Nordic American Tankers Limited NAT R2K

Energy · Oil & Gas Midstream · Bermuda

https://www.nat.bm

Nordic American Tankers Limited, a tanker company, owns, operates, and charters double-hull tankers in Bermuda and internationally. As of December 31, 2025, the company fleet consisted of 20 Suezmax crude oil tankers. It serves oil companies, oil traders, and other entities requiring crude oil transportation services. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to American Tankers Limited in June, 2011. The company was incorporated in 1995 and is based in Hamilton, Bermuda.

Market & Price

Market Cap

$1.09B

Current Price

$5.15

High / Low (52W)

$6.18 / $2.50

Beta

-0.52

Valuation

Stock P/E

85.83

Industry PE

18.25

Forward P/E

16.09

PEG Ratio

1.21

Book Value

$2.10

Price to Book

2.45

P/S

3.27

EV/EBITDA

11.22

Dividend Yield

17.09%

Profitability & Returns

ROCE

5.67%

ROE

11.36%

ROA

4.84%

Profit Margin

16.27%

Op Margin

50.64%

EPS (Latest Qtr)

$0.06

EPS (TTM)

$0.06

Balance Sheet & Liquidity

Debt/Equity

0.91

Quick Ratio

1.60

Current Ratio

3.00

Debt

$415.39M

Total Assets

$902.16M

Current Assets

$150.87M

Working Capital

$83.45M

Ownership

Promoter Holding

5.29%

Chg in Prom Hold

FII / Inst Holding

49.94%

Chg in FII Hold

0.00%

Financial Snapshot

Enterprise Value

$1.42B

Total Revenue (TTM)

$333.79M

EBITDA

$127.03M

Free Cash Flow

$-98.51M

Operating Cash Flow

$50.41M

Shares Outstanding

211.75M

Gross Margin

47.22%

Payout Ratio

600.00%

Growth (CAGR)

Revenue 5Y

-4.92%

Profit 5Y

-6.68%

Revenue (YoY)

109.00%

Earnings (YoY)

990.30%

PROS

Attractive dividend yield of 17.09%.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Trading at a high P/E of 85.8.
Revenue declined at -4.9% CAGR over 5 years.
Earnings shrank at -6.7% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Energy).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	NAT Nordic American Tankers Limited R2K	5.15	85.83	$1.09B	17.09%	5.67%	11.36%	-4.92%	-6.68%
2	XOM Exxon Mobil Corporation SPX	145.26	24.45	$602.10B	2.84%	11.12%	9.87%	-6.69%	-19.72%
3	CVX Chevron Corporation SPX	182.46	31.73	$363.39B	3.90%	7.21%	6.64%	-7.85%	-29.74%
4	COP ConocoPhillips SPX	113.98	19.32	$138.86B	2.95%	12.63%	11.28%	-9.11%	-24.66%
5	WMB The Williams Companies, Inc. SPX	71.39	31.31	$87.31B	2.94%	9.66%	19.66%	2.91%	8.51%
6	SLB SLB N.V. SPX	54.55	24.03	$81.56B	2.16%	12.08%	14.07%	8.33%	-0.65%
7	VLO Valero Energy Corporation SPX	244.82	17.88	$72.70B	1.96%	8.12%	15.85%	-11.40%	-41.16%
8	MPC Marathon Petroleum Corporation SPX	248.77	16.37	$72.63B	1.57%	13.11%	27.46%	-9.23%	-34.67%
9	EOG EOG Resources, Inc. SPX	133.38	13.13	$71.04B	3.06%	14.00%	18.20%	-8.51%	-13.74%

Quarterly Results

Figures in USD.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	-	171.03M	37.95M	40.15M	45.69M	167.91M
Cost of Revenue	-	153.22M	29.75M	33.34M	31.87M	139.59M
Gross Profit	-	17.81M	8.20M	6.81M	13.82M	28.31M
Operating Expenses	-	9.06M	6.85M	6.38M	7.04M	7.15M
Operating Income	-	8.75M	1.35M	434.00K	6.78M	21.16M
EBITDA	-	7.53M	11.61M	8.39M	7.04M	20.30M
Interest Expense	-	6.25M	7.36M	9.24M	9.82M	8.59M
Pretax Income	-	1.28M	4.25M	-852.00K	-2.78M	11.71M
Tax Provision	-	-	-	-	-	-
Net Income	-	1.29M	4.25M	-852.00K	-2.78M	11.66M
Diluted EPS	-	0.01	0.02	0.00	-0.01	0.06

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	339.34M	391.69M	349.74M	291.69M
Cost of Revenue	-	284.37M	240.91M	243.61M	234.55M
Gross Profit	-	54.97M	150.78M	106.14M	57.14M
Operating Expenses	-	18.80M	22.89M	28.82M	27.41M
Operating Income	-	36.18M	127.89M	77.31M	29.72M
EBITDA	-	89.00M	179.27M	132.67M	105.06M
Interest Expense	-	23.45M	29.04M	29.89M	35.01M
Pretax Income	-	15.12M	98.83M	46.63M	12.32M
Tax Provision	-	23.00K	120.00K	-10.00K	48.00K
Net Income	-	15.10M	98.71M	46.64M	12.27M
Diluted EPS	-0.73	0.07	0.47	0.22	-

Compounded Sales Growth

5 Years:	-4.92%
1 Year:	109.00%

Compounded Profit Growth

5 Years:	-6.68%
1 Year:	990.30%

Stock Price Performance

1 Year:	+105.62%
6 Months:	+41.23%
3 Months:	-7.32%
1 Month:	-6.87%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	879.88M	879.20M	817.59M	902.16M
Current Assets	-	142.66M	108.91M	98.77M	150.87M
Cash & Equivalents	-	59.58M	31.08M	39.18M	45.86M
Inventory	-	25.43M	31.18M	21.93M	19.93M
Receivables	-	20.47M	26.29M	16.22M	19.04M
Total Liabilities	-	339.90M	340.89M	308.77M	456.64M
Current Liabilities	-	72.41M	70.48M	59.78M	67.42M
Long Term Debt	-	266.34M	269.70M	248.14M	388.74M
Total Debt	-	306.57M	301.60M	269.70M	424.14M
Total Equity	-	539.98M	538.33M	508.81M	445.52M
Shares Outstanding	-	208.80M	208.80M	211.75M	211.75M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-	24.13M	139.44M	128.16M	19.82M
Investing Cash Flow	-	-14.34M	-73.67M	-2.62M	-87.70M
Financing Cash Flow	-	9.01M	-95.67M	-115.05M	68.99M
Capital Expenditure	-	-95.42M	-73.67M	-2.62M	-134.45M
Free Cash Flow	-	-71.28M	65.78M	125.54M	-114.63M
Net Change in Cash	-	18.80M	-29.90M	10.49M	1.12M

Ratios (Annual)

Figures in %.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	16.2%	38.5%	30.3%	19.6%
Operating Margin %	-	10.7%	32.7%	22.1%	10.2%
Net Margin %	-	4.5%	25.2%	13.3%	4.2%
ROE %	-	2.8%	18.3%	9.2%	2.8%
ROCE %	-	4.5%	15.8%	10.2%	3.6%

Shareholding Pattern

Insiders

5.29%

Institutions

49.94%

Public Float

52.73%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Dimensional Fund Advisors LP	5.76%	12.19M	$62.78M
2	Blackrock Inc.	5.68%	12.02M	$61.89M
3	Ameriprise Financial, Inc.	3.90%	8.26M	$42.55M
4	Morgan Stanley	2.92%	6.18M	$31.83M
5	Castleknight Management LP	2.49%	5.26M	$27.11M
6	Nuveen, LLC	2.35%	4.98M	$25.66M
7	Goldman Sachs Group Inc	2.16%	4.58M	$23.56M
8	Mirae Asset Global ETFs Holdings Ltd.	2.16%	4.58M	$23.58M
9	State Street Corporation	2.01%	4.26M	$21.95M
10	American Century Companies Inc	1.91%	4.05M	$20.85M

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NAT · Energy