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Side-by-side financial comparison of NORTHERN OIL & GAS, INC. (NOG) and TREX CO INC (TREX). 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 $343.4M, roughly 1.8× TREX CO INC). TREX CO INC runs the higher net margin — 17.9% vs -11.6%, a 29.5% gap on every dollar of revenue. On growth, TREX CO INC posted the faster year-over-year revenue change (1.0% vs -72.6%). NORTHERN OIL & GAS, INC. produced more free cash flow last quarter ($43.2M vs $-143.4M). Over the past eight quarters, NORTHERN OIL & GAS, INC.'s revenue compounded faster (4.3% CAGR vs -4.5%).
Marathon Oil Corporation was an American company engaged in hydrocarbon exploration. In November 2024, it was acquired by ConocoPhillips and absorbed into the company.
Trex Company, Inc. is a manufacturer of wood-alternative composite decking, residential railing, and other outdoor items made from recycled materials. Its headquarters is in Winchester, Virginia.
NOG vs TREX — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $610.2M | $343.4M |
| Net Profit | $-70.7M | $61.4M |
| Gross Margin | — | 40.5% |
| Operating Margin | — | 24.3% |
| Net Margin | -11.6% | 17.9% |
| Revenue YoY | -72.6% | 1.0% |
| Net Profit YoY | -198.7% | 1.6% |
| EPS (diluted) | $-0.73 | $0.58 |
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 | $343.4M | ||
| Q4 25 | $610.2M | $161.1M | ||
| Q3 25 | $556.6M | $285.3M | ||
| Q2 25 | $706.8M | $387.8M | ||
| Q1 25 | $602.1M | $340.0M | ||
| Q4 24 | $515.0M | $167.6M | ||
| Q3 24 | $753.6M | $233.7M | ||
| Q2 24 | $560.8M | $376.5M |
| Q1 26 | $-70.7M | $61.4M | ||
| Q4 25 | $-70.7M | $2.3M | ||
| Q3 25 | $-129.1M | $51.8M | ||
| Q2 25 | $99.6M | $75.9M | ||
| Q1 25 | $139.0M | $60.4M | ||
| Q4 24 | $71.7M | $9.8M | ||
| Q3 24 | $298.4M | $40.6M | ||
| Q2 24 | $138.6M | $87.0M |
| Q1 26 | — | 40.5% | ||
| Q4 25 | 80.4% | 30.2% | ||
| Q3 25 | 78.7% | 40.5% | ||
| Q2 25 | 82.8% | 40.8% | ||
| Q1 25 | 81.1% | 40.5% | ||
| Q4 24 | 77.4% | 32.7% | ||
| Q3 24 | 85.8% | 39.9% | ||
| Q2 24 | 82.0% | 44.7% |
| Q1 26 | — | 24.3% | ||
| Q4 25 | -5.5% | 2.2% | ||
| Q3 25 | -22.6% | 24.7% | ||
| Q2 25 | 24.9% | 26.4% | ||
| Q1 25 | 38.1% | 24.0% | ||
| Q4 24 | 25.8% | 9.2% | ||
| Q3 24 | 57.6% | 23.2% | ||
| Q2 24 | 39.0% | 31.1% |
| Q1 26 | -11.6% | 17.9% | ||
| Q4 25 | -11.6% | 1.4% | ||
| Q3 25 | -23.2% | 18.1% | ||
| Q2 25 | 14.1% | 19.6% | ||
| Q1 25 | 23.1% | 17.8% | ||
| Q4 24 | 13.9% | 5.8% | ||
| Q3 24 | 39.6% | 17.4% | ||
| Q2 24 | 24.7% | 23.1% |
| Q1 26 | $-0.73 | $0.58 | ||
| Q4 25 | $-0.67 | $0.03 | ||
| Q3 25 | $-1.33 | $0.48 | ||
| Q2 25 | $1.00 | $0.71 | ||
| Q1 25 | $1.39 | $0.56 | ||
| Q4 24 | $0.71 | $0.10 | ||
| Q3 24 | $2.96 | $0.37 | ||
| Q2 24 | $1.36 | $0.80 |
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 | $4.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $995.8M |
| Total Assets | $5.4B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $14.3M | $4.5M | ||
| Q4 25 | $14.3M | $3.8M | ||
| Q3 25 | $31.6M | $11.4M | ||
| Q2 25 | $25.9M | $5.5M | ||
| Q1 25 | $33.6M | $5.0M | ||
| Q4 24 | $8.9M | $1.3M | ||
| Q3 24 | $34.4M | $12.8M | ||
| Q2 24 | $7.8M | $1.2M |
| 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 | $995.8M | ||
| Q4 25 | $2.1B | $1.0B | ||
| Q3 25 | $2.2B | $1.0B | ||
| Q2 25 | $2.4B | $989.3M | ||
| Q1 25 | $2.4B | $910.1M | ||
| Q4 24 | $2.3B | $850.1M | ||
| Q3 24 | $2.3B | $887.9M | ||
| Q2 24 | $2.1B | $894.9M |
| Q1 26 | $5.4B | $1.7B | ||
| Q4 25 | $5.4B | $1.5B | ||
| Q3 25 | $5.5B | $1.5B | ||
| Q2 25 | $5.7B | $1.5B | ||
| Q1 25 | $5.7B | $1.6B | ||
| Q4 24 | $5.6B | $1.3B | ||
| Q3 24 | $5.1B | $1.3B | ||
| Q2 24 | $4.7B | $1.3B |
| 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 | $-118.4M |
| Free Cash FlowOCF − Capex | $43.2M | $-143.4M |
| FCF MarginFCF / Revenue | 7.1% | -41.8% |
| Capex IntensityCapex / Revenue | 31.5% | — |
| Cash ConversionOCF / Net Profit | — | -1.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $224.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $312.6M | $-118.4M | ||
| Q4 25 | $312.6M | $65.5M | ||
| Q3 25 | $423.1M | $196.9M | ||
| Q2 25 | $362.1M | $249.8M | ||
| Q1 25 | $407.4M | $-154.0M | ||
| Q4 24 | $290.3M | $-8.5M | ||
| Q3 24 | $385.8M | $132.8M | ||
| Q2 24 | $340.5M | $193.7M |
| Q1 26 | $43.2M | $-143.4M | ||
| Q4 25 | — | $22.1M | ||
| Q3 25 | — | $142.9M | ||
| Q2 25 | — | $203.0M | ||
| Q1 25 | — | $-233.5M | ||
| Q4 24 | — | $-89.3M | ||
| Q3 24 | — | $54.5M | ||
| Q2 24 | — | $158.2M |
| Q1 26 | 7.1% | -41.8% | ||
| Q4 25 | — | 13.7% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 52.3% | ||
| Q1 25 | — | -68.7% | ||
| Q4 24 | — | -53.3% | ||
| Q3 24 | — | 23.3% | ||
| Q2 24 | — | 42.0% |
| Q1 26 | 31.5% | — | ||
| Q4 25 | — | 26.9% | ||
| Q3 25 | — | 18.9% | ||
| Q2 25 | — | 12.1% | ||
| Q1 25 | — | 23.4% | ||
| Q4 24 | — | 48.2% | ||
| Q3 24 | — | 33.5% | ||
| Q2 24 | — | 9.4% |
| Q1 26 | — | -1.93× | ||
| Q4 25 | — | 28.45× | ||
| Q3 25 | — | 3.80× | ||
| Q2 25 | 3.64× | 3.29× | ||
| Q1 25 | 2.93× | -2.55× | ||
| Q4 24 | 4.05× | -0.87× | ||
| Q3 24 | 1.29× | 3.27× | ||
| Q2 24 | 2.46× | 2.23× |
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% |
TREX
Segment breakdown not available.
