NAT
$7.79-1.52%
Nordic American Tankers LimitedStock · EnergyRussell 2000 · 0.04% of IWMRussell 3000 · 0.001% of IWV
NAT financial statements
The full income statement, balance sheet, and cash-flow statement for Nordic American Tankers Limited (NAT), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2017-12 142.0M2018-12 142.0M2019-12 147.2M2020-12 151.4M2021-12 183.7M2022-12 208.8M2023-12 208.8M2024-12 211.8M2025-12 211.8M+49.2% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 292M-16.6% | 350M-10.7% | 392M+15.4% | 339M+77.6% | 191M-46.1% | |
| Cost of revenue | 110M-11.8% | 125M-3.8% | 130M-24.0% | 171M+32.9% | 128M+5.9% | |
| Selling, general & administrative | 28.1M-2.4% | 28.8M+25.9% | 22.9M+21.8% | 18.8M+20.3% | 15.6M-11.2% | |
| General & administrative | 28.1M-2.4% | 28.8M+25.9% | 22.9M+21.8% | 18.8M+20.3% | 15.6M-11.2% | |
| Provision for credit losses | 406M+208157.9% | 195K+121.6% | 88.0K-32.3% | 130K+73.3% | 75.0K-99.7% | |
| Operating income | 46.3M-40.1% | 77.3M-39.5% | 128M+205.5% | 41.9M+129.0% | -144M-277.9% | |
| Interest expense | 35.8M+16.3% | 30.7M+0.8% | 30.5M+12.7% | 27.1M+2.6% | 26.4M-16.2% | |
| Interest & investment income | 1.61M+120.0% | 731K-43.9% | 1.30M+389.5% | 266K+8766.7% | 3.00K-96.9% | |
| Other non-operating income | 118K+117.6% | -670K-589.1% | 137K+197.8% | 46.0K+110.7% | -429K-268.2% | |
| Pre-tax income | 12.3M-73.6% | 46.6M-52.8% | 98.8M+553.5% | 15.1M+108.8% | -171M-441.9% | |
| Income tax | 48.0K+580.0% | -10.0K-108.3% | 120K+421.7% | 23.0K-61.0% | 59.0K-7.8% | |
| Net income | 12.3M-73.7% | 46.6M-52.7% | 98.7M+553.7% | 15.1M+108.8% | -171M-442.4% | |
| $0.06-72.7% | $0.22-53.2% | $0.47+571.4% | $0.07+106.7% | -$1.05-408.8% | ||
| EPS (basic) | $0.06-72.7% | $0.22-53.2% | $0.47+571.4% | $0.07+106.7% | -$1.05-408.8% | |
| Weighted-avg shares (basic) | 212M+1.2% | 209M+0.2% | 209M+3.3% | 202M+24.3% | 163M+8.9% | |
| Weighted-avg shares (diluted) | 212M+0.9% | 210M+0.5% | 209M+3.4% | 202M+24.3% | 163M+8.9% | |
| Dividends per share | $0.36-10.0% | $0.40-7.0% | $0.43+295.8% | $0.11+105.7% | $0.05-88.1% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 151M+52.7% | 98.8M-9.3% | 109M-23.7% | 143M+33.2% | 107M+7.6% | ||
| Cash & equivalents | 45.9M+17.1% | 39.2M+26.1% | 31.1M-47.8% | 59.6M+71.5% | 34.7M-39.9% | |
| Accounts receivable | 19.0M+17.4% | 16.2M-38.3% | 26.3M+28.5% | 20.5M+118.4% | 9.37M | |
| Prepaid expenses | 8.40M+34.9% | 6.23M+44.2% | 4.32M-27.7% | 5.97M+23.3% | 4.85M-11.5% | |
| Other current assets | 4.05M+18.0% | 3.44M+33.1% | 2.58M-25.9% | 3.48M+81.6% | 1.92M+21.9% | |
| 902M+10.3% | 818M-7.0% | 879M-0.1% | 880M+3.4% | 851M-12.6% | ||
| Property, plant & equipment | — | 749K-22.7% | 969K+32.7% | 730K-3.4% | 756K+212.4% | |
| Operating lease right-of-use | 738K-24.3% | 975K+68.7% | 578K-52.2% | 1.21M-34.9% | 1.86M+52.3% | |
| Other non-current assets | 2.35M-8.5% | 2.57M+128.5% | 1.12M+28.0% | 878K-66.9% | 2.65M+110.0% | |
| Total non-current assets | 751M+4.5% | 719M-6.7% | 770M+4.5% | 737M-0.9% | 744M-14.9% | |
| 67.4M+12.8% | 59.8M-15.2% | 70.5M-2.7% | 72.4M+7.1% | 67.6M+70.5% | ||
| Accounts payable | 2.53M-40.6% | 4.26M+23.5% | 3.45M-50.5% | 6.96M+6.2% | 6.55M+59.8% | |
| Accrued liabilities | 628K+4.8% | 599K-7.0% | 644K | — | — | |
| Deferred revenue | 3.84M-31.9% | 5.63M+44.4% | 3.90M-36.5% | 6.15M+122.9% | 2.76M+1869.3% | |
| Short-term & current debt | 35.4M+64.2% | 21.6M-32.4% | 31.9M-19.7% | 39.7M+5.7% | 37.5M+69.9% | |
| Other current liabilities | 10.4M+37.5% | 7.57M+9.6% | 6.91M-52.2% | 14.4M+68.7% | 8.56M+4.0% | |
| Long-term debt | 389M+56.7% | 248M-8.0% | 270M+1.3% | 266M-6.0% | 283M-15.3% | |
| Non-current lease liability | — | — | 0.00-100.0% | 535K-53.4% | 1.15M+57.4% | |
| Other non-current liabilities | 483K-42.8% | 845K+17.9% | 717K+16.6% | 615K-15.1% | 724K | |
| Total non-current liabilities | 389M+56.3% | 249M-7.9% | 270M+1.1% | 267M-6.2% | 285M-15.0% | |
| 446M-12.4% | 509M-5.5% | 538M-0.3% | 540M+8.4% | 498M-16.8% | ||
| Common stock | 2.12M+0.0% | 2.12M+1.4% | 2.09M+0.0% | 2.09M+13.7% | 1.84M+21.3% | |
| Additional paid-in capital | 198M+0.0% | 198M+3.8% | 191M+1.2% | 189M+35.4% | 139M+134.8% | |
| Retained earnings | 1.40M+112.9% | -10.9M+81.1% | -57.5M+63.2% | -156M+8.8% | -171M | |
| Accumulated other comprehensive income | -1.16M+36.6% | -1.82M+13.0% | -2.09M-15.5% | -1.81M-14.7% | -1.58M-20.1% | |
| Total liabilities & equity | 902M+10.3% | 818M-7.0% | 879M-0.1% | 880M+3.4% | 851M-12.6% | |
| Common shares issued | 212M+0.0% | 212M+1.4% | 209M+0.0% | 209M+13.7% | 184M+21.3% | |
| Common shares outstanding | 212M+0.0% | 212M+1.4% | 209M+0.0% | 209M+13.7% | 184M+21.3% | |
| Shares outstanding (cover) | 212M+0.0% | 212M+1.4% | 209M+0.0% | 209M+13.7% | 184M+21.3% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 19.8M-84.5% | 128M-8.1% | 139M+477.8% | 24.1M+154.3% | -44.5M-140.1% | ||
| Depreciation & amortization | 57.7M+2.8% | 56.2M+9.2% | 51.4M+1.9% | 50.4M-26.2% | 68.4M+0.8% | |
| Share-based compensation | 0.00-100.0% | 1.85M-16.2% | 2.20M+362.8% | 476K+40.4% | 339K+18.9% | |
| Change in receivables | 2.88M+128.6% | -10.1M-273.1% | 5.81M-47.6% | 11.1M+266.9% | 3.02M+116.7% | |
| Change in inventory | -2.00M+78.4% | -9.25M-260.8% | 5.75M+26.2% | 4.56M+211.1% | 1.47M+147.8% | |
| -87.7M-3247.3% | -2.62M+96.4% | -73.7M-413.6% | -14.3M-313.9% | -3.46M+80.2% | ||
| Capital expenditure | 134M+15354.0% | 870K-98.8% | 73.5M+1337.2% | 5.12M+32.3% | 3.87M-43.5% | |
| Free cash flow | -115M-190.1% | 127M+93.1% | 65.9M+246.6% | 19.0M+139.4% | -48.3M-146.4% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Proceeds from sale of PP&E | — | — | — | — | 14.3M | |
| 69.0M+160.0% | -115M-20.3% | -95.7M-1162.4% | 9.01M-70.5% | 30.5M+132.8% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00-100.0% | 8.93M | 0.00-100.0% | 49.1M-38.7% | 80.1M+286.5% | |
| Common stock repurchased | 0.00-100.0% | 3.55M | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 84.7M-3.4% | 87.7M-2.3% | 89.8M+295.8% | 22.7M+133.8% | 9.70M-85.6% | |
| FX effect on cash | 361K-32.6% | 536K+1318.2% | -44.0K+69.0% | -142K-1083.3% | -12.0K-130.8% | |
| Net change in cash | — | — | — | 18.8M+208.0% | -17.4M-4530.0% | |
| Interest paid | 35.0M+17.1% | 29.9M+2.9% | 29.0M+23.8% | 23.5M+0.3% | 23.4M-13.8% | |
| Income taxes paid | 33.0K+230.0% | 10.0K-56.5% | 23.0K-61.0% | 59.0K-7.8% | 64.0K-9.9% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 728M+37.6% | 529M-39.6% | 877M+56.0% | 562M+81.1% | 310M-30.5% | |
| P/E | 59.4×+423.0% | 11.3×-80.5% | 58.1× | — | — | |
| P/S | 2.5×+65.0% | 1.5×-41.4% | 2.6×-12.2% | 2.9×+81.1% | 1.6×+29.0% | |
| P/B | 1.6×+57.1% | 1.0×-35.9% | 1.6×+43.9% | 1.1×+81.1% | 0.6×-16.4% | |
| P/FCF | — | 4.2×-91.0% | 46.1× | — | — | |
| Earnings yield | 1.7%-80.9% | 8.8%+411.7% | 1.7% | — | — | |
| FCF yield | — | 24.0%+1008.7% | 2.2% | — | — | |
| Dividend yield | 10.5%-34.6% | 16.0%+56.3% | 10.2%+188.4% | 3.6%+13.6% | 3.1%-79.2% | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: NAT’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all NAT filings on SEC EDGAR → Not investment advice.