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Nordic American Tankers Limited

NAT Energy Oil & Gas Midstream

Nordic American Tankers Limited’s revenue for fiscal 2025 (year ended December 2025) was $292.4 million, down 16.4% from fiscal 2024.

Revenue
+134.0%
EPS
+8,100.0%
Free cash flow
+197.5%
Total debt
−8.08%

Quarter to June 2026, against a year earlier

6.62 0.09 +1.38%
Market cap
$1.4B
P/E
11.2×
Fwd P/E
10.1×
Dividend yield
12.0%
F-score
4/9
Altman Z
1.56
Beneish M
−2.43
Dividend safety
2/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 5.74%

Capital & Financial Ratios $m

Size
Market Cap 1,380.00
Revenue ttm 387.58
Net income ttm 12.27
Free cash flow ttm 208.41
Net debt Q 273.27
Valuation
P/E 11.19
Forward P/E 10.10
Price / sales 3.61
Forward P/S Powerpack
Price / FCF 6.71
Price / book 3.14
Financial health
Current ratio Q 3.27 (at or above 1.5: strong)
Debt / equity Q 0.85
Interest coverage Q 9.72
Growth
Revenue growth Q +133.96% (above 0%: growing)
Operating income growth Q +920.94% (above 0%: growing)
EPS, this year +1,400.00% (at or above 15%: strong)
EPS, next year A −37.78% (below 0%: weak)
Revenue, next year A +3.38%
EPS, past 5 yrs −29.31% (below 0%: weak)
EPS, next 5 yrs A +40.10% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.3×, against a ten-year median of 2.8×; over the ten years it ranged from 1.6× in 2020 to 6.7× in 2018.
P/E against its own 10 years 44.93%
10-year low 10-year high
P/S against its own 10 years 95.53%
10-year low 10-year high
P/B against its own 10 years 97.84%
10-year low 10-year high
EV/Sales against its own 10 years 90.14%
10-year low 10-year high
EV/FCF against its own 10 years 31.94%
10-year low 10-year high

Dividends

Yield
12.0%
Annual rate
0.79
Payout ratio
133.9%
Growth, 2017–25
−4.63%/yr
  1. 0.53 ’17
  2. 0.16 ’18 −70
  3. 0.10 ’19 −38
  4. 0.45 ’20 +350
  5. 0.07 ’21 −84
  6. 0.11 ’22 +57
  7. 0.49 ’23 +345
  8. 0.40 ’24 −18
  9. 0.36 ’25 −10
  10. 0.81 ’26e +125
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 33 44 46 133
Receivables 26 16 19 22
Inventory 31 22 20 15
Other 14 10 58 38
109 99 151 224
2023 2024 2025 Q'26
Payables 3 4 3 4
ST’ Debt 32 22 35 35
Other 7 8 10 12
70 60 67 68

Compound Annual Growth %

10y 5y 3y
Sales (4.13%) (3.78%) (4.84%)
Cash Flow (19.54%) (29.14%) (6.35%)
Earnings (20.02%) (24.50%) (6.68%)
Book Value (6.59%) (5.75%) (6.21%)

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 0.23 Actual 0.24

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 0.00 −0.01 Miss by 0.01
Dec 2025 0.09 0.06 Miss by 0.03
Mar 2026 0.16 0.17 Beat by 0.01
Jun 2026 0.23 0.24 Beat by 0.01
Sep 2026 0.10 — Reports 27 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.22 0.32 — — —
’25 0.02 0.00 (0.01) 0.06 0.06
’24 0.07 0.10 0.04 0.01 0.22
’23 0.22 0.13 0.04 0.08 0.47
’22 (0.14) (0.02) 0.05 0.17 0.07
’21 (0.16) (0.18) (0.27) (0.45) (1.05)
’20 0.27 0.33 (0.07) (0.19) 0.34
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 79 94 — — —
’25 38 40 46 169 292
’24 61 66 52 171 350
’23 87 68 48 189 392
’22 16 35 47 242 339
’21 19 17 9 151 196
’20 86 123 37 137 355
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 30 69 — — —
’25 (1) 1 4 15 20
’24 38 33 35 23 128
’23 51 48 27 13 139
’22 24 (38) (2) 41 24
’21 (15) (6) (17) (7) (44)
’20 36 82 7 (14) 111
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 80 108 — — —
’25 22 (111) 4 17 (68)
’24 37 31 34 23 126
’23 51 48 27 (60) 66
’22 10 (69) 13 56 10
’21 (16) (7) (30) 5 (48)
’20 35 81 3 (27) 93
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 357 297 289 317 355 196 339 392 350 292 388 (2.2%) 302 299 — +1.1%
Gross margin, % 42.30 22.55 15.08 34.49 46.99 (0.09) 31.06 51.62 46.40 39.53 55.22 (2.8) pt
EBT 42 (196) (88) (10) 50 (171) 15 99 47 12 124 (12.8%)
EBT margin, % 11.83 (66.11) (30.30) (3.24) 14.13 (87.49) 4.46 25.23 13.33 4.21 31.88 (7.6) pt
Net income (4) (205) (95) (10) 50 (171) 15 99 47 12 12 n/m
Per share, $
Per share, $ Revenue 3.86 2.86 2.04 2.23 2.38 1.20 1.68 1.88 1.67 1.38 1.83 (10.8%)
Earnings (0.05) (1.97) (0.67) (0.07) 0.34 (1.05) 0.07 0.47 0.22 0.06 0.59 n/m
Cash flow 1.38 0.31 (0.11) 0.37 0.74 (0.27) 0.12 0.67 0.61 0.09 0.56 (25.8%)
Capex (1.50) (0.36) 0.60 (0.02) (0.12) (0.02) (0.07) (0.35) (0.01) (0.41) 0.43 (13.3%)
Free cash flow (0.11) (0.06) 0.48 0.35 0.62 (0.29) 0.05 0.32 0.60 (0.32) 0.98 +12.1%
Book value 9.41 6.85 4.24 4.18 4.01 3.07 2.67 2.58 2.43 2.10 2.26 (15.3%)
Shares, m 93 104 142 143 149 163 202 209 209 212 212 +9.6%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 8.68 0.00 49.67 9.13 11.59 52.12 11.19 13.1
P/S 2.16 0.84 0.98 2.21 1.15 1.40 1.77 2.29 1.50 2.49 3.61 1.7
P/B 0.88 0.30 0.47 1.18 0.74 0.55 1.12 1.66 1.03 1.64 3.14 1.0
EV/Sales 3.17 2.14 2.32 3.27 1.92 2.81 2.49 2.97 2.14 3.78 4.31 2.7
EV/FCF (106.96) (23.30) 9.78 20.62 7.92 (11.50) 86.28 17.70 5.96 (16.30) 8.02 (1.0)
Cash, $m
Cash, $m Operating cash flow 128 32 (16) 53 111 (44) 24 139 128 20 118 (18.7%)
Capex (138) (38) 85 (3) (18) (3) (14) (74) (3) (88) 91 (4.9%)
Free cash flow (11) (6) 69 50 93 (48) 10 66 126 (68) 208 +22.9%
Balance, $m
Balance, $m Working capital 142 102 77 70 60 39 70 38 39 83 156 (5.7%)
Net debt 361 330 387 336 295 276 243 268 225 378 273 +0.5%
Shareholders’ equity 871 711 602 595 599 498 540 538 509 446 478 (7.2%)
Returns, %
Returns, % ROA (0.34) (16.46) (8.62) (0.98) 4.99 (18.77) 1.74 11.22 5.50 1.43 13.17 +1.8 pt
ROIC 2.71 (10.54) (2.44) 2.14 5.68 (11.66) 2.86 9.91 6.58 3.52 13.29 +0.8 pt
ROE (0.51) (25.91) (14.52) (1.73) 8.38 (31.23) 2.91 18.31 8.91 2.57 0.00 +3.1 pt
People
People Employees 19 21 20 20 20 19 18 17 15 18 — (0.6%)
Revenue/emp, $m 18.81 14.15 14.45 15.86 17.73 10.30 18.85 23.04 23.32 16.25 — (1.6%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Nordic American Tankers Limited vs peers in Oil & Gas Midstream (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NGL NGL Energy Partners LP $1.8B — (loss-making) 11.9× +59.12% (above 0%: growing) +1,100.00% (above 0%: growing) −386.50% (below 0%: shrinking) 30.87% 14.68% Compare
GEL Genesis Energy, L.P. $1.5B 66.1× — (loss-making) +40.98% (above 0%: growing) n/m +2,417.50% (above 0%: growing) 32.06% 19.82% Compare
GLP Global Partners LP $1.4B 8.5× 7.9× +46.79% (above 0%: growing) +240.00% (above 0%: growing) +36.41% (above 0%: growing) 4.84% 1.58% Compare
NAT Nordic American Tankers Limited $1.4B 11.2× 10.1× +133.96% (above 0%: growing) n/m +197.49% (above 0%: growing) 83.25% 82.06%
FLNG Flex LNG Ltd. $1.4B 13.7× 12.1× +24.21% (above 0%: growing) +151.52% (above 0%: growing) +185.57% (above 0%: growing) 76.00% 55.68% Compare
PBT Permian Basin Royalty Trust $1.3B 81.6× 21.9× +34.59% (above 0%: growing) +60.00% (above 0%: growing) — 100.00% 92.68% Compare
TEN Tsakos Energy Navigation Ltd $1.3B 4.5× 3.9× +54.37% (above 0%: growing) +556.72% (above 0%: growing) +185.92% (above 0%: growing) 62.31% 54.53% Compare
NVGS Navigator Holdings Ltd. $1.2B 6.6× 6.9× +1.27% (above 0%: growing) +160.38% (above 0%: growing) +285.64% (above 0%: growing) 49.79% 23.29% Compare
TK Teekay Corporation Ltd. $1.1B 8.7× 41.1× −24.36% (below 0%: shrinking) −23.68% (below 0%: shrinking) +211.73% (above 0%: growing) 31.43% 27.41% Compare
Median of peers $1.4B 8.7× 11.9× +37.79% +160.38% +185.92% 40.93% 25.35%

All 57 Oil & Gas Midstream stocks →

Nordic American Tankers Limited (NAT) Latest News

23 Oct

Impact 4 · · Simply Wall St.

22 Oct

Impact 3 · · Zacks

25 Sep

Impact 3 · · Zacks

23 Sep

Impact 3 ·

15 Sep

Impact 4 ·

10 Sep

Impact 3 ·

28 Aug

Impact 3 ·

27 Aug

Impact 4 ·
Impact 3 ·

25 Aug

Impact 4 · transcript

23 Jul

Impact 3 ·

14 Jul

Impact 3 ·
Impact 3 ·

2 Jul

Impact 3 ·

25 Jun

Impact 4 · · Zacks

30 May

Impact 3 · · Simply Wall St.

29 May

Impact 4 · · GlobeNewswire

28 May

Impact 4 · · GlobeNewswire
Impact 3 · · Zacks

22 May

Impact 4 · · Simply Wall St.

15 May

Impact 3 · · GlobeNewswire

13 Apr

Impact 4 · · GlobeNewswire

8 Apr

Impact 3 · · Insider Monkey

4 Apr

Impact 4 · · 24/7 Wall St.

26 Mar

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.

23 Mar

Impact 4 · · GlobeNewswire

9 Mar

Impact 4 · · Insider Monkey

4 Mar

Impact 4 · · Insider Monkey
Impact 3 · · Simply Wall St.BarchartAssociated Press FinanceMT Newswires
stockrow.com/NAT · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com