MARKETS / NYSE / NAT

NYSE · WATER TRANSPORTATION · LARGE CAP

Nordic American Tankers Ltd. NAT

18 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$291.7M

▼ 16.6% YoY

Net income

$12.3M

▼ 73.7% YoY

In brief

What this company does

Nordic American Tankers Limited operates as an international tanker company that owns, operates and charters Suezmax tankers. As of December 31, 2025, its fleet consisted of 20 Suezmax crude oil tankers, of which the vast majority have been built in South Korea. All tankers in its fleet are Suezmax vessels, which have a carrying capacity of one million barrels of oil. It maintains its principal office and registered office at Par La Ville Place, 14 Par La Ville Street, Hamilton HM 08, Bermuda. The majority of its vessels are employed in the spot market. The technical management of its vessels is handled by companies under direct instructions from NAT, with the ship management firms V.Ships Norway AS, Columbia Shipmanagement Ltd and Hellespont Ship Management GmbH & Co KG providing the technical management services. Nordic American Tankers Limited was formed on June 12, 1995, and organized under the laws of the Islands of Bermuda as an exempted company limited by shares pursuant to the Companies Act.

Written from the business description in NORDIC AMERICAN TANKERS Ltd's annual report to the U.S. Securities and Exchange Commission, filed 29 April 2026. Every sentence was checked against that document before publication.

Growth

USD 291.7M

Revenue, FY2025 · full 18-year series below

Revenue $M Net income $M

FY2025 · Revenue 291.7 · Net income 12.3

Compound annual growth

Revenue

−4.9%

−3.8%

Net income

−6.7%

−24.5%

−20.0%

EPS, diluted

−5.0%

−29.3%

−26.4%

Dividend / share

−12.6%

Returned to shareholders

+55.1%

+4.7%

−3.7%

+0.4%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at −3.8% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

4 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 15.9% · Net 4.2%

ROE

FY2025 · ROE 2.6%

Gross margin62.3%

Operating margin15.9%

Net margin4.2%

Return on assets1.4%

EBITDAUSD 104.1M

Each USD of equity produced 3 cents of profit this year.

Cash & shareholders

USD 84.7M

returned in FY2025 · dividends + net buybacks

Net buybacks $M Dividends $M

FY2025 · Dividends 84.7 · Net buybacks —

Dividends paidUSD 84.7M

Net buybacks—

Share of profit690.2%

Consecutive raises—

USD 84.7M in dividends — 690% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 902.2M

EquityUSD 445.5M

CashUSD 45.9M

Gross debtUSD 424.1M

Net debtUSD 378.3M

Current ratio2.24×

Net debt stands at 85% of equity.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	0.3	0.3	0.4	0.3	0.2	0.4	0.3	0.3	0.3	0.4	0.0	0.0	0.0	0.0	·	·	·	·
Operating income $B	0.0	0.1	0.1	0.0	−0.1	0.1	0.0	−0.0	−0.2	0.1	0.1	−0.0	−0.1	−0.1	−0.1	0.0	0.0	0.1
EBITDA $B	0.1	0.1	0.2	0.1	−0.1	0.1	0.1	0.0	−0.1	0.1	0.2	0.1	−0.0	0.0	−0.0	0.1	0.1	0.2
Income tax $B	0.0	−0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	·	·	·
Net income $B	0.0	0.0	0.1	0.0	−0.2	0.1	−0.0	−0.1	−0.2	−0.0	0.1	−0.0	−0.1	−0.1	−0.1	−0.0	0.0	0.1
EPS, diluted $	0.06	0.22	0.47	0.07	−1.05	0.34	−0.07	−0.67	−1.97	−0.05	1.29	−0.15	−1.64	−1.39	−1.53	−0.02	0.03	3.62
Dividend / sh $	0.36	0.40	·	·	·	·	0.10	0.07	0.53	1.37	1.38	0.61	0.64	1.20	1.15	0.00	2.35	4.89
Payout %	690	188	91	150	−6	134	−138	−10	−26	−2820	107	−411	−40	−87	−75	−9855	9430	140
ROE %	2.6	8.9	18.3	2.9	−31.2	8.4	−1.7	−14.5	−25.9	−0.5	13.0	−1.5	−12.7	−8.7	−7.8	−0.1	0.1	15.1
Shares out B	0.21	0.21	0.21	0.21	0.18	0.15	0.15	0.14	0.14	0.10	0.09	0.09	0.08	0.05	0.05	0.05	0.04	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 70 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 11 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityWater Transportation

Listed onNYSE

Incorporated innot stated in the filings

Fiscal year endsDecember 31

Data on record since2008