0%. Using its assets, the company is efficient in making profit. +1

Trends

Current period		Compared to		+/-
MRQ	8.7%	TTM	6.0%	+2.7%
TTM	6.0%	YOY	7.5%	-1.5%
TTM	6.0%	5Y	-2.6%	+8.6%
5Y	-2.6%	10Y	-4.6%	+2.1%

Compared to industry (Oil & Gas E&P)

Period	Company	Industry (mean)	+/-
MRQ	8.7%	0.9%	+7.8%
TTM	6.0%	0.9%	+5.1%
YOY	7.5%	1.8%	+5.7%
5Y	-2.6%	-1.3%	-1.3%
10Y	-4.6%	-3.1%	-1.5%

Shows how efficient Northern Oil & Gas Inc is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Northern Oil & Gas Inc is using its resources to generate profit. If the return on assets (8.7%) from Northern Oil & Gas Inc are higher than the Oil & Gas E&P mean (0.9%) that means Northern Oil & Gas Inc is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Northern Oil & Gas Inc is 8.7%. This means the company generated $0.09 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Oil & Gas E&P industry is 0.9%.
What is the trend?
The trend is important because it shows you how Northern Oil & Gas Inc is performing over time. The most recent quarter might be important if Northern Oil & Gas Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Northern Oil & Gas Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Northern Oil & Gas Inc

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Northern Oil & Gas Inc = 388,853
Total assets MRQ (balance sheet) from Northern Oil & Gas Inc = 4,484,255
388,853 / 4,484,255 = 0.09 or 8.7%

ROA is an important ratio as it will tell you how effectively Northern Oil & Gas Inc is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Northern Oil & Gas Inc is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
19.0% Return on Equity means Northern Oil & Gas Inc generated $0.19 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Northern Oil & Gas Inc:

The MRQ is 19.0%. Using its investors money, the company is efficient in making profit. +1
The TTM is 16.3%. Using its investors money, the company is efficient in making profit. +1

Trends

Current period		Compared to		+/-
MRQ	19.0%	TTM	16.3%	+2.7%
TTM	16.3%	YOY	66.6%	-50.3%
TTM	16.3%	5Y	-10.7%	+27.0%
5Y	-10.7%	10Y	-2.5%	-8.2%

Compared to industry (Oil & Gas E&P)

Period	Company	Industry (mean)	+/-
MRQ	19.0%	2.4%	+16.6%
TTM	16.3%	2.2%	+14.1%
YOY	66.6%	4.4%	+62.2%
5Y	-10.7%	-3.4%	-7.3%
10Y	-2.5%	-6.7%	+4.2%

Shows how efficient Northern Oil & Gas Inc is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Oil & Gas E&P industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Northern Oil & Gas Inc is 19.0%. This means Northern Oil & Gas Inc generated $0.19 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Oil & Gas E&P industry is 2.4%.
What is the trend?
The trend is important because it shows you how Northern Oil & Gas Inc is performing over time. The most recent quarter might be important if Northern Oil & Gas Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Northern Oil & Gas Inc up to 10 years back (depending if Northern Oil & Gas Inc existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Northern Oil & Gas Inc

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Northern Oil & Gas Inc = 388,853
Shareholders equity (balance sheet) MRQ Northern Oil & Gas Inc = 2,047,676
388,853 / 2,047,676 = 0.19 or 19.0%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of Northern Oil & Gas Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Northern Oil & Gas Inc is operating .

Measures how much profit Northern Oil & Gas Inc makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
An Operating Margin of 0.4% means the company generated $0.00 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Northern Oil & Gas Inc:

The MRQ is 0.4%. The company is operating inefficient. -1
The TTM is 8.6%. The company is operating less efficient.

Trends

Current period		Compared to		+/-
MRQ	0.4%	TTM	8.6%	-8.3%
TTM	8.6%	YOY	51.3%	-42.7%
TTM	8.6%	5Y	12.2%	-3.6%
5Y	12.2%	10Y	8.3%	+4.0%

Compared to industry (Oil & Gas E&P)

Period	Company	Industry (mean)	+/-
MRQ	0.4%	20.8%	-20.4%
TTM	8.6%	15.4%	-6.8%
YOY	51.3%	30.0%	+21.3%
5Y	12.2%	-2.4%	+14.6%
10Y	8.3%	-16.3%	+24.6%

Measures how efficient Northern Oil & Gas Inc is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Northern Oil & Gas Inc is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Northern Oil & Gas Inc is 0.4%. This means that Northern Oil & Gas Inc earned $0.00 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Oil & Gas E&P industry is 20.8%.
What is the trend?
The trend is important because it shows you how Northern Oil & Gas Inc is performing over time. The most recent quarter might be important if Northern Oil & Gas Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Northern Oil & Gas Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Northern Oil & Gas Inc

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Northern Oil & Gas Inc = 1,118
Total revenue MRQ Northern Oil & Gas Inc = 310,591
$1,118 / $310,591 = 0.00 or 0.4%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Northern Oil & Gas Inc is keeping operating costs low.

Below 1 is considered healthy (always compare to Oil & Gas E&P industry mean).
An Operation Ratio of 1.00 means that the operating costs are $1.00 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Northern Oil & Gas Inc:

The MRQ is 0.996. The company is less efficient in keeping operating costs low.
The TTM is 0.945. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	0.996	TTM	0.945	+0.052
TTM	0.945	YOY	0.365	+0.580
TTM	0.945	5Y	0.783	+0.161
5Y	0.783	10Y	0.781	+0.002

Compared to industry (Oil & Gas E&P)

Period	Company	Industry (mean)	+/-
MRQ	0.996	1.012	-0.016
TTM	0.945	0.989	-0.044
YOY	0.365	0.799	-0.434
5Y	0.783	1.040	-0.257
10Y	0.781	1.149	-0.368

Measures how efficient Northern Oil & Gas Inc is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Northern Oil & Gas Inc is 99.6%. This means that Northern Oil & Gas Inc earned $1.00 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Oil & Gas E&P industry is 1.01.
What is the trend?
The trend is important because it shows you how Northern Oil & Gas Inc is performing over time. The most recent quarter might be important if Northern Oil & Gas Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Northern Oil & Gas Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Northern Oil & Gas Inc

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(299,152 +10,321) \ 310,591 = 1.00

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of Northern Oil & Gas Inc.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Northern Oil & Gas Inc is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Oil & Gas E&P industry mean).
A Current Ratio of 1.32 means the company has $1.32 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Northern Oil & Gas Inc:

The MRQ is 1.321. The company is just able to pay all its short-term debts.
The TTM is 1.066. The company is just able to pay all its short-term debts.

Trends

Current period		Compared to		+/-
MRQ	1.321	TTM	1.066	+0.254
TTM	1.066	YOY	0.759	+0.308
TTM	1.066	5Y	0.825	+0.241
5Y	0.825	10Y	0.854	-0.029

Compared to industry (Oil & Gas E&P)

Period	Company	Industry (mean)	+/-
MRQ	1.321	1.225	+0.096
TTM	1.066	1.163	-0.097
YOY	0.759	1.311	-0.552
5Y	0.825	1.339	-0.514
10Y	0.854	1.707	-0.853

Measures if Northern Oil & Gas Inc is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Oil & Gas E&P industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Northern Oil & Gas Inc if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Northern Oil & Gas Inc is 1.32. This means Northern Oil & Gas Inc has $1.32 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Oil & Gas E&P industry is 1.23.
What is the trend?
The trend is important because it shows you how Northern Oil & Gas Inc is performing over time. The most recent quarter might be important if Northern Oil & Gas Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Northern Oil & Gas Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Northern Oil & Gas Inc

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
509,407 \ 385,761) = 1.32

The current ratio measures if Northern Oil & Gas Inc is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Northern Oil & Gas Inc is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Northern Oil & Gas Inc does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Northern Oil & Gas Inc is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if Northern Oil & Gas Inc is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
A Quick Ratio of 0.99 means the company can pay off $0.99 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Northern Oil & Gas Inc:

The MRQ is 0.990. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 0.792. The company is just not able to pay all its short-term debts with the most liquid assets. -1

Trends

Current period		Compared to		+/-
MRQ	0.990	TTM	0.792	+0.198
TTM	0.792	YOY	0.676	+0.116
TTM	0.792	5Y	0.568	+0.223
5Y	0.568	10Y	0.595	-0.026

Compared to industry (Oil & Gas E&P)

Period	Company	Industry (mean)	+/-
MRQ	0.990	0.654	+0.336
TTM	0.792	0.685	+0.107
YOY	0.676	0.819	-0.143
5Y	0.568	0.872	-0.304
10Y	0.595	1.079	-0.484

Measures if Northern Oil & Gas Inc is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Northern Oil & Gas Inc can pay off its short term debts. This shows if Northern Oil & Gas Inc can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Northern Oil & Gas Inc is 0.99. This means that Northern Oil & Gas Inc can pay off $0.99 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Oil & Gas E&P industry is 0.65.
What is the trend?
The trend is important because it shows you how Northern Oil & Gas Inc is performing over time. The most recent quarter might be important if Northern Oil & Gas Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Northern Oil & Gas Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example Northern Oil & Gas Inc

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Northern Oil & Gas Inc: (8,195 + 0 +373,780) / 385,761 = 0.99

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of Northern Oil & Gas Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Northern Oil & Gas Inc assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Northern Oil & Gas Inc to Oil & Gas E&P industry mean.
A Debt to Asset Ratio of 0.54 means that Northern Oil & Gas Inc assets are financed with 54.3% credit (debt) and the remaining percentage (100% - 54.3%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Northern Oil & Gas Inc:

The MRQ is 0.543. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.629. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.543	TTM	0.629	-0.086
TTM	0.629	YOY	0.850	-0.221
TTM	0.629	5Y	0.850	-0.220
5Y	0.850	10Y	1.084	-0.234

Compared to industry (Oil & Gas E&P)

Period	Company	Industry (mean)	+/-
MRQ	0.543	0.419	+0.124
TTM	0.629	0.419	+0.210
YOY	0.850	0.424	+0.426
5Y	0.850	0.465	+0.385
10Y	1.084	0.447	+0.637

Measures how much % of Northern Oil & Gas Inc assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Northern Oil & Gas Inc than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Northern Oil & Gas Inc to Oil & Gas E&P industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Northern Oil & Gas Inc is 0.54. This means means that Northern Oil & Gas Inc is financed with 54.3% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Oil & Gas E&P industry is 122.5%.
What is the trend?
The trend is important because it shows you how Northern Oil & Gas Inc is performing over time. The most recent quarter might be important if Northern Oil & Gas Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Northern Oil & Gas Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Northern Oil & Gas Inc has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Northern Oil & Gas Inc

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
2,436,579 \ 4,484,255 = 54.3% or 0.54.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Northern Oil & Gas Inc is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
A Debt to Equity ratio of 119.0% means that company has $1.19 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Northern Oil & Gas Inc:

The MRQ is 1.190. The company is able to pay all its debts with equity. +1
The TTM is 1.756. The company is just able to pay all its debts with equity.

Trends

Current period		Compared to		+/-
MRQ	1.190	TTM	1.756	-0.566
TTM	1.756	YOY	4.676	-2.920
TTM	1.756	5Y	2.621	-0.864
5Y	2.621	10Y	4.040	-1.420

Compared to industry (Oil & Gas E&P)

Period	Company	Industry (mean)	+/-
MRQ	1.190	0.593	+0.597
TTM	1.756	0.600	+1.156
YOY	4.676	0.671	+4.005
5Y	2.621	0.800	+1.821
10Y	4.040	0.772	+3.268

Measures if Northern Oil & Gas Inc is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Northern Oil & Gas Inc is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Northern Oil & Gas Inc is 1.19. This means that Northern Oil & Gas Inc can pay off $1.19 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Oil & Gas E&P industry is 0.59.
What is the trend?
The trend is important because it shows you how Northern Oil & Gas Inc is performing over time. The most recent quarter might be important if Northern Oil & Gas Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Northern Oil & Gas Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Northern Oil & Gas Inc

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
2,436,579 \ 2,047,676 = 1.19 or 119.0%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of Northern Oil & Gas Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Northern Oil & Gas Inc generates.

Above 15 is considered overpriced but always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
A PE ratio of 2.40 means the investor is paying $2.40 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Northern Oil & Gas Inc:

The EOD is 2.787. Based on the earnings, the company is cheap. +2
The MRQ is 2.404. Based on the earnings, the company is cheap. +2
The TTM is 12.166. Based on the earnings, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	2.787	MRQ	2.404	+0.383
MRQ	2.404	TTM	12.166	-9.762
TTM	12.166	YOY	1.633	+10.534
TTM	12.166	5Y	5.404	+6.762
5Y	5.404	10Y	3.350	+2.054

Compared to industry (Oil & Gas E&P)

Period	Company	Industry (mean)	+/-
EOD	2.787	1.915	+0.872
MRQ	2.404	1.547	+0.857
TTM	12.166	1.310	+10.856
YOY	1.633	1.332	+0.301
5Y	5.404	-1.201	+6.605
10Y	3.350	-1.330	+4.680

Measures how much money you pay for each share for every $1 in earnings Northern Oil & Gas Inc generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Northern Oil & Gas Inc to the Oil & Gas E&P industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Northern Oil & Gas Inc is 2.40. This means the investor is paying $2.40 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Oil & Gas E&P industry is 1.55.
What is the trend?
The trend is important because it shows you how Northern Oil & Gas Inc is performing over time. The most recent quarter might be important if Northern Oil & Gas Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Northern Oil & Gas Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Northern Oil & Gas Inc

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 99,814 = EPS
PE ratio MRQ = 2.40

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Northern Oil & Gas Inc:

The EOD is -57.988. Based on how much money comes from the company's main activities, the company is expensive. -2
The MRQ is -50.026. Based on how much money comes from the company's main activities, the company is expensive. -2
The TTM is -17.495. Based on how much money comes from the company's main activities, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	-57.988	MRQ	-50.026	-7.962
MRQ	-50.026	TTM	-17.495	-32.531
TTM	-17.495	YOY	-6.922	-10.573
TTM	-17.495	5Y	-7.316	-10.180
5Y	-7.316	10Y	-4.223	-3.092

Compared to industry (Oil & Gas E&P)

Period	Company	Industry (mean)	+/-
EOD	-57.988	0.024	-58.012
MRQ	-50.026	0.019	-50.045
TTM	-17.495	-0.614	-16.881
YOY	-6.922	-1.045	-5.877
5Y	-7.316	-2.300	-5.016
10Y	-4.223	-4.351	+0.128

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Northern Oil & Gas Inc is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Oil & Gas E&P industry mean).
A PB ratio of 1.83 means the investor is paying $1.83 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Northern Oil & Gas Inc:

The EOD is 2.117. Based on the equity, the company is underpriced. +1
The MRQ is 1.826. Based on the equity, the company is underpriced. +1
The TTM is 2.519. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	2.117	MRQ	1.826	+0.291
MRQ	1.826	TTM	2.519	-0.693
TTM	2.519	YOY	-13.947	+16.466
TTM	2.519	5Y	-3.848	+6.367
5Y	-3.848	10Y	-1.348	-2.501

Compared to industry (Oil & Gas E&P)

Period	Company	Industry (mean)	+/-
EOD	2.117	1.083	+1.034
MRQ	1.826	1.022	+0.804
TTM	2.519	1.056	+1.463
YOY	-13.947	1.299	-15.246
5Y	-3.848	1.204	-5.052
10Y	-1.348	1.352	-2.700

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Northern Oil & Gas Inc.

3.1. Institutions holding Northern Oil & Gas Inc

Institutions are holding 101.608% of the shares of Northern Oil & Gas Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	BlackRock Inc	13.5951	0.013	13713823	1324324	10.6891
2023-09-30	Vanguard Group Inc	7.6927	0.0077	7759894	1635739	26.7096
2023-09-30	FMR Inc	6.8089	0.0239	6868399	-284276	-3.9744
2023-09-30	State Street Corporation	4.5845	0.0104	4624539	201541	4.5567
2023-12-31	Amvescap Plc.	3.8694	0.0344	3903192	117016	3.0906
2023-12-31	American Century Companies Inc	3.8041	0.0978	3837280	1274884	49.7536
2023-12-31	Copeland Capital Management, LLC	2.1458	1.6083	2164492	-56554	-2.5463
2023-12-31	Adage Capital Partners Gp LLC	2.0941	0.1621	2112361	666844	46.1319
2023-09-30	Westwood Holdings Group Inc	1.737	0.6575	1752182	-67378	-3.703
2023-09-30	Geode Capital Management, LLC	1.638	0.0079	1652291	158525	10.6124
2023-12-31	Westfield Capital Management Company, LP	1.5244	0.3322	1537719	131448	9.3473
2023-09-30	Nuveen Asset Management, LLC	1.4441	0.0206	1456663	8364	0.5775
2023-12-31	Principal Financial Group Inc	1.3942	0.0332	1406354	24898	1.8023
2023-12-31	Dimensional Fund Advisors, Inc.	1.3638	0.0149	1375710	324958	30.9262
2023-12-31	Allspring Global Investments Holdings, LLC	1.3434	0.0833	1355167	670	0.0495
2023-09-30	Goldman Sachs Group Inc	1.2365	0.0101	1247282	-49238	-3.7977
2023-09-30	Bank of New York Mellon Corp	1.2012	0.0107	1211729	119998	10.9915
2023-09-30	AllianceBernstein L.P.	1.1972	0.0207	1207697	227968	23.2685
2023-09-30	Morgan Stanley - Brokerage Accounts	1.1883	0.0049	1198710	253349	26.7992
2023-12-31	Palisade Capital Management LLc	1.0656	1.0567	1074887	-126432	-10.5244
Total		60.9283	4.2103	61460371	+5886648	+9.6%

3.2. Funds holding Northern Oil & Gas Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	iShares Core S&P Small-Cap ETF	6.1742	0.2873	6228094	8712	0.1401
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.7741	0.0065	2798274	-7896	-0.2814
2024-02-29	Vanguard Small Cap Index	2.31	0.0592	2330208	21533	0.9327
2024-02-29	SPDR® S&P Oil & Gas Explor & Prodtn ETF	2.1988	2.2759	2217959	-13300	-0.5961
2024-02-29	iShares Russell 2000 ETF	2.101	0.1214	2119358	-346	-0.0163
2023-12-31	American Century Small Cap Value Inv	2.067	1.3118	2085000	720000	52.7473
2023-12-31	American Century U.S. Small Cap Value	2.067	1.314	2085000	720000	52.7473
2024-02-29	Invesco Small Cap Value A	1.7721	1.5546	1787580	36700	2.0961
2023-12-31	Fidelity Low-Priced Stock	1.6703	0.227	1684911	368300	27.9733
2023-12-31	Fidelity Series Small Cap Opps	1.471	1.0084	1483845	-38700	-2.5418
2024-02-29	Avantis US Small Cap Value ETF	1.378	0.4908	1390016	570	0.041
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	1.3345	0.0471	1346199	1948	0.1449
2024-02-29	Vanguard Small Cap Growth Index Inv	1.2945	0.1337	1305834	14926	1.1562
2023-12-31	Fidelity Small Cap Growth	1.2278	0.804	1238521	28900	2.3892
2024-02-29	Allspring Special Small Cap Value A	1.0697	0.6863	1079070	0	0
2024-02-29	Invesco Discovery A	1.054	0.8735	1063232	6070	0.5742
2023-12-31	Invesco OFI Small Cap Growth	1.0195	0.9879	1028419	116314	12.7523
2024-02-29	iShares S&P Small-Cap 600 Growth ETF	0.8918	0.5616	899603	0	0
2023-12-31	Fidelity Small Cap Index	0.8672	0.1276	874727	71419	8.8906
2024-02-29	SPDR® Portfolio S&P 600 Sm Cap ETF	0.8187	0.2874	825798	168	0.0203
Total		35.5612	13.166	35871648	+2055318	+5.7%

3.3. Insider Transactions

Insiders are holding 7.327% of the shares of Northern Oil & Gas Inc.

Date	Owner	Type	Amount	Price
2024-03-15	James B Evans	SELL	945	38
2024-03-15	Adam A Dirlam	SELL	2088	38
2024-02-22	Adam A Dirlam	SELL	696	35
2024-02-22	James B Evans	SELL	315	35
2024-01-09	Nicholas L O'grady	SELL	3750	35.63
2023-12-01	Adam A Dirlam	SELL	1392	37.62
2023-12-01	James B Evans	SELL	630	37.62
2023-10-16	Chad W Allen	SELL	7560	40.53
2023-10-09	Nicholas L O'grady	SELL	28950	39.96
2023-10-09	James B Evans	SELL	630	39.79
2023-10-02	Adam A Dirlam	SELL	1392	40.28
2023-09-18	Adam A Dirlam	SELL	1392	40.5
2023-08-25	Erik J Romslo	SELL	7500	40.73
2023-08-07	Bahram Akradi	SELL	110291	41.93
2023-08-03	Chad W Allen	SELL	4800	40.32
2023-08-03	James B Evans	SELL	4000	40.45
2023-07-31	Chad W Allen	SELL	200	40.02
2023-07-31	James B Evans	SELL	1000	40
2023-07-27	Nicholas L O'grady	SELL	22500	39.06

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Northern Oil & Gas Inc compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	6.343	3.228	+97%	1.314	+383%	0.802	+691%	0.354	+1693%
Book Value Per Share	-	-	20.300	14.670	+38%	3.895	+421%	4.866	+317%	2.303	+782%
Current Ratio	-	-	1.321	1.066	+24%	0.759	+74%	0.825	+60%	0.854	+55%
Debt To Asset Ratio	-	-	0.543	0.629	-14%	0.850	-36%	0.850	-36%	1.084	-50%
Debt To Equity Ratio	-	-	1.190	1.756	-32%	4.676	-75%	2.621	-55%	4.040	-71%
Dividend Per Share	-	-	0.349	0.307	+14%	0.182	+92%	0.138	+153%	0.207	+69%
Eps	-	-	3.855	2.287	+69%	1.804	+114%	0.319	+1109%	-0.308	+108%
Free Cash Flow Per Share	-	-	-0.185	-1.641	+786%	-1.069	+477%	-0.730	+294%	-0.492	+166%
Free Cash Flow To Equity Per Share	-	-	0.122	0.056	+117%	0.089	+37%	0.053	+132%	0.023	+422%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Intrinsic Value_10Y_max	-	-	-13.928	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-58.459	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	-1.888	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	-4.565	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	-5.297	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	-14.916	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	-8.254	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-26.505	-	-	-	-	-	-	-	-
Market Cap	4334512810.000	+14%	3739362110.000	3580234952.500	+4%	2816374160.000	+33%	1782688179.800	+110%	1158455793.900	+223%
Net Profit Margin	-	-	1.252	0.632	+98%	0.356	+252%	-2.115	+269%	-1.694	+235%
Operating Margin	-	-	0.004	0.086	-96%	0.513	-99%	0.122	-97%	0.083	-96%
Operating Ratio	-	-	0.996	0.945	+5%	0.365	+173%	0.783	+27%	0.781	+28%
Pb Ratio	2.117	+14%	1.826	2.519	-27%	-13.947	+864%	-3.848	+311%	-1.348	+174%
Pe Ratio	2.787	+14%	2.404	12.166	-80%	1.633	+47%	5.404	-56%	3.350	-28%
Price Per Share	42.970	+14%	37.070	35.493	+4%	27.920	+33%	17.673	+110%	11.484	+223%
Price To Free Cash Flow Ratio	-57.988	-16%	-50.026	-17.495	-65%	-6.922	-86%	-7.316	-85%	-4.223	-92%
Price To Total Gains Ratio	6.420	+14%	5.539	44.453	-88%	12.274	-55%	27.516	-80%	-0.442	+108%
Quick Ratio	-	-	0.990	0.792	+25%	0.676	+47%	0.568	+74%	0.595	+67%
Return On Assets	-	-	0.087	0.060	+44%	0.075	+16%	-0.026	+130%	-0.046	+153%
Return On Equity	-	-	0.190	0.163	+17%	0.666	-71%	-0.107	+156%	-0.025	+113%
Total Gains Per Share	-	-	6.693	3.535	+89%	1.495	+348%	0.940	+612%	0.560	+1094%
Usd Book Value	-	-	2047676000.000	1479833000.000	+38%	392926250.000	+421%	490871250.000	+317%	232292392.800	+782%
Usd Book Value Change Per Share	-	-	6.343	3.228	+97%	1.314	+383%	0.802	+691%	0.354	+1693%
Usd Book Value Per Share	-	-	20.300	14.670	+38%	3.895	+421%	4.866	+317%	2.303	+782%
Usd Dividend Per Share	-	-	0.349	0.307	+14%	0.182	+92%	0.138	+153%	0.207	+69%
Usd Eps	-	-	3.855	2.287	+69%	1.804	+114%	0.319	+1109%	-0.308	+108%
Usd Free Cash Flow	-	-	-18687000.000	-165482750.000	+786%	-107839500.000	+477%	-73611250.000	+294%	-49629125.250	+166%
Usd Free Cash Flow Per Share	-	-	-0.185	-1.641	+786%	-1.069	+477%	-0.730	+294%	-0.492	+166%
Usd Free Cash Flow To Equity Per Share	-	-	0.122	0.056	+117%	0.089	+37%	0.053	+132%	0.023	+422%
Usd Market Cap	4334512810.000	+14%	3739362110.000	3580234952.500	+4%	2816374160.000	+33%	1782688179.800	+110%	1158455793.900	+223%
Usd Price Per Share	42.970	+14%	37.070	35.493	+4%	27.920	+33%	17.673	+110%	11.484	+223%
Usd Profit	-	-	388853000.000	230742500.000	+69%	193309250.000	+101%	36010300.000	+980%	-6260021.075	+102%
Usd Revenue	-	-	310591000.000	367976750.000	-16%	496449500.000	-37%	267905250.000	+16%	171750512.925	+81%
Usd Total Gains Per Share	-	-	6.693	3.535	+89%	1.495	+348%	0.940	+612%	0.560	+1094%
	EOD	+5 -3	MRQ	TTM	+30 -5	YOY	+27 -8	5Y	+30 -5	10Y	+31 -4

4.2. Fundamental Score

Let's check the fundamental score of Northern Oil & Gas Inc based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	2.787
Price to Book Ratio (EOD)	Between	0-1	2.117
Net Profit Margin (MRQ)	Greater than	0	1.252
Operating Margin (MRQ)	Greater than	0	0.004
Quick Ratio (MRQ)	Greater than	1	0.990
Current Ratio (MRQ)	Greater than	1	1.321
Debt to Asset Ratio (MRQ)	Less than	1	0.543
Debt to Equity Ratio (MRQ)	Less than	1	1.190
Return on Equity (MRQ)	Greater than	0.15	0.190
Return on Assets (MRQ)	Greater than	0.05	0.087
Total			7/10 (70.0%)

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4.3. Technical Score

Let's check the technical score of Northern Oil & Gas Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	72.465
Ma 20	Greater than	Ma 50	41.693
Ma 50	Greater than	Ma 100	38.211
Ma 100	Greater than	Ma 200	36.586
Open	Greater than	Close	43.140
Total			4/5 (80.0%)

Create your own Symbol Scanner

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Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in USD. All numbers in thousands.

Summary

Total Assets	4,484,255
Total Liabilities	2,436,579
Total Stockholder Equity	2,047,676

	As reported
Total Liabilities	2,436,579
Total Stockholder Equity	+ 2,047,676
Total Assets	= 4,484,255

Assets

Total Assets	4,484,255
Total Current Assets	509,407
Long-term Assets	3,974,848

Total Current Assets

Total Current Assets (as reported)	509,407
Cash And Cash Equivalents	8,195
Net Receivables	373,780
Other Current Assets	127,432
Total Current Assets (calculated)	509,407
+/-	0

Long-term Assets

Long-term Assets (as reported)	3,974,848
Property Plant Equipment	3,931,563
Long-term Assets Other	30,160
Long-term Assets (calculated)	3,961,723
+/-	13,125

Liabilities & Shareholders' Equity

Total Current Liabilities	385,761
Long-term Liabilities	2,050,818
Total Stockholder Equity	2,047,676

Total Current Liabilities

Total Current Liabilities (as reported)	385,761
Accounts payable	192,672
Other Current Liabilities	193,089
Total Current Liabilities (calculated)	385,761
+/-	0

Long-term Liabilities

Long-term Liabilities (as reported)	2,050,818
Long term Debt	1,835,554
Long-term Liabilities Other	2,742
Long-term Liabilities (calculated)	1,838,296
+/-	212,522

Total Stockholder Equity

Total Stockholder Equity (as reported)	2,047,676
Common Stock	503
Retained Earnings	-77,790
Other Stockholders Equity	2,124,963
Total Stockholder Equity (calculated)	2,047,676
+/-	0

Other

Capital Stock	503
Cash and Short Term Investments	8,195
Common Stock Shares Outstanding	99,814
Liabilities and Stockholders Equity	4,484,255
Net Debt	1,827,359
Net Invested Capital	3,883,230
Net Working Capital	123,646
Property Plant and Equipment Gross	8,473,372
Short Long Term Debt Total	1,835,554

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

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2013-12-31

2013-09-30

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2012-12-31

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2011-12-31

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2007-06-30

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2005-09-30

2005-06-30

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2004-12-31

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2004-06-30

2004-03-31

2003-12-31

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2003-06-30

2003-03-31

2002-12-31

2002-09-30

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2002-03-31

2001-12-31

2001-09-30

2001-06-30

2001-03-31

2000-12-31

2000-09-30

2000-06-30

2000-03-31

1999-09-30

> Total Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,797
2,691
18,314
18,131
20,910
51,286
38,334
67,089
62,876
96,090
83,054
135,595
148,549
261,784
261,784
240,874
514,428
555,282
595,972
725,594
869,808
1,073,598
1,135,216
1,190,935
1,263,731
1,352,563
1,452,736
1,519,600
1,598,047
1,734,183
1,796,575
2,026,746
1,640,665
1,338,767
1,001,236
733,945
573,189
465,384
410,372
431,533
449,245
481,306
494,366
632,254
664,470
883,083
1,068,949
1,503,645
1,395,779
1,494,391
1,902,009
1,905,465
2,237,386
1,263,273
1,025,524
872,089
873,243
1,091,810
1,244,062
1,522,866
2,024,469
2,192,235
2,471,476
2,875,178
3,342,866
3,664,749
4,304,666
4,484,255

4,484,255

4,304,666

3,664,749

3,342,866

2,875,178

2,471,476

2,192,235

2,024,469

1,522,866

1,244,062

1,091,810

873,243

872,089

1,025,524

1,263,273

2,237,386

1,905,465

1,902,009

1,494,391

1,395,779

1,503,645

1,068,949

883,083

664,470

632,254

494,366

481,306

449,245

431,533

410,372

465,384

573,189

733,945

1,001,236

1,338,767

1,640,665

2,026,746

1,796,575

1,734,183

1,598,047

1,519,600

1,452,736

1,352,563

1,263,731

1,190,935

1,135,216

1,073,598

869,808

725,594

595,972

555,282

514,428

240,874

261,784

148,549

135,595

83,054

96,090

62,876

67,089

38,334

51,286

20,910

18,131

18,314

2,691

2,797

> Total Current Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
100
987
769
11,821
10,503
5,963
8,541
17,605
5,671
5,193
21,876
9,638
42,018
34,204
65,966
65,966
90,597
179,984
135,654
90,067
80,505
85,757
117,107
96,654
94,215
94,137
97,961
118,814
104,388
104,685
128,204
106,448
225,988
212,175
175,634
189,204
128,815
79,138
59,593
46,322
46,894
48,188
60,669
53,470
152,758
147,020
275,983
224,740
228,415
126,461
133,068
172,110
133,037
354,847
205,094
183,749
125,629
102,424
139,664
167,583
215,328
323,456
382,795
376,694
320,485
395,941
385,753
469,626
509,407

509,407

469,626

385,753

395,941

320,485

376,694

382,795

323,456

215,328

167,583

139,664

102,424

125,629

183,749

205,094

354,847

133,037

172,110

133,068

126,461

228,415

224,740

275,983

147,020

152,758

53,470

60,669

48,188

46,894

46,322

59,593

79,138

128,815

189,204

175,634

212,175

225,988

106,448

128,204

104,685

104,388

118,814

97,961

94,137

94,215

96,654

117,107

85,757

80,505

90,067

135,654

179,984

90,597

65,966

34,204

42,018

9,638

21,876

5,193

5,671

17,605

8,541

5,963

10,503

11,821

769

987

100

Cash And Cash Equivalents

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
100
924
581
11,440
10,113
1,968
6,772
12,367
640
781
13,635
288
6,233
1,154
39,487
39,487
70,168
99,705
77,379
8,266
6,280
3,835
25,172
8,235
13,388
8,482
18,095
11,869
5,687
8,109
14,252
8,049
9,338
5,741
7,112
7,042
3,390
4,388
3,667
3,319
6,486
5,519
3,809
6,777
102,183
89,473
200,924
112,966
2,358
3,944
2,794
1,901
16,068
8,512
1,838
1,803
1,428
2,729
4,843
2,006
9,519
3,335
1,471
9,129
2,528
6,073
14,805
12,952
8,195

8,195

12,952

14,805

6,073

2,528

9,129

1,471

3,335

9,519

2,006

4,843

2,729

1,428

1,803

1,838

8,512

16,068

1,901

2,794

3,944

2,358

112,966

200,924

89,473

102,183

6,777

3,809

5,519

6,486

3,319

3,667

4,388

3,390

7,042

7,112

5,741

9,338

8,049

14,252

8,109

5,687

11,869

18,095

8,482

13,388

8,235

25,172

3,835

6,280

8,266

77,379

99,705

70,168

39,487

1,154

6,233

288

13,635

781

640

12,367

6,772

1,968

10,113

11,440

581

924

100

Short-term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,659
3,389
3,389
0
0
2,575
1,821
24,903
17,484
0
0
39,727
24,867
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

24,867

39,727

17,484

24,903

1,821

2,575

3,389

3,659

Net Receivables

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
52
0
0
220
1,541
917
2,688
2,903
3,679
5,989
7,025
8,232
17,841
17,841
11,312
27,027
35,586
44,561
51,419
61,366
66,064
79,325
70,220
75,890
69,571
92,201
86,817
82,202
90,925
88,575
85,932
78,592
82,406
91,294
58,230
29,705
40,559
32,856
37,242
35,347
37,387
40,581
47,637
52,069
69,058
91,261
97,558
91,714
88,092
103,646
108,484
98,000
43,828
60,067
71,015
94,804
131,165
158,047
193,554
297,754
360,859
318,139
271,674
274,399
265,537
363,516
373,780

373,780

363,516

265,537

274,399

271,674

318,139

360,859

297,754

193,554

158,047

131,165

94,804

71,015

60,067

43,828

98,000

108,484

103,646

88,092

91,714

97,558

91,261

69,058

52,069

47,637

40,581

37,387

35,347

37,242

32,856

40,559

29,705

58,230

91,294

82,406

78,592

85,932

88,575

90,925

82,202

86,817

92,201

69,571

75,890

70,220

79,325

66,064

61,366

51,419

44,561

35,586

27,027

11,312

17,841

8,232

7,025

5,989

3,679

2,903

2,688

917

1,541

220

Other Current Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
63
112
381
390
116
82
932
2,343
0
1,988
874
201
313
304
304
1,341
754
211
290
317
390
241
280
1,115
209
2,801
2,160
771
1,064
1,735
1,793
895
1,269
1,541
984
893
766
1,251
1,201
1,584
2,472
2,906
2,279
2,333
2,455
5,585
17,961
12,360
12,182
8,226
1
1,964
2,216
2,204
1,697
1,420
2,455
2,705
2,393
3,417
22,367
20,465
49,426
2,014
2,328
2,488
2,567
127,432

127,432

2,567

2,488

2,328

2,014

49,426

20,465

22,367

3,417

2,393

2,705

2,455

1,420

1,697

2,204

2,216

1,964

8,226

12,182

12,360

17,961

5,585

2,455

2,333

2,279

2,906

2,472

1,584

1,201

1,251

766

893

984

1,541

1,269

895

1,793

1,735

1,064

771

2,160

2,801

209

1,115

280

241

390

317

290

211

754

1,341

304

313

201

874

1,988

2,343

932

116

390

381

112

> Long-term Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
200
1,810
1,923
6,492
7,629
14,947
42,744
20,729
61,418
57,682
74,214
73,416
93,577
114,345
195,818
195,818
150,278
334,444
419,628
505,905
645,089
784,051
956,490
1,038,561
1,096,721
1,169,595
1,254,601
1,333,921
1,415,212
1,493,362
1,605,979
1,690,126
1,800,759
1,428,489
1,163,133
812,032
605,131
494,051
405,792
364,050
384,639
401,056
420,636
440,896
479,496
517,450
607,099
844,209
1,275,231
1,269,318
1,361,324
1,729,899
1,772,428
1,882,539
1,058,179
841,775
746,460
770,819
952,146
1,076,479
1,307,538
1,701,013
1,809,440
2,094,782
2,554,693
2,946,926
3,278,995
3,835,040
3,974,848

3,974,848

3,835,040

3,278,995

2,946,926

2,554,693

2,094,782

1,809,440

1,701,013

1,307,538

1,076,479

952,146

770,819

746,460

841,775

1,058,179

1,882,539

1,772,428

1,729,899

1,361,324

1,269,318

1,275,231

844,209

607,099

517,450

479,496

440,896

420,636

401,056

384,639

364,050

405,792

494,051

605,131

812,032

1,163,133

1,428,489

1,800,759

1,690,126

1,605,979

1,493,362

1,415,212

1,333,921

1,254,601

1,169,595

1,096,721

1,038,561

956,490

784,051

645,089

505,905

419,628

334,444

150,278

195,818

114,345

93,577

73,416

74,214

57,682

61,418

20,729

42,744

14,947

7,629

6,492

1,923

1,810

200

Property Plant Equipment

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,810
1,913
6,492
7,629
14,947
39,423
20,729
57,194
55,233
71,838
71,349
92,150
113,068
194,372
194,372
148,752
333,166
418,441
501,695
643,703
780,417
933,180
1,024,066
1,083,245
1,157,032
1,230,490
1,316,118
1,397,307
1,477,444
1,590,928
1,669,443
1,761,927
1,400,995
1,115,692
757,175
589,320
485,359
396,891
355,364
376,208
390,803
407,940
433,409
473,220
510,667
601,013
817,981
1,202,745
1,240,691
1,293,282
1,676,955
1,748,593
1,773,801
1,009,083
823,002
735,204
742,385
930,080
1,064,509
1,253,342
1,689,545
1,771,252
2,015,060
2,482,926
2,915,941
3,216,980
3,788,636
3,931,563

3,931,563

3,788,636

3,216,980

2,915,941

2,482,926

2,015,060

1,771,252

1,689,545

1,253,342

1,064,509

930,080

742,385

735,204

823,002

1,009,083

1,773,801

1,748,593

1,676,955

1,293,282

1,240,691

1,202,745

817,981

601,013

510,667

473,220

433,409

407,940

390,803

376,208

355,364

396,891

485,359

589,320

757,175

1,115,692

1,400,995

1,761,927

1,669,443

1,590,928

1,477,444

1,397,307

1,316,118

1,230,490

1,157,032

1,083,245

1,024,066

933,180

780,417

643,703

501,695

418,441

333,166

148,752

194,372

113,068

92,150

71,349

71,838

55,233

57,194

20,729

39,423

14,947

7,629

6,492

1,913

1,810

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
25,013
0
0
0
0
0
20
20
0
2,058
4,557
817
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

817

4,557

2,058

25,013

Other Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10
0
0
0
0
3,321
2,449
4,225
2,376
2,067
1,427
1,277
1,526
1,447
1,367
1,278
1,187
4,210
1,386
3,634
23,310
14,496
13,476
12,563
24,112
17,804
17,905
15,918
15,051
20,683
38,832
27,495
47,441
54,857
15,810
8,692
8,901
8,686
8,430
10,254
12,696
7,487
6,276
6,783
6,087
26,228
72,486
23,627
-1
48,144
23,835
108,738
49,096
18,773
744,009
28,434
22,066
11,970
54,196
11,468
38,188
79,722
71,767
-1
1
-3,835,040
0

-3,835,040

-1

71,767

79,722

38,188

11,468

54,196

11,970

22,066

28,434

744,009

18,773

49,096

108,738

23,835

48,144

-1

23,627

72,486

26,228

6,087

6,783

6,276

7,487

12,696

10,254

8,430

8,686

8,901

8,692

15,810

54,857

47,441

27,495

38,832

20,683

15,051

15,918

17,905

17,804

24,112

12,563

13,476

14,496

23,310

3,634

1,386

4,210

1,187

1,278

1,367

1,447

1,526

1,277

1,427

2,067

2,376

4,225

2,449

3,321

> Total Liabilities

0
0
0
4
5
7
7
7
8
10
10
10
11
11
13
13
13
14
16
26
44
51
28
29
31
35
36
37
39
33
114
0
224
2,194
4,377
3,326
17,441
13,411
34,257
18,918
12,036
21,743
29,362
29,362
17,938
77,977
93,742
101,473
229,024
359,761
515,358
569,840
604,750
667,070
729,107
851,871
899,772
984,819
1,124,724
1,128,264
1,255,885
1,097,788
1,044,975
1,029,578
931,548
895,694
895,181
886,433
918,955
919,335
936,777
964,970
1,123,094
1,153,247
1,030,903
1,057,739
1,073,780
1,083,019
1,104,743
1,387,895
1,346,822
1,228,379
1,122,545
1,109,255
1,095,393
1,053,926
1,260,027
1,401,773
1,307,732
2,059,771
2,039,585
1,762,379
2,129,918
2,294,800
2,248,952
2,896,873
2,436,579

2,436,579

2,896,873

2,248,952

2,294,800

2,129,918

1,762,379

2,039,585

2,059,771

1,307,732

1,401,773

1,260,027

1,053,926

1,095,393

1,109,255

1,122,545

1,228,379

1,346,822

1,387,895

1,104,743

1,083,019

1,073,780

1,057,739

1,030,903

1,153,247

1,123,094

964,970

936,777

919,335

918,955

886,433

895,181

895,694

931,548

1,029,578

1,044,975

1,097,788

1,255,885

1,128,264

1,124,724

984,819

899,772

851,871

729,107

667,070

604,750

569,840

515,358

359,761

229,024

101,473

93,742

77,977

17,938

29,362

21,743

12,036

18,918

34,257

13,411

17,441

3,326

4,377

2,194

224

114

> Total Current Liabilities

0
0
0
4
5
7
7
7
8
10
10
10
11
11
13
13
13
14
16
26
44
51
28
29
31
35
36
37
39
33
114
0
224
2,194
4,377
3,326
10,598
13,411
16,022
8,055
8,910
16,392
19,569
19,569
11,945
56,945
72,155
58,030
119,661
130,923
153,939
134,760
100,457
134,944
118,726
185,137
194,088
209,559
269,464
239,084
285,734
221,818
154,094
156,419
78,115
86,811
70,350
72,583
77,444
88,587
83,343
265,468
123,575
147,943
158,004
215,379
231,526
226,054
232,726
230,824
203,477
235,078
179,220
170,455
182,475
155,968
300,837
355,172
327,557
625,529
635,932
381,746
344,972
345,300
378,751
602,491
385,761

385,761

602,491

378,751

345,300

344,972

381,746

635,932

625,529

327,557

355,172

300,837

155,968

182,475

170,455

179,220

235,078

203,477

230,824

232,726

226,054

231,526

215,379

158,004

147,943

123,575

265,468

83,343

88,587

77,444

72,583

70,350

86,811

78,115

156,419

154,094

221,818

285,734

239,084

269,464

209,559

194,088

185,137

118,726

134,944

100,457

134,760

153,939

130,923

119,661

58,030

72,155

56,945

11,945

19,569

16,392

8,910

8,055

16,022

13,411

10,598

3,326

4,377

2,194

224

114

Short-term Debt

0
0
0
4
5
7
7
7
8
10
10
10
11
11
13
13
13
14
16
16
19
41
27
29
31
35
36
36
37
0
0
0
0
1,519
988
1,000
2,142
1,651
1,638
838
834
31
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
806,053
0
0
0
835,290
0
1,388
708
832,625
409
845,282
155,000
-773,259
980,783
10,923
6,030
-400,208
9,225
2,791
0
122,574
65,000
65,000
65,000
65,000
65,000
0
0
0
0
0
0
0
0
0
0
0

65,000

122,574

2,791

9,225

-400,208

6,030

10,923

980,783

-773,259

155,000

845,282

409

832,625

708

1,388

835,290

806,053

834

838

1,638

1,651

2,142

1,000

988

1,519

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
806,053
0
0
0
835,290
0
1,388
708
832,625
409
845,282
155,000
979,324
980,783
10,923
6,030
18,183
9,225
2,791
0
0
65,000
65,000
65,000
65,000
0
0
0
0
0
0
0
0
0
0
0
0

65,000

2,791

9,225

18,183

6,030

10,923

980,783

979,324

155,000

845,282

409

832,625

708

1,388

835,290

806,053

Accounts payable

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10
25
10
1
0
0
0
0
0
1
33
114
0
113
482
771
426
3,977
1,935
4,520
4,887
6,420
13,496
15,086
15,086
9,987
28,532
56,417
52,520
110,133
114,864
143,062
122,259
95,822
118,562
108,389
146,469
168,937
168,620
217,865
220,128
231,558
161,547
115,820
98,886
65,319
62,861
59,318
47,760
56,147
64,204
72,396
81,151
93,152
95,149
92,176
122,279
135,483
154,339
175,164
112,698
69,395
58,447
50,005
20,372
35,803
40,788
49,186
65,912
65,464
101,696
141,372
142,678
128,582
134,264
154,020
235,129
192,672

192,672

235,129

154,020

134,264

128,582

142,678

141,372

101,696

65,464

65,912

49,186

40,788

35,803

20,372

50,005

58,447

69,395

112,698

175,164

154,339

135,483

122,279

92,176

95,149

93,152

81,151

72,396

64,204

56,147

47,760

59,318

62,861

65,319

98,886

115,820

161,547

231,558

220,128

217,865

168,620

168,937

146,469

108,389

118,562

95,822

122,259

143,062

114,864

110,133

52,520

56,417

28,532

9,987

15,086

13,496

6,420

4,887

4,520

1,935

3,977

426

771

482

113

114

Other Current Liabilities

0
0
0
0
0
7
7
7
8
10
10
10
11
11
13
13
13
14
16
16
19
0
0
0
0
0
0
0
0
0
0
0
111
178
2,618
847
4,479
136
1,290
1,077
1,339
2,189
4,483
4,483
1,957
28,413
15,739
5,510
9,527
16,058
10,877
12,501
4,635
16,382
10,337
38,668
25,151
40,939
51,599
18,957
54,177
60,271
38,273
57,533
12,796
23,950
11,031
24,823
21,297
24,383
10,947
5
18,682
52,794
65,828
93,100
76,252
71,715
57,562
118,126
11,298
1,021
2,104
6,438
4,658
115,180
251,651
289,260
262,093
523,833
494,560
239,068
216,390
211,036
224,731
367,362
193,089

193,089

367,362

224,731

211,036

216,390

239,068

494,560

523,833

262,093

289,260

251,651

115,180

4,658

6,438

2,104

1,021

11,298

118,126

57,562

71,715

76,252

93,100

65,828

52,794

18,682

10,947

24,383

21,297

24,823

11,031

23,950

12,796

57,533

38,273

60,271

54,177

18,957

51,599

40,939

25,151

38,668

10,337

16,382

4,635

12,501

10,877

16,058

9,527

5,510

15,739

28,413

1,957

4,483

2,189

1,339

1,077

1,290

136

4,479

847

2,618

178

111

> Long-term Liabilities

0
0
0
4
5
7
7
7
8
10
10
10
11
11
13
13
13
14
16
26
44
51
28
29
31
35
36
37
39
33
114
0
113
2,001
1,759
1,426
6,843
3,586
18,234
10,863
3,125
5,351
9,793
9,793
5,993
21,032
21,587
43,443
109,363
228,838
361,419
435,080
504,293
532,126
610,381
666,734
705,684
775,260
855,260
889,180
970,150
875,970
890,882
873,159
853,432
808,883
824,832
813,850
841,511
830,748
853,434
699,502
999,519
1,005,304
872,899
842,361
842,254
856,965
872,017
1,157,071
1,143,345
993,301
943,325
938,800
912,918
897,958
959,190
1,046,601
980,175
1,434,242
1,403,653
1,380,633
1,784,946
1,949,500
1,870,201
2,294,382
2,050,818

2,050,818

2,294,382

1,870,201

1,949,500

1,784,946

1,380,633

1,403,653

1,434,242

980,175

1,046,601

959,190

897,958

912,918

938,800

943,325

993,301

1,143,345

1,157,071

872,017

856,965

842,254

842,361

872,899

1,005,304

999,519

699,502

853,434

830,748

841,511

813,850

824,832

808,883

853,432

873,159

890,882

875,970

970,150

889,180

855,260

775,260

705,684

666,734

610,381

532,126

504,293

435,080

361,419

228,838

109,363

43,443

21,587

21,032

5,993

9,793

5,351

3,125

10,863

18,234

3,586

6,843

1,426

1,759

2,001

113

114

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
789,528
830,203
839,229
857,198
1,140,072
1,118,161
975,282
924,171
918,327
879,843
817,061
801,998
858,415
803,437
1,119,500
1,102,214
1,169,220
1,525,413
1,756,949
1,672,551
2,057,359
0

2,057,359

1,672,551

1,756,949

1,525,413

1,169,220

1,102,214

1,119,500

803,437

858,415

801,998

817,061

879,843

918,327

924,171

975,282

1,118,161

1,140,072

857,198

839,229

830,203

789,528

Other Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
843
1,735
1,364
1,704
1,629
401
3,462
5,501
9,785
2,446
744
3,534
7,397
1,292
1,423
4,118
7,984
2,038
5,188
4,470
5,047
20,435
6,800
5,685
5,097
5,332
5,482
5,628
5,762
5,879
6,061
8,886
7,297
8,152
8,384
20,196
24,521
38,131
52,572
12,051
17,736
14,818
16,999
25,184
17,472
18,307
19,798
32,630
80,897
157,192
188,185
176,738
314,742
301,439
211,413
259,533
0
0
237,023
0

237,023

259,533

211,413

301,439

314,742

176,738

188,185

157,192

80,897

32,630

19,798

18,307

17,472

25,184

16,999

14,818

17,736

12,051

52,572

38,131

24,521

20,196

8,384

8,152

7,297

8,886

6,061

5,879

5,762

5,628

5,482

5,332

5,097

5,685

6,800

20,435

5,047

4,470

5,188

2,038

7,984

4,118

1,423

1,292

7,397

3,534

744

2,446

9,785

5,501

3,462

401

1,629

1,704

1,364

1,735

843

Deferred Long Term Liability

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
13,819
0
0
0
3,300
0
49
49
1,600
1,400
1,339
1,069
11,497
15,524
0
0
0
4,900
4,700
4,400
9,800
9,300
8,800
6,900
6,500
6,100
6,200
5,700
5,700
5,200
10,800
10,400
10,900
10,400
9,800
11,300
0

11,300

9,800

10,400

10,900

10,400

10,800

5,200

5,700

6,200

6,100

6,500

6,900

8,800

9,300

9,800

4,400

4,700

4,900

15,524

11,497

1,069

1,339

1,400

1,600

3,300

13,819

> Total Stockholder Equity

0
0
0
-4
-5
-7
-7
-7
-8
-10
-10
-10
-11
-11
-13
-13
-13
-14
-16
-26
-44
-51
-28
-29
-31
-35
-36
-37
-39
2,763
2,578
18,314
17,907
18,716
46,908
35,008
49,648
49,464
61,833
64,135
123,559
126,806
232,422
232,422
222,936
436,451
461,540
494,499
496,570
510,047
558,240
565,376
586,185
596,662
623,456
600,865
619,828
613,228
609,458
668,311
770,862
542,877
293,792
-28,342
-197,602
-322,505
-429,797
-476,060
-487,422
-470,090
-455,471
-470,604
-490,841
-488,776
-147,820
11,210
429,865
312,760
389,648
514,114
558,643
1,009,007
140,728
-83,731
-223,304
-180,683
-168,217
-157,711
215,134
-35,302
152,650
709,097
745,260
1,048,066
1,415,797
1,407,793
2,047,676

2,047,676

1,407,793

1,415,797

1,048,066

745,260

709,097

152,650

-35,302

215,134

-157,711

-168,217

-180,683

-223,304

-83,731

140,728

1,009,007

558,643

514,114

389,648

312,760

429,865

11,210

-147,820

-488,776

-490,841

-470,604

-455,471

-470,090

-487,422

-476,060

-429,797

-322,505

-197,602

-28,342

293,792

542,877

770,862

668,311

609,458

613,228

619,828

600,865

623,456

596,662

586,185

565,376

558,240

510,047

496,570

494,499

461,540

436,451

222,936

232,422

126,806

123,559

64,135

61,833

49,464

49,648

35,008

46,908

18,716

17,907

18,314

2,578

2,763

-39

-37

-36

-35

-31

-29

-28

-51

-44

-26

-16

-14

-13

-11

-10

-8

-7

-5

-4

Common Stock

0
0
0
2
2
2
2
2
2
2
2
0
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
23
23
28
29
29
34
32
34
34
37
37
44
45
52
52
51
63
63
63
63
64
64
63
64
64
64
62
62
61
61
61
61
62
62
62
63
64
65
63
63
63
64
64
67
66
294
334
378
377
389
404
406
406
436
448
448
462
468
468
479
479
481
481
487
487
495
495
503

503

495

487

481

479

468

462

448

436

406

404

389

377

378

334

294

Retained Earnings Total Equity

Accumulated Other Comprehensive Income

0
0
0
0
-40
0
0
0
-42
0
0
0
-45
-2,042
-2,042
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
65
-148
-903
-757
-241
-1,851
-1,448
-2,211
-1,874
-987
-987
-1,177
-1,234
-430
-253
-62
-81,673
-107,295
-135,352
-162,031
-188,794
-214,953
-247,020
-285,617
-321,596
-363,735
-409,240
-458,039
-863,574
-1,182,200
-1,568,202
-1,759,282
-1,881,318
-1,986,277
-2,043,703
-2,055,988
-2,068,696
-2,082,244
-2,097,463
-2,114,951
-2,133,433
-2,155,813
-2,185,893
-2,233,987
-2,278,914
-2,324,790
-2,380,086
-2,443,216
-2,504,735
-3,303,913
-3,533,887
0
0
0
0
0
0
0
0
0
0
0
0
0

-3,533,887

-3,303,913

-2,504,735

-2,443,216

-2,380,086

-2,324,790

-2,278,914

-2,233,987

-2,185,893

-2,155,813

-2,133,433

-2,114,951

-2,097,463

-2,082,244

-2,068,696

-2,055,988

-2,043,703

-1,986,277

-1,881,318

-1,759,282

-1,568,202

-1,182,200

-863,574

-458,039

-409,240

-363,735

-321,596

-285,617

-247,020

-214,953

-188,794

-162,031

-135,352

-107,295

-81,673

-62

-253

-430

-1,234

-1,177

-987

-1,874

-2,211

-1,448

-1,851

-241

-757

-903

-148

-2,042

-45

-42

-40

Capital Surplus

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,026,053
1,226,371
1,216,429
1,248,906
1,278,976
1,431,438
1,513,516
1,544,407
1,554,053
1,556,602
1,689,567
1,792,589
1,790,542
1,988,649
1,944,773
1,881,459
1,854,441
1,745,532
1,708,147
1,908,055
1,873,940
0

1,873,940

1,908,055

1,708,147

1,745,532

1,854,441

1,881,459

1,944,773

1,988,649

1,790,542

1,792,589

1,689,567

1,556,602

1,554,053

1,544,407

1,513,516

1,431,438

1,278,976

1,248,906

1,216,429

1,226,371

1,026,053

Treasury Stock

Other Stockholders Equity

0
0
0
2,074
2,074
2,074
2,074
2,074
2,074
2,074
2,074
2,076
2,074
2,074
2,074
2,074
2,074
2,074
2,074
2,074
2,074
2,074
2,074
2,074
2,074
2,074
2,074
2,074
2,074
3,104
4,013
19,798
22,260
23,191
50,435
40,164
52,700
51,693
65,660
65,756
124,884
126,233
223,848
223,848
215,540
436,921
440,773
444,937
448,198
534,479
564,668
599,561
627,498
655,785
683,726
691,502
731,661
754,451
797,233
843,605
891,371
1,298,659
1,618,261
2,005,372
2,199,503
2,323,201
2,429,846
2,486,629
2,499,883
2,512,981
2,527,347
2,543,520
2,564,618
2,582,199
3,041,854
3,211,945
3,460,358
3,495,343
3,573,696
3,659,062
3,874,654
1,513,516
1,544,407
1,554,053
1,556,602
1,689,567
1,792,589
1,790,542
1,988,649
1,944,773
1,881,459
1,854,441
1,745,530
1,708,147
1,908,055
1,873,940
2,124,963

2,124,963

1,873,940

1,908,055

1,708,147

1,745,530

1,854,441

1,881,459

1,944,773

1,988,649

1,790,542

1,792,589

1,689,567

1,556,602

1,554,053

1,544,407

1,513,516

3,874,654

3,659,062

3,573,696

3,495,343

3,460,358

3,211,945

3,041,854

2,582,199

2,564,618

2,543,520

2,527,347

2,512,981

2,499,883

2,486,629

2,429,846

2,323,201

2,199,503

2,005,372

1,618,261

1,298,659

891,371

843,605

797,233

754,451

731,661

691,502

683,726

655,785

627,498

599,561

564,668

534,479

448,198

444,937

440,773

436,921

215,540

223,848

126,233

124,884

65,756

65,660

51,693

52,700

40,164

50,435

23,191

22,260

19,798

4,013

3,104

2,074

2,076

2,074

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31
Accounts Payable	192,672	128,582	65,464	35,803	69,395	135,483	93,152	56,147	65,319	231,558	168,937	95,822	110,133	48,500	6,420	1,935	113	1	0	25	0	0	0	0
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	0	0	0	0	-2,443,216	-2,233,987	-2,114,951	-2,055,988	-1,759,282	-458,039	-285,617	-162,031	-62	-946	-2,211	-241	0	0	0	0	0	-45	-42	-40
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	503	487	481	450	408	378	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	1,745,532	1,988,649	1,556,602	1,431,438	1,226,371	449,666	443,895	440,221	433,332	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	8,195	2,528	9,519	1,428	16,068	2,358	102,183	6,486	3,390	9,338	5,687	13,388	6,280	152,111	6,233	781	10,113	0	0	0	0	0	0	0
Cash And Equivalents	0	2,528	9,519	1,428	16,068	2,358	102,183	6,486	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	8,195	2,528	9,519	1,428	16,068	2,358	102,183	6,486	3,390	9,338	5,687	13,388	6,280	191,837	31,137	781	10,113	0	0	0	0	0	0	0
Common Stock	503	487	479	448	406	378	67	63	63	61	62	64	63	62	44	34	29	2	2	2	2	2	2	2
Common Stock Shares Outstanding	92,061	86,675	62,990	42,745	38,708	23,677	6,241	6,117	6,065	6,086	6,275	6,287	6,220	5,078	3,688	3,265	2,367	236	236	236	236	236	236	236
Common Stock Total Equity	0	0	0	448	406	378	67	63	63	61	62	64	63	62	44	34	29	2	2	2	2	2	2	2
Current Deferred Revenue	0	0	0	77,014	0	0	0	0	0	0	0	0	0	0	317	9,690	0	-37	0	0	0	0	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	10,900	5,700	6,500	9,800	5,100	11,497	1,600	3,300	13,819	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Inventory	0	44,269	8,838	51,766	6,521	116,139	605	1,582	66,301	129,823	11,113	9,492	22,489	18,671	3,655	1,509	0	0	0	0	0	0	0	0
Liabilities And Stockholders Equity	4,484,255	2,875,178	1,522,866	872,089	1,905,465	1,503,645	632,254	431,533	733,945	2,026,746	1,519,600	1,190,935	725,594	509,694	135,595	62,876	18,131	0	0	0	0	0	0	0
Long Term Debt	1,835,554	1,525,413	803,437	879,843	1,118,161	830,203	979,324	832,625	835,290	806,052	584,540	424,000	69,900	0	500	0	0	0	0	0	0	0	0	0
Long Term Debt Total	0	1,525,413	803,437	879,843	1,118,161	830,203	979,324	832,625	835,290	806,053	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	0	0	0	0	0	0	0	0	0	25,013	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	1,827,359	1,522,885	793,918	943,415	1,102,093	827,845	877,141	826,139	844,414	796,716	578,853	410,612	63,620	-152,111	-4,899	870	-10,113	37	31	19	13	11	8	5
Net Invested Capital	3,883,230	2,270,673	1,018,569	721,537	1,676,802	1,260,068	488,484	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	373,780	271,674	193,554	71,015	108,484	97,558	47,637	37,242	58,230	85,932	86,817	70,220	51,419	22,034	7,025	2,903	0	0	0	0	0	0	0	0
Net Tangible Assets	0	745,260	215,133	-223,306	558,641	429,865	-490,841	-487,422	-197,602	770,862	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	123,646	-24,487	-112,229	-56,846	-70,440	-3,112	29,183	-30,549	50,700	-59,747	-89,700	-6,242	-39,156	173,351	33,108	-8,218	10,278	0	0	0	0	0	0	0
Non Current Assets Total	3,974,848	2,554,693	1,307,538	746,460	1,772,428	1,275,231	479,496	384,639	605,131	1,800,759	1,415,212	1,096,721	645,089	276,676	93,577	57,682	7,629	0	0	0	0	0	0	0
Non Current Liabilities Other	2,742	2,046	3,111	50	346	105	135	157	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	2,050,818	1,784,946	980,175	912,918	1,143,345	842,254	999,519	841,511	853,432	970,150	705,684	504,293	109,363	14,668	3,125	3,586	113	39	31	44	13	11	8	5
Non Currrent Assets Other	30,160	56,020	48,333	6,745	23,625	72,066	5,491	8,430	15,810	38,832	-10,413,094	-1,681,524	-4,470,614	-3,733	-630	2,416	0	0	0	0	0	0	0	0
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	0	71,767	54,196	744,009	23,835	72,485	6,276	8,430	10,081	38,832	17,905	13,476	1,386	1,367	1,427	33	0	0	0	0	0	0	0	0
Other Current Assets	127,432	2,014	3,417	1,420	1,964	12,360	2,333	1,584	893	895	771	1,115	317	476	201	0	390	0	0	0	0	0	0	0
Other Current Liab	193,089	216,390	262,093	4,658	134,082	96,044	30,423	21,297	12,796	54,177	25,151	4,635	9,527	11,167	1,339	136	111	37	0	0	0	0	0	0
Other Liab	0	259,533	176,737	32,630	25,184	12,051	20,195	8,886	5,628	5,685	4,470	4,118	3,534	5,501	1,704	0	0	0	0	0	0	0	0	0
Other Stockholder Equity	2,124,963	1,745,530	1,988,649	1,556,602	1,431,438	3,460,358	2,564,618	2,499,883	2,199,503	891,371	731,661	627,498	448,198	428,484	124,884	51,693	22,260	2,074	2,074	2,074	2,074	2,074	2,074	2,074
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	8,473,372	6,541,106	5,062,383	735,204	1,748,593	1,202,745	473,220	376,208	589,320	1,761,927	1,397,307	1,083,245	643,703	275,308	92,150	55,233	7,629	0	0	0	0	0	0	0
Property Plant And Equipment Net	3,931,563	2,482,926	1,253,342	735,204	1,748,593	1,202,745	473,220	376,208	589,320	1,761,927	1,397,307	1,083,245	643,703	275,308	92,150	55,233	7,629	0	0	0	0	0	0	0
Property Plant Equipment	0	2,482,926	1,253,342	735,204	1,748,593	1,202,745	473,220	376,208	589,320	1,761,926	1,397,307	1,083,244	643,703	275,309	92,150	55,233	7,628	0	0	0	0	0	0	0
Retained Earnings	-77,790	-1,000,759	-1,773,996	-1,780,356	-873,203	-796,884	-940,574	-931,380	-637,886	337,468	173,722	120,655	48,371	7,759	842	-2,022	-4,381	-2,115	-2,107	-2,120	-2,090	-2,042	-2,042	-2,042
Retained Earnings Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	0	0	0	65,000	0	18,183	979,324	832,625	835,290	806,053	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	1,835,554	1,525,413	803,437	944,843	1,118,161	830,203	979,324	832,625	847,805	806,053	584,540	424,000	69,900	0	1,334	1,651	0	37	31	19	13	11	8	5
Short Term Debt	0	0	0	65,000	0	18,183	979,324	832,625	835,290	806,053	0	0	0	0	834	1,651	0	37	31	19	13	11	8	5
Short Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	39,727	24,903	0	0	0	0	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	4,484,255	2,875,178	1,522,866	872,089	1,905,465	1,503,645	632,254	431,533	733,945	2,026,746	1,519,600	1,190,935	725,594	509,694	135,595	62,876	18,131	0	0	0	0	0	0	0
Total Current Assets	509,407	320,485	215,328	125,629	133,037	228,415	152,758	46,894	128,815	225,988	104,388	94,215	80,505	233,018	42,018	5,193	10,503	0	0	0	0	0	0	0
Total Current Liabilities	385,761	344,972	327,557	182,475	203,477	231,526	123,575	77,444	78,115	285,734	194,088	100,457	119,661	59,667	8,910	13,411	224	39	31	44	13	11	8	5
Total Liab	2,436,579	2,129,918	1,307,732	1,095,393	1,346,822	1,073,780	1,123,094	918,955	931,548	1,255,885	899,772	604,750	229,024	74,334	12,036	13,411	224	39	31	44	13	11	8	5
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	2,047,676	745,260	215,134	-223,304	558,643	429,865	-490,841	-487,422	-197,602	770,862	619,828	586,185	496,570	435,359	123,559	49,464	17,907	-39	-31	-44	-13	-11	-8	-5
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-09-30
Accounts Payable	192,672	235,129	154,020	134,264	128,582	142,678	141,372	101,696	65,464	65,912	49,186	40,788	35,803	20,372	50,005	58,447	69,395	112,698	175,164	154,339	135,483	122,279	92,176	95,149	93,152	81,151	72,396	64,204	56,147	47,760	59,318	62,861	65,319	98,886	115,820	161,547	231,558	220,128	217,865	168,620	168,937	146,469	108,389	118,562	95,822	122,259	143,062	114,864	110,133	52,520	56,417	28,532	9,987	15,086	15,086	13,496	6,420	4,887	4,520	1,935	3,977	426	771	482	113	0	114	33	1	0	0	0	0	0	1	10	25	10	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Accumulated Other Comprehensive Income	0	0	0	0	0	0	0	0	0	0	0	0	0	-3,533,887	-3,303,913	-2,504,735	-2,443,216	-2,380,086	-2,324,790	-2,278,914	-2,233,987	-2,185,893	-2,155,813	-2,133,433	-2,114,951	-2,097,463	-2,082,244	-2,068,696	-2,055,988	-2,043,703	-1,986,277	-1,881,318	-1,759,282	-1,568,202	-1,182,200	-863,574	-458,039	-409,240	-363,735	-321,596	-285,617	-247,020	-214,953	-188,794	-162,031	-135,352	-107,295	-81,673	-62	-253	-430	-1,234	-1,177	-987	-987	-1,874	-2,211	-1,448	-1,851	-241	-757	-903	-148	65	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-2,042	-2,042	-45	0	0	0	-42	0	0	0	-40	0	0	0	-
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Capital Stock	503	495	495	487	487	483	483	481	481	470	470	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Capital Surpluse	0	1,873,940	1,908,055	1,708,147	1,745,532	1,854,441	1,881,459	1,944,773	1,988,649	1,790,542	1,792,589	1,689,567	1,556,602	1,554,053	1,544,407	1,513,516	1,431,438	1,278,976	1,248,906	1,216,429	1,226,371	1,026,053	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Cash	8,195	12,952	14,805	6,073	2,528	9,129	1,471	3,335	9,519	2,006	4,843	2,729	1,428	1,803	1,838	8,512	16,068	1,901	2,794	3,944	2,358	112,966	200,924	89,473	102,183	6,777	3,809	5,519	6,486	3,319	3,667	4,388	3,390	7,042	7,112	5,741	9,338	8,049	14,252	8,109	5,687	11,869	18,095	8,482	13,388	8,235	25,172	3,835	6,280	8,266	77,379	99,705	70,168	39,487	39,487	1,154	6,233	288	13,635	781	640	12,367	6,772	1,968	10,113	11,440	581	924	100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Cash And Equivalents	0	12,952	14,805	6,073	2,528	9,129	1,471	3,335	9,519	2,006	4,843	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Cash And Short Term Investments	8,195	12,952	14,805	6,073	2,528	9,129	1,471	3,335	9,519	2,006	4,843	2,729	1,428	1,803	1,838	8,512	16,068	1,901	2,794	3,944	2,358	112,966	200,924	89,473	102,183	6,777	3,809	5,519	6,486	3,319	3,667	4,388	3,390	7,042	7,112	5,741	9,338	8,049	14,252	8,109	5,687	11,869	18,095	8,482	13,388	8,235	25,172	3,835	6,280	8,266	77,379	124,572	70,168	39,487	39,487	18,638	31,137	2,109	16,209	781	640	15,757	6,772	5,627	10,113	11,440	581	924	100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Common Stock	503	495	495	487	487	481	481	479	479	468	468	462	448	448	436	406	406	404	389	377	378	334	294	66	67	64	64	63	63	63	65	64	63	62	62	62	61	61	61	61	62	62	64	64	64	63	64	64	63	63	63	63	51	52	52	45	44	37	37	34	34	32	34	29	29	28	23	23	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	0	2	2	2	2	2	2	2	2	0	0	-
Common Stock Shares Outstanding	99,814	93,742	89,109	85,407	81,857	86,141	86,788	76,923	81,850	66,630	60,695	54,538	45,521	43,517	41,536	49,721	40,204	39,653	37,872	37,145	37,940	30,176	19,614	6,538	6,467	6,184	6,189	6,197	6,131	6,124	6,118	6,096	6,073	6,068	6,064	6,056	6,056	6,074	6,050	6,145	6,158	6,276	6,336	6,332	6,286	6,288	6,271	6,267	6,224	6,227	6,205	6,300	5,061	5,215	5,215	4,454	4,410	3,694	3,474	3,422	3,422	3,255	3,441	2,885	2,885	2,297	2,273	2,020	2,020	236	236	236	236	236	236	236	236	236	236	236	236	236	236	236	236	236	236	236	236	236	236	236	236	236	230	230	4
Common Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	462	448	448	436	406	406	404	389	377	378	334	294	66	67	64	64	63	63	63	65	64	63	62	62	62	61	61	61	61	62	62	64	64	64	63	64	64	63	63	63	63	62	52	51	45	44	37	37	34	34	34	32	29	29	28	23	23	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	0	2	2	2	2	2	2	2	2	0	0	-
Current Deferred Revenue	0	0	0	0	0	0	0	0	0	0	0	0	77,014	78,645	62,111	110,610	210	0	0	0	420,000	0	0	0	785,000	29,312	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	676	317	1,253	8,574	9,690	0	1,052	0	15	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Deferred Long Term Liab	0	11,300	9,800	10,400	10,900	10,400	10,800	5,200	5,700	5,700	6,200	6,100	6,500	6,900	8,800	9,300	9,800	4,400	4,700	4,900	0	0	0	15,524	11,497	1,069	1,339	1,400	1,600	49	49	0	3,300	0	0	0	13,819	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Good Will	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Inventory	0	-456,674	102,923	113,141	44,269	0	0	0	8,838	5,137	951	2,436	51,766	120,182	157,224	246,119	6,521	66,562	33,956	18,621	116,139	2,552	416	3,024	605	3,834	16,568	4,850	1,582	8,946	14,116	44,280	66,301	89,884	84,574	126,574	129,823	8,031	21,292	13,310	11,113	12,585	7,494	9,555	9,492	8,815	25,632	20,167	22,489	36,949	22,477	27,631	7,776	8,334	8,334	7,022	3,655	665	0	1,509	0	146	0	0	0	0	24	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Liabilities And Stockholders Equity	4,484,255	4,304,666	3,664,749	3,342,866	2,875,178	2,471,476	2,192,235	2,024,469	1,522,866	1,244,062	1,091,810	873,243	872,089	1,025,524	1,263,273	2,237,386	1,905,465	1,902,009	1,494,391	1,395,779	1,503,645	1,068,949	883,083	664,470	632,254	494,366	481,306	449,245	431,533	410,372	465,384	573,189	733,945	1,001,236	1,338,767	1,640,665	2,026,746	1,796,575	1,734,183	1,598,047	1,519,600	1,452,736	1,352,563	1,263,731	1,190,935	1,135,216	1,073,598	869,808	725,594	595,972	555,282	514,428	240,874	261,784	261,784	148,549	135,595	83,054	96,090	62,876	67,089	38,334	51,286	20,910	18,131	18,314	2,691	2,797	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Long Term Debt	1,835,554	2,057,359	1,672,551	1,756,949	1,525,413	1,169,220	1,102,214	1,119,500	803,437	858,415	801,998	817,061	879,843	918,327	924,171	975,282	1,118,161	1,140,072	857,198	839,229	830,203	789,789	834,768	980,783	979,324	691,118	845,282	823,451	832,625	807,789	818,952	803,121	847,804	867,677	885,549	845,681	806,052	736,425	706,797	647,168	584,540	554,912	510,283	439,000	424,000	368,000	300,000	177,500	69,900	15,000	0	0	0	400	400	2,800	500	9,500	16,500	6,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Long Term Debt Total	0	2,057,359	1,672,551	1,756,949	1,525,413	1,169,220	1,102,214	1,119,500	803,437	858,415	801,998	817,061	879,843	918,327	924,171	975,282	1,118,161	1,140,072	857,198	839,229	830,203	789,528	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Long Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	817	4,557	2,058	0	20	20	0	0	0	0	0	25,013	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Debt	1,827,359	2,044,407	1,657,746	1,750,876	1,522,885	1,160,091	1,100,743	1,116,165	793,918	856,409	797,155	814,332	943,415	981,524	987,333	1,031,770	1,102,093	1,138,171	854,404	835,285	827,845	676,562	633,844	891,310	877,141	839,341	841,473	817,932	826,139	804,470	815,285	798,733	844,414	860,635	878,437	839,940	796,716	728,376	692,544	639,059	578,853	543,043	492,188	430,518	410,612	359,765	274,828	173,665	63,620	6,734	-77,379	-99,705	-69,768	-39,087	-39,087	1,678	-4,899	10,050	4,504	870	7,502	-11,367	-5,784	-448	-10,113	-11,440	-581	-924	-63	36	36	35	31	29	27	41	19	16	16	14	13	13	13	11	11	10	10	10	8	7	7	7	5	4	0	0	-
Net Invested Capital	3,883,230	3,465,152	3,088,348	2,805,015	2,270,673	1,878,315	1,254,862	1,084,196	1,018,569	700,702	633,779	636,376	721,537	899,594	1,129,897	2,049,287	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Receivables	373,780	363,516	265,537	274,399	271,674	318,139	360,859	297,754	193,554	158,047	131,165	94,804	71,015	60,067	43,828	98,000	108,484	103,646	88,092	91,714	97,558	91,261	69,058	52,069	47,637	40,581	37,387	35,347	37,242	32,856	40,559	29,705	58,230	91,294	82,406	78,592	85,932	88,575	90,925	82,202	86,817	92,201	69,571	75,890	70,220	79,325	66,064	61,366	51,419	44,561	35,586	27,027	11,312	17,841	17,841	8,232	7,025	5,989	3,679	2,903	2,688	917	1,541	220	0	0	52	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Tangible Assets	0	1,407,793	0	0	745,260	709,095	152,648	-35,304	215,132	-157,712	-168,219	-180,685	-223,306	-83,733	140,727	1,009,005	558,641	514,114	389,649	312,760	429,865	11,210	-147,820	-488,776	-490,841	-470,604	-455,471	-470,090	-487,422	-476,060	-429,797	0	-197,602	0	0	0	770,862	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Working Capital	123,646	-132,865	7,002	50,641	-24,487	-5,052	-253,137	-302,073	-112,229	-187,589	-161,173	-53,544	-56,846	13,294	25,874	119,769	-70,440	-58,714	-99,658	-99,593	-3,112	9,362	117,979	-922	29,183	-211,998	-22,674	-40,399	-30,549	-26,261	-10,757	-7,673	50,700	32,785	21,540	-9,643	-59,747	-132,636	-141,260	-104,874	-89,700	-66,322	-20,765	-40,807	-6,242	-38,106	-36,832	-45,166	-39,156	32,037	63,499	123,039	78,652	46,397	46,397	17,812	33,108	1,583	5,854	-8,218	-4,927	14,279	4,164	3,769	10,278	0	655	953	61	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Non Current Assets Total	3,974,848	3,835,040	3,278,995	2,946,926	2,554,693	2,094,782	1,809,440	1,701,013	1,307,538	1,076,479	952,146	770,819	746,460	841,775	1,058,179	1,882,539	1,772,428	1,729,899	1,361,324	1,269,318	1,275,231	844,209	607,099	517,450	479,496	440,896	420,636	401,056	384,639	364,050	405,792	494,051	605,131	812,032	1,163,133	1,428,489	1,800,759	1,690,126	1,605,979	1,493,362	1,415,212	1,333,921	1,254,601	1,169,595	1,096,721	1,038,561	956,490	784,051	645,089	505,905	419,628	334,444	150,278	195,818	195,818	114,345	93,577	73,416	74,214	57,682	61,418	20,729	42,744	14,947	7,629	6,492	1,923	1,810	200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Non Current Liabilities Other	2,742	2,847	2,944	3,043	2,046	2,116	2,186	2,304	3,111	4,349	3,490	26	50	126	200	274	346	417	330	381	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Non Current Liabilities Total	2,050,818	2,294,382	1,870,201	1,949,500	1,784,946	1,380,633	1,403,653	1,434,242	980,175	1,046,601	959,190	897,958	912,918	938,800	943,325	993,301	1,143,345	1,157,071	872,017	856,965	842,254	842,361	872,899	1,005,304	999,519	699,502	853,434	830,748	841,511	813,850	824,832	808,883	853,432	873,159	890,882	875,970	970,150	889,180	855,260	775,260	705,684	666,734	610,381	532,126	504,293	435,080	361,419	228,838	109,363	43,443	21,587	21,032	5,993	9,793	9,793	5,351	3,125	10,863	18,234	3,586	6,843	1,426	1,759	2,001	113	0	114	33	39	37	36	35	31	29	28	51	44	26	16	14	13	13	13	11	11	10	10	10	8	7	7	7	5	4	0	0	-
Non Currrent Assets Other	30,160	16,861	53,158	16,490	56,020	44,430	38,188	11,468	54,196	11,970	22,066	28,434	11,256	18,773	49,096	108,738	23,625	52,524	67,622	28,207	72,066	25,443	5,302	5,998	5,491	7,486	12,696	10,254	8,430	8,686	8,901	8,692	15,810	23,162	20,018	27,495	38,832	-3,311,979,316	-20,420,949	-12,686,082	17,906	-10,895,982,197	-3,325,888	-5,048,437	13,476	14,495	23,310	-6,621,366	1,386	4,211	-5,016	-10,606	-861,474	1,447	1,447	1,277	1,427	1,574	1,718	2,416	1,630	3,321	3,321	0	0	0	10	0	200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Other Assets	0	-3,835,040	1	-1	71,767	79,722	38,188	11,468	54,196	11,970	22,066	28,434	744,009	18,773	49,096	108,738	23,835	48,144	-1	23,627	72,486	26,228	6,087	6,783	6,276	7,487	12,696	10,254	8,430	8,686	8,901	8,692	15,810	54,857	47,441	27,495	38,832	20,683	15,051	15,918	17,905	17,804	24,112	12,563	13,476	14,496	23,310	3,634	1,386	4,210	1,187	1,278	1,367	1,447	1,526	1,277	1,427	2,067	2,376	4,225	2,449	3,321	0	0	0	0	10	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Other Current Assets	127,432	2,567	2,488	2,328	2,014	49,426	20,465	22,367	3,417	2,393	2,705	2,455	1,420	1,697	2,204	2,216	1,964	1	8,226	12,182	12,360	17,961	5,585	2,455	2,333	2,279	2,906	2,472	1,584	1,201	1,251	766	893	984	1,541	1,269	895	1,793	1,735	1,064	771	2,160	2,801	209	1,115	280	241	390	317	290	211	754	1,341	304	304	313	201	874	1,988	0	2,343	932	82	116	390	381	112	63	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Other Current Liab	193,089	367,362	224,731	211,036	216,390	239,068	494,560	523,833	262,093	289,260	251,651	115,180	4,658	6,438	2,104	1,021	11,298	118,126	57,562	71,715	76,252	93,100	65,828	52,794	18,682	5	10,947	24,383	21,297	24,823	11,031	23,950	12,796	57,533	38,273	60,271	54,177	18,957	51,599	40,939	25,151	38,668	10,337	16,382	4,635	12,501	10,877	16,058	9,527	5,510	15,739	28,413	1,957	4,483	4,483	2,189	1,339	1,077	1,290	136	4,479	847	2,618	178	111	0	0	0	0	0	0	0	0	0	0	0	19	16	16	14	13	13	13	11	11	10	10	10	8	7	7	7	0	0	0	0	-
Other Liab	0	237,023	0	0	259,533	211,413	301,439	314,742	176,738	188,185	157,192	80,897	32,630	19,798	18,307	17,472	25,184	16,999	14,818	17,736	12,051	52,572	38,131	24,521	20,196	8,384	8,152	7,297	8,886	6,061	5,879	5,762	5,628	5,482	5,332	5,097	5,685	6,800	20,435	5,047	4,470	5,188	2,038	7,984	4,118	1,423	1,292	7,397	3,534	744	2,446	9,785	5,501	3,462	401	1,629	1,704	1,364	1,735	843	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Other Stockholder Equity	2,124,963	1,873,940	1,908,055	1,708,147	1,745,530	1,854,441	1,881,459	1,944,773	1,988,649	1,790,542	1,792,589	1,689,567	1,556,602	1,554,053	1,544,407	1,513,516	3,874,654	3,659,062	3,573,696	3,495,343	3,460,358	3,211,945	3,041,854	2,582,199	2,564,618	2,543,520	2,527,347	2,512,981	2,499,883	2,486,629	2,429,846	2,323,201	2,199,503	2,005,372	1,618,261	1,298,659	891,371	843,605	797,233	754,451	731,661	691,502	683,726	655,785	627,498	599,561	564,668	534,479	448,198	444,937	440,773	436,921	215,540	223,848	223,848	126,233	124,884	65,756	65,660	51,693	52,700	40,164	50,435	23,191	22,260	19,798	4,013	3,104	2,074	2,074	2,074	2,074	2,074	2,074	2,074	2,074	2,074	2,074	2,074	2,074	2,074	2,074	2,074	2,074	2,074	2,076	2,074	2,074	2,074	2,074	2,074	2,074	2,074	2,074	0	0	-
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Property Plant And Equipment Gross	8,473,372	8,179,897	7,475,069	7,068,186	6,541,106	5,996,453	0	0	0	0	930,080	742,385	735,204	823,002	1,009,083	1,773,801	1,748,593	1,676,955	1,293,282	1,240,691	1,202,745	817,981	601,013	510,667	473,220	433,409	407,940	390,803	376,208	355,364	396,891	485,359	589,320	757,175	1,115,692	1,400,995	1,761,927	1,669,443	1,590,928	1,477,444	1,397,307	1,316,118	1,230,490	1,157,032	1,083,245	1,024,066	933,180	780,417	643,703	501,695	418,441	333,166	275,308	194,372	148,752	113,068	92,150	71,349	71,838	57,194	55,233	39,423	20,729	14,947	7,629	6,492	1,913	1,810	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Property Plant And Equipment Net	3,931,563	3,788,636	3,216,980	2,915,941	2,482,926	2,015,060	1,771,252	1,689,545	1,253,342	1,064,509	930,080	742,385	735,204	823,002	1,009,083	1,773,801	1,748,593	1,676,955	1,293,282	1,240,691	1,202,745	817,981	601,013	510,667	473,220	433,409	407,940	390,803	376,208	355,364	396,891	485,359	589,320	757,175	1,115,692	1,400,995	1,761,927	1,669,443	1,590,928	1,477,444	1,397,307	1,316,118	1,230,490	1,157,032	1,083,245	1,024,066	933,180	780,417	643,703	501,695	418,441	333,166	148,752	194,372	194,372	113,068	92,150	71,349	71,838	55,233	57,194	20,729	39,423	14,947	7,629	6,492	1,913	1,810	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Property Plant Equipment	0	3,788,636	3,216,981	2,915,940	2,482,926	2,015,060	1,771,252	1,689,545	1,253,342	1,064,509	930,080	742,385	735,204	823,002	1,009,083	1,773,801	1,748,593	1,676,955	1,293,282	1,240,691	1,202,745	817,981	601,013	510,667	473,220	433,409	407,941	390,803	376,209	355,364	396,890	485,359	589,320	757,175	1,115,692	1,400,995	1,761,926	1,669,444	1,590,928	1,477,444	1,397,307	1,316,118	1,230,490	1,157,031	1,083,244	1,024,066	933,180	780,417	643,703	501,695	418,441	333,166	275,309	194,371	148,751	113,068	92,150	71,349	71,838	57,193	55,233	39,423	20,729	14,947	7,628	6,493	1,912	1,810	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Retained Earnings	-77,790	-466,642	-492,753	-660,568	-1,000,759	-1,145,827	-1,729,292	-1,980,556	-1,773,996	-1,948,723	-1,961,276	-1,870,714	-1,780,356	-1,638,234	-1,404,117	-504,917	-873,203	-765,266	-859,647	-904,046	-796,884	-1,015,177	-1,034,155	-937,609	-940,574	-916,725	-900,638	-914,439	-931,380	-919,050	-873,431	-764,452	-637,886	-465,573	-142,331	107,730	337,468	233,885	175,900	180,312	173,722	156,321	154,619	129,607	120,655	101,103	100,803	57,177	48,371	49,751	21,134	701	8,522	9,510	9,510	2,402	842	-209	-2,013	-2,022	-2,329	-4,285	-3,413	-4,569	-4,381	-1,512	-1,459	-364	-2,115	-2,113	-2,112	-2,111	-2,107	-2,105	-2,104	-2,127	-2,120	-2,102	-2,092	-2,090	-2,090	-2,089	-47	-46	-2,042	-2,087	-2,086	-2,086	-2,042	-2,084	-2,083	-2,083	-2,042	-2,081	0	0	-
Retained Earnings Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Short Long Term Debt	0	0	0	0	0	0	0	0	0	0	0	0	65,000	65,000	65,000	65,000	0	0	2,791	9,225	18,183	6,030	10,923	980,783	979,324	155,000	845,282	409	832,625	708	1,388	0	835,290	0	0	0	806,053	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Short Long Term Debt Total	1,835,554	2,057,359	1,672,551	1,756,949	1,525,413	1,169,220	1,102,214	1,119,500	803,437	858,415	801,998	817,061	944,843	983,327	989,171	1,040,282	1,118,161	1,140,072	857,198	839,229	830,203	789,528	834,768	980,783	979,324	846,118	845,282	823,451	832,625	807,789	818,952	803,121	847,805	867,677	885,549	845,681	806,053	736,425	706,796	647,168	584,540	554,912	510,283	439,000	424,000	368,000	300,000	177,500	69,900	15,000	0	0	400	400	400	2,831	1,334	10,338	18,138	1,651	8,142	1,000	988	1,519	0	0	0	0	37	36	36	35	31	29	27	41	19	16	16	14	13	13	13	11	11	10	10	10	8	7	7	7	5	4	0	0	-
Short Term Debt	0	0	0	0	0	0	0	0	0	0	0	65,000	65,000	65,000	65,000	65,000	122,574	0	2,791	9,225	-400,208	6,030	10,923	980,783	-773,259	155,000	845,282	409	832,625	708	1,388	0	835,290	0	0	0	806,053	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	31	834	838	1,638	1,651	2,142	1,000	988	1,519	0	0	0	0	37	36	36	35	31	29	27	41	19	16	16	14	13	13	13	11	11	10	10	10	8	7	7	7	5	4	0	0	-
Short Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	24,867	39,727	0	0	17,484	24,903	1,821	2,575	0	0	3,389	3,389	3,659	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Assets	4,484,255	4,304,666	3,664,749	3,342,866	2,875,178	2,471,476	2,192,235	2,024,469	1,522,866	1,244,062	1,091,810	873,243	872,089	1,025,524	1,263,273	2,237,386	1,905,465	1,902,009	1,494,391	1,395,779	1,503,645	1,068,949	883,083	664,470	632,254	494,366	481,306	449,245	431,533	410,372	465,384	573,189	733,945	1,001,236	1,338,767	1,640,665	2,026,746	1,796,575	1,734,183	1,598,047	1,519,600	1,452,736	1,352,563	1,263,731	1,190,935	1,135,216	1,073,598	869,808	725,594	595,972	555,282	514,428	240,874	261,784	261,784	148,549	135,595	83,054	96,090	62,876	67,089	38,334	51,286	20,910	18,131	18,314	2,691	2,797	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Current Assets	509,407	469,626	385,753	395,941	320,485	376,694	382,795	323,456	215,328	167,583	139,664	102,424	125,629	183,749	205,094	354,847	133,037	172,110	133,068	126,461	228,415	224,740	275,983	147,020	152,758	53,470	60,669	48,188	46,894	46,322	59,593	79,138	128,815	189,204	175,634	212,175	225,988	106,448	128,204	104,685	104,388	118,814	97,961	94,137	94,215	96,654	117,107	85,757	80,505	90,067	135,654	179,984	90,597	65,966	65,966	34,204	42,018	9,638	21,876	5,193	5,671	17,605	8,541	5,963	10,503	11,821	769	987	100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Current Liabilities	385,761	602,491	378,751	345,300	344,972	381,746	635,932	625,529	327,557	355,172	300,837	155,968	182,475	170,455	179,220	235,078	203,477	230,824	232,726	226,054	231,526	215,379	158,004	147,943	123,575	265,468	83,343	88,587	77,444	72,583	70,350	86,811	78,115	156,419	154,094	221,818	285,734	239,084	269,464	209,559	194,088	185,137	118,726	134,944	100,457	134,760	153,939	130,923	119,661	58,030	72,155	56,945	11,945	19,569	19,569	16,392	8,910	8,055	16,022	13,411	10,598	3,326	4,377	2,194	224	0	114	33	39	37	36	35	31	29	28	51	44	26	16	14	13	13	13	11	11	10	10	10	8	7	7	7	5	4	0	0	-
Total Liab	2,436,579	2,896,873	2,248,952	2,294,800	2,129,918	1,762,379	2,039,585	2,059,771	1,307,732	1,401,773	1,260,027	1,053,926	1,095,393	1,109,255	1,122,545	1,228,379	1,346,822	1,387,895	1,104,743	1,083,019	1,073,780	1,057,739	1,030,903	1,153,247	1,123,094	964,970	936,777	919,335	918,955	886,433	895,181	895,694	931,548	1,029,578	1,044,975	1,097,788	1,255,885	1,128,264	1,124,724	984,819	899,772	851,871	729,107	667,070	604,750	569,840	515,358	359,761	229,024	101,473	93,742	77,977	17,938	29,362	29,362	21,743	12,036	18,918	34,257	13,411	17,441	3,326	4,377	2,194	224	0	114	33	39	37	36	35	31	29	28	51	44	26	16	14	13	13	13	11	11	10	10	10	8	7	7	7	5	4	0	0	-
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Stockholder Equity	2,047,676	1,407,793	1,415,797	1,048,066	745,260	709,097	152,650	-35,302	215,134	-157,711	-168,217	-180,683	-223,304	-83,731	140,728	1,009,007	558,643	514,114	389,648	312,760	429,865	11,210	-147,820	-488,776	-490,841	-470,604	-455,471	-470,090	-487,422	-476,060	-429,797	-322,505	-197,602	-28,342	293,792	542,877	770,862	668,311	609,458	613,228	619,828	600,865	623,456	596,662	586,185	565,376	558,240	510,047	496,570	494,499	461,540	436,451	222,936	232,422	232,422	126,806	123,559	64,135	61,833	49,464	49,648	35,008	46,908	18,716	17,907	18,314	2,578	2,763	-39	-37	-36	-35	-31	-29	-28	-51	-44	-26	-16	-14	-13	-13	-13	-11	-11	-10	-10	-10	-8	-7	-7	-7	-5	-4	0	0	-
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31
Begin Period Cash Flow	2,528	9,519	1,428	16,068	2,358	102,183	6,486	3,390	9,338	5,687	13,388	6,280	152,111	6,233	781	10,113	850	0	0	0	0	0	0	0
Capital Expenditures	1,845,252	1,359,776	593,784	283,926	569,128	474,586	119,411	93,151	289,146	477,040	360,447	532,211	341,815	194,212	48,542	46,781	5,079	0	0	0	0	0	0	0
Cash And Cash Equivalents Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	5,667	-6,991	8,091	-14,640	13,710	-99,825	95,697	3,096	-5,947	3,650	-7,701	7,108	-145,831	145,877	5,453	-9,332	9,263	0	0	0	0	0	0	0
Change In Working Capital	-106,135	-62,400	-85,813	34,136	-391	-25,734	-6,842	11,499	23,959	8,762	-14,616	-14,370	-26,753	26,281	-820	31	200	8	12	30	3	3	3	5
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-101,317	-74,904	-122,160	37,637	-11,542	-49,122	-9,717	15,605	27,702	885	-16,597	-18,801	-29,385	-15,009	-4,996	0	0	0	0	0	0	0	0	0
Change To Inventory	0	0	0	0	0	26,093	-353	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	-338	14,091	-1,089	-16,928	-2,704	3,229	-365	-4,545	8,001	1,953	4,426	2,615	41,767	3,532	2,981	224	0	0	0	0	0	0	0
Change To Netincome	0	-29,966	334,327	1,037,655	241,682	10,780	43,986	324,729	1,056,944	-73,910	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	12,842	22,256	-2,412	-9,052	26,092	-354	-2,339	803	3,783	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	486,024	251,272	465,260	1,193,648	411,610	119,780	59,500	61,244	137,770	172,884	124,383	410	298	17,061	4,343	836	3	0	0	0	0	0	0	0
Dividends Paid	123,945	73,266	34,150	34,150	70,868	614,369	0	0	0	0	0	0	19,197,043	0	1,116	0	0	0	0	0	0	0	0	0
End Period Cash Flow	8,195	2,528	9,519	1,428	16,068	2,358	102,183	6,486	3,390	9,338	5,687	13,388	6,280	152,111	6,233	781	10,113	850	0	0	0	0	0	0
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	-661,931	-431,358	-197,317	47,759	-229,378	-230,324	-46,444	8,741	-42,130	-202,782	-137,673	-333,685	-256,665	-120,904	-38,729	-44,274	-5,570	0	0	0	0	0	0	0
Investments	-2,028,438	-1,402,777	-634,434	-283,926	-569,128	-474,519	-119,240	-90,964	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	224,682	209,878	438,077	132,900	70,868	141,674	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	722,064	-139,418	-61,514	212,530	40,049	156,000	-6,000	42,000	223,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	922,969	773,237	6,361	-906,041	-76,318	143,689	-9,194	-293,494	-975,355	163,746	53,067	72,285	40,611	6,917	2,799	2,360	-4,305	-8	13	-30	-3	-3	-3	-5
Other Cashflows From Financing Activities	606,400	1,697,278	-18,450	77,554	998,666	1,199,641	321,970	62,571	334,312	252,565	336,428	763,800	-450	5,300	30,250	1,681	-2,828	0	0	0	0	0	0	0
Other Cashflows From Investing Activities	0	-43,001	-40,650	1	1	68	171	2,187	211	211	0	0	0	0	0	8,780	0	0	0	0	0	0	0	0
Other Non Cash Items	-202,055	-38,776	6,805	5,613	-3,316	2,167	27,001	5,788	1,257,757	-170,001	23,378	84,837	37,995	15,062	812	153	3,611	0	-25	0	0	0	0	0
Sale Purchase Of Stock	-8,004	-135,738	1,317,500	-439	-15,108	-22,195	-668	-1,403	-340	-16,132	-26,366	-1,546	-1,081	0	1,116	0	2,663	0	0	0	0	0	0	0
Stock Based Compensation	5,660	5,656	3,621	4,119	7,955	3,995	3,287	3,464	5,234	2,759	4,799	12,382	6,164	3,566	1,213	0	389	0	0	0	0	0	0	0
Total Cash From Financing Activities	684,692	467,367	246,059	-62,399	243,088	130,431	141,970	-7,832	35,973	206,433	128,061	340,754	69,887	280,464	67,488	28,520	14,833	0	0	0	0	0	0	0
Total Cash From Operating Activities	1,183,321	928,418	396,467	331,685	339,750	244,262	72,967	101,892	247,016	274,258	222,774	198,527	85,150	73,307	9,813	2,506	-492	0	0	0	0	0	0	0
Total Cashflows From Investing Activities	0	-1,402,777	-634,434	-283,926	-569,128	-474,519	-119,240	-90,964	-288,936	-477,040	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31
Begin Period Cash Flow	12,952	14,805	6,073	2,528	9,129	1,471	3,335	9,519	2,006	4,843	2,729	1,428	1,803	1,838	8,512	16,068	1,901	2,794	3,944	2,358	112,966	200,924	89,473	102,183	6,777	3,809	5,519	6,486	3,319	3,667	4,388	3,390	7,042	7,112	5,741	9,338	8,049	14,252	8,109	5,687	11,869	18,095	8,482	13,388	8,235	25,172	3,835	6,280	8,266	77,379	99,705	152,111	1,154	70,168	70,168	6,233	288	13,635	640	6,772	781	1,968	12,367	10,113	11,440	581	924	850	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Expenditures	361,049	650,323	372,660	461,220	529,734	301,265	111,178	417,599	228,967	160,676	168,969	35,172	34,599	59,587	85,241	104,499	151,179	257,808	82,228	77,913	184,428	130,411	101,726	58,022	43,794	32,869	22,477	20,271	26,161	28,558	18,364	20,068	55,761	45,058	77,770	110,557	131,690	116,433	109,716	119,200	90,802	82,315	110,372	76,959	112,339	135,831	138,935	145,107	101,872	85,495	95,260	59,188	36,260	36,400	36,400	22,108	22,723	8,488	10,303	15,901	7,029	5,661	18,898	6,320	1,504	2,612	113	850	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Cash Equivalents Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	-4,757	-1,853	8,732	3,545	-6,601	7,658	-1,864	-6,184	7,513	-2,837	2,114	1,301	-375	-35	-6,674	-7,556	14,167	-893	-1,150	1,586	-110,608	-87,958	111,451	-12,710	95,407	2,968	-1,710	-967	3,167	-348	-721	998	-3,652	-70	1,371	-3,596	1,288	-6,203	6,143	2,422	-6,181	-6,227	9,613	-4,906	5,153	-16,937	21,337	-2,445	-1,986	-69,114	-22,326	-52,406	69,014	-30,681	-30,681	-5,080	5,945	-13,346	12,994	-5,991	-141	10,399	-5,595	-8,145	-1,328	10,860	-343	74	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-1	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Working Capital	-23,551	-83,131	27,411	-26,864	53,030	7,504	-41,949	-80,985	-24,907	-27,888	-12,203	-20,815	-8,796	-12,607	48,478	7,061	-6,263	-11,353	5,806	11,419	10,298	-15,811	-31,385	11,163	-22,404	15,611	-15,260	15,211	-17,221	21,268	-25,944	33,396	19,485	6,395	-11,999	10,079	-2,570	9,176	-15,124	17,280	-9,091	-7,271	3,269	-1,523	2,852	-7,247	-3,830	-6,145	-3,291	-17,917	19,747	-25,291	-6,770	-1,526	-1,526	5,646	232	-1,883	-434	1,119	1,264	-777	-275	-36	220	-59	67	-28	2	1	1	4	27	1	-23	7	17	11	2	0	0	0	2	0	0	1	0	2	0	0	0	2	0	0	1	3
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-9,729	-98,276	9,554	-2,866	47,000	42,918	-62,789	-102,033	-35,413	-26,787	-36,266	-23,694	-10,854	-16,564	54,266	10,789	-4,953	-15,434	2,906	5,939	-5,782	-22,108	-16,894	-4,338	-7,578	-1,995	-2,039	1,895	-2,984	7,703	-10,854	21,740	33,063	-8,887	-3,815	7,340	2,644	2,349	-8,723	4,615	5,384	-22,630	6,319	-5,671	9,105	-13,261	-4,698	-9,947	-6,857	-8,975	-8,559	-4,994	-3,318	-6,530	-6,530	-969	-1,036	-3,185	-1,052	277	277	0	0	-220	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Inventory	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-14,745	15,979	-13,264	11,677	0	14,354	-14,823	11,503	0	15,226	-7,981	7,099	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-46,492	0	0	0	0	0	0	0	0	0	-148	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	16,045	-3,611	-11,903	-16,335	-25,297	8,051	33,243	-7,592	8,146	8,480	5,057	38	419	-32	-1,514	-17,986	-4,882	157	5,783	-6,633	-257	2,716	1,890	3,007	18,451	1,530	14,228	-365	10,468	-14,605	11,607	-4,545	9,870	0	3,131	8,001	14,113	7,229	12,957	1,953	16,340	1,622	4,341	4,426	10,918	4,981	4,383	2,615	0	7,917	0	41,767	8,544	3,430	7,031	3,532	2,935	1,651	1,099	2,981	549	206	272	224	0	114	33	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	186,421	6,234	-139,788	13,706	-377,926	-54,362	388,616	-58,748	73,586	177,586	141,903	190,209	269,173	914,536	-336,263	136,925	-47,039	2,880	148,916	-168,214	23,336	122,159	11,499	25,885	19,977	-13,259	-16,319	324,729	48,777	121,004	0	1,056,944	0	0	0	-73,910	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-900	21,468	-12,095	22,365	-10,117	12,789	-12,195	18,098	-9,247	15,583	-2,178	2,020	3,538	-5,756	-2,214	709	-12,201	2,743	-303	23,133	6,554	-17,206	13,612	-353	16,036	-13,352	-888	-2,339	50	-485	0	803	0	0	0	3,783	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	151,188	338,503	75,924	94,618	77,316	65,976	54,795	53,185	42,815	35,885	30,907	31,221	32,770	30,785	36,756	61,809	63,410	55,566	46,091	45,134	48,295	30,258	22,596	18,631	17,632	15,358	13,682	12,828	13,523	13,698	16,177	17,846	24,140	31,670	36,746	45,213	48,924	45,646	42,212	36,101	38,928	32,165	93	94	106	105	102	97	84	76	70	68	2,627	3,828	3,828	1,908	2,176	851	871	464	445	119	203	49	3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Dividends Paid	35,250	34,318	28,923	25,454	35,389	15,010	16,691	6,176	10,173	1,975	3,719	22,002	22,002	22,002	0	0	0	0	0	0	554,369	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	311,610	0	0	0	1,120,839	0	0	0	0	0	0	0	1,116	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
End Period Cash Flow	8,195	12,952	14,805	6,073	2,528	9,129	1,471	3,335	9,519	2,006	4,843	2,729	1,428	1,803	1,838	8,512	16,068	1,901	2,794	3,944	2,358	112,966	200,924	89,473	102,183	6,777	3,809	5,519	6,486	3,319	3,667	4,388	3,390	7,042	7,112	5,741	9,338	8,049	14,252	8,109	5,687	11,869	18,095	8,482	13,388	8,235	25,172	3,835	6,280	8,266	77,379	99,705	70,168	39,487	39,487	1,154	6,233	288	13,635	781	640	12,367	6,772	1,968	10,113	11,440	581	924	850	0	0	0	0	0	0	0	0	0	0	0	0	0	-1	0	0	0	0	0	0	0	0	0	0	0	0	0
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	-18,687	-386,458	-64,874	-191,912	-242,355	-24,499	99,061	-263,565	-95,865	-66,263	-62,783	27,594	38,434	-3,174	16,344	-3,845	-80,752	-186,785	17,164	20,995	-66,582	-67,611	-83,629	-12,501	-36,408	2,968	-22,449	9,445	-21,988	10,638	-15,055	35,146	16,434	18,064	-32,947	-43,681	-66,804	-35,953	-53,573	-46,453	-36,946	-23,832	-56,293	-20,602	-50,509	-84,696	-91,987	-106,493	-66,108	-71,604	-52,605	-66,349	-33,421	-25,075	-25,075	-9,959	-17,252	-6,514	-9,305	-13,672	-5,658	-5,988	-18,168	-6,446	-1,671	-2,718	-233	-949	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-1	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	-378,143	-612,823	-410,160	-461,220	-544,235	-312,765	-128,178	-417,599	-269,617	-151,276	-160,869	-52,672	-34,374	-59,038	-86,014	-104,500	-151,180	-226,807	-113,228	-77,913	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	290,067	0	0	0	0	0	0	0	209,878	0	95,299	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	384,000	-76,160	231,564	355,896	67,543	-17,375	316,000	-50,500	56,000	-15,669	-129,249	-39,000	3,000	-22,237	-3,277	36,018	154,000	15,512	7,000	-19,950	-19,950	60,000	60,000	156,000	145,000	21,000	-10,000	-6,000	-12,000	14,571	0	42,000	0	0	0	223,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	388,853	26,110	167,815	340,191	145,068	583,465	251,264	-206,560	174,728	12,553	-90,563	-90,357	-142,123	-233,004	-899,200	368,286	-107,937	94,381	44,400	-107,162	218,292	18,979	-96,547	2,965	-23,849	-16,087	13,802	16,941	-12,330	-45,619	-108,979	-126,566	-172,313	-323,242	-250,061	-229,739	103,583	57,985	-4,412	6,590	17,401	1,703	25,012	8,952	19,552	300	43,626	8,806	-1,381	28,617	20,433	-7,058	6,121	987	987	1,560	1,051	1,739	316	1,392	-307	283	872	-187	-2,869	-54	-1,095	-288	-2	-1	-1	-4	-2	-1	23	-7	-17	-11	-2	0	0	0	-2	0	0	-1	0	-2	0	0	0	-2	0	0	-1	-3
Other Cashflows From Financing Activities	-793	520,422	752,029	334,352	875,721	268,814	120,962	431,781	-5,175	129,000	-831	646,556	21,966	30,590	-8	24,567	683,793	190,892	67,174	41,699	1,086,479	-281	195,174	-21	292,267	6,000	23,703	-20,271	34,000	3,000	25,571	-20,058	10,000	29,879	244,434	50,000	90,000	39,800	59,990	62,775	211,951	43,735	240,926	21,816	623,217	86,758	175,823	260,222	2,241,477	20,751	-64,981	1,500	85,500	-41,999	-41,999	2,300	3,750	10,000	22,701	27,501	6,500	-602	-11	585	-2,663	112	-112	-165	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Cashflows From Investing Activities	0	0	-37,500	0	-43,001	-28,500	-17,000	0	-40,650	0	-9,400	-17,500	0	-225	1	-1	-1	1	1	1	1	68	0	0	171	0	171	171	2,187	955	-10	0	211	0	0	0	211	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	8,780	2,955	608	364	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	-234,046	1,786	-2,524	-141,480	11,894	-382,183	-54,645	386,158	-61,141	1,412	3,837	956	1,045	2,478	1,010	-337,791	-14,267	-15,250	25,317	884	-161,307	1,156	1,263	1,440	38,771	1,129	1,091	1,180	1,003	1,174	1,108	2,503	202,346,765	1,318	336,758	375,107	-145,495	-68,267	35,642	8,119	-5,139	29,618	9,891	42,112	30,119	50,769	-23,882	27,830	38,629	-16,246	-12,160	27,772	-4,165	6,691	6,691	1,244	-471	1,160	8	-745	-81	46	-70	49	2,480	6	908	217	0	0	0	0	-25	0	0	0	0	0	0	0	0	0	-1	0	0	0	0	0	0	0	0	0	0	0	0	0
Sale Purchase Of Stock	793	216,678	216,678	-8,004	-33,002	-8,691	-43,820	-50,225	339,500	228,199	171,717	132,900	0	0	0	0	15,108	-15,108	-15,108	-15,108	-21,780	-66	-161	-188	547	547	-135	-412	-76	59	-227	-1,159	-135	-13	-116	-76	-1,908	-50	-274	-13,900	-189	-26,129	-20	-28	-373	0	0	-1,173	-1,081,132	0	0	0	0	0	0	0	1,116	0	0	0	0	0	0	1,047	2,663	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock Based Compensation	1,181	1,289	1,039	2,151	1,447	1,342	1,420	1,447	1,374	698	780	769	937	889	1,214	1,079	3,675	-114	1,643	2,751	1,903	1,513	1,399	-820	-1,979	3,769	884	614	956	-792	1,559	1,741	2,322	967	249	1,696	737	890	575	558	1,251	1,240	1,186	1,122	1,086	6,999	2,092	2,205	612	2,189	1,505	1,858	1,193	724	724	813	1,016	111	36	50	50	0	0	0	389	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Cash From Financing Activities	31,024	347,104	111,106	195,458	250,255	43,656	-83,924	257,380	144,030	54,025	56,797	-8,793	-39,034	2,590	-22,245	-3,710	94,919	154,892	12,686	-19,409	-64,026	-347	195,013	-210	131,814	-6,000	20,568	-10,412	23,924	-11,941	14,344	-34,159	-20,135	-18,134	34,318	39,924	68,092	29,750	59,716	48,875	29,762	17,605	65,906	14,788	55,624	67,758	113,323	104,049	53,636	14,751	1,500	1,500	79,689	-7	-7	1,497	47,304	-7,814	22,481	662	5,518	15,894	10,226	1,737	-17	13,938	-111	1,023	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Cash From Operating Activities	342,362	263,865	307,786	269,308	287,379	276,766	210,239	154,034	133,102	94,413	106,186	62,766	73,033	56,413	101,585	100,654	70,427	71,023	99,392	98,908	117,846	62,799	18,096	45,521	7,386	35,837	27	29,716	4,173	39,196	3,309	55,214	72,195	63,122	44,823	66,876	64,887	80,480	56,143	72,748	53,855	58,483	54,080	56,357	61,830	51,135	46,948	38,613	35,764	13,891	42,656	-7,161	2,839	11,325	11,325	12,149	5,470	1,974	998	2,229	1,370	-327	730	-126	-167	-106	-120	-99	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-1	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Cashflows From Investing Activities	0	-612,823	-871,380	-461,220	-1,402,777	-858,542	-128,178	-417,599	-269,617	-151,276	-160,869	-52,672	-34,374	-59,038	-86,014	-104,500	-151,180	-417,948	-191,141	-77,913	-164,428	-150,411	-101,658	-58,022	-119,240	-32,869	-22,305	-20,271	-90,964	-27,602	-18,374	0	-288,936	0	0	0	-477,040	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31
Cost Of Revenue	993,148	670,142	388,599	308,239	386,871	231,728	129,837	122,438	211,444	272,253	201,201	159,705	27,344	8,766	2,055	71	0	0	0	0	0	0	0	0
Depreciation And Amortization	486,024	415,077	140,828	-1,555	210,201	119,780	59,500	61,244	137,770	172,884	124,383	98,837	41,114	17,061	4,343	836	3	0	-75	0	0	0	0	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	873,012	853,192	415,315	-2,716	-19,299	128,734	15,682	-39,823	-165,612	141,806	26,618	114,406	78,153	11,674	6,476	-40	-4,721	-8	-12	-30	-3	-3	-3	-5
Ebitda	1,359,036	1,268,269	556,143	-4,271	190,902	248,513	75,182	21,421	-27,842	314,690	151,001	213,243	119,267	28,735	10,819	796	-4,718	-8	-87	-30	-3	-3	-3	-5
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	913,861	1,315,656	586,493	15,830	214,368	262,191	94,149	37,284	-8,770	159,361	168,030	137,112	132,380	35,793	12,166	3,472	0	0	0	0	0	0	0	0
Income Before Tax	1,000,742	776,338	6,594	-906,207	-76,318	143,634	-10,764	-294,896	-1,177,779	263,113	84,835	115,286	67,447	11,336	4,265	1,487	-4,305	-8	13	-30	-3	-3	-3	-5
Income Tax Expense	77,773	3,101	233	-166	-129,367	-55	-1,570	-1,402	-202,424	99,367	31,768	43,002	26,835	4,419	1,466	-873	-416	0	-25	0	0	0	0	0
Interest Expense	138,663	80,331	59,020	58,503	80,676	86,889	70,286	64,486	58,360	42,106	32,709	13,875	586	30,368	2,211	1,527	208	0	25	0	0	0	0	0
Interest Income	0	79,338	57,977	59,522	79,286	87,487	70,286	64,486	58,360	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	922,969	773,237	6,361	-906,041	53,049	143,689	-9,194	-293,494	-975,355	163,746	53,067	72,285	40,611	6,917	2,799	2,360	-4,305	-8	13	-30	-3	-3	-3	-5
Net Income Applicable To Common Shares	0	727,703	-8,400	-921,307	-77,347	143,689	-9,194	-293,494	-975,355	163,746	53,067	72,285	40,611	6,917	2,799	2,360	0	0	0	0	0	0	0	0
Net Income From Continuing Ops	679,185	773,237	6,361	-906,041	-76,318	143,689	-9,194	-293,494	-975,355	163,746	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-122,959	-80,331	-59,020	-58,503	-80,676	-86,889	-70,286	-64,486	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	0	0	0	0	0	0	237,013	1,163,959	1,163,959	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	873,012	853,192	415,315	-2,716	-19,299	432,628	60,495	-229,305	-1,119,388	305,171	117,997	129,136	67,250	11,505	4,129	1,103	-4,513	-8	-12	-30	-3	-3	-3	-5
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	1,033,997	717,343	418,940	326,785	410,495	246,296	148,825	137,196	230,486	289,855	217,777	182,436	82,139	33,054	8,851	2,439	4,513	8	37	30	3	3	3	5
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	412,152	251,272	140,828	162,120	210,201	119,780	59,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	10,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	46,801	47,201	30,341	18,546	23,624	14,568	18,988	14,758	19,042	17,602	16,575	22,645	13,625	7,204	2,453	2,091	4,513	8	12	30	3	3	3	5
Tax Provision	18,985	3,101	233	-166	-166	-55	-770	-1,402	-202,424	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	40,849	47,201	30,341	18,546	23,624	14,568	18,988	14,758	19,042	17,602	16,575	22,732	54,795	24,287	6,796	2,368	4,513	8	37	30	3	3	3	5
Total Other Income Expense Net	127,730	-76,854	-408,721	-903,491	-57,019	-17,099	-15,639	-252,937	-1,091,606	163,460	-33,911	14,779	-10,121	-169	-1,106	1,161	208	0	50	0	0	0	0	0
Total Revenue	1,907,009	1,985,798	975,092	324,069	601,239	493,918	223,986	159,722	202,675	431,614	369,232	296,817	159,725	44,559	14,221	3,543	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-09-30
Cost Of Revenue	299,152	258,455	227,915	207,624	187,799	176,726	163,278	142,341	118,441	99,053	92,121	78,986	70,007	61,881	65,311	111,040	114,992	103,304	86,257	82,320	83,411	61,998	47,277	39,041	37,586	33,028	30,260	28,964	29,722	28,664	31,480	32,572	40,151	49,286	57,182	64,825	74,793	72,432	67,459	57,570	59,932	53,507	44,486	43,215	116,335	16,827	13,950	12,592	8,613	8,172	5,927	4,632	1,586	2,689	2,689	978	920	673	309	43	153	8	18	13	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Depreciation And Amortization	151,188	133,791	106,427	94,618	75,268	65,976	108,012	53,185	42,815	35,885	30,907	31,221	32,770	30,785	36,756	61,809	63,410	55,566	46,091	45,134	48,295	30,258	22,596	18,631	17,632	15,358	13,682	12,828	13,523	13,698	16,177	17,846	24,140	31,670	36,746	45,213	48,924	45,646	42,212	36,101	38,928	32,165	26,528	26,762	26,751	28,057	25,622	18,407	14,937	10,825	8,420	6,932	2,627	3,828	3,828	1,908	2,176	851	871	464	445	119	203	49	3	0	0	0	0	0	0	0	75	0	-75	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Ebit	1,118	-31,620	70,667	116,934	167,535	281,070	270,104	300,304	160,638	155,129	125,996	71,567	-7,648	5,667	-49,354	14,294	-25,742	50,559	12,250	-804	15,939	79,044	58,892	46,343	14,301	13,248	13,717	16,283	81	-2,732	-9,705	-9,620	-30,792	-35,780	1,636	-18,716	14,743	42,076	7,508	-835	-4,216	49,393	4,422	9,184	32,061	26,327	26,490	29,528	26,205	20,692	3,472	35,982	10,243	1,841	1,841	2,713	4,144	2,111	805	-314	-469	93	562	-381	-3,153	-352	-464	-308	-2	-1	-1	-4	-102	-1	23	-7	-17	-11	-2	0	0	0	-2	0	0	-1	0	-2	0	0	0	-2	-3	0	-1	-3	0
Ebitda	152,306	102,171	177,094	211,552	242,803	347,046	378,116	353,489	203,453	191,014	156,903	102,788	25,122	36,452	-12,598	76,103	37,668	106,125	58,341	44,330	64,234	109,302	81,488	64,974	31,933	28,606	27,399	29,112	13,604	10,966	6,472	8,226	-6,652	-4,110	38,381	26,497	63,667	87,722	49,721	35,266	34,712	81,558	30,950	35,946	58,812	54,384	52,112	47,935	41,142	31,517	11,892	42,914	12,870	5,669	5,669	4,621	6,320	2,963	1,676	150	-24	212	765	-332	-3,151	-351	-464	-308	-2	-1	-1	-4	-27	-1	-52	-7	-17	-11	-2	0	0	0	-2	0	0	-1	0	-2	0	0	0	-2	-3	0	-1	-3	0
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Gross Profit	11,439	55,518	190,870	220,934	257,848	357,324	386,365	314,117	213,932	160,617	133,596	78,346	29,508	11,802	-44,644	19,164	45,717	54,688	63,592	50,369	69,156	83,419	61,772	47,844	34,894	21,234	18,129	19,892	17,363	13,064	11,058	-4,200	-802	504	5,892	-14,364	19,666	46,762	53,699	39,233	39,235	53,727	35,165	39,965	-35,947	63,875	56,553	52,631	44,689	35,597	29,660	22,435	14,646	7,194	7,194	6,243	5,512	4,183	1,966	1,085	506	757	1,345	274	0	0	0	-136	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Income Before Tax	447,614	5,419	206,826	340,883	145,042	584,798	252,269	-205,771	174,960	12,554	-90,563	-90,357	-142,123	-233,004	-899,200	368,120	-107,939	94,381	44,399	-107,162	218,237	18,979	-96,547	2,965	-25,419	-16,087	13,802	16,941	-13,733	-45,619	-108,979	-126,566	-172,313	-323,320	-316,927	-365,219	166,550	93,035	-7,162	10,690	27,906	2,731	39,642	14,556	27,675	514	72,466	14,631	-271	45,790	33,493	-11,566	9,954	1,607	1,607	2,537	1,352	2,647	527	519	-512	283	872	-187	-2,869	-267	-1,095	-288	-2	-1	-1	-4	-2	-1	23	-7	-17	-11	-2	0	0	0	-2	0	0	-1	0	-2	0	0	0	-2	-3	0	-1	-3	0
Income Tax Expense	58,761	-20,691	39,012	692	-27	1,333	1,006	789	233	127,989	201,535	148,414	153,887	224,034	835,889	-166	123,768	-65,332	-3,836	131,944	-55	39,627	133,036	20,271	-1,570	12,663	-16,513	-16,961	-1,402	40,439	99,404	100,847	0	-78	-66,867	-135,480	62,967	35,050	-2,750	4,100	10,505	1,028	14,630	5,605	8,123	213	28,840	5,825	1,110	17,173	13,060	-4,508	3,833	620	620	977	301	1,059	211	-1,706	-205	-191	-310	-194	-284	-84	631	-20	0	0	0	0	-25	0	50	0	0	0	0	0	0	0	-1	0	0	0	0	0	0	0	0	0	-3	0	0	0	-
Interest Expense	36,513	37,040	31,968	30,143	23,808	20,135	18,410	17,977	15,899	14,586	15,024	13,510	13,358	14,637	13,957	16,551	21,840	21,510	17,778	19,548	20,941	20,438	22,403	23,107	20,882	16,673	16,428	16,304	16,195	16,145	16,046	16,099	16,082	16,154	14,388	11,737	11,256	10,624	10,327	9,899	9,569	9,213	7,820	6,108	5,745	5,206	2,728	196	160	182	30,021	47,547	289	145	234	176	2,792	536	278	833	44	191	310	96	142	42	14	10	0	0	0	0	25	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Interest Income	0	37,040	31,968	31,160	24,587	20,177	17,886	16,687	15,311	14,494	14,903	13,270	13,172	14,413	31,937	17,228	21,840	21,533	22,651	13,261	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Income	388,853	26,111	167,815	340,191	145,068	583,465	251,264	-206,560	174,727	12,554	-90,563	-90,357	-142,123	-233,004	-899,200	368,286	-107,939	94,381	44,399	-107,162	218,292	18,979	-96,547	2,965	-23,849	-16,087	13,802	16,941	-12,330	-45,619	-108,979	-126,566	-172,313	-323,242	-250,061	-229,739	103,583	57,985	-4,412	6,590	17,401	1,703	25,012	8,952	19,552	300	43,626	8,806	-1,381	28,617	20,433	-7,058	6,121	987	987	1,560	1,051	1,588	316	1,392	-307	283	1,182	-187	-2,869	-267	-1,095	-288	-2	-1	-1	-4	-2	-1	23	-7	-17	-11	-2	0	0	0	-1	0	0	-1	0	-2	0	0	0	-2	0	0	-1	-3	0
Net Income Applicable To Common Shares	0	26,111	167,815	340,191	133,291	580,855	238,091	-224,533	171,122	8,949	-94,282	-94,187	-146,403	-236,722	-902,988	364,557	-108,966	94,381	44,399	-107,162	218,292	18,979	-96,547	2,965	-53,344	30,349	13,801	16,941	-247,875	63,360	-108,979	0	-975,355	0	0	0	103,583	57,986	-6,590	6,590	17,401	1,703	25,011	8,952	19,553	300	43,626	8,806	11,994	28,617	20,433	0	5,929	988	6,120	1,560	1,051	1,588	419	0	1,383	918	310	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Income From Continuing Ops	388,853	26,110	167,814	340,191	145,069	583,465	251,263	-206,560	174,727	12,554	-90,563	-90,357	-142,123	-233,004	-899,200	368,286	-107,937	94,381	44,399	-107,162	218,292	18,979	-96,547	2,965	-53,344	98,110	-70,901	16,941	-247,875	63,360	-108,979	0	-975,355	0	0	0	163,746	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Interest Income	-36,513	-37,040	-31,968	-30,143	-23,808	-20,135	-18,410	-17,977	-15,899	-14,586	-15,024	-13,510	-13,358	-14,637	-13,957	-16,551	-21,840	-21,510	-17,778	-19,548	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Non Operating Income Net Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Non Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	193,192	-45,060	88,881	0	1,163,959	0	0	0	1,163,959	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Operating Income	1,118	42,438	234,791	116,934	167,535	281,070	270,104	300,304	190,286	26,964	-74,920	-64,371	-128,757	-218,653	-884,708	14,294	-62,527	50,559	92,239	-95,305	354,809	35,597	16,318	25,905	-3,660	585	30,325	33,244	2,486	-29,474	-92,933	-109,385	-156,199	-307,167	-302,540	-353,482	177,804	103,647	3,162	20,558	37,491	12,113	47,729	20,664	33,396	5,719	75,194	14,827	-111	45,971	33,722	-12,333	10,098	1,724	1,724	2,625	1,355	2,326	666	482	-469	188	562	-284	-3,011	-309	-1,108	-298	-2	-1	-1	-4	-27	-1	23	-7	-17	-11	-2	0	0	0	-2	0	0	-1	0	-2	0	0	0	-2	-3	0	-1	-3	0
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Other Operating Expenses	309,473	271,536	241,763	221,625	202,844	187,004	171,342	156,154	128,904	104,543	99,725	85,768	74,368	66,486	70,021	115,911	123,110	107,510	91,507	88,371	88,387	66,673	50,528	40,708	40,662	41,014	34,577	32,573	33,458	30,762	36,066	36,910	45,969	53,901	61,439	69,178	79,718	77,131	71,440	61,567	64,439	57,671	48,433	47,234	48,351	54,376	44,014	35,696	27,097	23,079	17,104	14,859	6,134	8,159	8,159	4,597	3,840	2,530	1,609	646	1,127	576	646	571	3,011	309	889	298	2	1	1	4	27	1	2	7	17	11	2	0	0	0	2	0	0	1	0	2	0	0	0	2	3	0	1	3	0
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Reconciled Depreciation	151,188	133,791	106,427	94,618	77,316	65,976	54,795	53,185	42,815	35,885	30,907	31,221	32,770	30,785	36,756	61,809	0	0	0	45,134	48,295	30,258	22,596	18,631	17,632	15,358	13,682	12,828	0	0	0	0	0	0	0	0	0	0	0	0	0	0	93	94	106	105	102	97	84	76	70	68	-8,187	3,828	2,627	1,908	2,176	851	871	445	464	203	119	49	3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Selling General Administrative	9,553	11,846	12,402	13,000	15,045	10,278	8,064	13,813	10,463	5,490	7,604	6,782	4,361	4,605	4,710	4,871	8,118	4,206	5,250	6,051	4,976	4,674	3,251	1,667	3,076	7,986	4,317	3,609	3,736	2,098	4,586	4,337	5,818	4,615	4,256	4,353	4,925	4,699	3,981	3,998	4,507	4,164	3,915	3,989	4,077	9,468	4,420	4,681	3,511	4,074	2,749	3,291	1,912	1,624	1,624	1,707	432	897	555	818	569	411	355	508	3,011	309	889	298	2	1	1	4	2	1	2	7	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Tax Provision	58,761	-20,691	39,012	692	-27	1,333	1,006	789	233	0	0	0	0	0	-166	-166	0	0	0	0	-55	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Operating Expenses	10,321	271,536	13,848	14,001	15,045	10,278	8,064	13,813	10,463	5,490	7,604	6,782	4,361	4,605	4,710	4,871	8,118	4,206	5,250	6,051	4,976	4,674	3,251	1,667	3,076	7,986	4,317	3,609	3,736	2,098	4,586	4,337	5,818	4,615	4,256	4,353	4,925	4,699	3,981	3,998	4,507	4,164	3,947	4,019	-67,984	37,549	30,064	23,104	18,484	14,907	11,177	10,227	4,548	5,470	5,470	3,619	2,920	1,857	1,300	603	974	568	628	557	3,011	309	889	298	2	1	1	4	27	1	2	7	17	11	2	0	0	0	2	0	0	1	0	2	0	0	0	2	3	0	1	3	0
Total Other Income Expense Net	446,496	-37,019	61,772	223,949	-22,493	303,728	-17,835	-506,075	-12,610	-127,987	-201,531	-148,411	-153,912	-225,564	-835,889	353,826	-123,698	43,822	3,835	-131,932	174,998	-39,328	-132,664	-20,105	-36,355	-12,663	16,418	16,961	-11,164	-40,439	-99,404	-101,930	-149,612	-303,054	-304,175	-334,765	163,065	61,596	-46,554	-14,647	2,746	-37,619	16,243	-15,282	1,383	-20,607	48,704	-14,701	-26,316	25,281	15,010	-23,774	-144	-117	-117	-88	-1,240	322	-139	814	-44	95	310	98	142	42	-425	10	0	0	0	0	25	0	50	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Revenue	310,591	313,973	418,785	428,558	445,647	534,050	549,643	456,458	332,373	259,670	225,717	157,332	99,515	73,683	20,667	130,204	160,709	157,992	149,849	132,689	152,567	145,417	109,049	86,885	72,480	54,262	48,389	48,856	47,085	41,728	42,537	28,372	39,349	49,790	63,074	50,461	94,459	119,194	121,158	96,803	99,167	107,233	79,651	83,180	80,388	80,703	70,503	65,224	53,302	43,769	35,586	27,067	16,232	9,884	9,884	7,222	6,432	4,856	2,275	1,129	658	765	1,363	287	0	0	0	-136	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-

Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue	1,907,009
Cost of Revenue	-993,148
Gross Profit	913,861	913,861

Operating Income (+$)
Gross Profit	913,861
Operating Expense	-40,849
Operating Income	873,012	873,012

Operating Expense (+$)
Research Development	0
Selling General Administrative	46,801
Selling And Marketing Expenses	10,400
Operating Expense	40,849	57,201

Net Interest Income (+$)
Interest Income	0
Interest Expense	-138,663
Other Finance Cost	-15,704
Net Interest Income	-122,959

Pretax Income (+$)
Operating Income	873,012
Net Interest Income	-122,959
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	1,000,742	745,282 EBIT - interestExpense = 734,349 1,000,742 1,061,632
Interest Expense	138,663
Earnings Before Interest and Taxes (EBIT)	873,012	1,139,405
Earnings Before Interest and Taxes (EBITDA)	1,359,036

After tax Income (+$)
Income Before Tax	1,000,742
Tax Provision	-18,985
Net Income From Continuing Ops	679,185	981,757
Net Income	922,969
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	1,033,997
Total Other Income/Expenses Net	127,730	122,959

Technical Analysis of Northern Oil & Gas Inc
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Northern Oil & Gas Inc. The general trend of Northern Oil & Gas Inc is BULLISH with 85.7% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Northern Oil & Gas Inc's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (85.7%)		Bearish trend (-85.7%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of Northern Oil & Gas Inc.

The long score for the Support & Resistance is 1/1.
The longshort score for the Support & Resistance is 1/(-1 +1).

Around support: The price is currently trading around a support level. This can be considered as a potential entry level. +1

The bullish price targets are: 43.29.

The bearish price targets are: 42.34 > 40.68 > 40.45.

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Northern Oil & Gas Inc Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Northern Oil & Gas Inc. The current mas is .

The long score for the Moving Averages is 13/14.
The longshort score for the Moving Averages is 12/(-14 +14).

MA 20 trending up: The MA 20 is trending up. +1
Close > MA 20: The price is above the MA 20. +1
MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
MA 50 trending up: The MA 50 is trending up. +1
Close > MA 50: The price is above the MA 50. +1
MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
MA 100 trending up: The MA 100 is trending up. +1
Close > MA 100: The price is above the MA 100. +1
MA 100 < MA 200: The MA 100 is lower than the MA 200. -1
MA 200 trending up: The MA 200 is trending up. +1
Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

Northern Oil & Gas Inc Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Northern Oil & Gas Inc. The current macd is 1.33275858.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-4 +4).

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Northern Oil & Gas Inc price going down in the near term. -2
MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Northern Oil & Gas Inc. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Northern Oil & Gas Inc price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1

Northern Oil & Gas Inc Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of Northern Oil & Gas Inc. The current adx is 46.76.

The long score for the Directional Movement Index (DMI) is 3/7.
The longshort score for the Directional Movement Index (DMI) is 3/(-7 +7).

PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Northern Oil & Gas Inc shares, leading to potential upward momentum in its price. +1
PLUS_ID > MINUS_DI && ADX > 25 && ADX trending down: The ADX is above 25 and indicates a strong bullish trend. The ADX is declining, the bullish trend is weakening. Could be a potential reversal to the downside. +2

Northern Oil & Gas Inc Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Northern Oil & Gas Inc. The current sar is 41.60.

The long score for the Parabolic SAR is 1/1.
The longshort score for the Parabolic SAR is 1/(-1 +1).

Close > SAR: The price is above the SAR. It's generally considered a bullish signal. +1

Northern Oil & Gas Inc Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Northern Oil & Gas Inc. The current rsi is 72.47. The current phase is Overbought in bull market.

The long score for the Relative Strength Index (RSI) is 0/13.
The longshort score for the Relative Strength Index (RSI) is -2/(-13 +13).

Overbought in bull market: Short-term excessive buying, potential for pullback. Consider taking profits, be cautious of potential correction. -1
Trending down: The RSI is trending down. -1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

Northern Oil & Gas Inc Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Northern Oil & Gas Inc. The current phase is Overbought in bull market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 0/(-6 +6).

STOCH > 50: The STOCH %K is above 50. There are more buyers than sellers. +1
STOCH > 80: The STOCH %K is above 80 and overbought. +2
STOCH %K line < STOCH %D line: The STOCH %K line is below the STOCH %D line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Northern Oil & Gas Inc price going down in the near term. -2
Trending down: The STOCH %K is trending down. -1

Northern Oil & Gas Inc Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Northern Oil & Gas Inc. The current cci is 82.66.

Northern Oil & Gas Inc Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Northern Oil & Gas Inc. The current cmo is 42.28.

The long score for the Chande Momentum Oscillator (CMO) is 1/1.
The longshort score for the Chande Momentum Oscillator (CMO) is 1/(-1 +1).

CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1

Northern Oil & Gas Inc Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of Northern Oil & Gas Inc. The current willr is -14.44444444.

The long score for the Williams %R is 1/1.
The longshort score for the Williams %R is 1/(-1 +1).

WILLR > -20: The Williams %R is above -20. This indicates that the price is in overbought territory, suggesting a potential price correction or trend reversal to the downside. +1

Northern Oil & Gas Inc Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of Northern Oil & Gas Inc.

Northern Oil & Gas Inc Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Northern Oil & Gas Inc. The current atr is 0.89148828.

Northern Oil & Gas Inc Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Northern Oil & Gas Inc. The current obv is 38,235,750.

Northern Oil & Gas Inc Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Northern Oil & Gas Inc. The current mfi is 79.18.

The long score for the Money Flow Index (MFI) is 1/2.
The longshort score for the Money Flow Index (MFI) is 1/(-2 +2).

MFI > 50: +1

Northern Oil & Gas Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Northern Oil & Gas Inc.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-12-01	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-05	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2023-12-06	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2023-12-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2023-12-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-14	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-15	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2023-12-18	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2023-12-19	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-26	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-29	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-02	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-01-03	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-04	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-05	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-10	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2024-01-19	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-23	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-24	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-25	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2024-01-29	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-30	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-31	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-01	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-02-02	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-06	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
2024-02-13	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-15	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-23	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-02-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-07	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-03-08	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-13	STOCH	LONG EXIT		The %K line crosses below the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-14	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-25	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-03-26	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-03-27	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-28	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-04-03	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-09	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-11	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-16	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-17	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-18	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-04-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-22	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-04-23	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-04-24	STOCH	LONG EXIT		The %K line crosses below the %D line.

6.3. Candlestick Patterns

Northern Oil & Gas Inc Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Northern Oil & Gas Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	72.465
Ma 20	Greater than	Ma 50	41.693
Ma 50	Greater than	Ma 100	38.211
Ma 100	Greater than	Ma 200	36.586
Open	Greater than	Close	43.140
Total			4/5 (80.0%)

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Quick analysis of Northern Oil & Gas Inc (30 sec.)

What can you expect buying and holding a share of Northern Oil & Gas Inc? (30 sec.)

How much money do you get?

What is your share worth?

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1. Valuation of Northern Oil & Gas Inc (5 min.)

$42.97

$20.30

$-58.46 - $-13.93

$-38.16 - $6.37

2. Growth of Northern Oil & Gas Inc (5 min.)

Is Northern Oil & Gas Inc growing?

How much money is Northern Oil & Gas Inc making?

How much money comes from the company's main activities?

3. Financial Health of Northern Oil & Gas Inc (5 min.)

4. Comparing to competitors in the Oil & Gas E&P industry (5 min.)

Industry Rankings (Oil & Gas E&P)

What can you expect buying and holding a share of Northern Oil & Gas Inc? (5 min.)

What can you expect buying and holding a share of Northern Oil & Gas Inc?

Speculation

Investing

How much money are you going to get?

When do you get the money?

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Linear %

Fundamentals of Northern Oil & Gas Inc

About Northern Oil & Gas Inc

Financial Health

Valuation

1.1. Profitability of Northern Oil & Gas Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Oil & Gas E&P)

1.1.2. Return on Assets

Trends

Compared to industry (Oil & Gas E&P)

1.1.3. Return on Equity

Trends

Compared to industry (Oil & Gas E&P)

1.2. Operating Efficiency of Northern Oil & Gas Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Oil & Gas E&P)

1.2.2. Operating Ratio

Trends

Compared to industry (Oil & Gas E&P)

1.3. Liquidity of Northern Oil & Gas Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Oil & Gas E&P)

1.3.2. Quick Ratio

Trends

Compared to industry (Oil & Gas E&P)

1.4. Solvency of Northern Oil & Gas Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Oil & Gas E&P)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Oil & Gas E&P)

2. Market Valuation of Northern Oil & Gas Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Oil & Gas E&P)

Northern Oil & Gas Inc
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