ES
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 · FY2025
$291.7M
▼ 16.6% vs FY2024
EPS · FY25
$0.06
Dividend / sh · FY25
$0.36
Payout · FY25
690%
ROE · FY25
2.6%
Net margin · FY25
4.2%
Dividend coverage
0.2×
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Result
USD 291.7M
Revenue, FY2025 · full 18-year series below
Revenue Net income
0.10.20.30.40.30.02008201120142017202020232025
0.10.20.30.40.30.02016201920222025

4 cents of every revenue dollar became profit this year.

Per share
USD 0.06
Diluted EPS, FY2025
EPS Dividend
2460.360.062008201120142017202020232025
2460.360.062016201920222025

Earnings covered only a fraction of the dividend — the rest came from cash or borrowing.

Profitability
2.6%
Return on equity, FY2025
ROE
51015202.6%2008201120142017202020232025
51015202.6%2016201920222025
Operating margin15.9%
Net margin4.2%
Return on assets1.4%

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

Returned to shareholders
USD 84.7M
returned in FY2025 · dividends + 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.

Growth
−3.8% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
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%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.21B
Shares outstanding, FY2025
0.040.212008201120142017202020232025
0.100.212016201920222025
Change, 5 years+39.8%
Change, 10 years+137.4%

The share count grew 40% in five years — the same company, cut into more, smaller slices.

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Balance sheet
USD 902.2M
total assets, end of FY2025
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.

History
18 fiscal years
Every figure from documents filed with the SEC · USD
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 figures not disclosed in the filing for that year.

How we verifyAUDITED
52 of 52
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed