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Side-by-side financial comparison of NORTHERN OIL & GAS, INC. (NOG) and Bristow Group Inc. (VTOL). 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 $377.3M, roughly 1.6× Bristow Group Inc.). Bristow Group Inc. runs the higher net margin — 4.9% vs -11.6%, a 16.5% gap on every dollar of revenue. On growth, Bristow Group Inc. posted the faster year-over-year revenue change (6.7% vs -72.6%). Bristow Group Inc. produced more free cash flow last quarter ($47.8M vs $43.2M). Over the past eight quarters, Bristow Group Inc.'s revenue compounded faster (5.8% 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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
NOG vs VTOL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $610.2M | $377.3M |
| Net Profit | $-70.7M | $18.4M |
| Gross Margin | — | — |
| Operating Margin | — | 8.5% |
| Net Margin | -11.6% | 4.9% |
| Revenue YoY | -72.6% | 6.7% |
| Net Profit YoY | -198.7% | -42.1% |
| EPS (diluted) | $-0.73 | $0.61 |
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 | $377.3M | ||
| Q3 25 | $556.6M | $386.3M | ||
| Q2 25 | $706.8M | $376.4M | ||
| Q1 25 | $602.1M | $350.5M | ||
| Q4 24 | $515.0M | $353.5M | ||
| Q3 24 | $753.6M | $365.1M | ||
| Q2 24 | $560.8M | $359.7M |
| Q1 26 | $-70.7M | — | ||
| Q4 25 | $-70.7M | $18.4M | ||
| Q3 25 | $-129.1M | $51.5M | ||
| Q2 25 | $99.6M | $31.7M | ||
| Q1 25 | $139.0M | $27.4M | ||
| Q4 24 | $71.7M | $31.8M | ||
| Q3 24 | $298.4M | $28.2M | ||
| Q2 24 | $138.6M | $28.2M |
| 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% | 8.5% | ||
| Q3 25 | -22.6% | 13.1% | ||
| Q2 25 | 24.9% | 11.3% | ||
| Q1 25 | 38.1% | 9.6% | ||
| Q4 24 | 25.8% | 9.0% | ||
| Q3 24 | 57.6% | 9.1% | ||
| Q2 24 | 39.0% | 12.4% |
| Q1 26 | -11.6% | — | ||
| Q4 25 | -11.6% | 4.9% | ||
| Q3 25 | -23.2% | 13.3% | ||
| Q2 25 | 14.1% | 8.4% | ||
| Q1 25 | 23.1% | 7.8% | ||
| Q4 24 | 13.9% | 9.0% | ||
| Q3 24 | 39.6% | 7.7% | ||
| Q2 24 | 24.7% | 7.8% |
| Q1 26 | $-0.73 | — | ||
| Q4 25 | $-0.67 | $0.61 | ||
| Q3 25 | $-1.33 | $1.72 | ||
| Q2 25 | $1.00 | $1.07 | ||
| Q1 25 | $1.39 | $0.92 | ||
| Q4 24 | $0.71 | $1.07 | ||
| Q3 24 | $2.96 | $0.95 | ||
| Q2 24 | $1.36 | $0.96 |
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 | $286.2M |
| Total DebtLower is stronger | — | $671.5M |
| Stockholders' EquityBook value | $2.1B | $1.1B |
| Total Assets | $5.4B | $2.3B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $14.3M | — | ||
| Q4 25 | $14.3M | $286.2M | ||
| Q3 25 | $31.6M | $245.5M | ||
| Q2 25 | $25.9M | $251.8M | ||
| Q1 25 | $33.6M | $191.1M | ||
| Q4 24 | $8.9M | $247.5M | ||
| Q3 24 | $34.4M | $200.3M | ||
| Q2 24 | $7.8M | $178.6M |
| Q1 26 | — | — | ||
| Q4 25 | $2.4B | $671.5M | ||
| Q3 25 | $2.3B | $675.0M | ||
| Q2 25 | $2.4B | $705.2M | ||
| Q1 25 | $2.3B | $701.9M | ||
| Q4 24 | $2.4B | $689.8M | ||
| Q3 24 | $2.0B | $629.1M | ||
| Q2 24 | $1.9B | $594.2M |
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $1.1B | ||
| Q3 25 | $2.2B | $1.0B | ||
| Q2 25 | $2.4B | $984.4M | ||
| Q1 25 | $2.4B | $931.7M | ||
| Q4 24 | $2.3B | $891.7M | ||
| Q3 24 | $2.3B | $899.2M | ||
| Q2 24 | $2.1B | $849.1M |
| Q1 26 | $5.4B | — | ||
| Q4 25 | $5.4B | $2.3B | ||
| Q3 25 | $5.5B | $2.3B | ||
| Q2 25 | $5.7B | $2.3B | ||
| Q1 25 | $5.7B | $2.2B | ||
| Q4 24 | $5.6B | $2.1B | ||
| Q3 24 | $5.1B | $2.1B | ||
| Q2 24 | $4.7B | $2.0B |
| Q1 26 | — | — | ||
| Q4 25 | 1.13× | 0.63× | ||
| Q3 25 | 1.05× | 0.65× | ||
| Q2 25 | 0.98× | 0.72× | ||
| Q1 25 | 0.96× | 0.75× | ||
| Q4 24 | 1.02× | 0.77× | ||
| Q3 24 | 0.84× | 0.70× | ||
| Q2 24 | 0.91× | 0.70× |
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 | $76.9M |
| Free Cash FlowOCF − Capex | $43.2M | $47.8M |
| FCF MarginFCF / Revenue | 7.1% | 12.7% |
| Capex IntensityCapex / Revenue | 31.5% | 7.7% |
| Cash ConversionOCF / Net Profit | — | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | — | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $312.6M | — | ||
| Q4 25 | $312.6M | $76.9M | ||
| Q3 25 | $423.1M | $23.1M | ||
| Q2 25 | $362.1M | $99.0M | ||
| Q1 25 | $407.4M | $-603.0K | ||
| Q4 24 | $290.3M | $51.1M | ||
| Q3 24 | $385.8M | $66.0M | ||
| Q2 24 | $340.5M | $33.7M |
| Q1 26 | $43.2M | — | ||
| Q4 25 | — | $47.8M | ||
| Q3 25 | — | $-6.2M | ||
| Q2 25 | — | $67.4M | ||
| Q1 25 | — | $-52.7M | ||
| Q4 24 | — | $-32.4M | ||
| Q3 24 | — | $9.0M | ||
| Q2 24 | — | $-16.7M |
| Q1 26 | 7.1% | — | ||
| Q4 25 | — | 12.7% | ||
| Q3 25 | — | -1.6% | ||
| Q2 25 | — | 17.9% | ||
| Q1 25 | — | -15.0% | ||
| Q4 24 | — | -9.2% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | -4.6% |
| Q1 26 | 31.5% | — | ||
| Q4 25 | — | 7.7% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 14.9% | ||
| Q4 24 | — | 23.6% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 14.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.17× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | 3.64× | 3.12× | ||
| Q1 25 | 2.93× | -0.02× | ||
| Q4 24 | 4.05× | 1.61× | ||
| Q3 24 | 1.29× | 2.34× | ||
| Q2 24 | 2.46× | 1.20× |
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% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
