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Stocks · Industrials · Water Transportation

NORDIC AMERICAN TANKERS Ltd

NAT Clue Score42
Bermuda Fiscal year ends December CIK 0001000177
$8.47 -1.28% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $8.47 +236.11% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue357.5Operating income53.3Net income−4.5EPS, diluted−0.05Fiscal year 2017Revenue297.1 −16.9%Operating income−175.7Net income−205.0EPS, diluted−1.97Fiscal year 2018Revenue289.0 −2.7%Operating income−38.6Net income−95.3EPS, diluted−0.67Fiscal year 2019Revenue317.2 +9.8%Operating income32.0Net income−10.4EPS, diluted−0.07Fiscal year 2020Revenue354.6 +11.8%Operating income81.2Net income50.0EPS, diluted0.34Fiscal year 2021Revenue191.1 −46.1%Operating income−144.5Net income−171.3 −442.4%EPS, diluted−1.05 −408.8%Fiscal year 2022Revenue339.3 +77.6%Operating income41.9Net income15.1EPS, diluted0.07Fiscal year 2023Revenue391.7 +15.4%Operating income127.9Net income98.7 +553.7%EPS, diluted0.47 +571.4%Fiscal year 2024Revenue349.7 −10.7%Operating income77.3Net income46.6 −52.7%EPS, diluted0.22 −53.2%Fiscal year 2025Revenue291.7 −16.6%Operating income46.3Net income12.3 −73.7%EPS, diluted0.06 −72.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 357.5 297.1 289.0 317.2 354.6 191.1 339.3 391.7 349.7 291.7
Growth −16.9% −2.7% +9.8% +11.8% −46.1% +77.6% +15.4% −10.7% −16.6%
Operating income 53.3 −175.7 −38.6 32.0 81.2 −144.5 41.9 127.9 77.3 46.3
Net income −4.5 −205.0 −95.3 −10.4 50.0 −171.3 15.1 98.7 46.6 12.3
Growth −442.4% +553.7% −52.7% −73.7%
EPS, diluted −0.05 −1.97 −0.67 −0.07 0.34 −1.05 0.07 0.47 0.22 0.06
Growth −408.8% +571.4% −53.2% −72.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin14.9%Net margin−1.2%Fiscal year 2017Operating margin−59.1%Net margin−69.0%Fiscal year 2018Operating margin−13.4%Net margin−33.0%Fiscal year 2019Operating margin10.1%Net margin−3.3%Fiscal year 2020Operating margin22.9%Net margin14.1%Fiscal year 2021Operating margin−75.6%Net margin−89.7%Fiscal year 2022Operating margin12.3%Net margin4.5%Fiscal year 2023Operating margin32.7%Net margin25.2%Fiscal year 2024Operating margin22.1%Net margin13.3%Fiscal year 2025Operating margin15.9%Net margin4.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 14.9% −59.1% −13.4% 10.1% 22.9% −75.6% 12.3% 32.7% 22.1% 15.9%
Net margin −1.2% −69.0% −33.0% −3.3% 14.1% −89.7% 4.5% 25.2% 13.3% 4.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow127.8Dividends paid−125.7Fiscal year 2017Operating cash flow31.7Dividends paid−54.2Fiscal year 2018Operating cash flow−16.1Dividends paid−9.9Fiscal year 2019Operating cash flow52.9Dividends paid−14.3Fiscal year 2020Operating cash flow110.9Dividends paid−67.2Fiscal year 2021Operating cash flow−44.5Dividends paid−9.7Fiscal year 2022Operating cash flow24.1Dividends paid−22.7Fiscal year 2023Operating cash flow139.4Dividends paid−89.8Fiscal year 2024Operating cash flow128.2Dividends paid−87.7Fiscal year 2025Operating cash flow19.8Dividends paid−84.7
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 127.8 31.7 −16.1 52.9 110.9 −44.5 24.1 139.4 128.2 19.8
Dividends paid −125.7 −54.2 −9.9 −14.3 −67.2 −9.7 −22.7 −89.8 −87.7 −84.7

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash82.2Total debt442.8Net cash (debt)−360.7Shareholders’ equity871.0Debt to equity0.51Fiscal year 2017Cash58.4Total debt388.9Net cash (debt)−330.5Shareholders’ equity711.1Debt to equity0.55Fiscal year 2018Cash49.3Total debt436.5Net cash (debt)−387.2Shareholders’ equity602.0Debt to equity0.73Fiscal year 2019Cash48.8Total debt398.9Net cash (debt)−350.1Shareholders’ equity595.4Debt to equity0.67Fiscal year 2020Cash57.8Total debt356.7Net cash (debt)−298.9Shareholders’ equity599.1Debt to equity0.60Fiscal year 2021Cash34.7Total debt321.0Net cash (debt)−286.2Shareholders’ equity498.2Debt to equity0.64Fiscal year 2022Cash59.6Total debt306.0Net cash (debt)−246.5Shareholders’ equity540.0Debt to equity0.57Fiscal year 2023Cash31.1Total debt301.6Net cash (debt)−270.5Shareholders’ equity538.3Debt to equity0.56Fiscal year 2024Cash39.2Total debt269.7Net cash (debt)−230.5Shareholders’ equity508.8Debt to equity0.53Fiscal year 2025Cash45.9Total debt424.1Net cash (debt)−378.3Shareholders’ equity445.5Debt to equity0.95
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 82.2 58.4 49.3 48.8 57.8 34.7 59.6 31.1 39.2 45.9
Total debt 442.8 388.9 436.5 398.9 356.7 321.0 306.0 301.6 269.7 424.1
Net cash (debt) −360.7 −330.5 −387.2 −350.1 −298.9 −286.2 −246.5 −270.5 −230.5 −378.3
Shareholders’ equity 871.0 711.1 602.0 595.4 599.1 498.2 540.0 538.3 508.8 445.5
Debt to equity 0.51 0.55 0.73 0.67 0.60 0.64 0.57 0.56 0.53 0.95

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
357.5 297.1 289.0 317.2 354.6 191.1 339.3 391.7 349.7 291.7
Growth −16.9% −2.7% +9.8% +11.8% −46.1% +77.6% +15.4% −10.7% −16.6%
126.0 142.5 165.0 141.8 121.1 128.3 170.5 129.5 124.6 109.9
12.3 12.6 12.7 13.5 17.6 15.6 18.8 22.9 28.8 28.1
53.3 −175.7 −38.6 32.0 81.2 −144.5 41.9 127.9 77.3 46.3
Growth −429.4% +154.1% −277.9% +205.5% −39.5% −40.1%
42.3 −196.5 −87.6 −10.3 50.1 −171.3 15.1 98.8 46.6 12.3
0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.1 −0.0 0.0
−4.5 −205.0 −95.3 −10.4 50.0 −171.3 15.1 98.7 46.6 12.3
Growth −442.4% +553.7% −52.7% −73.7%
Per share
−0.05 −1.97 −0.67 −0.07 0.34 −1.05 0.07 0.47 0.22 0.06
−0.05 −1.97 −0.67 −0.07 0.34 −1.05 0.07 0.47 0.22 0.06
Growth −408.8% +571.4% −53.2% −72.7%
92.5 103.8 142.0 142.6 149.3 162.5 202.0 208.8 209.2 211.8
92.5 103.8 142.0 142.6 149.3 162.5 202.0 208.8 209.9 211.8
Growth +12.2% +36.7% +0.4% +4.7% +8.9% +24.3% +3.4% +0.5% +0.9%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 3.8% a year over five years, and earnings per share fell 29.3% a year.
  • The diluted share count rose 41.8% in five years, which is dilution.
  • Operating margin is down 7.0 points on five years ago, at 15.9%.
  • A net loss in 5 of 10 years on file.