Nordic American Tankers Limited (NAT) Stock Analysis
Energy · Oil & Gas Midstream · NYSE
Nordic American Tankers Limited (NAT) posted $291.69M in revenue for fiscal 2025 (down 16.6% year over year), at a 4.2% net margin, and has compounded revenue about -4.9%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Nordic American Tankers Limited
Nordic American Tankers Limited has grown revenue from $339.34M to $291.69M over the last 4 fiscal years, compounding about -4.9% a year. The most recent year was down 16.6%, so growth has cooled from its longer-run pace.
Net margin sits at 4.2%, down 9.1 points year over year on a 19.6% gross margin. It carries about $424.14M of total debt.
The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from Nordic American Tankers Limited's SEC filings — descriptive, not advice. Ask the analyst your own question →
Nordic American Tankers Limited revenue & earnings — last 4 fiscal years
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $339.34M | $391.69M | $349.74M | $291.69M |
| Gross profit | $54.97M | $150.78M | $106.14M | $57.14M |
| Net income | $15.10M | $98.71M | $46.64M | $12.27M |
| Net margin | 4.5% | 25.2% | 13.3% | 4.2% |
Source: Nordic American Tankers Limited SEC filings (10-K).
Nordic American Tankers Limited: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 17.4% while revenue rose -16.6% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
- Heavy debt loadTotal debt of $459.5M is 23.2× last year's operating cash flow — it would take years of cash flow to clear.
Explore 4 years of Nordic American Tankers Limited financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
Open the interactive view — freeOr start a 7-day free trial to track NAT in your portfolio →
Nordic American Tankers Limited financial history by metric
Compare Nordic American Tankers Limited with peers
About Nordic American Tankers Limited
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.
Nordic American Tankers Limited — frequently asked questions
What is Nordic American Tankers Limited's revenue?
Nordic American Tankers Limited (NAT) reported revenue of $291.69M for fiscal year 2025, down 16.6% from the prior year, according to its SEC filings.
Is Nordic American Tankers Limited profitable?
Yes. NAT earned net income of $12.27M in fiscal 2025, a net margin of 4.2%.
What is NAT's P/E ratio?
Nordic American Tankers Limited trades at a price-to-earnings ratio of about 20.3 based on the latest data in our nightly-refreshed cache.
How fast is Nordic American Tankers Limited growing?
NAT's revenue grew at roughly -4.9% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Nordic American Tankers Limited have?
As of fiscal year 2025, NAT carried roughly $424.14M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Nordic American Tankers Limited's gross margin?
NAT's gross margin was 19.6% in fiscal 2025 — gross profit of $57.14M on revenue of $291.69M.
What is Nordic American Tankers Limited's market cap?
Nordic American Tankers Limited (NAT) has a market capitalization of about $1.11B, based on the latest data in our nightly-refreshed cache.
When does Nordic American Tankers Limited's fiscal year end?
NAT's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Nordic American Tankers Limited's official SEC filings (10-K and 10-Q), covering 4 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.