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Side-by-side financial comparison of NORTHERN OIL & GAS, INC. (NOG) and VALMONT INDUSTRIES INC (VMI). Click either name above to swap in a different company.
VALMONT INDUSTRIES INC is the larger business by last-quarter revenue ($1.0B vs $610.2M, roughly 1.7× NORTHERN OIL & GAS, INC.). VALMONT INDUSTRIES INC runs the higher net margin — 16.2% vs -11.6%, a 27.8% gap on every dollar of revenue. On growth, VALMONT INDUSTRIES INC posted the faster year-over-year revenue change (0.1% vs -72.6%). VALMONT INDUSTRIES INC produced more free cash flow last quarter ($70.4M vs $43.2M). Over the past eight quarters, NORTHERN OIL & GAS, INC.'s revenue compounded faster (4.3% CAGR vs 3.0%).
Marathon Oil Corporation was an American company engaged in hydrocarbon exploration. In November 2024, it was acquired by ConocoPhillips and absorbed into the company.
Valmont Industries, Inc. is a large, publicly held American manufacturer of Valley center pivot and linear irrigation equipment, windmill support structures, lighting and traffic poles and steel utility poles.
NOG vs VMI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $610.2M | $1.0B |
| Net Profit | $-70.7M | $168.0M |
| Gross Margin | — | 29.8% |
| Operating Margin | — | 11.2% |
| Net Margin | -11.6% | 16.2% |
| Revenue YoY | -72.6% | 0.1% |
| Net Profit YoY | -198.7% | 116.3% |
| EPS (diluted) | $-0.73 | $9.02 |
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 | $1.0B | ||
| Q3 25 | $556.6M | $1.0B | ||
| Q2 25 | $706.8M | $1.1B | ||
| Q1 25 | $602.1M | $969.3M | ||
| Q4 24 | $515.0M | $1.0B | ||
| Q3 24 | $753.6M | $1.0B | ||
| Q2 24 | $560.8M | $1.0B |
| Q1 26 | $-70.7M | — | ||
| Q4 25 | $-70.7M | $168.0M | ||
| Q3 25 | $-129.1M | $99.0M | ||
| Q2 25 | $99.6M | $-4.0M | ||
| Q1 25 | $139.0M | $87.3M | ||
| Q4 24 | $71.7M | $77.7M | ||
| Q3 24 | $298.4M | $83.1M | ||
| Q2 24 | $138.6M | $99.7M |
| Q1 26 | — | — | ||
| Q4 25 | 80.4% | 29.8% | ||
| Q3 25 | 78.7% | 30.4% | ||
| Q2 25 | 82.8% | 30.6% | ||
| Q1 25 | 81.1% | 30.0% | ||
| Q4 24 | 77.4% | 30.2% | ||
| Q3 24 | 85.8% | 29.6% | ||
| Q2 24 | 82.0% | 30.8% |
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | 11.2% | ||
| Q3 25 | -22.6% | 13.5% | ||
| Q2 25 | 24.9% | 2.8% | ||
| Q1 25 | 38.1% | 13.2% | ||
| Q4 24 | 25.8% | 11.6% | ||
| Q3 24 | 57.6% | 12.3% | ||
| Q2 24 | 39.0% | 14.2% |
| Q1 26 | -11.6% | — | ||
| Q4 25 | -11.6% | 16.2% | ||
| Q3 25 | -23.2% | 9.5% | ||
| Q2 25 | 14.1% | -0.4% | ||
| Q1 25 | 23.1% | 9.0% | ||
| Q4 24 | 13.9% | 7.5% | ||
| Q3 24 | 39.6% | 8.1% | ||
| Q2 24 | 24.7% | 9.6% |
| Q1 26 | $-0.73 | — | ||
| Q4 25 | $-0.67 | $9.02 | ||
| Q3 25 | $-1.33 | $4.98 | ||
| Q2 25 | $1.00 | $-1.53 | ||
| Q1 25 | $1.39 | $4.32 | ||
| Q4 24 | $0.71 | $3.85 | ||
| Q3 24 | $2.96 | $4.11 | ||
| Q2 24 | $1.36 | $4.91 |
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 | $187.1M |
| Total DebtLower is stronger | — | $795.7M |
| Stockholders' EquityBook value | $2.1B | $1.6B |
| Total Assets | $5.4B | $3.4B |
| Debt / EquityLower = less leverage | — | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $14.3M | — | ||
| Q4 25 | $14.3M | $187.1M | ||
| Q3 25 | $31.6M | $226.1M | ||
| Q2 25 | $25.9M | $208.5M | ||
| Q1 25 | $33.6M | $184.4M | ||
| Q4 24 | $8.9M | $164.3M | ||
| Q3 24 | $34.4M | $200.5M | ||
| Q2 24 | $7.8M | $163.1M |
| Q1 26 | — | — | ||
| Q4 25 | $2.4B | $795.7M | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.4B | $730.6M | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $1.9B | — |
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $1.6B | ||
| Q3 25 | $2.2B | $1.6B | ||
| Q2 25 | $2.4B | $1.5B | ||
| Q1 25 | $2.4B | $1.6B | ||
| Q4 24 | $2.3B | $1.5B | ||
| Q3 24 | $2.3B | $1.5B | ||
| Q2 24 | $2.1B | $1.5B |
| Q1 26 | $5.4B | — | ||
| Q4 25 | $5.4B | $3.4B | ||
| Q3 25 | $5.5B | $3.4B | ||
| Q2 25 | $5.7B | $3.3B | ||
| Q1 25 | $5.7B | $3.4B | ||
| Q4 24 | $5.6B | $3.3B | ||
| Q3 24 | $5.1B | $3.5B | ||
| Q2 24 | $4.7B | $3.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.13× | 0.49× | ||
| Q3 25 | 1.05× | — | ||
| Q2 25 | 0.98× | — | ||
| Q1 25 | 0.96× | — | ||
| Q4 24 | 1.02× | 0.47× | ||
| 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 | $111.2M |
| Free Cash FlowOCF − Capex | $43.2M | $70.4M |
| FCF MarginFCF / Revenue | 7.1% | 6.8% |
| Capex IntensityCapex / Revenue | 31.5% | 3.9% |
| Cash ConversionOCF / Net Profit | — | 0.66× |
| TTM Free Cash FlowTrailing 4 quarters | — | $311.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $312.6M | — | ||
| Q4 25 | $312.6M | $111.2M | ||
| Q3 25 | $423.1M | $112.5M | ||
| Q2 25 | $362.1M | $167.6M | ||
| Q1 25 | $407.4M | $65.1M | ||
| Q4 24 | $290.3M | $193.4M | ||
| Q3 24 | $385.8M | $225.1M | ||
| Q2 24 | $340.5M | $130.8M |
| Q1 26 | $43.2M | — | ||
| Q4 25 | — | $70.4M | ||
| Q3 25 | — | $70.6M | ||
| Q2 25 | — | $135.6M | ||
| Q1 25 | — | $34.8M | ||
| Q4 24 | — | $167.8M | ||
| Q3 24 | — | $204.6M | ||
| Q2 24 | — | $112.5M |
| Q1 26 | 7.1% | — | ||
| Q4 25 | — | 6.8% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | — | 16.2% | ||
| Q3 24 | — | 20.1% | ||
| Q2 24 | — | 10.8% |
| Q1 26 | 31.5% | — | ||
| Q4 25 | — | 3.9% | ||
| Q3 25 | — | 4.0% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 1.14× | ||
| Q2 25 | 3.64× | — | ||
| Q1 25 | 2.93× | 0.75× | ||
| Q4 24 | 4.05× | 2.49× | ||
| Q3 24 | 1.29× | 2.71× | ||
| Q2 24 | 2.46× | 1.31× |
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% |
VMI
| Utility Product Line | $424.5M | 41% |
| Lighting And Transportation | $204.6M | 20% |
| Irrigation Equipment And Parts Excluding Technology | $199.0M | 19% |
| Services | $113.6M | 11% |
| Telecommunications | $73.8M | 7% |
| Technology Products And Services | $23.7M | 2% |
