Saturday 17 October 2026 Export NAT’s income statement to Excel — free account

Nordic American Tankers Limited

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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Market cap: $1.7B
P/E: 13.0×
Fwd P/E: 8.6×
Dividend yield: 10.3%
F-score: 4/9
Altman Z: 1.56
Beneish M: −2.43
Dividend safety: 2/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 5.74%

Capital & Financial Ratios $m

Market Cap 1,660.00

Revenue 387.58

Net Income 12.27

Free Cash Flow 208.41

Net Debt 273.27

Current Ratio 3.27

Debt/Equity 0.85

P/E ratio 12.98

Fwd P/E 8.56

P/S ratio 4.19

P/B ratio 3.64

Past 5Y EPS Growth (29.31%)

This Y EPS Growth 1,400.00%

Next Y EPS Growth (37.78%)

Next Y revenue growth 3.38%

Next 5Y EPS Growth 40.10%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 65.64%

10-year low 10-year high

P/S against its own 10 years 99.12%

10-year low 10-year high

P/B against its own 10 years 99.26%

10-year low 10-year high

EV/Sales against its own 10 years 95.80%

10-year low 10-year high

EV/FCF against its own 10 years 36.36%

10-year low 10-year high

Dividends

Payout Ratio 1.34

Annual Dividend Rate 0.79

Annual Dividend Yield 10.31%

	total	individual payouts
2027	Powerpack
2026	0.81	0.17 0.22 0.27
2025	0.36	0.06 0.07 0.10 0.13
2024	0.40	0.12 0.12 0.12 0.04
2023	0.49	0.15 0.15 0.13 0.06
2022	0.11	0.01 0.02 0.03 0.05
2021	0.07	0.02 0.02 0.01 0.01 0.01
2020	0.45	0.07 0.14 0.20 0.04
2019	0.10	0.04 0.03 0.01 0.02
2018	0.16	0.03 0.01 0.02 0.10
2017	0.53	0.20 0.20 0.10 0.03
2016	1.36	0.43 0.43 0.25 0.26

predictions special payouts not included in total or ratios

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%)

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.

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	7.51	2.45	1.82	1.66	2.30	1.65	1.40	2.83	2.41	2.13	Analyst estimates 2026–2028 Powerpack
	High	16.05	9.32	3.47	5.17	9.00	4.05	3.94	4.83	4.64	3.93
People
People	Employees	19	21	20	20	20	19	18	17	15	18
	Revenue/emp, $m	18.81	14.15	14.45	15.86	17.73	10.30	18.85	23.04	23.32	16.25
Income, $m
Income, $m	Revenue	357	297	289	317	355	196	339	392	350	292
	Gross margin, %	42.30	22.55	15.08	34.49	46.99	(0.09)	31.06	51.62	46.40	39.53
	EBT	42	(196)	(88)	(10)	50	(171)	15	99	47	12
	EBT margin, %	11.83	(66.11)	(30.30)	(3.24)	14.13	(87.49)	4.46	25.23	13.33	4.21
	Net income	(4)	(205)	(95)	(10)	50	(171)	15	99	47	12
	Depreciation	92	102	76	68	72	71	54	53	57	58
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
	Earnings	(0.05)	(1.97)	(0.67)	(0.07)	0.34	(1.05)	0.07	0.47	0.22	0.06
	Cash flow	1.38	0.31	(0.11)	0.37	0.74	(0.27)	0.12	0.67	0.61	0.09
	Capex	(1.50)	(0.36)	0.60	(0.02)	(0.12)	(0.02)	(0.07)	(0.35)	(0.01)	(0.41)
	Free cash flow	(0.11)	(0.06)	0.48	0.35	0.62	(0.29)	0.05	0.32	0.60	(0.32)
	Book value	9.41	6.85	4.24	4.18	4.01	3.07	2.67	2.58	2.43	2.10
	Shares, m	93	104	142	143	149	163	202	209	209	212
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	8.68	0.00	49.67	9.13	11.59	52.12
	P/S	2.20	0.84	0.98	2.21	1.15	1.40	1.77	2.29	1.50	2.49
	P/B	0.90	0.30	0.47	1.18	0.74	0.55	1.12	1.66	1.03	1.64
	EV/Sales	3.21	2.14	2.32	3.27	1.92	2.81	2.49	2.97	2.14	3.78
	EV/FCF	(108.36)	(23.30)	9.78	20.62	7.92	(11.50)	86.28	17.70	5.96	(16.30)
Cash, $m
Cash, $m	Operating cash flow	128	32	(16)	53	111	(44)	24	139	128	20
	Capex	(138)	(38)	85	(3)	(18)	(3)	(14)	(74)	(3)	(88)
	Free cash flow	(11)	(6)	69	50	93	(48)	10	66	126	(68)
Balance, $m
Balance, $m	Working capital	142	102	77	70	60	39	70	38	39	83
	Total debt	443	389	437	399	357	321	306	302	270	424
	Net debt	361	330	387	336	295	276	243	268	225	378
	Shareholders’ equity	871	711	602	595	599	498	540	538	509	446
Returns, %
Returns, %	ROA	(0.34)	(16.46)	(8.62)	(0.98)	4.99	(18.77)	1.74	11.22	5.50	1.43
	ROIC	2.71	(10.54)	(2.44)	2.14	5.68	(11.66)	2.86	9.91	6.58	3.52
	ROE	(0.51)	(25.91)	(14.52)	(1.73)	8.38	(31.23)	2.91	18.31	8.91	2.57

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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	$1.9B	— (loss-making)	18.6×	+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.	$1.7B	74.9×	261×	+40.98% (above 0%: growing)	n/m	+2,417.50% (above 0%: growing)	32.06%	19.82%	Compare
GLP Global Partners LP	$1.7B	10.1×	10.4×	+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	$1.7B	13.0×	8.6×	+133.96% (above 0%: growing)	n/m	+197.49% (above 0%: growing)	83.25%	82.06%
PBT Permian Basin Royalty Trust	$1.6B	94.7×	21.9×	+34.59% (above 0%: growing)	+60.00% (above 0%: growing)	—	100.00%	92.68%	Compare
FLNG Flex LNG Ltd.	$1.5B	14.8×	14.3×	+24.21% (above 0%: growing)	+151.52% (above 0%: growing)	+185.57% (above 0%: growing)	76.00%	55.68%	Compare
TEN Tsakos Energy Navigation Ltd	$1.5B	5.2×	8.0×	+54.37% (above 0%: growing)	+556.72% (above 0%: growing)	+185.92% (above 0%: growing)	62.31%	54.53%	Compare
NVGS Navigator Holdings Ltd.	$1.3B	9.7×	7.8×	+29.55% (above 0%: growing)	+177.42% (above 0%: growing)	+9.98% (above 0%: growing)	55.10%	28.48%	Compare
TK Teekay Corporation Ltd.	$1.2B	9.6×	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	$1.5B	10.1×	16.5×	+37.79%	+177.42%	+185.57%	43.58%	27.95%

All 58 Oil & Gas Midstream stocks →

Nordic American Tankers Limited (NAT) key facts

Concern: Nordic American Tankers Limited’s revenue for fiscal 2025 (year ended December 2025) was $292.4 million, down 16.4% from fiscal 2024.
Nordic American Tankers Limited (NAT) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
As of October 16, 2026, NAT traded at $7.66, a market capitalization of $1.7 billion.
Nordic American Tankers Limited pays an annual dividend of $0.79 per share, a yield of 10.3%, with a payout ratio of 133.9%.
Return on equity was 2.57% and debt-to-equity 0.85.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 1.56 (distress zone) for fiscal 2025.