NAT (Nordic American Tankers Limited) Stock Financials & Earnings | Market Cap Arena

NAT (Nordic American Tankers Limited) Stock Financials & Earnings | Market Cap Arena

NATNordic American Tankers Limited

Mkt Cap$1B

Industrials·Marine Shipping·🇧🇲 Bermuda·NYSE

Revenue (TTM)$292M

Net Income (TTM)$12M

EPS (TTM)$0.06

Free Cash Flow (TTM)-$117M

Gross Margin19.8%

Op. Margin9.9%

Net Margin4.2%

FCF Margin-39.9%

P/S Ratio (TTM)4.0x

P/E Ratio (TTM)95.6x

YoY Rev Growth-16.4%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$121M	$60M	$55M
Q2 23	$99M	$39M	$34M
Q3 23	$78M	$21M	$14M
Q4 23	$59M	$30M	$25M
Q1 24	$95M	$31M	$23M
Q2 24	$98M	$35M	$29M
Q3 24	$82M	$22M	$16M
Q4 24	$74M	$18M	$9M
Q1 25	$65M	$8M	$1M
Q2 25	$67M	$7M	$434K
Q3 25	$75M	$14M	$7M
Q4 25	$86M	$29M	$20M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	3.2x	13.2x
Q2 23	3.0x	9.8x
Q3 23	3.2x	10.0x
Q4 23	3.3x	11.9x
Q1 24	3.5x	17.5x
Q2 24	3.5x	19.0x
Q3 24	3.5x	18.7x
Q4 24	3.4x	25.2x
Q1 25	3.7x	32.7x
Q2 25	4.1x	87.7x
Q3 25	4.2x	614.8x
Q4 25	4.0x	95.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$51M	$51M
Q2 23	$48M	$48M
Q3 23	$27M	$27M
Q4 23	$13M	-$60M
Q1 24	$38M	$37M
Q2 24	$33M	$31M
Q3 24	$35M	$34M
Q4 24	$19M	$19M
Q1 25	-$849K	-$1M
Q2 25	$1M	-$134M
Q3 25	$4M	$4M
Q4 25	$15M	$15M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$217K
Q2 23	$130K
Q3 23	$137K
Q4 23	$73M
Q1 24	$186K
Q2 24	$2M
Q3 24	$471K
Q4 24	$86K
Q1 25	$284K
Q2 25	$135M
Q3 25	$42K
Q4 25	$752K

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+146.5%	-3.1%
Q2 23	+32.3%	-11.2%
Q3 23	-25.2%	-28.0%
Q4 23	-16.7%	+4.9%
Q1 24	-21.5%	+8.2%
Q2 24	-1.3%	+5.5%
Q3 24	+4.8%	+3.1%
Q4 24	+25.6%	+89.5%
Q1 25	-32.0%	-12.2%
Q2 25	-31.8%	-3.3%
Q3 25	-8.8%	+3.4%
Q4 25	+15.4%	-0.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$1M	1.2%
Q3 23	$0	0.0%
Q4 23	$2M	3.7%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$2M	2.5%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 23	$6M
Q2 23	$5M
Q3 23	$6M
Q4 23	$6M
Q1 24	$8M
Q2 24	$6M
Q3 24	$6M
Q4 24	$9M
Q1 25	$7M
Q2 25	$6M
Q3 25	$7M
Q4 25	$9M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$57M	$0	$57M
Q2 23	$96M	$0	$96M
Q3 23	$69M	$0	$69M
Q4 23	$33M	$0	$33M
Q1 24	$50M	$0	$50M
Q2 24	$41M	$7M	$48M
Q3 24	$40M	$0	$40M
Q4 24	$39M	$0	$39M
Q1 25	$103M	$0	$103M
Q2 25	$94M	$0	$94M
Q3 25	$68M	$0	$68M
Q4 25	$46M	$0	$46M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	209M	+0.0%
Q2 23	209M	+0.0%
Q3 23	209M	+0.0%
Q4 23	209M	+0.0%
Q1 24	209M	+0.0%
Q2 24	209M	+0.0%
Q3 24	209M	+0.0%
Q4 24	211M	+0.8%
Q1 25	212M	+0.6%
Q2 25	212M	+0.0%
Q3 25	212M	+0.0%
Q4 25	212M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$176M	2
FY 15	$223M	2
FY 16	$179M	2
FY 17	$14M	21
FY 18	$14M	20
FY 19	$16M	20
FY 20	$15M	23
FY 21	$10M	19
FY 22	$16M	21
FY 23	$23M	17
FY 24	$23M	15
FY 25	$19M	15