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Side-by-side financial comparison of NORTHERN OIL & GAS, INC. (NOG) and Ralliant Corp (RAL). Click either name above to swap in a different company.
NORTHERN OIL & GAS, INC. is the larger business by last-quarter revenue ($610.2M vs $529.1M, roughly 1.2× Ralliant Corp). Ralliant Corp runs the higher net margin — 7.5% vs -11.6%, a 19.1% gap on every dollar of revenue. On growth, Ralliant Corp posted the faster year-over-year revenue change (-0.5% vs -72.6%). Ralliant Corp produced more free cash flow last quarter ($126.6M vs $43.2M).
Marathon Oil Corporation was an American company engaged in hydrocarbon exploration. In November 2024, it was acquired by ConocoPhillips and absorbed into the company.
NOG vs RAL — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $610.2M | $529.1M |
| Net Profit | $-70.7M | $39.9M |
| Gross Margin | — | 50.8% |
| Operating Margin | — | 9.8% |
| Net Margin | -11.6% | 7.5% |
| Revenue YoY | -72.6% | -0.5% |
| Net Profit YoY | -198.7% | -56.1% |
| EPS (diluted) | $-0.73 | $0.35 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $610.2M | — | ||
| Q4 25 | $610.2M | — | ||
| Q3 25 | $556.6M | $529.1M | ||
| Q2 25 | $706.8M | $503.3M | ||
| Q1 25 | $602.1M | — | ||
| Q4 24 | $515.0M | — | ||
| Q3 24 | $753.6M | $531.7M | ||
| Q2 24 | $560.8M | $533.7M |
| Q1 26 | $-70.7M | — | ||
| Q4 25 | $-70.7M | — | ||
| Q3 25 | $-129.1M | $39.9M | ||
| Q2 25 | $99.6M | $47.6M | ||
| Q1 25 | $139.0M | — | ||
| Q4 24 | $71.7M | — | ||
| Q3 24 | $298.4M | $90.9M | ||
| Q2 24 | $138.6M | $64.8M |
| Q1 26 | — | — | ||
| Q4 25 | 80.4% | — | ||
| Q3 25 | 78.7% | 50.8% | ||
| Q2 25 | 82.8% | 49.3% | ||
| Q1 25 | 81.1% | — | ||
| Q4 24 | 77.4% | — | ||
| Q3 24 | 85.8% | 52.6% | ||
| Q2 24 | 82.0% | 51.5% |
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | — | ||
| Q3 25 | -22.6% | 9.8% | ||
| Q2 25 | 24.9% | 11.7% | ||
| Q1 25 | 38.1% | — | ||
| Q4 24 | 25.8% | — | ||
| Q3 24 | 57.6% | 20.9% | ||
| Q2 24 | 39.0% | 19.7% |
| Q1 26 | -11.6% | — | ||
| Q4 25 | -11.6% | — | ||
| Q3 25 | -23.2% | 7.5% | ||
| Q2 25 | 14.1% | 9.5% | ||
| Q1 25 | 23.1% | — | ||
| Q4 24 | 13.9% | — | ||
| Q3 24 | 39.6% | 17.1% | ||
| Q2 24 | 24.7% | 12.1% |
| Q1 26 | $-0.73 | — | ||
| Q4 25 | $-0.67 | — | ||
| Q3 25 | $-1.33 | $0.35 | ||
| Q2 25 | $1.00 | $0.42 | ||
| Q1 25 | $1.39 | — | ||
| Q4 24 | $0.71 | — | ||
| Q3 24 | $2.96 | $0.81 | ||
| Q2 24 | $1.36 | $0.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $14.3M | $264.2M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $2.1B | $3.0B |
| Total Assets | $5.4B | $5.3B |
| Debt / EquityLower = less leverage | — | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $14.3M | — | ||
| Q4 25 | $14.3M | — | ||
| Q3 25 | $31.6M | $264.2M | ||
| Q2 25 | $25.9M | $198.6M | ||
| Q1 25 | $33.6M | — | ||
| Q4 24 | $8.9M | — | ||
| Q3 24 | $34.4M | — | ||
| Q2 24 | $7.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.3B | $1.1B | ||
| Q2 25 | $2.4B | $1.1B | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $1.9B | — |
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.2B | $3.0B | ||
| Q2 25 | $2.4B | $3.0B | ||
| Q1 25 | $2.4B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | $4.0B | ||
| Q2 24 | $2.1B | $4.0B |
| Q1 26 | $5.4B | — | ||
| Q4 25 | $5.4B | — | ||
| Q3 25 | $5.5B | $5.3B | ||
| Q2 25 | $5.7B | $5.2B | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $5.6B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $4.7B | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.13× | — | ||
| Q3 25 | 1.05× | 0.39× | ||
| Q2 25 | 0.98× | 0.38× | ||
| Q1 25 | 0.96× | — | ||
| Q4 24 | 1.02× | — | ||
| Q3 24 | 0.84× | — | ||
| Q2 24 | 0.91× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $312.6M | $138.6M |
| Free Cash FlowOCF − Capex | $43.2M | $126.6M |
| FCF MarginFCF / Revenue | 7.1% | 23.9% |
| Capex IntensityCapex / Revenue | 31.5% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 3.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $312.6M | — | ||
| Q4 25 | $312.6M | — | ||
| Q3 25 | $423.1M | $138.6M | ||
| Q2 25 | $362.1M | — | ||
| Q1 25 | $407.4M | — | ||
| Q4 24 | $290.3M | — | ||
| Q3 24 | $385.8M | — | ||
| Q2 24 | $340.5M | — |
| Q1 26 | $43.2M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $126.6M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 7.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 23.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 31.5% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 3.47× | ||
| Q2 25 | 3.64× | — | ||
| Q1 25 | 2.93× | — | ||
| Q4 24 | 4.05× | — | ||
| Q3 24 | 1.29× | — | ||
| Q2 24 | 2.46× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NOG
| Oil and Gas Sales | $447.7M | 73% |
| Gain on Commodity Derivatives, Net | $159.3M | 26% |
| Other Revenue | $3.1M | 1% |
RAL
| Industrial Manufacturing | $111.1M | 21% |
| Defense And Space | $93.6M | 18% |
| Diversified Electronics | $91.0M | 17% |
| Test And Measurement | $76.8M | 15% |
| Communications | $60.7M | 11% |
| Semiconductors | $51.4M | 10% |
| Other Direct End Markets | $44.4M | 8% |
