NAT
Nordic American Tankers Limited
NYSE: NAT · ENERGY · OIL & GAS MIDSTREAM
$5.53
-1.60% today
Updated 2026-04-29
Market cap
$1.17B
P/E ratio
92.17
P/S ratio
6.39x
EPS (TTM)
$0.06
Dividend yield
8.50%
52W range
$2 – $6
Volume
5.6M
Nordic American Tankers Limited (NAT) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $175.52M | $186.99M | $228.00M | $124.37M | $126.42M | $94.79M | $130.68M | $243.66M | $351.05M | $445.74M | $357.45M | $297.14M | $289.02M | $317.22M | $354.62M | $195.76M | $339.34M | $391.69M | $349.74M | $292.42M |
| Revenue growth (YoY) | — | +6.5% | +21.9% | -45.5% | +1.6% | -25.0% | +37.9% | +86.5% | +44.1% | +27.0% | -19.8% | -16.9% | -2.7% | +9.8% | +11.8% | -44.8% | +73.3% | +15.4% | -10.7% | -16.4% |
| Cost of revenue | $90.53M | $121.61M | $93.93M | $107.13M | $109.66M | $134.41M | $171.85M | $312.71M | $342.46M | $307.86M | $297.14M | $330.80M | $306.12M | $271.77M | $255.81M | $264.29M | $284.37M | $240.91M | $243.61M | $234.55M |
| Gross profit | $84.99M | $65.38M | $134.07M | $17.24M | $16.76M | $-39.62M | $-41.17M | $-69.05M | $8.59M | $137.88M | $60.31M | $-33.66M | $-17.10M | $45.45M | $98.81M | $-68.53M | $54.97M | $150.78M | $106.14M | $57.87M |
| Gross margin | 48.4% | 35.0% | 58.8% | 13.9% | 13.3% | -41.8% | -31.5% | -28.3% | 2.4% | 30.9% | 16.9% | -11.3% | -5.9% | 14.3% | 27.9% | -35.0% | 16.2% | 38.5% | 30.3% | 19.8% |
| R&D | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SG&A | $12.75M | $12.13M | $12.79M | $14.82M | $15.98M | $15.39M | $14.70M | $15.34M | $10.79M | $9.79M | $12.30M | $12.57M | $12.73M | $13.48M | $17.59M | $15.62M | $18.80M | $22.89M | $28.82M | $28.87M |
| Operating income | $72.24M | $53.24M | $121.29M | $2.42M | $777999.00 | $-55.01M | $-55.87M | $-81.81M | $-6.28M | $128.09M | $48.01M | $-46.23M | $-29.83M | $31.97M | $81.23M | $-84.15M | $36.18M | $127.89M | $77.31M | $28.99M |
| Operating margin | 41.2% | 28.5% | 53.2% | 1.9% | 0.6% | -58.0% | -42.8% | -33.6% | -1.8% | 28.7% | 13.4% | -15.6% | -10.3% | 10.1% | 22.9% | -43.0% | 10.7% | 32.7% | 22.1% | 9.9% |
| EBITDA | $103.50M | $96.77M | $170.52M | $57.84M | $63.71M | $-5.54M | $1.88M | $-19.48M | $79.22M | $210.82M | $144.44M | $-74.67M | $22.41M | $96.23M | $149.25M | $-24.69M | $92.60M | $180.73M | $133.52M | $86.73M |
| EBITDA margin | 59.0% | 51.8% | 74.8% | 46.5% | 50.4% | -5.8% | 1.4% | -8.0% | 22.6% | 47.3% | 40.4% | -25.1% | 7.8% | 30.3% | 42.1% | -12.6% | 27.3% | 46.1% | 38.2% | 29.7% |
| EBIT | $73.84M | $53.89M | $122.24M | $2.81M | $1.16M | $-70.17M | $-67.34M | $-93.85M | $-1.31M | $128.21M | $53.56M | $-175.34M | $-38.28M | $32.27M | $81.42M | $-93.05M | $42.18M | $129.33M | $77.37M | $28.99M |
| Interest expense | $6.45M | $9.68M | $3.39M | $1.79M | $1.97M | $2.13M | $5.85M | $11.52M | $13.37M | $11.02M | $11.27M | $21.11M | $49.28M | $42.55M | $31.39M | $26.38M | $27.05M | $30.50M | $30.74M | $35.75M |
| Income tax | $4.96M | $9.30M | $9.08M | $-614000.00 | $-632000.00 | $16.34M | $12.03M | $86000.00 | $47000.00 | $96000.00 | $102000.00 | $83000.00 | $79000.00 | $71000.00 | $64000.00 | $59000.00 | $23000.00 | $120000.00 | $-10000.00 | — |
| Effective tax rate | 6.9% | 17.4% | 7.1% | -154.3% | 43.9% | -29.2% | -19.7% | -0.1% | -0.4% | 0.1% | -2.3% | -0.0% | -0.1% | -0.7% | 0.1% | -0.0% | 0.2% | 0.1% | -0.0% | 0.0% |
| Net income | $67.39M | $44.21M | $118.84M | $1.01M | $-808999.00 | $-72.30M | $-73.19M | $-105.42M | $-13.17M | $114.63M | $-4.46M | $-204.97M | $-95.31M | $-10.35M | $50.03M | $-119.42M | $15.10M | $98.71M | $46.64M | $12.27M |
| Net income growth (YoY) | — | -34.4% | +168.8% | -99.1% | -179.9% | -8836.7% | -1.2% | -44.0% | +87.5% | +970.6% | -103.9% | -4499.8% | +53.5% | +89.1% | +583.3% | -338.7% | +112.6% | +553.7% | -52.7% | -73.7% |
| Profit margin | 38.4% | 23.6% | 52.1% | 0.8% | -0.6% | -76.3% | -56.0% | -43.3% | -3.8% | 25.7% | -1.2% | -69.0% | -33.0% | -3.3% | 14.1% | -61.0% | 4.5% | 25.2% | 13.3% | 4.2% |