Saturday 17 October 2026
Export NAT’s income statement to Excel — free account
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. In the quarter to June 2026, revenue grew 134.0%, EPS grew 8,100.0%, free cash flow grew 197.5% and total debt fell 8.08%, each against the same quarter a year earlier.
7.66
0.16
−2.05%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
4 | 5 | 7 | 8 | 2 | 8 | 6 | 3 | 3 | 3 |
P/E ratio |
52.12 | 11.59 | 9.13 | 49.67 | 0.00 | 8.68 | 0.00 | 0.00 | 0.00 | 0.00 |
P/S ratio |
2.49 | 1.50 | 2.29 | 1.77 | 1.40 | 1.15 | 2.21 | 0.98 | 0.84 | 2.20 |
Altman Z-Score |
1.56 | 1.79 | 2.43 | 1.46 | (0.09) | — | 1.44 | 0.20 | (0.04) | 1.48 |
Altman Z″-Score (non-manufacturers) |
1.98 | 2.64 | 2.71 | 1.89 | (0.01) | — | 2.06 | 0.63 | 0.69 | 2.86 |
P/FCF ratio |
0.00 | 4.17 | 13.62 | 61.49 | 0.00 | 4.74 | 13.94 | 4.14 | 0.00 | 0.00 |
Beneish M-Score |
(2.43) | (2.84) | (2.74) | (2.43) | — | (0.17) | (3.23) | (2.96) | (2.87) | (3.50) |
P/Operating CF |
47.30 | 22.76 | 66.99 | 14.85 | (39.91) | (30.53) | 104.09 | 30.51 | 22.43 | 223.75 |
Dividend Safety Score |
2 | — | — | — | — | — | — | — | — | — |
P/B ratio |
1.64 | 1.03 | 1.66 | 1.12 | 0.55 | 0.74 | 1.18 | 0.47 | 0.30 | 0.90 |
Price to Tangible BV |
1.71 | 1.07 | 1.72 | 1.16 | 0.57 | 0.76 | 1.22 | 0.49 | 0.31 | 0.92 |
EV/Sales |
3.78 | 2.14 | 2.97 | 2.49 | 2.81 | 1.92 | 3.27 | 2.32 | 2.14 | 3.21 |
EV/EBITDA |
23.88 | 9.68 | 9.10 | 23.56 | 0.00 | 7.54 | 32.46 | 0.00 | 0.00 | 21.49 |
EV/Operating CF |
55.83 | 5.84 | 8.35 | 35.00 | (12.39) | 6.63 | 19.64 | (41.68) | 10.78 | 8.97 |
EV/FCF |
(16.30) | 5.96 | 17.70 | 86.28 | (11.50) | 7.92 | 20.62 | 9.78 | (23.30) | (108.36) |
Quick Ratio |
0.96 | 1.01 | 0.85 | 1.16 | 0.80 | 1.72 | 1.47 | 1.98 | 3.19 | 4.66 |
Current Ratio |
2.24 | 1.65 | 1.55 | 1.97 | 1.58 | 2.51 | 2.19 | 3.11 | 5.01 | 7.61 |
Net Debt/EBITDA |
3.61 | 1.68 | 1.48 | 2.70 | (3.78) | 1.92 | 3.36 | 10.34 | (4.49) | 2.48 |
Debt/Assets |
47.01% | 32.99% | 34.30% | 34.78% | 37.71% | 36.61% | 38.69% | 40.75% | 34.08% | 32.80% |
Debt/Equity |
0.95 | 0.53 | 0.56 | 0.57 | 0.64 | 0.60 | 0.67 | 0.73 | 0.55 | 0.51 |
Asset Turnover |
0.34 | 0.41 | 0.45 | 0.39 | 0.21 | 0.35 | 0.30 | 0.26 | 0.24 | 0.28 |
Operating CF/Net income |
1.62 | 2.75 | 1.41 | 1.60 | 0.26 | 2.22 | (5.11) | 0.17 | (0.15) | (28.68) |
Capex/Depreciation |
(1.50) | (0.05) | (1.39) | (0.27) | (0.05) | (0.25) | (0.04) | 1.11 | (0.37) | (1.50) |
Interest Coverage |
1.30 | 2.52 | 4.19 | 1.33 | (5.48) | 2.58 | 0.83 | (1.12) | (8.59) | 4.78 |
| 2.57% | 8.91% | 18.31% | 2.91% | (31.23%) | 8.38% | (1.73%) | (14.52%) | (25.91%) | (0.51%) | |
| 1.43% | 5.50% | 11.22% | 1.74% | (18.77%) | 4.99% | (0.98%) | (8.62%) | (16.46%) | (0.34%) | |
ROIC |
3.52% | 6.58% | 9.91% | 2.86% | (11.66%) | 5.68% | 2.14% | (2.44%) | (10.54%) | 2.71% |
Return on Tangible Assets |
1.48% | 6.18% | 12.23% | 1.88% | (22.70%) | 5.43% | (1.07%) | (9.25%) | (19.76%) | (0.37%) |
Average Days of Receivables |
23.76 | 16.93 | 24.50 | 22.02 | 17.48 | 6.53 | 28.29 | 28.53 | 27.61 | 18.45 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
9.62% | 8.24% | 5.84% | 5.54% | 7.98% | 4.96% | 4.25% | 4.40% | 4.23% | 3.44% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
Share Based Compensation of Revenue |
0.00% | 0.53% | 0.56% | 0.14% | 0.17% | 0.08% | 0.05% | 0.14% | 0.18% | 0.12% |
Graham Net Nets |
(0.42) | (0.40) | (0.26) | (0.33) | (0.89) | (0.63) | (0.44) | (1.25) | (1.41) | (0.40) |
Graham Number |
1.77 | 3.44 | 5.22 | 1.90 | 0.00 | 5.54 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
1.92% | 8.63% | 10.96% | 2.01% | (61.70%) | 11.53% | (1.63%) | (33.00%) | (27.50%) | (0.43%) |
Free Cash Flow Yield |
(9.32%) | 24.00% | 7.34% | 1.63% | (17.45%) | 21.09% | 7.17% | 24.18% | (11.00%) | (1.35%) |
Revenue per Share |
1.38 | 1.67 | 1.88 | 1.68 | 1.20 | 2.38 | 2.23 | 2.04 | 2.86 | 3.86 |
Operating CF per Share |
0.09 | 0.61 | 0.67 | 0.12 | (0.27) | 0.74 | 0.37 | (0.11) | 0.31 | 1.38 |
Capex per Share |
(0.41) | (0.01) | (0.35) | (0.07) | (0.02) | (0.12) | (0.02) | 0.60 | (0.36) | (1.50) |
Free Cash Flow per Share |
(0.32) | 0.60 | 0.32 | 0.05 | (0.29) | 0.62 | 0.35 | 0.48 | (0.06) | (0.11) |
Cash per Share |
0.22 | 0.21 | 0.16 | 0.31 | 0.27 | 0.42 | 0.44 | 0.35 | 0.56 | 0.89 |
Shareholders Equity per Share |
2.10 | 2.43 | 2.58 | 2.67 | 3.07 | 4.01 | 4.18 | 4.24 | 6.85 | 9.41 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
2.10 | 2.43 | 2.58 | 2.67 | 3.07 | 4.01 | 4.18 | 4.24 | 6.85 | 9.41 |
Free Cash Flow |
(67.87) | 125.54 | 65.78 | 9.79 | (47.92) | 92.87 | 50.33 | 68.65 | (5.83) | (10.58) |
Working Capital |
83.45 | 38.99 | 38.43 | 70.25 | 39.46 | 59.84 | 70.34 | 76.66 | 101.66 | 142.18 |
Capital Expenditures |
(87.70) | (2.62) | (73.67) | (14.34) | (3.46) | (18.08) | (2.53) | 84.75 | (37.57) | (138.36) |
Net Current Asset Value |
(305.77) | (210.00) | (231.98) | (197.24) | (245.82) | (275.70) | (306.11) | (356.13) | (303.01) | (315.15) |
EV/EBIT |
23.88 | 9.68 | 9.10 | 23.56 | 0.00 | 16.32 | 32.46 | 0.00 | 0.00 | 21.49 |
Capex to Sales |
0.30 | 0.01 | 0.19 | 0.04 | 0.02 | 0.05 | 0.01 | (0.29) | 0.13 | 0.39 |
Price to Operating Income |
15.72 | 6.77 | 7.00 | 16.79 | 0.00 | 9.78 | 21.94 | 0.00 | 0.00 | 14.73 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.08 | 0.08 | 0.07 | 0.07 | 0.10 | 0.08 | 0.08 | 0.08 | 0.11 | 0.09 |
Cash ROIC |
(7.41%) | 15.26% | 7.53% | 1.08% | (5.55%) | 9.12% | 4.76% | 6.31% | (0.50%) | (0.76%) |
Accounts Receivable Turnover |
16.59 | 16.45 | 16.75 | 22.74 | 24.90 | 22.93 | 13.45 | 12.83 | 14.66 | 15.32 |
Accounts Payable Turnover |
52.12 | 48.67 | 36.42 | 34.63 | 36.79 | 30.07 | 34.69 | 72.26 | 61.27 | 48.30 |
Inventory Turnover |
8.45 | 7.06 | 6.69 | 10.11 | 9.73 | 8.98 | 9.72 | 11.32 | 10.47 | 11.55 |
Average Days of Payables |
5.22 | 8.29 | 6.64 | 10.86 | 12.21 | 7.96 | 14.76 | 5.32 | 5.10 | 7.60 |
Days of Inventory on Hand |
41.14 | 42.70 | 60.06 | 39.68 | 38.88 | 37.69 | 39.48 | 30.18 | 36.62 | 36.96 |
Average Receivables |
17.63 | 21.26 | 23.38 | 14.92 | 7.86 | 15.47 | 23.59 | 22.53 | 20.27 | 23.33 |
Average Payables |
3.39 | 3.85 | 5.20 | 6.76 | 5.33 | 6.25 | 5.99 | 3.40 | 3.76 | 4.27 |
Average Inventory |
20.93 | 26.56 | 28.31 | 23.15 | 20.14 | 20.94 | 21.38 | 21.69 | 21.99 | 17.86 |
Average Assets |
859.88 | 848.39 | 879.54 | 865.52 | 912.75 | 1,002.63 | 1,051.01 | 1,106.09 | 1,245.48 | 1,294.55 |
Average Common Equity |
477.17 | 523.56 | 539.14 | 519.10 | 548.67 | 597.28 | 598.73 | 656.55 | 791.06 | 875.89 |
Columns are period end dates