NORDIC AMERICAN TANKERS Ltd
NAT · Water Transportation · EDGAR filings ↗
Grade
C57Cyclical Suezmax tanker owner in a sharp earnings downturn with weak returns despite an adequate balance sheet.
Strengths
- High gross margin 62.3% (74.3th pct) and current/quick ratio 2.24 (73.9th pct)
- Management notes improving 2H-2025 freight rates and muted orderbook
Risks
- Weak returns: ROE 2.8% (27.8th pct), ROA 1.4%, OCF margin 6.8% (6.2th pct)
- Revenue -16.6% and net income -73.7%; spot-rate dependence and high volatility
Quarterly revenue
Last 2 quarters · from SEC filings.
Key metrics
Gross margin
62.3%
Operating margin
15.9%
Net margin
4.2%
Return on equity
2.8%
Return on assets
1.4%
ROIC
4.4%
Revenue growth (QoQ)
18.7%
Net-income growth
-73.7%
Debt / equity
0.9×
Current ratio
2.2×
Tangible book value
$446M
Cash & investments
$46M
Stock comp / revenue
0.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-25 | Hansson Alexander | Grant | 145K | $6.44 |
| 2026-06-03 | Hansson Herbjorn | Grant | 100K | $5.26 |
| 2026-05-29 | Hansson Alexander | Grant | 300K | $5.16 |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-29 | 2025-12-31 | 0001140361-26-017809 ↗ |
| 20-F | 2025-04-29 | 2024-12-31 | 0001140361-25-016316 ↗ |
| 20-F | 2024-04-29 | 2023-12-31 | 0001140361-24-022947 ↗ |
| 20-F | 2023-04-27 | 2022-12-31 | 0001140361-23-020912 ↗ |
| 20-F | 2022-05-11 | 2021-12-31 | 0001140361-22-018634 ↗ |
| 20-F | 2021-04-29 | 2020-12-31 | 0001140361-21-014948 ↗ |
| 20-F | 2020-04-16 | 2019-12-31 | 0000919574-20-002937 ↗ |
| 20-F | 2019-04-16 | 2018-12-31 | 0000919574-19-002964 ↗ |
| 20-F | 2018-05-15 | 2017-12-31 | 0000919574-18-003811 ↗ |
| 20-F | 2017-05-01 | 2016-12-31 | 0000919574-17-003670 ↗ |
| 20-F | 2016-03-23 | 2015-12-31 | 0000919574-16-012108 ↗ |
| 20-F | 2015-03-27 | 2014-12-31 | 0000919574-15-003231 ↗ |