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Side-by-side financial comparison of NORTHERN OIL & GAS, INC. (NOG) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
WATTS WATER TECHNOLOGIES INC is the larger business by last-quarter revenue ($625.1M vs $610.2M, roughly 1.0× NORTHERN OIL & GAS, INC.). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs -11.6%, a 25.0% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs -72.6%). WATTS WATER TECHNOLOGIES INC produced more free cash flow last quarter ($140.3M vs $43.2M). Over the past eight quarters, WATTS WATER TECHNOLOGIES INC's revenue compounded faster (4.6% 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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
NOG vs WTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $610.2M | $625.1M |
| Net Profit | $-70.7M | $83.7M |
| Gross Margin | — | 49.5% |
| Operating Margin | — | 18.2% |
| Net Margin | -11.6% | 13.4% |
| Revenue YoY | -72.6% | 15.7% |
| Net Profit YoY | -198.7% | 24.0% |
| EPS (diluted) | $-0.73 | $2.50 |
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 | $625.1M | ||
| Q3 25 | $556.6M | $611.7M | ||
| Q2 25 | $706.8M | $643.7M | ||
| Q1 25 | $602.1M | $558.0M | ||
| Q4 24 | $515.0M | $540.4M | ||
| Q3 24 | $753.6M | $543.6M | ||
| Q2 24 | $560.8M | $597.3M |
| Q1 26 | $-70.7M | — | ||
| Q4 25 | $-70.7M | $83.7M | ||
| Q3 25 | $-129.1M | $82.2M | ||
| Q2 25 | $99.6M | $100.9M | ||
| Q1 25 | $139.0M | $74.0M | ||
| Q4 24 | $71.7M | $67.5M | ||
| Q3 24 | $298.4M | $69.1M | ||
| Q2 24 | $138.6M | $82.0M |
| Q1 26 | — | — | ||
| Q4 25 | 80.4% | 49.5% | ||
| Q3 25 | 78.7% | 48.8% | ||
| Q2 25 | 82.8% | 50.6% | ||
| Q1 25 | 81.1% | 48.8% | ||
| Q4 24 | 77.4% | 46.7% | ||
| Q3 24 | 85.8% | 47.3% | ||
| Q2 24 | 82.0% | 47.7% |
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | 18.2% | ||
| Q3 25 | -22.6% | 18.2% | ||
| Q2 25 | 24.9% | 21.0% | ||
| Q1 25 | 38.1% | 15.7% | ||
| Q4 24 | 25.8% | 16.5% | ||
| Q3 24 | 57.6% | 17.1% | ||
| Q2 24 | 39.0% | 18.7% |
| Q1 26 | -11.6% | — | ||
| Q4 25 | -11.6% | 13.4% | ||
| Q3 25 | -23.2% | 13.4% | ||
| Q2 25 | 14.1% | 15.7% | ||
| Q1 25 | 23.1% | 13.3% | ||
| Q4 24 | 13.9% | 12.5% | ||
| Q3 24 | 39.6% | 12.7% | ||
| Q2 24 | 24.7% | 13.7% |
| Q1 26 | $-0.73 | — | ||
| Q4 25 | $-0.67 | $2.50 | ||
| Q3 25 | $-1.33 | $2.45 | ||
| Q2 25 | $1.00 | $3.01 | ||
| Q1 25 | $1.39 | $2.21 | ||
| Q4 24 | $0.71 | $2.02 | ||
| Q3 24 | $2.96 | $2.06 | ||
| Q2 24 | $1.36 | $2.44 |
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 | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $2.0B |
| Total Assets | $5.4B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $14.3M | — | ||
| Q4 25 | $14.3M | $405.5M | ||
| Q3 25 | $31.6M | $457.7M | ||
| Q2 25 | $25.9M | $369.3M | ||
| Q1 25 | $33.6M | $336.8M | ||
| Q4 24 | $8.9M | $386.9M | ||
| Q3 24 | $34.4M | $303.9M | ||
| Q2 24 | $7.8M | $279.4M |
| 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 | $2.0B | ||
| Q3 25 | $2.2B | $2.0B | ||
| Q2 25 | $2.4B | $1.9B | ||
| Q1 25 | $2.4B | $1.8B | ||
| Q4 24 | $2.3B | $1.7B | ||
| Q3 24 | $2.3B | $1.7B | ||
| Q2 24 | $2.1B | $1.6B |
| Q1 26 | $5.4B | — | ||
| Q4 25 | $5.4B | $2.9B | ||
| Q3 25 | $5.5B | $2.7B | ||
| Q2 25 | $5.7B | $2.6B | ||
| Q1 25 | $5.7B | $2.5B | ||
| Q4 24 | $5.6B | $2.4B | ||
| Q3 24 | $5.1B | $2.4B | ||
| Q2 24 | $4.7B | $2.4B |
| 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 | $154.7M |
| Free Cash FlowOCF − Capex | $43.2M | $140.3M |
| FCF MarginFCF / Revenue | 7.1% | 22.4% |
| Capex IntensityCapex / Revenue | 31.5% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | — | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $312.6M | — | ||
| Q4 25 | $312.6M | $154.7M | ||
| Q3 25 | $423.1M | $122.4M | ||
| Q2 25 | $362.1M | $69.7M | ||
| Q1 25 | $407.4M | $55.2M | ||
| Q4 24 | $290.3M | $139.5M | ||
| Q3 24 | $385.8M | $90.7M | ||
| Q2 24 | $340.5M | $85.3M |
| Q1 26 | $43.2M | — | ||
| Q4 25 | — | $140.3M | ||
| Q3 25 | — | $110.9M | ||
| Q2 25 | — | $59.5M | ||
| Q1 25 | — | $45.6M | ||
| Q4 24 | — | $127.5M | ||
| Q3 24 | — | $84.3M | ||
| Q2 24 | — | $78.5M |
| Q1 26 | 7.1% | — | ||
| Q4 25 | — | 22.4% | ||
| Q3 25 | — | 18.1% | ||
| Q2 25 | — | 9.2% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | 23.6% | ||
| Q3 24 | — | 15.5% | ||
| Q2 24 | — | 13.1% |
| Q1 26 | 31.5% | — | ||
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.85× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | 3.64× | 0.69× | ||
| Q1 25 | 2.93× | 0.75× | ||
| Q4 24 | 4.05× | 2.07× | ||
| Q3 24 | 1.29× | 1.31× | ||
| Q2 24 | 2.46× | 1.04× |
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% |
WTS
Segment breakdown not available.
