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Side-by-side financial comparison of NORTHERN OIL & GAS, INC. (NOG) and Skyward Specialty Insurance Group, Inc. (SKWD). 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 $385.6M, roughly 1.6× Skyward Specialty Insurance Group, Inc.). Skyward Specialty Insurance Group, Inc. runs the higher net margin — 11.2% vs -11.6%, a 22.8% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs -72.6%). Skyward Specialty Insurance Group, Inc. produced more free cash flow last quarter ($402.6M vs $43.2M). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% CAGR vs 4.3%).
Marathon Oil Corporation was an American company engaged in hydrocarbon exploration. In November 2024, it was acquired by ConocoPhillips and absorbed into the company.
Skyward Specialty Insurance Group, Inc. is a specialty property and casualty insurance provider offering tailored coverage solutions including commercial auto, general liability, professional indemnity, and specialty property policies. It primarily serves small-to-medium enterprises and niche industry segments across the United States, focusing on underwriting complex, hard-to-place risks for underserved client groups.
NOG vs SKWD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $610.2M | $385.6M |
| Net Profit | $-70.7M | $43.2M |
| Gross Margin | — | — |
| Operating Margin | — | 14.2% |
| Net Margin | -11.6% | 11.2% |
| Revenue YoY | -72.6% | 26.7% |
| Net Profit YoY | -198.7% | 200.1% |
| EPS (diluted) | $-0.73 | $1.03 |
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 | $385.6M | ||
| Q3 25 | $556.6M | $382.5M | ||
| Q2 25 | $706.8M | $319.9M | ||
| Q1 25 | $602.1M | $328.5M | ||
| Q4 24 | $515.0M | $304.4M | ||
| Q3 24 | $753.6M | $300.9M | ||
| Q2 24 | $560.8M | $279.9M |
| Q1 26 | $-70.7M | — | ||
| Q4 25 | $-70.7M | $43.2M | ||
| Q3 25 | $-129.1M | $45.9M | ||
| Q2 25 | $99.6M | $38.8M | ||
| Q1 25 | $139.0M | $42.1M | ||
| Q4 24 | $71.7M | $14.4M | ||
| Q3 24 | $298.4M | $36.7M | ||
| Q2 24 | $138.6M | $31.0M |
| Q1 26 | — | — | ||
| Q4 25 | 80.4% | — | ||
| Q3 25 | 78.7% | — | ||
| Q2 25 | 82.8% | — | ||
| Q1 25 | 81.1% | — | ||
| Q4 24 | 77.4% | — | ||
| Q3 24 | 85.8% | — | ||
| Q2 24 | 82.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | 14.2% | ||
| Q3 25 | -22.6% | 15.8% | ||
| Q2 25 | 24.9% | 15.6% | ||
| Q1 25 | 38.1% | 15.7% | ||
| Q4 24 | 25.8% | 6.1% | ||
| Q3 24 | 57.6% | 15.6% | ||
| Q2 24 | 39.0% | 14.4% |
| Q1 26 | -11.6% | — | ||
| Q4 25 | -11.6% | 11.2% | ||
| Q3 25 | -23.2% | 12.0% | ||
| Q2 25 | 14.1% | 12.1% | ||
| Q1 25 | 23.1% | 12.8% | ||
| Q4 24 | 13.9% | 4.7% | ||
| Q3 24 | 39.6% | 12.2% | ||
| Q2 24 | 24.7% | 11.1% |
| Q1 26 | $-0.73 | — | ||
| Q4 25 | $-0.67 | $1.03 | ||
| Q3 25 | $-1.33 | $1.10 | ||
| Q2 25 | $1.00 | $0.93 | ||
| Q1 25 | $1.39 | $1.01 | ||
| Q4 24 | $0.71 | $0.33 | ||
| Q3 24 | $2.96 | $0.89 | ||
| Q2 24 | $1.36 | $0.75 |
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 | $168.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $1.0B |
| Total Assets | $5.4B | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $14.3M | — | ||
| Q4 25 | $14.3M | $168.5M | ||
| Q3 25 | $31.6M | $160.1M | ||
| Q2 25 | $25.9M | $136.6M | ||
| Q1 25 | $33.6M | $112.9M | ||
| Q4 24 | $8.9M | $121.6M | ||
| Q3 24 | $34.4M | $105.6M | ||
| Q2 24 | $7.8M | $73.0M |
| Q1 26 | — | — | ||
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $1.9B | — |
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $1.0B | ||
| Q3 25 | $2.2B | $961.4M | ||
| Q2 25 | $2.4B | $899.9M | ||
| Q1 25 | $2.4B | $850.7M | ||
| Q4 24 | $2.3B | $794.0M | ||
| Q3 24 | $2.3B | $797.5M | ||
| Q2 24 | $2.1B | $723.6M |
| Q1 26 | $5.4B | — | ||
| Q4 25 | $5.4B | $4.8B | ||
| Q3 25 | $5.5B | $4.6B | ||
| Q2 25 | $5.7B | $4.3B | ||
| Q1 25 | $5.7B | $4.0B | ||
| Q4 24 | $5.6B | $3.7B | ||
| Q3 24 | $5.1B | $3.6B | ||
| Q2 24 | $4.7B | $3.4B |
| Q1 26 | — | — | ||
| Q4 25 | 1.13× | — | ||
| Q3 25 | 1.05× | — | ||
| Q2 25 | 0.98× | — | ||
| 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 | $408.1M |
| Free Cash FlowOCF − Capex | $43.2M | $402.6M |
| FCF MarginFCF / Revenue | 7.1% | 104.4% |
| Capex IntensityCapex / Revenue | 31.5% | 1.4% |
| Cash ConversionOCF / Net Profit | — | 9.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | $755.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $312.6M | — | ||
| Q4 25 | $312.6M | $408.1M | ||
| Q3 25 | $423.1M | $171.4M | ||
| Q2 25 | $362.1M | $88.2M | ||
| Q1 25 | $407.4M | $96.8M | ||
| Q4 24 | $290.3M | $305.1M | ||
| Q3 24 | $385.8M | $168.0M | ||
| Q2 24 | $340.5M | $21.0M |
| Q1 26 | $43.2M | — | ||
| Q4 25 | — | $402.6M | ||
| Q3 25 | — | $168.9M | ||
| Q2 25 | — | $87.1M | ||
| Q1 25 | — | $96.6M | ||
| Q4 24 | — | $300.9M | ||
| Q3 24 | — | $167.6M | ||
| Q2 24 | — | $18.4M |
| Q1 26 | 7.1% | — | ||
| Q4 25 | — | 104.4% | ||
| Q3 25 | — | 44.2% | ||
| Q2 25 | — | 27.2% | ||
| Q1 25 | — | 29.4% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | — | 55.7% | ||
| Q2 24 | — | 6.6% |
| Q1 26 | 31.5% | — | ||
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 9.44× | ||
| Q3 25 | — | 3.73× | ||
| Q2 25 | 3.64× | 2.27× | ||
| Q1 25 | 2.93× | 2.30× | ||
| Q4 24 | 4.05× | 21.18× | ||
| Q3 24 | 1.29× | 4.58× | ||
| Q2 24 | 2.46× | 0.68× |
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% |
SKWD
Segment breakdown not available.
